McCain Campaign Press Release - Deconstructing Obama: Barack Obama's Rhetoric Vs. His Record

ARLINGTON, VA -- At today's speech in Green Bay, WI, Barack Obama offered a speech long on rhetoric but out of step with the reality of his record. See below for a deconstruction of Barack Obama's speech:

DECONSTRUCTING #1: Barack Obama Decried The Same Special Interests That Have Given Him More Money In Four Years Than Any Member Of Congress In The Past Two Decades Save For One

Barack Obama: "We're here because for too long, the doors of Washington have been thrown open to an army of lobbyists and special interests who've turned our government into a game only they can afford to play -- who have shredded consumer protections, fought against common-sense regulations and rules of the road, and distorted our economy so that it works for them instead of you." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

In Just Four Years, Barack Obama Has Received More Money From Fannie Mae And Freddie Mac Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org , 9/11/08)

DECONSTRUCTING #2: Barack Obama Decried The Same Corporate Tax Breaks That He Has Voted For Time And Time Again

Barack Obama: "We are here because an ethic of irresponsibility has swept through our government, leaving politicians with the belief that they can waste billions and billions of your money on no-bid contracts for friends and contributors, slip pork projects into bills during the dead of night, and spend billions on corporate tax breaks we can't afford and old programs that we don't need." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

Barack Obama Voted For The 2005 Energy Bill. (H.R. 6, CQ Vote #152: Motion Agreed To 92-4: R 53-1; D 38-3; I 1-0, 6/23/05, Obama Voted Yea; H.R. 6, CQ Vote #158: Passed 85-12: R 49-5; D 35-7; I 1-0, 6/28/05, Obama Voted Yea; H.R. 6, CQ Vote #213: Adopted 74-26: R 49-6; D 25-19; I 0-1, 7/29/05, Obama Voted Yea)

The 2005 Energy Bill Included $2.8 Billion In Subsidies For Oil And Natural Gas Production. "The conference agreement provides for $14.6 billion in tax breaks and credits between 2005 and 2015, including: -- $2.8 billion for fossil fuel production..." (Toni Johnson, "CQ Bill Analysis: HR 6," Congressional Quarterly's "CQ Bill Analysis," www.cq.com , Accessed 7/14/08)

The Wall Street Journal: Despite Barack Obama Decrying Corporate Lobbyists, "The Farm Bill Is The Ultimate Lobbyist Triumph." "Which brings us to Mr. Obama, who says he supported the bill though he wasn't around to vote for it. One of the Illinois Senator's major campaign themes is that he has no truck with corporate lobbyists, but the farm bill is the ultimate lobbyist triumph. Every special interest gets massaged." (Editorial, "Change You Can't Believe In," The Wall Street Journal, 5/22/08)

DECONSTRUCTING #3: Barack Obama Decried John McCain For Not Pushing Reforms Even Though "Obama Was Notably Silent" When John McCain Was Pushing For Reform

Barack Obama: "When it comes to regulatory reform, Senator McCain has fought time and time again against the common-sense rules of the road that could've prevented this crisis." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

The Washington Post: In 2006, John McCain Pushed For Fannie And Freddie Regulation While "Obama Was Notably Silent." "In 2006, he pushed for stronger regulation of Fannie Mae and Freddie Mac -- while Mr. Obama was notably silent. 'If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole,' Mr. McCain warned at the time." (Editorial, "'Always For Less Regulation'?" The Washington Post, 9/19/08)

John McCain Called For Increased Regulation Of Fannie Mae And Freddie Mac. "In 2006, he called for tighter regulation of Fannie Mae and Freddie Mac, the two federally chartered, privately run mortgage giants that the government now has taken over." (Steve Thomma, "Out Of Bounds! Obama Misstates McCain's Position On Regulation," McClatchy Newspapers, 9/20/08)

In Just Four Years, Barack Obama Has Received More Money From Fannie Mae And Freddie Mac Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org , 9/11/08)

DECONSTRUCTING #4: Barack Obama Decried The Very Same Bill That His Running-mate Voted For, His Advisers Pushed, His Major Republican Backer Co-Authored And President Clinton Signed

Barack Obama: "His economic plan was written by Phil Gramm, the architect in the US Senate of the de-regulatory steps that helped cause this mess." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

