LIE #1: OBAMA SAYS HIS PLAN REDUCES THE DEFICIT BY $4 TRILLION
THE CLAIM: Obama: “I’ve Proposed A Specific $4 Trillion Deficit Reduction Plan.”
OBAMA: “I’ve proposed a specific $4 trillion deficit reduction plan. … The way we do it is $2.50 for every cut, we ask for $1 in additional revenue.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)
THE FACTS: “Virtually No Serious Budget Analyst Agreed With This Accounting.”
“But virtually no serious budget analyst agreed with this accounting. Obama’s $4 trillion figure, for instance, includes counting some $1 trillion in cuts reached a year ago in budget negotiations with Congress. So no matter who is the president, the savings are already in the bank.” (Glenn Kessler, “Factchecking The First Presidential Debate Of 2012,” The Washington Post‘s The Fact Checker
THE FACTS: Obama’s $4 Trillion Figure Includes Money From Legislation Enacted With Republicans And From War Savings That Would Occur Anyway.
“In promising $4 trillion, Obama is already banking more than $2 billion from legislation enacted along with Republicans last year that cut agency operating budgets and capped them for 10 years. He also claims more than $800 billion in war savings that would occur anyway. And he uses creative bookkeeping to hide spending on Medicare reimbursements to doctors.” (Calvin Woodward, “FACT CHECK: Presidential Debate Missteps,” The Associated Press
Obama “Twisted The Truth” With The $4 Trillion Figure.
- “Take Those ‘Cuts’ Away And Obama’s $2.50/$1 Ratio Of Spending Cuts To Tax Increases Shifts Significantly More In The Direction Of Tax Increases.” (Calvin Woodward, “FACT CHECK: Presidential Debate Missteps,” The Associated Press, 10/3/12)
“Obama also twisted the truth when he repeated the claim that his proposals would reduce the 10-year deficit by $4 trillion. In fact, the Congressional Budget Office found that Obama’s budget would increase cumulative deficits by well over $2 trillion over that time period.” (Meghan McCarthy, Katy O’Donnell, Amy Harder, and Catherine Hollander, “Fact Checking The Presidential Debate,” National Journal
LIE #2: OBAMA CLAIMED HE WOULD RETURN AMERICA TO TAX RATES UNDER CLINTON
THE CLAIM: Obama: “We Should Go Back To The Rates That We Had When Bill Clinton Was President.”
OBAMA: “But I have said that for incomes over $250,000 a year, that we should go back to the rates that we had when Bill Clinton was president, when we created 23 million new jobs, went from deficit to surplus, and created a whole lot of millionaires to boot.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)
THE FACTS: “Obama Repeated A Favorite Talking Point” But Americans Will Pay More Under Obama Than Clinton Due To New Taxes In ObamaCare.
“Obama repeated a favorite talking point, saying that his tax plan would return rates for the wealthy back to where they were during economically prosperous times under President Bill Clinton. But those making over $250,000 a year would actually pay more than they did under Clinton due to new taxes imposed on upper-income people to pay for the health care law.” (Brooks Jackson, Eugene Kiely, Lori Robertson, Robert Farley, D’Angelo Gore and Ben Finley, “Dubios Denver Debate Declarations,” Factcheck.org
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