Mitt Romney Forms Exploratory Committee

April 11, 2011 Updated: October 1, 2015

Former Massachusetts Governor Mitt Romney addresses the Conservative Political Action Conference at the Marriott Wardman Park February 11, 2011 in Washington, DC. (Chip Somodevilla/Getty Images)
Former Massachusetts Governor Mitt Romney addresses the Conservative Political Action Conference at the Marriott Wardman Park February 11, 2011 in Washington, DC. (Chip Somodevilla/Getty Images)
Former Massachusetts Gov. Mitt Romney officially threw his hat into the ring for the 2012 presidential election. He announced that he was forming an exploratory committee via a video released on his Twitter account.

The video was titled 'Believe in America.' Romney said in the video, "It is time that we put America back on a course of greatness, with a growing economy, good jobs and fiscal discipline in Washington."

In his announcement, he focused on his executive experience and his business background. Romney said Obama and his policies had failed because Obama had no business experience.

"He and virtually all the people around him have never worked in the real economy. They just don't know how jobs are created in the private sector," he said, adding that he would bring jobs and prosperity to the country if elected. "When I served as governor of Massachusetts, I used the skills I had learned in 25 years in business to streamline state government, balance the budget every year, and restore a 2 billion dollar rainy day fund," he added.

When Romney was governor, he helped craft and signed into law a health care reform bill which is quite similar to the federal Affordable Care Act of 2010, which Obama signed into law. It is considered his greatest liability as a Republican candidate for president.

Candidates must form a committee and register it with the Federal Elections Commission in order to raise money to campaign. President Obama announced his intention to seek reelection on April 4, starting with a text to his supporters.