The Washington Post: Barack Obama Attacks John McCain On Legislation That Was Supported By Members Of His Economic Team. "One element of the Obama campaign's brief against Mr. McCain is that he supported repeal of the law separating commercial banks from investment banks. ... Would it be churlish to point out that another author of the Gramm-Leach-Bliley law is former congressman Jim Leach, a founder of Republicans for Obama? Or that Obama advisers Lawrence H. Summers and Robert E. Rubin supported the repeal -- which was signed by President Bill Clinton?" (Editorial, "'Always For Less Regulation'?" The Washington Post, 9/19/08)

Joe Biden Voted For The Gramm-Leach-Bliley Financial Modernization Act Of 1999. (S. 900, CQ Vote #354: Adopted 90-8: R 52-1; D 38-7; I 1-0, 11/4/99, Biden Voted Yea)

President Clinton: Former Secretary Bob Rubin "Worked Very Hard On This." CLINTON: "But I do want to thank all the members here and all those who aren't here and I'd like to thank two New Yorkers who aren't here who have been mentioned -- former Secretary of the Treasury Bob Rubin, who worked very hard on this, and former chairman, Senator Al D'Amato, who talked to me about this often." (President Clinton, Remarks, Washington, D.C., 11/12/99)

Obama Adviser Larry Summers Was Involved In Negotiating The Gramm-Leach-Bliley Act, And Called It A "Major Step Forward Toward The 21st Century." "Mr. Summers, the Obama adviser, was among those who negotiated the [1999 Gramm-Leach-Bliley] measure on behalf of the Clinton administration, and he praised it as a 'major step forward toward the 21st Century.'" (Michael M. Phillips, Elizabeth Holmes and Amy Chozick, "Candidates Call Upon Big Names For Advice," The Wall Street Journal, 9/18/08)

Then-Secretary Summers: "...Gene Sperling And Sarah Rosen And Their Colleagues At The National Economic Council For Everything That They Have Done In Bringing Us To This Point." (Secretary Summers, Remarks, Washington, D.C., 11/12/99)

Former Rep. Jim Leach (R-IA) Was The Co-Author Of The Gramm-Leach-Bliley Act, Which Repealed The Glass-Steagall Act And Allowed Competition Between Commercial And Investment Banks And Insurance Companies. (S. 900, Signed 11/12/99)

President Clinton Signed The Gramm-Leach-Bliley Act Into Law On November 12, 1999 As Public Law No. 106-102. (P.L. No. 106-102)

DECONSTRUCTING #5: Barack Obama Decried Fannie Mae And Freddie Mac (Or As His Prepared Remarks Said "Fannie Mac") Lobbyists Though He Has His Own Connections

Barack Obama: "He's put seven of the biggest corporate lobbyists in charge of his campaign lobbyists for the insurance industry and the oil industry; for foreign governments and Freddie and Fannie Mac, who paid his campaign manager nearly $2 million to defend them against stricter regulations. I guess they got their money's worth." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

In Just Four Years, Barack Obama Has Received More Money From Fannie Mae And Freddie Mac Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org , 9/11/08)

The Washington Post: In 2006, John McCain Pushed For Fannie And Freddie Regulation While "Obama Was Notably Silent." "In 2006, he pushed for stronger regulation of Fannie Mae and Freddie Mac -- while Mr. Obama was notably silent. 'If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole,' Mr. McCain warned at the time." (Editorial, "'Always For Less Regulation'?" The Washington Post, 9/19/08)

The Washington Post: "Two Members Of Mr. Obama's Political Circle, James A. Johnson And Franklin D. Raines, Are Former Chief Executives Of Fannie Mae." (Editorial, "Tough Decision Coming," The Washington Post, 8/28/08)

Jim Johnson Is The Former CEO Of Fannie Mae. "There is no public policy reason to exempt them. It is not fair.' Inside Fannie Mae's sprawling Wisconsin Avenue headquarters, Lightfoot's proposal set off alarms. A team of executives led by chief executive Jim Johnson and Vice Chairman Frank Raines gathered around the firm's 34-foot-long boardroom table to decide how to respond." (David A. Vise, "Fannie Mae Lobbies Hard To Protect Its Tax Break," The Washington Post, 1/16/95)

The Obama Campaign Has Solicited Franklin Raines, Who "Stepped Down As Fannie Mae's Chief Executive Under The Shadow Of A $6.3 Billion Accounting Scandal," For "Advice On Mortgage And Housing Policy." (Anita Huslin, "On The Outside Now, Watching Fannie Falter," The Washington Post, 7/16/08)

