An Iowa Endorsement for Romney... 5 Months After Caucus Iowa Rep. Steve King made two announcements today telling reporters Mitt Romney will campaign in his state Tuesday giving a "major policy speech on out of control spending and debt" at Drake University in Des Moines. He also gave his endorsement of Romney, which had been anticipated in January before the Iowa caucuses. "I've said all along I'll be an enthusiastic supporter of our eventual nominee," King said on a Republican National Committee conference call. It's clear Mitt Romney is our nominee and it will happen in Tampa. I'm predicting that that is the result and I'm an enthusiastic supporter of Mitt Romney. King said he is excited to see Romney on Tuesday in his state and will work to help him win the election and Iowa in November. King revealed just one day before the Jan. 3caucuses he would not endorse. Despite his late endorsement, King said he is going to be "very engaged" in the debate over the debt and deficit. The conference call starts a week long roll out from the RNC highlighting the president's "failure on the debt and deficit," said the RNC's Ryan Mahoney on the call. Earlier today, the committee released a web video which included clips of President Obama pledging to cut the nation's deficit in half and pay it down, beside a graphic of the number increasing. It ends with the words "empty promises" written across the screen. King compared the country's economic state to the dire situation in Greece saying the nation will be "approaching the situation Greece is in if we have a second Obama term," citing increases in the national debt. "You reach a point you can't borrow anymore," King said. (We are) the largest economy and we cannot go on this trajectory. He said the president will continue to "double down and borrow more money and hand out more money and tell them (Americans) it's their patriotic duty to do it." He called Romney a "consummate manager" and said "no one questions his economic understanding and ability." The Obama campaign did just that this morning, releasing a television ad labeling Romney a "job destroyer." The ad tells the story of a Kansas City steel company, purchased by Bain Capital in 1993, that subsequently went bankrupt. The Romney campaign pointed out the bankruptcy and layoffs happened in 2001, two years after the presumptive GOP nominee left Bain to head up the Salt Lake City Olympics. The Obama campaign also put out a statement highlighting Romney's time as Massachusetts governor and government spending in that state during his tenure. Mitt Romney knows a lot about out-of-control spending and debt. It was his record in Massachusetts," said spokeswoman Lis Smith in a statement. During his four years as governor, state spending increased by 6.5 percent per year, government jobs grew six times as fast as private sector jobs, taxes and fees went up by $750 million each year, and debt increased by 16 percent. In fact, he left Massachusetts with the largest per-capita debt of any state in the country. Now he's proposed a tax plan that would give $5 trillion in tax breaks to millionaires and billionaires without saying how he'd pay for it. That's Mitt Romney's real record on spending and debt and he won't be able to rewrite it.