He's wrong on every count.
After Bush's tax cuts, his economy was mostly strong until the final year of his second term -- sustained economic growth, low unemployment and negligible inflation. Bush spent too much, though less than Democrats would have if they'd gotten their way (including on education and prescription drugs), but his deficits were still only a fraction of what Obama's have been -- despite Iraq and Afghanistan. Democratic policies (affordable housing, etc.) led to the economic collapse. Bush tried to get Democrats to roll these back, but he was ridiculed and rebuffed by the likes of Democratic Rep. Barney Frank. Obama also rails against Wall Street bailouts in his stump speech, but he became a key player in the TARP bailouts, not to mention the auto industry bailout or Dodd-Frank, which could someday lead to big bank bailouts on steroids.
Further, Obama, instead of putting us on a path to recovery, has implemented recklessly wasteful spending policies, oppressive regulatory policies and punitive tax policies, which have led to the worst recovery and longest period of high unemployment in 50 years. He has blocked GOP entitlement reform proposals and has submitted none himself. He is by far the biggest-spending president in American history by any rational measure. We will be in national bankruptcy and financial collapse if he wins re-election and stays the course, which he is promising to do. He and his Justice Department have also shaken down banks to pressure them to start making the very types of uncreditworthy loans that caused the housing collapse in the first place.
Romney would, like Bush, cut taxes (with modifications on deductions), but he would implement spending and entitlement reform, including repealing Obamacare. His administration would be a friend to businesses and not an outright enemy as the Obama administration has been.
So yes, President Obama, the choice couldn't be clearer. You would continue your failed policies of growing the government and killing the private sector, ensuring the perpetuation of an anemic economy and ultimately national bankruptcy, and Mitt Romney would dramatically roll back the government to let the American people and their businesses unleash a robust recovery, the likes of which we've rarely seen.