» Business » Romney warns against Obama's economic policies

Romney warns against Obama's economic policies

By Lalit K Jha
November 03, 2012 11:20 IST
Get Rediff News in your Inbox:

Barack ObamaRepublican presidential candidate Mitt Romney has lashed out at the economic policies of Barack Obama, warning that America could be headed towards another recession if the country does not changes its course.

"I recognise that this President is again making new promises. These are promises he can't keep, just like the last ones, because he says he's going to keep us on the same path we're on.

"And one thing we know is if we stay on this same path, $16 trillion in debt will become $20 trillion in debt.

Unless we change course we may be looking at another recession down the road" he said at a poll rally in Etna Ohio.

Claiming that the unemployment rate would go 'high' in next four years, Romney claimed if the US continued with current economic policies, even those in jobs would suffer due to 'declined take-home pay' and 'stagnant wage growth'.

He also attacked Obama for his handling of defence budget, and accused gim of "devastating" the military.

"So the question for this election, in my view, is that do you want to stay on the same course we're on or do you want real change? Because we represent real change," he said.

Romney, by citing about the 'successful business' he owned and how he made it despite 'starting from scratch', claimed his record of fulfilling promises was better than Obama.

"The President promised change but he didn't deliver it. I'm promising change, and I have a record of achieving it," Romney said.

Meanwhile, Romney's vice presidential running mate Paul Ryan too held meetings in Ohio.

"Four years ago, President Obama said he would do all these great things -- hope and change. He'd cut the deficit in half.

"He'd bring everybody together.

The deficit's doubled. It's the most partisan time we've had. Just look at the jobs that didn't occur," Ryan said in West Chester in Ohio.

The Congressman said this was a time for "big ideas, real reform, for a real recovery".

"This is who Mitt Romney is. Look at this man's life -- achievement, leadership. Look at what he's done in the private sector.

"He helped create tens of thousands of jobs.

"By the way, being successful in business. We want that. We believe in success. We want more of it," Ryan said.

Ryan also credited Romney with 'balancing the budget without raising taxes', and praised him for 'working together' with the Democrats by 'finding a common ground'.

Image: Barack Obama

Get Rediff News in your Inbox:
Lalit K Jha in Washington
Source: PTI© Copyright 2022 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!