Full Text Campaign Buzz 2016 September 26, 2016: The first Trump-Clinton presidential debate transcript

POLITICAL TRANSCRIPTS

2016 PRESIDENTIAL CAMPAIGN:

The first Trump-Clinton presidential debate transcript

Source: WaPo, 9-26-16

According to most news outlets and post-debate polls Democratic nominee Hillary Clinton won the debate.

LESTER HOLT: Good evening from Hofstra University in Hempstead, New York. I’m Lester Holt, anchor of “NBC Nightly News.” I want to welcome you to the first presidential debate.

The participants tonight are Donald Trump and Hillary Clinton. This debate is sponsored by the Commission on Presidential Debates, a nonpartisan, nonprofit organization. The commission drafted tonight’s format, and the rules have been agreed to by the campaigns.

The 90-minute debate is divided into six segments, each 15 minutes long. We’llexplore three topic areas tonight: Achieving prosperity; America’s direction; and securing America. At the start of each segment, I will ask the same lead-off question to both candidates, and they will each have up to two minutes to respond. From that point until the end of the segment, we’ll have an open discussion.

The questions are mine and have not been shared with the commission or the campaigns. The audience here in the room has agreed to remain silent so that we can focus on what the candidates are saying.

I will invite you to applaud, however, at this moment, as we welcome the candidates: Democratic nominee for president of the United States, Hillary Clinton, and Republican nominee for president of the United States, Donald J. Trump.

(APPLAUSE)

CLINTON: How are you, Donald?

(APPLAUSE)

HOLT: Good luck to you.

(APPLAUSE)

Well, I don’t expect us to cover all the issues of this campaign tonight, but I remind everyone, there are two more presidential debates scheduled. We are going to focus on many of the issues that voters tell us are most important, and we’re going to press for specifics. I am honored to have this role, but this evening belongs to the candidates and, just as important, to the American people.

Candidates, we look forward to hearing you articulate your policies and your positions, as well as your visions and your values. So, let’s begin.

We’re calling this opening segment “Achieving Prosperity.” And central to that is jobs. There are two economic realities in America today. There’s been a record six straight years of job growth, and new census numbers show incomes have increased at a record rate after years of stagnation. However, income inequality remains significant, and nearly half of Americans are living paycheck to paycheck.

Beginning with you, Secretary Clinton, why are you a better choice than your opponent to create the kinds of jobs that will put more money into the pockets of American works?

CLINTON: Well, thank you, Lester, and thanks to Hofstra for hosting us.

The central question in this election is really what kind of country we want to be and what kind of future we’ll build together. Today is my granddaughter’s second birthday, so I think about this a lot. First, we have to build an economy that works for everyone, not just those at the top. That means we need new jobs, good jobs, with rising incomes.

I want us to invest in you. I want us to invest in your future. That means jobs in infrastructure, in advanced manufacturing, innovation and technology, clean, renewable energy, and small business, because most of the new jobs will come from small business. We also have to make the economy fairer. That starts with raising the national minimum wage and also guarantee, finally, equal pay for women’s work.

CLINTON: I also want to see more companies do profit-sharing. If you help create the profits, you should be able to share in them, not just the executives at the top.

And I want us to do more to support people who are struggling to balance family and work. I’ve heard from so many of you about the difficult choices you face and the stresses that you’re under. So let’s have paid family leave, earned sick days.Let’s be sure we have affordable child care and debt-free college.

How are we going to do it? We’re going to do it by having the wealthy pay their fair share and close the corporate loopholes.

Finally, we tonight are on the stage together, Donald Trump and I. Donald, it’s good to be with you. We’re going to have a debate where we are talking about the important issues facing our country. You have to judge us, who can shoulder the immense, awesome responsibilities of the presidency, who can put into action the plans that will make your life better. I hope that I will be able to earn your vote on November 8th.

HOLT: Secretary Clinton, thank you.

Mr. Trump, the same question to you. It’s about putting money — more money into the pockets of American workers. You have up to two minutes.

TRUMP: Thank you, Lester. Our jobs are fleeing the country. They’re going to Mexico. They’re going to many other countries. You look at what China is doing to our country in terms of making our product. They’re devaluing their currency, and there’s nobody in our government to fight them. And we have a very good fight. And we have a winning fight. Because they’re using our country as a piggy bank to rebuild China, and many other countries are doing the same thing.

So we’re losing our good jobs, so many of them. When you look at what’s happening in Mexico, a friend of mine who builds plants said it’s the eighth wonder of the world. They’re building some of the biggest plants anywhere in the world, some of the most sophisticated, some of the best plants. With the United States, as he said, not so much.

So Ford is leaving. You see that, their small car division leaving. Thousands of jobs leaving Michigan, leaving Ohio. They’re all leaving. And we can’t allow it to happen anymore. As far as child care is concerned and so many other things, I think Hillary and I agree on that. We probably disagree a little bit as to numbers and amounts and what we’re going to do, but perhaps we’ll be talking about that later.

But we have to stop our jobs from being stolen from us. We have to stop our companies from leaving the United States and, with it, firing all of their people. All you have to do is take a look at Carrier air conditioning in Indianapolis. They left — fired 1,400 people. They’re going to Mexico. So many hundreds and hundreds of companies are doing this.

TRUMP: We cannot let it happen. Under my plan, I’ll be reducing taxes tremendously, from 35 percent to 15 percent for companies, small and big businesses. That’s going to be a job creator like we haven’t seen since Ronald Reagan. It’s going to be a beautiful thing to watch.

Companies will come. They will build. They will expand. New companies will start. And I look very, very much forward to doing it. We have to renegotiate our trade deals, and we have to stop these countries from stealing our companies and our jobs.

HOLT: Secretary Clinton, would you like to respond?

CLINTON: Well, I think that trade is an important issue. Of course, we are 5 percent of the world’s population; we have to trade with the other 95 percent.And we need to have smart, fair trade deals.

We also, though, need to have a tax system that rewards work and not just financial transactions. And the kind of plan that Donald has put forth would be trickle-down economics all over again. In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we’ve ever had.

I call it trumped-up trickle-down, because that’s exactly what it would be. That is not how we grow the economy.

