During a speech on Tuesday, President Obama promised to reduce the budget deficit:
Obama: Now, this budget does not attempt to solve every problem or address every issue because of the massive deficit we inherited and the enormous costs of this financial crisis. We have made some tough choices that will cut our deficit in half by the end of my first term and reduce it by $2 trillion over the next decade.
To start, we want to clarify that Obama is talking about the budget deficit (the amount of money the government spends in a given year minus what it takes in),
Issues: economy
Will Work for Small(ish) Businesses
In his remarks to small-business owners March 16 at the White House, President Obama repeated a statistic we’ve heard from both Democrats and Republicans. (Republican Rep. Paul Ryan of Wisconsin
used it this month
on "Fox News Sunday.")
Obama said small businesses are responsible for creating "roughly 70 percent of all new jobs in the past decade."
That stat is one put forth by the Small Business Administration. The SBA says that small businesses "have generated 60 to 80 percent of net new jobs annually over the last decade."
Stimulus for Illegal Immigrants?
Q: Will 300,000 illegal immigrants get construction jobs through the stimulus package?
A: There’s no way of knowing how many illegal immigrants may or may not end up with a job from stimulus funds. But this inflated estimate comes from conservative groups concerned about the absence of employee verification requirements in the final bill.
Upstate Insults
New York Assembly Minority Leader James Tedisco, a Republican, and businessman Scott Murphy, a Democrat, are battling to fill a House seat in New York’s 20th congressional district that was vacated when its occupant was appointed to the Senate. The special election is scheduled for March 31. Recent ads have …
Bad Bankruptcy Stat, Repeated
Last week on our main site, we pointed out that President Obama used an incorrect statistic on bankruptcies caused by medical expenses in his address to Congress. And yesterday, he repeated it,
as Jake Tapper at ABC News noted
:
Tapper: "The cost of health care now causes a bankruptcy in America every thirty seconds," President Obama said at the opening of his White House forum on health care reform just now.
As we said then (and Tapper kindly links to us in his report): Last year,
Ride into the Danger Zone
The Air Force’s much-criticized F-22 has been a favorite subject of much of the blogosphere, particularly since Mark Bowden’s feature article praising the fighter appeared in the March issue of The Atlantic . Tuesday night the discussion went mainstream, with Obama’s oblique reference to “Cold War weapons we don’t use.” As we said in our article over on the main site, Obama is right to describe the F-22 this way. Development on the fighter began in 1981,
ARRA Under Attack, Again
The belated attacks on the American Recovery and Reinvestment Act of 2009 keep on coming. For the second time in less than a week, the American Issues Project has released a television ad criticizing the stimulus legislation recently signed by President Obama. In our article "GOP Stimulus Myths," we discussed the group’s first anti-stimulus ad that contained misleading claims about "pork and pet projects" in the legislation, as well as a one-sided characterization of a Congressional Budget Office analysis.
When Economists Agree
We’ve been telling you for the last couple of weeks how economists are divided over the virtues of the stimulus bill. But, as former chair of the Council of Economic Advisers and current Harvard Professor Greg Mankiw reminds us, we shouldn’t get too carried away with our skepticism of economists. While they might have differing views of macroeconomics, there are still a lot of areas where they agree. Mankiw provides us with a list of principles that most economists accept,
GOP Stimulus Myths
Do some of the Republican claims you’ve heard about the stimulus bill sound too awful to be true? We find a few that are wildly exaggerated or downright false. It’s not true that the bill contains spending for “golf carts.” It has $300 million to buy fuel-efficient vehicles, some …
Obama’s Supporters Take to the Small Screen
The ink is still drying on the American Reinvestment and Recovery Act, and the government’s corresponding Web site for tracking its progress is still being programmed. But Americans United for Change, a liberal group, already is airing an ad that lauds President Obama for its passage and extols its benefits.
FactCheck.org has reviewed dubious ads from Americans United for Change before, when the group was attacking then-President Bush and other Republicans. This ad repeats the Obama claim that the stimulus will keep or save 3.5 million jobs.