“Stupid people are ruining America, and we’ve got to take it back,” he said.

Cain told members of the media after the speech that Republican presidential nominee Mitt Romney’s recent “47 percent” comment was a “non-story” being blown out of proportion by the media. But Cain said he would have been doing better if he was the nominee, saying that he’d probably have a “substantial lead” on President Barack Obama at this point.

“The reason is quite simple: I have some depth to my ideas,” he said.