We just have a different view about what’s best for growing the economy, how we make investments that will actually produce jobs and rising incomes.

I think we come at it from somewhat different perspectives. I understand that.You know, Donald was very fortunate in his life, and that’s all to his benefit. He started his business with $14 million, borrowed from his father, and he really believes that the more you help wealthy people, the better off we’ll be and that everything will work out from there.

I don’t buy that. I have a different experience. My father was a small-businessman. He worked really hard. He printed drapery fabrics on long tables, where he pulled out those fabrics and he went down with a silkscreen and dumped the paint in and took the squeegee and kept going.

And so what I believe is the more we can do for the middle class, the more we can invest in you, your education, your skills, your future, the better we will be off and the better we’ll grow. That’s the kind of economy I want us to see again.

HOLT: Let me follow up with Mr. Trump, if you can. You’ve talked about creating 25 million jobs, and you’ve promised to bring back millions of jobs for Americans. How are you going to bring back the industries that have left this country for cheaper labor overseas? How, specifically, are you going to tell American manufacturers that you have to come back?

TRUMP: Well, for one thing — and before we start on that — my father gave me a very small loan in 1975, and I built it into a company that’s worth many, many billions of dollars, with some of the greatest assets in the world, and I say that only because that’s the kind of thinking that our country needs.

Our country’s in deep trouble. We don’t know what we’re doing when it comes to devaluations and all of these countries all over the world, especially China.They’re the best, the best ever at it. What they’re doing to us is a very, very sad thing.

So we have to do that. We have to renegotiate our trade deals. And, Lester, they’re taking our jobs, they’re giving incentives, they’re doing things that, frankly, we don’t do.

Let me give you the example of Mexico. They have a VAT tax. We’re on a different system. When we sell into Mexico, there’s a tax. When they sell in — automatic, 16 percent, approximately. When they sell into us, there’s no tax. It’s a defective agreement. It’s been defective for a long time, many years, but the politicians haven’t done anything about it.

Now, in all fairness to Secretary Clinton — yes, is that OK? Good. I want you to be very happy. It’s very important to me.

But in all fairness to Secretary Clinton, when she started talking about this, it was really very recently. She’s been doing this for 30 years. And why hasn’t she made the agreements better? The NAFTA agreement is defective. Just because of the tax and many other reasons, but just because of the fact…

HOLT: Let me interrupt just a moment, but…

TRUMP: Secretary Clinton and others, politicians, should have been doing this for years, not right now, because of the fact that we’ve created a movement. They should have been doing this for years. What’s happened to our jobs and our country and our economy generally is — look, we owe $20 trillion. We cannot do it any longer, Lester. HOLT: Back to the question, though. How do you bring back — specifically bring back jobs, American manufacturers? How do you make them bring the jobs back?

TRUMP: Well, the first thing you do is don’t let the jobs leave. The companies are leaving. I could name, I mean, there are thousands of them. They’re leaving, and they’re leaving in bigger numbers than ever.

And what you do is you say, fine, you want to go to Mexico or some other country, good luck. We wish you a lot of luck. But if you think you’re going to make your air conditioners or your cars or your cookies or whatever you make and bring them into our country without a tax, you’re wrong.

And once you say you’re going to have to tax them coming in, and our politicians never do this, because they have special interests and the special interests want those companies to leave, because in many cases, they own the companies. So what I’m saying is, we can stop them from leaving. We have to stop them from leaving. And that’s a big, big factor.

HOLT: Let me let Secretary Clinton get in here.

CLINTON: Well, let’s stop for a second and remember where we were eight years ago. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.

In fact, Donald was one of the people who rooted for the housing crisis. He said, back in 2006, “Gee, I hope it does collapse, because then I can go in and buy some and make some money.” Well, it did collapse.

TRUMP: That’s called business, by the way.

CLINTON: Nine million people — nine million people lost their jobs. Five million people lost their homes. And $13 trillion in family wealth was wiped out.

Now, we have come back from that abyss. And it has not been easy. So we’re now on the precipice of having a potentially much better economy, but the last thing we need to do is to go back to the policies that failed us in the first place.

Independent experts have looked at what I’ve proposed and looked at what Donald’s proposed, and basically they’ve said this, that if his tax plan, which would blow up the debt by over $5 trillion and would in some instances disadvantage middle-class families compared to the wealthy, were to go into effect, we would lose 3.5 million jobs and maybe have another recession.

They’ve looked at my plans and they’ve said, OK, if we can do this, and I intend to get it done, we will have 10 million more new jobs, because we will be making investments where we can grow the economy. Take clean energy. Some country is going to be the clean- energy superpower of the 21st century. Donald thinks that climate change is a hoax perpetrated by the Chinese. I think it’s real.

TRUMP: I did not. I did not. I do not say that.

CLINTON: I think science is real.

TRUMP: I do not say that.

CLINTON: And I think it’s important that we grip this and deal with it, both at home and abroad. And here’s what we can do. We can deploy a half a billion more solar panels. We can have enough clean energy to power every home. We can build a new modern electric grid. That’s a lot of jobs; that’s a lot of new economic activity.

So I’ve tried to be very specific about what we can and should do, and I am determined that we’re going to get the economy really moving again, building on the progress we’ve made over the last eight years, but never going back to what got us in trouble in the first place.

HOLT: Mr. Trump?

TRUMP: She talks about solar panels. We invested in a solar company, our country. That was a disaster. They lost plenty of money on that one.

Now, look, I’m a great believer in all forms of energy, but we’re putting a lot of people out of work. Our energy policies are a disaster. Our country is losing so much in terms of energy, in terms of paying off our debt. You can’t do what you’re looking to do with $20 trillion in debt.

The Obama administration, from the time they’ve come in, is over 230 years’ worth of debt, and he’s topped it. He’s doubled it in a course of almost eight years, seven-and-a-half years, to be semi- exact.

So I will tell you this. We have to do a much better job at keeping our jobs. And we have to do a much better job at giving companies incentives to build new companies or to expand, because they’re not doing it.

And all you have to do is look at Michigan and look at Ohio and look at all of these places where so many of their jobs and their companies are just leaving, they’re gone.

