"The hope and change that was campaigned on a few short years ago, there's nothing to show for it," Huntsman said Wednesday on CNN"s "Piers Morgan Tonight."
Huntsman, the former Utah governor, cited a rise in unemployment and
joblessness, as well as uncertainty over the economy. He also criticized President Obama's handling of the financial sector.
"There's not trust left between the people of this country and our institutions of power, whether that's Congress, whether that's the executive branch, whether that's Wall Street with banks that are too big to fail, and the president had an opportunity to address it on his watch, he said.
The former governor has been trying to distance himself from Obama, whom he served as ambassador to China from 2009 to 2011. Huntsman faces the unique challenge of explaining his decision to serve under Obama while also distinguishing his policy views from the current administration.
During last week's CNBC GOP debate, Huntsman said the president had "failed miserably" and left the nation with a messy balance sheet.
"We talk about failed leadership. We certainly have failed leadership," Huntsman said.