Romney announces Paul Ryan as running mate

From Peter Hamby, CNN Political Reporter

Romney introduces Paul Ryan as VP choice

STORY HIGHLIGHTS

• Romney calls Ryan "a faithful Catholic"
• Romney called several Republicans to say they didn't make the cut
• The announcement was at U.S.S. Wisconsin in Norfolk, Virginia
• Paul Ryan makes appearance at Romney's four-day, four-state bus tour

Richmond, Virginia (CNN) -- Mitt Romney on Saturday officially announced U.S. Rep. Paul Ryan of Wisconsin -- considered a rising Republican star and the party's leader on fiscal and budgetary issues -- as his running mate in the presidential race.

Ryan, appearing at the beginning of a four-day, four-state bus tour in Norfolk, Virginia, moved quickly to position himself and Romney, the presumptive Republican presidential nominee, as champions of voters dissatisfied with the economy.

"I represent a part of America that includes inner cities, rural areas, suburbs and factory towns," he said Saturday morning, the U.S.S. Wisconsin in the backdrop. "Over the years I have seen and heard from a lot of families, from a lot of those running small businesses, and from people who are in need. But what I have heard lately, that's what troubles me the most. There is something different in their voice and in their words. What I hear from them are diminished dreams, lowered expectations, uncertain futures.

"I hear some people say that this is just 'the new normal.' Higher unemployment, declining incomes and crushing debt is not a new normal. It's the result of misguided policies. And next January, our economy will begin a comeback with the Romney plan for a stronger middle class that will lead to more jobs and more take-home pay for working Americans."

Rep. Paul Ryan of Wisconsin

Wait -- who's running for what again?

Paul Ryan: I'm a policy person

Romney campaign: Ryan is V.P. choice

Rep. Paul Ryan up close

GOP sources told CNN on Friday that Sen. Marco Rubio of Florida, former Minnesota Gov. Tim Pawlenty and Sen. Rob Portman of Ohio had all been told that they were not getting the nod.

A campaign aide told CNN that Romney had made his decision August 1.

Paul Ryan, top GOP voice on fiscal matters

Romney, 65, initially flubbed his big line, announcing, "Join me in welcoming the next president of the United States, Paul Ryan!" He recovered moments later when Ryan took the stage, saying, "Every now and then, I'm known to make a mistake. I did not make a mistake with this guy, but I can tell you this: He's going to be the next vice president of the United States."

Romney called Ryan, 42, "a faithful Catholic" who "believes in the worth and dignity of every human life." He lauded the fifth-generation Wisconsin native serving his seventh term in Congress as "an intellectual leader of the Republican Party" and a person who will help lead the country "to widespread and shared prosperity."

Romney had called several of the candidates on his vice presidential shortlist on Friday evening to tell them he had selected a running mate and to thank them for assisting with his campaign, a Republican familiar with the calls told CNN. Romney did not indicate on the calls whom he had selected, the source said.

In a statement, Portman called Ryan "a great choice." He added, "I look forward to working closely with a Romney-Ryan administration to restore fiscal sanity and enact pro-growth policies to create jobs."

Accolades poured in from Republicans. In a statement, Senate Republican Leader Mitch McConnell called Ryan, the House budget chairman, "a confirmation that Gov. Romney is serious about strengthening America's economic future, tackling the deficits and debt that have skyrocketed under President Obama, and returning to a path to solvency and security."

Republican National Committee Chairman Reince Priebus said the new teammates "have the knowledge, expertise and vision we need to get America working again and get our fiscal house in order."

Pawlenty, in New Hampshire, called Ryan "a respected leader and a bold thinker regarding the changes needed to restore America."

But the Obama campaign was unenthused. "In naming Congressman Paul Ryan, Mitt Romney has chosen a leader of the House Republicans who shares his commitment to the flawed theory that new budget-busting tax cuts for the wealthy, while placing greater burdens on the middle class and seniors, will somehow deliver a stronger economy," it said in a statement.