And, Hillary, I’d just ask you this. You’ve been doing this for 30 years. Why are you just thinking about these solutions right now? For 30 years, you’ve been doing it, and now you’re just starting to think of solutions.

CLINTON: Well, actually…

TRUMP: I will bring — excuse me. I will bring back jobs. You can’t bring back jobs.

CLINTON: Well, actually, I have thought about this quite a bit.

TRUMP: Yeah, for 30 years.

CLINTON: And I have — well, not quite that long. I think my husband did a pretty good job in the 1990s. I think a lot about what worked and how we can make it work again…

TRUMP: Well, he approved NAFTA…

(CROSSTALK)

CLINTON: … million new jobs, a balanced budget…

TRUMP: He approved NAFTA, which is the single worst trade deal ever approved in this country.

CLINTON: Incomes went up for everybody. Manufacturing jobs went up also in the 1990s, if we’re actually going to look at the facts.

When I was in the Senate, I had a number of trade deals that came before me, and I held them all to the same test. Will they create jobs in America? Will they raise incomes in America? And are they good for our national security? Some of them I voted for. The biggest one, a multinational one known as CAFTA, I voted against. And because I hold the same standards as I look at all of these trade deals.

But let’s not assume that trade is the only challenge we have in the economy. I think it is a part of it, and I’ve said what I’m going to do. I’m going to have a special prosecutor. We’re going to enforce the trade deals we have, and we’re going to hold people accountable.

When I was secretary of state, we actually increased American exports globally 30 percent. We increased them to China 50 percent. So I know how to really work to get new jobs and to get exports that helped to create more new jobs.

HOLT: Very quickly…

TRUMP: But you haven’t done it in 30 years or 26 years or any number you want to…

CLINTON: Well, I’ve been a senator, Donald…

TRUMP: You haven’t done it. You haven’t done it.

CLINTON: And I have been a secretary of state…

TRUMP: Excuse me.

CLINTON: And I have done a lot…

TRUMP: Your husband signed NAFTA, which was one of the worst things that ever happened to the manufacturing industry.

CLINTON: Well, that’s your opinion. That is your opinion.

TRUMP: You go to New England, you go to Ohio, Pennsylvania, you go anywhere you want, Secretary Clinton, and you will see devastation where manufacture is down 30, 40, sometimes 50 percent. NAFTA is the worst trade deal maybe ever signed anywhere, but certainly ever signed in this country.

And now you want to approve Trans-Pacific Partnership. You were totally in favor of it. Then you heard what I was saying, how bad it is, and you said, I can’t win that debate. But you know that if you did win, you would approve that, and that will be almost as bad as NAFTA. Nothing will ever top NAFTA.

CLINTON: Well, that is just not accurate. I was against it once it was finally negotiated and the terms were laid out. I wrote about that in…

TRUMP: You called it the gold standard.

(CROSSTALK)

TRUMP: You called it the gold standard of trade deals. You said it’s the finest deal you’ve ever seen.

CLINTON: No.

TRUMP: And then you heard what I said about it, and all of a sudden you were against it.

CLINTON: Well, Donald, I know you live in your own reality, but that is not the facts. The facts are — I did say I hoped it would be a good deal, but when it was negotiated…

TRUMP: Not.

CLINTON: … which I was not responsible for, I concluded it wasn’t. I wrote about that in my book…

TRUMP: So is it President Obama’s fault?

CLINTON: … before you even announced.

TRUMP: Is it President Obama’s fault?

CLINTON: Look, there are differences…

TRUMP: Secretary, is it President Obama’s fault?

CLINTON: There are…

TRUMP: Because he’s pushing it.

CLINTON: There are different views about what’s good for our country, our economy, and our leadership in the world. And I think it’s important to look at what we need to do to get the economy going again. That’s why I said new jobs with rising incomes, investments, not in more tax cuts that would add $5 trillion to the debt.

TRUMP: But you have no plan.

CLINTON: But in — oh, but I do.

TRUMP: Secretary, you have no plan.

CLINTON: In fact, I have written a book about it. It’s called “Stronger Together.” You can pick it up tomorrow at a bookstore…

TRUMP: That’s about all you’ve…

(CROSSTALK)

HOLT: Folks, we’re going to…

CLINTON: … or at an airport near you.

HOLT: We’re going to move to…

CLINTON: But it’s because I see this — we need to have strong growth, fair growth, sustained growth. We also have to look at how we help families balance the responsibilities at home and the responsibilities at business.

So we have a very robust set of plans. And people have looked at both of our plans, have concluded that mine would create 10 million jobs and yours would lose us 3.5 million jobs, and explode the debt which would have a recession.

TRUMP: You are going to approve one of the biggest tax cuts in history. You are going to approve one of the biggest tax increases in history. You are going to drive business out. Your regulations are a disaster, and you’re going to increase regulations all over the place.

And by the way, my tax cut is the biggest since Ronald Reagan. I’m very proud of it. It will create tremendous numbers of new jobs. But regulations, you are going to regulate these businesses out of existence.

When I go around — Lester, I tell you this, I’ve been all over. And when I go around, despite the tax cut, the thing — the things that business as in people like the most is the fact that I’m cutting regulation. You have regulations on top of regulations, and new companies cannot form and old companies are going out of business. And you want to increase the regulations and make them even worse.

I’m going to cut regulations. I’m going to cut taxes big league, and you’re going to raise taxes big league, end of story.

HOLT: Let me get you to pause right there, because we’re going to move into — we’re going to move into the next segment. We’re going to talk taxes…

CLINTON: That can’t — that can’t be left to stand.

HOLT: Please just take 30 seconds and then we’re going to go on.

CLINTON: I kind of assumed that there would be a lot of these charges and claims, and so…

TRUMP: Facts.

CLINTON: So we have taken the home page of my website, HillaryClinton.com, and we’ve turned it into a fact-checker. So if you want to see in real-time what the facts are, please go and take a look. Because what I have proposed…

TRUMP: And take a look at mine, also, and you’ll see.

