Romney Campaign Press Release - The Obama Economy Hits Another Wall

"Millions of middle-class Americans are struggling in the Obama economy and there's no relief in sight. After three and a half years, the results of President Obama's policies are clear: businesses aren't hiring, poverty is climbing, and manufacturing is weakening. Middle-class Americans need a new direction, and a new president who can get our economy back on track." — Andrea Saul, Romney Campaign Spokesperson

Last Week, Increases In State Unemployment Rates Highlighted "Growing Cracks" In The Obama Economy:

"As Growth Has Stalled This Year, So Has The Improvement In Unemployment, Now Stuck At 8.2%." (Tim Mullaney and Paul Davidson, "Fragile Economic Recovery Shows Growing Cracks," USA Today, 7/21/12)

"Three Years Into Its Recovery, The Economy Is Once Again On A Rough Road." (Tim Mullaney and Paul Davidson, "Fragile Economic Recovery Shows Growing Cracks," USA Today, 7/21/12)

"The Jobless Rate Rose In More Than Half The States..." "The national unemployment rate stood at 8.2% in June, the same as the prior month, the Labor Department said earlier this month. Friday, the agency released further details showing that the jobless rate rose in more than half the states, dropped in 11 states and Washington, D.C., and held steady in a dozen states." (Josh Mitchell, "State Data Highlight Limp Job Market," The Wall Street Journal, 7/20/12)

In June, Unemployment Increased In "Six Of 10 Battleground States." "Unemployment rose in June in six of 10 battleground states that could play a pivotal role in the presidential election, reflecting job cuts in some cases and weak payroll growth in others." (Josh Mitchell, "Unemployment Rises In Six Of 10 Battleground States," The Wall Street Journal, 6/20/12)

"The Economy Is Struggling To Generate Enough Growth To Boost Hiring And Consumer Spending From Subpar Levels." (Christopher Rugaber, "Unemployment Rates Rose In 27 US States In June" The Associated Press, 7/20/12)

The Associated Press: "A Reflection Of Weaker Hiring Nationwide." "Unemployment rates rose in 27 U.S. states last month, the most in almost a year and a reflection of weaker hiring nationwide." (Christopher Rugaber, "Unemployment Rates Rose In 27 US States In June" The Associated Press, 7/20/12)

USA Today: "Fragile Economic Recovery Shows Growing Cracks" (Tim Mullaney and Paul Davidson, "Fragile Economic Recovery Shows Growing Cracks," USA Today, 7/21/12)

And While Unemployment Rates Continued To Climb Across The Nation, Other Key Indicators Showed Even More Struggles For Middle-Class Americans:

"The Ranks Of America's Poor Are On Track To Climb To Levels Unseen In Nearly Half A Century..." "The ranks of America's poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net." (Hope Yen, "US Poverty On Track To Rise To Highest Since 1960s," The Associated Press, 7/22/12)

• "Poverty Is Spreading At Record Levels" Across The Country. "Poverty is spreading at record levels across many groups, from underemployed workers and suburban families to the poorest poor. More discouraged workers are giving up on the job market, leaving them vulnerable as unemployment aid begins to run out. Suburbs are seeing increases in poverty, including in such political battlegrounds as Colorado, Florida and Nevada, where voters are coping with a new norm of living hand to mouth." (Hope Yen, "US Poverty On Track To Rise To Highest Since 1960s," The Associated Press, 7/22/12)

"In June, 22 Of 30 U.S. Economic-Data Reports Also Missed Forecasts..." "Economic forecasts are coming down all over Wall Street: Goldman Sachs and Deutsche Bank both cut forecasts of second-quarter growth to just over 1%. Companies from chipmaker Intel to Morgan Stanley have missed or lowered earnings forecasts — 99 companies in the Standard & Poor's 500 lowered second-quarter projections. In June, 22 of 30 U.S. economic-data reports also missed forecasts, Merrill said." (Tim Mullaney and Paul Davidson, "Fragile Economic Recovery Shows Growing Cracks," USA Today, 7/21/12)

Hiring Remained "Tepid" While Manufacturing Weakened In Most Regions And Retail Sales Fell For The Third Straight Month. "On Wednesday, a survey by the Fed said hiring was 'tepid' in most of its districts in June and early July. And manufacturing weakened in most regions. Retail sales fell in June for the third straight month, the government said this week. That led many economists to downgrade their estimates for growth in the April-June quarter. Many think it will be even slower than the first quarter's scant 1.9 percent annual pace." (Christopher Rugaber, "Unemployment Rates Rose In 27 US States In June" The Associated Press, 7/20/12)

Home Resales Slumped To Their Lowest Level In Eight Months. "Other reports on Thursday showed home resales slumped to their lowest level in eight months in June and a gauge of future economic activity slipped last month, more evidence the economy has slowed significantly in recent months." (Lucia Mutikani, "Data Show U.S. Economy Mired In Weakness," Reuters, 7/19/12)

Factory Activity In The Mid-Atlantic Contracted For A Third Straight Month. "The slowdown in the U.S. economy persisted early in the third quarter with factory activity in the U.S. Mid-Atlantic region contracting in July for a third straight month and new claims for jobless aid surging last week." (Lucia Mutikani, "Data Show U.S. Economy Mired In Weakness," Reuters, 7/19/12)