Romney Campaign Press Release - What Obama "Achieved": Higher Debt, Medicare Cuts, And Tax Hikes

"After four years of economic policies that have disappointed the middle class, President Obama has decided to campaign on how he 'achieved' cutting $700 billion from Medicare. With crushing new debt and looming tax hikes on families and job creators, it's clear Americans can't afford any more of President Obama's achievements. Mitt Romney will deliver a new direction that cuts spending, keeps taxes low for middle-class families, and saves Medicare for future generations." —Andrea Saul, Romney Campaign Spokesperson

This Weekend, Obama Deputy Campaign Manager Stephanie Cutter Called President Obama's $700 Billion In Medicare Cuts An Achievement:

Yesterday, A Top Obama Campaign Adviser Lauded "The $700 Billion Cuts In Medicare That The President Achieved" Through Obamacare. CUTTER: "You know I heard Mitt Romney deride the $700 billion cuts in Medicare that the president achieved through health care reform." (CBS's "Face The Nation," 8/12/12)

According To The Nonpartisan Congressional Budget Office, Obamacare Cuts $716 Billion From Medicare. (Congressional Budget Office, Letter To Speaker John Boehner, 7/24/12)

• The Miami Herald Headline: "Obama's $700 Billion Medicare-Cut Problem" (Marc Caputo, "Obama's $700 Billion Medicare-Cut Problem," The Miami Herald, 8/12/12)

"Medicare Actuaries And Trustees Say Medicare's Hospital Insurance Trust Fund Will Be Exhausted In 2024 Under Current Law." (Robert Pear, "Romney Medicare Plan Draws A Stark Contrast," The New York Times, 5/15/12)

Factcheck.Org, On Medicare Under President Obama: "The Promise That 'Benefits Will Remain The Same' Is Just As Fictional As The Town Of Mayberry..." "Currently, about 1 in every 4 Medicare beneficiary is enrolled in a Medicare Advantage plan. For many of them, the words in this ad ring hollow, and the promise that 'benefits will remain the same' is just as fictional as the town of Mayberry was when Griffith played the local sheriff." (Brooks Jackson, "Mayberry Misleads On Medicare," FactCheck.org, 7/31/10)

What Else Has President Obama "Achieved"? Over $5 Trillion In New Debt And Four Straight Trillion-Dollar Deficits:

Under President Obama, The National Debt Has Increased By Over $5.2 Trillion — Approximately $16,000 In New Debt For Every American. (U.S. Department Of The Treasury, Accessed 8/11/12)

"It's The Most Rapid Increase In The Debt Under Any U.S. President." "The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president." (Mark Knoller, "National Debt Has Increased $4 Trillion Under Obama," CBS News, 8/22/11)

Under President Obama, America Is Facing Its Fourth Consecutive Year Of Trillion-Dollar Budget Deficits. "The latest budget figures from the White House predict this year's federal budget deficit will end up at $1.2 trillion. That would make the fourth consecutive year of trillion dollar-plus deficits during President Obama's administration." (Andrew Taylor, "Administration Projects $1.2T 2012 Budget Deficit," The Associated Press, 7/27/12)

And In His Second Term, President Obama Is Hoping To Achieve Job-Destroying Tax Hikes On Small Businesses:

President Obama's Tax Hikes Would Subject 2.1 Million Business Owners To Higher Taxes And Would Jeopardize 710,000 Jobs. "Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations. The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," The Washington Post, 7/17/12)

President Obama's Tax Plan "Would Hurt Small-Business Job Creators In Particular." "New research, released today by the National Federation of Independent Business, shows that allowing tax relief on the top individual rates to expire will hurt job creation and the economy. The report, published by top accounting firm Ernst & Young, shows raising top individual rates would hurt small-business job creators in particular." (NFIB, Press Release, 7/17/12)

President Obama's Tax Plan Will Increase Taxes On Small Businesses To As High As 41%. "But Mr. Obama is demanding tax increases, not tax cuts, and large increases at that. If the Bush tax rates expire as scheduled on December 31, rates on the top two income brackets will jump to 39.6% from 35%, and 36% from 33%. Add the scheduled return of income phaseouts for exemptions and deductions, and the rates go up another two-percentage points—to at least 41% and 35%." (Editorial, "Off The Tax Cliff He Goes," The Wall Street Journal, 7/9/12)

Obamacare Contains "The Largest Tax Increase Since 1993." "Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act." (Editorial, "Taxes Upon Taxes Upon...," The Wall Street Journal, 7/11/11)