Romney Campaign Press Release - The Obama Economy: Stuck in Neutral

"As President Obama starts his NASCAR festivities, his failed policies continue to stall the country's economic engine. After three years of high unemployment, record debt, and skyrocketing gas prices, it's clear that President Obama has kept our economy stuck in neutral." —Andrea Saul, Romney Campaign Spokesperson

Under President Obama, The Nation's Unemployment Rate Has Been Stuck In Neutral For A Record 38 Months:

Thirty-Eight Straight Months Of Unemployment Above 8%: The jobless rate has been above 8% since February 2009, a thirty-eight month span unequaled in recorded history. (Bureau Of Labor Statistics, www.bls.gov, Accessed 4/17/12)

"The Congressional Budget Office Is Projecting Unemployment Of More Than 8% Throughout This Election Year And Into 2014." (David Jackson, "CBO Projects 8%-Plus Unemployment Into 2014," USA Today, 2/16/12)

Nearly Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, Accessed 4/17/12)

President Obama's Energy Policies Are Out Of Gas After Fuel Prices Have More Than Doubled During His Time In Office:

Under President Obama, Gas Prices Have More Than Doubled From The Nationwide Average Of $1.85 Per Gallon When He Was Sworn Into Office To $3.92 Per Gallon Today. (U.S. Energy Information Administration, www.eia.gov, Accessed 4/17/12)

Gas Prices Have Hit "A Record For This Time Of Year." "U.S. gas prices have jumped 8.8 percent since the start of this year, according to the Energy Information Agency, topping an average of $3.65 a gallon in the week ended February 22. This was a record for this time of the year, when prices are usually on the low side because of slow seasonal demand." (Nivedita Bhattacharjee, "Analysis: Gas Prices Siphon Sales From Restaurants," Reuters, 2/29/12)

NBC's Chuck Todd, On President Obama's Energy Policy: "He's Made No Progress." TODD: "There is no issue that has been a, I guess, a bigger bust for the president than energy policy in general. There's a lot of, we can come up with a lot of excuses as to why, but boy, it's just like you can't — he's made no progress." (MSNBC's "The Daily Rundown," 2/23/12)

During President Obama's Time In Office, The Nation's Spending Has Blown A Gasket With Record Debt And Deficits:

President Obama Did "Not Come Close" To Meeting His Pledge To Cut The Deficit In Half By The End Of His First Term. "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)

"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)

Under President Obama, The Nation's Total Public Debt Has Reached A Record $15.6 Trillion. (U.S. Department Of Treasury Website, www.treasurydirect.gov, Accessed 4/9/12)