As Kerwick sees it, the cold, merciless reality is that their candidate lost, and lost resoundingly, not because he was unprepared or disengaged. He lost because, for at least the first time since he has been in the national limelight, Obama had to square off with a man who is in every respect his superior. Whether measured in terms of intelligence, worldliness, articulation, or even physical appearance, Romney outshines Obama by miles.This is the ugly reality that Obama and his disciples can’t acknowledge.
Romney focused on strong economic issues, developed his philosophy of limited government, and convinced me beyond a shadow of a doubt that he is in fact a pro-growth tax reformer who wants to lower the rate, and broaden the base in a revenue-neutral fashion that will actually create jobs and spur the economy. Romney had to correct President Obama on a number of issues, including oil tax breaks, healthcare issues, job training programs in the federal government and even how Obamacare works. Romney’s knowledge base was broad and deep, much broader and deeper than President Obama showed tonight. You could see a man who is for limited government and private enterprise, who wants to make sure that people understood his commitment to those key principles, and he never wavered. On the other side, you could see Barack Obama committed to big government all the way. Also, we have no new knowledge of what President Obama would do if elected to a second term. For almost every question, President Obama had a government solution. For almost every question, Mitt Romney had a private-sector solution. - Larry Kudlow
Fact-Check
. Romney claim: “He has as a model for [cost control] that a board of people at the government, an unelected board, appointed board, who are going to decide what kind of treatment you ought to have.” FALSE.
“The Independent Payment Advisory Board, whose members must be confirmed by the Senate, will make recommendations about Medicare payments to providers, when spending exceeds targets specified in the law. They cannot by law make recommendations about what treatments people get, what people pay in premiums or co-pays, and they cannot “ration” care. Congress can reject their payment recommendations as long as they come up with other savings.”
[source: Politico]
2. Obama claim: “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.”
FALSE: “In promising $4 trillion, Obama is already banking more than $2 trillion 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. 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.
Obama’s February budget offered proposals that would cut deficits over the coming decade by $2 trillion instead of $4 trillion. Of that deficit reduction, tax increases accounted for $1.6 trillion. He promises relatively small spending cuts of $597 billion from big federal benefit programs like Medicare and Medicaid. He also proposed higher spending on infrastructure projects.
[source: AP]
3. Romney claim: “Half of college graduates can’t find a job.” HALF-TRUE (according to a Northeastern study, about 25% of college grads could not find a job- the other 25% were “underemployed” – Romney calls them both “unemployed”)
“Rather than roughly half of recent college grads not being able to find a job, the reality is that about 50 percent of recent college graduates are either unemployed or employed in jobs that aren’t commensurate with their degree. Of this 50 percent figure, about half are unemployed, and about half are in jobs that don’t require a college degree. …
Romney would have been more accurate if he had phrased his claim the way he did on other occasions, when he said “half the kids coming out of college this year … can’t find a job, or a job that’s consistent with a college degree. …
While Romney glossed over details when he spoke with donors, painting a darker picture than supported by the research, he did get the tone right: At 53.6 percent, the number of college graduates unemployed or underemployed is the highest it’s been in at least 11 years.”
[source: Politifact]
4. Obama claim: “Over the last two years, health care premiums have gone up – it’s true – but they’ve gone up slower than any time in the last 50 years. So we’re already beginning to see progress. In the meantime, folks out there with insurance, you’re already getting a rebate.” FALSE (he conflates premiums – which are rising fairly rapidly – with overall health care spending, which is growing at a slower rate).
“THE FACTS: Not so, concerning premiums. Obama is mixing overall health care spending, which has been growing at historically low levels, and health insurance premiums, which have continued to rise faster than wages and overall economic growth. Premiums for job-based family coverage have risen by nearly $2,400 since 2009 when Obama took office, according to the nonpartisan Kaiser Family Foundation. In 2011, premiums jumped by 9 percent. This year’s 4 percent increase was more manageable, but the price tag for family coverage stands at $15,745, with employees paying more than $4,300 of that.”
[source: AP]
5. Obama claim: “The oil industry gets $4 billion a year in corporate welfare. Basically, they get deductions that those small businesses that Governor Romney refers to, they don’t get.”
FALSE – slightly less than $3 billion in industry-specific tax subsidies in FY 2010. [Note - Romney got this point right in the debate when he referenced $2.8 billion in tax expenditures to oil and gas companies]
* For FY 2010, the Department of Energy estimates that oil & natural gas companies had $2.690 billion in industry-specific “tax expenditures” (i.e., tax subsidies).
