Bachmann: Vote for Romney because Obama is 'extremely wealthy'

Former Republican presidential candidate Michele Bachmann is encouraging voters to support Mitt Romney because President Barack Obama is "extremely wealthy" and can't relate to the "common man."

USA Todaycaught up with Bachmann at the Republican National Convention earlier this week and asked her how someone with "vast wealth" like Romney could "connect with the American public, really understand what the plight of the American public?"

"Well, President Obama is extremely wealthy," Bachmann replied. "He and his wife have been wealthy for a number of years, and so I think that's really the issue. Obama is wealthy, what do, or -- what does he understand about the common man right now?"

"And I think what people care about is not hating someone for what their assets are -- the American people don't hate President Obama because he's a very wealthy individual," she added.

"What they care about is how their lives are, would their lives be better? And I think it's very clear under the Romney-Ryan ticket the average Americans' lives will be much better, they'll have a lot more money to spend in the way that they want, and they'll also have a much more secure future for their children."

In late 2011, New York magazine determined that Obama had a net wealth of about $7.3 million, thanks to his successful books and his presidential salary of $395,188.

Romney, however, had net worth as much 136 times greater than the current president. The Republican candidate has personally estimated his wealth to be between $190 and $250 million. But former Massachusetts State Democrat Party chairman Phil Johnston believes that the number is closer to $500 million and Romney's close friend, Hugh Hewitt, has speculated that the former Bain Capital CEO could be worth $1 billion.

Watch this video from USA Today, broadcast Aug. 29, 2012.

(h/t: City Pages)

[Correction: A previous version of this report incorrectly listed Phil Johnston as the current Massachusetts State Democrat Party chairman. The current chairman is John Walsh.]