Romney Campaign Press Release - Romney For President Launches New Television Ad, "Business World"

FOR IMMEDIATE RELEASE

CONTACT: Kevin Madden (857) 288-6390

Boston, MA – Tomorrow, Romney for President will launch its newest television ad, "Business World." The ad highlights Governor Romney addressing his plans to curb wasteful government spending in Washington. With an exceptional record of turning around businesses, the 2002 Winter Olympics and the state of Massachusetts, Governor Romney has the experience necessary to turn around our nation's capital. Change in Washington begins when Republicans are fiscally responsible with taxpayer money.

The ad will begin airing as part of the campaign's rotation in South Carolina tomorrow. Script and viewing links are below.

Script For "Business World" (TV:30):


GOVERNOR MITT ROMNEY: "In business, you only spend what you have.

"In Washington, government always spends more. It shouldn't be that way.

"I'm Mitt Romney. I come from the business world – where turning around companies taught me how to manage budgets.

"That's what I did at the Olympics and as Governor.

"As President, I'll audit Washington – top to bottom – and cut spending.

"Because our next President has to be an agent of change.

"And as Republicans, change begins with us.

"I'm Mitt Romney and I approved this message."

To watch "Business World," please see: http://tv.mittromney.com/?showid=450503

AD FACTS: Script For "Business World" (TV:30):


GOVERNOR MITT ROMNEY: "In business, you only spend what you have. In Washington, government always spends more. It shouldn't be that way. I'm Mitt Romney. I come from the business world – where turning around companies taught me how to manage budgets."

- Governor Romney Has "A Solid Reputation In The Business Community For Turning Companies Around." CNN's RHONDA SCHAFFLER: "Romney had a solid reputation in the business community for turning companies around, like Staples, Domino's Pizza and the Sports Authority." (CNN's "Business Unusual," 1/27/02)

- The Boston Globe's Robert Gavin And Sacha Pfeiffer: "In time, Romney would lead the shaky start-up from a staff of seven people managing $37 million to 115 people managing $4 billion in assets. During Romney's 15-year tenure, Bain Capital would post an astonishing record, on average doubling its return on realized investments every year." (Robert Gavin and Sacha Pfeiffer, "Reaping Profit In Study, Sweat," The Boston Globe, 6/26/07)

- Governor Romney "Insisted That Bain Capital Be Especially Careful With Other People's Money." "Frugal with his own money, Romney insisted that Bain Capital be especially careful with other people's money. The office was Spartan, furnished with gray metal desks. When partners traveled, they flew coach. Andrews recalls that the rule for meals on the road was: 'They should be nourishing, but not memorable.'" (Robert Gavin And Sacha Pfeiffer, "Reaping Profit In Study, Sweat," The Boston Globe, 6/26/07)

- Bloomberg's Heidi Pryzbyla: "Romney's business record is unmatched by the current crop of leading candidates." (Heidi Pryzbyla, "Romney Finds Classmate Bush's Management Lapses Unlikely Hurdle," Bloomberg, 7/1/07)

GOVERNOR MITT ROMNEY: "That's what I did at the Olympics and as Governor."

- At The 2002 Salt Lake City Winter Olympics, Governor Romney Turned A $379 Million Deficit Into A $100 Million Profit. "As early as 1999, a financial crisis was looming: The Games were mired in a bribery scandal and were running a $379 million deficit. Romney was asked to step in, and he immediately slashed budgets and boosted sponsorships. And since the Games were held just months after Sept. 11, 2001, he oversaw a huge security apparatus. He now says it was one of the most difficult things he'd ever done, comparing it to 'arranging 17 Super Bowls a day for 17 days.' The Games ended up with a $100 million profit." (Marcia Vickers, "The Republicans' Mr. Fix-It," Fortune Magazine, 6/27/07)

- Governor Romney "Immediately Cut Out The Lavish Meals And Travel Boondoggles" And "The Message Got Through: The Organization Went From Deep In The Red Into The Black By The Close Of The Games." "When he took over the Salt Lake City Olympic Games, he immediately cut out the lavish meals and travel boondoggles. 'We're going to have pizza and it's a dollar a slice,' he announced. He charged executives 25 cents for a soda and had meals served on paper plates. Romney himself worked without a salary. The message got through: the organization went from deep in the red into the black by the close of the Games." (Jonathan Darman and Evan Thomas, "Mitt Romney: Too Good To Be True?" Newsweek, 2/26/07)

