July 24th, 2010
11:49 AM ET
8 years ago

Pence: Obama’s economic policies ‘have failed’

Washington (CNN) – Republican Rep. Mike Pence criticized the Obama administration and Democrats in Washington on Saturday, delivering a biting attack on the economic and fiscal policies promoted by a legislature and White House controlled by Democrats.

"The economic policies of this administration have failed,” Pence said in Saturday’s weekly Republican address.

"In the worst economy in a quarter of a century, American families are hurting. That's obvious to just about everybody, except that is the Democrats in Washington, D.C.,” the Indiana Republican said.

"You know, it's more clear every day, they just don't get it. Washington politicians just aren't listening and the American people know it.”

But on the same day President Obama capped his week by touting the Wall Street reform bill that became law Wednesday, Pence was instead looking to the future, and warning of tax increases.

"And if they haven't already done enough to wreck our recovery, Democrats in Washington are pushing more spending, more regulation, and right around the corner: more taxes,” Pence said.

"Washington D.C. doesn't tax too little. Washington D.C. spends too much. I don't know anybody back in Indiana who thinks they pay too little in taxes. And only in Washington D.C. would anyone believe that raising taxes creates jobs.”

The tax increase Pence warns of will come if the 2001 and 2003 Bush tax cuts are allowed to expire at the end of the year. President Obama had promised to make them permanent for families making less than $250,000.

But faced with growing fiscal challenges, there's debate in Washington about whether the country can afford to permanently extend the tax cuts.

Filed under: issues • Mike Pence • President Obama • RNC
soundoff (159 Responses)
  1. Another Reformed Republican

    Pence admitted that he and the republicans had failed the American people in 2006. Pence and his republican cohorts have continued to fail the American people and now they are trying to shift the blame away from themselves.

    When is a story about Pence and zipper problems going to surface?

    July 24, 2010 02:14 pm at 2:14 pm |
  2. Ron in Asheville, NC

    THAT'S FUNNY! The administration policies haven't had time to be tested yet. Hell, most of them are barely in place. What has clearly failed is the prior administration's economic policies.

    July 24, 2010 02:19 pm at 2:19 pm |
  3. Larry

    Republicans on REPEAT ...

    Same words, different mouth


    The American people are sick of you guys blocking the positive progress going on in this country

    WE voted this administration in, because WE want things to be different from when YOU who also WORK FOR, WE, were in office

    I wish WE, had a FLUSH HANDLE to pull, when YOU, just sit around complaining about what WE want done in this country, instead of actually helping WE to pull this great country in a positive direction

    GET TO WORK AND DO YOUR JOBS ... or get out

    July 24, 2010 02:25 pm at 2:25 pm |
  4. Darth Vadik, CA

    No, Obama economic policies, although far from perfect, actually have stemmed the bleeding of the economy, and though it may not be getting much better very fast, it is on an slow upswing (but we'll talk again in a year and a half 😉 )...

    ...all this after the disaster that the Bush left this country in, so I'd say that Black Cat (Obama's actual nickname when he's aboard the Air Force One) has done a decent job...

    July 24, 2010 02:26 pm at 2:26 pm |
  5. chill

    What tripe. If the government spends $787B the money HAS to go somewhere and more than half of it has gone to all of us through tax cuts or unemployment payments. Another chunk went to states not to create new jobs for the most part, but to keep current employees from losing their jobs and adding to the unemployed. And money spent for the myriad of infrastructure projects from energy research to roads and bridges is being paid to someone as wages ultimately. If the policy failed, it failed in not being large enough to replace reduced consumer and business spending sufficient to increase employment. If you think it couldn't be a whole lot worse you have little imagination. And if anyone thinks we can turn around and reduce the deficits in any meaningful way without raising taxes, then you have way too much imagination. Time to grow up and pay the piper.

    July 24, 2010 02:26 pm at 2:26 pm |
  6. Dean

    Dont forget to thank a Globalist if you dont have a job. July 24th, 2010 11:52 am ET

    The President is doing a fine job considering he doesnt get any support from the traitors on the Right.