* This figure excludes the approximately $3.25 billion in domestic manufacturing deduction tax subsidies in FY 2010 received by energy companies (primarily oil and gas companies) which is available to all manufacturing companies.
[source: Department of Energy, Energy Information Administration]
6. Romney claim: “And in one year, you provided $90 billion in breaks to the green energy world. I like green energy as well, but that’s about 50 years’ worth of what oil and gas receives.”
FALSE – Romney improperly compares loans, grants and tax breaks in the stimulus – a percentage of which goes to coal – to tax breaks for oil & gas companies. The $90 billion is also a 10-year number and he compares it to a single year of oil & gas company tax breaks. This is an apple to orange comparison.
* The approximately $90 billion allocated in the stimulus for “green energy” breaks down to $60.7 billion in spending (relatively immediate) and tax breaks worth $29.5 billion over a 10-year period.
* Of the approximately $90 billion, about $51.9 billion (57.66%) is for projects that are outside what most people would consider the “green energy world” compared to oil & gas companies:
$19.9 billion for energy efficiency programs
$10.5 billion to modernize the electricity grid
$18.1 billion for high-speed rail and transit programs
$3.4 billion for “clean coal”
[source: White House, Council of Economic Advisors]
* If you just look at it from the perspective of tax expenditures, it is $2.7 billion to the oil and gas industry in FY 2010 versus approximately $2.95 billion a year in the stimulus.
[source: Department of Energy, Energy Information Administration]
7. Romney claim: “[W]e have 4 million people on Medicare Advantage that will lose Medicare Advantage because of those $716 billion in cuts.”
TRUE BUT MISLEADING – although the Medicare Trustees project that the number of Medicare Advantage enrollees will decrease by 4 million between 2012 and 2016, they will still have access to Medicare.
* As Politico explains:
“The Romney campaign says he got that figure from the 2012 Medicare trustees report. That report says the number of seniors in private Medicare plans – the Medicare advantage plans – will drop from about 13.5 million in 2012 to 9.8 million in 2018. That’s close to a drop of 4 million.
But that claim makes it sound like those seniors could lose all Medicare coverage – when it really just means private Medicare plans would make up a smaller share of the market. Over the same period, the trustees say, the total number of people on Medicare would rise from 50.6 million to 60.5 million – an increase of about 10 million. Only the percentage in private Medicare plans would drop.”
[source: Politico]
From Republican Party
Obama Stumbled On The Facts
LIE #1: OBAMA SAYS HEALTHCARE COSTS ARE BECOMING MORE AFFORDABLE
THE CLAIM: Obama Said “Health Care Premiums Have Gone Up — It Is True — But They Have Gone Up Slower Than Any Time In The Last 50 Years.” OBAMA: “The fact of the matter is that when Obamacare is fully implemented, we are going to be in a position to show that costs are going down. Over the last two years, health care premiums have gone up — it is true — but they have gone up slower than any time in the last 50 years. We are already seeing progress.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)THE FACTS: “ For Now, There Is Little Evidence That The Affordable Care Act Has Made Healthcare Any More Affordable For The Vast Majority Of Americans.” “President Obama reiterated a claim that his healthcare law will reduce costs, a promise he made when he started pushing for an overhaul as a candidate four years ago. Then, Obama said he would cut family health insurance premiums by $2,500 by the end of his first term. Today, this stands as one of the president’s biggest unfulfilled promises. In fact, the average employee share of an employer-provided health plan jumped from $3,515 in 2009 to $4,316 in 2012, an increase of more than 22%, according to a survey from the Kaiser Family Foundation and the Health Research & Educational Trust. The total cost of an average employer-provided family health plan – shared by the employer and the employee -reached $15,745 in 2012. When the law is fully implemented in 2014, some low- and middle-income Americans will qualify for government subsidies to help them afford health insurance. And other provisions of the law could help slow the growth in healthcare costs over the long term. But for now, there is little evidence that the Affordable Care Act has made healthcare any more affordable for the vast majority of Americans.”(Noam N. Levey, “Fact Check: ‘Obamacare’ Hasn’t Yet Reduced Health Insurance Costs,” Los Angeles Times’ Politics Now , 10/3/12)
