President Barack Obama Blames Bush & GOP for Weak Economy

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President Barack Obama Blames Bush & GOP for Weak Economy – President Barack Obama has fallen under increased criticism in recent months for the slow economic turnaround and many of the other problems that now face our country. He maintains that he simply inherited a bad situation, and is in the process of turning things around as quickly as he can. At a recent event for the Democratic Party, he criticized republican officials, saying that their thought process was the same that George Bush had, and will simply lead the country right back to where we were previously.

“They don’t have a single idea that’s different from George Bush’s ideas–not one,” Obama said to the crowd. It is strange to hear him address Bush directly, as he usually chooses to refer to that entire staff as “the previous administration.”

Obama maintains that the republican policies are responsible for our current downtrodden economic situation, and that we need to think progressively, and not retroactively. He pointed out that many republicans would like to give tax cuts to millionaires, slice rules for special interest groups and leave the middle class to fend for themselves, even in the toughest of times.

The Obama administration has said that they would like to extend the tax cuts that were put into place by the Bush administration for individuals that are making less than $250,000, but has opted not to extend the tax cuts for individuals that are making over that amount.
He also criticized republican officials for only pushing their own agenda, and fighting the overhaul of health care and Wall Street regulation tooth and nail.

1 COMMENT

  1. Keeping jobs away from India, China helped US recovery

    Why are we outsourcing JOBS to INDIA AND CHINA while US is reeling under financial crisis, despite all the gains by outsourcing jobs outside US eventually US is looser!

    BIG US companies outsourcing US jobs to INDIA CHINA are then investing in INDIA CHINA to gain further profits and exploiting TAX rules in their favor.

    RIGHT move but a little late – “Keeping jobs away from India, China helped US recovery” however lets SAVE US JOBS for US CITIZENS ONLY!

    Keeping jobs away from India, China helped US recovery: Obama
    3 Aug 2010, 1027 hrs IST,IANS

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    WASHINGTON: US President Barack Obama has said America is on the road to recovery thanks to his economic plan that included ensuring new jobs and industries don’t go to China and India.

    Blaming opposition Republicans, Obama said he took office in January 2009 “after nearly a decade of economic policies that gave us sluggish growth, falling incomes, and a record deficit, and policies that culminated in the worst financial crisis that we’ve seen since the Great Depression”.

    “Now, we didn’t get here by accident,” he said Monday at a Democratic Party fund raiser event in Atlanta, Georgia, noting that all told 8 million jobs were lost as a consequence of this crisis.

    “We got here after 10 years of an economic agenda in Washington that was pretty straightforward: You cut taxes for millionaires, you cut rules for special interests, and you cut working folks loose to fend for themselves,” Obama said. “That was the philosophy of the last (Republican) administration and their friends in Congress”.

    So when he took office, the president said he put forward a “new economic plan that rewards hard work instead of greed; a plan that rewards responsibility instead of recklessness”.

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    The plan, Obama said, was “focused on making our middle class more secure and our country more competitive in the long run so that the jobs and industries of the future aren’t all going to China and India, but are being created right here in the United States of America”.

    “Instead of spending money on tax breaks for folks who don’t need them and weren’t even asking for them, we’re making smart investments in innovation and clean energy and education that are going to benefit all of our people and our entire economy over the long run.”

    “Now, because the policies of the last decade got us in such a deep hole, it’s going to take some time for us to dig ourselves out,” Obama said.

    “We’re certainly not there yet. But I want everybody to understand, after eighteen months, I can say with confidence we are on the right track,” he said amid applause.

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