Obama set to go beyond $1.5 trillion budget cuts: sources

US President Barack Obama is preparing a detailed deficit-cutting plan that goes beyond the USD 1.5 trillion target a congressional committee is aiming for, White House officials said on Wednesday.

The officials said job creation measures may be part of the final package that comes from that so-called super committee, which was created to identify extra budget savings as part of a deal to raise the debt ceiling.
Obama's deficit-cutting ideas will be included in a major speech on job growth planned for early September. His jobs plan has not been finalized but may include measures including tax cuts, infrastructure investment, help for the long-term unemployed and support for specific sectors of the economy in particular need, the administration officials said.