Barack Obama actually said...

Not only is extending the payroll tax cut, important for the economy as a whole, it's obviously important for individual families. It's important insurance for them against the unexpected. It will help families pay their bills. It will spur spending. It will spur hiring. And it's the right thing to do.

Context

President Obama emphasizes the importance of extending the payroll tax cut for the economy and individual families.

12/04/2011

https://transcripts.cnn.com...

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