Obama said "average family income" went down $2,000 under Bush, which isn't correct. An aide said he was really talking only about "working" families and not retired couples. And – math teachers, please note – he meant median (or midpoint) and not really the mean or average. Median family income actually has inched up slightly under Bush.
Obama asked why McCain would "define middle-class as someone making under five million dollars a year"? Actually, McCain meant that comment as a joke, getting a laugh and following up by saying, "But seriously ..."
Obama noted that McCain's health care plan would "tax people's benefits" but didn't say that it also would provide up to a $5,000 tax credit for families.
He said McCain, far from being a maverick who's "broken with his party," has voted to support Bush policies 90 percent of the time. True enough, but by the same measure Obama has voted with fellow Democrats in the Senate 97 percent of the time.
Obama: Now, many of these plans will cost money, which is why I've laid out how I'll pay for every dime – by closing corporate loopholes and tax havens that don't help America grow.
This is misleading. Even by his own campaign's estimates, closing corporate loopholes and tax havens won't pay for all of Obama's new plans.
Obama spokesman Tommy Vietor told FactCheck.org that the Tax Policy Center's analysis "fails to take in account Senator Obama's spending cuts, including ending the Iraq war."
That's true, but Obama's proposed cuts are dwarfed by the Tax Policy Center's projected deficits. Obama's new spending programs might be completely offset by new revenue and spending cuts. But overall spending will still exceed overall revenue, and the nation would face at least 10 more years of annual deficits.