Obama urges payroll tax cut extension

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US President Barack Obama urged Congress Saturday to extend a payroll tax cut due to expire at the end of the year in order to stimulate the country’s battered economy and job creation. “Put money back in the pockets of working Americans. Pass these tax cuts,” the president said in his weekly radio and Internet address. He pointed out that last year, Democratic and Republican members of Congress had come together to cut payroll taxes for middle-class families by about $1,000. But the tax cut is set to expire at the end of this month, Obama recalled. And if this is allowed to happen, working families will see their taxes go up. “We can’t let that happen,” said the president. “In fact, I think we should cut taxes on working families and small business owners even more.” The comment came as the White House received a substantial confidence boost on Friday, as unemployment sank to a 32-month low of 8.6 percent in November.