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. LJ

    How rich, Obama does not want to work with the Republicans. I believe it is the Republicans do not want to work with the President because they lost the election. Obama has tried to work with the Republicans but they are like a bunch of children; it is my way or I am taking my toys and going home. If only they would leave...

    July 24, 2010 12:14 pm at 12:14 pm |
  2. mamacoo

    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?
    DUDE!!! Where have you been? You really need to face reality. Without the leadership of President Obama and the decisions he has made our country would be in a full fledged depression by now. Get over your hatred and look at what this President has done for our country. What jobs do you expect the President to make beside government jobs which you would be whining about anyway? And what responsibility do the business owners who are sitting on tax cuts, funds and profits and refuse to hire people because they want to help Republicans gain power have?

    The only people using the blame game is people like you and Republicans who refuse to accept responsibility for what their policies have done to this country. You people have blamed President Obama for all of the mistakes Bush made and have refused to support any attempts made by this administration to fix the problems. You all seem to be content with allowing Republicans to thwart EVERYTHING President Obama tries to do only to whine that he hasn't done anything. Guess what? Most Americans don't buy that B S.

    Get over your misguided hatred and face reality. Republicans screwed the country and lost power. They hate the idea that the American people rejected them in 06 and 08. They have provided no answers, no ideas and no cooperation. They have spent the last 18 months trying everything they can to destroy the duly elected President of the United States of America. They have shown the American people that they could care less about the American people in their attempts to destroy President Obama. They have also told the American people that if the get back in charge they plan to repeal everything President Obama and the Democrats have done to make this country a better place for ALL of us. Michelle Bachman was kind enough to let us know that if Republicans returned to power they would spend the rest of his term investigating the President, sending subpoenas and otherwise trying to destroy him. What will that do for our country? But, go ahead and succumb to the fear, scare and smear tactics that seem to work on gullible people like you. Vote against your own best interest and see how you will be rewarded.

    July 24, 2010 12:15 pm at 12:15 pm |
  3. DENNA

    Another victory for President Obama. Now if the business owners would start hiring, jobs would be created. What are they waiting for? I'm no conspiracy theorist, but I wonder if no hiring is going on as part of a plan to make the President fail? The Federal Government is the only one providing jobs right now as part of TARP. In fact, I just read in our local paper this morning that a railroad bypass bridge will be built with stimulus money and will create 1500 jobs and will take at least a year. Now come on local business men AND BANKERS, let's get on the stick. Getting America working again is more important than ANY political agenda.

    July 24, 2010 12:19 pm at 12:19 pm |
  4. B

    It is very clear to see what the GOP is all about now after Obama has proceeded to make real positive change from the total- train wreck- left by The Moron!

    Obama has also succeeded with Zero help from the worthless Republicans.

    Keep it up Boehner, you are Obamas‘s best hope to win again in 2012.

    July 24, 2010 12:24 pm at 12:24 pm |
  5. southern cousin

    This inept, corrupt, union toady is always slamming someone. It has become a badge of honor to be slammed by him because it means you are doing the right thing. Maybe he will tell us again how the "stimulus" is working so well for the corrupt, slimy union executives, or that health care will not cost us one dime more and the mandatory participation is not a tax (even though his own DOJ is defending the lawsuits by saying it is). The slimy crook needs to go on a permanant vacation and leave my retirement and wallet alone.

    July 24, 2010 12:27 pm at 12:27 pm |
  6. jean2009

    Hoover, Reagan, Bush... trickle down does not work, never has worked. It only bankrupts the system. After the third attempt for Republicans to impoverish us all just to make rich people richer, you would think they would know it is obviously not a charm.

    July 24, 2010 12:32 pm at 12:32 pm |
  7. Here we go again...

    Slam...slam and ridicule is Obamas' forte...When is this President going to gear-up and take the blame for passing bills with a huge price-tags attached...drowning the Country in red ink short term and long term....the country is heading for bankruptcy..............!

