WASHINGTON - President Barack Obama says staggering job losses mean the United States must continue to "spend our way out of this recession" with a round of new incentives for hiring.
In a speech, Obama proposed a package intended to stimulate job creation and bring down the country's 10 percent unemployment rate. The measures include more money for infrastructure projects, tax cuts and credit access for small businesses. It also includes rebates to consumers who make their homes more energy efficient.
Obama said Tuesday it is a "false choice" to claim that the government must pick between paying down the deficit and investing in economic growth. He said spending in the short-term to create new jobs will help reduce the deficit over the long-term.