VP Biden railed against Romney backing a territorial tax system. But a number of advisers to the president support the idea as well – including members of the President’s Export Council, the commission the president set up to recommend ways to reduce the deficit, and members of his Council on Jobs and Competitiveness.
This is an incredible line from the Vice President about the “Simpson-Bowles Commission” considering that the White House failed to embrace it – “In Tampa, they talked with great urgency about the nation’s debt. And the need to act, to act now. But not once, not one single time, did they tell you that they rejected every plan put forward by us–by the bipartisan Simpson-Bowles Commission they referenced—or by other respected outside group—to reduce the national debt. They were not for any of them. Why? Because they’re not prepared to do anything about the debt if it contained even one dollar, not exaggerating, even one dollar—one cent—in new taxes for millionaires. Folks, that’s not courage. And that’s not fair.”
President Barack Obama and Vice President Joe Biden made a number of factual assertions in their acceptance speeches. How did they square with reality?
Vice President Joe Biden highlighted President Barack Obama’s decision to green light the May 2011 raid that killed Osama bin Laden as a key indicator of his qualification to be president — but Biden didn’t mention, as he has in the past, that he advised Obama against going through with the raid at the time.
“What they didn’t tell you is what they’re proposing would cause Medicare to go bankrupt by 2016.” –Vice President Biden This is wrong. There are different parts of Medicare, much of which is paid from general revenues and premiums. Part A, which pays hospitals, has a “trust fund,” made up of special-issue Treasury bonds, that always seems to be on the edge of running dry. But even so, the payroll tax could pay most estimated expenditures for decades. And does anyone doubt Congress would not step in and fill any gaps?
Vice President Joe Biden cited job gains under President Barack Obama while ignoring overall job losses, standard fare at the Democratic National Convention. And he laced into Republicans for pitching a Medicare plan that bears little resemblance to their actual proposals.
Elections Joe Biden