Romney Campaign Press Release - Welcome Back, Carter!

"When President Obama chose President Carter for the opening night of his convention, he chose a fitting surrogate. From stagnant unemployment to a broken deficit pledge, both presidents left the country worse off than it was before they took office.  As president, Mitt Romney will deliver a new direction by implementing pro-growth policies that create 12 million new jobs and deliver relief to struggling middle-class families." – Ryan Williams, Romney Campaign Spokesman

President Obama And President Carter Have Both Overseen Economies With Unemployment Rates That Are Matters Of "Great Embarrassment":

Under President Obama, The National Unemployment Rate Has Increased To 8.3% -- The Highest Rate In Five Months.  "The unemployment rate ticked higher to 8.3% in July from 8.2% in the previous month. This is the highest rate since February."(Greg Robb, "Nonfarm Payroll Up 163,000 In July, Rate At 8.3%" MarketWatch, 8/3/12)

·         Since President Obama Took Office, The Nation Has Lost 316,000 Jobs And The Unemployment Rate Has Remained Above 8% For 42 Straight Months. (Bureau Of Labor Statistics, www.bls.gov, 9/1/12)

In 1980, President Carter Faced A National Unemployment Rate That Was A "Matter Of Great Embarrassment" To His Re-Election Campaign. "It is a matter of great embarrassment to Carter -- and an example of his failed economic policies, his critics say -- that the nation's unemployment rate is now 7.5 percent of the labor force, virtually the same as when he defeated Gerald Ford in 1976, promising he could do much better." (R. Gregory Nokes, "Carter, Reagan Have Differing Economic Plans," The Associated Press, 11/2/80)

·         In 1980, The Carter Economy Saw Unemployment Spike As High As 7.8% In July. (Bureau Of Labor Statistics, www.bls.gov, 9/1/12)

President Obama And President Carter Both Witnessed Rapid Expansions In Poverty During Their Times In Office:

Under President Obama, More Than Six Million Americans Have Already Fallen Into Poverty.(U.S. Census Bureau, www.census.gov, 9/1/12)

·         More Than 146 Million Americans Are Either In Poverty Or Considered Low Income – Which Represents Nearly Half Of The U.S. Population. "About 97.3 million Americans fall into a low-income category, commonly defined as those earning between 100 and 199 percent of the poverty level, based on a new supplemental measure by the Census Bureau that is designed to provide a fuller picture of poverty. Together with the 49.1 million who fall below the poverty line and are counted as poor, they number 146.4 million, or 48 percent of the U.S. population." (Hope Yen, "Census Shows 1 In 2 People Are Poor Or Low-Income," The Associated Press, 12/15/11)

Over President Carter's Four Years In Office, More Than 4 Million Americans Fell Into Poverty.(U.S. Census Bureau, www.census.gov, 9/1/12)

President Obama And President Carter Both Promised – And Failed – To Cut The National Deficit In Their First Terms:

President Obama Shattered His Pledge To Cut The Deficit In Half In His First Term. "The 2013 budget the president submitted today does not come close to meeting this promise of being reduced to $650 billion for fiscal year 2013. The president noted in that 2009 speech the Obama administration inherited a $1.3 trillion deficit. The deficit was similarly $1.3 trillion in 2011, is projected to be $1.15 trillion in 2012, and the president's budget claims it will be $901 billion in 2013." (Jake Tapper, "Obama's Broken Deficit Promise," ABC News, 2/13/12)

·         "The Federal Budget Deficit For Fiscal Year 2012 ... Will Total $1.1 Trillion ... Marking The Fourth Year In A Row With A Deficit Of More Than $1 Trillion." "The federal budget deficit for fiscal year 2012 (which ends on September 30) will total $1.1 trillion, the Congressional Budget Office (CBO) estimates, marking the fourth year in a row with a deficit of more than $1 trillion."("An Update To The Budget And Economic Outlook: Fiscal Years 2012 To 2022," Congressional Budget Office, 8/22/12)

President Carter "Failed In His First-Term Promise To Balance The Budget By 1981" And Ended 1980 With The Second-Largest Deficit On Record At The Time. "Carter failed in his first-term promise to balance the budget by 1981. His administration ended 1980 with a budget deficit of $58.9 billion, the second largest on record, and projects a deficit of $30 billion for 1981. The president has offered no new target for balancing the budget." (R. Gregory Nokes, "Carter, Reagan Have Differing Economic Plans," The Associated Press, 11/2/80)

And Both President Obama And President Carter Presided Over Gas Prices That Spiked During Their Times In Office:

Since President Obama Took Office, The Average Price Per Gallon Of Gas Has More Than Doubled From $1.85 To $3.78. (U.S. Energy And Information Administration, Accessed 8/30/12)

·         The Price Of Gas Is On Track To Reach Its "Highest-Ever Price For Labor Day." "With oil approaching $100 a barrel and the U.S. refinery market recovering from a spate of outages this year, gasoline is on track to reach its highest-ever price for Labor Day — and consumers may have to wait longer than usual to see those prices retreat." (Myra P. Saefong, "Drivers May Have To Wait For Break At Gas Pump," MarketWatch, 8/24/12)

Under President Carter, Families Faced Gas Prices That "Seemed To Jump" Every Time They Filled Up Their Gas Tanks. "As Americans approached Labor Day 1979, the signs of discontent that would devastate the Democrats in 1980 already were clear. The price of gasoline seemed to jump another nickel a gallon every time the family car needed another fill-up. Months of chaos in once-friendly Iran raised the spectre of even higher prices and possibly a return to gasoline lines." (Donald M. Rothberg, "A Presidential Campaign Long In The Making," The Associated Press, 11/8/80)