Some debate facts from MSNBC

[liberal N proud]

McCAIN: Said one way out of the financial crisis is to "stop sending $700 billion a year to countries that don't like us."

THE FACTS: Although he didn't spell it out, he was referring — as he has in the past — to purchases of oil from countries hostile to the U.S. The figure is inflated and misleading. The U.S. is not spending nearly that much on oil imports and roughly one-third of what it does spend goes to friendly countries such as Canada, Mexico and Britain.
— The Associated Press

McCAIN: In a jab at Obama, McCain said that the last president to raise taxes during difficult economic times was Herbert Hoover during the Great Depression.

THE FACTS: While the recession of the early 1990s didn't compare to the Great Depression, Bill Clinton raised taxes — which, as both Clintons like to remind everyone who will listen, led to the greatest economic expansion in the country's history.
— NBC News' blog First Read

McCAIN: Said he would provide a $5,000 refundable tax credit for families to buy health insurance "rather than mandates or fines for small businesses as Senator Obama's plan calls for."

THE FACTS: Obama's health care plan does not impose mandates or fines on small business. He would provide small businesses with a refundable tax credit of up to 50 percent on health premiums paid on behalf of their employees. Also, large employers that do not offer meaningful coverage or contribute to the cost of coverage would be required to pay a percentage of payroll toward the costs of a public insurance plan. But small businesses would be exempt from that requirement.
— The Associated Press

OBAMA: Said McCain's proposal to give people a tax credit in exchange for treating employers' health insurance contributions as taxable wages amounts to "what one hand giveth, the other hand taketh away."

THE FACTS: Obama's suggestion that McCain's health care plan is a wash for families is misleading. McCain offers families a $5,000 tax credit to help them buy health insurance. The corresponding increase in taxable wages would result in a much smaller cost than the value of the tax credit, at least at first. Over time, the value of the tax credit may diminish as premiums rise. However, the Tax Policy Center estimates that McCain's plan would increase the federal deficit by $1.3 trillion over 10 years — mainly because it would lead to less tax revenue coming in, meaning it is a true tax break overall.
— The Associated Press

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McCAIN: Went after Obama's ties to Fannie Mae and Freddie Mac, especially the campaign contributions Obama has received from their employees.

THE FACTS: What was missing? McCain mentioning the ties his own campaign manager had to both Fannie and Freddie. The New York Times reported that McCain campaign manager Rick Davis' firm received $15,000 per month through August from Freddie Mac. That followed other reporting that Davis received $30,000 per month to head up an advocacy group, the Homeownership Alliance, set up to defend Fannie Mae and Freddie Mac to protect it from more government regulations.
— NBC News' blog First Read

http://www.msnbc.msn.com/id/27076605/?GT1=43001