    July 24, 2010 12:37 pm at 12:37 pm |
  8. Debbie

    Boehner saying Obama is out of touch is laughable... Boehners out of touch because he's in the bag most of the time. As far as the economy goes Boehner says Obama is out of touch because Obama is fighting the GOP Reaganomics one more time. The trickle down from the rich/corporations to the masses just doesn't happen. It's called greed. It didn't work with Reagan or Bush. That's not out of touch, that's reality.

    July 24, 2010 12:38 pm at 12:38 pm |
  9. Neddieboy

    Wow I don't get it. All of the comments have been for or against a President or political party ..... Don’t you understand the Party's are having a Party with our money. If you can't blame all of the idiots that have been chosen for us by the media and campaign contribution (Corporate and Union) controlled political parties ( Obama vs. McCain – our best and brightest / that's a joke ) then you have been brainwashed by our media driven political system. Freedom from the current system of politics is our only choice. Support candidates who give specific answers to specific questions. Make them support an issue, whatever it is, to earn your vote. Are we that dumbed down as Americans that we don’t demand more from our leaders who work and represent us and our country.
    WAKE UP EVERYONE or do you think OBAMA and BUSH and CONGRESS have been living up to America’s Standards ??? GHEEZ !!

    July 24, 2010 12:38 pm at 12:38 pm |
  10. patrick

    Now it makes sense why these racist idiots are acting up. It's got nothing to do with Obama's policy. It is about the man. The can't stand the fact that he is the President.

    July 24, 2010 12:39 pm at 12:39 pm |
  11. patrick

    Thanks, Bill.

    But I'm still waiting ... and waiting .... and waiting....

    Maybe you can help them out

    July 24, 2010 12:40 pm at 12:40 pm |
  12. JOHN

    Let's get back to the policies of George Bush. Those were exciting times. The ultra wealthy were getting even wealthier. The midlle class was suffering and Wall St was out of control, spreading havoc on the nation. Those were the good times. That was good for America. The people who do not want to to go back to those times are crazy.

    Rush Limbaugh and Glen Beck have both convinced me that if the tax break for wealthy is allowed to expire the taxes on my mega salary of $25,000.00 a year at will go up. Shawn Hannity tells me that it is bad for people like me to have health care and Mr. Hannity would never lie.

    My favorite network Fox News is the network of truth. They have never edited a video and would never manipulate the facts to advance any political agenda. Since I cannot think for myself I am happy to have Sarah Palin, Michelle Bachman, Sharon Angle, Rush Limbaugh, Glen Beck do my thinking for me.

    July 24, 2010 12:44 pm at 12:44 pm |
  13. Anonymous

    Good! Get out and take the rest of the southern idiots with you. No Civil War this time. We don't want you!

    July 24, 2010 12:48 pm at 12:48 pm |
  14. Warren Matthews

    Good! Get out and take the rest of the southern idiots with you.
    No Civil War this time. We don't want you!

    July 24, 2010 12:49 pm at 12:49 pm |
  15. Nando

    I have no Problem Taxing the hell out of the RICH !!!!!!!! they have had since 2003 to SAVE MILLIONS on the backs of the MIDDLE CLASS !!!

    July 24, 2010 12:53 pm at 12:53 pm |
  16. Randall in Torrance, CA - It is time to put the heels of our Liberal Democratic Boots on the necks of the out-of-control Republican's and morons like small "s" senator very minority Boehner the Boner

    Yes senator Bonehead Boehner, you are correct. Obama is out of touch. He is out of touch with yours and every other retarded out-dated failed moronic idea and plan in your puny brains that would keep America in the sewer of Republican diarrhea for eternity.

    You are so StOoPiD senate-whore Boehner that you do not even realize how much you resemble the wooden marionette, Howdy Doody. In fact you are Howdy Doody. Your head is a petrified wooden stump from the stone age that is incapable of one intelligent thought.

    Senate-whore Boehner, you and anyone who follows you is a certified puke breath maggot. Hurry up and die so the world can be a better place to live.

    In JESUS name – AMEN.