CLINTON: … would not add a penny to the debt, and your plans would add $5 trillion to the debt. What I have proposed would cut regulations and streamline them for small businesses. What I have proposed would be paid for by raising taxes on the wealthy, because they have made all the gains in the economy. And I think it’s time that the wealthy and corporations paid their fair share to support this country.

HOLT: Well, you just opened the next segment.

TRUMP: Well, could I just finish — I think I…

(CROSSTALK)

HOLT: I’m going to give you a chance right here…

TRUMP: I think I should — you go to her website, and you take a look at her website.

HOLT: … with a new 15-minute segment…

TRUMP: She’s going to raise taxes $1.3 trillion.

HOLT: Mr. Trump, I’m going to…

TRUMP: And look at her website. You know what? It’s no difference than this. She’s telling us how to fight ISIS. Just go to her website. She tells you how to fight ISIS on her website. I don’t think General Douglas MacArthur would like that too much.

HOLT: The next segment, we’re continuing…

CLINTON: Well, at least I have a plan to fight ISIS.

HOLT: … achieving prosperity…

TRUMP: No, no, you’re telling the enemy everything you want to do.

CLINTON: No, we’re not. No, we’re not.

TRUMP: See, you’re telling the enemy everything you want to do. No wonder you’ve been fighting — no wonder you’ve been fighting ISIS your entire adult life.

CLINTON: That’s a — that’s — go to the — please, fact checkers, get to work.

HOLT: OK, you are unpacking a lot here. And we’re still on the issue of achieving prosperity. And I want to talk about taxes. The fundamental difference between the two of you concerns the wealthy.

Secretary Clinton, you’re calling for a tax increase on the wealthiest Americans. I’d like you to further defend that. And, Mr. Trump, you’re calling for tax cuts for the wealthy. I’d like you to defend that. And this next two-minute answer goes to you, Mr. Trump.

TRUMP: Well, I’m really calling for major jobs, because the wealthy are going create tremendous jobs. They’re going to expand their companies. They’re going to do a tremendous job.

I’m getting rid of the carried interest provision. And if you really look, it’s not a tax — it’s really not a great thing for the wealthy. It’s a great thing for the middle class. It’s a great thing for companies to expand.

And when these people are going to put billions and billions of dollars into companies, and when they’re going to bring $2.5 trillion back from overseas, where they can’t bring the money back, because politicians like Secretary Clinton won’t allow them to bring the money back, because the taxes are so onerous, and the bureaucratic red tape, so what — is so bad.

So what they’re doing is they’re leaving our country, and they’re, believe it or not, leaving because taxes are too high and because some of them have lots of money outside of our country. And instead of bringing it back and putting the money to work, because they can’t work out a deal to — and everybody agrees it should be brought back.

Instead of that, they’re leaving our country to get their money, because they can’t bring their money back into our country, because of bureaucratic red tape, because they can’t get together. Because we have — we have a president that can’t sit them around a table and get them to approve something.

And here’s the thing. Republicans and Democrats agree that this should be done, $2.5 trillion. I happen to think it’s double that. It’s probably $5 trillion that we can’t bring into our country, Lester. And with a little leadership, you’d get it in here very quickly, and it could be put to use on the inner cities and lots of other things, and it would be beautiful.

But we have no leadership. And honestly, that starts with Secretary Clinton.

HOLT: All right. You have two minutes of the same question to defend tax increases on the wealthiest Americans, Secretary Clinton.

CLINTON: I have a feeling that by, the end of this evening, I’m going to be blamed for everything that’s ever happened.

TRUMP: Why not?

CLINTON: Why not? Yeah, why not?

(LAUGHTER)

You know, just join the debate by saying more crazy things. Now, let me say this, it is absolutely the case…

TRUMP: There’s nothing crazy about not letting our companies bring their money back into their country.

HOLT: This is — this is Secretary Clinton’s two minutes, please.

TRUMP: Yes.

CLINTON: Yeah, well, let’s start the clock again, Lester. We’ve looked at your tax proposals. I don’t see changes in the corporate tax rates or the kinds of proposals you’re referring to that would cause the repatriation, bringing back of money that’s stranded overseas. I happen to support that.

TRUMP: Then you didn’t read it.

CLINTON: I happen to — I happen to support that in a way that will actually work to our benefit. But when I look at what you have proposed, you have what is called now the Trump loophole, because it would so advantage you and the business you do. You’ve proposed an approach that has a…

TRUMP: Who gave it that name? The first I’ve — who gave it that name?

(CROSSTALK)

HOLT: Mr. Trump, this is Secretary Clinton’s two minutes.

CLINTON: … $4 billion tax benefit for your family. And when you look at what you are proposing…

TRUMP: How much? How much for my family? CLINTON: … it is…

TRUMP: Lester, how much?

CLINTON: … as I said, trumped-up trickle-down. Trickle-down did not work. It got us into the mess we were in, in 2008 and 2009. Slashing taxes on the wealthy hasn’t worked.

And a lot of really smart, wealthy people know that. And they are saying, hey, we need to do more to make the contributions we should be making to rebuild the middle class.

CLINTON: I don’t think top-down works in America. I think building the middle class, investing in the middle class, making college debt-free so more young people can get their education, helping people refinance their — their debt from college at a lower rate. Those are the kinds of things that will really boost the economy. Broad-based, inclusive growth is what we need in America, not more advantages for people at the very top.

HOLT: Mr. Trump, we’re…

TRUMP: Typical politician. All talk, no action. Sounds good, doesn’t work. Never going to happen. Our country is suffering because people like Secretary Clinton have made such bad decisions in terms of our jobs and in terms of what’s going on.

Now, look, we have the worst revival of an economy since the Great Depression. And believe me: We’re in a bubble right now. And the only thing that looks good is the stock market, but if you raise interest rates even a little bit, that’s going to come crashing down.

We are in a big, fat, ugly bubble. And we better be awfully careful. And we have a Fed that’s doing political things. This Janet Yellen of the Fed. The Fed is doing political — by keeping the interest rates at this level. And believe me: The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, you’re going to see some very bad things happen, because the Fed is not doing their job. The Fed is being more political than Secretary Clinton.

