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Thursday, October 16, 2008

DEBATE FACT #6: BARACK OBAMA HAS NO INTEREST IN REDUCING THE DEFICIT

~Snooper~


Summary

Barack Obama talks about priorities but he has proposed billions in new spending with no way to pay for it.

The Facts About Barack Obama's Record:

If Barack Obama Could Enact All Of His Campaign Proposals, Taxpayers Would Be Faced With Financing Over $1 Trillion In New Spending Over One White House Term. (Barack Obama's Spending Proposals, Accessed 8/19/08)

PolitiFact Discredits Obama's Claim That20His Proposals Are Paid For; Says His Rhetoric Is "Disingenuous." "Until he fleshes out his economic plan considerably more, it's disingenuous to go around claiming his proposals are 'paid for.' And that claim is even more suspect considering that his proposals would leave a larger deficit than would the tax laws currently on the books. We find his claim to be Barely True." ("'Paid For Without Real Money," St. Petersburg Times' "PolitiFact.com", 6/16/08)

The New York Times' David Brooks Said For Barack Obama To Fund His Domestic Programs, He Will Have To Break His Pledge Not To Tax The Middle Class. "Both [Obama and Clinton] promised to not raise taxes on those making less than $200,000 or $250,000 a year. They both just emasculated their domestic programs. Returning the rich to their Clinton-era tax rates will yield, at best, $40 billion a year in revenue. It's impossible to fund a health care plan, let alone anything else, with that kind of money. The consequences are clear: if elected they will have to break their pledge, and thus destroy their credibility, or run a minimalist administration." (David Brooks, Op-Ed, "No Whining About The Media," The New York Times, 4/16/08)

Chicago Tribune: Barack Obama Hasn 't Been Talking About Balancing The Budget And "Has A Full Plate Of Spending Initiatives." "Obama's campaign on Monday scoffed at the McCain proposals. But Obama hasn't been talking boldly about the certain path to a balanced budget. He promises to cut taxes for most Americans . . . and he has a full plate of spending initiatives." (Editorial, "Failure Of Nerve," Chicago Tribune, 7/8/08)

Los Angeles Times: Barack Obama "Has Not Identified New Revenue Sources Or Spending Cuts To Pay For Some Of" His Proposals. "The Obama campaign responds that tax cuts, once enacted, are usually renewed and do not expire. Therefore, they say, Obama can legitimately claim to be recouping money for other purposes by scaling back the tax cuts. Obama has not identified new revenue sources or spending cuts to pay for some of what he wants to do." (Peter Nicholas, "Adding Up The Cost Of Obama's Agenda," Los Angeles Times, 7/8/08)

ABC News: Barack Obama Can Not "Pay For Every Dime" Of New Spending He Has Proposed. "Sen. Barack Obama, D-Ill., said during Friday's presidential debate that he would 'pay for every dime' of his spending. But according to the nonpartisan Tax Policy Center, 'without substantial cuts in government spending' Obama's plan – and M cCain's, too –'would substantially increase the national debt over the next ten years.' The Tax Policy Center has estimated that Obama's proposed tax policies would increase the debt by $3.5 trillion over ten years." ("Fact Check: 'Pay for Every Dime'? Not Quite," ABC News' "Political Radar" Blog, Posted 9/26/08)

Barack Obama Has No Interest In Eliminating Deficit Spending

Barack Obama: "I Do Not Make A Promise That We Can Reduce [The Budget Deficit] By 2013." "'I do not make a promise that we can reduce it by 2013 because I think it is important for us to make some critical investments right now in America's families,' Obama told reporters this week when asked if he'd match McCain's pledge." (Nedra Pickler, "Analysis: Obama Won't Try For McCain's Budget Goal," The Associated Press, 7/8/08)

Chicago Tribune: Barack Obama Has "No Interest In Eliminating Deficit Spending." "Since winning the nomination, Obama reportedly has been moving toward the middle of the political spectrum. But on the budget, he still sounds left of center, with no interest in eliminating deficit spending." (Editorial, "Failure Of Nerve," Chicago Tribune, 7/8/08)