Statements about Economy
"The tax on job creating businesses is 35 percent in the United States, second worst in the entire world."
Under Gov. Bob McDonnell, more jobs have been lost than created in Southside and Southwest Virginia.
For more than 30 years after World War II, there was a steady reduction in U.S. debt as a percentage of gross domestic product.
The U.S. has "over $62 trillion in unfunded liabilities."
Failure to raise the debt limit does not force a U.S. default on debt payments.
"Right now we are spending at an all-time high, close to 25 percent of our GDP [is] being spent on the federal government. But our revenues are at an almost all-time low of about 15 percent [of GDP]."
"When I took office last year we faced historic budget deficits of $6 billion here in Virginia. And we closed those deficits by cutting spending."
Virginia was named "best managed state, best state for business and best state to raise a child" while I was governor.
Discretionary spending has "increased over 20-some percent in two years if you don’t include the stimulus. If you put in the stimulus, it’s over 80 percent."
Since Corey Stewart became chairman in November 2006, unemployment is up 150% and average home price sales are down $150,000.
The GOP budget plan "would cut nearly a million jobs."
"Put simply, less government spending equals more private sector jobs."
"We’ve now gained private sector jobs 12 months in a row."
The stimulus bill "promised to keep unemployment under 8%."
Under former President George W. Bush’s administration "while the population in that period grew by 10 percent, the number of jobs in the nation grew by 1 percent."
"Overall we currently have $981 million, almost a billion dollars in active development projects right here in the City of Richmond."
"It is estimated that every $100 million spent on construction generates 3,000 new jobs."
The national debt grew an estimated $15 billion last weekend.
Letting the Bush tax cuts expire would raise taxes on small businesses.
Since the Fed was created in 1913, "the U.S. Dollar has lost 98% of its purchasing power."
How to contact us:
We want to hear your suggestions and comments. For tips or comments on our campaign promise database, please e-mail the Obameter. If you are commenting on a specific promise, please include the promise number. For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out. If you send us a comment, we'll assume you don't mind us publishing it unless you tell us otherwise.
Browse the The Truth-O-MeterTM:
Browse The Obameter:
Keep up to date with Politifact National: