WASHINGTON, D.C. – President Barack Obama used a visit to Cleveland to take “a little credit” for low unemployment and to take a swipe and a Republican budget proposal.
In a speech at the City Club of Cleveland, Obama challenged Republican budget priorities, saying they are based on economic theories that do not work. He said the plan was one that offers a “path to prosperity for those who’ve already prospered” and no path to help hard-working, middle-class people get ahead.
“It’s the opposite of middle-class economics. It doubles down on ‘trickle-down,” he said.
He cites the current economic recovery as evidence that his own economic policies have succeeded. He says: “I’m going to take a little credit” for lower unemployment rates, stronger corporate balance sheets and a booming stock market.
The House Republicans released a $3.8 trillion budget Tuesday that spends on defense, partially privatizes Medicare and eliminates deficits in 10 years.
Obama’s budget proposal would target corporate profits overseas, raise taxes on the rich, spend billion on roads and bridges and reverse automatic budget on defense and domestic spending.