Freedom Line Blog

Kudos to CNN host Erin Burnett for getting Obama campaign spokeswoman Stephanie Cutter to admit that President Barack Obama’s charge that Mitt Romney is campaigning on a $5 trillion tax cut is just wrong.

From a transcript provided by RealClearPolitics:

Erin Burnett, CNN host: So you’re saying if you lower them by 20% you get a $5 trillion tab, right?

Stephanie Cutter: It’s a $5 trillion tab.

[crosstalk]

Burnett: But then when you close deductions it’s not going to be anywhere near $5 trillion, that’s our analysis.

Cutter: Well, okay, stipulated. It won’t be near $5 trillion but it’s also not going to be the sum of $5 trillion in the loopholes that he’s going to close. So it is going to cost someone and it’s going to cost the middle class. Independent economists have taken a look at this. There aren’t enough deductions for those at the top to account for the number of tax cuts that they get because of Mitt Romney’s policy so you have to raise taxes on the middle class. As Bill Clinton said, it’s just simple math.

Burnett: Okay, they’ll just say that you can do that. There are other studies. I know the one to which you’re referring, but there’s also the possibility of economic growth.

Cutter: Prove it. Erin, prove it.

Burnett: We can’t prove either side, that’s all I’m saying, but the one thing that I can say is not true is the $5 trillion tax cut.

Cutter: I disagree with you. You can prove it. So then they should just say that they’re counting entirely on economic growth to pay for a tax cut. Which is an interesting theory because that is what George Bush and let’s look at how that turned out, we had the slowest economic growth since World War II.

Burnett: They’re not saying entirely, they’re saying closing loopholes and economic growth, both. I understand you disagree with it.

Cutter: But that still leaves you at least a trillion dollars short. The math does not work with what they’re saying. And they won’t name those deductions, not a single deduction that they will close because they know that is bad for their politics. Now look, this is the center, this is the core of Mitt Romney’s economic policy. Last night, he walked away from it, said he didn’t have a $5 trillion tax cut. He does. That’s what lowering the rates amounts to.

Don’t confuse them with the facts!

Current commentary on the 2012 presidential race, including here at CFIF, centers primarily on the strength of the germinating Republican field.  The more Barack Obama weakens between now and November 2012, however, the easier the task for whoever emerges from the GOP race.  On that note, two new polls should have Team Obama sweating.  In the first, Rasmussen reports that Obama only leads “Generic Republican” by one point this week.  With most discussion of that generic Republican field focusing on its supposed weakness, that is significant.  In the second, CNN reports that 48% of respondents state Obama’s presidency has been a failure to date, while only 47% rate it successful.  The fact that CNN polled all adults, rather than registered voters or likely voters, is all the more reason for him to worry.

Hats off to CNN for continuing to push the format boundaries of presidential debates.  True, the network’s “You Tube” Democratic debate is remembered best (or is it worst?) for relaying a question from a talking snowman, the recent alliance with Tea Party Express to host a GOP presidential debate is intriguing.  According to CNN’s press release the debate will occur over Labor Day weekend in 2011 in Tampa, FL, site of the 2012 Republican National Convention.  For fiscal conservatives, this debate should be an interesting contest between candidates to prove how much they like reducing government.