Juxtapose the Fiorina layoff rating with this one on a George Will claim:
http://politifact.com/truth-o-meter/statements/2010/sep/14/george-will/george-will-says-tax-cuts-wealthy-cost-less-over-1/
George Will says tax cuts for wealthy cost less over 10 years than stimulus did in one year
Rated "barely true" because:
While they concede
First, we'll look at whether the upper-income tax cuts cost $700 billion over 10 years, as Will said. The president's fiscal year 2011 budget categorizes three tax provisions as being targeted to upper-income Americans: expanding the 28 percent bracket and reinstating the 36 percent and 39.6 percent bracket; reinstating the personal exemption phaseout and limitation on itemized deductions for taxpayers with income over $250,000 (for married couples) and $200,000 (for single taxpayers); and imposing a 20 percent capital gains and dividend tax rate for those above those income thresholds.
According to the president's budget, ending these three tax breaks would reduce the deficit by more than $678 billion over 10 years. So the reverse -- continuing them -- should cost the government about $678 billion over the same time period. While other calculations have included other factors, we think it's reasonable for Will to use this figure from the president's own budget. And while Will is off a bit on the numbers -- saying $700 billion instead of the actual $678 billion -- the difference between the two figures doesn't undermine the comparison he's trying to make. So let's call this part of the statement accurate.
Now, how does the stimulus compare? The updated total cost, as determined by the Congressional Budget Office in August 2010, is $814 billion. (That's up from the initial estimate of $787 billion at the time the bill was passed.)
$814B is more than $678B. Right?
So, why is Will's statement only "barely true"?
Just as the upper-income tax cuts are being charged against the budget over several years, so too is the stimulus, as different funding streams are spent and tax breaks exercised.
In the end:
Ultimately, we feel that Will had a point worth making -- that the 10-year cost of the upper-income tax cuts was lower than the total cost of the stimulus. But he overplayed his hand by suggesting that Obama obligated more in one year than the tax-cut extensions would cost over 10.
Okay, let's look at the relevant part of Will's actual statement:
...add less to the deficit than Obama added with the stimulus in one year
Did Will say it will all be spent in one year? No. Will said it adds to the deficit "in one year." In fact, it could be said to have added to the deficit as soon as congress allocated the funds. It could be said to have happened in one afternoon, in fact.
Politifact concedes the basic underlying point, mischaractertizes Will's assertion* and rates the statement as "barely true" for perhaps leading a non-careful reader to believe something that plainly does not logically flow from the original statement.
Is this "barely true" statement really worse than the "mostly true" statement that "As the CEO of HP, Carly Fiorina laid off 30,000 workers" when, in fact, she created more jobs than were lost?
* Look at the subtle change:
Will:
add less to the deficit than
Politifact's paraphrase:
cost less