In his weekly radio and Internet address, the President says House Republican leader John Boehner's plan will take the country "backward at a time when we need to keep America moving forward."
Boehner shot back, saying Obama is attacking the GOP plan because he can't sell his own.
Days after imposing new regulations on the financial industry, President Obama also previewed one of the arguments he'll be making as he campaigns for congressional Democrats heading into the midterm elections.
He says the new law is a "key pillar" of his overall economic plan to reverse the recession.
The President Obama says things are headed in the right direction but acknowledged that the economic growth on his watch isn't nearly enough to replace millions of lost jobs.
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