GOP: Obama inherited bad economy

President Barack Obama "inherited a weak economy" from a Republican administration, but isn't making it better, Sen. Pat Toomey, R-Pa., said Saturday. In the party's weekly media address, Toomey said the president's Democratic strategies had made a bad situation worse. "President Obama inherited a weak economy, but by nearly every measure, he has made the economy worse," Toomey said. "Over two years ago, his administration told us that passing his $787 billion stimulus bill would keep unemployment below 8 percent. "Instead, since the stimulus was enacted, our economy has lost more than 1.3 million jobs and the unemployment rate has averaged over 9 percent." Toomey is one of three Republican senators in a so-called super committee evenly divided by party, charged with devising an economic plan for the United States to cut $1.5 billion from the federal budget and control national debt. There are six senators and six House members on the committee, which is to present a plan to Congress in the fall. Under last-minute legislation earlier this month, default spending cuts will kick in if the committee's recommendations aren't approved. Toomey, a freshman to the upper chamber, said he was "very optimistic" about a turnaround. "Americans are still the hardest working, most industrious, and innovative, most entrepreneurial people in the world," he said.