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President Obama Lays Out Clear Choice Between Going Forward and Backward; Romney Begins “Middle Class Under the Bus” Tour in NH

President Obama believes we need to invest in education, energy, innovation and infrastructure and reform our tax system to create good jobs, grow our economy and pay down the debt in a balanced way. Mitt Romney believes we need more budget-busting tax cuts for the wealthiest and fewer rules for Wall Street – the same failed formula that benefitted a few, but crashed our economy and hurt the middle class.

President Obama gave the first in a series of speeches yesterday laying out the clear choice in this election – between moving forward and creating an economy built to last, or going backward to the failed policies of the past decade. Mayors, teachers and business leaders across the country support his vision for moving America forward. To create jobs, reduce our deficit and grow our economy from the middle class out, he believes we must:

  • Education: Invest in good teachers and help more students go to college and get job training – not pack kids into crowded classrooms and slash scholarships.
    Energy: Invest in promising sources of energy, like wind, solar, clean coal, biofuels, nuclear and natural gas, to create a market for innovation and good jobs of the future – not go back to relying heavily on foreign oil or subsidizing Big Oil.
  • Innovation: Invest in our best scientists, researchers and entrepreneurs so they innovate here – not cede leadership to countries like China and India.
  • Infrastructure: Rebuild our roads, bridges, ports and broadband technology to attract businesses and create jobs here – not pet projects, bridges to nowhere and crumbling infrastructure.
  • Tax Reform: Reward businesses that create jobs here instead of those that send them overseas, and must ask the wealthiest to contribute their fair share again – not give millionaires another tax break at the expense of the middle class.

Mitt Romney is starting a bus tour in New Hampshire today that should be called the “Middle Class Under the Bus” tour. He believes that if you take away protections for consumers and workers and cut taxes even more for the wealthiest Americans, the market will solve all our problems on its own. He would:

  • Roll back financial reform and let Wall Street write its own rules again.
  • Repeal health reform, costing tens of millions their health coverage and allowing insurance companies to discriminate based on preexisting conditions.
  • Provide a $5 trillion tax cut weighted to millionaires and billionaires, blowing a hole in the deficit even as he forces cuts to programs critical to middle-class security, including education, medical research and clean energy.
  • Turn Medicare into a voucher program, when a similar plan showed it would increase costs on seniors by as much as $6,350 a year.
  • Encourage companies to ship jobs overseas by giving them tax breaks.

It didn’t work then, it won’t work now. We tried Romney’s failed formula for most of the last decade. It benefitted a few, but crashed our economy and hurt the middle class. It didn’t grow our economy, create good jobs or pay down our debt – it caused the worst economic crisis since the Great Depression.

  • According to independent economists, Romney’s economic plan would increase the deficit, fail to create new jobs in the short term, and make our economy worse.
  • An economist from Moody’s recently said that implementing all of Romney’s policies “would push us deeper into recession and make the recovery slower.”

The American people can break the stalemate between two fundamentally different visions of how to grow the economy, create middle-class jobs and pay down the debt. They’ll decide which path we take as a nation – not just in the next four years, but for generations to come. That’s what’s at stake in this election. It’s a choice between:

  • An economy built from the top-down, or from the middle class out.
  • Everyone fending for themselves, or everyone pitching in and working together.

Moving backward with Mitt Romney, or moving forward with President Obama.