Romney Campaign Press Release - The Obama Economy Vs. The Clinton Economy

"President Obama is trying to run on Bill Clinton's record because, after three and a half years in office, middle-class Americans aren't better off under his leadership. Jobs and incomes have declined, while the nation's debt and deficits are up. As inconvenient as it might be for President Obama, it's time for him to run on his own record, not the record he wished he had." — Ryan Williams, Romney Campaign Spokesman

President Obama Has Presided Over An Economy That Has Lost Jobs, While The Economy Added Millions Of New Jobs While President Clinton Served In Office:

Since President Obama Took Office, The U.S. Economy Has Lost 473,000 Jobs. (Bureau Of Labor Statistics, www.bls.gov, 7/26/12)

During President Clinton's Time In Office, The U.S. Economy Created 22.7 Million New Jobs. (Bureau Of Labor Statistics, www.bls.gov, 7/26/12)

Under President Clinton, The Unemployment Rate Fell From 7.3% To 4.2%. (Bureau Of Labor Statistics, www.bls.gov, 7/26/12)

Under President Obama, The Unemployment Rate Has Increased From 7.8% To 8.2%. (Bureau Of Labor Statistics, www.bls.gov, 7/26/12)

President Obama Has Presided Over An Economy That Is Driving Down Household Incomes, While Wages Rose During President Clinton's Time In Office:

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)

Under President Clinton, Median Household Incomes Increased By 14 Percent. "The median household income increased during the two terms of Clinton (by 14 per cent, as we'll see in more detail below), Ronald Reagan (8.1 per cent), and Richard Nixon and Gerald Ford (3.9 per cent). ... Under Clinton, the median income increased 14 per cent."  (Ronald Brownstein, "Closing The Book On The Bush Legacy," The Atlantic, 9/11/09)

• President Obama's 2008 Campaign Sent Out A Press Release That Noted Median Household Income Under President Clinton Increased By $6.200. "Under the Clinton Administration, median household income increased by $6,200." (Obama For America, "Statement From Senator Obama On Census Income, Health Insurance And Poverty Numbers," Press Release, 8/26/08)

President Obama Has Presided Over Four Straight Trillion-Dollar Deficits, While President Clinton Presided Over Balanced Budgets:

This Year Will Be President Obama's "Fourth Straight Year Of Deficits Over $1 Trillion." "Obama's budget projects that the deficit for the current year will total $1.33 trillion, the fourth straight year of deficits over $1 trillion." ("Highlights Of Obama's $3.8 Trillion Budget," The Associated Press, 2/13/12)

• Since President Obama Took Office, The National Debt Has Surpassed A Record $15.8 Trillion — An Increase Of More Than $5.26 Trillion. (Department Of The Treasury, www.treasurydirect.gov, 7/26/12)

Under President Bill Clinton, Federal Budgets Were Balanced. "Democrat Bill Clinton was president the last time the federal budget was balanced, and Republicans controlled Congress." (Jim Dexter, "CNN Fact Check: The Last President To Balance The Budget," CNN, 2/3/10)

President Obama Has Presided Over A Weakening GDP, While The Economy Grew By 3.5% On Average During President Clinton's Tenure:

Under President Obama, America's 2012 First Quarter GDP Growth Was A "Tepid" 1.9%, Which Was "Too Weak To Lower The Unemployment Rate."  "Applications for unemployment benefits stayed above a level last week that is generally considered too high to lower the unemployment rate. And the annual growth rate for the U.S. economy in the January-March quarter was unchanged at a tepid 1.9 percent. ... Growth of around 1.9 percent typically generates roughly 90,000 jobs a month. That's considered too weak to lower the unemployment rate, which was 8.2 percent last month." (Christopher S. Rugaber, "Tepid Economic Growth Weighs On US Job Market," The Associated Press, 6/28/12)

Under President Clinton, GDP Growth Averaged 3.5% Per Year. "Clinton campaigned on the economy and had remarkable success. GDP growth during his eight years averaged 3.5% per year, second only to the combined Kennedy/Johnson years and ahead of Jimmy Carter and Reagan." (Dan Ackman, "Presidents And Prosperity," Forbes, 7/20/04)