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Hume: Obama camp's 'invalid' portrayal of Romney tax plan

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    Truth behind Mitt Romney's proposals

  • Duration 2:07
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Let's have a little bit about campaign messaging senior political analyst Brit Hume is here with some thoughts about.

But the Obama campaign is saying and what the Romney campaign.

Is not your -- -- Brett.

A favorite talking point of the Obama campaign is it Mitt Romney's economic proposals would simply reinstate the same tax cut and deregulation policies.

That led to the 2008 financial meltdown.

Two things should be said about this -- one is that it is gone unanswered by the Romney camp and the second is that it is utterly invalid.

The tax cuts put in place under President Bush in 2001 and 2003.

Cannot be blamed for the mortgage market collapsed and triggered the Great Recession.

In fact they can be credited with helping the economy out of the recession of 20012002.

And with helping overcome the later economic damage from hurricane Katrina and by the way that expansion and the tax revenues it produced.

Were sufficient to drive down on the federal budget deficit for three years and wrote 2005 to two to 2007.

This despite massive war spending.

As for deregulation President Obama himself has said that former President Bush put more regulations in place that he has in the same time -- It is true that there is one bit of deregulation regularly blamed by liberal economists.

For helping create the speculative bubble that led to the financial crisis and the Great Recession.

That was the lifting of the legal barrier between commercial and an investment banking.

But that barrier was lifted in 1999.

In a bill signed into law by President Bill Clinton.

So if that is the case have as President Obama changed the dynamic in debate number two well it'll be interesting to see whether Mitt Romney is ready with a do if it was with an answer to that charge because so -- the Romney -- really -- not -- -- maybe they're reluctant to defend President Bush thinking that.

You know that you may not be popular in May still be on confidence -- -- But I think the how this issue stands and how well let talking point works and I think it has worked to some extent the Obama team depends on whether Mitt -- ready to respond.

I'm for it thank you.

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