Over at FactCheck.org you can find a list titled Viral Spiral featuring 40 Internet confabulations being passed off as fact today. See: http://factcheck.org/hot-topics/ and judge for yourself. (Should you think I'm picking on the Romney campaign alone, see this site for distortions on both sides of the political aisle.)
The problem with all the lying, and the reason society will crumble if your and my own personal "truths" become the only truths, is that these lies cause us to view each other, our society, and our world through a distorted lens. Worse, we act upon that misinformation to the detriment of ourselves and others. Awash in delusional thinking fueled by untruths an individual may decide to lock and load his weapons and go out and kill those he has come to believe falsely are a threat to himself and others. It is far worse when a nation does likewise. Here in lies the danger and the reason the lie spiral must end. Once we buy into the lies, refuse to believe that others with different views may be right, and will only listen to the small cadre that thinks as we do, society as a whole, which depends on the cooperations of its members for the good of all, will crumble, leaving those of us who survive suffering in a world of small, paranoid, vicious tribes. That's not a world I wish to inhabit.
When we lie for our own gain and others' losses, we forget that words really do have power. As theologian Henri Nouwen states:
For God, speaking and creating are the same. It is this creative power of the word we need to reclaim. What we say is very important. When we say, "I love you," and say it from the heart, we can give another person new life, new hope, new courage. When we say, "I hate you," we can destroy another person. Let's watch our words.