This report is based on work by our partners at FactCheck.org, a nonpartisan project of the University of Pennsylvania's Annenberg Public Policy Center.
Dueling campaign ads hit the airwaves fresh off of the first presidential debate, and it turns out that both ads distort the facts, according to FactCheck.org.
The Obama campaign uses a clip from the debate and what appears to be a contradicting news report.
Romney clip used in Obama ad: “I’m not in favor of a $5 trillion tax cut. That’s not my plan.”
Andrea Mitchell clip used in Obama ad: “The non-partisan Tax Policy Center concluded that Mitt Romney’s tax plan would cost $4.8 trillion over 10 years.”
“The ad doesn’t include what the newscaster went on to say, which is that what Romney has said that he would close some loopholes in the tax code, and eliminate some tax deductions so that his plan would be revenue neutral,” said Rob Farley, deputy editor at FactCheck.org.
However, the Tax Policy Center said that Romney's math doesn't add up, and it is still unclear how he would achieve his goals without either running up the deficit or raising taxes.
The ad from the Romney campaign takes a shot at Obama for running up debt.
From the Romney ad: “Obama’s four deficits are the four largest in U.S. history. He’s adding almost as much debt as all 43 previous presidents combined.”
“While the debt held by the public has increased about 79 percent under Obama, not all of that is his fault," Farley said. "Budgets run on fiscal years. They begin on October 1st. So when Obama came into office, there was an officially projected deficit of $1.2 trillion even before he took office. So he’s not on the hook for all of that.”
Farley has some advice as the public watches the remaining debates and ads.
“Both of these ads claim to take the factual high ground, and then go on to distort some of the facts," he said. "In our experience as fact checkers, any time a political campaign tells you that they’re giving you the facts, there’s a good chance you’re about to be bamboozled."
For more information on the two ads, click here.