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Obama Discusses Taxes, Economy With News Channel 8

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Published:   |   Updated: May 17, 2013 at 08:13 AM

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Democratic presidential candidate Barack Obama discussed his tax plan and strategies for saving Social Security during an interview today with News Channel 8 anchor Keith Cate.

Obama spoke with Cate via satellite from Dayton, Ohio.

Obama said he would not raise income taxes for families earning less than $250,000 per year. However, he did not rule out increasing the amount of earnings eligible for the payroll tax that funds Social Security.

Obama criticized opponent John McCain's approach to cutting spending from the federal budget. During a debate Tuesday, the Republican proposed a generalized spending freeze on most federal departments besides defense.

"That's like using a hatchet to cut the budget instead of using a scalpel," Obama told Cate. "What I want to do is go through the federal budget line by line, and those programs that don't work, we'll eliminate."

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