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Romney Campaign Press Release - Four Years Later, America's Competitiveness Isn't Better Off

September 05, 2012

"When it comes to America's ability to compete on a global scale, President Obama's record isn't 'incomplete' – he has undeniably failed. After four straight years of losing ground against the rest of world, our economic competitiveness isn't better off than it was when President Obama took office. Mitt Romney will implement policies that encourage growth and get our fiscal house in order." –Andrea Saul, Romney Campaign Spokesperson

Earlier Today, We Learned The United States' Global Economic Competitiveness Has Been Downgraded For The Fourth Consecutive Year:

An Annual Survey By The World Economic Forum Found America's Ability To Compete On The Global Stage Has Slipped Yet Again. "The United States' ability to compete on the global stage has fallen for the fourth year running as confidence in the country's politicians continues to decline, an annual survey from the World Economic Forum found Wednesday. ... The report found that some aspects of the U.S.'s political environment continue to raise concern among business leaders, 'particularly the low public trust in politicians and a perceived lack of government efficiency.'" ("Survey Finds US Competitive Ranking Down Again," The Associated Press, 9/15/12)

This Is The Fourth Consecutive Year America's Global Competitiveness Has Declined. "The United States has slipped further down a global ranking of the world's most competitive economies, according to a World Economic Forum (WEF) survey released on Wednesday. The world's largest economy, which was placed 5th last year, fell two positions to the 7th spot – marking its fourth year of decline." ("US Slips Down The Ranks Of Global Competitiveness," CNBC.com, 9/5/12)

Before President Obama Took Office, The United States Ranked First In Global Competitiveness. "The U.S. was in fourth place [in 2010], after falling from no. 1 in 2008." ("US Falls To 5th In Global Competitiveness, Survey Shows," The Associated Press, 9/7/11)

"A Number Of Weaknesses Are Chipping Away At [America's] Competitiveness..." "A lack of macroeconomic stability, the business community's continued mistrust of the government and concerns over its fiscal health were some of the reasons for the downgrade, according to the annual survey. 'A number of weaknesses are chipping away at its competitiveness ... the U.S. fiscal imbalances and continued political deadlock over resolving these challenges,' said Jennifer Blanke, Economist at the Geneva-based WEF." ("US Slips Down The Ranks Of Global Competitiveness," CNBC.com, 9/5/12)

Under President Obama, America Has Also Added Debt At A Historic Pace, Suffered An Unprecedented Credit Downgrade, And Run The Biggest Deficits In Our Country's History:

It Was Announced Yesterday That Our National Debt Has Climbed Past $16 Trillion. "The gross debt of the United States has reached $16 trillion, the Treasury Department announced Tuesday on the first day of the 2012 Democratic National Convention. The Daily Treasury Statement puts the debt at $16.016 trillion, a new record." (Erik Wasson, "National Debt Reaches $16 Trillion As Dems Begin Their Convention," The Hill, 9/4/12)

  • "National Debt Reaches $16 Trillion As Dems Begin Their Convention" (The Hill, 9/4/12)
  • President Obama Is Responsible For "The Most Rapid Increase In The Debt Under Any U.S. President." (Mark Knoller, "National Debt Has Increased $4 Trillion Under Obama," CBS News, 8/22/11)

Last Summer, The United States Was Stripped Of Its Prized AAA Credit Rating For The First Time. "S&P removed for the first time the triple-A rating the U.S. has held for 70 years, saying the budget deal recently brokered in Washington didn't do enough to address the gloomy outlook for America's finances. It downgraded long-term U.S. debt to AA+, a score that ranks below more than a dozen governments', including Liechtenstein's, and on par with Belgium's and New Zealand's." (Damian Paletta and Matt Phillips, "S&P Strips U.S. Of Top Credit Rating," The Wall Street Journal, 8/6/11)

National Journal: "An Ignominious Legacy For Obama." "The bitter negotiations damaged the standing of Washington leaders—including Obama—in the eyes of an anxious and frustrated public. Then a rating agency lowered the U.S. credit rating for the first time, an ignominious legacy for Obama." (George E. Condon Jr., "What a Week: Afghan Deaths, S&P, And Debt Limit Debate Challenge Obama," National Journal, 8/6/11)

Under President Obama, America Is Facing Its Fourth Consecutive Year Of Trillion-Dollar Budget Deficits. "The latest budget figures from the White House predict this year's federal budget deficit will end up at $1.2 trillion. That would make the fourth consecutive year of trillion dollar-plus deficits during President Obama's administration." ("Administration Projects $1.2T 2012 Budget Deficit," The Associated Press, 7/27/12)

Mitt Romney, Romney Campaign Press Release - Four Years Later, America's Competitiveness Isn't Better Off Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/302692

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