Romney Campaign Press Release - Buried In The White House Report

"President Obama may be convinced his economic policies 'worked' — but his White House isn't so sure, downgrading economic growth projections for this year and the next. It's just the latest reminder that the Obama economy isn't working for millions of middle-class Americans. From Day One, Mitt Romney will implement pro-growth policies that will restore economic growth and get Americans back to work." — Amanda Henneberg, Romney Campaign Spokesperson

Yesterday, The Obama White House Lowered Projections For Economic Growth, Signaling A Slowing Economy For The Rest Of The Year And Next:

President Obama's Office Of Management And Budget "Projected Lower Economic Growth In 2012 And 2013 Than Previously Anticipated." "The mid-session review from the Office of Management and Budget also projected lower economic growth in 2012 and 2013 than previously anticipated, and calls for $195 billion in economic stimulus to address an economy that 'still faces significant headwinds.'" (Erik Wasson, "White House Projects $1.2T Deficit, Lower Economic Growth," The Hill, 7/27/12)

The Obama White House Downgraded Its Forecast For FY2012 GDP Growth To 2.3%. "In fiscal year 2012, the White House downgraded its its projection to a 2.3 percent growth in gross domestic product compared to 2.7 percent when President Obama released his budget in February." (Erik Wasson, "White House Projects $1.2T Deficit, Lower Economic Growth," The Hill, 7/27/12)

The White House Downgraded Its Forecast For FY2013 GDP Growth To 2.7%. "It lowered expectations in 2013 from 3 percent GDP growth to 2.7 percent." (Erik Wasson, "White House Projects $1.2T Deficit, Lower Economic Growth," The Hill, 7/27/12)

The White House's Projections  Came On The Same Day As Reports That GDP Grew At Just 1.5% In The Second Quarter. "The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowest growth in a year adds to worries that the economy could be stalling three years after the recession ended." ("Economic Growth Slowed To 1.5 Percent Rate In 2nd Quarter, Slowest In A Year," The Associated Press, 7/27/12)

And The White House Also Promised To Cut The Deficit In Years To Come — But Voters Have Heard That Promise Before:

The Obama White House Promised Lower Deficits In A Second Obama Term. "Administration economists said they expect a budget shortfall of $661 billion in 2014, little changed from $668 billion projected in February." (Roger Runningen, "Obama Advisers Project $1.2 Trillion Deficit for 2012," Bloomberg, 7/28/12)

President Obama Did Not "Come Close" To Meeting His First Promise To Cut The Deficit In Half. "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 White House Predicts This Year's Federal Budget Deficit Will End Up At $1.2 Trillion, Marking The Fourth Consecutive Year Of Trillion Dollar-Plus Deficits During President Barack Obama's Administration." (Andrew Taylor, "Administration Projects $1.2T 2012 Budget Deficit," The Associated Press, 7/27/12)

Politifact: "Obama Promised To Halve The Nation's Debt, But He Hasn't Managed To Chip Away Much As The End Of His First Term Nears." (Katie Sanders, "Obama Promised To Cut The Deficit By Half By The End Of His First Term But He 'Hasn't Even Come Close,'" Politifact, 5/16/12)