Cantor says Obama’s economic programs are not working
Rep. Eric I. Cantor, R-7th, delivering the response to President Barack Obama's weekly radio and video address, said today that Obama's economic programs "have not produced jobs, have not produced prosperity and have not worked."
Obama had said in his address that the $787 billion stimulus program must be given a chance to work before consideration is given to a second such jolt for the still-ailing economy.
"We must let it work the way it's supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity," the president said in his recorded message.
Cantor, the GOP whip in the House of Representatives, said Republicans have offered an alternative economic plan that would have revitalized small businesses and helped middle-class families.
The Henrico County resident urged the listening audience to call their congressional representative and the president and "let them know that you think Washington should stop the reckless spending, stop the careless borrowing and stop the war on the middle class."
As the second ranking Republican in the House, Cantor has become one of the leading critics of Obama and the stimulus.
"This is now President Obama's economy and the American people are beginning to question whether his policies are working," Cantor said.
He said tax rates should be reduced so taxpayers will see "an immediate increase in their income."
"We believe Washington must stop targeting America's small businesses and instead should empower them by allowing employers to take a tax deduction to free up funds to retain and hire new employees," he added.
The Associated Press contributed to this report.
Reader Reactions
Devil.. just one question. When we vanquish the evil business owners.. where are we all gonna work? I guess the government will just support us? But where will the govt get the money.. no “evil corps” or rich people to get it from.. ohhhhhhhh. Shoot I don’t know.. Obama can figure it out..
Look.. anyone will tell you that you can claim you reached your goal when you change the target after your shot. He said his stimulus would create in the neighborhood of 3 M jobs.. when in reality much of what has been spent has gone to paying for public assitance etc.. and more jobs are lost.. He said it’s now a success because we have taken care of people.. well.. that isn’t what he said it would do when he wanted it spent.. now he changed his mind on what he thought his plan should accomplish. Moving the goal post to where the ball landed isn’t winning.. it’s cheating. I am not saying I supported GW’s plans either.. I actually didn’t think that bailing out those companies was such a good idea, but when it showed that bailing out the companies just created a line of them at the govt doorstep.. I was convinced it was not the way to go. I am just disapointed that at every turn, Obama is doing things that will damage our country and economy (cap n trade etc..) He may have his heart in the right place wanting to “help poor people”, but at some point, he has to understand that if people have no incentive to do better, they for the most part won’t even try. It also creates a lot of resentment among those who are left doing the heavy lifting (tax paying).. I just love seeing the teenager with their Hope n Change teeshirt knowing that they haven’t had to make those “sacrifices” to “share” with others (ie pay taxes). It makes me want to walk up and confiscate their Iphone and give it to someone else and explain that is what the Hope n Change is all about… hope they like the change in their iphone’s ownership.
“Posted by ( Steve ) on July 12, 2009 at 9:49 am
Cantor is the only one with nads to tell it like it is. Refreshing. Get’em Eric.“
He lost me when he voted for the punitive tax on the retention bonuses at AIG - sorry, anyone who is going to use taxes to penalize law abiding citizens is no conservative.
“Posted by ( Anon ) on July 11, 2009 at 7:06 pm
Kant,
Is your argument that we should wait until all the banks all over the world have failed before we try to respond? I understand about Adam Smith’s theory of Creative Destruction. “
I beleive that is Joseph Schumpeter’s theory, not Adam Smith’s. And it actually explained technical inovation, not a regression of the overall market.
Cantor will be unseated in 2010, just like Virgil Goode was in 2008. He is too right wing and too obstructionist for his own district.
Wow, who could have forseen that a recession that started in December 2007 was not only Obama’s fault, but that it would take longer than five six months to fix it?
Remember when conservatives used to make fun of Obama supporters, accusing them of thinking he had magical powers? Yeah…me too.
