June 12th, 2012
05:39 PM ET
6 years ago

Obama jabs Romney over economy

(CNN) – President Barack Obama delivered harsh lines against his Republican rival on Tuesday, saying while he was impressed with Mitt Romney's corporate career, the presumptive GOP nominee had "drawn the wrong lessons from these experiences."

"When I hear governor Romney say his 25 years in the private sector gives him a special understanding of how the economy works, my question is why are you running with the same bad ideas that brought our economy to the brink of disaster?" Obama said at a campaign fund-raiser in Baltimore.

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The president took a swipe at Romney's economic policies, which oppose tax hikes on the wealthy.

His comments came as both candidates accuse each other of being "out of touch." Obama, referring to himself as someone who has "spent time in the real world," hinted that Romney had a misguided orthodoxy on the way the economy operates.

"The challenge we are facing is that for over a decade, harder work hasn't led to higher incomes," he said. "Bigger profits at the top haven't led to better jobs across the board. You can't solve that problem if you can't even see it."

The debate over the economy rose to new heights in the last few days after Obama took heat for saying the private sector was "doing fine" while suggesting the public sector needed a boost.

Hitting back, Romney, made the case that the federal government needs to decrease, not increase, spending on public jobs, including those for fire fighters, police and teachers.

Both candidates' comments have since spiraled into war on words, prompting a debate over whether a stronger private sector or more robust public sector would best stimulate the economy.

Talking about deficit-reduction measures, Obama joked Tuesday that he loves "listening to (Republicans) give us lectures on debt and deficits" and pointed out the trillion-dollar deficit he inherited.

"It's like somebody goes to a restaurant, orders a big steak dinner, martini, all that stuff. And then, just as you're sitting down, they leave," he said to laughter. "And accuse you of running up the tab."

The event marked one of six fund-raisers for Obama on Tuesday, half in Maryland, the other half in Pennsylvania. The president could raise at least $3.6 million at the events.

All proceeds from the events to go the Obama Victory Fund, a joint fundraising committee of the Obama re-election campaign, the Democratic National Committee and several state Democratic parties.

Also see:

Obama radio spot aims at black voters

Poll gives Obama edge in Pennsylvania

Obama campaign hits Romney's Massachusetts record in second TV ad

Filed under: 2012 • Florida • Maryland • Mitt Romney • President Obama
soundoff (96 Responses)
  1. warren

    if we vote rommey in. We deserve everything we get!

    June 13, 2012 01:09 am at 1:09 am |
  2. Name @ bend for America

    Did you really say that Obama only wishes to be as successful as Romney? Lol. Last time I checked Obama was president of the United States; something Romney strives to be. Oh yea Obama is a successful author and has done more for this country than Romney could ever dream of doing. I think the you have it backwards- Romney wishes to be as successful as Obama – get real

    June 13, 2012 01:10 am at 1:10 am |
  3. Ralph N

    Obama couldn't keep his foot out of his mouth to save his life. Oh well, "the economy is doing fine."

    June 13, 2012 01:19 am at 1:19 am |
  4. Darrell

    Obama 2012 – BEND Forward America, take another 4 long years of FAILURE...I love your posts because they make me laugh. In your post, you failed to answer the president's question: If you Romney has 25 years of business experience, why does he want to use the same Republican economic playbook that brought us the Great Recession?

    If you, as I believe you have, examined Romney's economic plans they don't differ from what has been tried before under Republican president's like GWB- give rich people/corporations more tax breaks, cut government spending, reduce regulations and hope everything turns our well. This script was tried under GWB and it failed. It is being currently tried in Europe, especially in the UK where is producing a double dip recession, and it is failing.

    Based on his 25 years of business experience, Romney should recognized that, as the president said, you have to do something new instead of using the same old economic playbook that brings failed results. Yet, Romney is not acknowledging that facts before him, like most successful business people, and advocate for policies that actually work. For instance, he could champion the policies of federal government spending money to help state and local government in times of economic down turns. Policies that both Ronald Reagan and Senior Bush used successfully in their presidency to help the economy grow. The same policy president Obama is pushing to help the economy grow.

    So you can bad mouth Obama from not having business experience. But you must recognize that Romney with 25 years of business experience is pushing policies that have failed.

    June 13, 2012 01:31 am at 1:31 am |
  5. Name

    What America needs now is an experienced businessman, not another inexperienced politian. We've had that for the last for years and it hasn't worked.

    June 13, 2012 02:06 am at 2:06 am |
  6. humberto

    But neither candidate addresses the cost of the corrupt bar and courts they sustain as a priviledged right.

    June 13, 2012 02:10 am at 2:10 am |
  7. Name Catherine Morency

    Listening to Romney is like listening to George W. Bush, or George H.W. Bush. The difference is the appearance and voice of the speaker.

