Just Words: Barack Obama's Misleading Infomercial

ARLINGTON, VA -- Last night, Barack Obama's infomercial offered the American people a nicely packaged product of misleading information. Check out the facts below:

JUST WORDS #1: Barack Obama Decries Record Deficits But Admits He Has No Interest In Reducing The Deficit

Barack Obama: "We were running a record deficit and our national debt had never been higher." (Obama For America, "American Stories And American Solutions" Ad, 10/29/08)

· 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)

· The Associated Press: Barack Obama Not "Even Trying" To Balance The Budget And "Frankly Says He's Not Sure He'd Bring It Down At All In Four Years." "Barack Obama says John McCain's plan to balance the budget doesn't add up. Easy for him to say: It's not a goal he's even trying to reach. Not only does Obama say he won't eliminate the deficit in his first term, as McCain aims to do, he frankly says he's not sure he'd bring it down at all in four years, considering his own spending plans." (Nedra Pickler, "Analysis: Obama Won't Try For McCain's Budget Goal," The Associated Press, 7/8/08)

JUST WORDS #2: Barack Obama Talks About Leadership In The Financial Crisis But When The Crisis First Began, He Refused To Lead

Barack Obama: "But then a little over a month ago, the bottom fell
out. What happened in the financial markets was the final verdict on eight years of failed policies. And we're now going through the worst economic crisis since the Great Depression. A few weeks ago, we passed a financial rescue plan. It's a step in the right direction ... and as president, I'll ensure that you, the taxpayers, are paid back first. But we also need a rescue plan for the middle class ... starting with what we can do right now that will have an immediate effect."

(Obama For America, "American Stories And American Solutions" Ad, 10/29/08)

· The Washington Times: "Obama Mum On Market Crisis." "Democratic presidential nominee Sen. Barack Obama opted Friday not to divulge details of his recovery plan for the financial crisis after a morning meeting with his top economic advisers -- fearing it would stir Wall Street jitters." (S.A. Miller, "Obama Mum On Market Crisis," The Washington Times, 9/20/08)

· Barack Obama Did Not Make Calls To Round Up Votes For The Economic Recovery Package.

ABC's JOHN BERMAN: "The McCain campaign has been hammering Obama suggesting he did not take a leading role in the financial negotiations."

SEN. MCCAIN: "At first, he didn't want to get involved. Then, he was monitoring the situation."

BERMAN: "Indeed, Obama aides say he did not make any calls to help round up votes." (ABC's "Good Morning America," 9/30/08)

· Barack Obama "Hinted That Had He Known Earlier The Deal Was Going Down To Defeat He Would Have Worked The Phones Even Harder." "Obama also hinted that had he known earlier the deal was going down to defeat he would have worked the phones even harder, especially given that some of those who voted no, were some of his early supporters." (Lee Cowan, "Obama Places No Blame, But..." MSNBC's "First Read" Blog, http://firstread.msnbc.msn.com, Posted 9/30/08)

· Fox News' Major Garrett Reported That Barack Obama Would Not Take A Position On Whether Or Not He Supported Or Opposed The Government Rescue Of AIG.

GARRETT: "On the biggest financial issue of the day, Barack Obama would not say if he supported or opposed the government-backed rescue of insurance giant AIG."

BARACK OBAMA: "We don't know all the details of the arrangement with AIG and the Federal Reserve must ensure that plans protect the families that count on insurance."

GARRETT: "Obama also wants taxpayers protected but executives and shareholders exposed but on the central question to intervene or not, Obama sidestepped. Advisers said lack of details forced caution. The larger political truth: advisors believe anxiety alone is enough to lift Obama in the polls. That is why on the trail, Obama doesn't talk about specifics of the moment but the nation's overall direction." (Fox News' "The Special Report," 9/17/08)

JUST WORDS #3: Barack Obama Says He'll Cut Taxes For Those Making Less Than $200,00 But Yesterday It Was Either $250,000 Or $150,000

Barack Obama: "As president, here's what I'll do: Cut taxes for every working family making less than $200,000 a year." (Obama For America, "American Stories And American Solutions" Ad, 10/29/08)

· In July 2008, Barack Obama Said: "If You Make $250,000 A Year Or Less, We Will Not Raise Your Taxes. We Will Cut Your Taxes." (Barack Obama, Remarks, Powder Springs, GA, 7/8/08)

· Joe Biden: "Spreading the wealth was not--he was talking about is
all of the tax breaks have gone to the very, very wealthy. For example you have right now, this year, under the old tax policy that was just -- that was put in by George Bush, people making an average 1.4 million a year, good people, decent people, patriotic -- they're going to get an $87 billion tax break. What we're saying is that $87 billion tax break doesn't need to go to people making an average of 1.4 million, it should go like it used to. It should go to middle class people -- people making under $150,000 a year."

(Joe Biden, Interview With WNEP Scranton, 10/27/08)

· Obama-Biden Campaign Aides Said That Those Making Between $150,000 And $250,000 Will Actually Not See A Tax Increase Or A Tax Cut. "Biden aides say his comments were actually consistent with Obama's tax plan -- people under $150,000 get a cut, and people making up to $250,000 stay the same." (Mark Murray and Mike Memoli, "$150,000 Vs. $250,000," MSNBC's "First Read" Blog,
http://firstread.msnbc.msn.com, Posted 10/28/08)

JUST WORDS #4: Barack Obama Says That His Business Tax Plan Will Create Jobs Here But His Running-Mate Disagrees

Barack Obama: "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."

(Obama For America, "American Stories And American Solutions" Ad, 10/29/08)

· The Washington Post: Barack Obama's Plan On Business Taxes "Would Make It Even Harder" For Corporations To Compete And Will Hurt Workers In The United States. "Barack Obama says that he would 'end tax breaks for corporations that ship jobs overseas' and blasts John McCain for refusing to condemn such loopholes. But the offshoring issue is more complicated than Mr. Obama's rhetoric suggests. ... Mr. Obama's proposal would change the provision in which U.S.-based companies don't have to pay taxes on their earnings abroad until that income is 'repatriated' -- brought back into the United States, for example as dividend payments. ... Mr. Obama's suggested fix would make it even harder for them to compete abroad -- ultimately hurting workers and others here." (Editorial, "The Export Of Jobs," The Washington Post, 8/17/08)

· The Wall Street Journal Said Barack Obama's Proposal Penalizes Most American Companies That Have Subsidiaries Abroad With "A Big Tax Increase." "Under Mr. Obama's plan, 'patriot employers' qualify for a 1% tax credit on their profits. To finance this tax break, American companies with subsidiaries abroad would have to pay the U.S. corporate tax on profits earned abroad, rather than the corporate tax of the host country where they are earned. Since the U.S. corporate tax rate is 35%, while most of the world has a lower rate, this amounts to a big tax increase on earnings owned abroad." (Editorial, "Obama's 'Patriot' Act," The Wall Street Journal, 2/27/08)

· Joe Biden Acknowledged That Eliminating Tax Breaks For Corporations Won't Keep Jobs Here; That America Has To Make It "More Attractive" For Corporations To Operate Here.

Biden: "I agree with everything that was said here. But the bottom
line here is that eliminating the tax breaks is not going to keep jobs here in America. We've got to make it more attractive to have jobs here in America and for corporations to be here. You've got to take the burden off the corporations with a health care system that's universal, so we're not at a competitive disadvantage." (Sen. Joe Biden, Democrat Presidential Candidates Debate, Howard
University, Washington, DC, 6/28/07)

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