Mondale: " . . . the housing unit for senior citizens that the president dedicated in Buffalo was only made possible through a federal assistance program for senior citizens that the president's budget sought to terminate."
The administration did not seek to terminate the program under which the Buffalo project was financed, but it did seek in fiscal 1983 to cut it about in half, compared with the level of funding in 1980.
Mondale: " . . . farmers are having the worst year in American history . . . ," and later, "Net farm income is off 50 percent in the last three years . . . ."
In constant dollars, net farm income, which includes both cash income and the change in farm inventories, in 1983 was less than half of what it was in 1981. Meanwhile, the value of farmers' assets, particularly land, also was declining.
But this year, according to Agriculture Department estimates, farm income is rebounding somewhat. Just on a cash basis -- not counting the change in farm inventories -- 1983 income was up from 1982.
Mondale: " . . . the effect of these economic policies is like a massive grain embargo which has caused farm exports to drop 20 percent. . . . "
The value of agricultural exports fell from $43.3 billion in 1981 to $34.8 billion in 1983, a 19.6 percent decline. However, the Agriculture Department estimates the value will be up again for 1984 to $38 billion. If so, 1984 exports would be 12.2 percent lower than in 1981.
Mondale: "In 1983, as a result of these tax preferences, [Vice President Bush] paid a little over 12 percent, 12.8 percent in taxes. That meant that he paid a lower percent in taxes than the janitor who cleaned up his office or the chauffeur who drives him to work."
A married individual with no dependents filing a joint return, like Bush, would have paid 12.8 percent of his income in personal income taxes only if he had more than about $24,000 in adjusted gross income and did not itemize deductions. If he itemized, as Bush did, he would pay that percentage only at some higher level of AGI, depending on the amount of deductions.
Mondale: "And what did you do right after the election? You went out and tried to cut $20 billion out of Medicare."
Reagan proposed Medicare cuts in the fiscal 1983 budget presented in February 1982, rather than "right after the election."
Mondale: "This economy is starting to run downhill. Housing is off. Last report on new purchases, it's the lowest since 1982. Growth is a little over 3 percent."
With GNP growth, adjusted for inflation, still above 3 percent in the third quarter, as Mondale noted, the economy is not contracting. Housing starts have declined. Mondale aides were not sure to what "new purchases" he was referring. Retail sales fell in July and August as did new orders for some types of manufactured goods. However, in each of these cases the level of purchases is well above 1982 levels.