Aide: Obama would consider tax cuts for rich

WASHINGTON - President Barack Obama sought Thursday to retake the political initiative after a bruising election, inviting Republican and Democratic congressional leaders to meet with him on the economy and jobs. The White House said Obama would consider extending Bush-era tax cuts even for upper income Americans.

The Nov. 18 meeting will be closely watched, in particular, for any signs of cooperation between Obama and his two frequent Republican antagonists, incoming House speaker-in-waiting John Boehner and Senate Minority Leader Mitch McConnell. They will be joined by the top Democrats in Congress, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid.

White House spokesman Robert Gibbs said no staff would take part in the meeting.

McConnell spokesman Don Stewart said McConnell is "encouraged" by the chance to meet with Obama to discuss issues including trade, reducing spending and increasing domestic energy production.

But McConnell himself took a confrontational tone in a speech to the Heritage Foundation. He called for Senate votes to repeal or erode Obama's health care law, to cut spending and to shrink government.

"The only way to do all these things is to put someone in the White House who won't veto any of these things," McConnell said.

Tuesday's elections amounted to a national political reset, shifting control of the House to Republicans when the new Congress convenes early next year.

Gibbs said Thursday that Obama continues to believe that extending tax cuts permanently for upper income earners "is something the president does not believe is a good idea" but that he would be open to the possibility of extending the cuts for one or two years.

"It's clear that the voters sent a message," Obama told reporters, with Cabinet members at his side.