This week, we saw several reminders of the clear choice we face in this election -- and why we can't afford four more years like the last four years.
First came a new economic study about the debt that President Obama has put in place and, of course, about the debt that he's planning on adding in a second term. Simply to pay the interest this debt, middle-class families will face a $4,000-a-year tax hike. That's a direct consequence of the President's failure to rein in spending. And it's a very heavy, unacceptable burden for families who are already stretched too thin.
Second was the debate in Denver. President Obama could not defend his record. He offered no new ideas for how to fix the economy. I welcomed the chance to share my vision for renewed prosperity and opportunity, and I think it compared quite favorably to President Obama's desire for big, trickle-down government.
And then finally, on Friday morning we received the latest monthly jobs report. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we've lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11%.
The results of President Obama's failed policies are staggering -- 23 million Americans are struggling for work, nearly one in six are living in poverty, and 47 million people are dependent on food stamps to feed themselves and their families.
What we need is a real recovery -- and, unlike the President, that's exactly what I'm offering.
On the economy, President Obama's plans for a second term all come down to more taxes, more borrowing, and more spending. My Plan for a Stronger Middle Class will lead to rising incomes for everyone and create 12 million new jobs in my first term alone.
On healthcare, the President will implement Obamacare, with its trillion-dollar tax hike and massive raid on Medicare. I will repeal Obamacare -- and replace it with real reforms that provide better and more affordable care.
On debt, President Obama will only dig a deeper hole. I will cut spending, restore our AAA credit rating, and balance our budget within a decade.
The choice in this election is clear. Under President Obama, we will have a stagnant economy that fosters government dependency and chronically high unemployment. But if you elect me as president, we'll have pro-growth policies that foster upward mobility, strengthen the middle class, and lift people out of poverty.
That's the choice in this election. And that's why I'm asking for your support on November 6th.