WASHINGTON – President Barack Obama said Saturday that the compromise he reached with Republicans on tax cuts was “by no means perfect” but a “good deal for the American people.”
Obama, in his weekly radio address, said the middle class had been hit hardest by the recession and that “taking money out of the pockets of working people is exactly the wrong thing to do to get our economy growing faster.”
Economists say the tax hikes that would result if Congress failed to act could cost “well over a million jobs,” Obama said.
He said the typical middle-class family would have to pay an extra $3,000 in taxes next year if Congress did not sign off on the agreement.
Votes are expected this week.