July 24th, 2010
10:40 AM ET
4 years ago

Obama touts Wall Street reform bill, slams Boehner

Washington (CNN) – President Obama used his weekly radio and internet address to tout the Wall Street reform bill signed into law this week but also slammed House Minority Leader John Boehner, saying the Republican's plan to create jobs is "surprisingly short, and sadly familiar."

"[W]hat we can't afford right now is to go back to the same ideas that created this mess in the first place," Obama says. "Unfortunately, those are the ideas we keep hearing from our friends in the other party. This week, the Republican leader in the House of Representatives offered his plan to create jobs. It's a plan that's surprisingly short, and sadly familiar."

"These are not new ideas. They are the same policies that led us into this recession. They will not create jobs, they will kill them. They will not reduce our deficit, they will add $1 trillion to our deficit. They will take us backward at a time when we need to keep America moving forward."

Boehner shot back Saturday, calling Obama "out of touch."

"Out-of-touch and unable to sell his agenda in the face of near-double-digit unemployment, President Obama is resorting to partisan attacks, rather than working with Republicans to help the American people, who are asking, 'where are the jobs?'" Boehner said in a statement.

"The fact is that Washington Democrats' policies have created uncertainty that has undermined our economy, shaken the confidence of the nation, and cost millions of American jobs. Our nation needs leadership – not excuses," the House Republican leader continued.

Partisan words aside, Obama devotes the bulk of his address to praising the Wall Street reform bill he signed into law on Wednesday. The bill's passage is a major legislative victory for the White House, and the President delivered a message sure to be repeated in the lead up to November's midterm elections.

"Wall Street reform is a key pillar of an overall economic plan we've put in place to dig ourselves out of this recession and build an economy for the long run – an economy that makes America more competitive and our middle-class more secure," Obama said. "It's a plan based on the Main Street values of hard work and responsibility – and one that demands new accountability from Wall Street to Washington."


Filed under: issues • Jobs • John Boehner • President Obama • Wall Street
soundoff (111 Responses)
  1. Where are the jobs Obama?????

    Obama continues to avoid the economy and the jobs that are not being created,,,,,,,,he is only concerned with his socialist/commie agenda and we are suffering because of it......

    July 24, 2010 10:49 am at 10:49 am |
  2. Jess C

    Boner, you spend far too much time in the tanning booth. Obama's taking a hit in the polls for the economy so it makes it convenient for the GOP to blame him for their mess. We have gullible old folks at home during the day to answer the poll phone calls; most likely watch Fox News (not really news). I'm a moderate, but I don't blame the current admin. for trying to find solutions to this mess. GOP has none. As with the energy bill, Reid will get slammed because it's so anemic due to the fact that the Dems have to appease the GOP to get anything moving even at a snail's pace. We need energy policy changes and we can't wait; this is pure BS! Same reason why so many are disappointed with the Health Care Reform; had to scale it back from what Obama wanted...to appease the GOP insurance-backed whiners. Where's the public option? This is why even the libs aren't happy; not the reasons the GOP claims. Yes, I wish Obama did not negotiate; just like Bush did not negotiate. Push policy through now!

    July 24, 2010 10:51 am at 10:51 am |
  3. jim

    President Obama is the only person that can do anything to get the economy back to where it should be. Unfortunately he hasn't done a darn thing since becomming president to do this.He just plays the blame game.Turning our monetary system into nothing more than monoply money isn't going to get the job done.Where is the vision and the leadership?

    July 24, 2010 10:51 am at 10:51 am |
  4. Obama can only be compared to....

    Chauncey Gardiner in "Being There" starring Peter Sellers......remember the line: "There will be growth in the spring."

    July 24, 2010 10:52 am at 10:52 am |
  5. J. Klapper

    Just wtf is Obama meant to work with a group in congress that's entire platform is to be against anything that Obama or the other party suggest? The very few idea's that have come out of these so called leaders have been instantly repugnated should anyone in the majority say's "Hey, that might just work." Not to say the Dem's are all the\hat bright of a light, but at least they are suggesting things rather than just say no (I'm sure Nancey Reagan must be so proud of how her anti-drug slogan has been re-treaded by the "new" post Reagan GoP)
    The old saw of Lead, Follow, or get out of the Way, is pretty applicable when it comes to this GoP...
    BTW, I was one of the write-in's for Ron Paul, so I'm most certianly NOT an Obama fan

    July 24, 2010 10:59 am at 10:59 am |
  6. Gil

    why would any middle class or low income American find anything to support out of the Party of "NO?" It is just more talk from Boner about the haves wanting more and just say NO to the have nots.

