Romney Campaign Press Release - Barack In Time: When Obama Opposed Creating A Prairie Fire Of Debt

"After four years of promises and disappointment, President Obama has unleashed a prairie fire of debt that the next generation will be forced to repay. Under the President's failed economic policies, every man, woman, and child owes an additional $16,000 and it will only increase if President Obama gets another four years in office. It's time for a change in leadership — and a new president who will stop passing our bills on to the next generation." — Amanda Henneberg, Romney Campaign Spokesperson

Four Years Ago Today, Candidate Obama Promised To Not Mortgage "Our Children's Future" On A "Mountain Of Debt":

Candidate Obama, Four Years Ago Today: "I Don't Want To See That ... Our Children's Future Was Mortgaged On Another Mountain Of Debt ... This Election Is Our Chance To Stand Up And Say: Enough Is Enough!" OBAMA: "I don't want to wake up in four years to find that more Americans fell out of the middle-class, and more families lost their savings. I don't want to see that our country failed to invest in our ability to compete, our children's future was mortgaged on another mountain of debt, and our financial markets failed to find a firmer footing. This time - this election - is our chance to stand up and say: enough is enough!" (Senator Barack Obama, Remarks, Espanola, NM, 9/18/08)

But Instead Of Saying "Enough Is Enough," President Obama Unleashed A Prairie Fire Of Debt That The Next Generation Will Be Forced To Repay:

Under President Obama, The National Debt Has Surpassed $16 Trillion — An Increase Of More Than $5.4 Trillion. (Department Of The Treasury, Accessed 9/17/12)

• Every American's Share Of The National Debt Currently Stands At Over $51,000 — An Increase Of Over $16,000 Under President Obama. (Department Of The Treasury, Accessed 9/17/12; U.S. Census Bureau, Accessed 9/17/12)

The Current Debt-To-GDP Ratio Is "More Than 100%." "That brought the ratio of debt to GDP to more than 100%. The Congressional Budget Office estimated last month the budget deficit for the 2012 fiscal year, which ends Sept. 30, will be about $1.1 trillion." (Jim Puzzanghera, "Moody's Warns Of U.S. Credit Rating Cut If Debt Problems Continue," Los Angeles Times, 9/11/12)

Last Week, The Nonpartisan CBO Reported The Deficit For 2012 Officially Exceeded $1 Trillion. "The nonpartisan Congressional Budget Office reported Monday that the 2012 budget deficit through August stands at $1.17 trillion." (Erik Wasson, "CBO Says 2012 Deficit Has Reached $1.17T," The Hill, 9/10/12)

• "The Fourth Straight Year That The Deficit Will Exceed One Trillion Dollars, All Under President Obama." "It estimated that $192 billion was added to the deficit in August, crossing the symbolically important trillion-dollar threshold. This is the fourth straight year that the deficit will exceed one trillion dollars, all under President Obama. The deficit in 2008 was $459 billion." (Erik Wasson, "CBO Says 2012 Deficit Has Reached $1.17T," The Hill, 9/10/12)

"The $192 Billion Deficit Was The Worst August On Record..." "The $192 billion deficit was the worst August on record, though the total deficit so far this year is actually lower than it was in 2011, when it stood at $1.23 trillion after 11 months." (Stephen Dinan, "Budget Deficit Tops $1 Trillion For Fourth Time," The Washington Times, 9/10/12)

President Obama Is Responsible For "The Most Rapid Increase In The Debt Under Any U.S. President." "The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president." (Mark Knoller, "National Debt Has Increased $4 Trillion Under Obama," CBS News, 8/22/11)