Mitt Romney says Barack Obama has 'doubled' the deficit

Discussion in 'Politics' started by nitroz, Oct 6, 2012.

  1. nitroz
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    nitroz INDEPENDENTly ruthless

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    http://www.politifact.com/truth-o-m...romney-says-barack-obama-has-doubled-deficit/

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    During the first presidential debate in Denver, Mitt Romney took President Barack Obama to task for his record on the deficit.

    "The president said he’d cut the deficit in half," Romney said. "Unfortunately, he doubled it."

    We already ruled the first half of this statement True, noting that Obama said on Feb. 23, 2009, "Today I am pledging to cut the deficit we inherited in half by the end of my first term in office."

    But what about Romney’s second claim, that Obama "doubled" the deficit he inherited?

    Romney is way off.

    The final Congressional Budget Office baseline deficit projection before Obama took office -- noted in table 5 in this January 2009 CBO report -- showed a fiscal year 2009 deficit of $1.19 trillion.

    That figure doesn’t account for any of Obama’s own spending initiatives, such as the stimulus bill. But the deficit grew quickly under Obama: The fiscal 2009 deficit rose to $1.41 trillion and has remained above $1 trillion annually ever since.

    But compared to what Obama inherited, the annual deficit has gone down slightly. CBO projects that for fiscal 2012, which has just ended, the fiscal 2012 deficit will be $1.09 trillion.

    So, far from doubling the deficit, Obama (along with, it should be noted, some Republican help in Congress) has instead reduced the deficit by about 8 percent.

    The only way to get to doubling is to use a different starting point, which is what the Romney campaign does. His campaign compares the current deficit to the final fiscal 2008 deficit of $458.6 billion.

    But we don't find that to be the correct starting point.

    Romney was referring to a statement Obama made on Feb. 23, 2009, so the correct comparison would be the deficit at that point. The 2008 deficit covered a fiscal year that ended about four months before Obama took office -- and which was also a period of rapid economic deterioration that affected the scale of CBO’s deficit projections. So CBO’s January 2009 figure offers a much more accurate indication of what Obama "inherited" -- which, we should repeat, is the word Obama used in his broken promise of February 2009.

    Romney would still have been off if he had said the federal debt, rather than deficit, had doubled on Obama’s watch. The debt held by the public -- one of two key measures of federal debt -- rose from $6.3 trillion on Jan. 20, 2009, to $11.3 trillion on the day of the debate, an increase of 79 percent. The total federal debt, which includes debt the government holds itself, rose by a smaller amount over that period, 53 percent.

    Our ruling

    Romney said that Obama has "doubled" the deficit. In reality, using the most appropriate comparison, he and Congress have actually decreased the deficit slightly. We rate Romney’s statement False.
     
  2. TheGreatGatsby
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    TheGreatGatsby Gold Member

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    Not counting additional spending (such as the so-called stimulus) as part of the deficit is BS. Money doesn't grow on trees. Obama needs to be accountable for every dollar he spends and we are not going to let you libs use non GAAP accounting techniques to justify your lies.
     
  3. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    It's good of you to bring this up. A discussion on how much Obama has raised the deficit is important in regards to re-electing him for a second term I believe..

    mmm.. I guess, Obama should have pointed this out during the debate but I would hope the liberal media really goes after Romney over this again and again and again and again and again etc.
     
  4. MeBelle
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    MeBelle Mebellien Mothership © Supporting Member

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  5. TheGreatGatsby
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    TheGreatGatsby Gold Member

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    It's amazing to watch. I mean__ It's sickening how we lose a million dollars in only a matter of seconds.

    And by my math, it looks like Obama will have increased the debt by plus $7 trillion in two years. I don't need fancy gimmicks to tell me that's not the case. And none of that is before the monstrosity that is Obamacare goes into effect. I'm telling you, we'll be in for it if we let this amateur have a second term.
     
  6. California Girl
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    California Girl BANNED

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    I find it funny when the left get bent out of shape by a 'lie' from the right. These are the same posters who defend the lies of the left.

    If you dislike lies, dislike them from wherever they originate. Otherwise, you are a mindless moron.
     
  7. copsnrobbers
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    copsnrobbers I call it as I see it

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    No one from Chicago lies. Chris Mathews told me. It must be true.
     
  8. nitroz
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    nitroz INDEPENDENTly ruthless

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    Not just one "lie", but multiple lies being spewed from the asshat constantly.
    Just HOW MANY TIMES is he going to flop and lie again?
     
  9. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    The point is Democrats have no standing politically when it comes to judgements on flip flops or lies without admitting complete hypocrisy..just sayin
     
  10. copsnrobbers
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    copsnrobbers I call it as I see it

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    The Left: Say anything for the Agenda. Worry about it later. Okay spin that now. Oh shit... Obby just got his Clock Cleaned! Drop the unemployment number to 7.8.. Don't worry about the number we'll spin the push back.

    For the Left, Keep digging sports!!

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