    July 24, 2010 11:00 am at 11:00 am |
  7. patrick

    On hardball, Chris Matthews asked the #3 republican in the Mike Pence, what the republicans' plans are to get us out of this mess, about 4 times the question was put to him, Mike Pence never gave an answer. Don't tell me what the other guy is doing wrong; please just tell me what you can do right. What are your solutions to fix the economy? If my house is on fire, i would prefer you tell me what I need to do to put the fire out, instead of telling me what the firefighter is doing wrong. In other words, you are not being helpful.

    Republicans, I am waiting ... I'm waiting ... and waiting ... and waiting ...

    July 24, 2010 11:01 am at 11:01 am |
  8. jeremy..Big D..Tx

    I am conservative who supports tax cuts BUT only if they are paid for. Unpaid for tax cuts to the rich contributed to the deficit we fight today. We cant have it both ways.

    July 24, 2010 11:05 am at 11:05 am |
  9. Izzy

    Obama is the shepherd I did not want.
    He leadeth me beside the still factories. He restoreth my faith in the Republican party.
    He guideth me in the path of unemployment for his party's sake.
    Yea, though I walk through the valley of the bread line,
    I shall fear no hunger, for his bailouts are with me.
    He has anointed my income with taxes,
    My expenses runneth over.
    Surely, poverty and hard living will follow me all the days of my life,
    And I will live in a mortgaged home forever.
    I am glad I am American, I am glad that I am free.
    But I wish I were a dog ...
    And Obama was a tree.

    July 24, 2010 11:10 am at 11:10 am |
  10. JD

    It was easier to pass Health Care and Wall St. reform with the economy being bad. It's been easier to pass this legislation with a dispirited country.

    I think Senator Dodd probably showed the real cards when he said this week that the capital sitting on the side-lines should start to come back into play now the Regulation Reform is done. It seems to suggest that they were aware that an economic turn-around would have made Health Care more difficult, along with Wall St. reform. Wouldn't have been as easy to demonize people without a lot of people suffering. Read into that comment what you will.

    TARP worked. The Stimulus failed. President Bush 1, President Obama 0 on managing the financial crisis.

    July 24, 2010 11:11 am at 11:11 am |
  11. Grace S

    "They will not create jobs, they will kill them. They will not reduce our deficit, they will add $1 trillion to our deficit. They will take us backward at a time when we need to keep America moving forward."

    Sounds like Obama is talking about himself. He has not moved our country forward, but has dug us deeper into debt by the Democrats' "Spend your way out of debt" philosophy. His "new ideas" have contributed to our debt, and he is continuing our recession. No, I don't see any good ideas coming from Obama. Next!

    July 24, 2010 11:11 am at 11:11 am |
  12. steve

    It's Bonehead that's out out touch. Giving more money to rich people doesn't trickle down or help anyone but that person. We learned that from Regan who had to raise taxes to recover. Time to start curbing special favors, influence, and importance of rich people. We are quickly losing the American dream for everyone else Let's stop praying to the God of money and do kind deeds locally that are sincere not just to avoid taxes and get our picture in the paper.

    July 24, 2010 11:16 am at 11:16 am |
  13. Rob NY

    Mr. President, They are not "our friends" in the other party. They are anything but.

    July 24, 2010 11:17 am at 11:17 am |
  14. ib

    What right has Obama got to say anything. Unemployment never hit 10% under Bush and now Obama is saying this about the republicans!!!!!!!! Obama never does anything wrong so of course it's the republicans or Bush's fault that after all his out of controll spending the unemployment rate is still higher under him than it was when he came into office. What a joke!!!!!!!

