President Barack Obama said his top priority is work and growth (Creative Commons)

In his first speech since his re-election night, President Obama briefly addressed paying the deficit, fixing the looming fiscal cliff and making jobs his first priority.

Inviting both Republicans and Democrats to meet with him so that the Dec. 31 deadline is met, the president acknowledged that they can't "cut their way to prosperity."

"We need to ask the wealthiest of Americans to pay a little more in taxes," he said via a live CNN broadcast. "That's the only way we can afford to train our workers or help our kids to pay for college." His remarks were met with applause.

SEE ALSO: Fiscal Cliff Talks Begin For Boehner, Obama

Obama said he has made a detailed plan to reduce the deficit by $4 trillion over the next decade. While he acknowledged he is not wedded to his plan and open to new ideas, he also stressed that he will not allow student and seniors to suffer economic hardships while the rich are getting tax breaks.

"This was essential during the election and we found on Tuesday night that the majority of Americans agree with my approach… Now, we need the majority of Congress to reflect the will of the American people."

According to the president, everyone's taxes will go up on Jan. 1, 2013, unless a deal is made.

"Nobody wants taxes going up for people who make under $200,000 a year, so let's not wait. Let's extend Middle Class tax cuts right now. Let's do that right now," said the president. The president said this would give 90 percent of Americans and small businesses more certainty going into the new year.

SEE ALSO: The President Faces "Fiscal Cliff" Hours After Being Re-Elected

"I've got the pen, I'm ready to sign.. I'm ready to go," said the president.

President Obama and House Speaker John Boehner are scheduled to meet next week to continue discussion about the fiscal cliff.

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