Fact check: Nominees' speeches

ST. PAUL -- Here are the facts behind some of the statements made by John McCain in his acceptance speech here Thursday and Barack Obama's speech in Denver from a week ago:

McCain

•Taxes

Quote: "I will keep taxes low and cut them where I can. My opponent will raise them."

Facts: Both McCain and Obama have proposed substantial tax cuts, at the expense of the federal budget deficit. McCain proposes a $4.2 trillion cut over 10 years, according to the nonpartisan Tax Policy Center. Obama proposes $2.9 trillion. It's true that Obama would raise taxes on some high-income taxpayers, while McCain would not.

•Health care

Quote: Obama's plan "will force small businesses to cut jobs, reduce wages, and force families into a government-run health care system where a bureaucrat stands between you and your doctor."

Facts: Obama's plan doesn't require families to enter a public insurance program, although it would make one available. It also offers subsidies for small businesses.

•Russia

Quote: "They invaded a small, democratic neighbor to gain more control over the world's oil supply, intimidate other neighbors, and further their ambitions of reassembling the Russian empire."

Facts: Russia did invade neighboring Georgia over the treatment of South Ossetia, but there is no proof that it was trying to gain control of Georgia's oil pipelines.

Obama

•Taxes

Quote: "I will cut taxes — cut taxes — for 95% of all working families."

Facts: The Tax Policy Center says that when retirees and children are included 81% of Americans would get a tax cut under Obama's plan.

•Spending

Quote: "Many of these plans will cost money, which is why I've laid out how I'll pay for every dime — by closing corporate loopholes and tax havens."

Facts: Brian Riedl of the conservative Heritage Foundation says Obama has proposed nearly $350 billion per year in new spending. The entire corporate tax code raises about $350 billion annually, he says.