Romney Speech in Iowa

Some excerpts from Mitt Romney's speech today in Iowa:  (Complete Text here.)

"President Obama is an old school liberal whose first instinct is to see free enterprise as the villain and government as the hero. America counted on President Obama to rescue the economy, tame the deficit and help create jobs.  Instead, he bailed out the public-sector, gave billions of dollars to the companies of his friends, and added almost as much debt as all the prior presidents combined.
The consequence is that we are enduring the most tepid recovery in modern history.
The consequence is that half of the kids graduating from college can't find a job that uses their skills. Half.
The consequence is that retirees can no longer get by on savings and Social Security.
The consequence is that the length of time it takes an unemployed worker to find a job is the longest on record.
This is why even those who voted for Barack Obama are disappointed in him.
Disappointment is the key in which the President's re-election is being played. Americans will not settle for four more years of the same melancholy song. We can and we must do better.
President Obama started out with a near trillion-dollar stimulus package – the biggest, most careless one-time expenditure by the federal government in history.  And remember this: the stimulus wasn’t just wasted – it was borrowed and wasted.  We still owe the money, we’re still paying interest on it, and it’ll be that way long after this presidency ends.
Then there was Obamacare.  Even now nobody knows what it will actually cost.  And that uncertainty has slowed our economy.  Employers delay hiring and entrepreneurs put the brakes on starting new businesses, because of a massive, European-style entitlement that Americans didn’t want and can’t afford.
When you add up his policies, this President has increased the national debt by five trillion dollars.
Let me put that in a way we can understand. Your household's share of government debt and unfunded liabilities has reached more than $520,000 under this president. Think about what that means. Your household will be taxed year after year with the interest cost of that debt and with the principal payments for those liabilities. Of course, it won't be paid off by the adults in your household.  It will be passed along to your children. They will struggle throughout their lives with the interest on our debts--and President Obama is adding to them every single day.
And that's the best case scenario. The interest rate on that debt is bound to go up, like an adjustable mortgage. And there's a good chance this debt could cause us to hit a Greece-like wall."