Obama vows action to bolster economy
June 28th, 2014
03:53 PM ET
4 months ago

Obama vows action to bolster economy

(CNN) - Echoing his 2014 “year of action” mantra, President Barack Obama delivered a clear economic message during his weekly address Saturday: I will take action to fight for the middle class into my own hands if Congress doesn’t act.


Citing his recent trip to Minneapolis, where he met with middle class families who struggled to recover from the financial crisis, Obama said he would be focusing on the economy in the upcoming week.

“I’m going to spend some time talking about these very choices in the week ahead,” the President said. “That’s because we know from our history that our economy doesn’t grow from the top-down, it grows from the middle-out.”

In referencing top-down economic growth, the President accused Republicans of being obstructionists by blocking the White House’s economic initiatives to bolster the middle class - such as raising the minimum wage and tackling student loan relief – in order to favor wealthy taxpayers.

“The point is, we could do so much more as a country – as a strong, tight-knit family – if Republicans in Congress were less interested in stacking the deck for those at the top, and more interested in growing the economy for everybody,” Obama said. “Let’s realize that we are stronger as a nation when we offer a fair shot to every American.”

The President argued that now is the time to take executive action to ensure that Republicans in Congress do not continue to “rig” the system against the middle class in the future.

“I’ll do my job,” Obama said. “And if it makes Republicans in Congress mad that I’m trying to help people out, they can join me, and we’ll do it together.”


Filed under: Economy • President Obama
soundoff (65 Responses)
  1. BTLProd

    The President has had 5 and a half years to get out of the way and let the Economy grow. We have been in "Recovery" for 5 years. We have experienced an average of 1% per year real economic growth under Obama. We have experienced 2 quarters of negative economic Growth in the past 5 quarters.

    What is it he plans to do now that he couldn't do for the past 5.5 years?

    June 29, 2014 10:23 am at 10:23 am |
  2. My Name

    Does this mean he is about to start up the laser he was going to be focusing on the economy with? I believe the one he was using before was just an LED flashlight he imported from China.

    June 29, 2014 10:25 am at 10:25 am |
  3. Alan

    Mr. President why didn't you take action on the economy when you controlled the House, Senate & White House for 2 long years? No Republicans were in your way then. You sound like a loser lately, always making excuses and blaming others for your short comings.

    June 29, 2014 10:52 am at 10:52 am |
  4. PharmGrl

    Obama can't have his anti business wealth redistribution policies and expect a robust economy.

    June 29, 2014 11:08 am at 11:08 am |
  5. neutral observer

    Anonymous and others: "The GOP's only agenda ...." blah blah blah. The GOP this, the GOP that. What about everyone else that is not repub or democrat?? Maybe if instead of constantly demonize GOP and carry Democrat water, maybe if you just did what makes sense without care for the party denomination, the country would come together as a whole to solve many of todays pressing problems. But you gotta give up this total knee jerk application of your hate or love upon individuals depending on weather they are "democrat" or "republican".

    June 29, 2014 11:23 am at 11:23 am |
  6. vikingwoman

    The Elephant's are freaking out cuz the elephant in the room is a Black man in the White House! That's why we have the GOTP now! That's why nothing gets done! The White establishment has been shook to its core & nothing will be the same again! We're witnessing the growing pains of our government & nation! Some are desperately trying to hold on to the past, the status quo, 'conservative' views, while others are trying to go with the flow, learn something, broaden horizons! It's an internal & social battle & nowhere is it more evident than in the behavior of our elected officials! I'm an optimist & hope it turns out well for us!!

    June 29, 2014 12:03 pm at 12:03 pm |
  7. Lizzie

    Iamnotfooled
    This President could have this economy booming if it were not for the DO NOTHING-Worst in History Congress. His approval rating is low @42% but theirs is @7%. He can't do it by himself. Wonder why the Republicans and TEA can't see this. They must be blind.
    -- nice, let's all get behind Pres.Obamas and the democrats ideas, no one has to work, everything is free and the rich will pay for it.

    June 29, 2014 12:22 pm at 12:22 pm |
  8. Fair is Fair

    Iamnotfooled

    This President could have this economy booming if it were not for the DO NOTHING-Worst in History Congress. His approval rating is low @42% but theirs is @7%. He can't do it by himself. Wonder why the Republicans and TEA can't see this. They must be blind.
    ----------–
    Ahhhhh, yes. The typical low-info "gimme a handout" dem response.

    Here's the deal, champ. When an INDIVIDUAL is asked about congress, they're looking at it as a WHOLE. So share with the audience WHY 90-95% of congress is re-elected? No answer? Figures.

    On the other hand, when someone asks about the POTUS, they're looking at a single person and inevitably opine by their party affiliation. With Obama getting elected with 52% and having a 42% approval, it goes to show that 10% of those that voted for him thinks he's lousy.

    And I TOTALLY agree.

