Obama lacerates Republicans on economy
(AFP) – 6 hours ago
google.com
PITTSBURGH, Pennsylvania — President Barack Obama Wednesday sought to break the political siege imposed by the US oil disaster, lacerating Republicans for gutting corporate regulation and exploding deficits.
Obama also predicted a "strong" report on jobs growth on Friday, as he mounted a defense of his economic policies in a campaign-style speech which provoked an immediate clash with his foes ahead of November's mid-term polls.
"As November approaches, leaders in the other party will campaign furiously on the same economic arguments they've been making for decades," Obama said.
"We can't go back, we have got to move forward," Obama said, accusing Republicans of embracing "tax cuts" that were not paid for, for millionaires who didn't need them and putting "industry insiders" in charge of oversight.
"Fortunately we don't have to look back too many years to see how their agenda turns out," Obama said during a trip to Pittsburgh, a former steel town that has recreated itself as a hub for green energy and economic regeneration.
"We know where those ideas lead us, and now we have a choice as a nation," Obama said.
"We can return to the failed economic policies of the past, or we can keep building a stronger future," said Obama, seeking to change the subject as he faces rising criticism over his handling of the Gulf of Mexico catastrophe.
Republicans immediately launched a counter-attack, coining a familiar criticism that the president is a fine speechmaker, but poor economic strategist.
"It's clear from his harsh partisan rhetoric today that President Obama has run out of excuses for his broken promises on the economy," said John Boehner, the top Republican in the House of Representatives.
"Instead of creating the jobs and prosperity he promised, President Obama's 'new foundation' consists of more spending, more debt, more job-killing policies, and more permanent bailouts, which is really no foundation at all."
The number two House Republican, Eric Cantor, took a similar tack.
"Good speeches can't improve failing policies," said Cantor.
"America needs more than speeches and words -- we need action to begin to erase our deficits and free our children from our debt."
Obama said that mitigating the oil spill crisis in the Gulf of Mexico was the "top priority" of his administration.
"We are waging this battle every minute of every day," he said, but also tried to focus attention on the tough decisions he made after taking office in the teeth of the deepest economic crisis in generations.
"We added jobs for five of the last six months and expect to see strong job growth on Friday's report," Obama said, referring to imminent official employment figures for May.
The previous Labor Department jobs report, for April, showed that the economy created 290,000 jobs, though the unemployment rate spiked up to 9.9 percent.
Copyright © 2010 AFP. All rights reserved. More » |
