5. Romney: “A recent study has shown that people in the middle class will see $4,000 a year in higher taxes as a result of the spending and borrowing of this administration.”
The Facts: The governor based his claims on an analysis by the uber conservative American Enterprise Institute which notes the amount of debt in which Obama has accumulated, as well as a computation of how much it would cost to finance the debt through tax increases. But Obama isn’t responsible for all of the deficits that have occurred under his term. The majority of the federal budget runs on its own – Medicare, food stamps, Medicaid and Social Security – and no one in Washington has proposed to cut those programs.
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