The news comes as President Obama fielded questions about his handling of the economy in a televised appearance on the business news network CNBC. Speaking before a Town Hall-style audience, President Obama criticized Republican efforts to maintain the Bush-era tax cut for the wealthiest Americans.
President Obama: "What the Republicans are proposing is that we, in addition to that, provide tax relief to primarily millionaires and billionaires. It would cost us $700 billion to do it. On average, millionaires would get a check of $100,000. And, by the way, I would be helped by this, so I just want to be clear. You know, I’m speaking against my own financial interests. This is a—it is an irresponsible thing for us to do."
Obama also took questions from audience members, including a financial executive who said Wall Street has felt vilified by the White House. Obama responded that he thinks a large majority of the population "feels like I’ve been too soft on Wall Street." An audience member who described herself as middle-class said Obama has failed to deliver on his campaign slogan of "change."
Questioner: "I’m one of your middle-class Americans, and quite frankly, I’m exhausted. I’m exhausted of defending you, defending your administration, defending the mantle of change that I voted for, and deeply disappointed with where we are right now. I have been told that I voted for a man who said he was going to change things in a meaningful way for the middle class. I’m one of those people, and I’m waiting, sir. I’m waiting. I don’t feel it yet.
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