Obama calls for extension of tax cut

First, some good news coming up for the troubled US economy where unemployment rate has fallen to 8.6 percent for November, the lowest in two and a half years. The country added 120-thousand jobs during the month, and the economy has generated 100-thousand or more jobs five months in a row, the first time that’s happened since April 2006. Welcoming the news, President Barack Obama has encouraged Congress to extend a tax cut that is set to expire at the year’s end. Barack Obama, US President, said, "We need to keep that growth going. Right now that means Congress needs to extend the payroll tax cut for working Americans for another year. Congress needs to renew unemployment insurance for Americans who are still out there pounding the pavement looking for work. Failure to take either of these steps would be a significant blow to our economy."