Obama to keep pushing payroll tax cut extension

WASHINGTON Tue Aug 2, 2011 1:39pm EDT

U.S. President Barack Obama talks about the debt ceiling crisis in the briefing room at the White House in Washington July 31, 2011. REUTERS/Jonathan Ernst

U.S. President Barack Obama talks about the debt ceiling crisis in the briefing room at the White House in Washington July 31, 2011.

Credit: Reuters/Jonathan Ernst

WASHINGTON (Reuters) - President Barack Obama will continue to push for an extension of the payroll tax cut despite that not being part of a deficit-cutting deal reached by lawmakers, the White House said on Monday.

Lawmakers vote later on Monday on measures to raise the country's $14.3 trillion debt limit and cut the deficit by at least $2.4 trillion, but these steps include no specific policies designed to spur growth and job creation.

"There is no question that he will continue to push for this. And he will make the argument that it is absolutely essential to continue to put extra money in Americans' pockets as they deal with high energy prices and high food prices next year," White House press secretary Jay Carney told reporters.

Tepid growth and high U.S. unemployment have sapped Obama's approval ratings, which Gallup's latest tracking poll found had dipped to a low of 40 percent between July 26 and July 28.

Carney said the administration expects broad bipartisan consensus to support a payroll tax cut extension into 2012.

"We certainly look forward to having that debate in the fall and (Obama) will press very strongly for it," he said.

(Reporting by Jeff Mason and Alister Bull)

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Comments (5)
Oh, great…he thinks he’s doing us a favor by further reducing funding for Social Security. Being as I’m approaching retirement age (or at least so I thought!!!) all I can say about this is “Thanks, Mr. President–for nothing.”

Aug 02, 2011 7:55am EDT  --  Report as abuse
kritik1 wrote:
Granted that everyone (one way or the other) is effected by the recession and that includes lower profits, lower earnings and job loss. Yet everyone should pay their fair share of taxes according to the tax brackets, whether they are individuals or corporations. Tax loop-holes are driving the economy down. Spending will eventually be reduced depending on the recovery from recession, but to stir the economy, create incentives, and improve infrastructure the spending cannot be reduced drastically. Naturally as expected the House and Senate will keep an eye on spending.

Aug 02, 2011 11:14am EDT  --  Report as abuse
kritik1 wrote:
RE SOC SECURITY:

http://money.cnn.com/2011/08/01/news/economy/Debt_ceiling_social_security/

Aug 02, 2011 11:27am EDT  --  Report as abuse
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