Republicans, Obama continue back-and-forth on policies

The Obama administration and Congress are "fueling" the nation's growing federal debt, House Minority Whip Eric Cantor (R-Va.) said Wednesday in response to a White House speech.

"The president gives a good speech, but good speeches can't improve failing policies," Cantor said about President Barack Obama's remarks Wednesday at Carnegie Mellon University in Pittsburgh. 

"Out-of-control spending" and expanding government are at the root of the nation's inability to grow the economy and get the nation back on a disciplined fiscal track, he said. 

"All of these factors are suffocating long-term economic growth, and instead of fixing these problems, the Obama administration keeps fueling them in tandem with the Congress," Cantor said. 

During Wednesday's speech, Obama blamed Republican policies such as tax cuts for the wealthy that weren't paid for, weakened regulations and an inability to slow spending for the $1.3 trillion debt he inherited when he took office. He also said Republicans are harping on the same arguments that haven't worked during the past decade. 

Instead, Cantor said Congress needs to change its tune and "to put America back on the road to long-term growth and prosperity" will require cutting government spending and growing the private sector, he said.