    June 29, 2014 12:50 pm at 12:50 pm |
  9. J Anthony

    Neither party has the will or imagination to do what needs to be done. They're too afraid of the bankers and billionaires who really run this country. It doesn't help that so few citiizens are well-informed about how things actually work, or actively engaged in civic duties. Democracratic republics can't work with over half the population tuned out, which is why we're a plutocracy more than anything else.

    June 29, 2014 12:51 pm at 12:51 pm |
  10. barryinlasvegas

    Please. How many times can this do nothing idiot "pivot" to jobs, jobs, jobs? The truth is, he is the most unqualified person to ever hold the job of president and the American people are paying a high price in un/underemployment, stagnate wages. We have 50 million people on welfare and food stamps and we are going on the 6th year of this fool being in charge of the economy. 2016 can't get here fast enough.

    June 29, 2014 01:42 pm at 1:42 pm |
  11. Tommy G

    I don't know what the big surprise is here. We have EXACTLY the economy and job situation that a far left agenda of high taxes, massive regulation, war on parts of our economy, demonization of businesses, massive government control, and strict adherance to leftist ideology no matter what the real cost is, give us.

    Elections have consequences. Keep electing extremist Democrats like Obama, Reid, Pelosi and their far left Progressive/Socialist/Communist comrades and you can expect far more of this nightmare. Soon everybody will be fighting for the very few minimum wage jobs with no benefits instead of getting 6 figure jobs with good benefits. If these people thought they could get away with raising the highest tax rate to 100% they would do it in a second.

    Time is quickly running for America to come to the realization that the Democrat Party has been taken over by people closer to Fidel Castro in their thinking than to JFK.

    June 29, 2014 02:04 pm at 2:04 pm |
  12. Name MARKETMOSES

    Let me tell u conservatives something....Socialism for America will come from ur camp alone if youl refuse to help do something for our economy...Its called THE GLOBAL MIRROR. THE GLOBAL MIRROR SIMPLY SAYS : If you have no greater market model than your global competitors, then the only way can compete is to copy them. And that is what we have been doing playing follow-the-leader behind China and others. IT's time we breakout of the doldrums of this economy and set forth a HEMISPHERICAL NEWDEAL here in the Americas by becoming the first to create a WHITE MARKET in our own backyard...And then we can export our viabrancy down to them... no one should have to jump a fence to get a benifit once we get this going. I am suggesting a hemispherical trade continuem here in the Americas that we sponsor. How could we do it? by parloring
    Goods including energy by need to our trading partners from Chile up to Canada in an exclusive freemarket system known as a WHITE MARKET . Once we have this in place the only way the rest of the world could compete with us would be to copy us. AMERICA can fullfill her duty as a innovator and aleader by exporting the notion that we can make freemarkets work for everyone. OTHERWISE we will surely follow the global mirror into socailism for the many and opportunity for the few.

    June 29, 2014 05:14 pm at 5:14 pm |
  13. Name MARKETMOSES

    LET ME TELL YOU SOMETHING TOMMY G.: If your deity and president George W. BUSH COULD OF HELD OUT long enough NOT to make his infamous speech, "I'M SORRY GUYS BUT THE ECONOMY IS ABOUT TO TANK" back in '08, We would not be here right now. I AM SURE that the then Bush administration already thought out how they could strip-mine the economy and hand overthe barebones of this economy to a Democratic President. IT IS A GREAT TACTIC;IT's called the scoushed

    June 29, 2014 06:15 pm at 6:15 pm |
  14. Bigwilliestyles

    The repubs try to sound so confident that their racism has broad support; reminds me of 2012. Thats ok though, president Romney's in office now; he'll turn things around to their liking.Oh wait...

    June 29, 2014 07:24 pm at 7:24 pm |
  15. Dave

    1. The Minimum wage increase Um why are Democrats really for it? Why are McDonalds and IKEA among other LARGE corporations for it? Because they have the resources to absorb the rise in costs plus it will lower competition giving them more market share.
    The small furniture and hamburger place will not be able to compete. Plus the recent rises in Minimum Wage in MASS and Seattle don't occur until 2017 so inflation will eat up all that rise easily.Why 2017? Because Democrats want deception to convince voters.
    2. School Loans are indebting students because the US Government now GUARANTEES the loans keeping a lid on costs OFF and while the Colleges and Politicians/Lobbyists get their money UP FRONT the student has to pray for a job in the field they studied(HALF of all current graduates can't find jobs in the field they went to school for in the first place) or take a part time job/low paying full time job that can't pay off the school loan after rent/gas/food or go to work for the government which will allow them only to pay off a small portion of the loan and the tax payers EAT THE LOSS AFTER ONLY 10 Years of payments(only 120 payments) at only 10% of a students paycheck each month. Thats called debt financing and only leads to a weakening US Dollar and more debt upon debt. Its also called economic fascism or at the very least extreme socialism . Funny how to think freedom is actually what castro always believed in what democrats want. I do not support the Republican Party as they make all their money from the US Military which is a socialist military.
    Reply

    June 29, 2014 09:34 pm at 9:34 pm |
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