In his post election speech this afternoon, President Obama suggested that Republicans pass a bill to keep taxes low for middle Americans and raise taxes on the rich.

"I've got the pen right ready to sign the bill right away, I'm ready to do it," Obama said.

"I refuse to accept any approach that isn’t balanced,” Obama added, asserting that he was "open to compromise."

He continued. “On Tuesday night, we found out that the majority of Americans agree with my approach.”