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Romney Campaign Press Release - President Obama's Failed Proposition

June 13, 2012

"For more than three years, President Obama has said it was his responsibility to get our economy back on track. Now that he's been unable to deliver on that promise, he's trying to hit the reset button and claim Americans are 'doing fine.' On Day One, Mitt Romney will take immediate action to help the millions of Americans who are not 'doing fine' in the Obama economy." –Andrea Saul, Romney Campaign Spokesperson

In 2009, President Obama Took Responsibility For The Economy And Claimed He Would Face A "One-Term Proposition" If He Failed To Turn It Around:

President Obama, In February 2009: "If I Don't Have This Done In Three Years, Then There's Going To Be A One-Term Proposition." OBAMA: "That's exactly right. And — and, you know, a year from now I think people — are going to see that — we're starting to make some progress. But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition." (NBC's "The Today Show," 2/2/09)

President Obama, On Taking Responsibility For The Economy In 2009: "That's Fine. Give It To Me." OBAMA: "Now, my administration has a job to do, as well, and that job is to get this economy back on its feet. That's my job. And it's a job I gladly accept. I love these folks who helped get us in this mess and then suddenly say, well, this is Obama's economy. That's fine. Give it to me. My job is to solve problems, not to stand on the sidelines and harp and gripe." (President Barack Obama, Remarks, Warren, MI, 7/14/09)

  • The Associated Press: "With Four Simple Words — 'Give It To Me!' — President Barack Obama Took Possession Of The Economy." (Jim Kuhnehenn, "Give It To Me! Obama Takes Charge Of Economy," The Associated Press, 7/15/09)

But More Than Three Years Later, President Obama Is Hitting The Reset Button By Asking For More Time On The Economy:

On Thursday, President Obama Will Deliver An Economy Speech That Is "Not Likely To Unveil New Ideas" And Will Not Create New Jobs. "So far, President Barack Obama has not been able to convince most Americans that they are better off than they were four years ago. ... In an economic speech on Thursday that could set the tone for months of campaigning, Obama is not likely to unveil new ideas to boost the economy and create new jobs, according to Democrats familiar with the preparations for the address." (Andy Sullivan and Caren Bohan, "Analysis: Obama's Gamble: Asking For More Time To Fix Economy," Reuters, 6/13/12)

President Obama's Ohio Speech Will Attempt To "Re-Frame The Economic Debate." "President Obama is expected to give his first public, campaign policy speech on Thursday in Cleveland, Ohio when he will seek to re-frame the economic debate between him and Romney, while speaking broadly about his plans to boost jobs and the middle class." (Devin Dwyer, "Did He Get The Memo? Obama Sticks To Script On Stump," ABC News, 6/12/12)

"So Far, President Barack Obama Has Not Been Able To Convince Most Americans That They Are Better Off Than They Were Four Years Ago." (Andy Sullivan and Caren Bohan, "Obama's Gamble: Asking For More Time To Fix Economy," Reuters, 6/13/12)

Why Is President Obama Trying To Hit The Reset Button? Because Millions Of Middle-Class Americans Aren't "Doing Fine" In The Obama Economy:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 6/4/12)

Since President Obama Took Office, Median Household Income Has Declined By $4,300. "Yet real median household income in March was down $4,300 since Obama took office in January 2009 and down $2,900 since the June 2009 start of the economic recovery, according to an analysis of census data by Sentier Research, an economic- consulting firm in Annapolis, Maryland." (Mike Dorning, "Obama Fails To Stem Middle-Class Slide He Blamed On Bush," Bloomberg, 4/30/12)

Median Family Net Worth Has Hit A Two-Decade Low. "The Great Recession shrank Americans' wealth so much that in 2010 median family net worth was no more than it had been in 1992 after adjusting for inflation, the Federal Reserve reported Monday. Median net worth declined from $126,400 in 2007 to $77,300 in 2010, a Fed survey of family finances found. The median marks the point where half had more and half had less." (Martin Crutsinger, "Fed Report: Middle Class Net Worth Tumbles," The Associated Press, 6/12/12)

Under President Obama, Gas Prices Have Nearly Doubled From The Nationwide Average Of $1.85 Per Gallon When He Was Sworn Into Office To $3.57 Per Gallon Today. (U.S. Energy Information Administration, www.eia.gov, Accessed 6/12/12)

Nearly 16 Million Homeowners Are Underwater On Their Mortgages. "Despite rising home prices, more than 30% of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to Zillow. The percentage of borrowers who owed more on their home than it was worth increased to 31.4% during the quarter, up slightly from 31.1% three months earlier, according to Zillow." (Les Christie, "More Than 30% Of Mortgage Borrowers Still Underwater," CNN Money, 5/24/12)

Obamacare Has Made Health Care "Less Affordable" And Has Caused "Insurance Premiums To Rise." "At the moment, the new law is making health care slightly less affordable. Independent health care experts say the law has caused some insurance premiums to rise. As we wrote in October, the new law has caused about a 1 percent to 3 percent increase in health insurance premiums for employer-sponsored family plans because of requirements for increased benefits. Last year's premium increases cast even more doubt on another promise the president has made - that the health care law would 'lower premiums by up to $2,500 for a typical family per year.'" (D'Angelo Gore, "Promises, Promises," FactCheck.org, 1/4/12)

Mitt Romney, Romney Campaign Press Release - President Obama's Failed Proposition Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/301366

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