January 21, 2010


Washington (CNN) - President Barack Obama slammed the Supreme Court's ruling loosening restrictions on corporate spending in federal elections Thursday, saying it "gives the special interests and their lobbyists even more power in Washington - while undermining the influence of average Americans who make small contributions to support their preferred candidates."

Obama issued a statement saying he is telling his administration "to get to work immediately with Congress on this issue. We are going to talk with bipartisan congressional leaders to develop a forceful response to this
decision. The public interest requires nothing less."

His statement came hours after the 5-4 high court ruling.

"The Supreme Court has given a green light to a new stampede of special interest money in our politics," Obama said. "It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans."