The cynical President

Fact check on Obama's claims

President Obama's claim: "Everything in this bill will be paid for. Everything."

The facts: Obama did not spell out how he would pay for the measures contained in his nearly $450 billion American Jobs Act, but said he would send his proposed specifics in a week to the new panel charged with finding budget savings. White House aides suggested that new deficit spending in the near-term to try to promote job creation would be paid for in the future, but they did not specify what would be cut or what revenues they would use.

Essentially, the jobs plan is an IOU from a president and lawmakers who may not even be in office when the bills come due. Today's Congress cannot bind a later one for future spending. A future Congress could simply reverse it. So there is no guarantee that programs that clearly will increase annual deficits in the near term will be paid for in the long term.

Obama's claim: "Everything in here is the kind of proposal that's been supported by both Democrats and Republicans, including many who sit here tonight."

The facts: His proposed cut in the Social Security payroll tax does seem likely to garner GOP support. But there are a lot of other proposals that already have generated Republican opposition. For instance, Obama makes a pitch anew to end Bush-era tax cuts for the wealthiest Americans, which he has defined as couples earning more than $250,000 a year or individuals earning more than $200,000 a year. Republicans have blocked what they view as new taxes. As recently as last month, House Republicans refused to go along with any deal to raise the government's borrowing authority that included new revenues, or taxes.