Obama readying plan to boost jobs, cut deficits


WASHINGTON — President Barack Obama will announce a double-barrelled economic package that aims to boost hiring and find budget savings that surpass the $1.5 trillion goal of a congressional deficit-cutting committee.

His ideas will be outlined in a major speech immediately after the September 5 Labor Day holiday, White House officials said.While no final decisions have been made, it is likely the jobs proposals will include tax cuts for businesses that hire new employees, tax cuts for the middle class, and support for sectors of the economy that are falling behind, the officials said.

The measures are also expected to include investments in infrastructure beyond the construction projects the president has been repeatedly calling for as well as some assistance for the long-term unemployed.

The White House also suggested that Obama would push the congressional “super committee” — set up this month to find more budget savings under the debt ceilingdeal — to go beyond their $1.5 trillion target.

He plans to call again for a “balanced approach” to reducing the deficit, with revenue increases alongside spending cuts, the officials said, also suggesting job measures may be included to offset painful cuts.

Read full article here: MSNBC

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