HOLT: Mr. Trump, we’re talking about the burden that Americans have to pay, yet you have not released your tax returns. And the reason nominees have released their returns for decades is so that voters will know if their potential president owes money to — who he owes it to and any business conflicts. Don’t Americans have a right to know if there are any conflicts of interest?

TRUMP: I don’t mind releasing — I’m under a routine audit. And it’ll be released. And — as soon as the audit’s finished, it will be released.

But you will learn more about Donald Trump by going down to the federal elections, where I filed a 104-page essentially financial statement of sorts, the forms that they have. It shows income — in fact, the income — I just looked today — the income is filed at $694 million for this past year, $694 million. If you would have told me I was going to make that 15 or 20 years ago, I would have been very surprised.

But that’s the kind of thinking that our country needs. When we have a country that’s doing so badly, that’s being ripped off by every single country in the world, it’s the kind of thinking that our country needs, because everybody — Lester, we have a trade deficit with all of the countries that we do business with, of almost $800 billion a year. You know what that is? That means, who’s negotiating these trade deals?

We have people that are political hacks negotiating our trade deals.

HOLT: The IRS says an audit…

TRUMP: Excuse me.

HOLT: … of your taxes — you’re perfectly free to release your taxes during an audit. And so the question, does the public’s right to know outweigh your personal…

TRUMP: Well, I told you, I will release them as soon as the audit. Look, I’ve been under audit almost for 15 years. I know a lot of wealthy people that have never been audited. I said, do you get audited? I get audited almost every year.

And in a way, I should be complaining. I’m not even complaining. I don’t mind it. It’s almost become a way of life. I get audited by the IRS. But other people don’t.

I will say this. We have a situation in this country that has to be taken care of. I will release my tax returns — against my lawyer’s wishes — when she releases her 33,000 e-mails that have been deleted. As soon as she releases them, I will release.

(APPLAUSE)

I will release my tax returns. And that’s against — my lawyers, they say, “Don’t do it.” I will tell you this. No — in fact, watching shows, they’re reading the papers. Almost every lawyer says, you don’t release your returns until the audit’s complete. When the audit’s complete, I’ll do it. But I would go against them if she releases her e-mails.

HOLT: So it’s negotiable?

TRUMP: It’s not negotiable, no. Let her release the e-mails. Why did she delete 33,000…

HOLT: Well, I’ll let her answer that. But let me just admonish the audience one more time. There was an agreement. We did ask you to be silent, so it would be helpful for us. Secretary Clinton?

CLINTON: Well, I think you’ve seen another example of bait-and- switch here. For 40 years, everyone running for president has released their tax returns. You can go and see nearly, I think, 39, 40 years of our tax returns, but everyone has done it. We know the IRS has made clear there is no prohibition on releasing it when you’re under audit.

So you’ve got to ask yourself, why won’t he release his tax returns? And I think there may be a couple of reasons. First, maybe he’s not as rich as he says he is. Second, maybe he’s not as charitable as he claims to be.

CLINTON: Third, we don’t know all of his business dealings, but we have been told through investigative reporting that he owes about $650 million to Wall Street and foreign banks. Or maybe he doesn’t want the American people, all of you watching tonight, to know that he’s paid nothing in federal taxes, because the only years that anybody’s ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license, and they showed he didn’t pay any federal income tax.

TRUMP: That makes me smart.

CLINTON: So if he’s paid zero, that means zero for troops, zero for vets, zero for schools or health. And I think probably he’s not all that enthusiastic about having the rest of our country see what the real reasons are, because it must be something really important, even terrible, that he’s trying to hide.

And the financial disclosure statements, they don’t give you the tax rate. They don’t give you all the details that tax returns would. And it just seems to me that this is something that the American people deserve to see. And I have no reason to believe that he’s ever going to release his tax returns, because there’s something he’s hiding.

And we’ll guess. We’ll keep guessing at what it might be that he’s hiding. But I think the question is, were he ever to get near the White House, what would be those conflicts? Who does he owe money to? Well, he owes you the answers to that, and he should provide them.

HOLT: He also — he also raised the issue of your e-mails. Do you want to respond to that?

CLINTON: I do. You know, I made a mistake using a private e- mail. TRUMP: That’s for sure.

CLINTON: And if I had to do it over again, I would, obviously, do it differently. But I’m not going to make any excuses. It was a mistake, and I take responsibility for that.

HOLT: Mr. Trump?

TRUMP: That was more than a mistake. That was done purposely. OK? That was not a mistake. That was done purposely. When you have your staff taking the Fifth Amendment, taking the Fifth so they’re not prosecuted, when you have the man that set up the illegal server taking the Fifth, I think it’s disgraceful. And believe me, this country thinks it’s — really thinks it’s disgraceful, also.

As far as my tax returns, you don’t learn that much from tax returns. That I can tell you. You learn a lot from financial disclosure. And you should go down and take a look at that.

The other thing, I’m extremely underleveraged. The report that said $650 — which, by the way, a lot of friends of mine that know my business say, boy, that’s really not a lot of money. It’s not a lot of money relative to what I had.

The buildings that were in question, they said in the same report, which was — actually, it wasn’t even a bad story, to be honest with you, but the buildings are worth $3.9 billion. And the $650 isn’t even on that. But it’s not $650. It’s much less than that.

But I could give you a list of banks, I would — if that would help you, I would give you a list of banks. These are very fine institutions, very fine banks. I could do that very quickly.

I am very underleveraged. I have a great company. I have a tremendous income. And the reason I say that is not in a braggadocios way. It’s because it’s about time that this country had somebody running it that has an idea about money.

When we have $20 trillion in debt, and our country’s a mess, you know, it’s one thing to have $20 trillion in debt and our roads are good and our bridges are good and everything’s in great shape, our airports. Our airports are like from a third world country.

You land at LaGuardia, you land at Kennedy, you land at LAX, you land at Newark, and you come in from Dubai and Qatar and you see these incredible — you come in from China, you see these incredible airports, and you land — we’ve become a third world country.

