President Obama on Monday said it would be "irresponsible" to cut social programs to cover the cost of payroll tax relief, as some Republicans have proposed. Obama noted that this summer's debt-ceiling deal authorized hundreds of billions of dollars in spending cuts, and said he would not endorse an offset that would harm the economy.
“It would be irresponsible to now make additional deep cuts in areas like education, or innovation, or our basic safety net that are critical to the economy in order to pay for an extension of the payroll tax cut,” Obama said, noting that economists have said an extension will help the economy.
Read more on The Hill's On The Money blog.
