Romney Campaign Press Release - Four Years Later, America's Promise Isn't Better Off

"Barack Obama campaigned on a pledge to protect the 'American promise' for middle-class families. But President Obama's economic policies have only made life more difficult. Fewer people are working, unemployment remains unacceptably high, and America's security and jobs are threatened by the President's devastating defense cuts. As president, Mitt Romney will reverse this disastrous course by implementing policies that create 12 million new jobs and a safer and more prosperous future for the next generation." – Andrea Saul, Romney Campaign Spokesperson

Four Years Ago Today, Barack Obama Claimed The "Fundamental American Promise" Was At Risk:

Candidate Obama, Four Years Ago Today: "That Fundamental American Promise Is At Risk. ... More Americans Are Out Of Work, And Have Mortgages They Can't Pay..." OBAMA: "Today, that fundamental American promise is at risk. Our nation is at war and our economy is in turmoil. More Americans are out of work, and have mortgages they can't pay, and cars they can't afford to drive, and wonder how they'll ever afford to retire." (Senator Barack Obama, Remarks, Washington, DC, 9/10/08)

Candidate Obama: "This Election Is About The Families ... Losing Their Homes And Their Jobs, And Working Jobs That Pay Less..." OBAMA: "This election is about the families - including so many Latino families - who are losing their homes and their jobs, and working jobs that pay less and come with fewer benefits. They need us to solve this housing crisis, and end these tax breaks for companies shipping jobs overseas, and give real tax relief to middle class families. That's what I'll do as President." (Senator Barack Obama, Remarks, Washington, DC, 9/10/08)

But President Obama's Policies Have Further Jeopardized The American Promise – With Even More Americans Out Of Work And Fewer Good-Paying Jobs:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 9/10/12)

The Latest Jobs Report Showed The "Economy Slogged Along For The 43rd Month In A Row With Joblessness Above 8 Percent." "American employers added 96,000 jobs in August, the Labor Department reported Friday. The unemployment rate fell to 8.1 percent as the economy slogged along for the 43rd month in a row with joblessness above 8 percent." (Susanna Kim, "August Jobs Report: Unemployment Falls To 8.1 Percent," ABC News, 9/7/12)

Lower-Paying Jobs Account For Nearly 60% Of The Jobs Added Since The Recession Ended In 2009. "Lower-paying jobs, with median hourly wages from $7.69 to $13.83, accounted for just 21% of the job losses during the recession. But they've made up about 58% of the job growth from the end of the recession in late 2009 through early 2012." (Jim Puzzanghera, "Majority Of New Jobs In Recovery Are Low-Paying, Study Finds," Los Angeles Times, 8/31/12)

• "The Findings Highlight Concerns About A Shrinking Middle Class..." "The findings highlight concerns about a shrinking middle class and pose another obstacle to getting the economy back on track, said Annette Bernhardt, policy co-director at the National Employment Law Project, which conducted the study." (Jim Puzzanghera, "Majority Of New Jobs In Recovery Are Low-Paying, Study Finds," Los Angeles Times, 8/31/12)

The Majority Of New Jobs Created In President Obama's So-Called Recovery "Pay Much Less" Than Jobs Before The Recession. "Although six in 10 jobs lost during the Great Recession paid mid-level wages, the majority of new jobs created in the recovery -- positions such as store clerks, laborers and home healthcare aides -- pay much less, according to a new study." (Jim Puzzanghera, "Majority Of New Jobs In Recovery Are Low-Paying, Study Finds," Los Angeles Times, 8/31/12)

Since President Obama Took Office, Median Household Income Has Declined By Over $4,000. "In January 2009, the month President Obama entered the Oval Office and shortly before he signed his stimulus spending bill, median household income was $54,983. By June 2012, it had tumbled to $50,964, adjusted for inflation. (See the chart nearby.)  That's $4,019 in lost real income, a little less than a month's income every year." (Editorial, "Negative $4,019," The Wall Street Journal, 8/24/12)

"Almost Every Group Is Worse Off Than It Was Three Years Ago, And Some Groups Had Very Large Declines In Income." "'Almost every group is worse off than it was three years ago, and some groups had very large declines in income,' Green, who previously directed work on the Census Bureau's income and poverty statistics program, said in a phone interview today. 'We're in an unprecedented period of economic stagnation.'" (Jeff Kearn, "U.S. Incomes Fell More In Recovery, Sentier Says," Bloomberg, 8/23/12)

And The American Promise Won't Be Any Closer For Millions More Families If President Obama's Defense Cuts Are Implemented:

President Obama's Administration Was Behind The Idea Of "Massive Defense Cuts." "The book 'The Price of Politics,' by Washington Post Associate Editor Bob Woodward, makes it clear the idea for the draconian spending cuts originated in the White House – and not in Congress. According to the book, excerpts of which were obtained by POLITICO ahead of the Sept. 11 release, President Barack Obama's top deputies believed the prospect of massive defense cuts would compel Republicans to agree to a deficit-cutting grand bargain. Then-OMB Director Jack Lew, now the White House chief of staff, and White House Legislative Affairs Director Rob Nabors pitched the idea to Senate Majority Leader Harry Reid (D-Nev.), Woodward writes." (Austin Wright, "Bob Woodward Book Could Bolster Republican Attack On W.H.," Politico, 9/7/12)

President Obama's Defense Cuts Could Put As Many As 1.5 Million Jobs At Risk. "'Sequestration ($1 trillion in cuts) assumes across the board spending cuts with losses peaking in the 2013-2014 time period, with 1 million to 1.5 million jobs lost and that could increase the U.S. unemployment rate by nearly 1 percentage point in the near term,' said Lt. Col. Elizabeth Robbins, a spokeswoman of the Department of Defense." (Sean Gorman, "Rep. Randy Forbes Says 1.53 Million Defense Jobs Are 'At Risk,'" Politifact, 10/12/11)

Secretary Panetta: Sequestration "Guarantees That We Are Going To Hollow The Force And Devastate Our National Security." PANETTA: "And let me tell you something if sequester goes into effect, you can throw all of this out the window. Sequester doubles the numbers of cuts, does it through that crazy formula, and guarantees that we are going to hollow the force and devastate our national security." (Secretary Leon Panetta, Appropriations Committee, Subcommittee On Defense, U.S. House Of Representatives, Testimony, 2/16/12)