Tuesday, January 26, 2010

Spend. Cut. Obama's Tough Spot on Debt

Tomorrow night President Obama will deliver his State of the Union speech, and tidbits of its contents have been leaking to the media. The President will no doubt spend much of his address before Congress to discuss the national deficit and job creation. CNNMoney.com posted this useful article on topics the President is likely to touch on; you can find a snippet of their article below or head on over to CNNMoney.com for the full story.

President Obama's State of the Union address will raise the curtain on how he plans to tackle the unsustainable growth in U.S. and our debt over the next decade.

At the same time, he'll be engaged in a tough balancing act: Laying out how he'll close the gap while making proposals to boost hiring and help the middle class.

Obama is set, for instance, to offer a number of sweeteners such as nearly doubling the child care tax credit.

How can he square the circle?

For one thing, the expectation is that most deficit-related measures he proposes wouldn't be implemented before the economy regains a stronger footing.

"Economically, to pull greatly back at a time of enormous economic uncertainty and recession ... could possibly have a very negative impact on the continuing recovery," White House spokesman Robert Gibbs said Monday.

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