June 15th, 2012
11:15 AM ET

Pres. Obama rep.: Government has role in growing economy

President Obama Campaign Press Secretary Ben LaBolt makes a case for the President’s vision on economic policy, healthcare, education and housing, and compares it to Mitt Romney’s record and campaign strategy.

LaBolt says, “[Romney’s] proposed $5 trillion tax cuts for the wealthiest that the middle class and seniors would be forced to pay for, and stripping back regulations from banks and polluters and assuming that the market would do the rest. And the fact is we tried those policies. We passed those tax cuts in 2001 and 2003. They were supposed to unleash growth and job creation, and they didn't. We saw the slowest job growth we've seen in half a century. So the question is, why would we go back to those same policies that ended up being a house of cards that led to the economic crisis in the first place?”

On differing economic plans, he continues, “The president believes that we should build from the middle class out, by investing in things like education and research and development to spur America to out-innovate and out-educate the rest of the world. That's how to restore economic security for the middle class, which should be the true test of our economy. Mitt Romney has a different vision. He believes in giving special breaks to those at the top and that they'll trickle down. And that we should strip back regulations. And the market will do the rest.”

LaBolt adds that government plays a role in growing the economy and adds, “Well, let's take a look at a few key issues and break it down. On education, for example, the president has doubled funding for college scholarships, provided students with a $10,000 tax credit to pursue higher education. Mitt Romney has told students they should just shop around for cheaper tuition costs or ask their parents for money. Of course, some of their parents may not have the money to offer them. When it comes to housing, the president has a refinancing plan that has allowed 5 million responsible homeowners who are struggling to pay their bills, many who might have been scammed by mortgage lenders, to refinance their homes…. Romney on tuition, for example, has told students that they are on their own. The president does believe that we should provide students with access to higher education and that the government has a role in helping them to achieve that, because that will help us grow the economy in the long run if we allow America to out-educate the rest of the world and ensure that the next generation has the skills required for the jobs that are available on the market.”

Starting Point with Soledad O’Brien airs weekday mornings from 7-9am ET on CNN.

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Topics: CNN • CNN Politics • Soledad O'Brien • Starting Point
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