The NEW, New Deal

Obama unveils new initiatives for middle class

The proposals would:

* Require companies that do not offer retirement plans to enroll their employees in direct-deposit retirement accounts unless the workers opt out.
* Increase the "Savers Credit," a tax credit for retirement savings, for families making up to $85,000.
* Change some of the rules for 401K employer-sponsored savings accounts to make them more transparent.
* Increase the child tax credit rate to 35 percent of qualifying expenses from the current 20 percent for families making under $85,000 a year. Families making up to $115,000 would be eligible for some increase in the tax credit.
* Increase child care funding by $1.6 billion in 2011 to serve an additional 235,000 children.
* Boost government spending by $102.5 million for programs aimed at helping families who provide home care for an aging relative.
* Ease the burden for student loans by limiting a borrower's payments to 10 percent of his or her income above a basic living allowance.

I know this will be dumb question, but how is this going to be paid for? (How can we be out of money?  We still have checks!)