Mitt Romney at a campaign event in New Hampshire. Reuters Mitt Romney, who lost the 2012 election to President Barack Obama, has been traveling the country making appearances on behalf of Republican candidates in this year's midterm election. At one of these events in Nebraska on Monday evening, Romney unleashed a scathing assault on the "terrible" Obama administration.

It was like a Republican standup special with a constant stream of jokes and barbs about Obama's policies and leadership abilities.

Romney began by declaring he didn't care about upsetting Obama.

"If you're running for office they tell you it's not a good idea to tell jokes alright. Because you always offend someone," said Romney. "But I'm going to tell you one about the president and I don't care if he's offended."

Romney, who was campaigning for Nebraska GOP Senate candidate Ben Sasse, went on to make a crack about Obama not having "a clue" that he's used in other recent appearances.

"Look, I'm not a big fan of the president's as you may understand, but even I have been disappointed by what I've seen over the last six years," Romney said. "Because he promised some things, but hasn't been able to deliver those things."

Romney went on to list things he said Obama promised to address including "poverty," "income inequality," the education system, and the president's infamous promise people would be allowed to keep existing health plans under Obamacare.

Afterwards, Romney moved away from domestic issues. That's where he really got fired up.

"It's been a terrible administration here at home and then look internationally," said Romney.

He went on to accuse Obama of having a foreign policy that is "very different" from all other post-war presidents. Romney said Obama has ignored "three principles" that were first established by President Harry Truman: that American must "be involved in the world," that we must "promote our values," and that we need a "military second to none."

"He went on to shrink our military smaller, and smaller, and smaller," Romney said of Obama. "Our navy will be smaller than that of China in seven years. Russia already has a larger nuclear arsenal than ours."

Romney suggested the decreased size of our armed forces has contributed to international tensions.

"The challenges we face are not just because of the leadership skill of the president. It's because he's wrong on so many issues," said Romney.

He went on to contrast this with the Republican Party, which Romney argued is offering better solutions. Then, Romney, who is sometimes cited as a potential 2016 presidential candidate made an admission.

"A lot of times we're not as effective in communicating our message as we should be," Romney said. "I'm to blame for that too and I wish I would have won."

Romney concluded by encouraging the audience to vote for Sasse and other GOP candidates this year even though it is not a presidential race.

"The president said it right. I don't always agree with the president, but he said something right yesterday and you've heard it before. He said 'Look, I'm not on the ballot, but my policies are,'" said Romney. "And that's absolutely right."

Watch a full video of Romney's speech below courtesy of NTV News.