LIE #2: OBAMA SAYS GOV. ROMNEY’S PLAN IS A $5 TRILLION TAX CUT
THE CLAIM: Obama Said “Gov. Romney’s Central Economic Plan Calls For A $5 Trillion Tax Cut.” OBAMA: “Gov. Romney’s central economic plan calls for a $5 trillion tax cut – on top of the extension of the Bush tax cuts, that’s another trillion dollars – and $2 trillion in additional military spending that the military hasn’t asked for. That’s $8 trillion. How we pay for that, reduce the deficit, and make the investments that we need to make, without dumping those costs onto middle-class Americans, I think is one of the central questions of this campaign.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)THE FACTS: “Obama’s Claim That Romney Wants To Cut Taxes By $5 Trillion Doesn’t Add Up.” “Obama’s claim that Romney wants to cut taxes by $5 trillion doesn’t add up. Presumably, Obama was talking about the effect of Romney’s tax plan over 10 years, which is common in Washington. But Obama’s math doesn’t take into account Romney’s entire plan.” (Calvin Woodward, “FACT CHECK: Presidential Debate Missteps,” The Associated Press, 10/3/12)
- Romney’s “Goal Is A Simpler Tax Code That Raises The Same Amount Of Money As The Current System But Does It In A More Efficient Manner.” “Romney proposes to reduce income tax rates by 20 percent and eliminate the estate tax and the alternative minimum tax. The Tax Policy Center, a Washington research group, says that would reduce federal tax revenues by $465 billion in 2015, which would add up to about $5 trillion over 10 years. However, Romney says he wants to pay for the tax cuts by reducing or eliminating tax credits, deductions and exemptions. The goal is a simpler tax code that raises the same amount of money as the current system but does it in a more efficient manner.” (Calvin Woodward, “FACT CHECK: Presidential Debate Missteps,” The Associated Press, 10/3/12)
- ABC’s Jon Karl: Obama’s Claim That Romney Has A $5 Trillion Tax Cut Plan Is “Mostly Fiction.” KARL: “Okay, so, the big thing there, and he came back to it several times, is Governor Romney has a $5 trillion tax cut plan. I rate that mostly fiction.” (ABC’s “Your Voice: 2012Presidential Debates,” 10/3/12)
LIE #3: OBAMA SAYS HIS PLAN IS BALANCED IN THE MANNER OF SIMPSON-BOWLES
THE CLAIM: “Obama Often Claims That His Plan Has The ‘Balanced Approach’ Of The Simpson-Bowles Deficit Commission Proposal, But The Simpson-Bowles Plan Is Actually Quite Different.” “Obama often claims that his plan has the ‘balanced approach’ of the Simpson-Bowles deficit commission proposal, but the Simpson-Bowles plan is actually quite different, calling for tough spending cuts and substantial tax reforms – not the faux proposals contained in the president’s budget.” (Glenn Kessler, “Fact Check: Obama’s Faux Deficit Plan,” The Washington Post’s Fact Checker , 10/3/12)THE FACTS: “When The Two Plans Are Compared Apples To Apples, Simpson-Bowles Yields About $6.6 Trillion In Deficit Reduction – 50 Percent More Than Obama’s Plan.” “For instance, Simpson-Bowles envisioned $4 trillion in debt reduction over nine years; the president’s plan would spread the cuts over 10 years. A good chunk of the savings from deficit reduction piles up in that last year. When the two plans are compared apples to apples, Simpson-Bowles yields about $6.6 trillion in deficit reduction – 50 percent more than Obama’s plan.” (Glenn Kessler, “Fact Check: Obama’s Faux Deficit Plan,” The Washington Post’s Fact Checker , 10/3/12)
- THE FACTS: “Moreover, The Administration Is Also Counting $848 Billion In Phantom Savings From Winding Down The Wars In Iraq And Afghanistan… Independent Budget Analysts Were Not Impressed And Called The Maneuver ‘A Major Budget Gimmick.’” “Moreover, the administration is also counting $848 billion in phantom savings from winding down the wars in Iraq and Afghanistan, even though the administration had long made clear those wars would end. In other words, by projecting war spending far in the future, the administration is able to claim credit for saving money it never intended to spend. (Imagine someone borrowing $50,000 a year for college-and then declaring that they have an extra $500,000 to spend over the next decade once they graduate.) Independent budget analysts were not impressed and called the maneuver ‘a major budget gimmick.’” (Glenn Kessler, “Fact Check: Obama’s Faux Deficit Plan,” The Washington Post’s Fact Checker , 10/3/12)
LIE #4: OBAMA SAYS HE MADE ADJUSTMENTS TO SIMPSON-BOWLES FOR HIS OWN PLAN
