Obama Pledges Policies To Boost Middle Class

(NewsCore) - U.S. President Barack Obama in his weekly radio address Saturday vowed to push economic policies he said will help "the great American middle class," including a measure that would provide tax breaks "to the folks who create jobs right here" in America.

"This Labor Day, we should recommit ourselves to our time-honored values and to this fundamental truth: To heal our economy, we need more than a healthy stock market; we need bustling main streets and a growing, thriving middle class," the president said.

Obama said accelerating job creation was key to helping the middle class. He said his administration had taken steps to stop the bleeding by investing in infrastructure, preventing layoffs and cutting taxes for small-business owners.

Although it was unclear whether the U.S. Congress would pass additional measures to stimulate the economy, the Obama administration was considering new policies to boost economic growth. In fact, the president plans to outline additional job-growth policies next week.

"I'm fighting to pass a law to provide tax breaks to the folks who create jobs right here in America," Obama said in his radio address, according to a transcript.

Obama added that the middle class was especially hard-hit, facing stagnant incomes and declining economic security. "I don't have to tell you that this is a very tough time for our country," he said. "And long before this recession hit, the middle class had been taking some hard shots."

He pledged to work to build an economy in which middle-class families could afford college tuition, a home and retirement. "I will keep working day-by-day to restore opportunity, economic security, and that basic American dream for our families and future generations," he said.

Meanwhile, Rep. Geoff Davis (R-Ky.) argued that the Obama administration's policies had not done enough to help the weak economy and called for Congress to take steps to restrain Democrats' legislative efforts.

Despite bailouts and stimulus spending, unemployment levels were still painfully high and the economic recovery had yet to take hold, said Davis, adding that the national debt was swelling. "Americans don't want slogans, they want solutions, which is exactly what Republicans are offering," he said in the weekly Republican address.

He argued that new regulations and mandates being pushed by Democrats in Washington were burdensome and will only stifle investment and hurt small businesses. He went on to criticize the new health care overhaul law as "a perfect example of how unelected bureaucrats can wreak all kinds of havoc. The health law will trigger the creation of more than one hundred new boards, bureaus and commissions, said Davis.

Seeking to put the brakes on Democrats efforts, Davis urged Congress to back his "REINS Act," which would require Congress to take an up-or-down vote on very new major rule.

The legislation would be "a much-needed restraining order," he said. "The sooner we rein in the red tape factory in Washington, D.C., the sooner small businesses can get back to creating jobs and helping more Americans find an honest day's work."