Romney Campaign Press Release - Barack In Time: When Obama Promised a Better Future For Middle-Class Families

"Four years ago today, Candidate Obama promised an economy that would finally work for the middle class. But after nearly four years in office, President Obama still hasn't delivered and middle-class families are struggling with fewer jobs, lower incomes, higher poverty, and skyrocketing costs. The President's policies have disappointed those who needed him most. Mitt Romney and Paul Ryan are offering a very different vision and a better future with 12 million new jobs and more take-home pay." – Andrea Saul, Romney Campaign Spokesperson

Four Years Ago Today, Candidate Obama Criticized An Economy That Was "Not Working For Ordinary People" And Promised A Better Future:

Candidate Obama, Four Years Ago Today: "We Are At A Tough Time Right Now In This His Country ... We Have Seen An Economy That Is Not Working For Ordinary People." OBAMA: "But the other thing I've learned as I've traveled across the country is, is that that American dream feels like it's slipping away. You know? We are at a tough time right now in this his country, and I don't have to tell people here. You know, we have seen an economy that is not working for ordinary people." (Sen. Barack Obama, Remarks, Billings, MT, 8/27/08)

Candidate Obama: "Record Number Of Home Foreclosures ...  People Not Being Able To Fill Up Their Gas Tanks. ... Young People Having The Grades To Go To College But Not Having The Money." OBAMA: "Manufacturing keeps shutting down. We have record number of home foreclosures, the most since any time since the Great Depression. Family bankruptcies. People not being able to pay for health care. People not being able to fill up their gas tanks. Seniors who try to figure out how they're going to pay their home heating this winter. Young people having the grades to go to college but not having the money." (Sen. Barack Obama, Remarks, Billings, MT, 8/27/08)

But Four Years Later, The Middle Class Isn't Better Off – Millions Of Americans Are Struggling To Find Work And Make Ends Meet:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 8/26/12)

• 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, 8/26/12)

"Almost 5.2 Million Americans Have Been Out Of Work For At Least Six Months." (Jeff Kearn, "U.S. Incomes Fell More In Recovery, Sentier Says," Bloomberg, 8/23/12)

The Nonpartisan Congressional Budget Office Has Projected "The Unemployment Rate Will Stay Above 8 Percent For The Rest Of The Year." "The unemployment rate will stay above 8 percent for the rest of the year, CBO estimates, and the rate of inflation in consumer prices will remain low." ("An Update To The Budget And Economic Outlook: Fiscal Years 2012 To 2022," Congressional Budget Office, 8/22/12)

"The Ranks Of America's Poor Are On Track To Climb To Levels Unseen In Nearly Half A Century..." "The ranks of America's poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net." (Hope Yen, "US Poverty On Track To Rise To Highest Since 1960s," The Associated Press, 7/22/12)

Sentier Research: "Almost Every Group Is Worse Off Than It Was Three Years Ago, And Some Groups Had Very Large Declines In Income." "'Almost every group is worse off than it was three years ago, and some groups had very large declines in income,' Green, who previously directed work on the Census Bureau's income and poverty statistics program, said in a phone interview today. 'We're in an unprecedented period of economic stagnation.'" (Jeff Kearn, "U.S. Incomes Fell More In Recovery, Sentier Says," Bloomberg, 8/23/12)

"For The First Time Since The End Of World War II, Mean Family Incomes Declined For Americans In All Income Tiers." "Their downbeat take on their economic situation comes at the end of a decade in which, for the first time since the end of World War II, mean family incomes declined for Americans in all income tiers. But the middle-income tier—defined in this Pew Research analysis as all adults whose annual household income is two-thirds to double the national median —is the only one that also shrunk in size, a trend that has continued over the past four decades." ("The Lost Decade Of The Middle Class," Pew Research Center, 8/22/12)

And Middle-Class Families Are Having To Do More With Less As Household Costs Skyrocket And Millions Of Mortgages Remain Underwater:

Under President Obama, Gas Prices Have Increased From $1.85 Per Gallon To 3.74 Per Gallon. (U.S. Energy Information Agency, 8/21/12)

Under President Obama, Family Health Care Premiums Have Increased $2,393 During President Obama's First Three Years In Office. (Kaiser Family Foundation, 2011)

Since President Obama Took Office, The Average Cost Of In-State Tuition At A Four-Year College Has Increased From $6,585 To $8,244 – A 25 Percent Increase. ("Trends In College Pricing 2009," College Board, 2008; "Trends In College Pricing 2011," College Board, 2011)

• The Cost Of College Is Currently At "An All Time High." "Nationally, the cost of a full credit load has passed $8,000, an all-time high. Throw in room and board, and the average list price for a state school now runs more than $17,000 a year, according to the twin annual reports on college costs and student aid published Wednesday by the College Board." (Justin Poe, "College Prices Up Again As States Slash Budgets," The Associated Press, 10/26/11)

Since President Obama Took Office, Homeowners Have Received More Than 8 Million Foreclosure Notices. (RealtyTrac Website, 8/12/12)

More Than 11 Million Homeowners Are Underwater On Their Mortgage. "CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released new data showing that 11.4 million, or 23.7 percent, of all residential properties with a mortgage were in negative equity at the end of the first quarter of 2012." (CoreLogic, "CoreLogic Reports Negative Equity Decreases In First Quarter Of 2012," Press Release, 7/12/12)