[WardFive]

Private-sector job gains

Claim: Obama said the U.S. economy has created 5 million private-sector jobs the past 30 months.

Facts: After the economy plummeted in late 2007 and throughout 2009, the United States has gained 4.6 million private-sector jobs since the labor market bottomed in February 2010 — or 5.1 million under preliminary revisions released last week that are not part of the official tally by the Bureau of Labor Statistics.

Still, that's weak by historical standards. Under President George W. Bush, the private sector also added 5 million jobs in the 30 months after employment hit bottom following the 2001 downturn, and the pace of private-sector gains in the previous two recoveries was far stronger.

 

Rob's adjustment to bring Bush's "accomplishments into proper perspective ---- BUT HERE IS WHERE THE HOCUS POCUS AND THE WAR STARTED.

Tax cuts

Claim: Obama says Romney's tax plan would cut taxes by $5 trillion over 10 years, inflating the deficit.

Facts: Romney has proposed cutting tax rates by 20% in each bracket, which, the liberal Center for Budget and Policy Priorities says would cost $4.9 trillion over 10 years. Romney said his plan will be paid for by curtailing tax deductions, so middle-class people pay less overall and upper-income people don't see lower taxes. Last month in Ohio, Romney said middle-class people would see little change in their taxes under his plan.

Romney has declined to say what tax deductions he would end. The non-partisan Tax Policy Center has contended that middle-class families would see taxes rise about $2,000 a year under Romney's plan if he keeps his promise to make the tax reform revenue-neutral, arguing that it can't be done without ending popular middle-class deductions on mortgage interest and charitable contributions.

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R. Ramson
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"We must become the change we want to see" - Mohandas Gandhi-
(Together, for a Brighter Tomorrow)




 

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