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. Pragmatic

    The republicans, like McCain, are promising not to cooperate on anything. .. this helps America? The republicans will take everything and turn it into a negative ... with no specific plans ... "just repeat after me ... lower taxes – smaller government" Why bother listening to the party who didn't accomplish anything when they were in charge!

    If the GOP had a true vision, they would not have to waste campaign donations on sex-clubs as a recruiting tool!

    April 3, 2010 09:49 am at 9:49 am |
  2. NVa Native

    Fake patriotism, fake integrity, fake outrage, fake concern for the middle class, fake support of the Constitution, fake news, .... and on ..... and on.
    The party of "no" is a fake and that's anti-American.

    April 3, 2010 09:54 am at 9:54 am |
  3. Annie, Atlanta

    Hitting Obama on economy, jobs? Seriously? We may have short memories, but does the GOP think we're idiots, too? I remember very clearly President Obama taking office as the world economy was sliding off a cliff, thanks to decades of regulation by the GOP, who only give the time of day to the rich by enriching them, running a government that they claim to hate. So much for short memory here.

    April 3, 2010 10:01 am at 10:01 am |
  4. John

    As though the GOP cares about anybody besides their corporate interests on Wall Street anyway.

    Keep leaning on nonsense. You'll be retired as a legitimate political party within the next 2 years, like the Whigs.

    No solutions, no ideas, no diversity, no tolerance, no hope. Hopefully, no future.

    April 3, 2010 10:16 am at 10:16 am |
  5. Charlie in Maine

    By ANY measure, my president is better than yours. If you judge Obama by what he said he would do he has delivered. Your president put us in a hole. My president promised to stop digging the hole we were in. We did and now he is looking for a ladder to help us out.
    I would say that base don what he said he would do Obama is either at a B+(if you count for effoert) or a B – (based only on results).

    If you are grading on a curve however. In comparison to the previous occupent of the White House. Obama scores an A+++++++++.
    The GOP is in an uncomfortable situation of their own making. They have been a wall of NO for so long that as the economy recovers the will deserve no credit for that. So it is either hope for another collapse or join the President on a few things to try to get some credit for the recovery. Personally (even though it would be good for them politically) I would rather see them finally compromise because are problems are too great to have just one set of ideas. Unfortunatly for them and the country they have decided about a year ago to stop the President even if it is bad for the country. I guess they are kind of "all in" at this point.

    April 3, 2010 10:21 am at 10:21 am |
  6. AndyBlue

    Is the GOP whining about something again?

    Just smile and nod. They have been reduced to nothing but children still having a tantrum for more than a year.

    Nothing new here.

    CNN: Most trusted instigators.

    April 3, 2010 10:23 am at 10:23 am |
  7. Sue

    NOTHING in this report is impressive/important-–and the Democrats will again look like fools if they try to promote this as some kind of success.

    Since the stimulus was passed over one year ago-–3 million jobs were lost.

    Wait, wasn't the unemployment rate supposed to stay at 8% if the stimulus was passed---but since its passage, it has been 9.7% – 10%.

    Out of the 162,000 jobs that were created in March--48,000 of those jobs are "temporary" census jobs-–which will end in 4 months or less. The unemployment rate has not changed--it is still 9.7%--which means that just as many jobs were LOST during the month of March.

    Many economists have said.........In order for unemployment to get back down to 8%--250,000 jobs PER MONTH-–will need to be created over the next 5 years.

    Time for MANY Democrats to be sent to the unemployment lines in November--so that the grownups can then take over.

    April 3, 2010 10:29 am at 10:29 am |
  8. cfoster

    The Ecoomy is finally creating jobs again and this is a good sign. The mess we were i it was going to take a while. I don't think there is a magic solution. The GOP always cries their oly solution is to give the rich ad super rich tax breaks, raise taxes on the middle class and free trade agreements that destroy the middle class. If the Republicans had there was were would all be making $2 an hours, die quickly health care ad force religious oppression. Maybe the GOP could set up a religous dictatorship like Iran in America. Maybe Sarah Palin sice she is so self righteous could be the religious leader of America.

