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View Diary: Reality and the post-debate responses (263 comments)

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  •  Honesty you call it? Fortunately we have what is (0+ / 0-)

    called a transcript:

    The President pointed out the fallacy of Romney's argument:

    When you add up all the loopholes and deductions that upper income individuals can -- are currently taking advantage of -- if you take those all away -- you don’t come close to paying for $5 trillion in tax cuts and $2 trillion in additional military spending. And that’s why independent studies looking at this said the only way to meet Governor Romney’s pledge of not reducing the deficit -- or -- or -- or not adding to the deficit, is by burdening middle-class families.

    The average middle-class family with children would pay about $2,000 more. Now, that’s not my analysis; that’s the analysis of economists who have looked at this. And -- and that kind of top -- top-down economics, where folks at the top are doing well so the average person making 3 million bucks is getting a $250,000 tax break while middle- class families are burdened further, that’s not what I believe is a recipe for economic growth.

    The President schooled Romney on math:
    Well, for 18 months he’s been running on this tax plan. And now, five weeks before the election, he’s saying that his big, bold idea is “never mind.” And the fact is that if you are lowering the rates the way you describe, Governor, then it is not possible to come up with enough deductions and loopholes that only affect high-income individuals to avoid either raising the deficit or burdening the middle class. It’s -- it’s math. It’s arithmetic.
    Did we watch the same debate? The President used the Clinton record to indict Romney and his claims:
    Jim, I -- you may want to move on to another topic, but I would just say this to the American people. If you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for -- $7 trillion, just to give you a sense, over 10 years that’s more than our entire defense budget -- and you think that by closing loopholes and deductions for the well-to-do, somehow you will not end up picking up the tab, then Governor Romney’s plan may work for you.
    But I think math, common sense and our history shows us that’s not a recipe for job growth.

    Look, we’ve tried this -- we’ve tried both approaches. The approach that Governor Romney’s talking about is the same sales pitch that was made in 2001 and 2003. And we ended up with the slowest job growth in 50 years. We ended up moving from surplus to deficits. And it all culminated in the worst financial crisis since the Great Depression.

    Bill Clinton tried the approach that I’m talking about. We created 23 million new jobs. We went from deficit to surplus, and businesses did very well.

    This is what you said:
    When you let someone completely redefine themselves in a debate and fail to immediately jump on their hypocrisy, you're doing a poor job.
    You have just been contradicted by the facts. But I have no doubt you'll deny the facts presented here.... Fox news bubble you say?

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