Pelosi Statement on President Obama's Economic Speech in Ohio

Contact: Brendan Daly/Nadeam Elshami/Drew Hammill, 202-226-7616

Washington, D.C. - Speaker Nancy Pelosi issued the following statement today on President Obama's economic speech in Ohio today. Below the statement is a fact sheet on the President's speech:

"President Obama delivered a clear choice for Americans today: The Democratic vision for a stronger economy and a growing middle class versus the Republican plan to take us back to the exact same failed Bush policies of the past, cutting taxes for the wealthiest 2 percent, huge deficits, and fewer jobs.

"Democrats in Congress are working with President Obama to strengthen our middle class and small businesses. We are committed to creating jobs here at home through our ‘Make It In America' manufacturing strategy.

"We must keep America moving forward - not back to the reckless policies that cost us more than 8 million jobs and left our nation deeply in debt."

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Fact Sheet: President Obama Delivered Clear Choice Between Democrats Fighting for Middle-Class and Failed Republican Economic Plan

President Obama: "Do we return to the same failed policies that ran our economy into a ditch, or do we keep moving forward with policies that are slowly pulling us out? Do we settle for a slow decline, or do we reach for an America with a growing economy and a thriving middle class? That's the America that I see. We may not be there yet, but we know where this country needs to go." [White House, 9/8/10]

Congressional Republicans, led by Leader John Boehner, continue to:

• Call for an extension of the Bush tax cuts for the wealthiest Americans - which will cost taxpayers $700 billion over the next ten years.

From President Obama:

"There were no new policies from Mr. Boehner. There were no new ideas. There was just the same philosophy that we had already tried during the decade that they were in power -- the same philosophy that led to this mess in the first place: Cut more taxes for millionaires and cut more rules for corporations.

"...But the Republican leader of the House doesn't want to stop there. Make no mistake: He and his party believe we should also give a permanent tax cut to the wealthiest 2 percent of Americans...With all the other budgetary pressures we have - with all the Republicans' talk about wanting to shrink the deficit - they would have us borrow $700 billion over the next 10 years to give a tax cut of about $100,000 each to folks who are already millionaires. And keep in mind wealthy Americans are just about the only folks who saw their incomes rise when Republicans were in charge. And these are the folks who are less likely to spend the money - which is why economists don't think tax breaks for the wealthy would do much to boost the economy." [White House, 9/8/10]

• Oppose efforts to close corporate tax loopholes that encourage corporations to ship American jobs overseas.

From President Obama:

"For years, Republicans have fought to keep these corporate loopholes open. In fact, when Mr. Boehner was here in Cleveland he attacked us for closing a few of these loopholes - and using the money to help states like Ohio keep hundreds of thousands of teachers and cops and firefighters on the job. Mr. Boehner dismissed these jobs we saved - teaching our kids, patrolling our streets, rushing into burning buildings - as "government jobs" - jobs I guess he thought just weren't worth saving.

"And I couldn't disagree more. I think teachers and police officers and firefighters are part of what keeps America strong. And, Ohio, I think if we're going to give tax breaks to companies, they should go to companies that create jobs in America - not that create jobs overseas. [White House, 9/8/10]

• Oppose efforts to create good-paying American jobs and help the middle-class dig out of the recession.

From President Obama:

"We want to put more Americans back to work rebuilding America - our roads, our railways, our runways. When the housing sector collapsed and the recession hit, one in every four jobs lost were in the construction industry. That's partly why our economic plan has invested in badly needed infrastructure projects over the last 19 months - not just roads and bridges, but high-speed railroads and expanded broadband access. Altogether, these projects have led to thousands of good, private sector jobs, especially for those in the trades.

"Mr. Boehner and the Republicans in Congress said no to these projects. Fought them tooth and nail. Though I should say it didn't stop a lot of them from showing up at the ribbon-cuttings - trying to take credit. That's always a sight to see." [White House, 9/8/10]

• Support the privatization and cutting of Social Security for millions of America's seniors - turning it over to the whims of Wall Street.

From President Obama:

"That's why we're trying to make it easier for workers to save for retirement and fighting the efforts of some in the other party to privatize Social Security - because as long as I'm President, no one is going to take the retirement savings of a generation of Americans and hand it over to Wall Street. Not on my watch." [White House, 9/8/10]

• Oppose legislation that is part of the "Make It In America" agenda - to increase American manufacturing and create new American jobs.

From President Obama:

"We see a future where we invest in American innovation and American ingenuity; where we export more goods so we create more jobs here at home; where we make it easier to start a business or patent an invention; where we build a homegrown, clean energy industry - because I don't want to see new solar panels or electric cars or advanced batteries manufactured in Europe or Asia. I want to see them made right here in the U.S. of A by American workers." [White House, 9/8/10]