Obama: Here’s My Plan: Save Later, Spend Now!

As he prepares to give a major speech with fresh ideas to jump-start the economy, President Obama told a Kansas City television station Tuesday that he wants to rein in the deficit in the long term in order to spend on jobs programs “here and now.”

Two senior officials confirmed to Fox News that the president will deliver an address focused on jobs and deficit reduction next month. On the deficit front, he is expected to submit a plan to the newly formed bipartisan committee — which is supposed to find $1.5 trillion in savings — urging the panel to go beyond its mandate and seek more.

In an interview Tuesday, the president hinted that he wants to seek deeper savings down the road to pay for a bigger jobs program now.

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