    April 3, 2010 10:32 am at 10:32 am |
  9. stop the nonsense

    Interesting article- never does the reporter tell you exactly what the billis about. He allows for the spn of the speaker, much the way the healthcare bill was reported.
    Regardless of that- on the surface this is a hypocritcal complaint at best. According to Mr McCarthy it is irresponsible for an unelected ( translation industry leader, not the government) to be running this plan.
    Now how can it be, when Democrats propose healthcare( that is still privately run by the way)its government take over, but when they propose banker over see banks its bad?
    Which is it Congressman- do you WANT government control or you DONT? Let me answer for you- you and your party will oppose ANYTHING from a Democrat.

    April 3, 2010 10:33 am at 10:33 am |
  10. vegage

    Here we see the same thing over and over again with republicans siding with big corporation, wall street, hedge fund managers, with the status quo that almost drove is to the cliff. The are just so at the wrong side of history.

    April 3, 2010 10:38 am at 10:38 am |
  11. Jeff Brown in Jersey

    Hey, that's exactly what we were saying when the W. Bush disaster ran roughshod all over our constitution!!!!!

    April 3, 2010 10:46 am at 10:46 am |
  12. Kent in CA

    Perhaps some of those banking industry jobs deserve to be killed, especially the ones that come with obscene bonuses that one gets for killing his own company!
    As for this absurd statement about permanent bailouts, we wouldn't need them at all if we had a short term capital gains tax that would penalize the insane speculative risk taking that ALWAYS kills jobs in the long run.

    April 3, 2010 10:49 am at 10:49 am |
  13. Captain Crunch

    Has anyone ever heard of this guy? Who is he? Who cares what his opinion is? He's a Republican nobody!

    April 3, 2010 10:51 am at 10:51 am |
  14. T'SAH from Virginia

    "...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..."

    Health Care is the real issue and this is what the polling results reflect!!! I have not seen ONE thing the RepubliCAN’Ts has offered that would bring jobs back and improve the economy???????

    All I hear from the Republicans is how they are going to REPEAL and REPLACE – now they are thinking about NOT Repealing and/or Replacing but FIXING the HC bill!!! They are feeding this to a gullible (weak) audience and all of a sudden, everyone thinks they have a better plan for the economy – JOBS???

    I truly hope they win all of the elections in 2010 – then we will see what they got that they could NOT have offered NOW!!

    April 3, 2010 11:03 am at 11:03 am |
  15. Save America, impeach the treasonous republicans

    One does get tired of the GOP lying and catering to the stupidity of their uneducated base. There is no such thing as a government takeover of health care, the non-parrtisan CBO reported that it would lower the debt, there are no death panels, we are beginning to add jobs ( if it were not for the GOP insisting that one-third of the stimulus go to tax cuts, and then refuse to support it, our job picture would be rosier), 95% of working Americans did get a tax CUT as of April of 2008, we are leaving Iraq. There are no penalties for not buying mandated health insurance.

    The former occupant of the white house redistributed $1.2 trillion in tax cuts to the wealthy, created a $1 trillion unfunded drug program, and spent $800 billion to bail out the banks. We are also paying for George's Folly in Iraq to the tune of another $1.2 trillion. Now that is Socialism.

    April 3, 2010 11:09 am at 11:09 am |
  16. Steven

    Republicans would scream bloody hell even if there were 10 times the number of jobs created, they absolutely want to destroy the working people of this nation. Their goal is to make the American worker the equal of a starving Chinese peasant who will endure totalitarian government just to be able to eat. Add to that the transparent claims, by republicans, of Democratic legislation as job killing, what a joke, republicans are only complaining because this legislation will stop the criminals(republicans masters) on wall street from again profiting from economic ruin they orchestrated on the American middle class and working class families, oh, and of course, it will stop the billions that the ceo's got in bonuses for their crimes upon America!!!!! May all republican legislators rot in hell ands they should be rotting in prison now !!!!!!!!

    April 3, 2010 11:15 am at 11:15 am |
  17. John

    I do have to laugh a bit when I hear Republicans complaining about 'unelected Washington bureaucrats.'

    April 3, 2010 11:17 am at 11:17 am |
  18. ran

    The fear/hate/obstructionism/purity Republicans have no end. But, we the people will end the this type of Republican in the next few elections if they do not change their behavior.

    Vote for either a true Democrat or Independent in 2010/2012 and not reward a single Republican with a win until they stop their fear/hate/obstructionism/purity ideology.

