- The president claimed that "both parties have worked together to reduce the deficit by more than $2.5 trillion." But that's only an estimate of deficit reduction through fiscal year 2022, and it would be lower if the White House used a different starting point.
- Obama touted the growth of 500,000 manufacturing jobs over the past three years, but there has been a net loss of 600,000 manufacturing jobs since he took office. The recent growth also has stalled since July 2012.
- He claimed that "we have doubled the distance our cars will go on a gallon of gas." Actual mileage is improving, but Obama's "doubled" claim refers to a desired miles-per-gallon average for model year 2025.
- Obama said the Affordable Care Act "is helping to slow the growth of health care costs." It may be helping, but the slower growth for health care spending began in 2009, before the law was enacted, and is due at least partly to the down economy.
The president also made an exaggerated claim of bipartisanship. He said that Republican presidential candidate Mitt Romney agreed with him that the minimum wage should be tied to the cost of living. But Romney backed off that view during the campaign.
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