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Romney: Health Care Promises 'Rotting' Obama's Second Term (VIDEO)

AP Photo / Charles Dharapak

The former presidential candidate was referring to reports that millions of Americans had received cancellation notices from their insurers, which conservatives seized on to suggest Obama broke his oft-repeated campaign promise that people who were happy with their insurance plans could keep them under the Affordable Care Act.

Romney argued that state-based plans would be a better model to adopt than a "one-size-fits-all" health care system. To rebuild credibility, he said, the President must work with both Republicans and Democrats to rebuild the law.

"We’ve got to have a President that can lead, and right now he is not able to do so," he said.

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