As Isaac Hits Gulf Coast, Obama Jokes That GOP Believes Jobs 'Will Magically Rain Down'

By Melanie Arter | August 29, 2012 | 9:45 AM EDT

President Obama at Iowa State, Aug. 28, 2012. (AP Photo/Pablo Martinez Monsivais)

( – Campaigning at Iowa State University on Tuesday, as Hurricane Isaac was about to hit the Gulf Coast, a jocular President Barack Obama took a jab at Republicans whom he said believe that jobs will "magically rain down on everybody else" if people making $3 million per year and more are given a tax cut.

“This week in Tampa, my opponents will offer you their agenda,” the president said. “It should be a pretty entertaining show. It will be. And I’m sure they’ll have some wonderful things to say about me.

If the player does not load, please check that you are running the latest version of Adobe Flash Player.

“But what you won’t hear from them is a path forward that meets the challenges of our time. Instead, it will be an economic plan that says if you just give folks making $3 million or more a year another $250,000 tax cut, then jobs and prosperity will magically rain down on everybody else,” Obama said.

Isaac made landfall on the Gulf Coast at 7:45pm Tuesday with 80 mph winds, making it a Category 1 hurricane.

When Obama took office in January 2009, that national unemployment rate was 7.8 percent, according to the Bureau of Labor Statistics. The next month, it rose to 8.3 percent. Since then, it has stayed above 8 percent for 42 straight months, and is currently at 8.3 percent.