While President Obama and House Speaker John Boehner, R-Ohio sent signals this week that compromise between the House and the President was possible, the Washington Times reported on Saturday both sides reiterated their opposing positions.

Sticking to their traditional positions, the president insisted on higher taxes on the wealthy and the Republican House speaker called for lower tax rates and tax code reform.

CNN:

“The message you sent was clear: you voted for action, not politics as usual,” Obama said in his weekly address.

Boehner said, “If there was a mandate in this election, it was a mandate to work together to do what’s in the best interest of our country. And right now, what’s best is getting our economy moving again and keeping it moving, so we can begin to restore our children’s future”

Nevertheless earlier this week, both parties showed a willingness to compromise.

Boehner said on Friday that he is open to a deal that raises tax revenue but not rates, leaving open the possibility for a compromise that includes limiting or eliminating tax deductions or other tax breaks for those families, the Wall Street Journal reported.

"A stronger economy means more revenue - which is exactly what the president is seeking," Boehner said as reported by CBS.

During Obama's first statement since winning re-election the president didn't specifically mention raising tax rates on households earning more than $250,000 a year, as he did throughout his re-election campaign, the Wall Street Journal reported.

"I'm not wedded to every detail of my plan. I'm open to compromise," Obama said as reported by the Associated Press.

Next week will show if the two sides will be able to negotiate. President Obama has invited Boehner and other congressional leaders to the White House to begin looking for a way to avoid the the series of automatic spending cuts and tax hikes set to kick in at the end of the year, the Washington Times reported.

If Congress doesn't act by the end of the year, $607 billion in mandatory cuts and tax increases are scheduled to take effect, beginning in January, Market Watch reported.

Read more about the U.S. budget here.

Reach Executive Reporter Jackie Mansky here.