Republican presidential nominee Mitt Romney said President Barack Obama’s policies have not helped America’s economy grow compared to countries like China because his administration invests in “losers” and wants more “stimulus” spending.
“China’s growing much faster than we, Russia’s growing much faster than we. Our economy needs to be reinvigorated and the president has laid out his plan. It’s a continuation of the old plan. We can’t afford four more years of the last four years, all right? His plan cuts the military. His plan asks for another stimulus. How’d that last one work, by the way?” Romney asked during a campaign event in Springfield, Va. on Thursday.
“His plan calls for the government being able to invest in winners and losers, or in their case, losers, and his plan also calls for trillion dollar deficits… that debt is owned by somebody. Someone holds that. That puts America in a position of economic risk, fiscal risk.”
In the past, Romney has been critical of the Obama administration’s decision to provide $535 million in loan guarantees to the solar power company Solyndra, which went bankrupt in 2011.
Romney, who vowed not to cut the size of the military in his speech, said the U.S. economy is growing at a rate of 1.3 percent, which is “about a quarter of the rate of Russia’s.” He said voters have a choice between two “very different paths” for the country.
“One is the path the president’s proposed, which is the status quo. His is the path, well, he calls it forward. I call it forewarned,” Romney said.
“It is the same policies he’s put in place over the last four years and they have not worked and if you don’t believe me, well, look at the price of gasoline and look at the jobs in your community and the members of your family that are struggling for good work.”
Obama has “put us on a road to Europe,” Romney charged.
“Europe doesn’t work in Europe. I want to get us back to America where people here come here, build enterprises here, we fulfill American dreams, we keep the hope alive in America,” he said.