Mitt Romney says the foundation of Obama's second term is "rotting" away.

On today's "Meet the Press":

But the key, I think, that has really undermined the president's credibility in the hearts of the American people is that he went out, as a centerpiece of his campaign, and as a centerpiece of Obamacare over the last several years, saying time and time again that fundamental to his plan was the right people would have to keep their insurance plan. And he knew that was not the case....

And whether you like the model of Obamacare or not, the fact that the president sold it on a basis that was not true has undermined the foundation of his second term. I think it's rotting it away.

And I think the only way he can rebuild credibility is to work with Republicans and Democrats and try and rebuild a foundation. We've got to have a president. We've got to have a president that can lead. And right now, he's not able to do so.