Press Release - Jindal: Obama Policies Will Crash the Economy
Ottumwa, Iowa - Campaigning in the first in the nation caucus state, Governor Bobby Jindal will today tell voters that blame for stock losses lies squarely with President Obama and that his policies will eventually crash the American economy.
While we were sleeping, the global stock market plunged. The Chinese market dropped 8% overnight, leading to the Dow and S&P 500 falling 5% and Nasdaq falling 8% within the first few minutes of opening this morning. European markets were down 4% by early afternoon their time.
Governor Jindal will say:
"By increasing taxes and creating new entitlements when we can't afford the ones we've got, the Obama administration has structurally weakened our economy. Flooding the markets with printed dollar bills is a recipe for short term gains, followed by volatility and losses.
"While there are always ups and downs in the markets, Obama's policies will crash our economy; it's only a matter of time.
"The Obama economy is a house of cards built on sand, with anemic growth and record numbers of Americans not even in the work force. If we don't change course, our economy will eventually crumble, it's basic math.
"Why? It's because we've doubled our national debt, increased our taxes, and massively grown the size of the federal government.
"We cannot grow the government economy and the American economy at the same time. You have to choose. Obama and Clinton chose the government economy, I choose the American economy.
Governor Jindal will also tell voters what he will do as President to right the course of our economy:
"I will do four things to undo the damage done by the Obama economy:
- Lower individual rates;
- Lower corporate tax rates;
- Fire the EPA and let America become the world's superpower on energy; and
Shrink the federal government - not slow the rate of growth, but actually cut it in real terms.
"I'm the only one who has done it. The other 8 governors running all say they will shrink government as President, but they didn't do it as Governor, and it's even harder as President. It is naïve and absurd to believe that people who failed to cut government as Governor will somehow magically do it as President. I did it, they did not. I will, they will not.
"We cannot choose between Hillary Clinton continuing the Obama economy and a Republican who will just be a cheaper version of the Democrats. We need to nominate a true economic conservative."
Bobby Jindal, Press Release - Jindal: Obama Policies Will Crash the Economy Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/311715