Rising concern over so-called “fake news” has put new pressure on a basic fault line in the fact-checking world: between “political fact-checking” that tests claims from politicians and other public figures, and “debunking” or “verification” that targets viral images and texts circulating online, especially on social media. Is the surge in online debunking since 2016 taking resources and attention away from keeping politicians honest? Can organizations do both, or do they need to specialize? What does the COVID-19 pandemic tell us about the connections between these two forms of fact-checking?