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Fact Check: Slips in vice presidential debate

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To be sure, there were notable failed investments, such as $528 million to the politically connected and now-bankrupt solar power company Solyndra. But Ryan's claim made it sound like every penny went down the drain.

More broadly, economists are nearly universal in saying President Barack Obama's $800 billion-plus stimulus passed in early 2009 helped create both public-sector and private-sector jobs, even if they fell short of what sponsors had hoped. Douglas Elmendorf, director of the nonpartisan Congressional Budget Office, estimated the stimulus saved or created more than 3 million jobs.

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BIDEN: "We went out and rescued General Motors."

THE FACTS: Actually, the auto bailout of General Motors and Chrysler began under President George W. Bush. The Obama administration continued and expanded it.

___ RYAN: "And then they put this new Obamacare board in charge of cutting Medicare each and every year in ways that will lead to denied care for current seniors. This board, by the way, it's 15 people, the president's supposed to appoint them next year. And not one of them even has to have medical training."

THE FACTS: Ryan is referring to the Independent Payment Advisory Board, created under President Barack Obama's health care overhaul law. It has the power to force cuts in Medicare payments to service providers if costs rise above certain levels and Congress fails to act. But it doesn't look like the board will be cutting Medicare "each and every year," as Ryan asserts. Medicare costs are currently rising modestly and the government's own experts project the board's intervention will not be needed until 2018 and 2019 at the earliest — after Obama leaves office if re-elected to a second term.

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BIDEN, when asked who would pay more taxes in Obama's second term: "People making a million dollars or more."

THE FACTS: Obama's proposed tax increase reaches farther down the income ladder than millionaires. He wants to roll back Bush-era tax cuts for individuals making more than $200,000 and couples making more than $250,000.

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RYAN: "We cannot allow Iran to gain a nuclear weapons capability. Now, let's take a look at where we've gone — come from. When Barack Obama was elected, they had enough fissile material — nuclear material — to make one bomb. Now they have enough for five. They're racing toward a nuclear weapon. They're four years closer toward a nuclear weapons capability."

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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