    If it weren't for the traitors on the Right Obama would have totally destroyed the US by now.

    July 24, 2010 02:27 pm at 2:27 pm |
  7. rdepontb

    Pence the Fence Sitter. Are you in or are you out? Do the Republicans want you or not? Tea Partier or not? American or not? Traitor to your nation or not?

    If you guys can't even come up with what to cut, never mind how to increase revenue, get the heck off the stage and let someone one articulate represent the country this time.

    July 24, 2010 02:28 pm at 2:28 pm |
  8. Ready for 2012

    I agree Obama's exonomic policies have failed. This is evidenced by still having a double-digit unemployment rate. Where are the jobs Obama was supposed to create? Lobbying for six more months of unemployment benefits doesn't help the unemployed in the long term. We need jobs that pay a living wage. Where are the jobs???

    July 24, 2010 02:28 pm at 2:28 pm |
  9. oy vey az

    I guess if you are insulated in the Congress, and have buckets of bucks you can bad mouth the recovery or anything else you're told to trash.

    Speaking from just a little gal's perspective ... Obama's economic fixes have helped me beyond measure.

    Thank you Mr. President for all your untiring effort.

    July 24, 2010 02:31 pm at 2:31 pm |
  10. JR

    "Pence was instead looking to the future, and warning of tax increases and threats that haven't and may never happen", in other words, his fantasies.

    July 24, 2010 02:31 pm at 2:31 pm |
  11. Dean

    To Texan – look up the repeal of the Glass-Steagall act by Clinton and do some research on the dem program that let everyone buy a house whether they could afford it or not.
    Also Clinton was the one who gave the oil companies added incentives to drill in deep water by cutting their royalties by about 17%. Also Clinton's corporate tax policies was the caquse of outrageous executive stock options and caused them to increase profits at any cost.
    Quit spouting partisan rhetoric and get some facts.

    July 24, 2010 02:31 pm at 2:31 pm |
  12. wanda landreth

    The Republican party of no still have no plans for the future just the same old Bush policy. If they get back in power look out for the middle class in this country!!!!!

    July 24, 2010 02:32 pm at 2:32 pm |
  13. Squigman

    Empty suit, white hair, and a tan. Nothing to add to anything that's of a positive nature, but never at a loss for scare tactics, and lies. Go back to Indiana, and stay there. No one needs your input anymore.

    July 24, 2010 02:36 pm at 2:36 pm |
  14. proud dem in nc

    Bush dumps a horrible economy in Obama's lap and then the Repiglicans criticize him for not fixing it right away!!! The party of no solutions? Who needs them

    July 24, 2010 02:38 pm at 2:38 pm |
  15. TS

    I'm not a democrat in Washington, Mr. Pence, and it's not obvious to me.

    July 24, 2010 02:39 pm at 2:39 pm |
  16. common sense

    The right just don't get it.This problem started with us funding two fail wars.With so many of american rallying behind the last potus and all of the deceit that lead us to this war.Those two war drained us of the capital that cause this melt down in our economy.The 8 yrs that brought us to this point with republican help,that put this country in such bad shape now they are trying to have you to believe that Obama policies is causing this country to tumble.Truth,"how can the potus,whom only been in office a little under two yrs bring us out of a situation that took 8 yrs to put us in.Going from a plus under Clinton to a negative under Bush.It will take a little patients from all of us american,and to rally behind our president and help him briong frouth the change that is needed to get beyone all of this.

    July 24, 2010 02:45 pm at 2:45 pm |
  17. Anonymous

    If the republicans would focus more on the econom instead of trying to make President Obama fail we might get some where.

    July 24, 2010 02:46 pm at 2:46 pm |
  18. Jeff Brown in Jersey

    Sorry Pence, THE GOP IS WHAT FAILED!!!!!

