It was an approach to shrink the deficit as a share of the economy, but not to do so so abruptly with spending cuts that would hamper growth or prevent us from helping small businesses and middle-class families get back on their feet.

WHITEHOUSE: President Obama on Economic Growth and Deficit Reduction

Our preferred strategy is to provide meaningful tax relief directly to middle-class taxpayers and the small businesses that they operate or work for.

CNN: Commentary: Big risk in Obama's economic stimulus plan

The real losers are small business owners, or what might be called the aspirational middle class.

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According to the AFDB report, members of Africa's growing middle class are better educated than their poor counterparts and tend to have salaried jobs or small businesses.

CNN: Are one in three Africans really middle class?

Would you rather fight for special interest tax breaks, or do you want to fight for tax cuts for small businesses and middle-class families in your neighborhood?

WHITEHOUSE: President Obama at Forum on American Latino Heritage

Even in the hardest-hit economies such as Spain, Ireland, or Portugal, groups of healthy small- and medium-size businesses and middle-class households exist that constitute good risks.

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