President Obama on Republican policy: “It’s an echo of a disastrous decade we can’t afford to relive.”

Framing this election as a crossroads on the future of our economy, President Obama made sure to list the progress we’ve already made while still acknowledging that not all news is good news if you are unemployed:

“This week, the economists who officially decide when recessions start and end declared the recession of 2008 to be over. But if you’re one of the millions of Americans who lost your home, your job, or your savings as a consequence of the recession, this news is of little comfort or value.

Yes, the economy is growing instead of shrinking, as it was in 2008 and the beginning of 2009. We’re gaining private sector jobs each month instead of losing 800,000, as we did the month I took office. 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.”

In response, the President mentioned the following additional proposals to address the economy:

  • Accelerated tax breaks for businesses who buy equipment now;
  • A permanent research and development tax break to promote innovation by American companies; and
  • A new initiative focused on rebuilding American roads, rails, and runways.

President Obama contrasted his proposals with those of the Republican party. In short, the President argued that Americans simply can’t afford to go back to Republican control:

“Now, the Republicans who want to take over Congress offered their own ideas the other day. Many were 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’s 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. That’s not a prescription for a better future. It’s an echo of a disastrous decade we can’t afford to relive.”

President Obama’s Weekly Address:

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