April 3rd, 2010
09:40 AM ET
11 years ago

GOP weekly address hits Obama on economy, jobs

Washington (CNN) - One day after the Obama administration touted favorable new employment figures, Republicans hit the administration for pushing "job-killing legislation that would guarantee permanent bailouts for Wall Street."

California Rep. Kevin McCarthy, a member of the House Financial Services Committee chosen to deliver the weekly GOP address, used the platform to call Democrat's Wall Street reform bill a "job killer."

"President Obama wants Congress to pass job-killing legislation that would guarantee permanent bailouts for Wall Street," McCarthy said. "Under his plan, unelected Washington bureaucrats would be granted virtually unlimited power to pick winners and losers – and hardworking American taxpayers would pick up the tab for the reckless decisions made by irresponsible bankers."

A top Obama administration priority, financial regulation reform bills are currently working their way through both houses of Congress. The Senate version of the bill, authored by Connecticut Sen. Chris Dodd, passed a critical test vote on March 22, and has moved to the full Senate.

A CNN/Opinion Research Corporation poll released Thursday indicated that Democrats have lost their large advantage over Republicans when Americans are asked which party would do a better job with the economy.

According to the poll, 48 percent of Americans say Republicans in Congress would do a better job dealing with the economy, with 45 percent saying that congressional Democrats would better handle the issue. That's a switch from last August, when Democrats held a 52 percent to 39 percent advantage on the economy.

CNN's Paul Steinhauser and Jen Liberto contributed to this report

Filed under: GOP • GOP weekly address • Jobs • Kevin McCarthy
soundoff (35 Responses)
  1. Michelle

    What Americans are really wondering is, "Is anybody listening to the crap being thrown out there by Republicans?" According to them, everything done by Obama is a 'job-killer,' yet we are growing jobs, and that drives them crazy. Heavens, if the economy dares recover without their help, and in spite of their doomsday warnings, whatever will become of them come November? Maybe they'll crawl back in their holes for the winter and we can govern in peace.

    April 3, 2010 11:47 am at 11:47 am |
  2. Jacq

    Rethugs lying again,see they want wall street to remain unchecked,and continue the same crap that got us here in the first place

    April 3, 2010 11:49 am at 11:49 am |
  3. Jerry - Florida

    Someone has to tell the "REAL TRUTH".

    April 3, 2010 11:50 am at 11:50 am |
  4. aunt Bea and Opie

    Im almost sorry McCain and Palin werent elected so we could see 30% unemployment and all the wonderful things that come with it,and how the republicans would have handled the mess.They are like dogs in the park that you have to clean up after all the time.

    April 3, 2010 11:54 am at 11:54 am |
  5. ThinkAgain

    Republicans have absolutely NO credibility when it comes to the economy.

    They think that tax cuts for the wealthy will cure everything – all evidence to the contrary (Reagan tax cuts resulted in huge deficits; Bush tax cuts took a budget surplus and turned it into huge deficits).

    Maybe it's a simple matter of (1) not being able to do math, (2) having an incredibly naive belief in the relationship between money and human nature – and (3) hoping we're a bunch of forgetful, fearful idiots.

    1. Math: If you take in $100 (revenue in taxes) and spend $200 (military expenditures), you end up $100 in the hole (budget deficits).

    2. Naiveté: Money "trickles down" in our economy. Not when:

    – The wealthy take their tax cuts
    – Invest it in overseas factories where labor is cheap, workplace safety is minimal and environmental regulations don't exist
    – Close factories in the U.S. and lay people off

    3. We're idiots: Continuing to sell us the same old line of BS, hoping that we all have the memory of a gnat and are so filled with fear that we go running to the GOP.

    April 3, 2010 12:00 pm at 12:00 pm |
  6. Jacq

    Keep doing a great job Mr President,at least he's not in a strip club,reaching under a stall,or in South America doing GOD knows what.He's getting the country back on track,and the republicans haven't worked on nothing but talking points over the last year

    April 3, 2010 12:00 pm at 12:00 pm |
  7. Claudia, Houston, Tx

    Correction, tax payers are picking up the GOP tabs at strip clubs is what McCarthy really meant to say.

    April 3, 2010 12:01 pm at 12:01 pm |
  8. Former Republican, now an Independent

    How are you going to add new jobs when the entire republican party is locked arm-in-arm blocking every forward piece of action the government tries to take. It is the same old "Politics over People" agenda of the republican party. Anything to deceive the people and regain power over them.

    April 3, 2010 12:02 pm at 12:02 pm |
  9. mms55

    americans are going to send the gop one loud message come nov. but they won't hear it their deaf!!i just love how they keep saying that lol.america spoke in 2008,we wanted obama and we are glad the repubs are gone.we are not going to forget how they destroyed this country or our economy.they can run their gop fox network all they want ,the only ones listening to the bull are right wing nuts!!

    April 3, 2010 12:05 pm at 12:05 pm |
  10. Dennis

    Who does this guy think that he is talking to, a bunch of retarded second graders? Anybody with half a brain and an understanding of economics and finance would know that the job killers were the Wall Streeters themselves with their obscene bonuses and risky behavior. It is essential to clean up the rotten mess to avoid having to use taxpayer money to bail them out in the future. This guy is just trying to keep the gravy train going for his fatcat buddies, who pay no taxes at all. Go ahead America, keep listening to this drivel and keep getting the shaft like you are now.

    April 3, 2010 12:06 pm at 12:06 pm |
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