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With the economic recovery showing signs of sputtering, Republicans are on the offensive with fresh ammunition to use against President Obama, whose 2012 re-election hopes likely hinge on how many Americans can find work in the next year.

A wave of bad economic news has surfaced this week: home prices hit their lowest level in nine years; jobless claims remain stuck at a level that signals weak job growth; manufacturing grew at the slowest pace in 20 months and businesses sharply cut spending in April on computers, machinery and other long-last goods. The monthly jobs report due Friday is expected to fall way short of expectations. Taken together, the data show the recovery is in serious jeopardy.

Mitt Romney, the nominal frontrunner in the GOP race, kicked off his first official day as a 2012 presidential candidate Thursday by declaring that Obama "has failed America."

On Thursday, White House spokesman Jay Carney objected to claims the economy was sputtering.

"We don't have a crystal ball," Carney told reporters in his daily briefing, adding that "the longer term trends are positive."

Republican leaders met with Obama face-to-face Wednesday over spending policy as a deadline to raise the nation's borrowing limit looms. Democrats were to follow up with their own presidential powwow on Thursday.

But the parties couldn't be further apart on how to create more jobs. The president and his party want to pump more money into the economy while Republicans want to slash federal spending.

House Majority Leader Eric Cantor, who is representing Republicans in the talks with the White House, told Fox News that one way to create jobs is to cap taxes at 25 percent on individuals and corporations, which would allow small businesses to grow.

"That's where the jobs come from," he said. "And in fact, it's the startup businesses so our job creators plan focuses on bringing tax rates down for people, putting incentives in place for them to put their money to work to create jobs. And that is something this administration has been somewhat resistant to go along with but in the end, that's what people want us to do. They want a better economy."

House Speaker John Boehner on Thursday said the White House is standing in the way of an economic rebound and that any increase in the nation's ability to borrow must be accompanied by an equal cut in spending.

"If the White House wants to get this done, it's time for them to step up to the plate and get serious about it. As we told the president and I think we've demonstrated to the American people we're ready to deal with the big challenges that face our country. I hope the president will join us soon."

But Carney shrugged off Boehner's suggestion that he and Obama negotiate directly over deficit reduction.

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Eric Cantor is right.  But Ireland has a corporate tax rate o 12.% ad thats the area I'd like to see us in.  We should slash our tax rates down to around 13% or so.  Business woud boom here!  Our own Treasury Dept has said Ireland raises more revenue with the smaller rate than we do wth our rate of 35%.  So what does that tell ya?  It tells me that when we stop restricting business in this country and allow it to thrive, we'll bring in more money and have more jobs as new businesses start up and begin to hire American workers.

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Originally Posted by Dennis Young:
Eric Cantor is right.  But Ireland has a corporate tax rate o 12.% ad thats the area I'd like to see us in.  We should slash our tax rates down to around 13% or so.  Business woud boom here!  Our own Treasury Dept has said Ireland raises more revenue with the smaller rate than we do wth our rate of 35%.  So what does that tell ya?  It tells me that when we stop restricting business in this country and allow it to thrive, we'll bring in more money and have more jobs as new businesses start up and begin to hire American workers.

I wouldn't model my economy after Ireland.

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Originally Posted by Bryant Platt:


I wouldn't model my economy after Ireland.

just like america, ireland doesn't have a revenues problem, it has a deficit spending problem