Republican presidential candidates, former Massachusetts Gov. Mitt Romney, left, stands next to former House Speaker Newt Gingrich before a Republican Presidential debate Monday Jan. 23, 2012, at the University of South Florida in Tampa, Fla. (AP Photo/Paul Sancya)
Republican presidential candidates, former Massachusetts Gov. Mitt Romney, left, stands next to former House Speaker Newt Gingrich before a Republican Presidential debate Monday Jan. 23, 2012, at the University of South Florida in Tampa, Fla. (AP Photo/Paul Sancya)
WASHINGTON (AP) ? Newt Gingrich called rival Mitt Romney a "terrible historian" but flubbed his own history in Congress on Monday night when he claimed the nation ran four consecutive budget surpluses during his time as House speaker. Romney attacked Gingrich's financial links to Freddie Mac while ignoring his own.
The accusations were fast out of the gate in the latest Republican presidential debate, and reality got tromped in the process.
A look at some of claims and how they compare with the facts:
___
GINGRICH: "When I was speaker, we had four consecutive balanced budgets."
THE FACTS: Actually, two.
The four straight years of budget surpluses were 1998 through 2001. Gingrich left Congress in 1999, so he only had a hand in surpluses for his last two years. The budget ran deficits for his first two years as speaker.
The highest surplus of that four-year string came in budget year 2000, after Gingrich was out of office.
Overall, the national debt went up during the four years Gingrich was speaker. In January 1995, when he assumed the leadership position, the gross national debt was $4.8 trillion. When he left four years later, it was $5.6 trillion, an increase of $800 billion.
___
ROMNEY: "I don't think we can possibly retake the White House if the person who's leading our party is the person who was working for the chief lobbyist of Freddie Mac. Freddie Mac was paying Speaker Gingrich $1.6 million at the same time Freddie Mac was costing the people of Florida millions upon millions of dollars."
THE FACTS: While going after Gingrich forcefully on the issue, Romney did not mention his own earnings from the government-backed lender and its sister entity, Fannie Mae, which came to light in his most recent financial disclosure report.
The report shows he has as much as $500,000 invested in the two lenders. GOP presidential hopefuls almost across the board have blamed the two institutions for contributing to the housing crisis that helped to drag the nation into recession. Among Romney's ties: a mutual fund worth up to $500,000 that includes assets from both lenders among other government income, and separate investments in each of the lenders in Romney's individual retirement account, each worth between $100,000 and $250,000.
Romney campaign officials said Monday the investments were handled by a trustee with no direction by the candidate.
___
Associated Press writers Tom Raum and Jim Drinkard contributed to this report.
Associated Pressnew iphone 5 release mary j blige cole hamels cole hamels curtis painter apple news conference apple news conference
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.