Romney Campaign Press Release - President Obama's Middle-Class Promise Gap On Unemployment

"When President Obama first took office, he promised that his stimulus would help rescue the economy. He even commissioned a report that showed it would lower the unemployment rate to 5.6% by mid-2012, saying it showed 'exactly' what the plan would mean for America. By his own standard, President Obama has failed — and middle-class families have suffered the consequences. If President Obama had kept his promise, over 8 million more Americans would have jobs today. Unlike President Obama, Mitt Romney has a pro-growth plan to finally get our economy back on the right track." —Andrea Saul, Romney Campaign Spokesperson

President Obama's Middle-Class Promise Gap Has Meant Over 8 Million Fewer Americans Working Than Promised:

Before Taking Office, President Obama's Advisers Predicted The Stimulus Would Lower Unemployment To 5.6% Today — But It's Remained Above 8% For 40 Straight Months. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

• President Obama, On His Advisers' Stimulus Predictions: "The American People Can See Exactly What This Plan Will Mean For Their Families, Their Communities, And Our Economy." OBAMA: "I asked my nominee for Chair of the Council of Economic Advisers, Dr. Christina Romer, and the Vice President-Elect's Chief Economic Adviser, Dr. Jared Bernstein, to conduct a rigorous analysis of this plan and come up with projections of how many jobs it will create — and what kind of jobs they will be. Today, I am releasing a report of their findings so that the American people can see exactly what this plan will mean for their families, their communities, and our economy." (President-Elect Barack Obama, The President Elect's Radio Address, 1/10/09)

Vice President Biden, On The Stimulus In February 2009: "Literally Drop-Kicks Us Out Of This Recession And We Begin To Grow Again..." VICE PRESIDENT BIDEN: "This is a monumental project, but I think it's doable. But I just think we got to stay on top of it and we got to stay on top of it on a weekly basis. Because this is about getting this out and spent in 18 months to create 3.5 million jobs and do — to set — tee this up so the rest of the good work that's being done here literally drop-kicks us out of this recession and we begin to grow again and begin to grow again." (Vice President Joe Biden, Remarks, Washington D.C., 2/25/09)

If President Obama Had Kept His Promise And Lowered The Unemployment Rate To 5.6%, 8.4 Million More Americans Would Be Working Today. (Jobs Calculator, Federal Reserve Bank of Atlanta, Accessed 7/2/12)

Instead Of 8 Million New Jobs, More Than 23 Million Americans Are Still Struggling For Work 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)

Under President Obama, The Nation Has Lost 552,000 Jobs. (Bureau Of Labor Statistics, www.bls.gov, 6/4/12)

The Current Number Of Long-Term Unemployed Americans Is "Staggering" With "The Average Length Of Time The Unemployed Have Spent Out Of Work" Climbing Steadily Higher. "The numbers are staggering. The ranks of the long-term unemployed swelled last month from 5.1 million to 5.4 million, and those individuals now account for 42.8% of the unemployed. Meanwhile, the average length of time the unemployed have spent out of work has climbed steadily higher -- and older Americans have been the hardest hit." (Charles Riley, "Long-Term Unemployment Crisis Rolls On," CNN Money, 6/11/12)

In May, "The Nation's Jobs Picture Dimmed" With Unemployment Increasing To 8.2%. "The nation's jobs picture dimmed in May as employers added just 69,000 jobs and the unemployment rate ticked up to 8.2 percent, a continuation of a long, slow employment recovery that began 33 months ago." (Susanna Kim, "May Unemployment Rises To 8.2 Pct.," ABC News, 6/1/12)