2012 Debate, Live at the Colorado ARGUEDOME10/3/2012 6:01:00 P

Domestic Issues Economy Major differences between creating new jobs? Obama Fighting our way back o 5 million jobs created o auto industry back o housing rising Where are we going? o Romney says: cut taxes, skew toward wealthy, well be better off o Obama thinks education, energy, tax code, small companies, balance budget responsibily. o Money saved through two wars to rebuild America o Double down on top down o New economic patriotism o America best when Middle class is best Romney Can you help us? o Woman grabbed arm, asked him to help him. o Baby lady asked for help o Different path o 5 basic parts energy independent open more trade, in Latin America, crack on china skills needed to succeed balanced budget

champion small business o Path were on is unsuccessful o Obama wants to spend more, tax more, etc. o Trickle down government Obama response Improve education o Drawing on ideas from D and R Race to the top, reforms in 46 states

Hire 100,000 math and science teachers Community Colleges Tuition low Tax code o Corporate tax code too high Close loopholes on overseas employment Boost American energy production Oil and NG is higher than years Energy of the future All possible Close deficit o Reduce spending responsibly o Enough revenue to do it Numbers Doesnt have a 5 trillion tax cut. Tax relief for middle class Not going to change high income tax People having hard time are middle Americans Obamas fault o $4,300 down with Obama o Gas prices doubled o Electric o Food o Healthcare Fix? o Energy and trade o Helping small business Education is key o Overhead is overwhelming on spending for training in education Taxation o Corporate tax rate should come down o Take in money when accounting for growth Energy o Increase in energy on private land, not public land

Romney

o Oil from off shore and Alaska o Coal Tax cut o Not looking ot cut massive taxes o No tax cut to add to the deficit o Reduce burden paid by middle Americans o Cannot do that by reducing burden on high class

Obama Taxes o I would cut taxes for middle class families o We did that o Middle class does well, we do well o More money in pocket for stuff Business make more money that way o Romney calls for $5 trillion tax cut o Pay for it by closing loopholes in deductions o How would you close those loopholes? He doesnt say. o Upper income taks advantage of loopholes, but when you take those out, still doesnt make up $5 trillion o Only way to not reduce deficit, will have to burden middle class, say economists Romney Lol stfu moderator Tax plan I support o Wont put in a tax cut I add to the deficit o I will not add to the deficit in my tax plan gist o will not reduce taxes paid by high income Americans o will not raise on middle Americans, will lower 6 other studies say your studies are wrong lower rates to get revenue small business pay that rate small business not taxed at coporate tax rate, but individual tax rate o jobs for the American people o o o o Obama 18 months hes been running on this tax plan

big bold idea is nevermind if you lower the rates the way you describe, its not possible to close loopholes and make up the $5 trillion without burdening high and middle class lowered taxes for 98% of families lowered small business taxes 18 times continue with that for incomes over $250,000, go back to Clinton taxes encourage job growth through small business 97% of small business dont have increases Summary: o How are you going to pay for this Romney?

Romney Businesses that employ 1/4th of all employment. Increase their taxes. He and his son pay more now. Over 50% of what they earned You want to tax successful small business more Will cost jobs. I like jobs. Bring down tax rates. Obama Lower reductions and exemptions to create more jobs By closing loopholes, youre not going ot pick up the tab? Math and common sense shows thats not a recipe for growth Weve tried both approaches o Same sales pitch made in 2001 and 2003 o Slowest job growth in 50 years o Surplus to deficit o Lead to worst collapse sense depression Im saying go Clinton Jobs and opportunity for more Americans Middle class families get tax breaks The more well off should pay more Acts like a douche toward Jim You keep lying about $5 trillion tax cut My plan isnt like anything thats been tried before

Romney

Priority is putting people back to work Growth slowing Status Quo wont cut it

What about Federal deficit? Difference between the two of you? Romney Critical issue. Not an economic issue alone, but a moral issue My generation pays more than we take in Obama Next generation will get it worse This is simply not moral 3 ways to cut it: raise taxes. Cut spending. Grow economy. Eliminate all programs with this test: is this program worth borrowing money from China? Cut Obamacare and PBS Cut backs done through attrition Pres says he cuts the deficit in half. He doubled it. More than a Trillion dollar deficit I walked in on an economy that charged it, basically. Yes, we have to take some emergency measures Lets make sure were cutting out things that arent helping us grow? I cut lotsa stuff Ive got plans for more. Its on the internet. $2.50 cut for every $1 added Balanced! Revenue and spending cuts.

Romney will do bad things with his plan 30% cut for seniors, kids, etc. Romney and Obama argue Romney Trillion $ deficit Lotsa debt with Obama Not getting job done

 You dont wanna raise taxes on wealthy people Youre taxing people who make jobs Obama goes on about stuff that is problematic right now Romney States, not Federal Do you see a major difference between the two of you on Social Security Obama SS is sound, needs tweaked. Basic structure is sound Values of SS and medicare Medicare o Grandma helped raise me o She was independent on SS and Medicare o Floor she couldnt go under o Entitlements bring independency o Millions out there counting on this o How do we strengthen over time? Bring down costs if we deal with LT deficits Brought down costs on seniors Saving money throughout system o Medicare: lower costs o SS: Good, needs tweaked Romney Seniors depend on these programs Neither of us want to propose changes for current and near retirees For younger people, we need to talk to changes On medicare, current retirees, hes cutting money o by not overpaying by just reducing rates o Hospitals wont take medicare patients o Lotsa people lose care To young people: I want it there for them without question in the future

