iReport.com is a user-generated site. That means the stories submitted by users are not edited, fact-checked or screened before they post. Only stories marked "On CNN" have been vetted for use in CNN news coverage. Learn more »
 close
iReport: Unedited. Unfiltered. News. 		Upload Now!
iReports
iReporters
Blog
Map
Home > iReports > Story
Obama, McCain Stretch Facts in Debate
Click to view salem's profile Posted by: salem // 1 month ago // viewed 64 times
embed media

WASHINGTON -- Democrat Barack Obama and Republican John McCain stretched facts, sometimes past the breaking point, as they addressed the financial crisis and more during their second presidential debate.

Some examples:

McCAIN: Said one way out of the financial crisis is to "stop sending $700 billion a year to countries that don't like us."

THE FACTS: Although he didn't spell it out, he was referring _ as he has in the past _ to purchases of oil from countries hostile to the U.S. The figure is inflated and misleading. The U.S. is not spending nearly that much on oil imports and roughly one-third of what it does spend goes to friendly countries such as Canada, Mexico and Britain.

_

OBAMA: "I believe this is a final verdict on the failed economic policies of the last eight years, strongly promoted by President Bush and supported by Senator McCain, that essentially said that we should strip away regulations, consumer protections, let the market run wild, and prosperity would rain down on all of us. It hasn't worked out that way. And so now we've got to take some decisive action."

THE FACTS: McCain has indeed favored less regulation over the years but supported tighter rules and accountability on Fannie Mae and Freddie Mac two years before the start of a financial crisis prompted in part by those giant mortgage underwriters. Obama was not a leader in that unsuccessful effort. Some of the current problems can be traced to legislation passed in 1999 that lifted many regulations over the financial industry. That deregulation was championed by then-Sen. Phil Gramm, R-Texas, a McCain supporter, but also by President Clinton, who signed the legislation, and by former Clinton Treasury Secretary Robert Rubin, now a top Obama economic adviser.

_

McCAIN: Complained that Obama's "cronies and friends" had received money from Fannie and Freddie.

THE FACT: McCain has his own ties to the mortgage giants. Rick Davis, his campaign manager, has been a focus of attention because Freddie Mac and Fannie Mae paid him or his lobbying firm more than $2 million dating back to 2000.

_

OBAMA: "Actually I'm cutting more than I'm spending so that it will be a net spending cut."

THE FACTS: Obama has many ambitious plans to spend more taxpayer dollars on a variety of federal programs, including clean energy technologies and job training. He's said he'll cut pork-barrel programs and the costs of the war in Iraq to pay for it _ as well as raise taxes on the wealthy _ but the specifics of his new spending plans greatly outweigh the few spending cuts he's identified.

_

McCAIN: Said Obama had voted for tax increases "94 times."

THE FACTS: This inflated count, heard before, includes repetitive votes as well as votes to cut taxes for the middle class while raising them on the rich. An analysis by factcheck.org found that 23 of the votes were for measures that would have produced no tax increase at all, seven were in favor of measures that would have lowered taxes for many, 11 would have increased taxes on only those making more than $1 million a year.
Tags: debate, election08
In response to assignment: Who won round two?
Average Rating (3)
E-mail to a friendE-mail this story | Share
Log in to report violation
Log in to Comment Comments