- In Massachusetts, Governor Romney Closed A Nearly $3 Billion Shortfall Without Raising Taxes. "When Mitt Romney became governor of Massachusetts in 2003, the state had a budget gap of almost $3 billion and was losing thousands of jobs a month. In Mr. Romney's four-year tenure, the deficit was eliminated without raising the sales tax or the income tax, and since the labor slump hit bottom in December 2003, the state has gained 81,000 jobs." (Pam Belluck, "Romney Candidacy Puts Massachusetts Economy In Spotlight," The New York Times, 3/16/07)

- To Close The Budget Gap, Governor Romney Forced The Legislature To Pass "Tremendous Spending Cuts." "Governor Romney receives credit for actual spending in FY 2003, even though he entered office halfway into the fiscal year, because of the tremendous spending cuts he forced down the Legislature's throat in January of 2003. Facing a $650 million deficit he inherited from the previous administration, Romney convinced the unfriendly State Legislature to grant him unilateral power to make budget cuts and unveiled $343 million in cuts to cities, healthcare, and state agencies. This fiscal discipline continued in 2004, in which Romney continued to slash 'nearly every part of state government' to close a $3 billion deficit." (The Club For Growth, "Mitt Romney's Record On Economic Issues," Press Release, 8/21/07)

- The Club For Growth: Governor Romney "Imposed Some Much-Needed Fiscal Discipline On A Very Liberal Massachusetts Legislature." (The Club For Growth, "Mitt Romney's Record On Economic Issues," Press Release, 8/21/07)

- Governor Romney's Closing Of The Budget Gap Was "Conservative In Both Ends And Means." "As governor, Romney has scored another turnaround, conservative in both ends and means. Told during the campaign that he would inherit a deficit of between $500 million and $1.5 billion, Romney discovered upon taking office a $650 million deficit in fiscal 2003 and an anticipated one of $3 billion in fiscal 2004. Romney balanced the 2003 budget, and he finished 2004 with a $700 million surplus. A reviving economy helped, but Romney didn't tax or borrow, and he reduced spending through government consolidation and reform." (Terry Eastland, "In 2008, Will It Be Mormon In America?" The Weekly Standard, 6/6/05)

GOVERNOR MITT ROMNEY: "As President, I'll audit Washington – top to bottom – and cut spending. Because our next President has to be an agent of change. And as Republicans, change begins with us. I'm Mitt Romney and I approved this message."

- Governor Romney Will "Lead A Top-To-Bottom Review Of Government Programs, Agencies And Procurement And Spending." "One more thing in this regard: If elected president, I will personally – personally – lead a top-to-bottom review of government programs, agencies and procurement and spending. It is time to cut out the mountains of waste and inefficiency and duplication in the federal government." (Governor Mitt Romney, Remarks At The Conservative Political Action Conference, Washington, D.C., 3/2/07)

- General Accounting Office: "There Is A Need To Engage In A Fundamental Review, Reprioritization And Reengineering Of The Base Of Government." "There is a need to engage in a fundamental review, reprioritization, and reengineering of the base of government. Aligning the federal government to meet the challenges and capitalize on the opportunities of the 21st century will require a fundamental review of what the federal government does, how it does it, and how it is financed. Many of the federal government's current policies, programs, functions, and activities are based on conditions that existed decades ago, are not results-based, and are not well aligned with 21st century realities." (General Accounting Office, "Fiscal Stewardship: A Critical Challenge Facing Our Nation," Report, January 2007)

- The Washington Times' Donald Lambro: "Mr. Romney Is Tough On Spending, Maybe Even Better Than Reagan." "Still, Mr. Romney is tough on spending, maybe even better than Reagan, and promises to slay big government with aggressive use of his veto." (Donald Lambro, "In Search Of The Right Candidate," The Washington Times, 10/18/07)

- Governor Romney: "Republicans for Change are also fiscally responsible. We refuse to charge our children and grandchildren for our excessive spending. Even in Massachusetts facing a nearly $3 billion budget gap, the legislature and I balanced the budget every year and replenished the rainy day fund, without raising taxes and without raising our borrowing cap. Now it's Washington's turn to do the same. If I am elected President, I will cap non-military discretionary spending at inflation less one percent. If I get appropriations above that amount, I will veto them. And I like vetoes. I've vetoed hundreds of items already. Let's put some fresh ink in the Presidential veto pen." (Governor Mitt Romney, Remarks At The Mackinac Republican Leadership Conference, Mackinac Island, MI, 9/22/07)

To watch "Business World," please see: http://tv.mittromney.com/?showid=450503