Fact Checking The Sunday Shows - October 16, 2011
Republicans spent their Sunday morning TV appearances blaming Democrats for the economy and trying to convince Wall Street protesters to join them in their scapegoating. Contrary to what Herman Cain and Rep. Eric Cantor (R-VA) claimed, the facts show that private firms, not government entities, inflated the subprime mortgage bubble, and Wall Street, not Democrats, turned those loans into an elaborate casino game that left the entire country on the hook for their bad bets.
Similarly, Cantor and Sen. John McCain (R-AZ) were wrong to suggest that Democratic policies on taxes and regulations are hurting the economy, and that Republican proposals will do more to create jobs than President Obama's proposed American Jobs Act.
In addition, Cain claimed that his "9-9-9" tax plan won't hurt the poor and implied that Obama has cut defense spending, Gov. Bobby Jindal (R-LA) blamed the credit downgrade on the president, and Sen. McCain said that Obama never spoke up on behalf of Iranian protesters in 2009. In each case, the facts disagree.
Read our full fact check HERE.