"The architect of the radical Republican House budget, Ryan, like Romney, proposed an additional $250,000 tax cut for millionaires, and deep cuts in education from Head Start to college aid. His plan also would end Medicare as we know it by turning it into a voucher system, shifting thousands of dollars in health care costs to seniors. As a member of Congress, Ryan rubber-stamped the reckless Bush economic policies that exploded our deficit and crashed our economy. Now the Romney-Ryan ticket would take us back by repeating the same, catastrophic mistakes."

Follow the latest announcements on the Political Ticker

Communications staffers for the Romney campaign were ordered to report to their Boston headquarters at 8 a.m. Saturday, an unusual directive for a weekend, a Republican familiar with the plans told CNN.

There were other signals that Romney was ramping up for a splashy weekend: Much of the Romney high command flew Friday afternoon with the candidate from Boston to Norfolk, including Beth Myers, the adviser tasked with running the vice presidential search process, and Will Ritter, the campaign's director of advance who rarely leaves his spacious corner office in Boston's North End.

Democratic attacks on Ryan focus on changes to Medicare and Medicaid

Ann Romney, the candidate's wife, landed in Norfolk after her trip to the Olympic Games in London.

The bus tour will take Romney through major media markets in four battleground states -- Virginia, North Carolina, Florida and Ohio.

Virginia Gov. Bob McDonnell, once a potential running mate, introduced Romney. House Majority Leader Eric Cantor, a Richmond native, was set to join Romney at stops in the commonwealth on Saturday.

Prior to Saturday's announcement, many Republicans who spoke to CNN -- all of them granted anonymity to speak freely without angering Romney officials in Boston -- wondered why Romney would announce the pick on a weekend when millions of potential voters are likely to be distracted by the Olympics, PGA golf, late-season baseball and the box office release of the latest Bourne thriller.

'Kiss my a**': Romney's aide curses reporters at Polish holy site

By MICHAEL ZENNIE and ASSOCIATED PRESS REPORTER

Lashing out: Press secretary Rick Gorka was forced to apologize after telling reporters to 'kiss my a**'

Read more: http://www.dailymail.co.uk/news/article-2181571/Kiss--Romneys-aide-curses-reporters-Poland-latest-world-tour-gaffe.html#ixzz22DXf21Hh

He drew criticism and accusations of racism in Jerusalem on Monday when he said Israel's economic superiority to the Palestinian territories was a matter of 'culture.'

His campaign has vehemently denied those allegations. 

Mr Gorka's remarks came hours before a major foreign policy speech in the Polish capital in which Romney praised the central European nation for becoming what he said was a model of small government and free enterprise.

The former Massachusetts governor said that 'rather than heeding the false promise of a government-dominated economy, Poland sought to stimulate innovation, attract investment, expand trade and live within its means' after the Communist era.

'The world should pay close attention to the transformation of Poland’s economy,' Romney said. 

'A march toward economic liberty and smaller government has meant a march toward higher living standards, a strong military that defends liberty at home and abroad, and an important and growing role on the international stage.'

Mr Gorka's angry words to reporters were made Tuesday morning when Romney visited a monument to Poland's war dead with the Warsaw mayor. 

Reporters began shouting questions at the presumptive Republican nominee from behind a rope line because, they said, he has answered only three queries from the traveling press corps.

A CNN reporter shouted: 'Gov Romney are you concerned about some of the mishaps of your trip?'

Read more: http://www.dailymail.co.uk/news/article-2181571/Kiss--Romneys-aide-curses-reporters-Poland-latest-world-tour-gaffe.html#ixzz22DWTbV00

Romney trip begins in shambles

By Jim Acosta, CNN National Political Correspondent

Mitt Romney's trip to the London Olympics was met by jeers from the British public and media after a series of missteps.

STORY HIGHLIGHTS

• Mitt Romney's comments in London draw criticism from the British press
• #Romneyshambles is trending on Twitter on both sides of the Atlantic
• Romney disclosed a meeting with intelligence official usually kept quiet
• Campaign tries to pivot from its misfortune to criticize Obama on weak GDP

London (CNN) -- If only Mitt Romney could turn the Olympic torch on the newspaper headlines in London.

