POLITICS
05/03/2009 05:12 am ET Updated May 25, 2011

Cantor: Dems "Overreacting" To The Economic Crisis

Rep. Eric Cantor, the no. 2 Republican in the House, suggested Thursday that Democrats are "overreacting" to the economic crisis:

The Virginia Republican, speaking to reporters at the Christian Science Monitor breakfast Thursday morning, praised Rush Limbaugh for his "ideas" and for avoiding the Democratic error of "overreacting, if you will, which this town often does, to crisis... Rahm Emanuel said, 'We're not going to miss the opportunity to take advantage of this crisis because we're going to do all the things we couldn't get done before."

He went on to criticize Treasury Secretary Tim Geithner's recent statement that the biggest danger was "doing too little" to deal with the meltdown.

"Doing too much has huge, huge pitfalls as well," he said.

The Democratic National Committee reacted with guns blazing. Spokesman Hari Sevugan fired off this message to reporters: "On the day we learned that jobless claims rose to their highest levels in 26 years, Eric Cantor's charge that anyone is 'overreacting' to this economic crisis typifies the Republican just say 'NO' approach. Whether it's because they are simply out of touch with the pain American families are feeling, or they understand but are choosing to play politics instead, the lack of urgency shown by the Republican party at this time of crisis is appalling."

The Plum Line's Greg Sargent found audio:

Here's Cantor's full quote:

"As far as Rush, Rush has got ideas. He's got following. He believes in the conservative principles that many of us believe in - of lower taxes, of making sure that we turn back towards a focus on entrepreneurialism in this country, to promoting innovation and not stamping that out by overreacting, if you will, which this town often does, to crisis and that we know -- Rahm Emanuel said we are not going to miss the opportunity to take advantage of this crisis cause we are going to do all the things we couldn't get done before. I think I would say it is not about individual. This country is looking for the ideas that will provide the solutions so they know their kids will be left with a better America. It is about the dream of those kids and what they can grow up to be. And the policies that we put in place today will directly impact that."

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