Saturday Speeches: Payroll Tax, Red Tape [VIDEO]

President Barack Obama and Republicans are talking money and taxes in their weekly radio and Internet messages.

Obama is asking Congress to extend a payroll tax cut for the remainder of the year before taxes go up for millions of working Americans. A two-month extension runs out at the end of the month and Obama says Congress "needs to stop this middle-class tax hike from happening. Period. No drama. No delay."

He says failure jeopardizes the economic recovery.

For the Republicans, Virginia Gov. Bob McDonnell applauded efforts by GOP governors across the country to contain spending and reduce their state budget deficits. McDonnell says Obama's proposed federal budget coming out Monday will impede job creation by calling for tax increases and continuing the administration's health care policies.

He says lower taxes, reduced regulations and red tape will create jobs.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)