Economic growth focus of weekly addresses
October 13th, 2012
06:00 AM ET
10 years ago

Economic growth focus of weekly addresses

(CNN) - President Barack Obama and a Republican congressional candidate focused on the economy during their Saturday weekly addresses.

Obama spoke about the auto industry, while Oklahoma Republican Markwayne Mullin, who is seeking election to Congress, spoke about the challenges faced by his plumbing business.

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"Right now, I spend more than 40 cents of every dollar the company takes in on complying with regulations," Mullin said in his address. "When I first started using that figure, people would say, 'wait, you're talking about taxes too, right'? Nope, that is just what we spend on regulations."

The Oklahoman said Republican presidential candidate Mitt Romney has "made supporting small businesses a key plank of his jobs plan," while Obama and Senate Democrats "support piling on regulations that make it harder to hire, work and do business in the U.S."

In his address, Obama spoke about the auto industry and his effort to save it.

"Just a few years ago, the auto industry wasn't just struggling – it was flatlining," he said, pointing to the condition of General Motors and Chrysler, and the impact on their supply chains and related industries. "More than a million jobs across the country were on the line - and not just auto jobs, but the jobs of teachers, small business owners, and everyone in communities that depend on this great American industry."

But, Obama said, "we refused to let Detroit go bankrupt," referencing the headline of a 2008 op-ed Romney wrote in support of a managed bankruptcy model to save the struggling automakers.

"Today, auto sales are the highest they've been in more than four years. GM is back. Ford and Chrysler are growing again," he said. "Together, our auto industry has created nearly a quarter of a million new jobs right here in America."

The president also touted increased fuel efficiency standards as "good for your wallet, it's good for our economy, and it's good for the environment."

Obama is off of the campaign trail Saturday, though he travels to Williamsburg, Virginia, where he will prepare for Tuesday's presidential debate in New York. Romney will campaign in Ohio on Saturday.

And with only 24 days remaining until Election Day, Mullin will likely be on the campaign trail.

"A lot of people call them 'congressmen,' but I don't want to be a man of the Congress," he said in his address. "I'm asking to go to Washington to represent the values and priorities of my neighbors."

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Filed under: 2012 • Mitt Romney • Oklahoma
soundoff (15 Responses)
  1. Gurgyl

    Let DETROIT go Bankrupt. GM saved, Bin Laden killed. Nation is on right track.
    PS: mitt Romney will eliminate SS, Medicare, Healthcare, planned PARENTHOOD.

    October 13, 2012 07:30 am at 7:30 am |
  2. GI Joe

    I want specifics on how regulations affect his bottom line. If it is because he is required to do the job right, with no pollution in the homes of the families, what the HE!! is wrong with that. Throwing out "regulations cost me profits" - it's not enough. HOW do the regulations cost?????

    October 13, 2012 07:53 am at 7:53 am |
  3. Four and The Door

    But, Obama said, "we refused to let Detroit go bankrupt," referencing the headline of a 2008 op-ed Romney wrote in support of a managed bankruptcy model to save the struggling automakers.
    Maybe he just forgot. GM and Chrysler did go bankrupt. Just like Mitt Romney said. And if GM is doing so spectacular, why not sell the $25 billion stock the taxpayers still own? Because we would realize a $15 billion loss on that investment, that's why. Apparently he overstated the deal in 2009 when he said it wouln't cost the taxpayers a dime.

    October 13, 2012 07:55 am at 7:55 am |
  4. James

    Good. Job. Obama Keep fighting

    October 13, 2012 08:15 am at 8:15 am |
  5. Rick McDaniel

    Obama has NOTHING! Empty rhetoric, that is meaningless!

    October 13, 2012 08:23 am at 8:23 am |
  6. jpmichigan

    As I recall President Bush started bail out of the automobile companies, Obama took over and made sure that only UNION workers benefitedd. Majority if not all, non-union workers and salary workers ( Delph and Auto dealers) lost jobs and pensions. Obama never mentions that! If the auto makers had to go bankrupcy, the union would of had to re-negotiate their agreements. The so called President for alll people , picks and chooses whom he will help. That inclludes only unions, friends and donors.

    October 13, 2012 08:48 am at 8:48 am |
  7. Gurgyl

    Buddy–do not be timid–he is not your uncle to be polite-hit with 47% comment of MIDDLE CLASS AMERICANS. God is on YOUR SIDE. Let world know, let USA know. BAIN CAPITAL AND MR. CHINA. Yes, on Obama12.

    October 13, 2012 09:13 am at 9:13 am |
  8. Hollywood

    As it should be. The next debate should be a real eye opener due to recent changes.

    October 13, 2012 09:50 am at 9:50 am |
  9. Wire Palladin, S. F

    Say what you want, if small businesses don't have to pay even a minimum wage or provide safety in the work place, imagine what their profits would be.

    October 13, 2012 09:56 am at 9:56 am |
  10. Ancient Texan

    Ford didn't need or want Government meddling. Chrysler was saved by Fiat buying them, and GM is still hanging on...barely. Their stock value is in the tank, true stockholders will NEVER get their money back (Obama gave GM to the UNIONS) the VOLT is a disaster and not selling, and they still owe the taxpayers $42 billion (including GMAC Financial).

    October 13, 2012 09:59 am at 9:59 am |
  11. Thomas

    Who Got Us In This Mess ?

    8 Years of a Man Called Bush .

    Romney = Bush 2012

    October 13, 2012 10:13 am at 10:13 am |
  12. Flagrante Delicto

    Politics os the art of postponing a decision util it is no longer relevant.

    October 13, 2012 10:56 am at 10:56 am |
  13. lance

    "FORWARD" into more debt more recession more unemployment more immigrants taking the few american jobs available out there. yea 4 more years !

    October 13, 2012 11:01 am at 11:01 am |
  14. g

    build the military all you want ,as long as you see made in china on everything ,you all ready lost the war

    October 13, 2012 11:06 am at 11:06 am |
  15. doug

    Just watch the Democrat-sim of Biden during the debate, this is how Democrats act, all of 'dem no exceptions.

    WHen the VP acts like a classless jerk void of any decency, respect, and integrity, obviously the Democrat drones will mimic, so you have teachers like the one in Phillly screaming and spitting in the face of students, encouraging the student to be bullied by the whole class just for wearing a Romney shirt.

    Check your heart, if you find some decency then you have a moral obligation to vote Republican. Watch Biden in the debate again, read about the millions of Democrat death threats against every and any American who is not an Obama supporter.

    Even Obama said that every American who doesn't vote Democrat is the enemy and he wants to punish them. His words, check his Univision interview in 2010. These are facts, Democrats only have attacks.

    October 13, 2012 11:09 am at 11:09 am |