Scranton, Pennsylvania (CNN) - President Obama brought his two month-long jobs push to Scranton, Pennsylvania Wednesday, pleading with members of Congress back in Washington to extend the payroll tax holiday that he claims will save the average family $1,500 next year.
“Let’s be clear, if they vote no, your taxes go up,” Obama told an enthusiastic crowd at Scranton High School. “If they vote yes, you get a tax cut. Which way do you think Congress should vote?”
The payroll extension holiday is among the final components of the president’s larger jobs bill the Congress has yet to formally consider. Nearly every other measure Obama proposed in the $447 billion bill earlier this fall has been held up by Republicans - and in some cases Democrats - wary of increasing the country’s ballooning deficit or raising taxes on any income brackets.
The White House, that long suspected many of the president’s proposals would meet opposition in Congress, has jumped at the opportunity to campaign against Washington in the months before the presidential campaign kicks into full gear.
“Folks in Washington don’t seem to be getting the message,” the president also said in the 20 minute-speech in which he largely railed against congressional Republicans. FULL POST
WASHINGTON (CNNMoney) - President Obama is expected to announce measures aimed at helping college graduates climb out of their student loan debt hole.
One of the proposals would push up the start date for more favorable terms on a special loan repayment program based on income, sources tell CNNMoney. Another measure would encourage graduates with two or more different kinds of federal loans to consolidate them.
The initiatives were originally unveiled by Obama in his budget proposals. But the president is expected to trumpet them when he appears Wednesday at the University of Colorado's Denver campus.
The president is under pressure to address the financial concerns that students and recent graduates face with dour job prospects in this economy. Student loan debt, which is now outpacing credit card debt, is one of the things being protested at Occupy Wall Street marches in New York.
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