Obama: GOP plan is 'worn out philosophy'

Sept. 25, 2010 at 6:01 AM
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WASHINGTON, Sept. 24 (UPI) -- U.S. President Barack Obama Saturday said America needs to "keep pushing" for economic growth and criticized GOP economic proposals as "worn out philosophy."

In his weekly radio and Internet address, the president noted a report this week that the recession that began in December 2007 was found to have ended officially in June 2009, but said the news was "of little comfort or value" to millions of Americans who are still out of work.

"But we have to keep pushing to promote growth that will generate the jobs we need, and repair the terrible damage the recession has done," Obama said.

Two days after House Republicans announced "A Pledge to America" -- a 28-page manifesto detailing how they would govern if the GOP wins the House in the November elections -- Obama said many of the ideas in the document are "the very same policies that led to the economic crisis in the first place, which isn't surprising, since many of their leaders were among the architects of that failed policy."

"It is grounded in the same worn out philosophy: cut taxes for millionaires and billionaires; cut the rules for Wall Street and the special interests; and cut the middle class loose to fend for itself," he said. "That's not a prescription for a better future. It's an echo of a disastrous decade we can't afford to relive."

Obama chastised congressional Republicans for blocking action on proposals intended to help small businesses -- including tax cuts and expanded business loans, which Congress enacted Thursday after breaking a GOP filibuster.

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