Thread: Gingrich: 'This is the Obama Depression’

Gingrich: 'This is the Obama Depression
ABC News' Arlette Saenz reports:

Newt Gingrich labeled the economic situation in the U.S. as the “Obama depression,” just days after a dismal jobs report and signs negotiations on the debt deal are faltering.
“At 9.2 percent now for month after month after month, this is the Obama depression,” Gingrich said on Fox and Friends Sunday morning. “Housing prices have dropped deeper than in the great depression and it’s very clear that under Obama’s job killing policies, we’re not going to get out of this deep unemployment.”
The former speaker of the House praised Speaker John Boehner for making the decision that Republicans will not stand for tax increases.
“Republicans are correct to say first of all, no tax increase period. John Boehner was right. He deserves credit for recognizing that the right position for conservatives is no tax increase. Second, they ought to get the biggest spending cut deal they can by taking what Vice President Biden put on the table,” Gingrich said. "I think the largest deal possible with no tax increases is fine."
In a National Review op-ed Friday, Gingrich wrote, "Republicans should reject the establishment's demand for a tax increase. There is plenty of money to be saved from a bloated government without giving Washington one penny of higher taxes."
Gingrich joined fellow 2012 Republican contender Mitt Romney in criticizing David Plouffe’s claim that Americans won’t cast their votes in the 2012 election based on unemployment numbers, saying Plouffe lives in a “fantasy.”
“If you’re David Plouffe and you’ve got a nice job, it’s easy for you to say the unemployment rate doesn’t matter,” Gingrich said. “When you go out and talk to Americans in the rest of the country outside Washington, I guarantee you the unemployment rate matters, the economy matters, the price of housing matters, and in every one of those issues, this Obama depression is real.”
“If David Plouffe thinks they’re going to be able to have 9.2 percent unemployment and not have a very public reaction against the president, I think he’s living in a fantasy.”

http://abcnews.go.com/blogs/politics...ma-depression/