Romney: Obama 'admits defeat' on economy

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BOSTON, Aug. 25 (UPI) -- Republican presidential candidate Mitt Romney Saturday charged President Obama has thrown in the towel on the U.S. economy.

In his weekly podcast, Romney cited economic data showing a decline in household income and rising unemployment in 44 states.

"Last month, more families were shattered, more hearts ached, and more children wondered if they'd ever see their parents smile again ... because the hope of a recovery that should have been ours grew dimmer in 44 states," he said.

"Anxiety has never been higher. Another new report out of Washington warns that higher unemployment and a double-dip recession will be a reality next year unless immediate steps are taken to avert what they're calling a 'fiscal cliff.'"

He faulted Obama for declaring a stalemate in Washington and going out to campaign for re-election "instead of united our nation in this time of crisis."

"In all 50 states, Americans are looking to the White House for leadership. But all they're getting from their president is fear, frustration, and blame," Romney said.

"With millions of Americans hurting like never before, the [resident has admitted defeat. With five months to go before his term his up, he's saying he won't even try anymore.

"Isn't this a devastating verdict on his own failure to lead?"