So the worst of all things has happened. We owe $20 trillion, and we’re a mess. We haven’t even started. And we’ve spent $6 trillion in the Middle East, according to a report that I just saw. Whether it’s 6 or 5, but it looks like it’s 6, $6 trillion in the Middle East, we could have rebuilt our country twice.

And it’s really a shame. And it’s politicians like Secretary Clinton that have caused this problem. Our country has tremendous problems. We’re a debtor nation. We’re a serious debtor nation. And we have a country that needs new roads, new tunnels, new bridges, new airports, new schools, new hospitals. And we don’t have the money, because it’s been squandered on so many of your ideas.

HOLT: We’ll let you respond and we’ll move on to the next segment.

CLINTON: And maybe because you haven’t paid any federal income tax for a lot of years. (APPLAUSE)

And the other thing I think is important…

TRUMP: It would be squandered, too, believe me.

CLINTON: … is if your — if your main claim to be president of the United States is your business, then I think we should talk about that. You know, your campaign manager said that you built a lot of businesses on the backs of little guys.

And, indeed, I have met a lot of the people who were stiffed by you and your businesses, Donald. I’ve met dishwashers, painters, architects, glass installers, marble installers, drapery installers, like my dad was, who you refused to pay when they finished the work that you asked them to do.

We have an architect in the audience who designed one of your clubhouses at one of your golf courses. It’s a beautiful facility. It immediately was put to use. And you wouldn’t pay what the man needed to be paid, what he was charging you to do…

TRUMP: Maybe he didn’t do a good job and I was unsatisfied with his work…

CLINTON: Well, to…

TRUMP: Which our country should do, too.

CLINTON: Do the thousands of people that you have stiffed over the course of your business not deserve some kind of apology from someone who has taken their labor, taken the goods that they produced, and then refused to pay them?

I can only say that I’m certainly relieved that my late father never did business with you. He provided a good middle-class life for us, but the people he worked for, he expected the bargain to be kept on both sides.

And when we talk about your business, you’ve taken business bankruptcy six times. There are a lot of great businesspeople that have never taken bankruptcy once. You call yourself the King of Debt. You talk about leverage. You even at one time suggested that you would try to negotiate down the national debt of the United States.

TRUMP: Wrong. Wrong.

CLINTON: Well, sometimes there’s not a direct transfer of skills from business to government, but sometimes what happened in business would be really bad for government.

HOLT: Let’s let Mr. Trump…

CLINTON: And we need to be very clear about that.

TRUMP: So, yeah, I think — I do think it’s time. Look, it’s all words, it’s all sound bites. I built an unbelievable company. Some of the greatest assets anywhere in the world, real estate assets anywhere in the world, beyond the United States, in Europe, lots of different places. It’s an unbelievable company.

But on occasion, four times, we used certain laws that are there. And when Secretary Clinton talks about people that didn’t get paid, first of all, they did get paid a lot, but taken advantage of the laws of the nation.

Now, if you want to change the laws, you’ve been there a long time, change the laws. But I take advantage of the laws of the nation because I’m running a company. My obligation right now is to do well for myself, my family, my employees, for my companies. And that’s what I do.

But what she doesn’t say is that tens of thousands of people that are unbelievably happy and that love me. I’ll give you an example. We’re just opening up on Pennsylvania Avenue right next to the White House, so if I don’t get there one way, I’m going to get to Pennsylvania Avenue another.

But we’re opening the Old Post Office. Under budget, ahead of schedule, saved tremendous money. I’m a year ahead of schedule. And that’s what this country should be doing.

We build roads and they cost two and three and four times what they’re supposed to cost. We buy products for our military and they come in at costs that are so far above what they were supposed to be, because we don’t have people that know what they’re doing.

When we look at the budget, the budget is bad to a large extent because we have people that have no idea as to what to do and how to buy. The Trump International is way under budget and way ahead of schedule. And we should be able to do that for our country.

HOLT: Well, we’re well behind schedule, so I want to move to our next segment. We move into our next segment talking about America’s direction. And let’s start by talking about race.

The share of Americans who say race relations are bad in this country is the highest it’s been in decades, much of it amplified by shootings of African-Americans by police, as we’ve seen recently in Charlotte and Tulsa. Race has been a big issue in this campaign, and one of you is going to have to bridge a very wide and bitter gap.

So how do you heal the divide? Secretary Clinton, you get two minutes on this.

CLINTON: Well, you’re right. Race remains a significant challenge in our country. Unfortunately, race still determines too much, often determines where people live, determines what kind of education in their public schools they can get, and, yes, it determines how they’re treated in the criminal justice system. We’ve just seen those two tragic examples in both Tulsa and Charlotte.

And we’ve got to do several things at the same time. We have to restore trust between communities and the police. We have to work to make sure that our police are using the best training, the best techniques, that they’re well prepared to use force only when necessary. Everyone should be respected by the law, and everyone should respect the law.

CLINTON: Right now, that’s not the case in a lot of our neighborhoods. So I have, ever since the first day of my campaign, called for criminal justice reform. I’ve laid out a platform that I think would begin to remedy some of the problems we have in the criminal justice system.

But we also have to recognize, in addition to the challenges that we face with policing, there are so many good, brave police officers who equally want reform. So we have to bring communities together in order to begin working on that as a mutual goal. And we’ve got to get guns out of the hands of people who should not have them.

The gun epidemic is the leading cause of death of young African- American men, more than the next nine causes put together. So we have to do two things, as I said. We have to restore trust. We have to work with the police. We have to make sure they respect the communities and the communities respect them. And we have to tackle the plague of gun violence, which is a big contributor to a lot of the problems that we’re seeing today.

HOLT: All right, Mr. Trump, you have two minutes. How do you heal the divide?

TRUMP: Well, first of all, Secretary Clinton doesn’t want to use a couple of words, and that’s law and order. And we need law and order. If we don’t have it, we’re not going to have a country.

And when I look at what’s going on in Charlotte, a city I love, a city where I have investments, when I look at what’s going on throughout various parts of our country, whether it’s — I mean, I can just keep naming them all day long — we need law and order in our country.

I just got today the, as you know, the endorsement of the Fraternal Order of Police, we just — just came in. We have endorsements from, I think, almost every police group, very — I mean, a large percentage of them in the United States.

