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Economy

President Obama’s number one priority is strengthening the middle class by creating jobs and growing the economy. That’s his North Star. President Obama strongly believes we need to replace the sequester with balanced deficit reduction because these cuts will hurt the middle class.

If sequestration were to take effect, some examples of the impacts on Kentucky this year alone are:

Teachers and Schools: Kentucky will lose approximately $11.8 million in funding for primary and secondary education, putting around 160 teacher and aide jobs at risk. In addition about 21,000 fewer students would be served and approximately 40 fewer schools would receive funding.

President Clinton believes that voters face a clear choice in this election between two fundamentally different visions of how to grow the economy, create middle-class jobs and pay down the debt.

President Obama is welcoming Congressman Paul Ryan to the race and believes he’s an articulate spokesman for Mitt Romney’s top-down economic vision – a vision the President fundamentally disagrees with.

Romney and Ryan are committed to a flawed economic theory – that giving the wealthy more budget-busting tax breaks and placing greater burdens on the middle class and seniors will somehow strengthen our economy.

Continuing Our Recovery: Businesses created 172,000 new jobs in July, continuing our recovery from the worst economic crisis since the Great Depression. The private sector has added a total of 4.5 million new jobs over the past 29 consecutive months of growth.

Mitt Romney has been deliberately twisting President Obama’s words around to falsely suggest that the President doesn’t value small businesses or the entrepreneurial spirit that built this country. His distortions and accusations are flat-out wrong.

Romney Economics: Today Mitt Romney is at a small business in Florida, claiming again that his business experience will help it and other small businesses grow. But small business activity slowed dramatically in Romney’s Massachusetts. Romney Economics didn’t work then and it won’t work now.

Massachusetts Under Romney: He failed to create an economic environment that would attract entrepreneurs and encourage small business owners to grow and hire.

On CBS’s “Face the Nation” Sunday, Romney again tried to link his own tax and fiscal plan with the recommendations of the President's Simpson-Bowles budget commission.

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:

Today the campaign released a new part of RomneyEconomics.com , an interactive map that highlights where Mitt Romney’s economic philosophy left companies bankrupt and Americans without jobs.

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