    "It's the same old song but with a different beat...".

    Doesn't anyone but democrats, independents and hers who use their brains REALIZE THAT IT'S A RE-GIFT of the same old fruitcake that Dean Acheson gave to Dwight Eisenhower?

    Eisenhower said, "Beware the military-industrial complex" - I think those were his words. What a prophet he was!

    June 13, 2012 02:55 am at 2:55 am |
  8. Name Catherine Morency

    No Republican has said anything original since former President, Dwight D. Eisenhower, after receiving a fruitcake from former Secretary of State, Dean Acheson, which Eisenhower had given Acheson, when the term, "regifted" hadn't yet been coined, warned, "Beware the military-Industrial complex."

    A prophet.

    June 13, 2012 03:26 am at 3:26 am |
  9. anthony78

    This isn't the "Incorporated States of America".....

    This is a country, not a corporation. Although Mitt believes corporations are people too my friend, he doesn't always believe all people get the same rights and privileges.

    June 13, 2012 03:31 am at 3:31 am |
  10. janet

    I am not sure I understand the need to increase jobs in the public sector. While I see the need for these jobs, public jobs make up only a small minority of the under or unemployed. It would be nice if everyone could be teachers, firemen, and police officers. However, who would be left to provide the paychecks? Contrary to popular belief, President Obama does not have his own STASH of never ending cash.

    June 13, 2012 06:02 am at 6:02 am |
  11. jony

    As long as Romney can keep Obama talking about his failed economy he comes out the clear winner

    June 13, 2012 06:04 am at 6:04 am |
  12. RenDoc

    Spoken like a college professor that never ran a business, met a payroll, had one day of executive experience, has zero finance or business experience and has proven they don't have a flippin' clue about how our economy works, even after 4 years.

    Obama can only DREAM about being as successful as Romney. Obama is truly the living breathing embodiment of the term "empty suit".


    Since when does running a business equate to being a succssful President economically?

    June 13, 2012 06:14 am at 6:14 am |
  13. anoel2005

    Obama had his chance and FAILED.
    Let's give Romney a chance. He's been in the private sector.
    Obama has been on the govt. dole his whole life.

    June 13, 2012 06:23 am at 6:23 am |
  14. Kevin

    It's about time the President started getting tough with these people. Our nations problems were caused by things Republicans did and now they refuse to do anything to change it.

    June 13, 2012 06:31 am at 6:31 am |
  15. Marie MD

    Twenty five years making money from firing American workers, bankprupting companies and making China and India rich in the process.
    @bendwhatever, this is government See above regarding what the bishop did to the US. Step out of the bubble.

    June 13, 2012 06:40 am at 6:40 am |
  16. tjm07

    What Obama and his staff know about the economy and how it works wouldn't fill a thimble...this whole idea that he somehow inherited these problems is based on the democrats having amnesia...he was a member of the US Senate, he voted for each of the measures that raised these economic problems. There are only two ways that he didn't know, the first he is from another planet, the second is that he did not read the bills that he voted on and the results of those actions caught him by surprise. In either case he is unfit to lead an economic recovery.

    June 13, 2012 06:47 am at 6:47 am |
  17. lovethe usaorleave

    So the man that has took millions of workers off the unemployment numbers even though they are still unemployed. Has the lowest number of actual people in the workforce in history, ran his campaign with the promise that an unemployment number over 8% was unacceptable and to date is still over that even with them shifting number to try and make look other wise. Has the audacity to call anyone one out let along a successful business man over how to create jobs. This statement ranks right there with "The private sector is doing fine" it also clearly shows he has no clue of how to be president.

    June 13, 2012 07:02 am at 7:02 am |
  18. Namemac

    Get an education work hard and the gov is merely an annoyance on your paycheck

    June 13, 2012 07:04 am at 7:04 am |
  19. bill Fitzgerald

    Take a look into the private lives of Romney and Obama. Romney spends his time serving in his family, community and church since his youth. What does obama do? Golf? Romney has this guy beat on experience and character.

    June 13, 2012 07:23 am at 7:23 am |
  20. jimmy

    We are living the dream of obama. We dont have to hear statistics. Obama is killing us. And he has the nerve to talk junk against Rom? Obama is out of touch he must go.

    June 13, 2012 07:27 am at 7:27 am |
  21. TimM

    Here is the biggest question that everyone should be asking..."Which sector, private or public, do most everyday Joes belong to. The private sector is what employs most people, not the public. If you want more public sector jobs, yes that stimulates the economy in the short term (more people spending), but the overall economy is worse due to the added costs associated with those public sector jobs. The fix to our economy is to REDUCE SPENDING AND RAISE REVENUES (Revenu raises could be achieved by TAX REFORM). This two pronged approach should make everyone happy.

    June 13, 2012 07:44 am at 7:44 am |
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