He's the "Party Pooper" in the Daily Mail, "Nowhere Man" in the Times of London and "Mitt the Twit" in The Sun.

This was not the storyline Romney and his team wanted when they journeyed overseas for a trip designed to burnish the GOP contender's foreign policy credentials.

Romney has yet to publicly acknowledge the outrage he set off in London when he appeared to question the city's "disconcerting" problems in gearing up for the Olympic Games.

In an interview with CNN's Piers Morgan on Thursday, Romney chuckled when he was asked about the criticism.

Romney's Olympics false start

Romney's London blunders

Romney off to a rocky start in London

Romney's Olympic comments cause stir

Piers discusses Romney press backlash

"Well, I'm delighted to see the kind of support that has been around the torch for instance. I watched last night on BBC an entire program about the torch being run across Great Britain. And the kind of crowds. I guess millions of people that turned out to see the torch. That's what you hope to see," Romney told Morgan.

Asked about the controversy on NBC's "Today" show, Romney again sidestepped the question but declared London prepared.

"After being here a couple of days it looks to me like London is ready," Romney said.

The uproar in Britain reached its crescendo Thursday evening when London Mayor Boris Johnson whipped up a crowd of 60,000 revelers at a pre-Olympics celebration with a taunt for the Republican presidential candidate. Johnson is a Tory, theoretically putting him near Romney on the same conservative end of the political spectrum.

"There's this guy called Mitt Romney who wants to know if we are ready. Are we ready? Yes we are," Johnson shouted at what sounded like a political rally, for President Obama.

Meanwhile on Twitter, the hashtag #RomneyShambleswas trending on both sides of the Atlantic.

For instance, ‏@Pawelmorski's Tweet read: "Americans: This Mitt person is some sort of American Borat, right? #romneyshambles"

The hashtag is a play on "omnishambles," from the BBC TV series "The Thick of It," a satire of British government.

"It led most of the networks' news shows, and the message was clear: This fellow is not ready for primetime," said presidential scholar Larry Sabato with the University of Virginia's Center for Politics.

The British media also seized on Romney's disclosure after his visit with Prime Minister David Cameron that he had met Sir John Sawers, head of the British Intelligence agency MI6. Such meetings are typically not made public, a government spokesman told London's Telegraph newspaper.

Romney: Olympic snafus 'disconcerting'

"Sir John meets many people, but we don't give a running commentary on any of these private meetings," the spokesman said.

Former Minnesota Sen. Norm Coleman, a top Republican surrogate for the Romney campaign, had his doubts about any long-lasting damage to the GOP's likely nominee.

"Britain is a strong ally. This governor is about strengthening America's relationship with allies not undercutting them," Coleman said in an interview on CNN's "Starting Point," a running GOP attack theme against Obama.

The former senator pinpointed other opportunities for Romney on the next legs of his trip, Israel and Poland.

"The governor will be in Poland. They had the rug pulled out from them on the missile defense," Coleman said. "Obama's ratings in Israel are in single digits," he added.

Aaron David Miller, a distinguished scholar at the Woodrow Wilson International Center for Scholars, believes Romney can redeem his trip while in Israel.

"He knows and likes [Prime Minister Benjamin] Netanyahu and can convey quite naturally that he understands that Israel is a small country with a dark past living on the knife's edge," Miller said.

"Quite simply, Obama has failed to communicate that, and has given his opponent an opening," he said.

Setting the table for his visit to Israel, Romney issued a warning to Iran that he would consider military action to prevent the Islamic republic from building a nuclear weapon.

"The military option should be evaluated and available if no other course is successful," Romney said in an interview with Israel's Haaretz newspaper.

Back in the United States, the Romney campaign was busy capitalizing on new data showing the nation's economy had only grown by a disappointing 1.5% in the second quarter of the year.

"GDP -- Grossly Disappointing President," tweeted top Romney strategist Eric Fehrnstrom.

In the long marathon to November, Sabato said the gold medal issue for American voters is likely to be the economy, not foreign policy.

