Here are just a couple of fibs Associated Press found amongst the rubble:
THE SPIN: "I've offered spending cuts above and beyond their cost."
THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama's policy proposals would add a net $428 billion to the deficit over four years - and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says, "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say, "Neither candidate's plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified."
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THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9/11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. "
THE FACTS: His proposals - the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more - cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged - although not in his commercial - that "the next president will have to scale back his agenda and some of his proposals."
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