From 2002 Through 2005, Obama Economic Adviser William Daley Was A Registered Lobbyist For Fannie Mae. (U.S. Senate Office Of Public Records Website, soprweb.senate.gov , Accessed 7/27/08)

DECONSTRUCTING #6: Barack Obama Decried The Very Same Earmark System That He Has Taken Advantage Of To The Tune Of Nearly $1 Billion

Barack Obama: "The truth is, our earmark system in Washington is fraught with abuse. It badly needs reform -- which is why I didn't request a single earmark last year, why I've released all my previous requests for the public to see, and why I've pledged to slash earmarks by more than half when I am President." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

During His Time In The U.S. Senate, Barack Obama Requested More Than 300 Earmarks Totaling Nearly $1 Billion. (Obama Senate Website, 9/6/08)

Barack Obama Has Never Voted Against A Spending Bill During His Time In The U.S. Senate, With The Exception Of A Supplemental Spending Bill To Fund The Troops In Iraq And Afghanistan. (Library Of Congress Website, "Status Of Appropriations Legislation For Fiscal Year 2009," www.thomas.gov , Accessed 7/29/08; Library Of Congress Website, "Status Of Appropriations Legislation For Fiscal Year 2008," www.thomas.gov , Accessed 7/29/08; Library Of Congress Website, "Status Of Appropriations Legislation For Fiscal Year 2007," www.thomas.gov , Accessed 7/29/08; Library Of Congress Website, "Status Of Appropriations Legislation For Fiscal Year 2006," www.thomas.gov , Accessed 7/29/08)

DECONSTRUCTING #7: Barack Obama Decried The Very Same Lobbyists In Illinois Who Funded His Campaigns In Illinois

Barack Obama: "I've spent my career taking on lobbyists and their money, and I've won. When I was a state Senator in Illinois, if you wanted a favor, there was actually a law that let you give campaign cash to politicians for their own personal use. In the State House, they called it business-as-usual. I called it legalized bribery, and while it didn't make me the most popular guy in Springfield, I put an end to it. I brought Democrats and Republicans together, and we passed the first ethics reform in twenty-five years." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

Barack Obama's Senatorial Campaign Committee Has Accepted $128,000 From Lobbyists And $1.3 Million From PACs. "Obama's US Senate campaign committee, starting with his successful run in 2004, has collected $128,000 from lobbyists and $1.3 million from PACs, according to the Center for Responsive Politics, a nonprofit organization that tracks money in politics." (Scott Helman, "PACs And Lobbyists Aided Obama's Rise - Data Contrast With His Theme," The Boston Globe, 8/9/07)

"In Obama's Eight Years In The Illinois Senate, From 1996 To 2004, Almost Two-Thirds Of The Money He Raised For His Campaigns - $296,000 Of $461,000 - Came From PACs, Corporate Contributions, Or Unions, According To Illinois Board Of Elections Records." (Scott Helman, "PACs And Lobbyists Aided Obama's Rise - Data Contrast With His Theme," The Boston Globe, 8/9/07)

• Barack Obama Raised At Least $24,850 For His Illinois State Senate Campaigns From State Lobbyists. (Illinois State Board Of Elections Website, www.elections.state.il.us , Accessed 2/19/08)

DECONSTRUCTING #8: Barack Obama Claims To Have Taken On Jack Abramoff And His Own Party When It Was John McCain Who Took On Abramoff And The 2007 Ethics Bill Was "Hardly A Test Of Party Loyalty"

Barack Obama: "When I got to Washington, Jack Abramoff and his lobbyist pals had engaged in some of the worst corruption since Watergate. I led the fight for reform in my party, and let me tell you -- not everyone in my party was too happy about it." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

John McCain Led The Congressional Investigation Into Jack Abramoff. "In 2005, McCain led the Congressional investigation into the behavior of the lobbyist Jack Abramoff. The investigation was exceedingly unpleasant for Republicans, because it exposed shocking misbehavior by important conservative activists." (David Brooks, Op-Ed, "The Real McCain," The New York Times, 2/26/08)

Joining 82 Other Senators, Barack Obama Voted For The 2007 Lobbying And Ethics Reform Legislation. "Reid, D-Nev., motion to concur in the House amendment to the bill that would overhaul congressional lobbying and ethics rules for members and their staffs and require the disclosure of 'bundled' campaign contributions that exceed $15,000 in a six-month period. Former senators would have to wait two years before becoming lobbyists." (S. 1, CQ Vote #294: Motion Agreed To 83-14: R 34-14; D 47-0; I 2-0, 8/2/07, Obama Voted Yea)