"Think of the string of gaffes on both sides in the past few months. Every single one was supposedly a game-changer. None has been," Sabato said.

Ron Paul: I 'Have Not' Decided If I'll Vote for Romney

By Chris Good | ABC OTUS News 

Ron Paul, who is still technically running for the Republican nomination, says he has not decided whether or not he'll vote for Mitt Romney.

"I have not made a decision," Paul told Fox Business Network's Liz Claman and David Asman.

When asked what he thinks about Romney as a candidate for president, Paul responded, "Compared to whom? He certainly offers different things than the current president. But the current conditions make it rough for anyone. They are going to have a very though job."

Paul and Romney reportedly struck up a friendly rapport on the campaign trail, The New York Times noted in February.

While Paul is still a candidate, he announced in May that he would stop campaigning in new states, and his supporters have fallen short of reaching the delegate threshold necessary to make him eligible for the GOP presidential nomination at the party's national convention in Tampa, but Paul has not officially announced his withdrawal from the race, as other Republican candidates have done.

It's almost gospel that Republican candidates, despite their rivalry, must acknowledge that they would support any Republican presidential candidate over the Democratic incumbent. But given Paul's nonconformity to the party mold, he hasn't always been afforded that courtesy: In December,Newt Gingrich said he would not vote for Paul if the Texas congressman became the GOP's nominee.

Paul drastically differs from most Republicans, including Mitt Romney, on some major policy points, including his desire to eliminate the Federal reserve and close U.S. military bases overseas.

Democrats to Romney: 'Stop whining' over felony remark

CNN's Kevin Liptak

(CNN) – The suggestion this week from a top Obama campaign official that Mitt Romney may have committed a felony by listing himself as CEO of Bain Capital after leaving the firm was picked apart Sunday, with Republicans decrying the remark as the worst type of divisive politics and Obama's team urging its rivals to "stop whining."

Stephanie Cutter, Obama's deputy campaign manager, originally made the claim Thursday on a conference call.

"Either Mitt Romney, through his own words and his own signature was misrepresenting his position at Bain to the SEC, which is a felony, or he was misrepresenting his position at Bain to the American people to avoid responsibility for some of the consequences of his investments," Cutter said, responding to a newspaper report that Romney was listed as Bain Capital's CEO after 1999, when he has repeatedly said he left the private equity firm.

The significance of Romney's date of departure centers on companies acquired by Bain that later shipped jobs overseas. Romney claims he left the company before those decisions were made, but Democrats point to filings with the Securities and Exchange Commission that indicate Romney was still listed as the firm's CEO.

Cutter's words drew a quick response from Obama's opponents, who said the suggestion that the presumptive GOP nominee had committed a felony was below the office of the presidency.

Romney himself said in an interview with CNN on Friday that the charge was "disgusting" and "demeaning," and called on Obama and his campaign to apologize.

Ed Gillespie, a senior adviser to Romney, echoed that sentiment on Sunday, saying on CNN the charges reflected a "say anything" stance adopted by the president's campaign.

"We now know that this president will say anything to keep this highest office in the land, even if it means demeaning the highest office in the land," Gillespie said.

And Kevin Madden, newly appointed to a more senior role on Romney's team, said on CBS that the felony suggestion was out of line.

"I think it is very troubling that the president would direct this campaign to label someone like Gov. Romney, who is a very good and honorable man, as a felon. That's very troubling," Madden said.

Cutter, sitting next to Madden on the CBS set, said she was not calling Romney a felon, but merely stating the Bain documents, if misrepresentative of his role at the company, would amount to a felony. She refused to apologize for the remark.

"He's not going to get an apology," Cutter said. "Just a few months ago in the primary Mitt Romney said to his opponents - who were crushing him at the time – 'stop whining.' And that's a good message for the Romney campaign. Instead of whining about what the Obama campaign is saying, just put the facts out there and let people decide rather than trying to hide them."

Chicago Mayor Rahm Emanuel, who left his post as Obama's chief of staff in 2010 to run in the mayoral election, had similar advice for the Republican candidate.

