Republican challenger Mitt Romney, without providing further details of his own plans, used what his campaign billed as a major economic speech to denounce President Barack Obama’s policies and leadership.
In a speech in the battleground state of Iowa, Romney said the president “doesn’t have any prospect of meeting the challenges of the times.” He also again pledged to begin balancing the federal budget, create 12 million jobs over four years and quicken the pace of U.S. economic growth to 4 percent annually.
Adopting the theme that helped Obama win the presidency in 2008, Romney said he and running mate Paul Ryan represent “real change, change that offers promise, promise that the future will be better than the past.”
Romney’s speech suggested the challenger will focus in the campaign’s remaining days on attacking Obama’s stewardship of the economy rather than outlining any new proposals. Romney closed the day with a joint rally with Ryan in North Canton, Ohio. Obama took a day off from the campaign trail yesterday, presenting his message from Washington with media interviews.
With Hurricane Sandy heading toward the East Coast, Obama is scheduled to keep travel plans today to a campaign rally in Nashua, New Hampshire, where singer James Taylor will perform. Romney is expected to campaign in Florida.
[h=2]‘Frankenstorm’ Threat[/h] Even so, the threat of “Frankenstorm,” a nickname assigned by the National Weather Service, is already affecting the campaign schedule along the East Coast. Romney’s campaign cited the storm in canceling a weekend campaign event in Virginia Beach, Virginia. The campaign is evaluating whether to go ahead with two other Virginia events.
If the storm hits Washington early next week, it could also affect the president’s travel plans. Landing in Akron yesterday, after his Iowa speech, Romney held a tele-town hall with Virginia voters from the airport.
Romney’s Iowa speech came hours after the U.S. Commerce Department said gross domestic product rose at a 2 percent annual rate in the third quarter after climbing 1.3 percent in the prior three months. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.
Romney called the figures disappointing, and said Obama’s “misguided” policies “slowed the recovery” from the recession the Democrat inherited when he took office. Romney recited his five-point economic plan without offering new specifics.
[h=2]Economic Reports[/h] The GDP report is one of two to be released by the government before voters go to the polls on Nov. 6 in a presidential race in which the economy is the dominant issue. On Nov. 2, four days before Election Day, the Labor Department will issue unemployment data for October.
Payrolls rose 114,000 in September after climbing 142,000 in August, while the unemployment rate dropped to a three-year low of 7.8 percent, the first time it has been under 8 percent in 43 months.
In Ohio, another of the nine states where both campaigns say the election will be decided, Obama said on Oct. 25 that it was Romney who was proposing solutions -- such as lower tax rates for all Americans, including the wealthiest -- that have failed.
“We just tried that philosophy in the decade before I took office,” Obama said in Cleveland. “And we know what happened. It didn’t work.”
The nine battleground states account for 110 of the 270 Electoral College votes needed to win the presidency.
[h=2]Ohio Poll[/h] In Ohio, a pivotal state with a history of supporting winning presidential candidates, a CNN/ORC poll of its likely voters released yesterday shows Obama ahead. The president was backed by 50 percent and Romney by 46 percent in the Oct. 23-25 survey of 741 likely voters. The poll’s margin of error is plus or minus 3.5 percentage points.
Romney said yesterday in Iowa that it’s Obama’s push to raise taxes on the wealthiest Americans and his attempts to jump start the economy that haven’t succeeded.
“This is not the time to double down on trickle-down government policies that have failed us,” the former Massachusetts governor said. “It’s time for new, bold changes that measure up to the moment and can bring America’s families the certainty that the future will be better than the past.”
At last night’s rally in North Canton, Romney continued on that theme, saying that re-electing Obama would preserve a status quo that hasn’t worked.
“He calls it ‘forward,’” Romney said, referring to Obama’s campaign slogan. ‘I call it ’forewarned.’’’
[h=2]Obama’s Argument[/h] Lis Smith, an Obama campaign spokeswoman, said Romney hasn’t offered anything new and that his proposals would have little impact on the recovery while benefiting the nation’s wealthiest taxpayers.
Romney’s “most recent ‘major policy speech’ included dishonest attacks and empty promises of change but no new policy,” Smith said in a statement.
