Obama Smacks Romney From Glass House
NEW YORK (TheStreet) -- President Obama should be careful for criticizing Mitt Romney for racking up debt.
In his latest television ad, Obama's campaign smacks Romney for amassing the greatest state debt in 2007 -- Romney's last year as governor of Massachusetts -- at $18 billion, or $4,153 per capita, according to a 2007 Moody's source used in the ad.
"First in debt, 47th in job creation; that's Romney economics," the video's narrator says. "It didn't work then. It won't work now."
Current total U.S. public outstanding debt is at $15.74 trillion, about $11 trillion of which is held by the public, and $4.74 is intra-governmental holdings, according to the Treasury Department's Bureau of the Public Debt.
Obama's decision to attack Romney's governor record on debt and unemployment could prove tricky as U.S. debt continues to climb to historically high levels and as national unemployment -- currently at 8.2% -- continues to stall.
-- Written by Joe Deaux in New York.
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