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Obama Prepares for Stimulus Push

As President Obama plans for new stimulus spending after Labor Day, he’s considering ideas including tax breaks for companies that hire workers new roads and construction spending, and mortgage relief for struggling homeowners. The package will be “revenue neutral,” with all spending offset by long-term savings. In fact, Obama will call on Congress’ debt committee to go beyond the $1.5 trillion in savings it has been tasked with finding, while making the case that short-term spending will improve the nation’s long-term economic outlook. “We can’t afford to just do one or the other. We’ve got to do both,” Obama told a crowd Wednesday in Illinois.