During Sputnik moment President Barack Obama... | Gather: "n a surprising speech today, President Barack Obama announced that tax hikes, at this time in our economy, are not a good idea. He stated that by not acting to prevent tax cuts being extended, it would result in a tax hike of roughly $500 per month on middle class Americans.
Today President Obama talked about the economy of the United States and after doing the acknowledgments of local leaders in North Carolina, he proceeded to report that the economy is coming out of recession. He mentioned that the economy has added new jobs, he stated that we are seeing progress and referred to the unemployment reports which shows many Americans out of work. The unemployment rate is very close to 10%."