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. Rich

    If I were Mr Pence, I would brag to loudly about the republican's financial policies. What a joke!

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

    I see most on here still doing the blame game. Wake up to reality and realize who makes the laws of this country and runs it.
    Congress passes the laws, and who has had control since 2006 the democrats! Unemployment was under 5% before 2006 and the stocks were good. After there so called change unemployment has rose 5% in 4 years. Obama and congress has trippled our debt in under 2 years. Democrats continue to pass meaningless laws on finance yet do nothing to control fannie and freddie which was the main cause of all of this with sub prime loans, and who is in charge of them, Barnny Frank and Chris Dodd both democrats. You keep blaming Republicans for obstructing but yet who has a majority in congress for the last 2 years? Democrats again. They could have passed anything they wanted, so stop the blame game, its your own party screwing things up, they are just trying to pass the buck to the minority party. Just like passing unemployment extension, the republicans were voting no because we had the money to pay for it in unused stimulous. Dem's and Obama did not want to use that money because then they would have to admit the stimulous has failed, and it has. think about it, if the stimulous was working why would we still have 10% unemployment. Keep trying to blame others rather than face the reality of the fact that Dems in the last 4 years have done more harm than the republicans did in the 4 years they had a majority under Bush. Thats right you cant even use 8 years because democrat took control in 2006 so save your talking points.

    July 24, 2010 02:58 pm at 2:58 pm |
  3. Charlie in Maine

    What? What planet does this guy live on? Maybe it is taking a little longer to recover from the Bush Error but that doesn't mean Obama has been a failure, Much to the contrary it shows that with just a few more Democratic Senators (real ones not blue dog whatever that means) we would really have made much more progress but even as it is it's so much better than when idiots like Pence were in charge!!!!

    July 24, 2010 02:58 pm at 2:58 pm |
  4. Mom in MA

    Yes,... how dare the president not fix everything in a year! Where is his magic wand.. we want policies that will fix everything immediately! Of course he has to fight for every damn thing he even tries to suggest to help the economy. Can't say no to everything and then complain that nothing is working fast enough. Frankly my family is much better off today than we were a little over a year ago. I know friends who lost jobs who are now again employed. It's just so annoying when Republicans develop political amnesia and forget how, why and who got us in the predicament we are in right now.

    July 24, 2010 02:59 pm at 2:59 pm |
  5. one voice

    Anybody from the 98% of the population that directly benefit from the policies of the Obama Administration, why would you believe this crap from the CLOWNS that brought our country to her knees? You are being DUPED with the KOOL-AID. IDIOTS

    July 24, 2010 03:01 pm at 3:01 pm |
  6. Pence is right

    After seeing all the comments already, I just have to ask... are you kidding me!?!?!? You can only blame the Bush years for so long (last part of that democrat controlled I might add).

    This recession is a result of the housing bubble, caused by CONGRESS and their idea that everyone should be able to get a home, even if they cannot afford it. Hence the bubble bursting.

    In order to fix this, President Obama and the Democrats in Congress attempted to spend our way out of it, piling loads of money on many pet projects and wasteful initiatives. The Am. Recovery and Reinvestment Act did next to nothing in terms of recovery, just sunk us further into debt. On top of that, Congress passed healthcare reform. A noble goal, but an infringement on individual rights, crippling to small business and an unprecedented, unconstitutional MANDATE that Americans purchase a service or be taxed for noncompliance. Thank god Cap and Trade was taken off the table, as that would have put even more pressure on a struggling economy.

    Now, as we round out the year, Taxes are going to increase on EVERYONE. during a RECESSION!! How does increasing taxes during a recession help the economy? If anyone can answer that I'll be amazed.

    The only jobs created have been Government jobs, Jobs in the public sector, meaning more and more people are relying on the government for their income.

