Romney’s 2nd, 3rd and 4th Biggest Debate Lies

Dave Johnson

Earlier I pointed out Romney biggest debate lie: Obama did not “double the deficit” he cut it by almost 1/3. Here are three more big Romney debate lies.

1) Unemployment rate. Obama promised to bring unemployment down to 5.4%. This is another lie — Obama never promised this. USA Today’s Debate Fact Check explains:

Claim: Romney said Obama said unemployment would be 5.4% by now.

Facts: Two economists who would soon join the Obama administration issued a report in early January 2009 – before Obama’s inauguration – predicting that an economic stimulus plan would prevent unemployment from rising above 8% and would push it down to about 5.4% by the third quarter of 2012. However, the economists underestimated the severity of the recession. Even without the stimulus, they forecast in that report that the jobless rate would be 5.9% by now.

Last year, the Commerce Department said the slump was far worse than it had estimated, with the economy contracting almost 9% in the fourth quarter of 2008 and 5.3% in the first quarter of 2009.

2. Number of People Working. ROMNEY: “We have fewer people working today than we had when the president took office.” The Nation explains, in Romney’s Seven Biggest Debate Lies,

This is flatly false. The Bureau of Labor statistics just revised estimates from March 2011 to March 2012 upwards by 386,000 jobs—meaning that Obama crossed the magic imaginary barrier of net job creation for his term, and has actually created a net positive 125,000 jobs. This is a simple fact. And there have been 868,000 jobs created in the private sector during this time, which have been offset by public sector job losses—something Mitt Romney would like to see continue.

Moreover, this is an awful tough metric to judge Obama on in the first place. As he’s fond of mentioning, the economy was hemorrhaging 800,000 jobs a month when he took office—so holding him to a net job creation standard means he has to make up for those massive losses that were out of his control entirely. But he’s still done it.

This is so important to understand. When Obama took office we were losing more than 800,000 jobs per month. The stimulus completely turned that around. This chart says it all:

When Romney talks about jobs lost under Obama, he is talking about the left side of that chart, when the country was still suffering from the Bush crash! And just look at the tremendous difference the stimulus made, just completely turning things around!

3. Half of College Kids Unemployed. ABC News, Debate Fact Check: The Presidential Debate clears this one up,

ROMNEY: With half of college kids graduating this year, without a college – excuse me – without a job and without a college level job, that’s just not acceptable.”

ABC’s Z. Byron Wolf has the facts:

Youth unemployment is far lower than 50 percent.

… The unemployment rate for the young, just like it has more broadly, has fallen in the U.S. Back when the study was conducted, the unemployment rate for those from 20-24 was about 16 percent. In data for September it was 12.4 percent.

Zunaira Zaki adds…

The unemployment rate for college graduates with a bachelor’s degree or higher was 6.3 percent in September, down from 8.1 percent at the same time last year.

Lie after lie after lie…

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