By Alexandra Duszak
On Tuesday, the conservative nonprofit Americans for Prosperity released its first ad in a $25 million campaign aimed at defeating President Barack Obama. The spot, called “President Obama: A One-Term Proposition,” will air in nine swing states: Iowa, North Carolina, Colorado, Virginia, Pennsylvania, Ohio, Wisconsin, New Mexico and Florida.

“President Obama pledged to cut the deficit in half,” the new ad states. “But we've gone $5 trillion deeper in debt under his watch. It's time to hold Obama accountable for his promises.”

It closes with a clip of Obama saying, “If I don’t have this done in three years, then there’s going to be a one-term proposition.”

However, Obama’s “one-term proposition” comment actually came in response to specific questions about the Troubled Asset Relief Program (TARP), which was signed into law by President George W. Bush. The program provided struggling banks with money and is widely crediting with stabilizing the financial sector, according to ABC News. Obama did not address the deficit at the time of his TARP comments.

Continue: http://www.iwatchnews.org/2012/08/08/10589/daily-disclosure-americans-prosperity-launches-first-ad-25-million-campaign

But while there is no doubt the U.S. economy continues to struggle, an examination of the context of Obama’s 2009 comments to NBC’s Matt Lauer suggests his “proposition” might not have been as sweeping as Republicans make it out to be.

Obama was responding to specific questions about the Troubled Asset Relief Program and whether its economic benefits would merit the costs, then estimated at $700 billion.

Full article: http://abcnews.go.com/blogs/politics/2012/02/fact-check-obama-and-the-one-term-proposition/