Clinton defends Obama in forceful speech Democratic convention speakers rip Romney; Clinton rocks house

HARLOTTE, N.C. (MarketWatch) — Bill Clinton laid out a vision of shared prosperity and responsibility in the prime-time slot at the Democratic National Convention on Wednesday night, drawing a sharp contrast between President Obama and Republican challenger Mitt Romney.

Clinton took the podium and delivered a rousing endorsement of Obama that also harked back to the era of growth Clinton presided over during his eight years in the White House. 

Reuters

Former President Bill Clinton addresses delegates during the second session of the Democratic National Convention in Charlotte, North Carolina, September 5, 2012.

“If you want a winner-take-all, you’re-on-your-own society, you should support the Republican ticket,” Clinton told a cheering crowd at the Time Warner Cable Arena.

“If you want a future of shared prosperity, where the middle class is growing and poverty is declining...you should vote for Barack Obama.” 

At the end of the speech, Obama went on stage to congratulate a man with whom he’s had a rocky relationship.

Clinton and others on Wednesday used a double-barreled election-season strategy of burnishing Obama’s agenda and tearing down Romney’s. At the heart of the Democrats’ appeals were what they call investments in education, infrastructure and health care — which Republicans rip as budget-busting Washington spending.

DEMOCRATIC 2012 convention

Elizabeth Warren, a consumer advocate locked in a tight Senate race in Massachusetts, gave a stinging indictment of Romney with a populist speech before Clinton’s. 

“Mitt Romney wants to give billions in breaks to big corporations — but he and Paul Ryan would pulverize financial reform, voucher-ize Medicare and vaporize Obamacare,” Warren said. 

Democrats were hoping that the popular Clinton will give Obama a boost in what is an ultra-tight race with Romney. But there were some risks associated with bringing up Clinton’s record as Obama seeks a second term.

U.S. gross domestic product averaged 3.7% in the eight years that Clinton was president. For Obama’s presidency, it has averaged 2%, according to Haver Analytics-compiled data. Neither GDP figure includes each president’s first, partial quarter in office.

Obama has consistently argued that he inherited a deeply wounded economy but that the country has made progress under his leadership. Clinton echoed that theme as he spoke in the nationally televised address.

“Are we better off than we were when [Obama] took office, with an economy in free fall, losing 750,000 jobs a month? The answer is yes,” Clinton said.

Romney’s campaign has used Clinton’s record to bash Obama, most recently on Wednesday afternoon.

“When it comes to the state of the economy, President Obama just can’t match President Clinton,” Romney spokeswoman Amanda Henneberg said.