get ground on in next two years and the economic advisors say spending cuts will show up in a matter of weeks. when he releases the budget in a few weeks, no question it will show that he knows we have to make tough decisions. you will see that. there is little chance the cuts will satisfy the republican pledge to roll back spending to 2008 levels but experts are predicting a big economic boost from the tax cut compromise reached in the lame duck session. officials here hope it will serve as a model for some bipartisan cooperation in the next two years. bret? wendell goler live in the north long. bret: now for really big numbers. peter barnes reports on the fight over whether to raise the country s credit limit which stands at over $14 trillion. another $4 billion tacked on to the national debt. another day of political fistfighting over what to do about it.
unvarnished advice that will help us craft the best policies to strengthen this economy in the years to come. now, part of our mission, part of this team s mission in the months ahead will be to maximize the steps we ve taken to spur the economy. and one of the most important is allowing businesses to immediately deduct the entire cost of certain investments like the new equipment that i was taking a look at. this is a policy i fought for over the past two years. we were able to pass it, finally, as part of the tax cut compromise. it is going to make a real difference for our economy. so, talking to rick, i know thompson creek is planning to take full advantage of this tax break and that s going to help thompson creek renovate, expand and add another 100 new employees right here.
unbiased, unvarnished advice that will kept craft the best polices to strengthen this economy in the years to come. now, part of our mission, part of this team s mission in the months ahead will be to maximize the steps we ve taken to spur the economy. and one of the most important is allowing businesses to immediately deduct the entire cost of certain investments like the new equipment that i was taking a look at. this is a policy i fought for over the past two years. we were able to pass it finally as part of the tax cut compromise. it is going to make a real difference for our economy. so talking to rick, i know thompson creek is planning to take full advantage of this tax break and that s going to help thompson creek renovate, expand, and add another 100 new employees, right here.
jason furman working with him. i am pleased to elevate him to principal deputy at the economic koubsal. give him a big round of applause. over the past two years, i have relied on jason s advice and expertise on a range of economic issues from helping design the emergency steps we took to prevent our economy from sinking into a second depression to most recently working with gene and the economic team to pass the tax cut compromise. i m confident that he will continue to do terrific work in this greater capacity. we re also joined by somebody i ve come to rely on as an adviser and a friend since my first days as a presidential candidate. heather higgenbomb the director of the policy council where she has been the point person on
the revised numbers were a really good sign, but, there s still a lot of people out of work and still a lot of people struggli struggli struggling. while you want to encourage, hey, we re rr moving in the right direction, we have to keep at it and keep doing the hard work. i would say that we would cause this note or this statement from the new speaker of the house, mike, tepid at best. and not unexpected. but it does feel like the administration is making an effort, doesn t it? february 7, the president is going to speak to the u.s. chamber of commerce, not a group with which he has been very chummy. two weeks ago, he met with 20 ceos and name gene spurling to help with the tax cut compromise and bill daley somebody that even the u.s. chamber of commerce and ceos are really happy about. does this, in a way, put pressure on the republicans to compromise? is he showing the other side that he really is making an effort? i think he is.