Obama Warns...Shutdown Has 'Slowed Our Growth'

Susan Jones | October 17, 2013 | 12:08pm EDT
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(CNSNews.com) - President Obama on Thursday suggested that if things go wrong in the next six months, the American people should blame Republicans -- not him or his policies.

"These last few weeks have inflicted completely unnecessary damage on our economy. We don't know yet the full scope of the damage, but every analyst out there believes it's slowed our growth."

The president talked about families going without  paychecks and delays in getting home mortgages and small business loans.

"We know that consumers have cut back on spending and that half of all CEOS say that the shutdown and the threat of shutdown set back their plans to hire over the next six months.

"We know that just the threat of default -- of America not paying all the bills that we owe, on time --  increased our borrowing costs, which adds to our deficit."

Obama said it's "no surprise" that the American people "are completely fed up with Washington."

"At a moment when our economic recovery demands more jobs, more momentum, we've got yet another self-inflicted crisis that set our economy back. And for what? There was no economic rationale for all of this."

Obama said the economy's been growing over the past four years, businesses have been creating jobs and deficits have been cut in half (from record high levels).

"We hear some members who pushed for the shutdown say they were doing it to save the American economy. But nothing has done more to undermine our economy these past three years than the kind of tactics that create these manufactured crises."

Obama  said conservative Republicans -- "the same folks who pushed for shutdown and threatened default" -- claim they did it to get the nation back on the right track: "But probably nothing has done more damage to America's credibility in the world -- our standing with other countries -- than the spectacle that we've seen these past several weeks."

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