Second Presidential Debate Fact-Checked: Libya, Auto Bailout

Obama, Romney clash on president's reference to Benghazi attack as "acts of terror."
3:00 | 10/16/12

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Transcript for Second Presidential Debate Fact-Checked: Libya, Auto Bailout
ABC's John Carl in our Washington bureau is doing the is Manning the fact check desk tonight John. Biggest whopper is an evening. -- and we've got quite a few to go through first of all let's start with that big when you guys have been talking about. The question of what the president said in the Rose Garden about the attack -- -- here was the critical exchange. The day after the attack governor. I stood in the Rose Garden. And I told the American people in the world. That we're gonna find out exactly what happened. But this was an act of terror. By. Want to make sure we get that for the record because it took the president fourteen days before he called the attack and -- -- An act of terror get the transfer it if he didn't -- in fact -- OK so you've heard that Candy Crowley clearly sided with the president on this one and the president did use the words acts of terror. But he wasn't -- -- talking about the attack in Libya. That what he said in his statement was quote. No acts of terrible ever shake the resolve this great nation altering that character or clips -- -- the light of the values that we stand for. And then he went on to talk about what happened. In in Libya so clearly he was referring to it. But for the next fourteen days the president never came out and actually said that was a terrorist attack. So why would say mostly true on the president's side not entirely factual -- The next big one was on the question of the auto bailout. Here's the exchange. I think that that the president said which I want to make sure that we understand he he said that I -- we should take Detroit bankrupt. At at and that's right my plan was to have the company go through bankruptcy like 7-Eleven did it may season and that -- airlines and come out stronger. Aunt and I know he keeps saying he wanted to take you -- bankrupt while the president took Detroit bankrupt you took General Motors bankrupt. You took -- -- bankrupt so when you say that I wanted to take the auto industry bankrupt. You actually did. And and I think it's important to know that that that was a process that was necessary to get those companies back on their feet. So they could start hiring more people that was precisely what I recommended and ultimately what happened. OK so what's the story there that is half true. It is true on one -- -- ultimately General Motors and Chrysler went through a managed bankruptcy under the direction the president's plan. But they did so with eighty billion dollars in federal money that was the bailout part of the head of the auto bailout. And it's something that Romney opposed so wasn't precisely what Romney. Advocated in fact Romney said that the money should come from the private sector and most people most of the analysts auto industry -- analysts. Said that no such funding was available so that's a half true yes there was bankruptcy but certainly not precisely the way. Mitt Romney suggested. Next up there was that hot exchange you just play we don't need to play it again about the oil and gas drilling so here -- the facts on that Dan. The it is true -- -- oil and gas permits and leases are down significantly on public lands. Under President Obama but it's not 50%. We look to the actual numbers I know you're taking notes on this -- Permits are down 37%. Under President Obama. Leases are down 42% again not quite 50% so that is not quite factual. But largely. In the right direction. Finally the the beyond. That the force one we have here. Is on the issue of the deficits and this is what we've heard a lot from Mitt Romney take a -- We have we that we have a president talking about someone's plan it in a way that's completely. Foreign to what my real plan is. And then we have his own record which is we have four consecutive years where he said when he was running for office he would cut the deficit in half. Instead he's double that we've gone from ten trillion dollars of national debt to sixteen trillion dollars a national debt. OK so we've heard this a lot for Mitt Romney when he says that the president doubled the deficit. That's just false. The deficit when he came into office 2009. Was one point two trillion dollars now the president did not. Do what he promised which has cut that in half. But for the next three years we've had trillion dollar deficits -- the words the deficit has been the same roughly the same certainly not doubled -- -- not cut -- half of the assertion was cut perhaps as false. Now one I cannot give you a ruling on yet but I can tell you what's behind it is this question of whether or not. The president -- -- investments through his pension in China and even the Cayman Islands. I found out of called the Romney campaign -- what are you basing this sound. They're basing it on the president's its pension from his time in the Illinois State Legislature. Is a -- that's worth between fifty and a 100000 dollars. And the Romney campaign says looking at the filings of that pension you see it. Money that is invested in companies that operate in China and ink and one investment fund which has an office operating out of the Cayman Islands. I have not had a chance stand yet to go down to the Cayman Islands. To see if that was exactly correct but Dan we're gonna work on doing that I hope. I -- soon. Playing this it was advantages though is Jon Karl we appreciated Manning the fact -- that death. Fact check desk not a hard thing to -- -- -- it next guest tonight we appreciate it.

This transcript has been automatically generated and may not be 100% accurate.

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