President Obama on Mitt Romney’s “sketchy deal”

9:45 p.m. ET

 “The cost of lowering rates for everybody across the board by 20% along with what he also wants to do in terms of eliminating the Estate Tax, along with what he wants to do in terms of corporate changes in the tax code, it costs about $5 trillion. Governor Romney then also wants to spend $2 trillion on additional military programs, even though the military is not asking for them. That’s $7 trillion. He also wants to continue the Bush tax cuts for the wealthiest Americans. That’s another trillion dollars. That’s $8 trillion.

“Now, what he says is he’s going to make sure that this doesn’t add to the deficit, and he’s going to cut middle class taxes, but when he’s asked how are you going to do it, which deductions, which loopholes are you going to close? He can’t tell you…

“Now, Governor Romney was a very successful investor. If somebody came to you, Governor, with a plan that said $7 or $8 trillion, and we’re going to pay for it but we can’t tell you until maybe after the election how we’re going to do it, you wouldn’t have taken such a sketchy deal. And neither should you, the American people, because the math doesn’t add up … ”

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