PoolPresident Barack Obama isn't impressed by the GOP's "Pledge to America" plan which was unveile by House Republican Leader John Boehner (below) on Thursday.

SAUL LOEB

to America" Saturday as nothing but a plan to continue "disastrous" policies of the George W. Bush administration.

The pledge, which Republicans unveiled Thursday, aims to slash government spending and cut taxes, as well as repeal Obama's health care overhaul and economic stimulus program.

The pledge is "an echo of a disastrous decade we can't afford to relive," Obama said in his weekly Internet address.

"It is grounded in same worn-out philosophy: cut taxes for millionaires and billionaires; cut the rules for Wall Street and the special interests; and cut the middle class loose to fend for itself. That's not a prescription for a better future," Obama said.

Late Thursday, Senate Democrats delayed a vote on whether to extend Bush-era tax cuts or let them expire at the end of the year until after November's midterm elections.

Both Democrats and Republicans blamed each other for the political gridlock ahead of the pivotal election in which the GOP is expected to make major gains in both the House and Senate.

The plan's timing is reminiscent of the "Contract with America," which the GOP rolled out just weeks before 1994 midterm elections where the party took control of the House and held power until 2006.

In response to Obama's comments, Republicans shot back, calling their plan a "new agenda."

"It offers a new way forward that hasn't been tried in Washington - an approach focused on cutting spending - which is sadly a new idea for a Congress accustomed to always accelerating it," Rep. Kevin McCarthy (R-Calif.) said.

Read more: http://www.nydailynews.com/news/politics/2010/09/25/2010-09-25_president_obama_blasts_the_gops_pledge_to_america_as_a_wornout_philosophy.html#ixzz10Z3X6YI1