GOP says tax increases 'very unacceptable'

The House and Senate GOP leadership warned President Obama about his soon-to-be announced budget plan after meeting with him at the White House Wednesday morning.

“The president gave us a general outline,” House Speaker John Boehner, R-Ohio, said after returning from the White House. “But the one area that we know we’re not going to get very far on is the idea that we’re going to raise taxes on the very people that we expect to invest in our economy and to help create jobs.”