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Politics:

Obama: Tax cut deal not perfect, but worth passage

President Barack Obama calls his tax-cut agreement with Republicans far from perfect but a good deal overall for Americans, while acknowledging that many fellow Democrats aren't happy about what he negotiated with the GOP. Pressing for passage by year's end, he told lawmakers in his radio and Internet address Saturday that "our recovery will be strengthened or weakened based on the choice that now rests with Congress." The deal would extend for all earners cuts in income tax rates that are set to expire next month. It would renew jobless benefits for the long-term unemployed and trim Social Security taxes for one year. Republicans support the plan because it would not impose higher taxes on the wealthiest, as Obama long had wanted to do. Democrats object to the pact on grounds that it is too generous to the rich.

View Source: http://apnews.myway.com/article/20101211/D9K1ORJO0.html