Debate Obama - Romney: Economy menu

The first debate between President Barack Obama and his challenger Mitt Romney will focus on the economy. In this area, the Republican candidate for several months trying to attack the record of the Obama administration, without much success. Here are three main criticisms:

Unemployment : Obama had promised he would be at 5.4% at the end of its mandate. "

Mitt Romney regularly refers to a study by the team of economic advisers to Barack Obama from January 2009. As noted by Factcheck.org, the report analyzed the effect on employment of a recovery plan, based on the numbers gave economists at the time, and foresaw 5.4% rate unemployment, while noting that the study included substantial uncertainties in all estimates. In reality, this has never been a promise of Barack Obama. Employment is good, however the main topic of the presidential economic. Mitt Romney has also delivered his last speech before a panel displaying giant letters in the word "JOBS" ("JOBS"). The Republican candidate can focus on statistics: unemployment was at 7.8% in 2009. It is around 8.1% today. Concerned, the real estate crisis of 2007 which resulted in a financial and economic crisis unprecedented since 1929 and also ended the mobility of Americans pushing up the long-term unemployment. Barack Obama himself acknowledged that the United States is not yet out of the woods. 12 million jobs were lost between early 2008 and October 2009, the peak of the crisis, during which unemployment peaked at 10%. He says, however, have avoided the worst, with a recovery plan of nearly $ 800 billion and rescue under conditions of General Motors and Chrysler. The president accused Republicans in Congress have rejected his plan for the use of $ 447 billion which, according to him, created a million jobs. His balance is less negative if read in a dynamic and geographical: Unemployment began to fall in 2011. According to Barack Obama since he took office, 4.6 million jobs were created. In the State of Ohio Key, the rate is 7.2%, against 10.6% in crisis. But the recovery is slowing: only 96,000 jobs were created in August, instead of the expected 125,000.

That offer candidates:

Barack Obama  : the creation of one million jobs in the manufacturing sector by 2016 by encouraging companies to "relocate" their production in the United States including fiscal measures. Doubling of exports to sustain employment. Halving of energy imports by 2020 through the development of gas resources and energy "green". Investments in education programs and vocational training, with the aim of achieving world leadership in terms of tertiary graduates by 2020. Training and recruitment of 100,000 teachers of science subjects. Policy of major infrastructure projects.

Mitt Romney  : creation of 12 million jobs by restart growth through lower taxes, deregulation, the opening of markets and the development of oil and gas resources U.S.. Overhaul of federal training programs for decentralization in the states. Creation of individual training accounts. Increase in quotas of visas for highly skilled foreigners.

Purchasing power: The median income in the United States, instead of being mounted as the president had said, fell $ 5,000 per family. "

The study cited by Mitt Romney of June last, as noted by Factcheck.org. It is based on income per household, not per family, and focuses on a period beginning in December 2007, 13 months before the inauguration of Barack Obama. In fact, according to 2011 figures from the Census Bureau, the median income in the first three years in office Obama has dropped 3,290 euros per family. In addition, the seasonal index of "Path", published in September 2012, states that the income per household is higher today than a year ago. The question of purchasing power is at the heart of debates between the two candidates for the White House. It obviously depends on the issue of employment, but also the price of basic necessities. The pump price has doubled during the term of Barack Obama. Although consumption reparte slowly in 2012, the subprime crisis has had a serious impact on the American standard of living, which is to say Vice President Joe Biden, the "middle class (...) had been devastated past four years. " Mitt Romney's immediate response on Twitter: "I agree with Joe Biden, the middle class has been devastated over the last four years, and this is why we need a change in November." The issue of tax household should also be addressed. Barack Obama has lowered taxes $ 3,600 per year for an average family, says "Le Monde". But Republicans have opposed in Congress to cancel its proposed tax cuts for incomes over $ 250,000, passed  under the administration of George W. Bush.

That offer candidates:

Barack Obama  : Introduction of the "Buffett rule" that wants incomes over a million dollars per year does not discharge a tax rate lower than 30%. Increase in scale for the two tranches over 208,250 dollars. The final rates correspond to rates charged by President George W. Bush (36% and 39.6%).Tax increase on capital income from 15 to 20% for everyone. Reduction of corporate tax from 35% to 28%, even 25% in some industries.

Mitt Romney  : 20% of the six scales of the income tax, the final rates would increase from 10% to 8% for the lowest bracket, and 35% to 28% for incomes in excess of 388,350 dollars. Decline in corporate tax from 35 to 25%, in line with the OECD average. Removing the tax on capital income of less than $ 200,000.

The United States is now on the verge of a catastrophic budget crisis with a federal debt that exceeds 100% of U.S. GDP. "

16,000 billion. This is the amount that will reach the U.S. public debt. Despite the potential of its economy, debt has become a concern. In the summer of 2011, Republicans and Democrats have engaged in a tussle, the Obama administration has asked Congress to raise the legal limit. It is during this period that the Standard and Poor's downgraded the credit rating of the United States. The responsibility of the increase in debt is shared. The Bush administration has signed stimulus of hundreds of billions of dollars to help Wall Street and revive the U.S. economy, and funded two wars (Iraq and Afghanistan) credit. For his part, Obama has maintained a high level of spending during his tenure.

That offer candidates:

Barack Obama  : spending cuts of 4,000 billion accumulated over ten years, of which 2,000 have already was booked. Some 1950 billion would come from tax increases for the rich and the end of tax breaks for businesses, and 850 savings due to the end of the wars in Iraq and Afghanistan.

Mitt Romney  : cap federal budget to 20% of GDP, against 24.4% in 2012. Vote for a "golden rule" in the Constitution. Requirement of a supermajority vote for any tax increases in Congress. Removal of tax loopholes (unspecified) to finance a general decline in taxes. Replacing a staff of two to reduce their number by 10%. Alignment of public sector wages with those of the private sector.