President Obama will hold a previously unscheduled news conference on Tuesday at 2:20 p.m. likely focusing on the compromise with Republicans on tax cuts, the White House announced. Check back here for CNN's live blog of the press conference.

2:52 p.m. Q: Some on the left question you core values; can you say exactly where you won't budge?
2012 – We will have had 2 years to discuss the budget – not in the abstract – but in concrete terms... Over the next 2 years they are going to have to show me what they think they can do. Became pretty clear after you go through the budget line by line that is that they want to pay for tax breaks to wealthy - that is a lot of money – corresponding cuts that would have to be made are very painful. They will need to rethink their ideas...I have a whole bunch of lines in the sand – not making tax cuts for the wealthy permanent was a line in the sand. Things that don’t impact low and middle income families. Some in congress were only talking about extending tax cuts for the wealthy.
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