Obama has had a series of positive economic reports in recent weeks to point to as he argues that his policies are helping to accelerate the recovery from the worst recession in more than seven decades.
Retail sales in September and August had the best back-to- back showing since late 2010. Cars and light trucks sold at a 14.9 million annual pace in September, the strongest since March 2008, according to Ward’s Automotive Group, as Chrysler Group LLC and General Motors Co. (GM), which were bailed out under Obama, reported gains.
Another area of improvement is the housing market as record-low mortgage rates stoke demand.
[h=2]‘Right Direction’[/h] Alan Krueger, chairman of Obama’s Council of Economic Advisers, said in a blog post that “we have more work to do,” yet yesterday’s GDP report “provides further evidence that the economy is moving in the right direction.”
When Obama took office, gross domestic product was shrinking at an annual rate of 8.9 percent and unemployment was at 7.3 percent. The jobless rate peaked at 10 percent in October 2009. While it fell to 7.8 percent last month, the slow climb out of the recession has increased the number of discouraged workers by 17.1 percent.
Gross federal debt has increased 45.5 percent to $16.2 trillion.
Still, consumer confidence has risen from 37.4 at the time of Obama’s inauguration in January 2009 to 70.3 last month, indicating increasing optimism. The Dow Jones Industrial Average (INDU) has jumped 64.8 percent and household net worth has climbed 22.4 percent.
[h=2]Close Race[/h] Concern about the pace of recovery has remained a powerful force working to Romney’s advantage, keeping the race close.
The latest Washington Post/ABC News national tracking poll shows Romney with 49 percent support among likely voters and Obama with 48 percent support, a result within the survey’s three percentage point margin of error.
Romney also touched on foreign policy yesterday, again arguing that Obama hasn’t fulfilled his promise to raise the standing of the U.S. in the world. He vowed he would be more successful.
“We’ll help the Muslim world combat the spread of extremism; we will dissuade Iran from building a nuclear bomb; we will build enduring relationships throughout Latin America; we’ll partner with China and other great nations to build a more stable and peaceful world,” he said.
To contact the reporters on this story: Margaret Talev in Washington at [email protected]; John McCormick in Chicago at [email protected]
To contact the editor responsible for this story: Jeanne Cummings at [email protected]
In a speech in the battleground state of Iowa, Romney said the president “doesn’t have any prospect of meeting the challenges of the times.” He also again pledged to begin balancing the federal budget, create 12 million jobs over four years and quicken the pace of U.S. economic growth to 4 percent annually.
Adopting the theme that helped Obama win the presidency in 2008, Romney said he and running mate Paul Ryan represent “real change, change that offers promise, promise that the future will be better than the past.”
Romney’s speech suggested the challenger will focus in the campaign’s remaining days on attacking Obama’s stewardship of the economy rather than outlining any new proposals. Romney closed the day with a joint rally with Ryan in North Canton, Ohio. Obama took a day off from the campaign trail yesterday, presenting his message from Washington with media interviews.
With Hurricane Sandy heading toward the East Coast, Obama is scheduled to keep travel plans today to a campaign rally in Nashua, New Hampshire, where singer James Taylor will perform. Romney is expected to campaign in Florida.
[h=2]‘Frankenstorm’ Threat[/h] Even so, the threat of “Frankenstorm,” a nickname assigned by the National Weather Service, is already affecting the campaign schedule along the East Coast. Romney’s campaign cited the storm in canceling a weekend campaign event in Virginia Beach, Virginia. The campaign is evaluating whether to go ahead with two other Virginia events.
If the storm hits Washington early next week, it could also affect the president’s travel plans. Landing in Akron yesterday, after his Iowa speech, Romney held a tele-town hall with Virginia voters from the airport.
Romney’s Iowa speech came hours after the U.S. Commerce Department said gross domestic product rose at a 2 percent annual rate in the third quarter after climbing 1.3 percent in the prior three months. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.
Romney called the figures disappointing, and said Obama’s “misguided” policies “slowed the recovery” from the recession the Democrat inherited when he took office. Romney recited his five-point economic plan without offering new specifics.
[h=2]Economic Reports[/h] The GDP report is one of two to be released by the government before voters go to the polls on Nov. 6 in a presidential race in which the economy is the dominant issue. On Nov. 2, four days before Election Day, the Labor Department will issue unemployment data for October.