We have a situation where we have our inner cities, African- Americans, Hispanics are living in he’ll because it’s so dangerous. You walk down the street, you get shot.

In Chicago, they’ve had thousands of shootings, thousands since January 1st. Thousands of shootings. And I’m saying, where is this? Is this a war-torn country? What are we doing? And we have to stop the violence. We have to bring back law and order. In a place like Chicago, where thousands of people have been killed, thousands over the last number of years, in fact, almost 4,000 have been killed since Barack Obama became president, over — almost 4,000 people in Chicago have been killed. We have to bring back law and order.

Now, whether or not in a place like Chicago you do stop and frisk, which worked very well, Mayor Giuliani is here, worked very well in New York. It brought the crime rate way down. But you take the gun away from criminals that shouldn’t be having it.

We have gangs roaming the street. And in many cases, they’re illegally here, illegal immigrants. And they have guns. And they shoot people. And we have to be very strong. And we have to be very vigilant.

We have to be — we have to know what we’re doing. Right now, our police, in many cases, are afraid to do anything. We have to protect our inner cities, because African-American communities are being decimated by crime, decimated.

HOLT: Your two — your two minutes expired, but I do want to follow up. Stop-and-frisk was ruled unconstitutional in New York, because it largely singled out black and Hispanic young men.

TRUMP: No, you’re wrong. It went before a judge, who was a very against-police judge. It was taken away from her. And our mayor, our new mayor, refused to go forward with the case. They would have won an appeal. If you look at it, throughout the country, there are many places where it’s allowed.

HOLT: The argument is that it’s a form of racial profiling.

TRUMP: No, the argument is that we have to take the guns away from these people that have them and they are bad people that shouldn’t have them.

These are felons. These are people that are bad people that shouldn’t be — when you have 3,000 shootings in Chicago from January 1st, when you have 4,000 people killed in Chicago by guns, from the beginning of the presidency of Barack Obama, his hometown, you have to have stop-and-frisk.

You need more police. You need a better community, you know, relation. You don’t have good community relations in Chicago. It’s terrible. I have property there. It’s terrible what’s going on in Chicago.

But when you look — and Chicago’s not the only — you go to Ferguson, you go to so many different places. You need better relationships. I agree with Secretary Clinton on this.

TRUMP: You need better relationships between the communities and the police, because in some cases, it’s not good.

But you look at Dallas, where the relationships were really studied, the relationships were really a beautiful thing, and then five police officers were killed one night very violently. So there’s some bad things going on. Some really bad things.

HOLT: Secretary Clinton…

TRUMP: But we need — Lester, we need law and order. And we need law and order in the inner cities, because the people that are most affected by what’s happening are African-American and Hispanic people. And it’s very unfair to them what our politicians are allowing to happen.

HOLT: Secretary Clinton?

CLINTON: Well, I’ve heard — I’ve heard Donald say this at his rallies, and it’s really unfortunate that he paints such a dire negative picture of black communities in our country.

TRUMP: Ugh.

CLINTON: You know, the vibrancy of the black church, the black businesses that employ so many people, the opportunities that so many families are working to provide for their kids. There’s a lot that we should be proud of and we should be supporting and lifting up.

But we do always have to make sure we keep people safe. There are the right ways of doing it, and then there are ways that are ineffective. Stop-and-frisk was found to be unconstitutional and, in part, because it was ineffective. It did not do what it needed to do.

Now, I believe in community policing. And, in fact, violent crime is one-half of what it was in 1991. Property crime is down 40 percent. We just don’t want to see it creep back up. We’ve had 25 years of very good cooperation.

But there were some problems, some unintended consequences. Too many young African-American and Latino men ended up in jail for nonviolent offenses. And it’s just a fact that if you’re a young African-American man and you do the same thing as a young white man, you are more likely to be arrested, charged, convicted, and incarcerated. So we’ve got to address the systemic racism in our criminal justice system. We cannot just say law and order. We have to say — we have to come forward with a plan that is going to divert people from the criminal justice system, deal with mandatory minimum sentences, which have put too many people away for too long for doing too little.

We need to have more second chance programs. I’m glad that we’re ending private prisons in the federal system; I want to see them ended in the state system. You shouldn’t have a profit motivation to fill prison cells with young Americans. So there are some positive ways we can work on this.

And I believe strongly that commonsense gun safety measures would assist us. Right now — and this is something Donald has supported, along with the gun lobby — right now, we’ve got too many military- style weapons on the streets. In a lot of places, our police are outgunned. We need comprehensive background checks, and we need to keep guns out of the hands of those who will do harm.

And we finally need to pass a prohibition on anyone who’s on the terrorist watch list from being able to buy a gun in our country. If you’re too dangerous to fly, you are too dangerous to buy a gun. So there are things we can do, and we ought to do it in a bipartisan way.

HOLT: Secretary Clinton, last week, you said we’ve got to do everything possible to improve policing, to go right at implicit bias. Do you believe that police are implicitly biased against black people?

CLINTON: Lester, I think implicit bias is a problem for everyone, not just police.I think, unfortunately, too many of us in our great country jump to conclusions about each other. And therefore, I think we need all of us to be asking hard questions about, you know, why am I feeling this way?

But when it comes to policing, since it can have literally fatal consequences, I have said, in my first budget, we would put money into that budget to help us deal with implicit bias by retraining a lot of our police officers.

I’ve met with a group of very distinguished, experienced police chiefs a few weeks ago. They admit it’s an issue. They’ve got a lot of concerns. Mental health is one of the biggest concerns, because now police are having to handle a lot of really difficult mental health problems on the street.

CLINTON: They want support, they want more training, they want more assistance. And I think the federal government could be in a position where we would offer and provide that.

HOLT: Mr. Trump…

TRUMP: I’d like to respond to that.

HOLT: Please.

TRUMP: First of all, I agree, and a lot of people even within my own party want to give certain rights to people on watch lists and no- fly lists. I agree with you.When a person is on a watch list or a no-fly list, and I have the endorsement of the NRA, which I’m very proud of. These are very, very good people, and they’re protecting the Second Amendment.

