Mitt Romney: Obama Doesn't Understand How The Economy Works

WASHINGTON -- Mitt Romney is trying to counter President Barack Obama's argument that he would bring back Republican Party economic policies that have proved unworkable.

Romney told Fox News Channel's "Fox & Friends" that Obama is attacking capitalism while trying to drive America toward a European-style, government-dominated society.

He was asked about Rush Limbaugh's recent assertion that Obama's running a campaign against capitalism. "It certainly sounds like that’s what he’s doing," he said. “There is no question but that he’s attacking capitalism. in part I think because he doesn’t understand how the free economy works. He’s never had a job in the free economy, neither has Vice President Biden."

Romney said: "It's kind of funny listening to him." The former Massachusetts governor, who is a shoo-in for the GOP presidential nomination, asserts that today's economic problems are more Obama's fault than the responsibility of the Republicans.

Defending Bain Capital, he cited a statistic from the company. "They made about 350 investments since the beginning of the firm, and of those investments, 80 percent of them grew their revenues." However, the AP points out that it doesn't necessarily mean that the company's bottom line or jobs numbers improved.

He said in the interview broadcast Thursday that the problems "start with" Obama's health care, saying "let's get rid of it." He also accuses Obama of kowtowing to teachers unions that support him, arguing that it's time to "put the unions behind, put the kids first."

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