Adviser says Obama backs 'targeted investments'

[January 25, 2011]  WASHINGTON (AP) -- Senior presidential adviser Valerie Jarrett says the Obama administration believes it can make "targeted investments" for job creation while simultaneously supporting cuts in the budget.

Jarrett tells CBS's "The Early Show" investments are necessary in education and infrastructure to encourage business formation and hiring. She says President Barack Obama's State of the Union speech Tuesday night will focus on "winning in America."

Sen. John McCain, an Arizona Republican, appearing on CBS, says the government "is going to have to make painful changes" in order to bring the budget under control.

Jarrett says Obama "wants to create an environment" more conducive to hiring and economic growth. McCain says the "fundamental difference" the people will see Tuesday night is that Obama wants to spend money and Republicans want to slash spending..

[Associated Press]

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