From Deseret News archives:

Obama, McCain stretch facts in debate

Published: Tuesday, Oct. 7, 2008 9:08 p.m. MDT
 |  E-MAIL | PRINT | FONT + - 
WASHINGTON — Democrat Barack Obama and Republican John McCain stretched facts, sometimes past the breaking point, as they addressed the financial crisis and misrepresented each other's position on health care 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."

Story continues below
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: Said he would provide a $5,000 refundable tax credit for families to buy health insurance "rather than mandates or fines for small businesses as Senator Obama's plan calls for."

Recent comments

I am with you. It's down to voting for the lesser of the two evils.

Frustration II | Oct. 7, 2008 at 10:03 p.m.

That was the truly frustrating thing about the debate tonight...BOTH...

Frustration | Oct. 7, 2008 at 9:36 p.m.

previousnext

Latest comments

2 arrested in $3 robbery

Wow. Seriously? Who pissed in your orange juice this morning? Two men...

Kay McIff says big families don't really need a tax break? I thought this...

That's right. Another Gorbasm. Reagan? What did he do?

Lambert rocks!!! BYU-overrated! BYU fans-uberannoying!!! Every year UTAH out...

Hall, Jorgensen honored by MWC

who insist that comparable scores against common opponents are no measure of...

I know exactly why he left. Because I (and I'm sure hundreds of others)have...

it is tragic that the prime commericial space adjacent to the Wells Fargo...

Hasan's lawyer to meet with him

I am not a Liberal, that is why I think this guy will get off with life or...

What's wrong with Ak defense? he is cleanning others mess. Deron cannot stand...

Weren't the Money Changers in the Temple -- Capitalists?

Advertisements
Advertisement