Obama: Court ruling 'devastating'

WASHINGTON, Jan. 23 (UPI) -- U.S. President Barack Obama said the Supreme Court ruling on campaign finance was "devastating" and gave too much political influence to "special interests."

In his weekly radio and Internet address Saturday, Obama said the ruling -- which overturned limits on corporate and labor spending in political campaigns -- "opens the floodgates for an unlimited amount of special interest money into our democracy."

"It gives the special interest lobbyists new leverage to spend millions on advertising to persuade elected officials to vote their way -- or to punish those who don't," the president said.

Obama said political figures who "stand up to the special interests" would face "assault come election time."

"I can't think of anything more devastating to the public interest," he said. "The last thing we need to do is hand more influence to the lobbyists in Washington, or more power to the special interests to tip the outcome of elections."

Echoing statements he made several times following Thursday's Supreme Court ruling, Obama said he has directed administration officials to begin work with Congress to "develop a forceful, bipartisan response to this decision."

"We have begun that work, and it will be a priority for us until we repair the damage that has been done," Obama said.