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Romney Campaign Press Release - Another Disappointing Day In The Obama Economy

October 05, 2012

From Sluggish Hiring To Skyrocketing Gas Prices, The Middle Class Can't Afford Four More Years Like The Last Four Years.

The Middle Class Suffered Another Disappointing Day, With Skyrocketing Gas Prices, Fewer Good-Paying Jobs, And Sluggish Hiring:

"Most Small Businesses Remained Reluctant To Hire In September," With 77 Percent Of Small Businesses Reporting No Net Change In Employment. "Most small businesses remained reluctant to hire in September, according to a new report by the National Federation of Independent Business. Some 77 percent of small businesses said they made no net change in employment during the month, and 13 percent said they reduced employment by an average of three workers. The seasonally adjusted data showed that 10 percent of owners reported adding more than 2 employees per firm." (Mohana Ravindranath, "Small Businesses Hiring Slows Further In September," The Washington Post, 10/5/12)

  • "The Number Of Small Business Owners With A Job Opening Fell To 17 Percent In September." (Mohana Ravindranath, "Small Businesses Hiring Slows Further In September," The Washington Post, 10/5/12)

Business Startups Are Generating Fewer Jobs Than During The Recession. "Despite glimmers of good news for job creation, the state of America's startups presents a troubling sign: There are fewer of them, and those that exist are hiring fewer workers. ... Historically, new companies have generated 3 million net new jobs every year. That fell to 2.5 million during the recession, and recent government figures suggest it's only gotten worse. As for how many jobs they create, Tim Kane, an economist at the Hudson Institute, found a sharp decline."(Jose Pagliery, "Entrepreneurship Is 'Weaker Than Ever'," CNN Money, 10/5/12)

Americans Who Work In "Manufacturing, Logistics, Or Other Professions That Don't Require A College Degree Are Increasingly Dropping Out Of The Labor Force And Giving Up Looking For Work." "That's because as the country's economy slowly improves, more people who traditionally work in manufacturing, logistics, or other professions that don't require a college degree are increasingly dropping out of the labor force and giving up looking for work." (Alana Semuels, "Jobs Numbers Show Working-Class Voters Struggling," Los Angeles Times, 10/5/12)

Retail Gas Prices Will Continue To Climb Through October. "Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand." (Sharon Epperson, "Gasoline Prices Set To Rise Through Election Day," CNBC, 10/5/12)

And This Generation Won't Be The Only Ones Paying The Price — The Next Generation Will Be Forced To Pay Off Yet Another Trillion-Dollar Deficit:

Today, The Congressional Budget Office Estimated That The FY2012 Deficit Totaled $1.1 Trillion. "A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama's watch. The result was a slight, $207 billion improvement from the 2011 deficit of $1.3 trillion. The bleak figures from the Congressional Budget Office, while expected, add fodder for the heated presidential campaign, in which Obama's handling of the economy and the budget is a main topic." (Andrew Taylor, "CBO Tallies 2012 Deficit At $1.1T," The Associated Press, 10/5/12)

"The Fourth Year Of Trillion-Dollar Deficits Under President Obama." "The government's fiscal 2012 has now come to a close and the score is in. The budget deficit for 2012 was $1.1 trillion, the fourth year of trillion-dollar deficits under President Obama." (Erik Wasson, "CBO Reports Deficit Was $1.1 Trillion In 2012," The Hill, 10/5/12)

Mitt Romney, Romney Campaign Press Release - Another Disappointing Day In The Obama Economy Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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