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Fact-checking the first debate

<div class="meta "><span class="caption-text ">OBAMA: &#34;I&#39;ve proposed a specific &#36;4 trillion deficit reduction plan. ... The way we do it is &#36;2.50 for every cut, we ask for &#36;1 in additional revenue.&#34;  THE FACTS: In promising &#36;4 trillion, Obama is already banking more than &#36;2 trillion from legislation enacted along with Republicans last year that cut agency operating budgets and capped them for 10 years. He also claims more than &#36;800 billion in war savings that would occur anyway. And he uses creative bookkeeping to hide spending on Medicare reimbursements to doctors. Take those &#34;cuts&#34; away and Obama&#39;s &#36;2.50&#47;&#36;1 ratio of spending cuts to tax increases shifts significantly more in the direction of tax increases.  Obama&#39;s February budget offered proposals that would cut deficits over the coming decade by &#36;2 trillion instead of &#36;4 trillion. Of that deficit reduction, tax increases accounted for &#36;1.6 trillion. He promises relatively small spending cuts of &#36;597 billion from big federal benefit programs like Medicare and Medicaid. He also proposed higher spending on infrastructure projects.  &#40;AP Photo&#47;David Goldman&#41; (AP Photo&#47; David Goldman)</span></div>
October 4, 2012 8:57:06 AM PDT