Wow…Fox News/Rush Limbaugh propaganda at it’s best. Listen Republicans…your ideas are outdated and more importantly they don’t work. We tried it your way and look where it got us. So stew in your own hatred as Obama gives America back to the people and takes it away from the corporate power structure. The sweet irony is most of you Cons who are commenting on this story will probably be better off under Obama. But, alas, you will still feed from the Limbaugh blubber trough and gorge yourselves on lies, fear, and scare tactics aimed to persuade the uneducated and ignorant.
After 8 YEARS of having Bush-onomics wreck the economy, it’s certainly going to take more than 6 MONTHS to straighten it out. Indications are that the bleeding has, indeed, been slowed by the stimulus package, and the bottom is in sight. Come back in another 6 months, Eric, and then find something to bee-yatch about.
Cantor is an unabashed obstructionist tool and should spend more of his energies trying to be a part of the solution, rather than continuing to be a part of the problem.
Apparently, most of Cantor’s fellow Americans disagree with him, based on the results of last Fall’s Presidential and Congressional elections and on current polls. Maybe he should take note of that. To paraphrase President Obama, “Hey, HE won.“ So shut up, Eric.
Posted by ( J-Reb ) on July 12, 2009 at 4:23 pm
“Massive tax cuts are needed” ... LOL… that’s how the Bush people engineered this fiscal disaster. And Cantor was on board (including the bailouts) until the day Bush left office.
Once again, somebody falls for the liberal talking points hook, line and sinker.
Fact. 2003 nearly $1782.5 billion taken in by Federal Government
Fact. 2006 approximately $2407.3 billion taken in by Federal Government
Sounds to me like the tax cuts worked.
Fact. Federal Government generated significantly more revenue under Reagan and Kennedy TAX CUTS! The method is tried and proven and the far left knows it. Unfortunately, power is more important to the far left than the betterment of the nation is.
CANTOR IS RIGHT—BUT CAN THE CITIZENS
WAIT ?
Lets jump to the chase: Obama is a college professor who had a limited bit of in-street and in-state political experience—who powder puffed his way througha couple of years in the real congress of the USA and then won the lottery into the presidency…He has no practical business experience and his cavalier evolution has led him to become a cynical and idealist reformer for a socialist utopia. He developed a suave demeanor from his college teaching days that snows uninformed students and the poor. In reality he is a pawn of the liberally insane like Barney Frank and Hillary Clinton
who have always dreamed of pursuing wallet busting social programs to essentially weaken the country to where they can call the shots….In reality they are the worst thing imaginable
for the USA right now…Any savvy oversight would have immediately
moved to give sweeping tax deferments and breaks to businesses that hire people—esp. small businesses—and put into place all sorts of tax incentives for businesses in general. (That’s
What Mit Romney would have done—but thanks to people like Pat Robertson and Mike Huckaby—Mr. Romney’s religion didn’t quite suit them—now look what we have !!) Health care reform and various stimulus packages as they
are being created by the democrats
are impractical in light of priorities to save our nation. We should also be drilling for oil and natural gas right now and slashing government like a going out of business sale. But instead this professor president is out defending terrorist kingpins in Honduras
and bailing out the unions while US businesses are going out of business. I predict within the next two years there will be a silent but steady tax revolt by millions of citizens and businesses—legally deferring payments to the government while states such as Texas—begin a reigning in of their
states rights so as not to see their economies being wrecked by utopian
socialists—who fantasize about creating “green” jobs—while you try
to get across town to your over taxed and tenuous job.
Let’s NOT forget that Cantor publicly recanted (via public news radio) the bailouts package but the voted FOR it twice, the first time when it didn’t go through and then the second time when it eventually did.
He’s a two-faced bold-faced LIAR. He cares nothing about the people he represents, only his own agenda which is making money for himself and only voting for things (like high-speed rail, which will get HIM from Richmond to DC faster) that benefit him, not his constituents.
He needs to go. He’s an entitlist worried about his own kind and his own kind alone, not about taxpayers and regular citizens.
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