The Associated Press
The vice presidential candidates, Minnesota Gov. Tim Walz and Ohio Sen. JD Vance, on Tuesday engaged in a fast-moving, largely civil debate on a wide range of issues. Here’s a look at some false and misleading claims from the debate.
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Iran has not received $100 billion in unfrozen assets under the Biden-Harris administration
VANCE: “Iran, which launched this attack, has received over $100 billion in unfrozen assets thanks to the Kamala Harris administration. What do they use that money for? They use it to buy weapons that they’re now launching against our allies.”
THE FACTS: The Biden administration agreed last year to unfreeze $6 billion in Iranian assets as part of a deal to free five U.S. citizens being held by Iran. But administration officials say not a dollar of that has yet been given to Iran. It was part of a deal negotiated by the Obama administration, before Biden and Harris took office, that could have allowed Iran to access frozen assets in exchange for accepting limits on its nuclear program.
In 2016, Iran said it had received access to more than $100 billion worth of frozen overseas assets following the implementation of a landmark nuclear deal with world powers. The money had been held in banks in China, India, Japan, South Korea and Turkey since international sanctions were tightened in 2012 over Tehran’s nuclear program. Then-Treasury Secretary Jacob Lew told Congress that only about $50 billion of the frozen assets would actually be accessible by Iran.
Walz overstates the cost of insulin before cap
WALZ: “They were charging $800 before this law went into effect.”
THE FACTS: Walz overstated how much Americans were paying for insulin before a new law capped prices at $35 per month for millions of older Americans on Medicare. A December 2022 study found that people who were on Medicare or enrolled in private insurance paid $452 yearly on average before the new law took effect.
Vance links unaffordable housing to immigrants who have come into the country illegally
VANCE: “You’ve got housing that is totally unaffordable because we brought in millions of illegal immigrants to compete with Americans for scarce homes.”
THE FACTS: Most economists blame a long-term decline in the housing supply for the steady increase in home prices. The number of new homes under construction plunged from an annual pace of 1.4 million in April 2006 to barely above 400,000 in August 2011, and didn’t recover to 2006 levels until 2021.
Vance said at least one prominent economic analysis from the Federal Reserve supports his claims that immigrants are pushing up housing costs, but he didn’t provide details. He was likely citing a May 2024 blog post by Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. Kashkari says immigration’s long-run effect on inflation is “unclear,” but immigrants need a place to live and their arrival has overlapped with higher prices.
There might be upward pressure on home prices in some markets because of immigrants arriving, but most economists say the issue is a …read more
Source:: The Denver Post – Politics