"Give it up about Stephanie. Don't worry about that," Emanuel said on ABC. "What are you going to do when a China president says something about you? Stop whining. If you want to claim Bain Capital as your calling card for the White House, defend what happened to Bain Capital and what happened to those jobs that went overseas, those jobs that were actually cut and eliminated."

TRENDING: Pawlenty: Romney doesn't need a 'flashy' veep

CNN Political Unit

(CNN) - Former Minnesota Gov. Tim Pawlenty on Wednesday beat back speculation that Mitt Romney needed a "flashy" running mate, saying instead the presumptive GOP nominee should pick a more serious number two.

"We have a lot of people who are entertaining, who can light their hair on fire or whatever, but the bottom line is these are serious times, we need seasoned experienced people who get the job done," Pawlenty said on Fox News.

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Pressed by Fox anchor Neil Cavuto if Pawlenty considers New Jersey Gov. Chris Christie as someone "who lights their hair on fire," the former governor said he was referring to President Barack Obama when he made his comment.

"Barack Obama gives us this soaring rhetoric last time, soaring rhetoric, and it turned out to be a bunch of empty promises," he said.

Pawlenty, a former 2012 presidential candidate, is widely considered to be on Romney's list for veep contenders. Also thought to be on the list are the very vocal Gov. Christie as well as Sen. Rob Portman of Ohio, who has been criticized by some for having a less-than-animated personality.

Talking about his own credentials, Pawlenty pointed to his record as governor and added he can be relatively entertaining.

"I'm not as flashy as some, but compared to some others, I think I'm right in there," he said. "But nonetheless, I'm not defending it one way or the other. I'm just saying, people - rhetoric and teleprompter and jokes and that kind of stuff doesn't put gas in our cars."

Cavuto then asked if Pawlenty could sing.

Romney campaign expected to launch multipronged effort to rebut attacks

CNN Chief Political Analyst Gloria Borger

Washington (CNN) – In the face of a barrage of negative ads about Bain Capital–as well as calls from Republicans for Mitt Romney to release more years of tax returns–expect the Romney campaign to launch a multipronged offensive to fight back.

There is some acknowledgement inside the campaign, according to sources, that the attacks by the Obama re-election team have begun to drive up Romney's negative ratings. While the national horserace numbers have not moved, there is a sense that the underlying numbers are showing some changes–and not in a good way.

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– Check out the CNN Electoral Map and Calculator and game out your own strategy for November.

The Romney campaign, which has been outspent by more than 3-1 in key battleground states, intends to start its own ad onslaught.
"This gap (in advertising) won't exist forever," says one source close to the campaign.

After Democrats last week pounced on the issue of when Romney left his job as head of Bain, Team Romney released three different commercials attacking the president's re-election campaign for its tactics.

Campaign surrogates have been briefed on going after Obama for so-called "crony capitalism" and giving preferential treatment to his donors, a charge his advisers categorically deny.

One surrogate reports that, oddly enough, he had not been briefed on how to respond to the attacks on Bain Capital and taxes. The campaign is in overdrive trying to turn the page and start going on offense, with the candidate himself making the case Tuesday that Obama has been bad for small business and doesn't understand what drives Americans.

"I'm convinced he wants Americans to be ashamed of success," Romney said in Irwin, Pennsylvania.

Team Obama expects to win Pennsylvania, as have Democratic presidential candidates since 1992. The Romney campaign, however, claims it has more of a shot at Pennsylvania than did Sen. John McCain–because of Romney's appeal to suburban women.

Some Republicans believe that, in order to break out of this bad cycle, Romney needs to change the subject to something bigger–like his vision for the economy.

"I would move on with economic vision for the country," says one senior GOP strategist. "How about calling on Congress to stay in through August, get a solution to the fiscal cliff and elevate the debate?

Sununu: The Obama campaign is a ‘bunch of liars’

By Holly Bailey, Yahoo! News

IRWIN, Pa.—John Sununu, a top surrogate to Mitt Romney's presidential campaign, issued a withering attack against President Barack Obama Tuesday, accusing him and his campaign of being "a bunch of liars" for their attacks on the presumptive GOP nominee.

