Romney Fights Back Against Obama's $5 Trillion Lie

The Romney continues to point out the lie Obama spewed during the the debate.  In this  new television ad they show President Obama continuing  to lie about  Romney’s economic plan even though news outlets and even the Obama spokesman campaign say that the claim just isn't true. On the other hand, President Obama’s economic plan is a $4,000 tax increase on the middle class and is one more reason we can’t afford four more years of his failed policies.

Take a look at the video and transcript below  (If you cannot see video below click here)
 

 

VOICEOVER: “President Obama continues to distort Mitt Romney’s economic plan.”

VOICEOVER: “The latest?”

VIDEO TEXT: “The Latest?”

VOICEOVER: “Not telling the truth about Mitt Romney’s tax plan.”

VIDEO TEXT: “Not Telling The Truth.”

VOICEOVER: “The AP says doesn’t add up.”

VIDEO TEXT: “Obama’s Claim? ‘Doesn’t Add Up,’ AP, 10/3/12”

The Associated Press Said “Obama's Claim That Romney Wants To Cut Taxes By $5 Trillion Doesn't Add Up." "Obama's claim that Romney wants to cut taxes by $5 trillion doesn't add up. Presumably, Obama was talking about the effect of Romney's tax plan over 10 years, which is common in Washington. But Obama's math doesn't take into account Romney's entire plan." (Calvin Woodward, "FACT CHECK: Presidential Debate Missteps,” The Associated Press, 10/3/12)

VOICEOVER: “ABC News: mostly fiction.”

VIDEO TEXT: “Obama’s Claim? ‘Mostly Fiction,’ ABC News, 10/3/12”

ABC's Jon Karl, On President Obama’s $5 Trillion Claim: "Mostly Fiction." KARL: "Okay, so, the big thing there, and he came back to it several times, is Governor Romney has a $5 trillion tax cut plan. I rate that mostly fiction." (ABC's “Your Voice: 2012 Presidential Debates,” 10/3/12)

VOICEOVER: “Even the Obama campaign admitted it wasn’t true.”

STEPHANIE CUTTER: “Well, okay, stipulated, it won't be near $5 trillion.”

CUTTER: “It won't be near $5 trillion.”

VIDEO TEXT: “Stephanie Cutter, Obama 2012 Deputy Campaign Manager, October 4, 2012”

Obama Deputy Campaign Manager Stephanie Cutter: “Okay, Stipulated, It Won’t Be Near $5 Trillion…” BURNETT: “Right. So you're saying if you lower them by 20% you get a $5 trillion tab, right?” CUTTER: “It's a $5 trillion tab.”  BURNETT: “But then when you close deductions it’s not going to be anywhere near $5 trillion. That's our analysis.” CUTTER: “Well, okay, stipulated, it won't be near $5 trillion, but it's also not going to be the sum of $5 trillion in the loopholes that he's going to close.” (CNN, 10/4/12)

VOICEOVER: “Obama’s plan? $4,000 more in taxes on the middle class.”

VIDEO TEXT: “Obama’s Plan? $4,000 More In Taxes On The Middle Class, American Enterprise Institute, 10/2/12”

The American Enterprise Institute Has Calculated That The Annual Cost Of President Obama’s Current And Looming Debt Burden Amounts To $4,000 Per Year In Higher Taxes On The Middle Class. “In a new paper, AEI’s Matt Jensen looks at the real annual cost of servicing the debt for households at various levels of income — including a potentially higher tax burden. As the table below illustrates, a household making between $100,000 and $200,000 a year could find its tax liability higher by roughly $2,400 every year. Over ten years, that works out to $24,000. And when you add in the debt already accrued the past four years under President Obama (the second table), that’s another $1,600 a year. So now we are now talking about  $4,000 a year, $40,000 over ten years.” (James Pethokoukis, “Study: Obama’s Big Budget Deficits Could Mean A $4,000 A Year Middle-Class Tax Hike,” American Enterprise Institute, 10/2/12)

VOICEOVER: “We can’t afford four more years.”

VIDEO TEXT: “We Can’t Afford Four More Years.”

MITT ROMNEY: “I’m Mitt Romney and I approve this message.”