Romney Campaign Press Release - Barack In Time: When Obama Promised To Fix A Shrinking Middle Class

"After four years of President Obama's failed economic policies, things have only gotten worse for the middle class. Families in Colorado and around the nation are struggling with declining incomes, fewer good-paying jobs, and a shrinking middle class. Americans simply can't afford four more years like the last four years — they deserve a real recovery. Mitt Romney will deliver results for struggling Americans by creating 12 million new jobs, more take-home pay, and a more prosperous future for the next generation." — Andrea Saul, Romney Campaign Spokesperson

Four Years Ago Today, Candidate Obama Declared He Didn't "Want To Wake Up In Four Years" To A Shrinking Middle Class:

Candidate Obama, Four Years Ago Today: "I Don't Want To Wake Up In Four Years To Find That More Americans Fell Out Of The Middle-Class..." OBAMA: "But I am running for President because we simply cannot afford four more years of an economic philosophy that works for Wall Street instead of Main Street, and ends up devastating both. 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."  (Senator Barack Obama, Remarks, Dunedin, FL, 9/24/08)

But President Obama Has Presided Over A Shrinking Middle Class With Falling Incomes In Colorado And Other States Across The Country:

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)

Between 2008 And 2011, Median Household Income In Colorado Declined From $63,661 To $58,629 — Its Lowest Level Since 2005. (U.S. Census Bureau, Accessed 9/21/12)

"The Income Of The Typical U.S. Family Fell Or Was Flat In Almost Every State Last Year." "The income of the typical U.S. family fell or was flat in almost every state last year, with the drop particularly steep in places where the economy has been hit hard by the housing bust." (Josh Mitchell, "Incomes Fell Or Stagnated In Most States Last Year," The Wall Street Journal, 9/20/12)

• Families In Nevada, Florida, Arizona, And California Were Among Those Hit Hardest Last Year. "The sharpest drop occurred in Nevada, where median income fell by 6%. The median fell by 3.8% in California and by 2.9% in Arizona and Florida. Those four states are among those that have seen the biggest falls in home values and housing construction since the financial crisis, and where Americans are still struggling with the resulting heavy debt and high unemployment." (Josh Mitchell, "Incomes Fell Or Stagnated In Most States Last Year,"The Wall Street Journal, 9/20/12)

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 Gap Between Rich And Poor Americans Grew In 2011 As The Poverty Rate Remained At Almost A Two-Decade High." "The gap between rich and poor Americans grew in 2011 as the poverty rate remained at almost a two-decade high. The U.S. Census Bureau released figures today that showed household income fell, underscoring a sputtering economic recovery that's at the heart of the presidential campaign." (Catherine Dodge and Frank Bass, "Rich-Poor Gap Widens To Most Since 1967 As Income Falls," Bloomberg, 9/12/12)

Pew Research: "The Middle Class Has Shrunk In Size, Fallen Backward In Income And Wealth..." "Since 2000, the middle class has shrunk in size, fallen backward in income and wealth, and shed some—but by no means all—of its characteristic faith in the future." ("The Lost Decade Of The Middle Class," Pew Research, 8/22/12)