Jul 24 2013

Shelby Reacts to Obama's Remarks on the Economy

Shelby Reacts to Obama's Remarks on the Economy

This administration has been about always about more taxes and more regulations. That’s not what creates jobs in this country. That’s not what brings foreign direct investment. My state of Alabama has benefited from foreign direct investment. Look at Airbus. The President has nothing to do with that. Not to my knowledge. We’ve got a good workforce. We’ve got a good engineering school in Mobile, Alabama. We have the right to work laws. What we need is structural reform, not more rhetoric. 

WASHINGTON, DC, Wednesday, July 24, 2013 – U.S. Senator Richard Shelby (R-Ala.), today discussed with CNN President Obama’s remarks on the economy.

The full, unofficial transcript of the interview is below:

To watch the interview, click here.

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BROOKE: Joining me now from Capitol Hill, Senate Republican Richard Shelby from Alabama. Senator, nice to see you. Welcome.

SHELBY: Thank you, Brooke.

BROOKE: The President very clearly challenged your party in this hour long speech. Challenged the republicans directly as we look ahead to the fall, to this inevitable fight over the debt ceiling. What’s your response to that?

SHELBY: Well, I think the President should challenge himself first. He’s got a record now in his fifth year of really no real job growth in this country. I don't believe -- we've heard most of the stale arguments that the President talked about today. We’ve heard it for five years. But there's got to be accountability. There are over 20 million people in this country unemployed or underemployed right now. The President's economic policies have failed. His health care policy is under attack and should be. His it's mostly taxes and regulation. Then he wants to know what's wrong with the economy. Then he makes a speech in Illinois. We’ve heard most of it before. I believe the American people can see through most of that.

BROOKE: As far as jobs in the President's tenure so far we know the economy was teetering right around when he was elected with the recession. It could have gone in one direction. The jobs have grown. The unemployment has improved. The President did say he will lay out ideas on jobs, on education, housing, retirement, you know, the American Dream. But he says he wants your ideas as well. Here he was.

OBAMA: What are your ideas? If you're willing to work with me to strengthen American manufacturing and rebuild this country's infrastructure, let's go. If you've got better ideas to bring down the cost of college for working families, let's hear them.

BROOKE: Senator Shelby, I just want to pose that same question to you. What are your ideas?

SHELBY: Well, my ideas, I think, are much better than the President's. And I have advocated structural tax reform in this country for a long time. And the President, I would think he would start listening. But he's not. He’s always saying, ‘Well, let's tax the people who do well.’ What we need is structural tax reform to create conditions for this country where people will invest so they'll have confidence in the country. Confidence in the tax system. Confidence in the regulatory system. This administration has been about always about more taxes and more regulations. That’s not what creates jobs in this country. That’s not what brings foreign direct investment. My state of Alabama has benefited from foreign direct investment. Look at Airbus. The President has nothing to do with that. Not to my knowledge. We’ve got a good workforce. We’ve got a good engineering school in Mobile, Alabama. We have the right to work laws. What we need is structural reform, not more rhetoric. That’s what the President is going around the country - he's a good politician. He’s talking what people want to hear. But he's not doing what needs to be done to create jobs.

BROOKE: Senator Richard Shelby, Republican from Alabama, appreciate it, Senator, very much.