Obama: Massive blow to economy if tax cuts lapse

Reuters News
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Posted: Nov 30, 2011 3:13 PM
Obama: Massive blow to economy if tax cuts lapse

SCANTON, Pennsylvania (Reuters) - President Barack Obama warned on Wednesday that the U.S. economy would suffer a "massive" blow" if Congress fails to extend payroll tax cuts, saying the country has not fully recovered from recession.

Obama was speaking at a campaign-style rally at a high school in Scranton, Pennsylvania, a battleground state in the 2012 presidential election in which he is seeking a second term.

(Reporting by Laura MacInnis, writing by Matt Spetalnick, Editing by Sandra Maler)