Obama's reason he ran for office
MARQUETTE -- Monday morning, President Barack Obama announced a series of economic initiatives that are aimed at helping the middle class. He said that their stories are why he and Joe Biden ran for office: to fight for the middle class and to make sure working families have a voice in the White House.
Proposals include a doubling of the child care tax credit, caps on student loan payments, and aid for families taking care of elderly relatives.
White House officials say that this initiative is geared towards the so-called "sandwich generation," Americans who are caring for their children and their aging parents at the same time.
The program provides incentives for working people to save. The question is, where will the money for all these proposals be coming from?
Wealth strategy group president Rich Tegge has his doubts.
"There are parts of it that I think are very good pieces," said Tegge. "The incentive to save, those kinds of things, the other pieces are also good benefits for the individual, but the question is how do we pay for them?"
The details of the President's initiatives are expected to be revealed when he delivers his first State of the Union address this Wednesday.
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