    April 3, 2010 11:20 am at 11:20 am |
  19. Ken in NC

    I've been reading and reading and for some time now I have been getting this uneasy feeling like no matter how the economy turns, or what the President may or may not do in an effort to pull us out of this mess we are in, Republicans are going to have problems with it. Now I have no problem with competition between the parties, however, the race for the White House is over and a new Captain for the ship in in place. Republicans are busy dogging the President at every turn when they should be finding ways to work with him. He is our chosen leader until 2012 even if they did not vote for him. By dogging this President at every turn Republicans are hurting this country and placing us in danger of collapse. They lost the election so that means they are not in power and need to work more closely with the party that is in power to get some of their ideas implemented. This attitude of The Republican Way Or No Way" is childish. It is not some game they are playing. I do not know what this country is coming to but I do not think I am going to like it. We are beginning to act more and more uncivilized as a people with each passing day and that is not good. It is really bad when our law makers are advocating it themselves. Oh I know they say "I'M NOT ENCOURAGING PEOPLE TO BECOME VIOLENT", but they are. They are smart enough to know that the way they say things is taken wrong by many of the idiots out there and they go out and do just what our politicians want them to do. We are becoming what we most dislike. We hold free and democratic elections to choose our leader but if your side does not win then you start a civil war to get the power you seek.


    April 3, 2010 11:25 am at 11:25 am |
  20. TonyInLargo

    In 1992 President William Clinton went into office and found a $5,000,000,000,000.00 (that's $5 Trillion) dollar deficit that had been run-up by former President George Bush. In 8 years time, under President Clinton's administration that deficit was eliminated and when he left office, the government had a $2 Trillion Dollar surplus.

    George Bush, son, took office as President in 2000 and in 8 years he spent the $2 Trillion Dollar surplus and ran-up a $7 Trillion Dollar Deficit and almost brought us to ruin.

    One might think that the moral of the story is to make sure that no more Bush's are elected to President. That's not it. Bush father and son didn't do this alone. They did it with the help of their Republican cohorts inside and outside the administration.

    We will recover once again with President Obama in office for 8 years, only this time, when his 8 years are over, we will not turn back another highly decorated American, like we did with Senator John Kerry, for a National Guard absentee whose pass time was driving companies into the ground in Texas.

    Until they change their tune, Republicans will not get my vote again and Democrats will continue to get my support and, their personal family matters will play no part in my decision.


    April 3, 2010 11:28 am at 11:28 am |
  21. liz the First

    A graph of the job situation clearly shows job losses increasing steadily under bush and beginning to climb back to even and even job growth under Obama. this is a fact the repunklicans can't lie their way out of. they would trash Obama if he managed to wave a magic wand and get every American back to work tomorrow. this is just pure hate and pro-big business ideology at work. and fewer and fewer Americans are buying it. keep up showing your true colors, rethuglicans. it's not pretty!

    April 3, 2010 11:30 am at 11:30 am |
  22. Finch

    OK, I guess I'm confused.

    Why are Republicans NOW so upset over the TARP bill–written by a Republican cabinet, passed by Republicans, and signed into law by a Republican president in October 2008?

    Why bash Obama for his involvement? What was his involvement? He hadn't been elected yet much less taken office yet?

    Is my memory totally lost?

    April 3, 2010 11:31 am at 11:31 am |
  23. Mary Sweeney

    Have I missed something here??? Was it not the Republicans who got us into this mess through their unfunded war(s) and heir unfunded Medicare Part D? They have suddenly morphed into the party of financial responsibility? We are not April Fools! We see the President turning up for work every day, woking hard, seeking advice, turning the country around. Would you please get out of the way!

    April 3, 2010 11:33 am at 11:33 am |
  24. Fed Up

    So the Dems' policies kill jobs. The Reps' policies encourage Americans' jobs to be sent overseas.

    The bottom line is that both parties are screwing the American worker, and by default, the American economy.

    I'd rather have my job killed outright by the Dems than have some CEO, VP, or director, get a bonus because he/she shipped my job, and those of my colleagues, to India, Pakistan or some such place.

    April 3, 2010 11:36 am at 11:36 am |
  25. El Gordo

    And those same Republicans were saying, when those banks failed, that it was a failure of government regulation, not of lending institutions.

    Now what would those Conservative experts on the "Free Market" propose to prevent another bubble caused by irresponsible lending and borrowing? The silence goes on and on...

    April 3, 2010 11:43 am at 11:43 am |
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