Former Massachusetts Gov. Mitt Romney has officially entered the 2012 race for the White House Thursday, saying President Barack Obama has "failed America."
Romney announced his candidacy for the Republican nomination in New Hampshire, with promises he would put the nation back on firm footing.
Romney unabashedly challenged Obama's record, citing unemployment, persistent foreclosures and runaway spending in Washington as proof that his economic policies have failed.
"A few years ago, Americans ….gave someone new a chance to lead," Romney said. "At the time, we didn't know what sort of a president he would make. Now, in the third year of his four-year term, we have more than promises and slogans to go by. Barack Obama has failed America."
Romney tosses his hat in the ring just as the GOP presidential landscape is starting to take shape.
Minnesota Gov. Tim Pawlenty and Tea Party favorite Herman Cain have already kicked off their campaigns. Sarah Palin and Rep. Michele Bachmann have also dropped strong hints that they may be next.
Meanwhile, Romney is hoping his tough talk and experience will put him ahead of the pack.
"My generation will pass the torch to the next generation, not a bill," he said.