Romney Campaign Press Release - American Families Are Struggling In The Obama Economy

"No matter how many lofty campaign speeches President Obama gives, the fact remains that American families are struggling on his watch: to pay their bills, find a job and keep their homes. While President Obama all but ignored his record over three and a half years in office, the American people won't. This November, they will hold him accountable for his broken promises and ineffective leadership." –Andrea Saul, Romney Campaign Spokesperson

Today, President Obama Claimed "We Measure Prosperity" By "How Well The Typical Family Is Doing":

President Obama, In Ohio: "We Measure Prosperity Not Just By Our Total GDP ... But How Well The Typical Family Is Doing..." OBAMA: "We measure prosperity not just by our total GDP, not just by how many billionaires we produce, but how well the typical family is doing, whether they can go as far as their dreams and hard work will take them. And we understand that in this country, people succeed when they have a chance to get a decent education and learn new skills and, by the way, so do the businesses that hire them or the companies that they start." (President Barack Obama, Remarks, Columbus, OH, 5/5/12)

How Are American Families Doing In The Obama Economy? Incomes Are Declining, While President Obama's Policies Are Driving Up Household Costs:

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 Obama, Gas Prices Have More Than Doubled From The Nationwide Average Of $1.85 Per Gallon When He Was Sworn Into Office To $3.83 Per Gallon Today. (U.S. Energy Information Administration, www.eia.gov, Accessed 5/3/12)

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)

Obamacare Has Made Health Care "Less Affordable" And Has Caused "Insurance Premiums To Rise." "At the moment, the new law is making health care slightly less affordable. Independent health care experts say the law has caused some insurance premiums to rise. As we wrote in October, the new law has caused about a 1 percent to 3 percent increase in health insurance premiums for employer-sponsored family plans because of requirements for increased benefits. Last year's premium increases cast even more doubt on another promise the president has made - that the health care law would 'lower premiums by up to $2,500 for a typical family per year.'" (D'Angelo Gore, "Promises, Promises," FactCheck.org, 1/4/12)

More Than 2.5 Million Homes Have Been Lost To Foreclosures Nationwide And Another 4 Million "Are In The Foreclosure Process Or Seriously Delinquent." "Meanwhile, 2.5 million homes have been lost to foreclosure since 2009, an additional 4 million are in the foreclosure process or seriously delinquent, and home prices are still falling in much of the U.S., shrinking household wealth for millions of Americans." (Julie Schmit, "What Went Wrong With Foreclosure Aid Programs?," USA Today, 12/12/11)

• "Many Buyers Don't Have Enough Cash For A Down Payment Or Can't Qualify For A Loan." "Sales remain sluggish in part because many buyers don't have enough cash for a down payment or can't qualify for a loan, despite the fact that mortgage rates have fallen to near-record lows, making housing cheap in many markets." (Ben Casselman and Nick Timiraos, "Economic Reports Fan Fears," The Wall Street Journal, 4/19/12)

And Family Members Of All Ages Are Still Struggling To Find Work Because Of President Obama's Failed Economic Policies:

During President Obama's Time In Office, The Nation Has Lost 572,000 Jobs And The Unemployment Rate Has Increased To 8.1%. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/4/12)

• Nearly Twenty-Three Million Americans Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/4/12)

In April 2012 Alone, "More Than 340,000 Workers Dropped Out Of The Labor Force." "April's jobs report was, in a word, disappointing. The economy added only 115,000 jobs. Hiring slowed. More than 340,000 workers dropped out of the labor force." (Charles Riley, "Why Obama Can't Match The Reagan Recovery," CNN Money, 5/4/12)

Women Account For More Than 99 Percent Of The Jobs Lost Under President Obama. (Bureau Of Labor Statistics, www.bls.gov, Accessed 5/4/12)

More Than Half Of All Recent College Graduates Under The Age Of 25 Were "Jobless Or Underemployed, The Highest Share In At Least 11 Years." "About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields." (Hope Yen, "1 In 2 New Graduates Are Jobless Or Underemployed," The Associated Press, 4/22/12)

"Only One In Four U.S. Teenagers Held A Job In 2011, The Smallest Percentage In Decades And Half What It Was In 1999-2000." "Teenaged workers, whether it was students seeking summer jobs or school dropouts and graduates looking for full-time work, were particularly hard-hit by joblessness. Only one in four U.S. teenagers held a job in 2011, the smallest percentage in decades and half what it was in 1999-2000." (Andrew Stern, "Job Market Hurt Teens Most: Study," Reuters, 1/24/12)