Mitt Romney wrongly claimed deficits “multiplied … by a factor of four or five” under President Barack Obama. He also incorrectly stated that auto companies have repaid only a "small" share of the government bailout money.
The deficit was already running at $1.2 trillion when Obama took office, and it grew to more than $1.4 trillion during his administration — an increase of far less than 400 percent to 500 percent. As for the auto bailout money,
Issues: deficit
Ryan’s Budget Spin
Rep. Paul Ryan spreads some false and misleading information in a series of “Setting The Record Straight” web posts, in which he criticizes the president’s proposed budget and promotes …
Fun with Deficit Statistics
Q: Is it true that this year’s deficit is greater than the total taxable income of Americans earning more than $100,000?
A: No, it’s not true. The statistic comes from a Wall Street Journal editorial, which has been corrected.
FactChecking Obama’s Budget Speech
President Barack Obama misrepresented the House Republicans’ budget plan at times and exaggerated its impact on U.S. residents during an April 13 speech on deficit reduction. Obama claimed …
Stockman’s Fiery Rhetoric
David Stockman claims that discretionary spending is "out of control." But it’s up just 1.6 percent this year.
The former Reagan administration budget director caught our attention with an incendiary quote to The Fiscal Times news site, where he urged fellow Republicans to shut down the government if necessary to achieve spending reductions:
David Stockman: It’s time for the Republicans to man-up and let it burn! Discretionary spending is out of control, and if the GOP doesn’t force a big roll-back,
Our Angry Readers
We’d like to respond to readers who disliked our article on Social Security’s red ink.
We’ve received dozens of complaints and criticisms, expressing disappointment and sometimes outright anger at our finding that Social Security is in fact contributing to the federal deficit, and that some Democrats are making a false claim when they assert it doesn’t contribute "one penny." ("Democrats Deny Social Security’s Red Ink," Feb. 25.)
Readers accused us variously of being stupid, ignorant, misleading,
Democrats Deny Social Security’s Red Ink
Some senior Democrats are claiming that Social Security does not contribute “one penny” to the federal deficit. That’s not true. The fact is, the federal government had to borrow $37 billion last year to finance Social Security, and will need to borrow more this year.
A ‘Budget-Busting’ Law?
The nonpartisan Congressional Budget Office states that repealing the health care law would worsen the federal deficit over the next 10 years — by $230 billion. So how does …
Pelosi Pablum on ‘Fiscal Discipline’
In a Nov. 9 opinion piece for USA Today, House Speaker Nancy Pelosi presented a lengthy list of Democratic accomplishments since assuming control of the House and Senate in January 2007 — including "restoring fiscal discipline to the Congress." That one stopped us.
The fact is the federal government ended fiscal year 2009 with a $1.4 trillion deficit — the highest deficit as a share of the gross domestic product since 1945. And it only dipped slightly to $1.3 trillion in the fiscal year that just ended on Sept.
Sunday Replay
Pity the poor politicians and spinmeisters who had to don suits in the middle of a long weekend and populate the talk shows. They were up to their usual tricks, though: One Republican operative wrongly implied a crime by the White House; several guests talked about the debt or deficit in ways that were deceptive; and a House incumbent made the jobs picture under President Obama sound better than it is in reality.
Obama ‘Enemies List’