Obama vows to alleviate ‘assault’ on middle class

Obama vows to alleviate ‘assault’ on middle class

January 26th, 2010

by Stephen Collinson, AFP

 Is he going to change his anti-entrepreneurial stances?

President Barack Obama vowed Monday to save US middle classes from an “assault” from falling incomes and rising insecurity, previewing highlights of this week’s crucial State of the Union address.

Obama unveiled a series of tax breaks and other measures to spur retirement saving and to ease pressure on working families, as he seeks to calm public rage over the economic meltdown and improve his own political prospects.

“Creating good, sustainable jobs is the single most important thing we can do to rebuild the middle class and I won’t rest until we’re doing just that,” said Obama, ahead of his prime-time address to Americans on Wednesday.

“But, we also need to reverse the overall erosion in middle-class security, so that when this economy does come back, working Americans are free to pursue their dreams again.”

The new White House plans will see the White House double a child care and dependent care tax credit for people earning less than 85,000 dollars a year and provide an extra 1.6 billion dollars for child care funding.

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