Romney Campaign Press Release - Breaking America's Promise

"Four years ago, President Obama claimed he would keep 'America's promise' as president – but, after three and a half years in office, he's forgotten to keep his own promises to voters. From record unemployment to declining middle-class incomes, President Obama has repeatedly demonstrated he doesn't have what it takes to get our economy moving again." –Andrea Saul, Romney Campaign Spokesperson

During His 2008 Campaign, President Obama Delivered A Major Campaign Speech In Janesville Called "Keeping America's Promise":

In February 2008, Candidate Obama Delivered A Major Campaign Address In Janesville, Wisconsin Called "Keeping America's Promise." (Senator Barack Obama, Remarks, Janesville, WI, 2/13/08)

But Four Years Later, Wisconsinites – And All Americans – Are Still Waiting On President Obama To Keep His Promises To Middle-Class Americans:

Candidate Obama, In Janesville: "Create Millions Of Good Jobs Right Here In America..." OBAMA: "So today, I'm laying out a comprehensive agenda to reclaim our dream and restore our prosperity. It's an agenda that focuses on three broad economic challenges that the next President must address - the current housing crisis; the cost crisis facing the middle-class and those struggling to join it; and the need to create millions of good jobs right here in America- jobs that can't be outsourced and won't disappear." (Senator Barack Obama, Remarks, Janesville, WI, 2/13/08)

• More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 6/15/12)

• Under President Obama, The Nation Has Lost 552,000 Jobs. (Bureau Of Labor Statistics, www.bls.gov, 6/15/12)

• Job Growth Has Declined In Each Of The Last Four Months. (Bureau Of Labor Statistics, www.bls.gov, 6/15/12)

Candidate Obama: "We Have To Give [The Middle Class] A Way Out By Cutting Costs, Putting More Money In Their Pockets..." OBAMA: "The second major economic challenge we have to address is the cost crisis facing the middle-class and the working poor. As the housing crisis spills over into other parts of the economy, we've seen people's entire life savings wiped out in an instant. It's the result of skyrocketing costs, stagnant wages, and disappearing benefits that are pushing more and more Americans towards a debt spiral from which they can't escape. We have to give them a way out by cutting costs, putting more money in their pockets, and rebuilding a safety net that's become badly frayed over the last decades." (Senator Barack Obama, Remarks, Janesville, WI, 2/13/08)

• Since President Obama Took Office, Median Household Income Has Declined By $4,300. "Yet real median household income in March was down $4,300 since Obama took office in January 2009 and down $2,900 since the June 2009 start of the economic recovery, according to an analysis of census data by Sentier Research, an economic- consulting firm in Annapolis, Maryland." (Mike Dorning, "Obama Fails To Stem Middle-Class Slide He Blamed On Bush," Bloomberg, 4/30/12)

• Median Family Net Worth Has Hit A Two-Decade Low. "The Great Recession shrank Americans' wealth so much that in 2010 median family net worth was no more than it had been in 1992 after adjusting for inflation, the Federal Reserve reported Monday. Median net worth declined from $126,400 in 2007 to $77,300 in 2010, a Fed survey of family finances found. The median marks the point where half had more and half had less." (Martin Crutsinger, "Fed Report: Middle Class Net Worth Tumbles," The Associated Press, 6/12/12)

Candidate Obama: Help Those Facing Foreclosures "So They Can Stay In Their Homes." OBAMA: "For those Americans who are facing the brunt of the housing crisis, I've proposed a fund that would provide direct relief to victims of mortgage fraud. We'd also help those who are facing closure refinance their mortgages so they can stay in their homes." (Senator Barack Obama, Remarks, Janesville, WI, 2/13/08)

• "Foreclosures In The U.S. Are Rising." "Foreclosures in the U.S. are rising. Default notices, scheduled auctions, and bank repossessions were reported on 205,990 U.S. properties in May, up 9 percent from the previous month, according to research firm RealtyTrac." (Ilyce Glink, "Foreclosures Spike In May," CBS News, 6/14/12)

In May, Foreclosure Starts Were Up 12 Percent Over The Previous Month And Up "16 Percent Compared With The Year-Ago Period." "Foreclosure starts -- meaning default notices or scheduled foreclosure auctions, depending on the state -- also rose in May, increasing 12 percent from April and 16 percent compared with the year-ago period." (Ilyce Glink, "Foreclosures Spike In May," CBS News, 6/14/12)

Candidate Obama: "It's Also Time That We Brought Down The Cost Of A College Education..." OBAMA: "If we want to train our workforce for a knowledge economy, it's also time that we brought down the cost of a college education and put it within reach of every American." (Senator Barack Obama, Remarks, Janesville, WI, 2/13/08)

• Since President Obama Took Office, The Average Cost Of College Has Increased By 25% At Four-Year Public Schools Across The Country. ("Trends In College Pricing," College Board, 2011)

• Student Loan Debt Has Surpassed $1 Trillion – "Far Higher Than Earlier Estimates." "The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday. Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis." (Josh Mitchell and Maya Jackson-Randall, "Student-Loan Debt Tops $1 Trillion," The Wall Street Journal, 3/22/12)