Obama

Romney Obama

You want to turn it into a voucher program, I dont like that Original idea by Ryan: o voucher to seniors o they go out and buy their insurance o wont keep up with inflation o now he says hell maintain it alongside with Vouchers o overtime, traditional medicare system will collapse o grandma will be at mercy when she needs help most If you repeal Obamacare, those seniors will pay more. Voucher system? No change to current retirees. People that are young. Medicare in place for them, they can choose medicare or their own program Your $6,000 wont happen Id rather have a private plan. People should make their own choice Idea came from Bill Clintons CoS I believe in competition Every study shows medicare has lower cost than private insurance Private insurers have to make a profit Higher admin costs, plus stuff ontop of that Money has to come from somewhere? o When you move to voucher system, seniors are at mercy o If traditional medicare has decayed, seniors are stuck. We need to lower cost of medicare

Regulation Romney Regulation needs to be there But regulation can be excessive o Out of date o Reg. becomes excessive with Obama o Some banks are too big to fail Best thing for big banks

Obama Great example Reason we are in crisis is prompted by reckless behavior across board People borrowing money they couldnt afford Also had banks making money hand over fists o Churning things they didnt understand for big profit Living will for banks Repeal Dod-Frank, says Romney Big problem we have is too much oversight of Wall Street? You think that? Go with Romney. I dont believe that. Romney Regulation in WS No giving banks a blank check Thats killing regional and small banks Mortgages to people not qualified Dod-Frank says give qualified mortgage. Whats a qualified mortgage? Thats hurt the housing market Dod-Frank didnt anticipate this stuff

Healthcare bumbumbummmm Romney Obamacare repeal please Comes from experience o Lots of people cant afford it You said youd bring down costs, but it went up Expensive things hurt families Put money back in medicare for seniors Doesnt like boards for treatments Whats been the effect of Obamacare? o makes us less likely to hire people my state did it at the state level

Obama 4 years ago I had those same conversations

families were worried about going bankrupt if they got sick o might not get coverage at all o insurance companies might make arbitrary limit o not enough money to pay bills because insurance says they hit limit o this makes sure middleclass families are okay Obamacare says o If youve got insurance, youre good, but those companies cant jerk you around They cant spend more on their own profits than care This system worked really well in Mass. Romney totally set up this same system, and it works at home. I like the fact we had R and D come together You pushed through a plan that no R wanted. You pushed through something that no one wanted You raised taxes, we didnt We didnt cut medicare We didnt put a board that tells people what treatment they receive We didnt put people in apposition where they lose their insurance Numbers Republicans put out a plan that was bipartisan that was swept aside We have to have a President that can reach across the asile Bipartisan basis? Its a bipartisan idea! Mass was a model for the nation Should have given advice to Republicans in Congress on how to cooperate Romney talks about a board o The board is a group of health care experts to decide how to reduce cost of care in system overall o 1) leave people uninsured or 2) how can we make the cost of care more effective? o Example in Cleveland Romney says replace it. Replace it with what? Leave it to states? No evidence that will help.

Romney Obama

Romney Obama

Dont have government mandate that People can handle themselves, basically Actually, not. The law doesnt help people, but you want to keep it like that Romney says hell replace it, but he doesnt say how Romney doesnt get into details, its a problem. People need to ask why that is.

Mom runs garbage disposal, thanks mom Romney Mass is a state. We need to do state-by-state, not a federal thing Do you believe theres a difference on how you view the mission of the Fed? Obama First role of Fed is to keep the people safe Fed has capacity to help open opportunity for American people o Yay free enterprise o Things we do better together During Civil War, Lincoln says lets do all this stuff together That doesnt restrict freedom, that enhances it I try to apply same principles Education 100,000 math and science teachers Teachers are getting laid off, Romney wants less teachers Every state should decide by itself how many teachers it needs Life and Liberty: responsibility to protect everyone Do not cut military Commitment to religious freedom and tolerance Were a nation that believes were products of same God, so we should try to care for those that need it pursuit of happiness For individuals, people need rights to dream

Romney

Trickle down govt. approach. Govt is better than people. That doesnt work More food stamps. 50% of college grads cant find work Path were taking is not working Education is mostly at state and local level, but fed can have an important role. Fed can get vocal to get them to do better

Obama Race to the top o Worked to initiate major reform Budgets matter because budgets reflect choices Romney says he wants to cut taxes, and potentially benefit rich Significant cuts to fed education Ryan has budget that reflects Romney ideas, but it wasnt very detailed. Trend. Cutting the education budget by some number

Romney Where your money goes is where your heart goes $90 billion to green energy, thats a lot dude Fed shouldnt pick winners and losers

Fed should say how does private sector get better

Many legislative functions are in paralysis because of Partisan gridlock, what are you going to do about that? Romney Elected in a state thats blue I had to work across the aisle Ill sit down with them on day 1 and say we have to work on a Obama Working with Dems, eh? Thats why youre repealing Obamacare? Part of being a leader is describing what youre going to do, but you have to have a plan. Occasionally you have to say no to people in your party and people in the other party. collaborative basis. Find common ground We need leadership. Ive done it before, Ill do it again.

Both saying what youre for, but also saying no to things. Romney hasnt said no to his Party

Closing statement. Obama Romney

4 years ago, major crisis, my faith and confidence is undiminished. Sense of pride in building America Closing loopholes Close deficit in balanced way I fight everyday for the American people. Important election, Im concerned about direction of America Bigger than the two of us and parties What kind of America do you want to have for yourself? Paths go in very different directions Look at record More Obama, more middle class squeeze More Obama, more Obamacare More Obama, less medicare money More Obama, less military o Ill keep the military as is.

10/3/2012 6:01:00 PM

10/3/2012 6:01:00 PM