Gov. Mitt Romney campaigns at the Jefferson County Fairgrounds in Golden, Colo., Thursday, Aug. 2, 2012. (AP Photo/Charles Dharapak)

GOLDEN, Colo. (AP) — Mitt Romney promised Thursday that his economic program will create 12 million new jobs in the next four years, and likened President Barack Obama to a “dog trying to chase its tail” when it comes to strengthening the sluggish recovery.

Firing back instantly, Obama said his rival favors “trickle-down fairy dust” that has failed to fix the economy in the past, and unleashed a new television ad with a scathing summation of Romney’s tax plans: “He pays less. You pay more.”

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