Obama Lays Out Middle Ground For Debt, Jobs Solution

President Barack Obama spoke briefly to the nation Friday, proposing a series of laws that Congress could enact right now to ease the recession and move the economy in the right direction.

The speech comes ahead of a busy weekend for the White House and Congress, as the two parties try to work through their differences to find a plan for raising the debt limit. Failing to raise the debt limit could push the country into an economic tailspin, wiping out gains and shaking investor confidence just as the economy is showing signs of finally gaining traction and turning around. "I am ready to roll up my sleeves in the next couple months" to do the hard work, Obama said, referring to his part in solving these problems with Congress, including Republicans who have presented their own versions of solutions that vary wildly from the President's. The White House suggested that Congress act today to do some simple things that are currently before them. For example, Obama suggested that we take a look at killing two birds with one stone by hiring millions of currently laid off construction workers (who were displaced when the housing market went bust) and put them to work rebuilding roads, bridges, and other crumbling bits of infrastructure across America. Some other ideas included streamlining the patent process, so entrepreneurs could more quickly turn their ideas into products; advancing trade agreements with Asia and South America, opening up their markets to our products; extending the middle class tax cut; and, of course, finding a solution to bring the debt under long-term control while also investing on infrastructure and jobs to boost the economy through this rough patch.