In his first news conference of his second term today, President Obama made it quite clear he will not accept any vague tax compromises of the sort being proposed by Speaker John Boehner.

"What I will not do is to have a process that is vague, that says we’re going to sorta-kinda raise revenue through dynamic scoring or closing loopholes that have not been identified. And the reason I won’t do that is because I don’t want to find ourselves in a position six months from now or a year from now, where low-and-behold, the only way to close the deficit is to sock it to middle-class families," the President said. Watch it.