July 24th, 2010
10:40 AM ET
8 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. Charlie in Maine

    TRENDING: Tennessee Republican floats secession threat

    Come on CNN. You give us a juicy headline like that and no space for comments?? That is not fair.

    Well I will comment anyway. Don't let the door hit you on the way out. Maybe if all those talking secession were to leave we would not have so many crazies trying to ruin our country. There must be some country that would take them.

    July 24, 2010 11:32 am at 11:32 am |
  2. Chispter

    Boehner helped the Bush Administration "borrow and spend" us into this mess. He embraced unfunded mandates that bankrupted state governments and supported a costly and unnecessary war in Iraq that allowed those responsible for 9/11 to escape. Now, he and his incompetent Republican cronies think they can convince voters that they deserve a second chance? It will take a long time to recover but, if voters are stupid enough to give return these fools to power, we may never recover. Supply-side economics is exactly what Bush #41 called it: Voodoo Economics!

    July 24, 2010 11:33 am at 11:33 am |
  3. roro

    Does Boner actually think the people of this country are stupid enough to want to go back to what the Republicans did to us? He and his followers have offered NOTHING but NO. They brought us into this recession, and now they want us to send them back into office to continue their destruction. We lost all those jobs thanks to Republicans, and now they're crying because we haven't been able to get them back soon enough. WHAT THEY DID WILL TAKE A LONG TIME TO UNDO. We need to put more Dems into office so they can pass the legislation necessary to move this country forward without the party of NO blocking everything and then crying that nothing has been done. Doesn't anybody see the hypocrisy here?

    July 24, 2010 11:33 am at 11:33 am |
  4. sensible Cape Coral FL

    The only way someone can continue to be a Republican is to make a definite effort to remain uninformed on important issues or worse mis- informed.

    July 24, 2010 11:33 am at 11:33 am |
  5. sensible Cape Coral FL

    I'm with Charlie in Maine. Stop with the teasers, CNN

    If Tennessee wants to suceed, please give me an address so I can end a donation to the cause.

    July 24, 2010 11:37 am at 11:37 am |
  6. Big John

    It took 8 years of Bush to destroy our economy and though we've avoided the "depression" it may take another few years to fully recover. Thank you Mr. President, we democrats know we're on the right track, it's too bad the republicans aren't smart enough to see it. Their problem is that too many of them listen to morons like Boener, Mitchel, Limbaugh, Beck, Bachman, and the quitter from Wasilla

    July 24, 2010 11:39 am at 11:39 am |
  7. Impeach this fool!

    Trending: The American people slam Obama.

    Just get out of our lives Obama. You're a child, and an incompetent one at that. And, you're not as smart as white liberals say you are. In fact, you're pretty much an idiot. Grow up and stop blaming others all the time. Nobody likes a weakling.

    July 24, 2010 11:41 am at 11:41 am |
  8. Lets send Rush and Sarah the bill.

    We will take Socialism over a Corporate Fascist,One world Government anyday.

    July 24, 2010 11:43 am at 11:43 am |
  9. reggie from la

    Now let me get this straight because I am not as smart as many. If we give tax breaks to the rich, they will give us jobs. Stay with me now. I did not say Small Businesses, where people are working hard to make a living. Don't get confused. I'm the dumb one here. If we give to them, they will give to us; as if we are 2 different Americas. Well, we kinda are. So, if we don't give to them (in the form of tax breaks and other leverages) they won't give us jobs. I know what you are saying, "they more they are able to invest, the more jobs". Stop..stop. I said to stay with me. THEY ARE RICH...ALREADY!! I knew you'd screw this up. They are rich already and they want more and they TELL US if we cut them slack, they will give us jobs. Sounds like extortion. Duh. There I go using a big word. I got another word, but moderators won't let me use it.

    July 24, 2010 11:44 am at 11:44 am |
  10. A keen observer

    It is about time the President takes on the do-nothing republican leadership. The republican goal is to get the black man out of the White House at any cost. I hope the American electorate wakes up and removes all republican obstructionists from Congress in Novermber.

    July 24, 2010 11:45 am at 11:45 am |
  11. Joey

    The Obama Administration can blame Bush all they want, but it will not help his Democratic buddies in November! He does not have a clue about the economy. Also, Nevada, please do us all a favor and vote Harry Reid out of office. The Democrats may will need to sign up for their unemployment benefits!

    July 24, 2010 11:50 am at 11:50 am |
  12. vikram alladi

    If Republicans take power, it is downright destruction for in terms of economy, foreign policies and science. Let us take it from there.

    July 24, 2010 11:51 am at 11:51 am |
  13. Bill in CA.

    @patrick...that's because Matthews never lets ANYONE answer ANYTHING because of his inane chatter and constant harangue of everyone that appears on his "Hardboiled" show. He and that driveling fool Olberman give ALL hosts a bad name!!!

