FACT CHECK

A look at some of President Barack Obama’s statements at his news conference and how they square with the facts:

THE CLAIM: “In this budget, we have made the tough choices necessary to cut our deficit in half by the end of my first term even under the most pessimistic estimates.”

THE FACTS: Obama’s assertion that he can cut the deficit “even under the most pessimistic estimates” flies in the face of an answer he gave moments later. The Congressional Budget Office forecasts that Obama’s spending plan would leave a deficit of $672 billion by the end of 2013. Explaining the differences between his projections and CBO’s, Obama said his administration projects a higher growth rate.

THE CLAIM: “Our assumptions are perfectly consistent with what blue-chip forecasters out there are saying.”

THE FACTS: The Obama administration’s economic growth projections are more optimistic over the next five years than those of the Blue Chip Consensus, a monthly average of 50 economic forecasts. Its projection is for a deeper contraction this year than foreseen by the administration —- 1.9 percent versus 1.2 percent. Then it forecasts growth of only 2.1 percent next year, instead of 3.2 percent, and less than 3 percent in each of the next three years as opposed to 4 percent or better.

THE CLAIM: Obama repeated his assertion that his housing bailout will help “stabilize the housing market and help responsible homeowners stay in their homes.”

THE FACTS: Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman have said some of the bailout money is bound to go to those who acted irresponsibly. Sheila Bair, head of the Federal Deposit Insurance Corp., said it’s “simply impractical” to examine every delinquent loan to weed them out.

THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit … from them.”

THE FACTS: Obama inherited a huge deficit, much of it due to policies led by Republican President George W. Bush. But Congress, which authorizes spending, was controlled by Democrats in the last two years of Bush’s presidency.