Ted Cruz: Obama Economy Only Helping ‘The Top 1 Percent’

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February 8, 2015 1:39 pm
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Sen. Ted Cruz (R-TX) on Sunday blasted President Obama’s economic policy, claiming that the economy has only improved for the rich.

ABC’s George Stephanopoulos asked Cruz what he would say to potential 2016 nominee Hillary Clinton if she claimed Democrats fixed an economy destroyed by Republicans.

“Well, look, if Hillary Clinton wants to run by telling Americans that the economy is doing great and you can credit President Obama and Hillary Clinton for that, I would encourage her to follow that strategy. Because the simple reality is, that’s true for the wealthy,” Cruz responded on ABC’s “This Week.”

“The top 1 percent under President Obama, the millionaires and billionaires that he constantly demagogued, earned a higher share for our income than any year since 1928,” he continued. “Those with power and influence who walk the corridors of power of the Obama administration have gotten fat and happy under big government.”

Cruz said that the middle class has not seen the same boost as the rich.

“Hardworking men and women across America are hurting,” he said. “I’m glad President Obama and Hillary Clinton have discovered income inequality because it’s increased dramatically under their failed policies.”

Cruz’s claims echoed Senate Majority Leader Mitch McConnell (R-KY), who said last weekend that the economic recovery touted by Obama has only helped the wealthy.

“Look, things are getting better. But the point is, who is benefiting from this?” McConnell said. “The so-called 1 percent that the president is always talking about have done quite well.”

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