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Chris Matthews: Romney's Campaign Has A 'Spring In Their Step' After Most Recent Jobs Report (VIDEO)

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Chris Matthews had a rather grim warning for President Obama's re-election campaign following the jobs report released on Friday.

Appearing on the "Today" show on Monday, Matthews responded to questions from host Savannah Guthrie regarding the Republican response to Friday's disappointing jobs report.

"What about Gov. Romney?" Guthrie asked. "[His campaign sees] that the bad economy will be good for his prospects but they don't want to be seen as routing for failure."

"That's right but of course they are," Matthews said. "They've got a spring in their step now. This is great news for the Republicans." Matthews said that the Republicans will probably win the election if the unemployment rate hits 8.5 percent and the growth rate stays below 2 percent.

"They don't have to do anything except enjoy the economic downturn," Matthews said.

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