Talks on avoiding the so-called fiscal cliff have hit a wall with both President Obama and House Speaker John Boehner rejecting the other’s latest proposals. At the White House, Obama told reporters he thinks Republicans continue to hold a personal grudge against him, opposing his plans “just for the heck of it.” Obama went on to promise a veto of the latest Republican plan to begin taxing households making over $1 million rather than the $400,000 minimum recently proposed by the White House. He also rejected any effort to tie the fiscal cliff with the debt ceiling as Republicans did last year.

President Obama: “I will not negotiate around the debt ceiling. You know, we’re not going to play the same game that we saw happen — saw happen in 2011, which was hugely destructive. If you go to Wall Street, including talking to a whole bunch of folks who spent a lot of money trying to beat me, they would say it would be disastrous for us to use the debt ceiling as a cudgel to try to win political points on Capitol Hill. So we’re not going to do that.”