Obama Plans Major Jobs Speech

Here comes Washington’s next battle. President Obama will begin September with a major policy speech dedicated to job creation, a White House official tells the Associated Press. He’ll be unveiling a package of new ideas aimed specifically at helping the long-term unemployed, which will likely include tax cuts and an infrastructure spending initiative. To appease deficit hawks, the source tells AP, Obama will also offer a deficit-reduction plan to offset the new outlays—and a further plan that will aim to slash at least $1.5 trillion in federal spending.