During a speech in Iowa City, IA today, without referencing Akin specifically, President Obama misquoted Congressman Akin on student loans, alleging that Akin compared student loans to a stage three cancer of socialism. Congressman Akin released the following statement in response:
"With all due respect, the President misquoted me. I was not saying that student loans are a cancer. I referred to the policies where there is a government takeover of private industries.
"This is most evident in the government takeover of U.S. healthcare, the government takeover of student loans and the government's attempts to shut down U.S. energy.
"I suspect the President was given a misquotation of what I actually said, but I am sure we have a fundamental disagreement on the role of government and what constitutes socialism regarding current public policy."