    Absolutely nothing is gained by blaming "traitors on the Right", nothing is gained by just saying "Republicans are nut cases". You need to get over your hatred of those who disagree with you and realize that it was ALL politicians who got us into this mess. Ignorantly repeating President Obama's "We inherited all that is bad in the world from Repubs" just makes you look ignorant. Republicans waste a lot, but Democrats waste a lot more. Neither party has taken a responsible and ethical approach in the last 10 years. We can get out of this mess by keeping taxes where they aren't a burden, allowing INDIVIDUALS to choose what's best for themselves, encouraging small business rather than stifling it, actually paying attention to the Tenth amendment, and not spending what we don't have.

    July 24, 2010 03:03 pm at 3:03 pm |
  7. Ted van Tol

    Let's bring W back! He would fix the economy in one year.
    He know excactly how, because he distroyed it first.
    Then he would start a war against Iran and make a big step backwards on the gobal warming and the economy.
    And at the end of his first term he would start a cold war again.
    Then America is where it must be. Losing wars, behind on the
    economy and suffering obesitas and live in fear for attacks.

    Yes, America would be much safer than under Barack Obama's presidency.

    July 24, 2010 03:03 pm at 3:03 pm |
  8. Pounder

    I just can't understand the logic that the Repubs still rely on. Do they think that the American people forgot that the economy was fine until the Bush tax cuts became law . That and the added burden of starting an unnecessary and costly war in Iraq.

    July 24, 2010 03:04 pm at 3:04 pm |
  9. one voice

    Did Pence get his million dollar envelope to spread this crap?

    July 24, 2010 03:05 pm at 3:05 pm |
  10. Independent

    Boy are you wrong Pence....if it wasn't for President Obama this Country would of been in a whole of hurt...

    Thank Heavens McCain didn't win, we would of been in sadder shape than we are....

    If you Republicans get off your high horse and stop acting so holier than though, maybe this Country would be in a whole lot of better shape...

    Around my area, they are calling people back to work, our houses are selling, new ones are being built....

    July 24, 2010 03:10 pm at 3:10 pm |
  11. Mike from MN

    Let's see:

    4 years ago, the bubble began to burst.
    2 years ago, the bubble exploded and left a huge crater.
    2 years later, the GDP has double from it's negative and no longer are you having jobs lost.

    It's going to take atleast 2 more years to get back to pre-2006 levels and 6 years to get to Bill Clinton era levels.

    Had Bush Jr done what Bush Sr wanted to do and what Bill Clinton did do, we could have avoided all this economic turmoil. Instead, Bush Jr's bright idea was to de-regulate more, attack two countries, and added a prescription drug bill to win votes.

    Now, the GOP wants to say NO to everything so that they can lay all blame on the Dems – instead of trying to be constructive and work with the Dems to solve the country's problem.

    Because the GOP's only method of winning is hoping the other team screws up all on their own.

    July 24, 2010 03:10 pm at 3:10 pm |
  12. Ted

    If Pence and the rest of the idiot Republicans had their way we would have a much worse economy. They want to make things worse so they can get back in power. And shame on the voters if they reward them.

    July 24, 2010 03:14 pm at 3:14 pm |
  13. You gotta be kidding

    The Clinton signing of the revised "Community Reinvestment Act" in the 90's was the start of the worst economy in decades. Janet Reno threatened to sue if banks refused to give mortgages to those who couldn't afford it. Barney Frank and Christopher Dodd are in the deep pockets of Fannie and Freddie. Thank them, not the Republicans.

    Beyond the early 2001 warning to Congress that the housing market was potentially in a bubble, the Bush administration certainly didn't help. But no one was complaining in '97 when the stock market was breaking records, topping 14,000 on the DJIA.

    You Republican bashers make me laugh. With the deficit the highest it's ever been, we're in for a rough decade.

    July 24, 2010 03:14 pm at 3:14 pm |
  14. Jill-IN

    The economy is improving even here in northern Indiana; we see it every day. We will continue to support President Obama and never thought for a moment that things could turn around quickly or there wouldn't be struggles. We have been around long enough to know better and aren't spoiled either. Republicans like Pence have driven us to the brink and now are trying to make the case that they deserve to lead again. It sickens me really. We use to vote mostly Republican until the late 90's and would never vote Republican again. Both in our 60's and plenty of experience with their lies. Pence is not anyone we would support or listen to.

