Washington (CNN) – Republican Former Massachusetts Gov. Mitt Romney announced the formation of his presidential exploratory committee Monday afternoon with a video on his website.

Full Transcript:
“I'm Mitt Romney. This morning I spoke with a number of students here at the University of New Hampshire. Like young people all over the country, they wonder whether they'll find good jobs when they graduate. Last week in Nevada I walked through a neighborhood with homes vacant or in foreclosure. Unemployment there is over 13%. Across the nation over 20 million Americans still can’t find a job or have given up looking. How has this happened in the nation that leads the world in innovation and productivity? The answer is that President Obama's policies have failed. He and virtually all the people around him have never worked in the real economy. They just don’t know how jobs are created in the private sector. That's where I spent my entire career. In 1985 I helped found a company. At first we had 10 employees, today there are hundreds. My work led me to become deeply involved in helping other businesses form innovative startups to large companies going through tough times. Sometimes I was successful and helped create jobs. Other times I wasn’t. I learned how America competes with companies in other countries. Why jobs leave, and how jobs are created here at home. Later when I served as Governor of Massachusetts, I used the skills I had learned in 25 years in business to streamline state government, balance the budget every year, and restore a 2 billion dollar rainy day fund. From my vantage point in business and in government I've become convinced that America has been put in a dangerous course by Washington politicians and it has become even worse during the last two years. But I’m also convinced that with able leadership America’s best days are still ahead. That’s why today I am announcing my exploratory committee for the Presidency of the United States. It’s time that we put America back on a course of greatness with a growing economy, good jobs and fiscal discipline to Washington. I believe in America. I believe in the freedom and opportunity and the principles of our Constitution that have led us to become the greatest nation in the history of the earth and I believe that these principles will confirm America’s future as well. This effort isn’t about a person. It’s about the cause of American freedom and greatness. I'd like to ask you to join with us. Volunteer, donate or just pass this message along to a friend. Thanks so much.”