Payrolls rose 114,000 in September after climbing 142,000 in August, while the unemployment rate dropped to a three-year low of 7.8 percent, the first time it has been under 8 percent in 43 months.
In Ohio, another of the nine states where both campaigns say the election will be decided, Obama said on Oct. 25 that it was Romney who was proposing solutions -- such as lower tax rates for all Americans, including the wealthiest -- that have failed.
“We just tried that philosophy in the decade before I took office,” Obama said in Cleveland. “And we know what happened. It didn’t work.”
The nine battleground states account for 110 of the 270 Electoral College votes needed to win the presidency.
[h=2]Ohio Poll[/h] In Ohio, a pivotal state with a history of supporting winning presidential candidates, a CNN/ORC poll of its likely voters released yesterday shows Obama ahead. The president was backed by 50 percent and Romney by 46 percent in the Oct. 23-25 survey of 741 likely voters. The poll’s margin of error is plus or minus 3.5 percentage points.
Romney said yesterday in Iowa that it’s Obama’s push to raise taxes on the wealthiest Americans and his attempts to jump start the economy that haven’t succeeded.
“This is not the time to double down on trickle-down government policies that have failed us,” the former Massachusetts governor said. “It’s time for new, bold changes that measure up to the moment and can bring America’s families the certainty that the future will be better than the past.”
At last night’s rally in North Canton, Romney continued on that theme, saying that re-electing Obama would preserve a status quo that hasn’t worked.
“He calls it ‘forward,’” Romney said, referring to Obama’s campaign slogan. ‘I call it ’forewarned.’’’
[h=2]Obama’s Argument[/h] Lis Smith, an Obama campaign spokeswoman, said Romney hasn’t offered anything new and that his proposals would have little impact on the recovery while benefiting the nation’s wealthiest taxpayers.
Romney’s “most recent ‘major policy speech’ included dishonest attacks and empty promises of change but no new policy,” Smith said in a statement.
Obama has had a series of positive economic reports in recent weeks to point to as he argues that his policies are helping to accelerate the recovery from the worst recession in more than seven decades.
Retail sales in September and August had the best back-to- back showing since late 2010. Cars and light trucks sold at a 14.9 million annual pace in September, the strongest since March 2008, according to Ward’s Automotive Group, as Chrysler Group LLC and General Motors Co. (GM), which were bailed out under Obama, reported gains.
Another area of improvement is the housing market as record-low mortgage rates stoke demand.
[h=2]‘Right Direction’[/h] Alan Krueger, chairman of Obama’s Council of Economic Advisers, said in a blog post that “we have more work to do,” yet yesterday’s GDP report “provides further evidence that the economy is moving in the right direction.”
When Obama took office, gross domestic product was shrinking at an annual rate of 8.9 percent and unemployment was at 7.3 percent. The jobless rate peaked at 10 percent in October 2009. While it fell to 7.8 percent last month, the slow climb out of the recession has increased the number of discouraged workers by 17.1 percent.
Gross federal debt has increased 45.5 percent to $16.2 trillion.
Still, consumer confidence has risen from 37.4 at the time of Obama’s inauguration in January 2009 to 70.3 last month, indicating increasing optimism. The Dow Jones Industrial Average (INDU) has jumped 64.8 percent and household net worth has climbed 22.4 percent.
[h=2]Close Race[/h] Concern about the pace of recovery has remained a powerful force working to Romney’s advantage, keeping the race close.
The latest Washington Post/ABC News national tracking poll shows Romney with 49 percent support among likely voters and Obama with 48 percent support, a result within the survey’s three percentage point margin of error.
Romney also touched on foreign policy yesterday, again arguing that Obama hasn’t fulfilled his promise to raise the standing of the U.S. in the world. He vowed he would be more successful.
“We’ll help the Muslim world combat the spread of extremism; we will dissuade Iran from building a nuclear bomb; we will build enduring relationships throughout Latin America; we’ll partner with China and other great nations to build a more stable and peaceful world,” he said.
To contact the reporters on this story: Margaret Talev in Washington at [email protected]; John McCormick in Chicago at [email protected]
To contact the editor responsible for this story: Jeanne Cummings at [email protected]