On a New Hampshire farm, Gov. Romney officially entered the 2012 presidential race. Romney's speech focused primarily on the economy and particularly the unemployment rate. Romney said that President Obama has had his chance to prove whether or not he can handle economic challenges, but now it is clear that Obama has "failed" when it came creating jobs in this country.
Current unemployment is 9.1% and rising once again for the third straight month. Economists project that unemployment rates will not improve significantly between now and election day. Economists project that the unemployment rate on election day will be between 7.8% and 8.5%.
No president since World War II has won reelection when the unemployment rate was above 7.2%, according to the New York Times.
The slow recovery of the economy is creating a huge opening for the Republican nominee to take the White House in 2012.