Obama's Jobs Plan Adds to Debt Panel's Work

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President Obama's jobs plan is complicating the work of the congressional supercommittee put in charge of cutting America's spending.

The bipartisan committee has been commissioned to slash $1.5 trillion from the budget deficit.

Economist Douglas Elmendorf, director of the nonpartisan Congressional Budget Office, is expected to tell the committee Tuesday that in order to substantially reduce the current budget deficit, the American public will have to give up some government services or pay more in taxes for them - or a combination of both.

The president's plan calls for the opposite. Obama is asking for a temporary boost in spending on roads, schools, and neighborhoods.

The president would pay for the initiative with a tax increases on wealthier workers, oil companies, and hedge fund managers - all proposals opposed by Republicans.

"This proposal would make the already arduous challenge of finding bipartisan agreement on deficit reduction nearly impossible, removing our options for deficit reduction for a plan that won't reduce the deficit by one penny," co-chairman Rep. Jeb Hensarling, R-Texas, said.

"It's not the role of this committee to spend more money we don't have on jobs we don't get," he added.

Many political analysts wonder if the panel will be able to agree on any serious cuts, especially with next year's elections approaching.

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