Romney Debate Lies

Critics say Mitt Romney came out on top in the presidential debate of October 3, 2012. Within minutes, I heard Romney interrupt the President over and over while the President played by the rules. Some people think because the President was reserved he must be hiding something. Scammers are good liars and Romney is no different. Romney’s tone and aggressiveness may have sold those looking for such in a president but I took the President’s position as more dignified as I don’t condone rudeness or bullies. I listened for the facts, did the math and checked his platform.  

Romney said Spain spends 42% of its budget on government and now we are (back in January he said it was 37%). The Center on Budget and Policy Priorities on August 13, 2012 said in fiscal year 2011, the federal government spent $3.6 trillion. Of the $3.6 trillion, $2.2 trillion was financed by federal tax revenues, $83 billion by excess profits on assets held by the Federal Reserve and the remaining $1.3 trillion was financed by borrowing; this deficit will be paid for by future taxpayers. To come up with Romney’s 42% it would include the $718 billion or 20% spent on defense and national security, 7% on veterans and retired federal employees, 7% on debt interest or $230 billion, 4% on other government programs, 3% on infrastructure and 1% on non-security international affairs  (including humanitarian aid). It seems the President was telling the truth about eliminating 77 government programs that weren’t working and the removal of $1 trillion from the discretionary domestic budget. The remaining 58% is $731 billion - 20% on Social Security, $769 billion or 21% on Medicare ($486 billion), Medicaid, and other health programs for children, 13% on non-health programs for low income families, the elderly, disabled, unemployed-help with energy bills, food stamps, housing, etc. (the report said without this assistance poverty would have been 28.6% rather than 15.5 percent), 2% education, and 2% science and medical research.

President Obama said oil companies received $4 billion in tax breaks and Romney came back with the Department of Energy said the tax break for oil is $2.8 billion. I look at the latest Department of Energy report that said removing the subsidies would generate $43.6 billion of additional revenue over the next 10 years ($4.36 billion per year). Romney also said Obama promised to cut the deficit in half instead he doubled it. This guy really can’t do the math. When Clinton left office the national debt was $5.728 trillion and George W. Bush left it at $10.627 trillion (up $4.899 trillion or 86%). Because Obama couldn’t get rid of the Bush tax cuts the deficit is now $16.1 trillion (up 66%); not double like Reagan ($848 billion to $2.7 trillion, 218%). I don’t know why the President didn’t come out argumentative and it’s too bad there aren’t any bells that go off every time a lie is told. I have more to say about the debate and hope when all is said and done Americans are smart enough to see the Romney scam coming.