THE CLAIM: Obama Said He Had Made Adjustments To The Simpson-Bowles Commission Recommendations. JIM LEHRER: “Governor Romney, do you support Simpson-Bowles?” MITT ROMNEY: “I have my own plan it is not as Simpson-Bowles. But in my view the President should have grabbed it. If you have some adjustments, make it, take it to Congress, fight for it.” BARACK OBAMA: “That’s what we’ve done. Made some adjustment to it. Putting it before Congress right now. $4 trillion plan.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)THE FACTS: When Bowles Simpson Failed To Come To The Floor, “The White House Looked The Other Way.” “Obama, answering a challenge from Romney, said that he did take an adjusted version of the Simpson-Bowles deficit-reduction framework to Congress, and that he has proposed $4 trillion in deficit reduction. Not quite. After the Simpson-Bowles commission failed to get the necessary votes needed to introduce its plan–which would reduce deficits by $4 trillion over 10 years through a combination of discretionary spending cuts, broad tax reform and entitlement savings–to the floor in December 2010, the White House looked the other way. (Meghan McCarthy, Katy O’Donnell, Amy Harder, and Catherine Hollander, “Fact Checking The Presidential Debate,” National Journal, 10/3/12)
LIE #5: 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: 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, 10/3/12)
- “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)
MSNBC’s Andrea Mitchell Reminded Viewers That “The Bipartisan Non-Profit Committee For Responsible Federal Budget Has Called That A Gimmick Because Those Wars Were Deficit-Financed In The First Place.” MITCHELL: “That estimate comes from the left-leaning Center on Budget and Policy Priorities. $3.8 trillion to be exact over ten years. The President is counting money saved by letting the Bush tax cuts expire for people making more than $250,000 a year. But he’s also counting $1 trillion in savings over ten years by drawing down the wars in Iraq and Afghanistan. The bipartisan non-profit Committee for Responsible Federal Budget has called that a gimmick because those wars were deficit-financed in the first place. And The President is also counting on savings agreed to last year when the White House and Congress agreed to raise the debt ceiling. Mitt Romney claimed tonight that President Obama’s health reform would take $706 billion — 16 billion dollars out of Medicare.” (NBC’s “2012 Presidential Debate,” 10/3/12)
LIE #6: OBAMA SAYS HE HAS CREATED 5 MILLION PRIVATE JOBS
THE CLAIM: Obama: “Over The Last 30 Months, We’ve Seen 5 Million Jobs In The Private Sector Created.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)- THE FACTS: “That Statistic Tries To Obscure The Fact That The Overall Job Record So Far In This Presidential Term Has Been Negative.” “He claimed 5 million jobs have been created in the private sector in the past 30 months; that statistic tries to obscure the fact that the overall job record so far in this presidential term has been negative.” (Glenn Kessler, “Fact Check: Obama’s Jobs Stat,” The Washington Post’s Fact Checker , 10/3/12)
LIE #7: OBAMA MAKES FALSE ACCUSATIONS ABOUT GOV. ROMNEY’S ECONOMIC PLAN
THE CLAIM: Obama: “Governor Romney Has A Perspective That Says If We Cut Taxes, Skewed Towards The Wealthy, And Roll Back Regulations That We’ll Be Better Off.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)- THE FACTS: This Is “A Claim That Earned Him [Obama] Three Pinocchios This Week.” “The President also suggested that Romney would adopt the same policies as the bush administration -cut taxes and roll back regulation-that led to the economic crisis, which is a claim that earned him Three Pinocchios this week.” (Glenn Kessler, “Fact Check: Obama’s Jobs Stat,” The Washington Post’s Fact Checker , 10/3/12)
LIE #8: OBAMA SAYS SOCIAL SECURITY IS “STRUCTURALLY SOUND”
THE CLAIM: Obama Claimed That Social Security Is “Structurally Sound.” OBAMA: “Social Security is structurally sound. It’s going to have to be tweaked the way it was by Ronald Reagan and Speaker — Democratic Speaker Tip O’Neill. But the basic structure is sound.” (President Barack Obama, Presidential Debate, Denver, CO, 10/3/12)THE FACTS: MSNBC’s Andrea Mitchell Said That “But According To The Congressional Budget Office, Social Security Will Run Into Financial Trouble Too.” MITCHELL: “President Obama said that unlike Medicare Social Security does not have to be fixed to remain solvent but according to the Congressional Budget Office, Social Security will run into financial trouble too. By 2030 the amount Social Security pays out will exceed the tax revenue coming in. So in about 20 years the program will not be able to pay for itself through the payroll tax that’s we all pay in. So Brian, the debate will continue on twitter and everywhere else as these facts are checked and counterchecked.” (NBC’s “2012 Presidential Debate,” 10/3/12)
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