FactCheck.org: Ethics Bill "Hardly A Test Of Party Loyalty." "Worth noting, also, is that Obama gave his supposed collaboration with McCain as an example of how he had worked 'against party loyalty ... for the good of America,' in the words used by Warren in his question. In fact, the measure that became law was sponsored by Senate Democratic leader Harry Reid and a bipartisan list of 16 others. ... But in the end the bill was hardly a test of party loyalty." ("Saddleback Bloggers," FactCheck.org, 8/18/08)

The Washington Post's Richard Cohen: "There Is Scant Evidence The Illinois Senator Takes Positions That Challenge His Base Or Otherwise Threaten Him Politically." "Obama might have a similar bottom line, core principles for which, in some sense, he is willing to die. If so, we don't know what they are. Nothing so far in his life approaches McCain's decision to refuse repatriation as a POW so as to deny his jailors a propaganda coup. In fact, there is scant evidence the Illinois senator takes positions that challenge his base or otherwise threaten him politically. That's why his reversal on campaign financing and his transparently false justification of it matter more than similar acts by McCain." (Richard Cohen, Op-Ed, "McCain's Core Advantage," The Washington Post, 6/24/08)

DECONSTRUCTING #9: Barack Obama Decries Bridges To Nowhere But Forgets That He Voted For It And Against Defunding It To Rebuild A Bridge In New Orleans

Barack Obama: "I also joined with one of the most conservative Republicans in Congress to end the abuse that allowed no-bid contracts to waste taxpayer dollars instead of using them to rebuild the Gulf Coast after Katrina." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

NOTE: Barack Obama Veered Off-Script And Brought Up Rebuilding Bridges In New Orleans Instead Of Building Bridges To Nowhere.

In 2005, Barack Obama Voted For The Conference Report For The Highway Reauthorization Bill. "Adoption of the conference report on the bill that would bring the total authorization for federal-aid highway, mass transit, safety and research programs, including fiscal 2004 funding, to $286.5 billion through 2009." (H.R. 3, CQ Vote #220: Adopted 91-4: R 48-4; D 42-0; I 1-0, 7/29/05, Obama Voted Yea)

The Highway Bill Included The $223 Million Bridge To Ketchikan, AK. "Lawmakers packed $24 billion in special projects into the transportation bill that finally passed Congress yesterday, including $5.9 million for a Vermont snowmobile trail and $3 million for a documentary about Alaska infrastructure. ... One of the bill's biggest winners is Young's home state. It is awarded $941 million for 119 special projects, according to an analysis by the government watchdog group Taxpayers for Common Sense. The group found that Young helped to secure $231 million for a bridge in Anchorage to be named Don Young's Way; $223 million for a bridge to Ketchikan; and $15 million for a Juneau access road, dubbed the Black Ice Highway by group analyst Erich Zimmermann because that's all you'll see in the winter if this project is built.'" (Shailagh Murray, "After 2-Year Wait, Passage Comes Easily," The Washi ngton Post, 7/30/05)

• In 2005, Barack Obama Voted For The Senate Version Of The Highway Reauthorization Bill. "Passage of the bill that would bring the total authorization for federal-aid highway, mass transit, safety and research programs, including fiscal 2004 funds, to $295 billion through 2009. The bill includes $234 billion for highway programs and $54 billion for public transportation programs. It would increase the rate of return to states on their Highway Trust Fund contributions to 92 percent by 2009. It also would direct the Transportation secretary to notify state and local governments that receive federal funds of a new law related to minority-owned small businesses that compete for federal contracts such as federal highway projects." (H.R. 3, CQ Vote #125: Passed 89-11: R 46-9; D 42-2; I 1-0, 5/17/05, Obama Voted Yea)

Barack Obama Voted Against An Amendment That Would Transfer $125 Million Of The "Bridge To Nowhere" Earmark Funds To Rebuilding A Bridge In New Orleans In The Fiscal 2006 Transportation Appropriations Bill. "Coburn, R-Okla., amendment that would transfer $125 million in funding from the Ketchikan-Gravina and Knik Arm bridge projects in Alaska to the reconstruction of the Twin Spans Bridge connecting New Orleans and Slidell, La. It would place remaining Alaska bridge funds into a general highway fund for Alaska." (H.R. 3058, CQ Vote #262: Rejected 15-82: R 11-43; D 4-38; I 0-1, 10/20/05, Obama Voted Nay)

