You know how some people are especially impossible to get presents for? Maybe it’s your dad, or your sister, or a friend. They might not have any discernible hobbies and interests, or you’re just not aware of those hobbies presently, or they do have them but they’re not compatible with gift-giving. Every year you struggle with what to buy them for their birthday, and every year you come up short. And finally you decide, “Screw it. I’m just going to write them a check.” That’s pretty much where President Obama is at right now.
After a year mainly focused on reforming the health-care system and saving the economy from destruction, two pursuits that have been widely unappreciated by the voting masses, Obama is shifting toward pocketbook issues, hard. In an event with Vice-President Joe Biden today and in his State of the Union address Wednesday, Obama will unveil a slew of new tax cuts and rebates, including:
“a doubling of the child care tax credit for families earning under $85,000; an increase in federal funding for child care programs of $1.6 billion; capping student loan payments to 10 percent of income above ‘a basic living allowance;’ expanding tax credits to match retirement savings; and increasing aid for families taking care of elderly relatives.”
Basically, with scary-bad midterms looming for the Democrats, Obama has, for now, just decided to save the middle class some money. Which is tantamount to giving them money. Now they can go to the mall and get themselves whatever they want!
Obama Administration Plans Middle Class Aid Package [AP via HuffPo]