On August 8, 2011, MSNBC's First Read reported:
"When President Obama came into office, the most important thing — job he had immediately in front of him was to get the economy turned around." Romney said. "We still have unemployment above 8%. In fact, it's above 9%, and we're three years into his four year term. Focusing on the economy was job one."
He told his audience of more than 50 Rotarians that the president's inability to create jobs and re-energize the sagging economy led to the S&P decision that the nation's balance sheet was out of order.
Speaking to reporters beforehand, Romney promised that if elected he would use his experience helping Massachusetts upgrade its credit rating last decade to do the same for the United States — a feat one Democratic group pointed out was helped by raising revenues, a prescription which is not part of Romney's overall plan now.
"As Mitt Romney is out on the stump taking credit for Massachusetts ratings upgrade, he is conspicuously leaving out that he was able to achieve this by raising revenue," said Ty Matsdorf of American Bridge in a memo released this morning. "Perhaps it is because just last week he was decrying the president for trying to take the same balanced approach to solving the debt ceiling crisis."