Romney Campaign Press Release - It Didn't Work: Declining Wages & Incomes

"President Obama just hasn't made life better for struggling middle-class families. Wages and incomes are down, while Americans are paying more for health care, gasoline, and even college tuition. After three and a half years, it's clear the Obama economy hasn't worked for those who needed the most help. From Day One, Mitt Romney will implement pro-growth policies that get the middle class back on its feet." — Andrea Saul, Romney Campaign Spokesperson

Last Week, President Obama Claimed His Economic Policies Have "Worked":

President Obama: "We Tried Our Plan -- And It Worked." OBAMA: "Just like we've tried their plan, we tried our plan — and it worked. That's the difference. That's the choice in this election. That's why I'm running for a second term." (President Barack Obama, Remarks, Oakland, CA, 7/23/12)

But President Obama's Policies Haven't "Worked" — His Policies Have Left Middle-Class Families Struggling With Lower Wages And Incomes:

Since President Obama Took Office, Median Household Income Has Declined More Than $4,000. "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)

Average Weekly Wages Declined In 2011, "One Of Only Five Declines Since The Category Was Created In 1978." "Unemployment ebbs and flows, but one measure of the nation's economic health, average weekly wages, rarely dips. Until now. In the latest demonstration of the struggling economy that threatens President Obama's reelection, average weekly wages fell in 2011, one of only five declines since the category was created in 1978 by the Bureau of Labor Statistics." (Paul Bedard, "Wages Drop, Only 5th Time In 33 Years," The Washington Examiner, 7/2/12)

"BLS Found That Weekly Wages Dropped Over The Year By 1.7 Percent..." "In a just-released review of employment in the nation's largest 322 counties, BLS found that weekly wages dropped over the year by 1.7 percent to $955 in the fourth quarter of 2011 from a high of $971 in the fourth quarter of 2010." (Paul Bedard, "Wages Drop, Only 5th Time In 33 Years," The Washington Examiner, 7/2/12)

And While Wages And Incomes Are Declining, Middle-Class Families Are Being Squeezed By The Obama Economy:

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)

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)

Nearly Half Of Americans Live "In A Household Where At Least One Member Received Some Type Of Government Benefit." "49.1%: Percent of the population that lives in a household where at least one member received some type of government benefit in the first quarter of 2011. Cutting government spending is no easy task, and it's made more complicated by recent Census Bureau data showing that nearly half of the people in the U.S. live in a household that receives at least one government benefit, and many likely received more than one." (Phil Izzo, "Number Of The Week: Half Of U.S. Lives In Household Getting Benefits," The Wall Street Journal, 5/26/12)

Under President Obama, Family Health Care Premiums Have Increased $2,393 During President Obama's First Three Years In Office. (Kaiser Family Foundation, 2011)

Under President Obama, Gas Prices Have Increased From $1.85 Per Gallon To 3.51 Per Gallon. (U.S. Energy Information Agency, 8/1/12)

• USA Today Headline: "Gas Prices Up 17 Cents In Biggest July Jump Since 2000" (USA Today, 7/31/12)

Since President Obama Took Office, The Average Cost Of College Has Increased By 25% At Four-Year Public Schools Across The Country. ("Trends In College Pricing," College Board, 2011)