Speaking on a Tuesday conference call with reporters, the former New Hampshire governor, who has emerged as one of Romney's most aggressive defenders, slammed Obama's campaign for suggesting Romney might have committed a "felony" for misstating his role at Bain Capital.

But Sununu issued a nearly equal counterpunch, telling reporters Obama "comes out of that murky political world in Chicago where politician and felony has become synonymous."

Still, Sununu added, "I am shocked that the president introduced the word 'felon' into the political discourse."

[Related: Luke Skywalker knocks Romney as 'not human']

The call was organized by Romney aides to attack Obama's handling of the economy, which they argue has stifled job creation and hurt small business. But Sununu seemed to take it a step further, telling reporters at one point, "I wish this president would learn how to be an American."

Asked to clarify his statement, Sununu walked it back, explaining he only meant that he wished Obama would adopt the "American formula" for creating businesses and introducing an environment where "entrepreneurs can thrive."

Still Sununu was back on the attack seconds later. Asked about a new Obama ad that suggests Romney won't release additional years of his tax returns because they might show he didn't pay taxes, the former governor trashed the Obama camp as "stupid."

"If (Romney) didn't pay taxes, you don't think the IRS would be knocking on his door? The IRS would have knocked at his door, and we would know all about it," Sununu said. "The Obama campaign has once again demonstrated that they are clearly and unequivocally a bunch of liars."

In response, Lis Smith, a spokeswoman for the Obama campaign, said the Romney campaign "has officially gone off the deep end."

"The question is what else they'll pull to avoid answering serious questions about Romney's tenure at Bain Capital and investments in foreign tax havens and offshore accounts," she said in an email to reporters. "This meltdown and over-the-top rhetoric won't make things better. It only calls attention to how desperate they are to change the conversation."

Romney blasts 'dishonest' Obama ads; president continues attacks

By Tom Cohen and Ashley Killough, CNN

STORY HIGHLIGHTS

• NEW: "He's sure as heck got to say sorry for ... attacks that are coming from his team," Romney says
• Obama questions Romney's role at Bain after stated 1999 departure
• Obama kicks off two days of campaigning in the battleground state of Virginia
• Polls show Obama with a slight lead over Romney in the state

Washington (CNN) -- Mitt Romney described assertions by President Barack Obama's campaign as "deceptive," demanding an apology and rejecting calls to release more than two years of tax returns.

Obama, however, showed no sign of backing down in questioning whether the presumptive Republican presidential nominee continued playing a leading role at Bain Capital after taking a leave of absence from the private equity firm in February 1999.

The issue has dominated the campaign debate in recent days, escalating the bitterness of the presidential race less than four months from the November vote.

When Romney left Bain: The facts

Romney conducted a series of previously unscheduled interviews on Friday afternoon to call on Obama to disavow tactics that Romney called below the standard for a presidential campaign.

"There's no question but that his campaign is putting out information which is false and deceptive and dishonest, and they know it, and they ought to stop," Romney told CNN in one of the five interviews he did with television networks.

In particular, Romney rejected the persistent contention by the Obama campaign in ads and statements that Romney misled either federal regulators or the American people in saying he stopped playing any management role at Bain Capital after leaving in 1999 to run the Salt Lake City Olympics.

The attacks are "beneath the dignity of the president and his campaign," Romney told ABC News, adding they reflected "Chicago-style politics at its worst."

Obama had promised a different approach when he ran last time, Romney said.

The former Massachusetts governor said a report had revealed the Obama campaign had "a strategy of trying to 'kill Romney,' and that's what they are trying to do. He's sure as heck got to say sorry for the kinds of attacks that are coming from his team. It's very disappointing on his part."

The Boston Globe reported Thursday that documents filed with the Securities and Exchange Commission stated that Romney owned 100% of the company until as late as 2002.

CNN confirmed that an SEC filing from 2001 also listed Romney as the "sole shareholder, sole director, chief executive officer and president of Bain Capital." In addition, CNN obtained from a Democratic official a Bain Capital filing with the Massachusetts Secretary of State's Office in 2001 that listed Romney as Bain president, as well as a director.