    July 24, 2010 11:52 am at 11:52 am |
  14. Tom-Vermillion, Ohio

    Regarding the statement above, that is "Boehner shot back Saturday, calling Obama "out of touch."" Well Mr. Boehner, you also speak many times of the 'American People' don't want this or they don't want that. I am supposedly one of those people AND I am of sound mind. I have a lifetime of paying taxes, have absolutely no felonies, no misdemeanors, I am consciencious and quite aware of the world around me. Usually, as well, I have a pretty good sense as to judging people's character and there degree of "intouchedness". Let me say this, all that you have accused Obama of being, I do NOT see those qualities in him, however I DO see those qualities in you. Your so called leadership and others like you have brought much shame to the Republican Party, a party I once respected. You are lucky I'm not President. With your kind of trash talk, I'd have the Secret Service grab you by the collar and belt, and throw you onto the White House lawn. You are from my state, the State of Ohio. I can say this with a high degree of certainty that you do NOT represent the majority of the American People. And we will do whatever it takes to make sure you are out of Congress come Noverber. I am an Independant Voter. Remember citizens of Ohio 8th Congressional District. Vote for the other person, NOT John Boehner. Do this for the good of your Country and the Republican Party. This man's not right in the head. He is delusional.

    July 24, 2010 11:53 am at 11:53 am |
  15. phoenix86

    Someone needs to start questioning Obama's mental capacity. Failure to recognize reality is a mental disorder.

    July 24, 2010 11:54 am at 11:54 am |
  16. Dont forget to thank a Globalist if you dont have a job.

    Keep up the great job Mr.President.

    July 24, 2010 11:55 am at 11:55 am |
  17. Troll much?

    Too many left-wing trolls here. All probably posting from the White House basement. You ain't fooling anyone.

    Obama is an idiot and the people know it. Deal with it..

    July 24, 2010 11:56 am at 11:56 am |
  18. rob

    So much for non partisanship. President Obama talks about the Republican plan costing 1 trillion, he means the huge tax increase coming in January when the so called Bush tax cuts expire. News flash to you folks who only get your news from CNN or the NYT etc. Many Dems are talking about not letting them expire because it will create more drag on the already bad employment situation.

    President Obama's policies and huge new spending and Govt entitlements have not helped at all with the economy or the unemployment rates. In fact it has created a negative environment for real private sector economic growth and job creation. The Liberal media like CNN will not dig in and analize his policies or his propaganda for the reality, luckily we do have other FAIRER sources to get news.

    July 24, 2010 11:57 am at 11:57 am |
  19. La Piovra

    It is in the interest of the plutonomists and megafinance NOT to hire workers or help small businesses, so that the suffering "small people" will turn the present officeholders out. Will they then reward the "small people" with better times? When not obfuscating, they have said what they will do: repeal or defund all beneficial legislation, deregulate all large interests, allow the environment to be plundered, cut the unemployed loose without a sou or a prayer, apologize to BP, and conduct endless inquisitions of anyone who opposes or ever opposed them. Don't put it past them to employ torture to that end, either.I was born in 1943, the year of the cornfield volcano, steel pennies, and the Hinge of Fate, and I am not and will never be senile enough to assent tothat. I doubt many of the others I grew up, and old, with, are either.

    July 24, 2010 11:58 am at 11:58 am |
  20. vic

    Republicans doesn’t have plan to create jobs fpr us but they have plan to create jobs for them attacking Obama and misleading us

    July 24, 2010 12:00 pm at 12:00 pm |
  21. Paul

    Thank you President Obama for signing this new bill into Law. We have not forgotten that millions of jobs and homes were lost thanks to BUSH, the GOP and their pals in Wall Street.

    We cannot go back to the GOP's failed policies that resulted in our current recession. Despite the fact that recovery will take time, at least we are not losing 8,000,000 jobs in a few months as we did during the Bush administration

    July 24, 2010 12:03 pm at 12:03 pm |
  22. gideodog

    you're right reggie-why should you give them tax breaks-tax them to the top. the doctors with the med school loans bigger than most houses, the two professional families, the small business owners that take on the risk and work the 80 hr weeks to make sure that there is work tax them, tax them to the hilt so they get the same as you right reggie. they're rich, right reggie...they shouldn't make anything more than you right reggie??

    every time in history marginal tax rates have been raised job creation has fallen through the floor. do you have a job reggie? would you like one?

    in a global economy you cut taxes to be more competitive with the over seas competition-the ones that work cheaper than domestic.

    President is on the right track?-too many parallels to the New Deal and Johnson's guns and butter Roosevelt didn't fix anything it was called WWII- By a book sycophant

    July 24, 2010 12:06 pm at 12:06 pm |
  23. Willy Brown

    Everything this clown has rammed down America's throat is all about control and power.. Hope & change, hope & change

    July 24, 2010 12:10 pm at 12:10 pm |
  24. The only sane one in Wyoming

    Why didn't you people ask BUSH where the jobs are when America was shedding millions of jobs a month during his term? Where were you PATRIOTS then? Such hypocrits!!

    Keep up the good work President Obama. It took eight years for Bush and Boehner to dig us a whole all the way down to rock-bottom....and thus, your supporters are patient enough and intelligent enough to realize it might take eight years to get us back out of the hole. It's been less than two years -you have another 6.5 years to get us on the right track, and you are doing magnificent so far!!

    OBAMA 2012

    July 24, 2010 12:12 pm at 12:12 pm |
  25. Tom-Vermillion, Ohio

    Might I add to my previous comment the following: Ohio's 8th Congressal District has one major entity. That entity is Wright-Patterson. Other than that, the land is mostly agriculture. Could it be that Mr. Boehner actually represents big business defense corporations and not his constiuents that vote him into office? Sure does not seem like he gives a hoot about the little guy and small business owner in reality. And sorry for the grammer and typos. I never was good at that.

    July 24, 2010 12:14 pm at 12:14 pm |
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