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Press Release - It Didn't Work: Four Years To The Day, Not Better Off

August 02, 2012

"Four years ago in Orlando, Candidate Obama claimed he had a plan to help the middle class. But, after years of disappointing progress, it's clear middle-class families aren't better off under President Obama: wages are lower, household costs are higher, and the next generation will be forced to pay off a skyrocketing national debt. As president, Mitt Romney will deliver a new direction and new pro-growth policies that get all Americans back to work." — Andrea Saul, Romney Campaign Spokesperson

During A 2008 Campaign Speech In Orlando, Candidate Obama Claimed Flat Wages And More Debt Cause "Our Economy As A Whole" To Suffer:

Candidate Obama, In Orlando Exactly Four Years Ago: "When Wages Are Flat, Prices Are Rising, And More And More Americans Are Mired In Debt, Our Economy As A Whole Suffers." OBAMA: "That's the truth at the heart of your Opportunity Compact - that we cannot have a thriving Wall Street and a struggling Main Street. That when wages are flat, prices are rising, and more and more Americans are mired in debt, our economy as a whole suffers. Our competitiveness as a nation suffers. Our children's future suffers." (Senator Barack Obama, Remarks, Orlando, FL, 8/2/08)

Four Years Later, The Obama Economy "As A Whole" Is Suffering From Lower Wages, Increasing Prices, And Record Debt:

Since President Obama Took Office, Median Household Income Has Declined By $4,300. "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)

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)

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, The National Debt Has Increased By More Than $5.3 Trillion — Which Represents An Additional $16,000 In Debt For Every American. (U.S. Department Of The Treasury, 8/1/12)

  • President Obama Is Responsible For "The Most Rapid Increase In The Debt Under Any U.S. President." "The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president." (Mark Knoller, "National Debt Has Increased $4 Trillion Under Obama," CBS News, 8/22/11)

And Florida Isn't Better Off With High Foreclosure Rates, Lost Jobs, And Over Half A Million More Floridians In Poverty:

Florida's Unemployment Rate Is Currently 8.6%. (Bureau Of Labor Statistics, 8/1/12)

Under President Obama, Florida Has Faced "Record Foreclosures." "The housing issue, while national in scope, particularly resonates in election battlegrounds such as Nevada and Florida that have faced record foreclosures." (Jim Kuhnhenn And Ben Feller, "Obama Seeks To Broaden Reach Of Housing Assistance," The Associated Press, 2/1/12)

  • Nearly Half Of All Florida Home Mortgages Are Underwater. "Nevada had the highest negative equity percentage with 61 percent of all mortgaged properties underwater, followed by Florida (45 percent), Arizona (43 percent), Georgia (37 percent) and Michigan (35 percent). These top five states combined have an average negative equity share of 44.5 percent, while the remaining states have a combined average negative equity share of 15.9 percent." (CoreLogic, "CoreLogic Reports Negative Equity Decreases In First Quarter Of 2012," Press Release, 7/12/12)

Since President Obama Took Office, Over 676,535 Floridians Have Fallen Into Poverty. ("Poverty: 2009 And 2010," U.S. Census Bureau, 10/2011)

Since 2008, Florida's Median Income Has Fallen $3,369. ("Household Income For States: 2009 And 2010," U.S. Census Bureau, 9/11)

Mitt Romney, Press Release - It Didn't Work: Four Years To The Day, Not Better Off Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/302381

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