    July 24, 2010 02:46 pm at 2:46 pm |
  19. BReal123

    I am wondering how all this negative talk affects the economy. The economy is about consumer confidence and when the Right is doing nothing but preach doom and gloom I have no doubt that a percentage of Americans are holding back their spending. This in turn hurts the economy (or at least doesn't help fix it). I have no doubt the Republicans only interest is to regain the power they lost at any cost. I now know that they do not care about Americans, just their party. Instead of criticizing, how about helping. The GOP have contributed nothing to solving the economic issues of America, and all this talk is no doubt hurting us as well. They will never receive a vote from me for any cantidate. Democrats aren't perfect (and sometimes suck) but at least they have proven they care about this country.

    July 24, 2010 02:47 pm at 2:47 pm |
  20. Cloosdoosch

    Pence-here's what GOP policies have done for us

    The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace. ...

    • 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
    • 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
    • 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
    • 36 percent of Americans say that they don't contribute anything to retirement savings.
    • A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
    • 24 percent of American workers say that they have postponed their planned retirement age in the past year.
    • Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
    • Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
    • For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
    • In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
    • As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
    • The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
    • Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
    • In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
    • The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
    • In America today, the average time needed to find a job has risen to a record 35.2 weeks.
    • More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
    • For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
    • This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
    • Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
    • Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
    • The top 10 percent of Americans now earn around 50 percent of our national income.

    But the conservatives in America cry "socialism", unemployed Americans and those on food stamps are "feeeloaders", and it's all Obama's fault.

    That trickly-downy thing is working just fine, thank you very much. Just turns out that it isn't money that's "trickling down"-maybe that's why they call them peons.

    July 24, 2010 02:51 pm at 2:51 pm |
  21. ER

    You libs live in a fantasy land created by Alinsky politicians and liberal media propaganda. But that's OK, go ahead and keep your blind devotion to your beloved, so-called leaders. They will fail you just like they have failed all those who came before you. And when they are removed from office, then you can all sit around wonder what just happened. How are you going to feel when all the POWER that DEMS have garnished for themselves and created in this overreaching government, is turned over to a Republican majority? You just wait and see!!

    July 24, 2010 02:53 pm at 2:53 pm |
  22. Sandy

    The president was handed a what could have been a depression. So far he has managed to keep us floating. It is improving. Last night i waited over an hour at an expensive restaurant to eat. Unemployment is always the last to lowerw with resessions. He is doing the best he can, no thanks to all republicans who keep trying to block every billetc.
    Bush got us into this!!!

    July 24, 2010 02:53 pm at 2:53 pm |
  23. Moke

    And what have you done? Absolutely nothing, other than blocked the president's efforts in each and everyway. You only care about your agenda, not the America agenda. You are a disgrace to the country and the sad thing is that you call yourself a patriot...more like a traitor- idiot

    July 24, 2010 02:55 pm at 2:55 pm |
  24. Steve

    Gee, Mr. Pence...
    I know that things are moving a little fast for you and that you're not used to a congress that actually DOES something (and, obviously, are AFRAID of any kind of change) but isn't a little EARLY to predict failure? If your crystal ball was so great, than YOU would have predicted the goings on in Iraq, the economic decline that started under George Bush, and the Gulf oil spill, and fixed them all for us. You would have saved lives, 401ks, and been a big hero. So apparently you either want bad things to happen or you're not as clairvoyant as you pretend. I betting on the latter. In fact, why don't you move just a little bit south and succede. We wouldn't miss you a bit.

    July 24, 2010 02:56 pm at 2:56 pm |
  25. marlene

    Typical GObP dogma. How can the Party of NO talk about the state of the economy and the "Bush Tax Cuts" for the wealthy. If Congress follows the GObP model for economic success we will have another depression. The GObP stands for big business, big banks, big insurance companies, big Chamger of Commerce and big campaign donations by BIG OIL. Come on America look for someone who stands up for middle america.

    July 24, 2010 02:56 pm at 2:56 pm |
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