Obama “is adding $4 billion in [national] debt every day, borrowing from China for his spending.”

Claim:  Obama “is adding $4 billion in [national] debt every day, borrowing from China for his spending.”

Ad(s): “Stopwatch”

Sponsor(s): Crossroads GPS

Air Dates: Jun. 5-21, 2012

Total Estimated Spending On This Claim:  $2,855,061

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

Washington Post The Fact Checker’s Summary:  “But the national debt is not just the result of spending; it is also because revenues are not high enough to pay for government outlays. It is that mismatch that creates the national debt.

[…] Some $600 billion of the deficit during Obama’s presidency comes from making interest payments on debt issued before he became president. Those interest payments have added to the debt (especially in the gross debt category, because interest payments are paid with more bonds), and it does not seem entirely fair to blame Obama for all of that.

[…] This ad exaggerates Obama’s impact on the rise of the debt, as it was not just spending, but a decline in revenue that is responsible for the sharp rise in federal budget deficits. Obama has proposed policies to help reduce the deficit – which Crossroads opposes. That’s their right, but it seems strange to suggest he has done nothing about it.”

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