Obama previews new jobs stimulus initiatives
Tax cuts and targeted spending to spark job growth are likely to be part of the next effort by President Barack Obama to jumpstart the economy ahead of crucial midterm elections.
Obama spoke in the Rose Garden Fdiday after the August jobs report came out better than expected. It showed the private sector adding 67,000 new jobs last month and revising upward the numbers from June and July. But unemployment ticked upward to 9.6 percent.
Administration officials say a big new stimulus bill like last year's $814 billion measure is not in the mix. Nervous lawmakers looking to November's balloting would not be expected to approve an expensive new measure. But Obama said he'd be proposing a new set of ideas next week. He's likely to detail them during a speech on the economy Wednesday in Cleveland.