    July 24, 2010 03:18 pm at 3:18 pm |
  15. David

    Policies in hard time have to be creative and have to be tested ones. Reagan had bad times and his policies somehow worked (who cares about ideologies). Now untested and old ideological methods are being tried (based on theoretical books of leftists– have you heard of a leftist country that employed leftist policies and was successful? I did not! China has turned to capitalism from leftist policies in order to be successful). Big entitlements and big regulations will not create jobs!

    July 24, 2010 03:21 pm at 3:21 pm |
  16. John, NC

    Obama is a seat -of-the pants president.

    July 24, 2010 03:23 pm at 3:23 pm |
  17. Paul

    The Republicans should first acknowledge that their policies ruined the economy before President Obama took office, than we can start a real conversation on how to fix it.

    July 24, 2010 03:27 pm at 3:27 pm |
  18. George Guadiane - Austerlitz, NY

    Have you no shame sir?

    July 24, 2010 03:29 pm at 3:29 pm |
  19. works for me

    Oh... he's failed? I do believe we are moving in the right ... I mean correct direction. I also don't believe I ever heard any idea or plan from him, him, him, or them! Nothing but an all out effort to make him fail.
    If he fails... we all fail!

    July 24, 2010 03:30 pm at 3:30 pm |
  20. Linda

    No Pence, the economic policy (if there was one) failed under George W Bush – you absent-minded idiot!

    You and your GOP obstructionists are the reason for our economic
    woes. Do you research, and stop flapping your lips.

    July 24, 2010 03:35 pm at 3:35 pm |
  21. Lynn

    Waht chutzpah to say Obama's policies have failed. They must be looking in a rear-view mirror and seeing the reflection of the Bush years.

    July 24, 2010 03:35 pm at 3:35 pm |
  22. That's because......

    he doesn't care about jobs.....all he cares about is doling out our money to non-deserving people.

    July 24, 2010 03:39 pm at 3:39 pm |
  23. Flagship, NC

    So let me get this straight....It was the Republicans that screwed the country, due to huge tax breaks while starting 2 unfunded wars, unregulated spending and now fighting any system that is trying to correct the unbalances in the financial systems. They just complain and are on the backroom payrolls of the big corporations and financial banking systems.
    WHY....WHY....WHY....would we allow them to get back into power.
    To provide what? To do what? These are the same people who gave us their best (George Bush) and defended his policies for 8 years!
    There has been no change in their "conservative" policies or their operating system. Meaning that they will just repeat what they did before.
    They can spin it all they want using their creative talk and speeches, but nothing will change from their past, because they are the "conservative" party. LISTEN....TIMES HAVE CHANGED AND SOCIETY HAS CHANGED. There is no more living in the past.

    July 24, 2010 03:41 pm at 3:41 pm |
  24. David

    What I don't understand, is why do the republicans think they can fix things, if THEY are the ones who made the problem in the first place? They are the ones who cut taxes for the rich, who deregulated wall street, who helped big business, big pharm, and big banks, and yet, everything came crashing down. We don't have enough money to pay our debts (republicans started the debt by bailing out there buddies, who just so happen to be the ones who got the tax cuts in the first place so they don't have to pay off that bill they made), wall street nearly collapsed AGAIN, and banks everywhere are going under.

    And yet, they think that more of the same old crap they have been slinging around for the past 20 years will some how solve the problems that they created in the first place!

    I don't know who is more stupid, the Republican Politicians who claim that crap, or the people who vote for them!

    July 24, 2010 03:42 pm at 3:42 pm |
  25. usualone

    Of course the Republicans are going to say this - it is politics. If they say it enough people may sadly believe them. The President has set up a foundation for growth. The Repubs would not extend unemployment benefits for those who need it now. It is about jobs they say, but they never suggest specific jobs. We will be paying for these ongoing wars forever. How dare any Republicans decide to work with this administration. They are not about the American people. Even some rich folk want to help out their fellow citizens and are willing to do more for people. But not the politicians.

    July 24, 2010 03:42 pm at 3:42 pm |
1 2 3 4 5 6 7