Washington (CNN) - Herman Cain, the first Republican to open a presidential exploratory committee, addressed the Conservative Political Action Conference Monday in a speech laden with criticisms of the Obama administration's fiscal policies.
"Stupid people are ruining America," Cain said to applause and laughter. "We have to become teachers and educators of the stupid."
"The American dream is under attack, but the good news is we are fighting back. We are fighting back with our voices and our votes," added Cain.
Some of Cain's biggest applause came when he took aim at the health care law:
"Now that the cat is out of the bag, we know that health care reform legislation was an absolute disaster," he said. "That's why the House is trying to repeal and replace and we are going the help them do that."
Cain's comments capped off a day of speeches from several likely presidential candidates at the annual gathering that more than 11,000 conservatives are attending this year.