Washington (CNN) - Financier George Soros who has famously supported liberal causes said the president has "lost control" of the economic agenda.
"President Obama has lost control of the agenda," Soros said Sunday on CNN's "Fareed Zakaria GPS." "The agenda is now in the hands of the Republican Party."
Soros, who was an early supporter of Barack Obama and helped him fundraise during his 2008 presidential bid, said the GOP will move the agenda away from economic recovery.
"They (Republicans) are going to pursue a very strong effort to cut services by refusing tax increases. I think this agenda will be successful," Soros said. "I think this will have a negative affect on the economy."
But this is not the first time Soros has voiced concern over Obama's actions. In March he told CNN the United States should have taken over U.S. banks instead of bailing them out, and in November suggested Democrats find another presidential candidate in 2012.
Soros also said members of the Tea Party movement are being "used and deceived," despite being "decent" and "hard-working" people.
"They are being misled," Soros told CNN's Fareed Zakaria. "They are misled by people who are using it for their selfish purposes… so reduce taxation and regulation."