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Romney Says Obama Fails on Economy as Storm Threat Looms

Republican challenger Mitt Romney, without providing further details of his own plans, used what his campaign billed as a major economic speech to denounce President Barack Obama’s policies and leadership.

In a speech in the battleground state of Iowa, Romney said the president “doesn’t have any prospect of meeting the challenges of the times.” He also again pledged to begin balancing the federal budget, create 12 million jobs over four years and quicken the pace of U.S. economic growth to 4 percent annually.