Newt Gingrich: 'This Is The Obama Depression'

Newt doesn't have stand a chance in hell of winning the GOP nomination next year. but this kind of straight-laced talk about an incompetent President is what Republican candidates need to do more of:

Republican presidential candidate Newt Gingrich on Sunday labeled the dismal economic situation in the United States as the “Obama depression,” just days after a grim jobs report and amid continued signs that negotiations on a comprehensive federal debt deal are faltering.


“At 9.2 percent [unemployment] now for month, after month, after month, this is the Obama depression,” Gingrich said on “Fox & Friends” Sunday morning. “Housing prices have dropped deeper than in the Great Depression and it’s very clear that under [President Barack] Obama’s job-killing policies, we’re not going to get out of this deep unemployment.”


The former speaker of the House praised his successor, John Boehner, for making the decision that Republicans will reject tax increases in any deal to increase the debt limit. Boehner announced late Saturday night that Republicans would not pursue a $4 trillion, 10-year deficit reduction package. Instead, the GOP focus will be on a $2 trillion deal.


“Republicans are correct to say first of all, no tax increase -- period. John Boehner was right. He deserves credit for recognizing that the right position for conservatives is no tax increase. Second, they ought to get the biggest spending cut deal they can by taking what Vice President [Joe] Biden put on the table,” Gingrich said. “I think the largest deal possible with no tax increases is fine.”


In a National Review op-ed Friday, Gingrich wrote, “Republicans should reject the establishment's demand for a tax increase. There is plenty of money to be saved from a bloated government without giving Washington one penny of higher taxes."