This report from WSJ is getting some buzz.
The idea: Urge the super-committee to do some stimulus up front combined with more austerity in the rear.
The White House is looking for ways to boost the sluggish economy and bring down unemployment that is now stuck above 9%. Mr. Obama, facing re-election next year, has been pushing Congress for months to adopt a variety of stimulus measures, some of which he could urge the committee to embrace. These include extending unemployment-insurance benefits and a payroll-tax cut for employees, which expire at year end and together cost more than $160 billion a year, and an infrastructure bank that could cost as much as $30 billion. The White House is also looking at a payroll-tax cut for employers, worth perhaps as much as roughly $110 billion, and other tax breaks for businesses of as much as $55 billion.
The hope is that the Congress might go along on this stuff in exchange for more cuts down the road. Said one official to the WSJ: “There’s no reason to stop at $1.5 trillion.”
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