Here is Stephanie Cutter, a leader of Obama's campaign, admitting (after being pressed) that Obama's $5 trillion claim, is a lie.
So when calling Romney a liar, he ... lied himself.
Watch the whole thing. It's pretty good. The money phrase:
BURNETT: But when he closes deductions he won’t be anywhere near $5 trillion. That’s our analysis.
CUTTER: Well with, 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.
Obama's campaign KNOWS that Romney isn't trying to cut $5 trillion, and accuses Romney of lying when he says he is not going to cut taxes $5 trillion, and then just a few days later his campaign manager is on national TV admitting it's not really $5 trillion. Even stipulates to it.
Princeton Economist: Obama Campaign Is Misrepresenting My Study on Romney's Tax Plan | The Weekly Standard
Princeton Economist: Obama Campaign Is Misrepresenting My Study on Romney's Tax Plan
I can’t tell exactly how the Obama campaign reached that characterization of my work. It might be that they assume that Governor Romney wants to keep the taxes from the Affordable Care Act in place, despite the fact that the Governor has called for its complete repeal. The main conclusion of my study is that under plausible assumptions, a proposal along the lines suggested by Governor Romney can both be revenue neutral and keep the net tax burden on taxpayers with incomes above $200,000 about the same. That is, an increase in the tax burden on lower and middle income individuals is not required in order to make the overall plan revenue neutral.
Princeton economist agrees with Romney that it is plausible his proposals can be achieved. Obama cites this very economist while presenting the opposite conclusion.
Yeah, only Romney is lying. This is what Obama said at the debate:
At last night's presidential debate, Barack Obama said that Mitt Romney's tax plan--cutting rates by 20 percent across the board and maintaining revenue neutrality by eliminating loopholes--is mathematically impossible.
"If you are lowering the rates the way you describe, Governor, then it is not possible to come up with enough deductions and loopholes that only affect high-income individuals to avoid either raising the deficit or burdening the middle class," Obama said. "It's — it's math. It's arithmetic."
And then goes on to cite the Princeton economist who actually agrees with Romney, and says the Obama campaign is telling us the wrong facts. I.e., lying.
Ok I'll give them a pass. Obama misunderstood the study he was citing when calling Romney a liar.