President Obama has wrapped up a three-day Midwest bus tour aimed at appealing to voters angered over his handling of the slumping economy. Speaking in Illinois, Obama said he would present a deficit-reduction plan that would include unspecified means to raise government revenues.
President Obama: “We’re going to have spending cuts, and we’re going to have revenue. We’ll have more spending cuts than we have revenue, but we’re going to have to take a balanced approach, and everything is going to be on the table. It doesn’t require radical surgery for us to fix it. It just requires us all to take an approach that says we’re a family and all of us are going to share a little bit in the burden. And those of us who are most fortunate, we can do a little bit more.”
Obama is expected to lay out a new deficit-reduction and stimulus plan in a speech after Labor Day. The White House says Obama will propose new spending on infrastructure projects, tax cuts for companies that hire workers, and even a larger amount of deficit cuts than the $1.5 trillion to be proposed by the new special congressional “super committee.” A Gallup poll released on Wednesday shows just 26 percent of Americans approve of Obama’s handling of the economy.