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The GOP Platform's 12 Faultiest Claims

The GOP Platform's 12 Faultiest Claims
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Economics writer

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US Republican presidential candidate Mitt Romney speaks at the American Legion 94th National Convention in Indianapois, Indiana, on August 29, 2012. Romney lies neck-and-neck with Obama in national polls 10 weeks before an election that should be his for the taking, given the sour economy and an unemployment rate that is lingering stubbornly above eight percent. AFP PHOTO/Jewel Samad (Photo credit should read JEWEL SAMAD/AFP/GettyImages)

Last week, the Republican Party released its 2012 platform, a document that proposes sweeping reforms designed to limit the size and role of government in the United States. Mixed in there are some inaccuracies too.

The Romney campaign's stance on factually-based claims has been a subject of scrutiny lately. Just in the last few weeks, the media has called out Republican vice presidential nominee Paul Ryan for a number of factual mistakes and misleading assertions, and a Romney aide has said they would not let their "campaign be dictated by fact-checkers." Pay us no mind then.

Here are some of the GOP platform's faultiest claims:

The GOP Platform's Faultiest Claims
On The Stimulus(01 of12)
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The GOP platform claims that "the waste of billions in 'stimulus' funds'" had "no payoff in jobs." In fact, the 2009 stimulus saved or created more than 3 million jobs, according to the nonpartisan Congressional Budget Office. (credit:AP)
On Federal Regulations(02 of12)
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The GOP platform claims that federal regulations cost $1.75 trillion per year. But researchers have largely discredited this figure. (credit:AP)
On Health Care Reform(03 of12)
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The GOP platform claims that the Affordable Care Act is "budget-busting." However, the Obama administration's health care reform law actually reduces the deficit, according to the nonpartisan Congressional Budget Office. (credit:AP)
On Medicare(04 of12)
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The GOP platform claims that without reforms, Medicare and Medicaid "are headed for bankruptcy." Though Medicare has long-term financial problems, it is not on the brink of bankruptcy, according to the Center for Budget and Policy Priorities. (credit:AP)
On Welfare Reform(05 of12)
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The GOP platform claims that Obama's decision to allow waivers for welfare reform's work requirements was "in other words, to administratively repeal the most successful anti-poverty policy in memory." But the work requirements still are in place, according to severalmedia outlets and Dean Baker, co-director of the Center for Economic and Policy Research. Welfare reform was not so successful either; as Baker notes, the poverty rate is on track to reach its highest level since the mid-1960s. (credit:AP)
On Inflation(06 of12)
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The GOP platform claims that "the inflation tax is regressive." But inflation, which is at historically low levels, would help low-income and middle-income people the most by stimulating job growth and making it easier for debtors to pay off their debt, according to Dean Baker, co-director of the Center for Economic and Policy Research. (credit:AP)
On Corporate Tax Breaks(07 of12)
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The GOP's platform claims that reducing the corporate tax rate would "spur job creation here at home." Last time the U.S. did that, in 2004, corporations laid off thousands of U.S. workers, according to the Center on Budget and Policy Priorities. (credit:AP)
On The Housing Bubble(08 of12)
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The GOP platform claims that "Fannie Mae and Freddie Mac were a primary cause of the housing crisis because their implicit government guarantee allowed them to avoid market discipline and make risky investments." On the contrary, the riskiest mortgages were securitized by big banks, not Fannie Mae and Freddie Mac, according to Dean Baker, co-director of the Center for Economic and Policy Research. (credit:AP)
On Health Care Reform(09 of12)
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The GOP platform claims that voucherizing Medicare is "the only way to limit costs." However, Obamacare already reduces Medicare spending without resorting to what former federal budget director Peter Orszag calls "the health care competition tooth fairy." (credit:Flickr: Center for American Progress)
On Home Sales(10 of12)
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The GOP platform claims that "home sales remain weak." But existing home sales have risen more than 25 percent since the mid-1990s, as should be expected with population growth, according to Dean Baker, co-director of the Center for Economic and Policy Research. "Investment in housing is down because the building boom of the bubble years gave us a record level of housing vacancies," Baker notes. (credit:AP)
On Social Security(11 of12)
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The GOP platform claims that "younger Americans have lost all faith in the Social Security system." However, only 21 percent of non-retirees say they do not expect Social Security to be a source of income when they retire, according to Gallup. (credit:AP)
On Homeownership(12 of12)
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The GOP platform claims that "homeownership...helps Americans create wealth." However, the returns on U.S. housing investment have been nearly flat over the past century when adjusted for inflation, according to Yale professor and housing expert Robert Shiller. (credit:AP)

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