Obama: Economy

President Barack Obama Dept: The economy risks sinking into another recession if Congress can t reach a budget deal to avert tax increases and deep spending cuts of about $1.2 trillion starting in January, according to Montreal Gazette. Obama has said he would help create jobs by preserving low income tax rates for all except high-income Americans, spending more on public works and giving targeted tax breaks to businesses and wASHINGTON Here s the assignment President Barack Obama has won with his re-election: Improve an economy burdened by high unemployment, stagnant pay, a European financial crisis, slowing global growth and U.S. companies still too anxious to expand much. The outlook isn t all grim. Signs suggest that the next four years will coincide with a vastly healthier economy than the previous four, which overlapped the Great Recession. (www.immigrantscanada.com). As reported in the news.