The rather feisty faceoff between President Obama and Republican Presidential nominee Mitt Romney in the second presidential debate was high on energy level, but like always, both stumbled when it came to facts. Incumbent Obama and challenger Romney misquoted facts at various places throughout the debate.
Here is a look at some of their claims.
Image From: Reuters
Obama: "Let's take the money that we've been spending on war over the last decade to rebuild America, roads, bridges, schools. We do those things, not only is your future going to be bright, but America's future is going to be bright as well."
Facts: Once again President Obama failed to mention that much of the money that was used for wars in Iraq and Afghanistan was borrowed. Hence using that money for building roads, bridges and schools will simply add to the federal budget deficit.
Read More: Fact Checking The Vice Presidential Debate!
Romney: "I know he keeps saying, 'You want to take Detroit bankrupt.' Well, the president took Detroit bankrupt. You took General Motors bankrupt. You took Chrysler bankrupt. So when you say that I wanted to take the auto industry bankrupt, you actually did. And I think it's important to know that that was a process that was necessary to get those companies back on their feet, so they could start hiring more people. That was precisely what I recommended and ultimately what happened."
Facts: Romney makes a misleading statement here. What he recommended did not happen. He opposed the use of government money for bailout purposes; instead he was in favor of privately financed bankruptcy restructuring. But, since the banking sector was in crisis and automakers had no cash of their own, government stimulus packages were the only option left.
Obama:"And what I want to do is build on the 5 million jobs that we've created over the last 30 months in the private sector alone."
Facts: Like always, President Obama was picking his numbers to make them sound better than they actually are. He completely sidelined the fact that the losses in public sector jobs have pushed job creation to new lows. Moreover, he only talked about the past 30 months and sidelined employment losses that have taken place during his presidency up till now.
Romney: "The proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then, the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it's $4.00 a gallon. The price of electricity is up. If the president's energy policies are working, you're going to see the cost of energy come down."
Facts: It is irrational on Romney’s end to blame Obama for energy prices as presidents have almost zero control on this. Most prices are determined based on financial exchanges around the world. When President Obama took charge, the world was in the midst of a global economic crisis. Crude oil prices have soared all over the world due to increasing global demand and with greater consumption of oil.
Apart from this other energy prices have slumped during Obama’s term. After adjustment for inflation, electricity prices have descended, and homeowners now find it easier to heat their homes with natural gas. This is primarily because production of natural gas has surged, reducing its price for homeowner usage.