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Romney Campaign Press Release - We Can't Afford Four More Years Of Economic Stagnation

November 02, 2012

"Today's increase in the unemployment rate is a sad reminder that the economy is at a virtual standstill. The jobless rate is higher than it was when President Obama took office, and there are still 23 million Americans struggling for work. On Tuesday, America will make a choice between stagnation and prosperity. For four years, President Obama's policies have crushed America's middle class. For four years, President Obama has told us that things are getting better and that we're making progress. For too many American families, those words ring hollow. We can do better. We can have real economic growth, create millions of good-paying jobs, and give middle-class families the security and opportunity they deserve. When I'm president, I'm going to make real changes that lead to a real recovery, so that the next four years are better than the last." — Mitt Romney

This Morning, The Bureau Of Labor Statistics Reported Yet Another Month Of Unacceptably High Unemployment:

In October, The Nation's Unemployment Rate Increased To 7.9% -- Higher Than When President Obama Took Office In January 2009. (U.S. Bureau Of Labor Statistics, 11/2/12)

Last Month, Nearly 15% Of Americans Were Struggling For Work. (U.S. Bureau Of Labor Statistics, 11/2/12)

The October Jobs Report Exposed "Signs Of The Economy's Ongoing Weakness." "But there were also signs of the economy's ongoing weakness. Average hourly pay dipped a penny to $23.58. And the number of unemployed increased 170,000 to 12.3 million." (Christopher Rugaber, "US Economy Adds 171K Jobs, Rate Rises To 7.9 Pct," The Associated Press, 11/2/12)

Today's Jobs Report Is Just The Latest Disappointing Sign That Americans Need Real Change And A Real Recovery:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (U.S. Bureau Of Labor Statistics, 11/2/12)

Since President Obama Took Office, The Nation Has Lost 586,000 Manufacturing Jobs. (U.S. Bureau Of Labor Statistics, 11/2/12)

Before Taking Office, President Obama's Advisers Predicted The Stimulus Would Lower Unemployment To 5.4% By Today — But Unemployment Is Still At 7.9%. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09; U.S. Bureau Of Labor Statistics, 11/2/12)

President Obama Will Stand For Re-Election With "The Highest Unemployment Rate Of Any Incumbent Since Franklin Roosevelt." "Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt." (Christopher Rugaber, "US Economy Adds 171K Jobs, Rate Rises To 7.9 Pct," The Associated Press, 11/2/12)

"Businesses Remain Nervous About The Economy's Future Course." "Yet businesses remain nervous about the economy's future course. Many are concerned that Congress will fail to reach a budget deal before January. If lawmakers can't strike an agreement, sharp tax increases and spending cuts will take effect next year and possibly trigger another recession." (Christopher Rugaber, "US Economy Adds 171K Jobs, Rate Rises To 7.9 Pct," The Associated Press, 11/2/12)

Because Of President Obama's Lack Of Leadership On The Fiscal Cliff, "The U.S. Economy Faces A Real Threat Of A Renewed Recession Next Year." "Even with a moderate pace of job creation, the U.S. economy faces a real threat of a renewed recession next year. Without action by lawmakers, existing legislation will raise taxes and cut spending to the tune of about $600 billion in 2013." (Jason Lange, "Payrolls Rise Sharply, Giving Obama Some Relief," Reuters, 11/2/12)

"By Just About Any Measure," President Obama Has Presided Over "The Feeblest Economic Recovery Since The Great Depression." "The recession that ended three years ago this summer has been followed by the feeblest economic recovery since the Great Depression. Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the one that began in June 2009 is the weakest. The ugliness goes well beyond unemployment, which at 8.3 percent is the highest this long after a recession ended." (Paul Wiseman, "Economic Recovery Is Weakest Since World War II," The Associated Press, 8/15/12)

And With The Obama Economy Stuck In Neutral, Millions Of Americans Aren't Better Off Than They Were Four Years Ago:

Since President Obama Took Office, Median Household Incomes Have Declined By Over $4,000. ("Household Income Trends Series: September 2012," Sentier Research, 10/24/12)

President Obama Has Presided Over Poverty That Has "Remained Stuck At Record Levels," With Over 46 Million Americans Living In Poverty. "The ranks of America's poor remained stuck at record levels, although dwindling unemployment benefits and modest job gains helped stave off what experts had predicted would be the fourth rise in a row in the poverty rate. ... By total numbers, roughly 46.2 million people remained below the poverty line, unchanged from 2010. That figure was the highest in more than half a century when records were kept. The 15 percent poverty rate was basically unchanged from 1993 and was the highest since 1983." ("U.S. Poverty: Census Finds 46.2 Million Impoverished As Median Income Drops," The Associated Press, 9/12/12)

Since President Obama Took Office, The Number Of Americans On Food Stamps Has Increased From Nearly 32 Million To Nearly 47 Million — A Record High. (U.S. Department Of Agriculture Website, Accessed 10/27/12)

Mitt Romney, Romney Campaign Press Release - We Can't Afford Four More Years Of Economic Stagnation Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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