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. Donna from Colorado Springs

    The President is right. Republicans never have any new ideas and are perfectly happy to use retreads of old ideas that failed miserably! They talk a good talk, but if you corner them and make them actually try to come up with an alternative , they mumble and run away! Even though our country is in serious trouble right now, we ABSOLUTELY DO NOT NEED REPUBLICANS TAKING OVER AND MAKING THING MUCH WORSE!

    July 24, 2010 01:20 pm at 1:20 pm |
  2. Jilli

    Another accomplishment by the Obama admin. Finally protectons for the consumers – and regulations for the crooks in the financial industry. The rollback of Reaganism is in full force – and the majority will benefit.

    Oh, Boehners in touch alright – but with the wrong people. His primary interests lie in benefitting the top 2% and big business – the same old republican song and dance. Meanwhile, the middle class is in decline. But more tax cuts to the top 2% are the cure, right boehner? The first two rounds of bush tax cuts cost us over 1.4 trillion dollars (piled directly onto the deficit) and only created 3 million jobs – many of which were shed before GW Albatross even left office. That's what I call failed policy.

    It's time for some realignment in this country – take the burden off the middle class and let the corporations pay their fair share. We're heading in the right direction.

    Republicans are not fiscal conservatives – they never have been, check the historical records – the republicans are responsible for expanding the deficit to unimagined proportions and have caused more economic problems for this country. How many times will some be fooled with their same old lies?

    July 24, 2010 01:33 pm at 1:33 pm |
  3. Gary, Hunt Valley, Md.

    My friends, we must do everything in our power to help the richest 2 percent of our citizens. Please, call your representative and plead with him or her to take pity on the most well-off in our society. Don't ask the rich to pay up and do their part to combat the deficit. They must have more tax breaks so they can maintain their third homes and their yachts and continue to take at least two expensive vacations per year. Our lives and our economy depend on it. Do not let the tax cuts expire. Please, help the rich.

    July 24, 2010 01:34 pm at 1:34 pm |
  4. Mesa Mick

    HEY – phoenix86. Reality has a natural liberal bias, deal with it...

    July 24, 2010 01:34 pm at 1:34 pm |
  5. ib42

    Boehner is a toad of a man, with the brain advantage going to the toad.

    July 24, 2010 01:36 pm at 1:36 pm |
  6. Hoosier

    Pardon me all you Obama haters if I don't give a flip about the "tax increase" coming in January. I have absolutely no sympathy for people making over $200,000. The simple fact of the matter is we either need to raise taxes or cut spending. We can't cut Social Security so what do you want to cut? Welfare and unemployment insurance? How magnaminous of the Republicans to care about those who have no wants and throw the poor into the streets. I say if we cut anything start with the $600 BILLION we spend in defense a year.The Republicans spent us into the worst economy of most peoples lifetime and what do we have to show for it?

    July 24, 2010 01:40 pm at 1:40 pm |
  7. JES

    Obama you are out of touch. You don't have a clue what you are doing, no leadership skills, and how can you sign a reform bill when your house can't balance the budget with all the waseful spending you keep doing.

    Thanks for starting out my grandcildren in debt.

    You can't blame tis one on the GOP on this one.

    July 24, 2010 01:45 pm at 1:45 pm |
  8. Hendrik

    We will soon see how the Republicans can govern. It will be interesting to see what they will do now that they will succeed in taking over the House. They are great at getting elected but they really s*ck at governing. They may very well have the shortest reign in the House when they win in November. And win they will. Yuk.

    July 24, 2010 01:49 pm at 1:49 pm |
  9. chad

    dems try to make gov. work. when they are in power. republicants tell us gov. dont work and when they get in power they prove it.

    July 24, 2010 01:53 pm at 1:53 pm |
  10. Peter s

    The republicans has only one hymn cut taxes cut taxes again cut taxes, cut taxes

    July 24, 2010 01:54 pm at 1:54 pm |
  11. Kim mpls, mn

    Everyone looks to the President or Congress for jobs and guidance and neither can create jobs for the long term. It's up to business, businesses have found a way to do with what they have until there is an real up tick in spending. We have no new technologies to spend on and the masses don't have real money they have real debt. The cat is chasing its' tail. Giving money to the "real rich" actually takes money out of circulation, example is Bill Gates or Warren Buffet, they have billions that will never get spent. Oh sure they can buy a new car every year, big deal. Giving tax cuts to the rich is what gave us this deficit and is what is stifling the economy, they never paid their fair share

    July 24, 2010 01:56 pm at 1:56 pm |
  12. normajean

    If there is one man in Washington who is "out of touch" with everything, it is John Boehner. HE IS SO OVERWHELMED WITH HIMSELF, THAT ANYTHING HE SAYS GETS LOST JUST LOOKING AT THE SELF-SATISFIED LOOK ON HIS FACE. He is already threatening to dump the health plan if he becomes speaker. If the country is lucky, he won't get the job. In the position he now has, just what has he done to motivate the Repubs to do anything to improve our countrys problems.? NOTHING! He leads a useless group of nobodys. Heaven help us all.

