President Obama today said that the White House will continue to work with businesses to seek other ideas to spur hiring and revive the economy, suggesting that a payroll holiday is one of the options.
“We are willing to look at any idea that’s out there” that might help the economy, Obama said during a “town hall” style event on CNBC. Obama noted that the White House had been looking at the idea, and while not specifically endorsing it, declined to rule it out.
Some analysts thought Obama might announce a payroll tax holiday earlier this month when he rolled out his latest batch of “stimulus” measures, but he left it out of the package, which included incentives for capital expenditures, making the research and development tax credit permanent, and new money for roads.
Obama didn’t repeat the anti-Wall Street rhetoric that he has expressed in the past, but nor did he apologize for it when asked when he would stop treating Wall Street “like a pinata.” Instead, his message was, “get over it.”
It’s a two-way street. If you’re making a billion dollars a year after a very bad financial crisis, where eight million people lost their jobs and small businesses can’t get loans. Then I think that you shouldn’t be feeling put upon. The question should be how can we work with you to grow the economy?