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"That would be a tremendous blow," Obama said. "And it's completely preventable." Romney agreed with that conclusion even in the midst of blasting Obama's economic leadership. "Given the bleak job prospects that young Americans coming out of college face today, I encourage Congress to temporarily extend the low rate," Romney said in a statement. Obama and Romney are championing what amounts to a one-year, election-year fix at a cost of roughly $6 billion. Congress seems headed that way. Members of both parties are assessing ways to cover the costs and win the votes in the House and Senate, which is far from a political certainty. All parties involved have political incentive to keep the rates as they are. Obama carried voters between the ages of 18-29 by a margin of about 2-to-1 in 2008, but many recent college graduates have faced high levels of unemployment. That raises concerns for the president about whether they will vote and volunteer for him in such large numbers again.
[Associated
Press;
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