    July 24, 2010 02:01 pm at 2:01 pm |
  13. One Dollar Please!!!

    Impeach this fool! July 24th, 2010 11:41 am ET
    Nobody likes a weakling.....Here's a dollar,buy you some LOVE and STFU!!!

    July 24, 2010 02:05 pm at 2:05 pm |
  14. Discernment


    (1.) – Eight years of Bush/Cheney policies, backed up by Republican controlled legislations (from 2000 to 2006) that supported the lost of millions of jobs overseas – – – is the 'primary reason' the nation's economy has severely struggled.

    (2.) – If Bush/Cheney had not dragged the nation into a war in Iraq which has cost $Trillions of dollars, all while providing $Trillion dollar tax cuts for the wealthy, than the nation would be doing just fine now!

    July 24, 2010 02:07 pm at 2:07 pm |
  15. InlandEmperor

    Amen, Mr President! Boner and his constituents only wish they had your foresight...ability...patriotism. Please keep up the good work. Those obstructing your path will find themselves unemployed and subject to the fiscal terrorism they bestowed on our great nation.

    July 24, 2010 02:09 pm at 2:09 pm |
  16. Jeff Spangler

    I was Boehner-slamming last night and experienced an unusually solid key pillar of my personal recovery plan.

    July 24, 2010 02:09 pm at 2:09 pm |
  17. Love is in the Air!!1

    @phoenix86 July 24th, 2010 11:54 am ET
    Someone needs to start questioning Obama's mental capacity. Failure to recognize reality is a mental disorder.***You should Know, Your next MHMR appointment is Monday***

    July 24, 2010 02:10 pm at 2:10 pm |
  18. Voice Crying in the Wilderness

    I wish President Obama had walked into the same situation George Bush walked into when he was President, not the train wreck he inherited. We would really be living the good life now. But opportunistic Republicans are trying to score cheap political points by attacking the mess George Bush left President Obama.
    And Boehner makes the incredible statement that President Obama should work with the Republicans to help the American people! Is this guy delusional? The President has reached out to the party of "no" innumerable times and has done more for the American people in a year and a half than George Bush did in 8. Maybe Boehner considers only the rich to be Americans.

    July 24, 2010 02:10 pm at 2:10 pm |
  19. Discernment


    (1.) – Eight years of Bush/Cheney policies, backed up by Republican controlled legislations (from 2000 to 2006) that supported the lost of millions of jobs overseas – – – is the 'primary reason' the nation's economy has severely struggled.

    (2.) – If Bush/Cheney had not dragged the nation into a war in Iraq which has cost $Trillions, all while providing $Trillion dollar tax cuts for the wealthy and adding to the nation’s deficit, than the nation would be doing just fine now!

    July 24, 2010 02:10 pm at 2:10 pm |
  20. Jesus Francisco

    BRAVO! .... to President Obama!

    July 24, 2010 02:16 pm at 2:16 pm |
  21. aaron

    Don't be silly, the republicans know we're on the right track. They know the stimulus bill saved jobs and produced jobs. They know the millions of lost jobs are not the fault of Obama. They're lying so they can get back into office and give breaks to the rich and to corporations. they want power so they can put more money into military spending. Obama needs to stop spending money on military as well. The GOP and even the DEMS have us thinking we need a huge military. We don't. In the famous words of JFK, we have nothing to fear but fear itself. It's time to start acting like a brave country. Pull out of foreign countries, all foreign countries. Bring our men and women home and put them to work rebuilding America into a green economy. If someone attacks us we attack back. Until we have an effecient government we shouldn't be telling Iraq, Afghanistan or any country how to run a democracy. Be careful of Dems and GOPers. But know that the current mess is the republicans fault, period.

    and to all those saying Obama should quit blaming Bush, do you have any idea how much Bush and Fox blamed Clinton for anything that went wrong? Learn your history.

    July 24, 2010 02:19 pm at 2:19 pm |
  22. sickofthisbs

    reggie from la @ 11:44 am.......I co-sign, I am so with you!

    July 24, 2010 02:23 pm at 2:23 pm |
  23. Voice Crying in the Wilderness

    ...... 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.

    To Izzy: Obama is not a tree, but one out of two is not bad.

    July 24, 2010 02:27 pm at 2:27 pm |
  24. 'Bama Grandma

    phoenix86 July 24th, 2010 11:54 am ET

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

    More likely the Grandiose Obstructionist Phonies are suffering from this disorder as evidenced by their refusal to extend unemployment benefits yet championing more (unfunded) tax cuts for the wealthy. Bonehead Boehner is so far removed from reality he is living as a legend in his own mind.

    July 24, 2010 02:30 pm at 2:30 pm |
  25. fastrack

    Sir John of Orange (does he spray in on or drink it?), always offering up nothingness, then slamming any response...

    July 24, 2010 02:32 pm at 2:32 pm |
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