Republican National Committee Chairman Reince Priebus called President Obama’s jobs speech an “absolute fraud,” on Fox News on Friday.
“My view of his speech was that it was an absolute fraud, and it was a fraud because he told the American people that everything was paid for in this bill,” Priebus said. “What he's proposing is spending yet even more money in a stimulus that, remember, didn't work the first time.” Priebus criticized Obama for asking Congress’ deficit-reduction super committee to figure out how to offset the $400 billion cost of the American Jobs Act.
National Economic Council director Gene Sperling said later on the same Fox program that it was “wrong” to accuse the President of passing the buck to the super committee.
“This is going to be paid for, every single penny,” Sperling said. He noted that Obama will reveal his own deficit-reduction plan on Sept. 19, and said that the president’s economic team has been working to figure out how to pay for the American Jobs Act while still meeting Congress's deficit-reduction commitments. He stressed that Obama's jobs plan is estimated to create 2 million jobs.
Sperling said that the president’s deficit-reduction plan “will include additional entitlement cuts." The plan “will include asking the most fortunate to pay more of their fair share," he said, noting that there is no expectation that taxes on the rich will be raised this year or the next.
In a separate appearance on MSNBC, Sperling said that a reduction in unemployment to 8% would be a "very sound estimate" of the American Jobs Act's impact.