Ted Cruz: 'Reality' is that GOP helps 'hurting' people and Democrats are party of 'the top 1 percent'

Sen. Ted Cruz (R-TX) suggested on Sunday that Democrats will lose the 2016 presidential race because they are the party of the “top 1 percent,” and that Republicans are the party of “hard working” people.

During an interview with ABC News, host George Stephanopolous pointed out to Cruz that the U.S. economy had created over a million jobs in the last three months, setting a 17-year record.

"What does that do to your party's strategy going forward into 2016?" Stephanopolous wondered, adding that GOP economic advisor Kevin Hassett even argued that Hillary Clinton could run on the slogan: "Republicans gave us a crappy economy twice and we fixed it twice."

"Look, if Hillary Clinton wants to run by telling Americans that the economy is doing great and that you can credit President Obama and Hillary Clinton for that, I would encourage her to follow that strategy," Cruz replied. "Because the simple reality is that's true for the wealthy."

"The top 1 percent under President Obama, the millionaires and billionaires that he constantly demagogues, earn a higher share of our income than any year since 1928," he continued. "Those with power and influence, who walk the corridors of power of the Obama administration, have gotten fat and happy under big government."

"But I'll tell you, hard working men and women across America are hurting."

After taking over all of Congress in January, one of the first bills passed by the GOP-controlled House would loosen about a dozen financial regulations on big banks that were imposed by the 2010 Dodd-Frank law after the 2008 economic collapse.

Watch the video below from ABC's This Week, broadcast Feb. 8, 2015.