Mitt Romney released a misleading chart about how he’d tackle important issues in his first 100 days as president. But the chart completely distorts the President’s record and ignores key facts about his own proposals. The only thing the chart conveys well is that there is, in fact, a clear difference between what President Obama has done and what Romney would do as president.
Here are the key ways President Obama and Romney differ on important issues that are crucial to our economic future:
Energy jobs and production
President Obama: As part of his all-of-the-above energy approach, the Obama administration committed to “take every step possible to expedite” the southern portion of the Keystone XL pipeline. His historic investments in clean energy have created or saved 224,500 energy jobs through the end of 2010. Under President Obama, there are thousands more people working in oil and gas pipeline construction, dependence on foreign oil is at a 16-year low, domestic production of oil is at a 14-year high, production of natural gas is at an all-time high, and electricity production from renewable sources like wind and solar is doubling.
Mitt Romney: Romney only supports energy that would profit his special interest allies like Big Oil. He would keep $4 billion in taxpayer-funded subsidies for oil companies, but opposes incentives for clean energy, which could kill 37,000 jobs in the wind industry alone.
President Obama: Obamacare accounts for the largest health care tax cut for the middle class in history, saving a typical middle-class family that doesn’t get insurance at work 60 percent on health insurance. The law has already reduced total health care spending and will reduce the deficit by more than $100 billion in the first 10 years.
Mitt Romney: Romney would repeal Obamacare, even though it was patterned after his own Massachusetts health care law. Such a repeal would jeopardize quality health care for millions of Americans, including seniors, children, women, and people with pre-existing conditions.
President Obama: In his first three years, the President approved fewer regulations than President Bush did in his first three years, and ordered federal agencies to cut red tape, which resulted in more than 500 regulatory reforms that will save businesses $10 billion in the next five years.
Mitt Romney: Romney would gut important safety regulations—his campaign even said they would be willing to drill “wherever it can be done safely” without naming exceptions for national parks or sensitive environmental areas.
President Obama: President Obama has a plan to reduce the deficit by more than $4 trillion over the next decade, which includes $2 trillion in spending cuts signed into law last year.
Mitt Romney: In Massachusetts, Gov. Romney increased state spending by 22 percent and left behind a billion-dollar deficit. Now, he is pushing tax cuts for the wealthy that would explode the deficit by as much as $5 trillion.
President Obama: The President passed and extended the payroll tax cut for middle-class families, providing nearly 160 million workers with tax relief in 2011 and 2012. Under President Obama, federal taxes on middle-class Americans are near historic lows. He also proposed eliminating tax breaks for Big Oil and the Bush tax cuts for the top 2 percent of income-earners. President Obama has also proposed corporate tax reform that would lower the top rate to 28 percent and even lower for manufacturers, while providing incentives to encourage companies to bring jobs back from overseas.
Mitt Romney: Under Romney, millionaires and billionaires would receive extra tax cuts on top of the Bush tax cuts, costing up to an additional $5 trillion—and he’d have to slash middle class investments if he were to pay for them.
President Obama: The President has repeatedly pressed China on its undervalued currency, and since 2010, the Chinese Yuan has begun to rise against the dollar. Since he’s taken office, the U.S. has “brought trade cases against China at nearly twice the rate” as the Bush administration.
Mitt Romney: When President Obama imposed tariffs on Chinese tires to protect U.S. manufacturing from unfair Chinese trade practices, Romney said his actions were “decidedly bad for the nation and our workers,” calling it “protectionism.”