First Obama-Romney 2012 Presidential debate: on Budget & Economy

Jill Stein: Still no end in sight to economic crisis: focus on jobs

ROMNEY: My plan has five basic parts [to create more than] 4 million jobs [without] trickle-down government.

STEIN: We still very much still have a crisis in our economy. One out of two Americans are in poverty or heading towards poverty. About 25 million people are either jobless or working in jobs that do not pay living wages. There are 8 million people who've lost their homes. There is no end in sight to the foreclosure crisis. And we have an entire generation of students who are effectively indentured servants, trapped in unforgiving loans and do not have the jobs to pay them back with unemployment and underemployment rate of about 50% among our young people. So, we very much need new solutions. What we hear from both Obama and Romney are essentially a rehash: more about deregulating business & Wall Street. We are calling for a Green New Deal modeled after the New Deal that actually got us out of the Great Depression. They created approximately 4 million jobs in as little as two months.

Source: Democracy Now! Expanded First Obama-Romney 2012 debate Oct 4, 2012

Barack Obama: Economic patriotism instead of top-down policies

I think we've got to invest in education and training. I think it's important for us to develop new sources of energy here in America, that we change our tax code to make sure that we're helping small businesses and companies that are investing here in the United States, that we take some of the money that we're saving as we wind down two wars to rebuild America and that we reduce our deficit in a balanced way that allows us to make these critical investments.

Now, it ultimately is going to be up to the voters, to you, which path we should take. Are we going to double-down on the top-down economic policies that helped to get us into this mess? Or do we embrace a new economic patriotism that says America does best when the middle class does best? And I'm looking forward to having that debate.

Source: First Obama-Romney 2012 Presidential debate Oct 3, 2012

Barack Obama: $5T in tax cuts & $2T on defense is failed recipe from 2003

OBAMA: Gov. Romney's proposal calls for a $5 trillion tax cut, that he is going to pay for it by closing loopholes and deductions. When you add up all the loopholes and deductions that upper-income individuals are currently taking advantage of, you don't come close to paying for $5 trillion.

ROMNEY: If the tax plan he described were a tax plan I was asked to support, I'd say absolutely not. What I've said is I won't put in place a tax cut that adds to the deficit. So there's no economist that can say Mitt Romney's tax plan adds $5 trillion if I say I will not add to the deficit with my tax plan.

OBAMA: Well, for 18 months he's been running on this tax plan. It is not possible to come up with enough deductions and loopholes to avoid either raising the deficit or burdening the middle class. It's math. It's arithmetic. Look, we've tried this. Gov. Romney's approach is the same sales pitch that was made in 2001 and 2003, and it all culminated in the worst financial crisis since the Great Depression.

Source: First Obama-Romney 2012 Presidential debate Oct 3, 2012

Barack Obama: Deficit came from two wars paid for on a credit card

OBAMA: When I walked into the Oval Office, I had more than a trillion-dollar deficit greeting me. And we know where it came from: two wars that were paid for on a credit card; two tax cuts that were not paid for; and a whole bunch of programs that were not paid for; and then a massive economic crisis. We had to take some initial emergency measures to make sure we didn't slip into a Great Depression, but what we've also said is, let's make sure that we are cutting out those things that are not helping us grow. And we cut a trillion dollars out of our discretionary domestic budget. That's the largest cut in the discretionary domestic budget since Dwight Eisenhower. Now, we all know that we've got to do more. And so I've put forward a specific $4 trillion deficit reduction plan. It's on a website. You can look at all the numbers, what cuts we make and what revenue we raise.

ROMNEY: You've been president four years. You said you'd cut the deficit in half. We still have trillion-dollar deficits.

Source: First Obama-Romney 2012 Presidential debate Oct 3, 2012

Mitt Romney: Economy Tax: Middle-income families have lost $4,300

The people who are having the hard time right now are middle-income Americans. Under the president's policies, middle-income Americans have been buried. They're just being crushed. Middle-income Americans have seen their income come down by $4,300. This is a tax in and of itself. I'll call it the economy tax. It's been crushing.

At the same time, gasoline prices have doubled under the president. Electric rates are up. Food prices are up. Health care costs have gone up by $2,500 a family. Middle-income families are being crushed.

And so the question is how to get them going again. And I've described it. It's energy and trade, the right kind of training programs, balancing our budget and helping small business. Those are the cornerstones of my plan.

And finally, with regards to that tax cut, look, I'm not looking to cut massive taxes and to reduce the revenues going to the government.

Source: First Obama-Romney 2012 Presidential debate Oct 3, 2012

  • The above quotations are from First Obama-Romney 2012 Presidential debate (in Denver Colorado).
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2016 Presidential contenders on Budget & Economy:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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Page last updated: Dec 05, 2018