President Barack Obama plans to give a speech in early September to ask Congress for additional spending to boost the economy, an administration official said. The president also will call for long-term cuts beyond the $1.5 trillion that Congress charged a 12-member bipartisan "super- committee" of lawmakers to trim, the official said.
The dollar amount of the additional long-term deficit reduction measures will exceed the cost of the new short-term spending that he will propose, said the official. His plan will likely have a mix of tax cuts and infrastructure spending and will include proposals beyond the ideas that he has mentioned on his current Midwest bus tour, such as extending a payroll tax cut for workers and unemployment insurance benefits.
The administration is aware that it will need congressional support to pass new spending measures, said the official, who requested anonymity because the details of the speech haven't been released. Final decisions on what will be included in the speech haven't been made.
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