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Four years later: A look at our economy

Four years ago, President Obama took office amid the worst economic crisis since the Great Depression. Our economy bled millions of jobs thanks to the economic policies that Mitt Romney hopes to return to. But under the President’s leadership, the economy has added 5.2 million private sector jobs over the last 31 months. The U.S. auto industry is roaring back, adding new auto jobs across the country.

While we’re on the right track, there’s still more to do. But it’s important to note the progress we’ve made and how the policies President Obama is putting in place are helping strengthen our economy. Take a look at some key economic measures of where we stand today:

  • 31 straight months of private sector job growth

  • Largest one-year drop in unemployment rate since February 1995

  • Highest private sector employment since 2008

  • Best manufacturing job gains since the mid-1990s

  • Highest manufacturing output in four years

  • Consumer confidence at highest level in five years

  • Lowest foreclosure rate in five years

  • Home prices seeing strongest growth since late 2006

  • Household net worth at highest since 2008

  • Mortgage refinancings recently hit their highest levels since early 2009

  • GDP at an all-time high with 13 straight quarters of economic growth

  • Best auto industry job growth since 1997

  • Highest number of car sales since 2008

  • Motor vehicle and parts output hit highest levels ever in July

  • Business investment in equipment and software at highest level of all time

  • U.S. monthly exports are up 41%

  • Stock market at its highest point in more than four years

  • Retirement assets at highest levels ever

There’s more work to be done to put our economy on a strong foundation that’s built from the middle class out. On top of continuing this progress, the President has a clear and detailed plan to create 1 million manufacturing jobs, double U.S. exports, cut college tuition growth in half, recruit 100,000 math and science teachers, cut net oil imports in half, reduce the deficit by more than $4 trillion, and use savings from ending overseas operations to pay down the deficit and re-invest in nation building here at home. That’s the economic vision President Obama has put forth.

By contrast, Romney is promising to take us back to the policies that pushed America into the economic recession in the first place. He’s promised to repeal Wall Street reform while remaining silent on how he’d prevent Wall Street from engaging in the risky practices that helped cause the 2008 financial crisis. He’s pushing a plan that pays for tax cuts for millionaires and billionaires by raising taxes on the middle class. He’s pledged to “kill” Obamacare and return to a time when insurance companies spent less on care and more on premiums. And his tax proposal could create 800,000 jobs overseas instead of here at home.

As the President has said, “We can’t afford to go back to the policies that got us into this mess. We’ve got to continue with the policies that are getting us out of the mess. We’ve got to move forward.”

Share the facts with your friends and make sure you vote on Nov. 6th so we can move forward together, not back.