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McConnell: Obama spending increase plan is 'baffling'

McConnell: Obama spending increase plan is 'baffling'

by Joe Arnold

WHAS11.com

Posted on June 8, 2012 at 11:27 AM

(WHAS11 Political Blog) -- Reacting to President Barack Obama's mid-morning news conference, U.S. Senate Republican Leader Mitch McConnell said Friday it is "baffling that in the face of all evidence to the contrary, this President still believes that spending money we don’t have to inflate the government is the answer to America’s economic problems."

The President had again called on Congress to pass spending legislation to stimulate the economy by putting construction workers, teachers and others back to work.

"Whether the President wants to acknowledge it or not, we are now living in the Obama Economy," McConnell said in a statement, "and no ‘post-it note’ proposal can reverse the damage done by his policies over the past three and a half years."

In his news conference, Mr. Obama both urged European leaders to inject more capital into the banking system to prevent the debt crisis from further undermining the world economy and pressured Congress to spend more at home after last week's report that the unemployment rate had increased while job creation had slowed.

"There's no excuse for not passing these ideas," the president said.

"The economy would respond much more favorably to providing the tax certainty Americans deserve by extending all the tax rates and assuring employers they do not have to budget for the largest tax increase in American history next year," McConnell countered.  "The Obama Economy is even slower now than when we extended the rates in 2010—raising taxes on job creators in this slow economy is simply not the elixir for his failed policies.”


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