DECONSTRUCTING #10: Barack Obama Copies John McCain's Anti-Earmark Pledge

Barack Obama: "And we will put every corporate tax break and every pork-barrel project online for every American to see. You will know who asked for them and you can cast your vote accordingly." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

John McCain Said He Will End Earmark Requests And You "Will Know Their Names, And I Will Make Them Famous." MCCAIN: "Tax cuts for America's hard-working families; strong support for small businesses, which are the backbone of our economy. And an end pork barrel spending in Washington, an end to the earmark, pork- barrel spending in Washington. My friends, I will make them famous. I want to promise you, I'll take an ink pen, and I will veto every pork barrel, earmark spending bill that comes across my desk. I will know their names, and I will make them famous." (CNN's "Newsroom," 9/19/08)

DECONSTRUCTING #11: Barack Obama Copies John McCain's Government Efficiency Pledge

Barack Obama: "As President, I will go through the entire federal budget, page by page, line by line, and I will eliminate the programs that don't work and aren't needed. As for the programs we do need, I will make them work better and cost less. I will create a High-Performance Team that evaluates every agency and every office based on how well they're serving the American taxpayer." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

John McCain Said He Will "Order A Thorough Review Of The Budgets Of Every Federal Program, Department, And Agency." MCCAIN: "To control spending, I will also order a thorough review of the budgets of every federal program, department, and agency, and I will post the results of these reviews on the Internet for every American to see. While that review is underway, we will institute a one-year pause in discretionary spending increases with the necessary exemption of military spending and veterans benefits." (John McCain, Remarks At NFIB And eBay 2008 National Small Business Summit, Washington, D.C., 6/10/08)

DECONSTRUCTING #12: Barack Obama Copies John McCain's Proposal To Create A Standing Financial Market Advisory Group

Barack Obama: "Sixth, we must establish a process that identifies systemic risks to the financial system like the crisis that has overtaken our economy. We need a standing financial market advisory group to meet regularly and provide advice to the President, Congress, and regulators on the state of our financial markets and the risks they face. It's time to anticipate risks before they erupt into a full-blown crisis." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

John McCain Proposed Creating The Mortgage And Financial Institutions Trust Which Would "Identify Institutions That Are Weak And Take Remedies To Strengthen Them Before They Become Insolvent." MCCAIN: "We cannot wait any longer for more failures in our financial system. Structures like the resolution trust corporation that dealt with the failed savings and loan industry were designed to clean up the system and worked. Today we need a plan that doesn't wait until the system fails. I am calling for the creation of the mortgage and financial institutions trust -- the MFI. The priorities of this trust will be to work with the private sector and regulators to identify institutions that are weak and take remedies to strengthen them before they become insolvent. For troubled institutions this will provide an orderly process through which to identify bad loans and eventually sell them. This will get the treasury and other financial regulatory authorities in a proactive position instead of reacting in a crisis mode to one situation after the other. The MFI will enhance investor and market confidence, benefit sound financial institutions, assist troubled institutions and protect our financial system, while minimizing taxpayer exposure. Tomorrow I will be talking in greater detail about the crisis facing our markets and what I will do as President to fix this crisis and get our economy moving again." (John McCain, Remarks, Cedar Rapids, IA, 9/18/08)

DECONSTRUCTING #13: Barack Obama Copies John McCain's Proposal To Bring The Regulatory System Into The "21st Century"

Barack Obama: "These are the principles that should guide the reforms we need to establish a 21st century regulatory system -- a system that recognizes our free market economy has only worked because we have guided the market's invisible hand with a higher principle -- that America prospers when all Americans can prosper." (Barack Obama, Remarks, Green Bay, WI, 9/22/08)

John McCain Said "We Need To Fix The Regulatory System And Bring It Into The 21st Century." MCCAIN: "Well, I don't want to raise taxes on anybody. I think that would be the worst thing. He even said that he, quote, 'Wouldn't raise taxes if the economy was bad.' Well, the economy is bad. But the point is that we need to fix the broken system. We need to have an FDIC that will insure every American's bank deposit; that may need more funds. We need to fix the regulatory system and bring it into the 21st century. Of course we need to have oversight and regulation. And I warned about it. Greed and excess and corruption is beset Wall Street. They've treated it like a casino and they need to be held accountable and stop walking away with these fat-cat packages." (NBC's "Today," 9/16/08)