Cantor stands by remarks on Obama, Putin

Rep. Eric I. Cantor, R-7th, is standing by remarks he made to The Associated Press yesterday comparing some of President Barack Obama’s economic policies to those of Russia’s prime minister and former president, Vladimir Putin.

In a brief telephone interview, Cantor, the No. 2 Republican in the House, said Obama’s policies are increasing uncertainty and raising the price of risk.

“And that deters the economy,“ said the Henrico County resident, who has become one of Obama’s leading critics. “When we witness the suspension of the law in favor of political interests, that is not the America we know,“ Cantor added.

“If we want to turn the economy around, we have to engender some confidence on the part of business.“
Cantor told The Associated Press that Obama’s plans for the auto industry are, in his words, “almost like looking at Putin’s Russia.“

Cantor says the normal rights of secured creditors have been taken away and given to political cronies and the autoworker unions.

The Obama administration says that the roughly $80 billion in federal aid to the car companies, their lending affiliates and their suppliers gives automakers a chance to become viable and competitive.