Romney Campaign Press Release - Two Years Later: Still Waiting For "Recovery Summer"

"During his time in office, President Obama has repeatedly shown how out of touch he is with the realities of our economy. Two years ago today, he kicked off a 'Recovery Summer' campaign that never arrived. Now, he claims the private sector is 'doing fine.' Time and again, President Obama has shown an extraordinary misunderstanding of how our economy works. From day one of his presidency, Mitt Romney will deliver pro-growth policies that will get our country back on track and get Americans back to work." –Andrea Saul, Romney Campaign Spokesperson

Two Years Ago Today, President Obama Promised Struggling Americans A "Recovery Summer":

White House Press Release, June 17, 2010: "Administration Kicks Off 'Recovery Summer' With Groundbreakings And Events Across The Country" (The White House, "Administration Kicks Off 'Recovery Summer' With Groundbreakings And Events Across The Country," Press Release, 6/17/10)

Politico Headline: "Obama, Biden Declare 'Recovery Summer'" (Mike Allen, "Obama, Biden Declare 'Recovery Summer'," Politico, 6/17/10)

President Obama And Vice President Biden Traveled Across The Country To Promote Their "Recovery Summer." "Biden, President Barack Obama and other administration officials will travel to more than two dozen Recovery Act project sites in coming weeks. On Friday, the president will travel to Columbus, Ohio, to mark the groundbreaking of the 10,000th Recovery Act road project to get under way." (Mike Allen, "Obama, Biden Declare 'Recovery Summer'," Politico, 6/17/10)

White House Blog, June 17, 2010: "This Summer Is Sure To Be A Summer Of Economic Recovery." "As the summer heats up, it is becoming clear that it could quite possibly be the most active season yet when it comes to recovering our economy. There are Recovery Act-funded projects breaking ground across the country that are creating quality jobs for Americans and economic growth for businesses, large and small. This summer is sure to be a Summer of Economic Recovery." (Ron Sims, "A Summer Of Recovery," White House Blog, 6/17/10)

Treasury Secretary Timothy Geithner's August 2010 Op-Ed: "Welcome To The Recovery" (Timothy F. Geithner, Op-Ed, "Welcome To The Recovery," The New York Times, 8/2/10)

What Happened During "Recovery Summer"? Our Economy Lost Nearly 300,000 Jobs:

During The Summer Of 2010, The American Economy Lost An Estimated 276,000 Jobs. In President Obama's "Recovery Summer," nonfarm payrolls declined by 167,000 in June, 58,000 in July, and 51,000 in August, for a total job loss of 276,000 over that three-month period. (Bureau of Labor Statistics, www.bls.gov, 6/16/12)

But "Recovery Summer" Wasn't The Only Time President Obama And His Team Promised A Recovery Was Imminent:

Before Taking Office, President Obama's Advisers Predicted The Stimulus Would Lower Unemployment Below 6% By Today – But It Has Remained Above 8% For 40 Straight Months. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

February 2009: The Impact Of The Stimulus "Literally Drop-Kicks Us Out Of This Recession And We Begin To Grow Again..." VICE PRESIDENT BIDEN: "This is a monumental project, but I think it's doable. But I just think we got to stay on top of it and we got to stay on top of it on a weekly basis. Because this is about getting this out and spent in 18 months to create 3.5 million jobs and do – to set – tee this up so the rest of the good work that's being done here literally drop-kicks us out of this recession and we begin to grow again and begin to grow again." (Vice President Joe Biden, Remarks, Washington D.C., 2/25/09)

December 2010: "A Recovery Is Beginning To Take Hold." PRESIDENT OBAMA: "Now, fortunately, we've seen some encouraging signs that a recovery is beginning to take hold. An economy that had been shrinking for nearly a year is now growing." (President Barack Obama, Remarks, Winston-Salem, NC, 12/6/10)

February 2012: "The Recovery Is Speeding Up." PRESIDENT OBAMA: "The economy is growing stronger. The recovery is speeding up. And the last thing we can afford to do right now is to go back to the very policies that got us into this mess in the first place. We can't afford it." (President Barack Obama, Remarks, 2/13/12)

June 2012: "The Private Sector Is Doing Fine." PRESIDENT OBAMA: "The truth of the matter is that, as I said, we've created 4.3 million jobs over the last 27 months, over 800,000 just this year alone. The private sector is doing fine. Where we're seeing weaknesses in our economy have to do with state and local government." (President Barack Obama, Press Conference, 6/8/12)

As We Enter The Fourth Summer Of President Obama's Term, Millions Of Struggling Americans Are Still Waiting For The "Recovery" To Come:

More Than Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, 6/4/12)

"American Employers In May Added The Smallest Number Of Workers In A Year." "American employers in May added the smallest number of workers in a year and the unemployment rate unexpectedly increased as job-seekers re-entered the workforce, further evidence that the labor-market recovery is stalling." (Timothy R. Homan, "Employment In U.S. Increased 69,000 In May," Bloomberg, 6/1/12)

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

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)

"Americans Confidence In The Economy Fell The Most In Eight Months As Worries About The Weak Jobs, Housing And Stock Markets Continue To Rattle Them." ("Consumer Confidence In The Economy Plunged In May," The Associated Press, 5/29/12)