Obama, Romney agree: it's still the economy

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Associated Press

Posted on November 4, 2012 at 10:05 AM

Updated Sunday, Nov 4 at 10:05 AM

WASHINGTON (AP) — Two decades after candidate Bill Clinton's aides coined the phrase, it's still "the economy, stupid."

If President Obama and Mitt Romney agree on anything, it's this: America's economic prospects will decide the outcome of Tuesday's election.

On Friday, in the last pre-election employment report, the government found a net gain of 171,000 jobs in October.

But Mitt Romney noted the jobless rate -- which ticked up to 7.9 percent -- is still higher than when Obama took office. He declared the economy at a "virtual standstill."

The president maintains the numbers show a recovery gathering strength. U.S. companies are adding workers at their fastest pace in eight months.

Still, Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.

%@AP Links

001-w-37-(Mark Smith, AP White House correspondent, with President Obama and Mitt Romney, GOP presidential candidate and Oya Oliver, president, Fredericksburg Food Bank and and Tim O'Hara, vice president, UAW local 1112)--On this final weekend before Election Day, there seems little doubt the campaign's come down to one issue: the economy. AP White House Correspondent Mark Smith reports. (4 Nov 2012)

<<CUT *001 (11/04/12)>> 00:37

002-c-21-(Mark Smith, AP White House correspondent)-"in eight months"-AP White House Correspondent Mark Smith reports the economy, like the election itself, is closely split. (4 Nov 2012)

<<CUT *002 (11/04/12)>> 00:21 "in eight months"

003-a-12-(Professor Paul Beck, Ohio State University, in AP interview)-"industry in Ohio"-Ohio State Professor Paul Beck says in the nation's top battleground, the candidates are waging their fiercest fight over the economy. (4 Nov 2012)

<<CUT *003 (11/04/12)>> 00:12 "industry in Ohio"

004-a-10-(Professor Jason Seligman, Ohio State University, in AP interview)-"world's best cars (second reference)"-Ohio State Professor Jason Seligman says Ohio is emblematic of the rebound in manufacturing. (4 Nov 2012)

<<CUT *004 (11/04/12)>> 00:10 "world's best cars (second reference)"

005-a-09-(Tim O'Hara, vice president, United Auto Workers local 1112, in AP interview)-"economy is headed"-Auto workers union official Tim O'Hara says the Ohio economy's still struggling, but it's clearly doing better. ((longer version of cut in wrap)) (4 Nov 2012)

<<CUT *005 (11/04/12)>> 00:09 "economy is headed"

006-a-12-(Norman Ornsteen (ORN'-steen), resident scholar, American Enterprise Institute)-"get significant disappointment"-Analyst Norman Ornstein of the American Enterprise Institute says the president's disappointed even his staunchest backers when it comes to the economy. (4 Nov 2012)

<<CUT *006 (11/04/12)>> 00:12 "get significant disappointment"

007-a-15-(Norman Ornsteen (ORN'-steen), resident scholar, American Enterprise Institute)-"shine is off"-Analyst Norman Ornstein of the American Enterprise Institute says the economy works both for and against Obama. (4 Nov 2012)

<<CUT *007 (11/04/12)>> 00:15 "shine is off"

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