Four times Obama repeated the conclusion of an independent analysis by the nonpartisan Tax Policy Center that those cuts would cost approximately $5 trillion. Romney, in response, claimed “I don’t have a $5 trillion tax cut. I don’t have a tax cut of a scale that you’re talking about.”
Back out on the campaign trail obama never the less repeated the same old rhetoric that Romney was going to give the rich a 5 trillion dollar tax cut, so CNN and FactCheck.org chimed in.
Obama accused Romney of proposing a $5 trillion tax cut. Not true,” FactCheck.org said. Obama accused Romney of proposing a $5 trillion tax cut. Not true. Romney proposes to offset his rate cuts and promises he won’t add to the deficit. http://factcheck.org/2012/10/dubious-denver-debate-declarations/
CNN’s John Berman reached a similar conclusion last night.
“Romney said he would offset that by closing loopholes and reducing reductions,” he said. “So if you take him at his word, our verdict [on Obama's claim] that Mitt Romney would cut taxes on the wealthy by $5 trillion, the verdict is false.”