FactChecking Biden-Palin Debate

And There's More...

A few other misleads of note:

• Palin said, "We're circulating about $700 billion a year into foreign countries" for imported oil, repeating an outdated figure often used by McCain. At oil prices current as of Sept. 30, imports are running at a rate of about $493 billion per year.
• Biden claimed that McCain said in a magazine article that he wanted to deregulate the health care industry as the banking industry had been. That's taking McCain's words out of context. As we've said before, he was talking specifically about his proposal to allow the sale of health insurance across state lines.
• Biden said five times that McCain's tax plan would give oil companies a "$4 billion tax cut." As we've noted previously, McCain's plan would cut the corporate tax rate from 35 percent to 25 percent—for ALL corporations, not just oil companies. Biden uses a Democratic think tank's estimate for what the rate change is worth to the five largest U.S. oil companies.
• Palin threw out an old canard when she criticized Obama for voting for the 2005 energy bill and said, "that's what gave those oil companies those big tax breaks." It's a false attack Sen. Hillary Clinton used against Obama in the primary, and McCain himself has hurled. It's true that the bill gave some tax breaks to oil companies, but it also took away others. And according to the Congressional Research Service, the bill created a slight net increase in taxes for the oil industry.
• Biden said that Iraq had an "$80 billion surplus." The country was once projected to have as much as a $79 billion surplus, but no more. The Iraqis have $29 billion in the bank, and could have $47 billion to $59 billion by the end of the year, as we noted when Obama used the incorrect figure. A $21 billion supplemental spending bill, passed by the Iraqi legislature in August, knocked down the old projection.
• Biden said four times that McCain had voted 20 times against funding alternative energy. However, in analyzing the Obama campaign's list of votes after the first presidential debate, we found the number was actually 11. In the other instances the Obama-Biden campaign cites, McCain voted not against alternative energy but against mandatory use of alternative energy, or he voted in favor of allowing exemptions from these mandates.

Reprinted with the permission of Factcheck.org

Correction Oct 3: This article originally faulted Biden for saying that McCain had voted "the exact same way" as Obama on a controversial troop funding bill. We said  that McCain was absent for the vote and so didn't vote at all. Biden was however correct.

McCain did vote against the troop-funding bill in question, H.R. 1591, on March 29, 2007,
when it originally cleared the Senate. The vote to which we referred, and which McCain missed, was a later vote on the House-Senate compromise version of the same bill, on April 26, 2007. McCain opposed the bill, which Obama supported, because it contained language calling for withdrawal of troops from Iraq. Biden was responding to Palin's accusation that "Obama voted against funding troops."  Obama voted for the bill March 29 and April 26, then on May  24, 2007, following a veto by President Bush, Obama  voted against a similar troop-funding bill, H.R. 2206, that lacked any withdrawal language.

Correction Oct. 3: In the summary of this story we originally referred to the "president" of Spain. Biden actually used the word "government" and we have corrected the reference.

Sources
Belasco, Amy. "The Cost of Iraq, Afghanistan, and Other Global War on Terror Operations Since 9/11." 14 July 2008. Congressional Research Service. Accessed 2 October 2008.

Pickler, Nedra. "Fact Check: Obama on Afghanistan." The Associated Press. 14 Aug. 2007.

Committee for a Responsible Federal Budget. "Promises, Promises: A Fiscal Voter Guide to the 2008 Election." U.S. Budget Watch. 29 Aug. 2008.

Williams, Roberton and Howard Gleckman. "An Updated Analysis of the 2008 Presidential Candidates' Tax Plans." Urban-Brookings Tax Policy Center. 15 Sep. 2008.

"Impacts of Increased Access to Oil and Natural Gas Resources in the Lower 48 Federal Outer Continental Shelf." 2007. Energy Information Administration. 8 Aug. 2008.

Petroleum Basic Statistics. The Energy Information Administration, 3 Oct. 2008.

NPC Global Oil & Gas Study. "Topic Paper #7, Global Access to Oil and Gas," 18 July 2007.

Clarke, David and Liriel Higa, "Blueprints Gain Narrow Adoption," Congressional Quarterly Weekly, 15 March 2008.

"Iraq Index," Brookings Iraq Index.

Baldor, Lolita C, "General: Urgent need for troops in Afghanistan now," Associated Press. 2 Oct 2008.

"Bush: 8,000 Troops Coming Home By Feb," CBS/AP. 9 Sept 2008.

Tyson, Ann Scott, "Commander in Afghanistan Wants More Troops," Washington Post. 2 Oct 2008.

Barnes, Julian N., "More U.S. troops needed in Afghanistan 'quickly,' general says," Los Angeles Times. 2 Oct 2008.

Table T08-0164 "Distribution of Tax Units with Business Income by Statutory Marginal Tax Rate, Assuming Extension and Indexation of the 2007 AMT Patch, 2009" Urban-Brookings Tax Policy Center, 20 May 2008.

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