House Republican Whip Eric Cantor (R-VA) today issued the following statement after President Obama announced a plan to penalize America's financial institutions:
"The President's announcement today will only create more uncertainty in the economy, which is difficult to understand with news that far more Americans than expected filed jobless claims in January and with unemployment remaining in double digits.
"Make no mistake, financial institutions should pay back every penny borrowed from the taxpayer, but Mr. President, what about the hundreds of billions of bailout dollars that Fannie Mae and Freddie Mac took from American families? Why are dollars that Fannie Mae and Freddie Mac took from the taxpayer less important, especially considering their central role in the mortgage market meltdown?
"To be clear, the President's proposal will do nothing to help put Americans back to work or help small businesses hire more workers, but it will add to the environment of uncertainty that Democrats in Washington have created. Tens of millions of Americans are begging President Obama, Speaker Pelosi, and Harry Reid to stop the wild spending and focus on jobs and the economy, and it's shocking that following the election results in Virginia, New Jersey, and now Massachusetts, Democrats in Washington continue to ignore them."