An interesting read on some of the distortion by the Obama campaign:
Obama campaign omits key facts on Romney's Massachusetts record - Los Angeles Times
Romney left MA with a balanced budget AND with a $2 billion rainy day fund.
(They're also distorting Romney's record on jobs growth as governor and have also alleged tax increases that weren't tax increases at all, not to mention their distortion of Romney's record at Bain, but those are not discussed in this article and are topics for other threads.)