Says Barack Obama said, "If we keep talking about the economy, we’re going to lose." Mitt Romney on Monday, November 21st, 2011 in a television ad
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The clear implication is that Obama believes that his economic record is so bad that he will lose in 2012 unless he can steer the conversation away from the economy.
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So the comment is drastically different than the way it's portrayed in the Romney ad. Obama was actually saying that his opponent’s campaign three years earlier had said, "If we keep talking about the economy, we're going to lose." That context is not included in the Romney ad -- and leaving it out sends a profoundly different message.
Our ruling
We certainly think it’s fair for Romney to attack Obama for his response to the economy. And the Romney camp can argue that Obama’s situation in 2011 is ironic considering the comments he made in 2008. But
those points could have been made without distorting Obama’s words, which have been taken out of context in a ridiculously misleading way. We rate the Romney ad’s portrayal of Obama’s 2008 comments Pants on Fire.http://www.politifact.com/truth-o-meter/statements/2011/nov/22/mitt-romney/mitt-romney-says-obama-said-if-we-keep-talking-abo/