Romney: Obama's 'Playing Chicken' With US Economy

Former Massachusetts Gov. Mitt Romney, the presumptive front-runner for the 2012 Republican presidential nomination, accused President Barack Obama of “playing chicken” with the U.S. economy, CBS News reported Tuesday.

Standard & Poor's giving the country a “negative” rating as far as its long-term outlook reflects a “downgraded” Obama presidency, Romney said.

During a radio interview Monday with conservative commentator Sean Hannity, Romney said the lowered rating showed that the president's plan to reduce the deficit is inadequate.

"Obama presidency was downgraded today," Romney said. "And people recognize that this president is playing chicken with the U.S. economy."

"This is a big deal, and the president continues to pooh-pooh the need to look seriously at our long-term budget," Romney continued. "The amount of debt we have is backbreaking even now. But, if the interest costs are going up, why, it could be devastating to the U.S. economy and could make job growth even more difficult."

The former chief executive officer also touted his own experience in the business community as a contrast to the president‘s.