Warren Torches GOP On Economy: We Tried It, It Was ‘Nearly Catastrophic’

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November 19, 2014 3:42 p.m.

Sen. Elizabeth Warren (D-MA) went straight after Republicans, blasting the GOP on deregulation and trickle down economics during a Center for American Progress event on Wednesday.

“The Republicans have a pretty simple philosophy: they say if those at the top have more — more power for Wall Street players to do whatever they want and more money for tax cuts than somehow they can be counted on to build the economy for everyone else,” Warren said. “Well, we tried it for 30 years and it didn’t work. In fact the consequences were nearly catastrophic.”

Warren did allude to the 2014 elections where Republicans replaced Democrats not only in key Senate races but governors mansions and statehouses, but she stressed that didn’t mean Republican calls for deregulation should be taken seriously now.

Warren also reused her regularly repeated line that the American economy is “rigged” in favor of the wealthy.

“We tested the Republican ideas and they failed, they failed spectacularly. There’s no denying that fact,” Warren said. “We know the importance of accountability on Wall Street —the benefits of having a better educated work force. The advantages that come from investments of high speed rail and medical research.”

The senator from Massachusetts, near the end, interestingly, did also seem to suggest there should be some introspection in the Democratic party.

“People across this country get it. Sure, there’s a lot of work to be done and there’s a long way to go before Democrats can reclaim the right to say that we’re fighting for America’s working people, that we’re fighting to build a future not just for some of our children but for all of our children,” Warren said. “No, we’re not there yet but don’t forget the good news. Our agenda is America’s agenda.”

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