Speaking this afternoon to the National Association of Latino Elected and Appointed Officials in Orlando, Florida, President Obama stated that “in this country, prosperity has never come from the top down.”

“[Republicans] believe the best way to grow the economy is from the top down. So they want to roll back regulations, and give insurance companies and credit card companies and mortgage lenders even more power to do as they please. They want to spend $5 trillion on new tax cuts — including a 25-percent tax cut for every millionaire in the country. And they want to pay for it by raising middle-class taxes and gutting middle-class priorities like education and training and health care and medical research,” Obama said. “And that’s it. That’s it. That’s their economic plan. When they tell you they can do better, that’s their idea of doing better. When they tell you they know how to fix the economy, that’s exactly how they plan to do it. And I think they’re wrong. I think they’re wrong.”