Cliff Deal--Johnson Reax

Wisconsin U S Senator Ron Johnson says President Obama got what he demanded Tuesday, a tax increase on the job-creating sector of America's economy - 'the rich.' It will harm economic growth, hinder new job creation and, at most, reduce our annual deficit by about 5%.

Johnson, a Republican, issued a statement saying President Obama then left town with 95% of the deficits still unresolved.

Johnson said now is not the time to declare victory and go on vacation. Now it is time for President Obama and Democrats in the Senate to show the American people their plans to save Social Security and Medicare, and to address the remaining 95% of our annual deficit which is projected to exceed $1 trillion for the fifth year in a row. Johnson said he will not vote to increase the debt unless serious spending reductions are part of the package.