White House: 'Current Policies Work for the Middle Class'

White House: 'Current Policies Work for the Middle Class' (Photo courtesy of flickr.com user LollyKnit)
White House: 'Current Policies Work for the Middle Class' (Photo courtesy of flickr.com user LollyKnit)

The White House issued a statement Friday on the most recent unemployment figures, showing that the unemployment rate remained at 7.8-percent in December. Sheridan Media's Chris Foy has more.

As we previously reported, Sheridan and Johnson Counties were two of three Wyoming counties with the best improvement in employment percentages of their citizens. But across the country, the situation varies.

Chairman of the Council of Economic Advisers, Alan Krueger, says in an official statement that recent reports show the economy is continuing to heal from the recession he says began in December 2007.

Krueger says it's critical that we continue the current administration's policies he says are building an economy that works for the middle class. But not everyone agrees with that take on the economy.

With the passage of the deal designed to avert the so-called fiscal cliff, the payroll tax cut was allowed to expire. Two years ago, President Obama and Congress agreed to cut the payroll tax by two percent in an effort to stimulate the economy.

So can we expect to see two percent from our paychecks go towards social security? American Public Media reports that some consumers are planning on losing as much as $2,000 a year.

Krueger echoed Obama's comments saying that as a result of the recent passing of fiscal cliff legislation, more than 98-percent of Americans and 97-percent of small businesses now have certainty that their income taxes will not rise. But the White House has not yet issued a statement about the impact of not renewing the payroll tax cut.

Krueger adds that payrolls did rise in both residential and non-residential construction jobs during the month of December.

view counter

Send us a News Tip!

Have a news tip?
Use our anonymous form to let us know.