    July 24, 2010 12:55 pm at 12:55 pm |
  17. Getz

    ...I am blown away that people can't see just how muhc the President has accomplished since coming into office . Coming in during the worst economic situation in 80yrs but yet the policies that sunk us in this hole took 8yrs but the " Red State Geniuses " expect it to turn around in less than 2 yrs??? stop drinking the Republican coolaid these people who have nothing ..nadda besides ABO( Anybody but Obama) policies..if you vote those them in power .. you deserve the consequences that WILL happen..and I'm independant but am not thirsty for what Republicans are serving.

    July 24, 2010 12:57 pm at 12:57 pm |
  18. Marie MD

    boner and his party of bozos are destroyint this country. I wouldn't put it past them to already have in place a plan for companies not to hire until after the November 2010 elections.
    These rethugs are scary because they don't care about Americans. They only care about lining their pockets with corporation and lobbyists money.
    Repugs have no solutions of their own. Their platform is to make sure something sticks to make "it" the President's waterloo.
    @Patrick is right – pence was asked what solutions he had time and time again . . . . still waiting for an answer. It's all about what President Obama is doing "wrong" (what they see in their small brains) not what he has done and how they can help.

    July 24, 2010 01:05 pm at 1:05 pm |
  19. gr

    Penn could not say what the Republicans last week and not he is all talk. give me a break. What is your plan Republicans? We are still waiting. You can not critize someone plan if you do not have one of your own. I don't care the President Obama plan is not working as fast as we would like it ,but at less he have a plan. Now once again Repubicans plans is your plan other then tax cuts for the rich?

    July 24, 2010 01:07 pm at 1:07 pm |
  20. ty

    all these people on here that are saying "we are behind you mr president!" the latest polls have showed the complete opposite and come november mr obama will realize that good luck getting things passed after november obama! oh, and for all of the obama supporters out there, he WILL be a one term president!!! and its funny that he says it takes 8 years to get us into this mess when the height of this economy was somewhere between 2000-2005 and bush had one of the highest approval ratings his first term.

    July 24, 2010 01:08 pm at 1:08 pm |
  21. RTB

    What a monumental job the President has been given.

    The Republican policies have devastated the economic system.

    The policies this administration are implementing are for the benefit of the country.

    Too bad the right wing -wind bags don't like it.

    July 24, 2010 01:08 pm at 1:08 pm |
  22. bobden

    Bonehead, how would you know what the people want? You only talk to your rich friends, who only want more money for themselves.

    A large part of our current unemployment is a direct result of allowing corporate thieves to send jobs to other countries, to get lower labor costs, but still deduct those out-of-country costs from their taxes.

    That's fair?

    Bring the jobs back to out side of the world.

    July 24, 2010 01:10 pm at 1:10 pm |
  23. Tom-Vermillion, Ohio

    Oh, oh yea Mr. Boehner, what is YOUR opinion of those CEOs & Execs of financial institutions that made $Billions while the economy was on the brink of collapse and bailed out with taxpayer money. Was that Okay? You also, ORDERED the President to "plug that hole" in the Gulf. And you demand that the President respect your opinions? I also want to know ALL about those 200 or so imputs in the Health Care Bill. I heard a few of those were intentionally put in so the Dems couldn't win? (like the viagra one). Just who is really the jackwagon here anyway. I like to know.

    July 24, 2010 01:15 pm at 1:15 pm |
  24. Gaylon Barrow NOT ASHAMED for the truth!!!

    OBAMA is a laughing joke. For all you Obamanites that keep blaming the Republicans. I was a Democrat for 50 years but with Obama I see the light. He is a Muslim through and through. He intends to destroy America. You blame Jr and Cheney for the Economy. YOU FORGOT THAT THE DEMOCRATS CONTROLLED CONGRESS FROM 2007 UNTIL NOW. YOUR BLAME IS STUPID LIKE YOUR BRAINS.

    July 24, 2010 01:16 pm at 1:16 pm |
  25. Stymie

    uhbama is a disaster.

    July 24, 2010 01:18 pm at 1:18 pm |
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