“Obama started spending like our credit cards have no limit.”

Claim: “Obama started spending like our credit cards have no limit.”

Ad(s): Basketball (60 sec.)/Basketball (30 sec.)

Sponsor(s): Crossroads GPS

Air Dates: May 23 – Jul. 12, 2012

Total Estimated Spending On This Claim:  $1,813,001 ($2,964,221 Total)

Markets: Burlington, Cedar Rapids, Charlotte, Charlotesville, Cincinnati, Cleveland, Colorado Springs, Columbus (OH), Davenport, Dayton, Des Moines, Erie, Flint, Ft.Meyers, Grand Junction, Grand Rapids, Greensboro, Greenville (NC), Greenville (SC), Harrisburg, Jacksonville, Johnstown, Lansing, Las Vegas, Lima, Mobile, Norfolk, Omaha, Orlando, Pittsburgh, Portland (ME), Raleigh, Roanoke, Sioux City, Tampa, Toledo, Traverse City, Tri-Cities, Washington D.C., West Palm Beach, Wilmington, Youngstown, Manchester (NH), Reno, Wilkes Barre, Richmond

Factcheck.org Summary:  When Obama took office in January 2009, the federal deficit was already running at $1.2 trillion for the fiscal year that had begun nearly four months earlier, according to the nonpartisan Congressional Budget Office. It has risen since then, and Obama has failed to make good on a promise to cut the deficit by half. But it’s misleading to say Obama “started” spending borrowed money. In fact, the numbers show spending actually has increased far more slowly under Obama’s budgets that it did under Bush’s, and more slowly than under any president in half a century. Click here to read more

Washington Post Fact Checker Summary: The ad displays a chart showing the national debt increasing from $9 trillion to $15 trillion, but it’s one of those asymmetrical charts (starts at $9 trillion) that overemphasizes the increase. In fact, the chart shows that government spending has largely gone flat in the last year.   As we have shown before, the increase in the debt is mostly the result of a sharp decline in revenue (red line in chart below) at the start of the recession, before Obama took office, and a steep increase in spending (blue line), which was partly the result of the administration’s stimulus bill but also the automatic economic stabilizers (such as unemployment insurance) created by the recession. Republicans might argue that Obama’s credit card hit a limit – the GOP takeover of the House of the Representatives – but in any case the days of increased spending are in the past. Click here to read more

FlackCheck.org’s related video(s):  Crossroads GPS Attack Soothes… With Inaccuracies?