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BIDEN: “We went out and rescued General Motors.”

THE FACTS: Actually, the auto bailout of General Motors and Chrysler began under President George W. Bush. The Obama administration continued and expanded it.

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RYAN: “And then they put this new Obamacare board in charge of cutting Medicare each and every year in ways that will lead to denied care for current seniors. This board, by the way, it’s 15 people, the president’s supposed to appoint them next year. And not one of them even has to have medical training.”

THE FACTS:Ryan is referring to the Independent Payment Advisory Board, created under President Barack Obama’s health care overhaul law. It has the power to force cuts in Medicare payments to service providers if costs rise above certain levels and Congress fails to act. But it doesn’t look like the board will be cutting Medicare “each and every year,” as Ryan asserts. Medicare costs are currently rising modestly and the government’s own experts project the board’s intervention will not be needed until 2018 and 2019 at the earliest — after Obama leaves office if re-elected to a second term.

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BIDEN, when asked who would pay more taxes in Obama’s second term: “People making a million dollars or more.”

THE FACTS: Obama’s proposed tax increase reaches farther down the income ladder than millionaires. He wants to roll back Bush-era tax cuts for individuals making over $200,000 and couples making more than $250,000.

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RYAN: “We cannot allow Iran to gain a nuclear weapons capability. Now, let’s take a look at where we’ve gone — come from. When Barack Obama was elected, they had enough fissile material — nuclear material — to make one bomb. Now they have enough for five. They’re racing toward a nuclear weapon. They’re four years closer toward a nuclear weapons capability.”

THE FACTS:Ryan’s claim is misleading. Iran isn’t believed to have produced any of the highly enriched uranium needed to produce even one nuclear weapon, let alone five. That point isn’t even disputed by Israel, whose Prime Minister Benjamin Netanyahu implored the world at the United Nations last month to create a “red line” at enrichment above 20 percent. Iran would have to enrich uranium at much higher levels to produce a weapon. There is intelligence suggesting that Iran has worked on weapon designs, but not that it has developed a delivery system for any potential nuclear warhead.

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BIDEN: “What we did is, we saved $716 billion and put it back, applied it to Medicare.”

THE FACTS: Contrary to Biden’s assertion, not all the money cut from Medicare is going back into the program in some other way. The administration is cutting $716 billion over 10 years in Medicare payments to providers and using some of the money to improve benefits under the program. But most of the money is being used to expand health care coverage outside of Medicare.

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