Romney Campaign Press Release - Audacity Of Obama Economics: Hostile To Jobs Creators, Attacking Records Of Job Creation

"This is another desperate attack from President Obama because he has no positive record to run on. Mitt Romney created more jobs in the state of Massachusetts than President Obama has for the entire nation. President Obama has failed to meet his own goal of 6% unemployment and has a net negative record on job creation. We're happy to compare the 4.7% unemployment rate Mitt Romney was able to accomplish. If President Obama had even half the job creation record of Mitt Romney, then he would be running on it." -Andrea Saul, Romney Campaign Spokesperson

ROMNEY'S PRO-GROWTH POLICIES HELPED REPAIR MASSACHUSETTS' ECONOMY

Under Governor Romney, Massachusetts' Unemployment Rate Fell To 4.7% And The Economy Added Tens Of Thousands Of Jobs:

Governor Romney Inherited An Economy That Was Losing Jobs Each Month And Left Office With An Economy That Was Adding Jobs Each Month. After taking office at a time when the state was losing thousands of jobs every month, Governor Romney's focus on fiscal responsibility helped create an environment where job growth returned to Massachusetts. Job growth increased throughout his term and the state added over 40,000 payroll jobs during his final year in office – the best year of job growth in Massachusetts over the past decade. Household employment grew by nearly 50,000 under Governor Romney and the unemployment rate declined to well under 5%. (Bureau of Labor Statistics, www.bls.gov, 5/30/12)

Massachusetts' Unemployment Rate Fell From 5.6% To 4.7% During The Romney Administration. In January 2003, when Governor Romney took office, state unemployment was 5.6%. In December 2006, his last full month in office, the unemployment rate was 4.7%. (Bureau of Labor Statistics, www.bls.gov, 5/30/12)

Per Capita Personal Income Grew By 14% During Governor Romney's Term – Outpacing The Country At Large. In 2003, Massachusetts per capita personal income was $39,442 and rose to $45,877 in 2006. (Department Of Commerce, Bureau Of Economic Analysis, "State Annual Personal Income," 7/29/07)

In Three Years Under Governor Romney, The Number Of Companies In The State's Development Pipeline Soared. "Under Ranch C. Kimball, who became Romney's secretary of economic development in 2004, the number of companies in the Massachusetts development pipeline jumped from 13 to 288 in three years." (Brian C. Mooney, Stephanie Ebbert And Scott Helman, "Ambitious Goals," The Boston Globe, 6/30/07)

Boston Business Journal, January 2007: "Thousands Of People Are Re-Entering Massachusetts' Work Force As Its Jobs Engine ... Continues To Gain Traction." (Boston Business Journal, 1/1/07)

Boston Globe: "Romney's Policies Are Credited With Improving The State's Competitiveness." "Romney's policies are credited with improving the state's competitiveness. His administration promoted high-density development to increase housing production, got a fast-track permitting law enacted by the Legislature to help businesses expand, and revived an agency to help firms move to the state." (Brian Mooney, Stephanie Ebbert and Scott Helman, "Ambitious Goals," The Boston Globe, 6/30/07)

PRESIDENT OBAMA'S HOSTILITY TO JOB CREATORS HAS LEFT AMERICANS STRUGGLING

President Obama Would Love To Have Governor Romney's Jobs Record After Presiding Over An Economy That's Lost Nearly Half A Million Jobs:

President Obama's Advisors Predicted Unemployment Would Currently Be At 6% – Instead It's Above 8%. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

If The Nation's Unemployment Rate Was At 4.7% – The Rate When Governor Romney Left Office In Massachusetts – Over Five Million More Americans Would Have Jobs Today. (Bureau Of Labor Statistics, www.bls.gov, 5/30/12)

"The Proportion Of Americans In Their Prime Working Years Who Have Jobs Is Smaller Than It Has Been At Any Time In The 23 Years Before The Recession..." (Peter Whoriskey, "Job Recovery Is Scant For Americans In Prime Working Years," The Washington Post, 5/30/12)

During President Obama's Time In Office, The Nation Has Lost 572,000 Jobs. (Bureau Of Labor Statistics, www.bls.gov, 5/30/12)

• Nearly Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 5/30/12)

"In April, The Percentage Of Adults Working Or Looking For Work Fell To The Lowest Level In More Than 30 Years." (Christopher S. Rugaber, "US Hiring Slows Sharply With Just 115K Jobs Added," The Associated Press, 5/4/12)

In April 2012, "More Than 340,000 Workers Dropped Out Of The Labor Force." "April's jobs report was, in a word, disappointing. The economy added only 115,000 jobs. Hiring slowed. More than 340,000 workers dropped out of the labor force." (Charles Riley, "Why Obama Can't Match The Reagan Recovery," CNN Money, 5/4/12)

Women Account For More Than 99 Percent Of The Jobs Lost Under President Obama. (Bureau Of Labor Statistics, www.bls.gov, 5/30/12)

More Than Half Of All Recent College Graduates Under The Age Of 25 Were "Jobless Or Underemployed, The Highest Share In At Least 11 Years." "About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields." (Hope Yen, "1 In 2 New Graduates Are Jobless Or Underemployed," The Associated Press, 4/22/12)

Why Is The Country Struggling Under President Obama? His Record Is Hostile To Job Creators And The Free Market:

President Obama "Has Pressed Forward On Hundreds Of New Mandates, While Also Stepping Up Enforcement Of Rules" In "A New Age Of Regulation." "Over the last year, the Obama administration has pressed forward on hundreds of new mandates, while also stepping up enforcement of rules by increasing the ranks of inspectors and imposing higher fines for violations. A new age of regulation is well under way in Washington ..." (Eric Lipton, "With Obama, Regulations Are Back In Fashion," The New York Times, 5/12/10)

President Obama's Dodd-Frank Law Alone Has Hundreds Of Rules Yet To Be Written. "The ozone rule would cost $19 billion to $90 billion in 2020, according to the White House. The Obama administration puts the cost of rearview cameras at $2.7 billion. A Bloomberg Government study in July found that four provisions of the Dodd- Frank law may cost banks and other financial services companies $22 billion, with hundreds of rules yet to be written." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

"[President Obama] Is Setting Up The U.S. Economy For One Of The Biggest Tax Increases In History In 2013." "President Obama unveiled part two of his American Jobs Act on Monday, and it turns out to be another permanent increase in taxes to pay for more spending and another temporary tax cut. No surprise there. What might surprise Americans, however, is how the President is setting up the U.S. economy for one of the biggest tax increases in history in 2013." (Editorial, "The 2013 Tax Cliff," The Wall Street Journal, 9/14/11)

President Obama's Tax Plans Would Come "At The Expense Of Smaller Businesses That File As Individuals" By Hiking Their Marginal Rates To "41% Or More." "By contrast, President Obama's proposal yesterday (see below) to cut the corporate rate to 28% from 35% wouldn't apply to this 'pass-through' business income. It would thus favor big corporations at the expense of smaller businesses that file as individuals and would see their marginal rate rise to 41% or more under Mr. Obama's plan to raise individual tax rates." (Editorial, "Romney's Tax Reboot," The Wall Street Journal, 2/23/12)