House Minority Whip Eric CantorEric Ivan CantorGOP sees McCarthy moving up — if GOP loses the House Feehery: The governing party 'Release the memo' — let's stop pretending that Democrats are the defenders of the FBI MORE (R-Va.) leveled the GOP's most pointed criticism of President Obama's stimulus package on Saturday, saying the president has broken his promise to spur the economy.

Delivering the weekly Republican radio and internet address, Cantor said Obama's $787 billion economic stimulus package has failed.

"There is no doubt that our nation faces many challenges, but the plain truth is that President Obama's economic decisions have not produced jobs, have not produced prosperity, and have not worked," Cantor said. "President Obama has already asked you to borrow trillions, and so far nearly 3 million jobs have been lost this year alone."

"Simply put," he added, "this is now President Obama's economy and the American people are beginning to question whether his policies are working."

Cantor has been criticizing the stimulus all week as Republicans have stepped up their attacks since the Labor Department's June employment report showed another 467,000 jobs were lost last month.

Cantor said the rising unemployment numbers are another sign the administration doesn't have a grip on the economy.

"Remember the promises?" he asked. "They promised you if you paid for their stimulus, jobs would be created immediately. In fact, they said that unemployment would stay under eight percent. Yet just months later, they are telling us to brace for unemployment to climb over ten percent. They promised jobs created. Now they scramble to find a way to play games with government numbers by claiming jobs saved."

Cantor said congressional Republicans are fighting to introduce policies that will help the economy.

Most Americans, Cantor went on, are working to get out of debt and provide for their families.

"Their reward?" he asked. "Trillions more in debt. For the 'stimulus' alone, Washington borrowed nearly ten thousand dollars from every American household. Let me ask you: do you feel $10,000 richer today? Do you feel $10,000 better off? If you don't, please know most people agree."