    July 24, 2010 11:17 am at 11:17 am |
  15. Bernice

    If you're waiting for a republican to come up with a solution..I pray you've got lots of time to wait...They don't have the brain to come up with anything other than take poor folks money.. claiming to be christians & laughing all the way to the bank.. Also, Don't forget, those that voted for O'Bama, still support him...We'll see in 2012...
    CNN supposedly polls 1,000 people..WHOOPY, not a big number when we have millions in our country..WAKE UP PEOPLE!!!

    July 24, 2010 11:20 am at 11:20 am |
  16. thor

    Obama approach on the economy is like his handling of the disaster in the Gulf. He goes and plays another round of golf or goes and eats another ice cream cone.!!! Then he goes out and reads a speech from his teleprompter that says "I feel your pain and i'm working hard for you"

    July 24, 2010 11:21 am at 11:21 am |
  17. lati f

    Obama is a good president he needs more time to get the economy right. all you people talk about is spending. you tell me how you can create a company or jobs without spending money.

    July 24, 2010 11:21 am at 11:21 am |
  18. chris

    First, the Republicans say it is not the role of government to create jobs. Then they turn around and blame Obama for the unemployment rate, saying he hasn't created enough jobs. Which one is it?

    Of course, the GOP plan for the economy is the same worn out, failed policies that get us all into this mess in the first place. Only this time, they insist, the results will be completely different.

    The whole problem with Republicans is it all about the blind pursuit of ideology, without the slightest regards for actual facts or results. God gave Man dominion over the Earth. So it follows, Man can do whatever he wants to in regards to the environment, and there will never be any consequences or effects. Therefore, global warming is just a liberal lie and it doesn't matter how many scientist support it with all their useless data and studies. Saint Reagan said trickle down economics and deregulation work. QED: they do work. And so the economoic melt down that followed 8 years of Republican policies must all be the fault of the Democrats.

    July 24, 2010 11:21 am at 11:21 am |
  19. Dave

    We heard enough about "not going back" and other scare tactics. We are totally not convinced Obama is the right man for the job, beside photo op's he has done nothing toward solving the major problems. His campaign was good at pointing the problems under Bush, but in reality the magnitude of these problems has just increased under him. The president is expected to be in the "solutions" side, not on the "criticism of the opposition party" side (leave criticism to minor players and concentrate on problems the American people have). If this continues like this (campaigning all the time) we are convinced nothing is being solved and the 9% unemployment predicted till 2012 will even increase. Stop the ideological agenda and start solving our problems if you want to be appreciated better than Bush.

    July 24, 2010 11:23 am at 11:23 am |
  20. Old Folks, Tx

    @JESS C–I'm an "old folk", at home, who never watches Fox News and
    never will. We have earned our "time at home" and gullible is not a
    word we accept. I will take you, and any other so-called young
    person on, regarding the politics of today. Informed people do not
    look at age, they look at intelligence, sincerety, true concern for
    all Americans, and most of all real solutions for real problems. Good
    luck, kid!

    July 24, 2010 11:24 am at 11:24 am |
  21. Darrell

    People are asking where are the jobs? The question should be: Why are Am. Corporations, who making profits and investing in other countrys, not spending in Am. and hire Americans.

    Folks: Bush policy: 750,000 jobs lost per month. We now creating some jobs and not losing over 700,000 per month. Things are moving in the right direction: from a negative to a positive. Under Bush, it was the reverse.

    So, for you Obama haters, my choice is Obama and Dems, not the old policies that brought a recession and 8 million job losses.

    July 24, 2010 11:25 am at 11:25 am |
  22. Old Folks, Tx

    @IZZY – you are one sick human being.

    July 24, 2010 11:28 am at 11:28 am |
  23. Jeff Brown in Jersey

    Stay focused Mr. President! We are behind you!

    July 24, 2010 11:30 am at 11:30 am |
  24. Michael

    I wish someone would take the time to explain to American's the true meaning of socialism, maybe then they would stop listening to right wing politicians that skew the actual benefits it brings to a civilized society.

    July 24, 2010 11:31 am at 11:31 am |
  25. I now own a piece of paper that says I own gold,hahaha

    Yes we can,because we have the power,not the morons who love Fascist Corporate scumbags.Small businesses are the backbone of the country now,not the international scumbags.

    July 24, 2010 11:32 am at 11:32 am |
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