Issues: Debt Ceiling

Crossroads GPS: “No Clue”

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An ad from Crossroads GPS nonsensically attacks New Mexico Senate candidate Rep. Martin Heinrich both for too much spending and for a vote that may result in spending cuts. In reality, it was the recession and policies like the Bush tax cuts – both rounds of which Heinrich’s opponent voted for – that drove up debt. The automatic spending cuts are looming thanks to Republicans’ refusal to compromise on deficit reduction; when Heinrich voted for the last-minute deal that imposed those cuts as an incentive for a super committee to find compromise on deficit reduction, his primary concern was raising the debt limit and avoiding the economic catastrophe that would have resulted from default.

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American Crossroads: “Debate”

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American Crossroads wants to know what it is about President Obama’s first term indicates that “another four years would be better” if he wins the election. The answer is simple: Obama inherited an economy that was losing hundreds of thousands of jobs per month, as Americans suffered through the worst downturn since the Great Depression. Today the economy is growing – as evidenced by 4.97 million new private-sector jobs created in the last 32 months – and consumer confidence has climbed to its highest level since February 2008. The ad also blames the Obama’s spending for the rising debt, but the real culprits are Bush-era policies and the recession itself, and Republicans have repeatedly blocked Obama’s deficit-reduction proposals.

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Americans For Tax Reform: “Safe”

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Blaming Rep. John Barrow for unemployment figures caused by the recession, Americans for Tax Reform ties the Georgia Democrat to President Obama, who inherited a tanking economy but has lately presided over 31 months of steady private-sector growth. ATR also attacks Barrow over his votes to raise the debt ceiling, which prevented the economic catastrophe associated with default on our debts but didn’t authorize any new spending.

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American Crossroads: “Silent”

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American Crossroads blames Montana Sen. Jon Tester (D) for debt that was caused by the recession and policies like the Bush tax cuts, both rounds of which his opponent supported. The ad cites a series of votes to prove its point, but the votes were primarily on bills to prop up a floundering housing market and economy or to raise the debt ceiling, a maneuver that doesn’t authorize new spending but does prevent the economic catastrophe that would result from defaulting on our obligations.

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Restore Our Future: “Flatline”

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A Restore Our Future ad titled “Flatline” suggests that the economy is “dead” and will stay that way as long as President Obama is in office. That’s absurd: Under Obama, the enormous monthly job losses President Bush left behind have turned into steady private-sector growth, including 4.97 million new jobs in the last 32 months.

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Crossroads GPS: “Both”

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Crossroads GPS doubles up in an ad hitting both President Obama and Tim Kaine for spending, deficits, taxes, and looming defense cuts brought on by the failure of a deficit-reduction super committee to reach a deal. The group also uses an out-of-context quote from Kaine to suggest he blindly supports the president’s policies. In reality, the recession created budget deficits on the state level, while Bush-era Republican policies are largely responsible on the national level. Spending growth is low under Obama, and Kaine cut billions to leave Virginia with a balanced budget. And while both Kaine and Obama supported the debt limit deal that created the super committee and imposed sequester as an incentive for compromise, both support finding a way to avoid the defense cuts.

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Americans for Tax Reform: “Charlie Wilson – Control”

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Americans for Tax Reform attacks Rep. Charlie Wilson over rising national debt, blaming him for “reckless spending,” when in reality, the recession and policies like the Bush tax cuts are the guilty parties. Wilson’s vote for the bank bailout helped prevent a potential depression, and his vote to raise the debt limit didn’t cause new spending — it prevented the economic catastrophe that would have resulted from a default on federal debts.

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Congressional Leadership Fund: “Twinkle”

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Citing a series of votes between 2008 and 2011, Congressional Leadership Fund blames Rep. Lois Capps (D-CA) for the rising debt. In reality, recent deficits have been fueled by the recession and Bush-era policies like tax cuts for the wealthy. The votes the ad targets, by contrast, were for bills designed to rescue failing banks, the floundering housing market, and a tanking economy, and to raise the federal debt limit – a procedure that does not authorize new spending but does prevent the government from defaulting on its loans.

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American Crossroads: “At Stake”

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Clint Eastwood may not speak to an empty chair in the ad he filmed for American Crossroads, but he’s no less confused about President Obama’s record than he was during his infamous performance at the Republican National Convention. The octogenarian actor says, “In the last few years, America’s been knocked down,” ignoring nearly five million new private-sector jobs created in the last two-and-a-half years of growth. He also wrongly blames Obama for high deficits driven mainly by Bush policies, such as tax breaks for the wealthy, and the recession the president inherited.

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Restore Our Future: “Better”

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Restore Our Future is running an ad in 10 states making the case that “Barack Obama’s economy isn’t working.” The pro-Romney super PAC blames President Obama for the consequences of the devastating recession he inherited, ignoring the fact that the economy is growing and the private sector has added 4.7 million jobs in the last 31 months. The group also blames Obama for high deficits fueled by Bush policies and the recession, as well as for the credit downgrade that resulted from the GOP’s reckless approach to the debt ceiling and refusal to consider any deficit-reduction measure that increases revenue.

Read more after the jump.