Presumptive GOP presidential nominee Mitt Romney hit back President Barack Obama's "the private sector is doing fine" remark with a scathing web ad on Sunday featuring eight people who are anything but.The 54-second spot describes job loss, personal bankruptcy, a two-year job hunt, loss of pension and more.

"We've seen layoffs, cutbacks," one woman says.

"When it's all said and done I'm making $200 a month," a man says.

The ad closes with the words, "No, Mr. President, we are not doing fine."