"Rep. McCotter complains that Obama ‘demonizes’ Wall Street and insurance companies."
Last week on the House floor, Rep. Thaddeus McCotter (R-MI) attacked President Obama the day he signed the Affordable Care Act into law. “So this is what change looks like?” McCotter asked. “President Obama’s campaign mantra of hope and change has degenerated into tax and hate.” In a new interview with Real Clear Politics, McCotter explains that he made the claim because he’s upset that the President is taking on Wall Street and the insurance companies:
RCP: On Tuesday you said some things on the House floor that I want to ask you to defend. The first is your statement that “Obama’s campaign mantra of hope and change has degenerated into tax and hate.”
McCOTTER: Yeah. Look at how he demonizes oppositions, look what he’s done to insurance companies, look what he does to Wall Street, look at the end result. It’s to impose a tax, it’s to get his agenda passed. That’s things that Bush was accused of and I think it’s quite manifest in what he’s been doing to try to get his agenda through.
At least McCotter is staying consistent with the GOP line in siding with big business. House Minority Leader John Boehner (R-OH) urged bankers to stand up against “little punk staffers” on Capitol Hill trying to implement new Wall Street regulations. And Sen. Richard Shelby (R-AL) recently railed against new regulation, saying banks’ profits “trump the consumer finance whatever” — a reference to the proposed Consumer Financial Protection Agency. However, it seems that the GOP is out of step with Americans on these issues, as large majorities said in recent polls that they have an unfavorable view of Wall Street and “believe Congress and the President need to reform our financial system now.”