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GOP Address: Speaker Boehner on Growing the Economy

ABC/Martin H. Simon(WASHINGTON) -- House Speaker John Boehner and President Obama may have found something on which they can agree. In the days since the president's reelection Tuesday, the House speaker and the president both have stated that they would like to see bipartisan leaders in Washington come together in avoiding the approaching "fiscal cliff."

But does the president and the speaker's agreement stop there? How the government should avoid the imminent fiscal cliff is something entirely different.

While the president has said he refuses to consider any approach that isn't balanced in reducing the federal deficit. According to President Obama, a balanced approach would mean spending cuts coupled with increased taxes for those making more than $250,000 to generate more revenue.

On the other hand, Boehner has said that tax increases are "unacceptable."

"Raising those rates on January 1would, according to the independent firm Ernst & Young, destroy 700,000 American jobs. Taht's because many of those hit by this tax increase are small business owners -- the very people who are the key to job creation in America," the House speaker says in this week's Republican address.

Speaker Boehner suggests a reformed tax code that would close special interests loopholes and lower taxes. Ultimately, he says, he'd like to see a "fairer, cleaner and simpler system" to generate jobs and get the economy growing.

"Instead of accepting arbitrary cuts that will endanger our national defense, let's get serious about shoring up the entitlement programs that are the primary drivers of our country's massive, growing debt," he says.

While Boehner agrees with the president that both parties will have to work together to balance the budget.

"Because if there was a mandate in the election, it was a mandate to work together to do what's in the best interest of our country. And right now what's best is getting our economy moving again and keeping it moving, so we can begin to restore our children's future," he says.

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