WASHINGTON - President Barack Obama proposed a variety of programs on Tuesday to boost U.S. employment, including cutting taxes for small businesses to boost hiring.

He also said savings from the Troubled Asset Relief Program, or TARP, would be used to both pay down the deficit and fund plans to boost job creation.

There are those who claim we have to choose between paying down our deficits on the one hand, and investing in job creation and economic growth on the other. But this is a false choice, he said in a version of the speech prepared for delivery.