Mitt Romney to officially announce presidential candidacy in New Hampshire

Steven Nelson Associate Editor
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Former Massachusetts Gov. Mitt Romney will officially announce his candidacy for president Thursday. The announcement will be made slightly after noon in New Hampshire.

According to Romney’s prepared remarks, he will declare that “Barack Obama has failed America.”

Romney will allege that, “Government under President Obama has grown to consume almost 40% of our economy. We are only inches away from ceasing to be a free market economy.”

One proposal within the speech is a federal spending cap at 20 percent of GDP and a balanced budget.

“I will insist that Washington learns to respect the constitution, including the 10th amendment,” Romney will say. “We will return responsibility and authority to the states for dozens of government programs – and that begins with a complete repeal of Obamacare.”

The speech will be live-streamed on a Facebook page for the event.

The Democratic National Committee released a video Thursday attacking Romney as a “flip-flopper” on health care and bailout policies.

A senior campaign advisor says that the announcement will pitch Romney as a candidate who has “the ability to lead an economic turnaround.”