Bloomberg: Republicans routinely lie during Bloomberg Debate

Republicans Stretch Truth in Debate Salvos

By Bloomberg News - Oct 12, 2011 12:25 AM ET

Romney on Economy

The Claim: Romney said “median income in America has declined by 10 percent during the Obama years.”

Romney on Health

The Claim: Romney said Obama’s health-care law raised spending by $1 trillion.

Perry on Jobs

The Claim: Perry said taxpayer-funded programs to lure employers have created 54,600 jobs in Texas. He said 75 percent of the dollars went to recipients that didn’t contribute to his campaign.

Cain on Deficit

The Claim: Cain pledged to present a balanced budget a year after taking office. He said the only way to bring down the national debt is “the first year that I’m president and I oversee a fiscal-year budget, make sure that revenues equals spending. If we stop adding to the national debt, we can bring it down.”

Bachmann on Health

The Claim: Bachmann said Obama’s health-care law will be run by a board of 15 political appointees who will “make all the major health- care decisions for over 300 million Americans.”

ETC ETC

Now, of course the Democrats routinely lie too. But for the lead Headline in a debate on the economy sponsored by the leading economic news provider to trumpet the fact that the candidates spent the entire evening lying, is symptomatic of the major problem in our economy: TRUST.

Without trust all economic activity will eventually cease.

Do you trust the politicians to be truthful about the problems facing the economy? Do you trust that politicians act in the interest of the American People rather than the interest of themselves and their parties? Do you trust that the Fed is working in the interest of the American people rather than the interest of the banks that own it? Do you trust that the banks are truthful about the state of their balance sheets? Do you trust the quality of the earnings as stated by US corporations? Do you trust the earnings projections of the Analysts at major US Fincancial instituitions? Do you trust the recommendations of your broker? Do you trust your colleagues where you work? Do you trust that your competitors will act fairly and honorably withing the context of healthy competition?

These questions have the most serious implications for the future of our economy.