Romney defends Bain departure date

Condi Rice possible Romney pick for VP

Obama hints at defense budget cuts

McDonnell: Obama won't win Virginia

Asked about the documents, Romney told CNN "there's a difference between being a shareholder, an owner if you will, and being a person who's running an entity."

He denied playing any management role at Bain Capital after February 1999 and called the issue "an effort on the part of the president's campaign to divert attention from the fact the president has been a failure in reigniting the American economy."

"Is this the level that the Obama campaign is willing to stoop to?" Romney asked. "Is this up to the standards expected of the presidency of the United States? I don't think the American people think so. I don't think so."

He went on to call the campaign tactics "disgusting" and "demeaning," adding: "It's something which I think the president should take responsibility for and stop."

In an interview Friday with CNN affiliate WJLA, Obama said the question needed to be addressed by Romney.

"As president of the United States, it's pretty clear to me that I'm responsible for folks who are working in the federal government and you know, Harry Truman said the buck stops with you," Obama said. "Now, my understanding is that Mr. Romney attested to the SEC, multiple times, that he was the chairman, CEO and president of Bain Capital, and I think most Americans figure if you are the chairman, CEO and president of a company that you are responsible for what that company does."

The timing of Romney's end date at the firm remains an important focal point in the presidential race, as Romney argues that he left the company before it was involved with the shuttering of certain businesses that led to job losses.

The nonpartisan group FactCheck.org said it previously looked into the matter of when Romney left Bain Capital and concluded there was insufficient evidence to show that Romney was still managing the company, even part-time, during his time with the Olympics.

In addition, Steve Pagliuca, a Bain managing partner, told CNN that Romney had "absolutely no involvement with the management or investment activities" of the firm after his February 1999 exit, though he continued to be the sole stockholder.

"Due to the sudden nature of Mr. Romney's departure, he remained the sole stockholder for a time while formal ownership was being documented and transferred to the group of partners who took over management of the firm in 1999," said Pagliuca, a Democrat. "Accordingly, Mr. Romney was reported in various capacities on SEC filings during this period."

In addition, the Romney campaign cites multiple fact-checking reports that labeled as false or misleading the claims by the Obama campaign that Bain Capital invested in companies that outsourced jobs overseas during Romney's tenure.

Obama mentioned the issue again Friday, saying at an event in Hampton, Virginia, that Romney's business record "was starting a company that's been investing in what were called pioneers of outsourcing."

Asked about the heated accusations and counter-accusations between the campaigns, Romney said Friday that he and his team have no choice but to respond.

"What the president's campaign has done so far is run advertisement after advertisement, which are then shown by independent fact-checkers to be wrong, false, misleading, and yet they keep doing it," Romney said. "At some point you have to respond. You can' t just have the airwaves covered with these ads day in and day out without saying, 'Look, those are false.' "

Obama's campaign also has been calling on Romney to release more than the two years' worth of tax documents he has already made public, suggesting the candidate may be hiding important details about his finances.

Some Republicans have joined Democrats in saying that a candidate's financial records are fair game in a presidential election campaign.

Romney has released his 2010 tax records and an estimate for 2011. He said Friday he will release his final 2011 return when the accountants complete it, but nothing more, noting he already disclosed what was required.

"I know there will always be calls for more. People always want to get more," Romney said. "We're putting out what is required, plus more that's not required. Those are the two years people are going to have, and that's all that's necessary for people to understand something about my finances."

So far, the Obama campaign has succeeded in making the issues of Romney's business background and personal wealth into campaign issues, while Romney has waged unending attacks on what he calls the president's failure to achieve more economic growth.

Both campaigns came out with new attacks Friday that challenged the credibility of the opposing candidate.

A new Romney ad used footage of Obama's 2008 Democratic National Convention speech to frame the president as hypocritical in his campaign tactics.

Titled "What happened?" the 30-second spot faults Obama for making "dishonest" attacks in the 2012 presidential race, despite condemning such strategy in his speech four years ago. The clips of Obama's old speech in Denver, however, appeared to be presented out of context.

