Talk Radio News Service: News, Politics, Media

Travis Martinez, University of New Mexico/Talk Radio News Service

House Minority Whip Eric Cantor (R-VA) told reporters at a press conference Tuesday that President Barack Obama and Congressional Democrats cannot stimulate the economy through spending alone.

“[I] absolutely disagree that we can spend our way out of recession...You can’t spend money that we don’t have and keep doing it,” said Cantor. “We can do something to reinvigorate the confidence of investors.”

The press conference was in direct response to Obama’s remarks earlier today at the Brookings Institute. Obama proposed new growth solutions with tax cuts and incentives for small businesses and continued investment in American infrastructure.

"Ensuring that economic growth and job creation are strong and sustained is critical to ensuring that we are increasing revenues and decreasing spending on things like unemployment so that our deficits will start coming down," Obama said.

Cantor refereed to his “No-costs jobs plan,” that he introduced last week during a discussion at the Heritage Foundation. Cantor’s plan proposes the Obama administration rescind self-imposed obstacles to economic growth and wealth creation by eliminating small business rules and regulations that have been detrimental for growth.

“We’ve got a lot of uncertainty out there right now that is inhibiting investors from getting back into the game. Obviously the White House is listening to the American people. Although the speeches are nice and the rhetoric about wanting to get Americans back to work are nice, the real question is ... 'what are they going to do,'” said Cantor.