The Obama campaign released a new online video called "Your Turn" that highlights what it called Romney's misrepresentation of his departure from Bain Capital.

Obama launched a two-day campaign swing through Virginia on Friday, telling boisterous crowds that he kept his promise to bring change that helped middle-class families, and now it was time for them to work to re-elect him.

"Because of the values we share, I believe in you." Obama told chanting, cheering supporters in a Virginia Beach school gymnasium. "And I hope you believe in me, because I've kept that promise, and I fought for you and I'm going to keep on fighting for you as long as I have a chance to be your president."

To rising applause, he continued: "And if you're willing to stand up with me and knock on doors with me, and make phone calls and get out and organize, then we'll finish what we started in 2008."

Obama carried Virginia four years ago, becoming the first Democrat to win the state since 1964, and polls show him with a slight lead over Romney at this point. He emphasized Friday that despite negative ads flooding the airwaves, it is the voters who hold the ultimate power on Election Day.

"When you decide change is going to happen, change happens," Obama said amid recurring chants of "four more years" and "U.S.A." "When you decide we're going to move forward, we move forward."

Delivering what is becoming his stump speech for the campaign, the president complained about the stalemate in Washington that he blamed on differing visions by each party. He framed the debate as a choice between moving forward with Democratic policies or going backward with Republican calls to return to what he called failed policies of the past.

"I don't want to go backwards. I want to go forward," Obama repeated several times in outlining the differences between what he proposes and what Romney backs.

The Romney campaign reacted immediately, saying Obama policies that have failed to bring down high unemployment and promote growth are what should not be repeated.

"He's right. Why would we try his failed policies again?" said a statement from Romney spokeswoman Amanda Henneberg.

In his most direct criticism of Republicans, Obama admonished the House GOP leadership for holding more than 30 votes on repealing or dismantling his signature health care reform law while refusing to join him in extending tax cuts on income of up to $250,000 for families and $200,000 for individuals.

"All it would take is one vote to make sure that all of you don't see your taxes go up next year," Obama said. "You tell me what would be a better use of time."

Obama's plan would mean higher taxes for 2% of the country who earn more than $250,000 a year, which he argued was necessary to help bring down budget deficits and would cause little discomfort to wealthy people "like me."

Republicans, however, reject any tax hikes in adhering to conservative principles of shrinking government to reduce deficits, as opposed to Obama's call for what he calls a balanced approach that would include further spending cuts and increased tax revenue.

The president headed to Hampton and Roanoke for more speeches Friday, then will return to the White House for the night before two more Virginia events Saturday in Richmond and Chantilly.

Earlier Friday, Virginia Gov. Bob McDonnell told CNN that he believes support for Romney is growing in his state.

"About four months ago, Romney was down eight points," McDonnell said, adding that the more that people examine what he called "the failed leadership and impact of the regulatory policies in Virginia" in comparison to Romney's ideas, "I think it gets better for Romney."

"I won by 18 points after (Obama's 2008 victory in Virginia) and what I'm hearing on the ground from business people and just the independent voter is this jobless record of 41 months over 8% and crushing national debt are the things that are driving people towards Mitt Romney," McDonnell said.

In a sign that Republicans want to shift attention away from the Bain Capital issue, Romney's campaign teased supporters Thursday with news of an upcoming announcement on his choice for a vice presidential nominee.

Later Thursday, the conservative Drudge Report posted a story, attributed to unnamed sources, saying that Romney had narrowed the field of prospective candidates to a handful, with former Secretary of State Condoleezza Rice as "a surprise name" on the short list.

Rice, who was the first African American woman to serve as secretary of state, has repeatedly denied any interest in running for vice president. In addition, Romney has previously declared his running mate will be someone who opposes abortion, while Rice toldCBS in 2008 that she was "mildly pro-choice."

Erick Erickson, a CNN contributor and the editor of Red State, a popular conservative blog, tweeted that he had been assured by people in the Romney campaign that the choice would not be Rice.

Romney refused to comment Friday on the vice presidential search.