But I think we have to look very strongly at no-fly lists and watch lists. And when people are on there, even if they shouldn’t be on there, we’ll help them, we’ll help them legally, we’ll help them get off. But I tend to agree with that quite strongly.

I do want to bring up the fact that you were the one that brought up the words super-predator about young black youth. And that’s a term that I think was a — it’s — it’s been horribly met, as you know. I think you’ve apologized for it. But I think it was a terrible thing to say.

And when it comes to stop-and-frisk, you know, you’re talking about takes guns away. Well, I’m talking about taking guns away from gangs and people that use them. And I don’t think — I really don’t think you disagree with me on this, if you want to know the truth.

I think maybe there’s a political reason why you can’t say it, but I really don’t believe — in New York City, stop-and-frisk, we had 2,200 murders, and stop-and-frisk brought it down to 500 murders. Five hundred murders is a lot of murders. It’s hard to believe, 500 is like supposed to be good?

But we went from 2,200 to 500. And it was continued on by Mayor Bloomberg. And it was terminated by current mayor. But stop-and- frisk had a tremendous impact on the safety of New York City. Tremendous beyond belief. So when you say it has no impact, it really did. It had a very, very big impact.

CLINTON: Well, it’s also fair to say, if we’re going to talk about mayors, that under the current mayor, crime has continued to drop, including murders. So there is…

TRUMP: No, you’re wrong. You’re wrong.

CLINTON: No, I’m not.

TRUMP: Murders are up. All right. You check it.

CLINTON: New York — New York has done an excellent job. And I give credit — I give credit across the board going back two mayors, two police chiefs, because it has worked. And other communities need to come together to do what will work, as well.

Look, one murder is too many. But it is important that we learn about what has been effective. And not go to things that sound good that really did not have the kind of impact that we would want. Who disagrees with keeping neighborhoods safe?

But let’s also add, no one should disagree about respecting the rights of young men who live in those neighborhoods. And so we need to do a better job of working, again, with the communities, faith communities, business communities, as well as the police to try to deal with this problem.

HOLT: This conversation is about race. And so, Mr. Trump, I have to ask you for five…

TRUMP: I’d like to just respond, if I might.

HOLT: Please — 20 seconds.

TRUMP: I’d just like to respond.

HOLT: Please respond, then I’ve got a quick follow-up for you.

TRUMP: I will. Look, the African-American community has been let down by our politicians. They talk good around election time, like right now, and after the election, they said, see ya later, I’ll see you in four years.

The African-American community — because — look, the community within the inner cities has been so badly treated. They’ve been abused and used in order to get votes by Democrat politicians, because that’s what it is. They’ve controlled these communities for up to 100 years.

HOLT: Mr. Trump, let me…

(CROSSTALK)

CLINTON: Well, I — I do think…

TRUMP: And I will tell you, you look at the inner cities — and I just left Detroit, and I just left Philadelphia, and I just — you know, you’ve seen me, I’ve been all over the place. You decided to stay home, and that’s OK. But I will tell you, I’ve been all over. And I’ve met some of the greatest people I’ll ever meet within these communities. And they are very, very upset with what their politicians have told them and what their politicians have done.

HOLT: Mr. Trump, I…

CLINTON: I think — I think — I think Donald just criticized me for preparing for this debate. And, yes, I did. And you know what else I prepared for? I prepared to be president. And I think that’s a good thing.

(APPLAUSE)

HOLT: Mr. Trump, for five years, you perpetuated a false claim that the nation’s first black president was not a natural-born citizen. You questioned his legitimacy. In the last couple of weeks, you acknowledged what most Americans have accepted for years: The president was born in the United States. Can you tell us what took you so long?

TRUMP: I’ll tell you very — well, just very simple to say. Sidney Blumenthal works for the campaign and close — very close friend of Secretary Clinton. And her campaign manager, Patti Doyle, went to — during the campaign, her campaign against President Obama, fought very hard. And you can go look it up, and you can check it out.

TRUMP: And if you look at CNN this past week, Patti Solis Doyle was on Wolf Blitzer saying that this happened. Blumenthal sent McClatchy, highly respected reporter at McClatchy, to Kenya to find out about it. They were pressing it very hard. She failed to get the birth certificate.

When I got involved, I didn’t fail. I got him to give the birth certificate. So I’m satisfied with it. And I’ll tell you why I’m satisfied with it.

HOLT: That was…

(CROSSTALK)

TRUMP: Because I want to get on to defeating ISIS, because I want to get on to creating jobs, because I want to get on to having a strong border, because I want to get on to things that are very important to me and that are very important to the country.

HOLT: I will let you respond. It’s important. But I just want to get the answer here. The birth certificate was produced in 2011. You’ve continued to tell the story and question the president’s legitimacy in 2012, ’13, ’14, ’15…

TRUMP: Yeah.

HOLT: …. as recently as January. So the question is, what changed your mind?

TRUMP: Well, nobody was pressing it, nobody was caring much about it. I figured you’d ask the question tonight, of course. But nobody was caring much about it. But I was the one that got him to produce the birth certificate. And I think I did a good job.

Secretary Clinton also fought it. I mean, you know — now, everybody in mainstream is going to say, oh, that’s not true. Look, it’s true. Sidney Blumenthal sent a reporter — you just have to take a look at CNN, the last week, the interview with your former campaign manager. And she was involved. But just like she can’t bring back jobs, she can’t produce.

HOLT: I’m sorry. I’m just going to follow up — and I will let you respond to that, because there’s a lot there. But we’re talking about racial healing in this segment. What do you say to Americans, people of color who…

(CROSSTALK)

TRUMP: Well, it was very — I say nothing. I say nothing, because I was able to get him to produce it. He should have produced it a long time before. I say nothing.

But let me just tell you. When you talk about healing, I think that I’ve developed very, very good relationships over the last little while with the African-American community. I think you can see that.

And I feel that they really wanted me to come to that conclusion. And I think I did a great job and a great service not only for the country, but even for the president, in getting him to produce his birth certificate.

HOLT: Secretary Clinton?

CLINTON: Well, just listen to what you heard.

(LAUGHTER)

And clearly, as Donald just admitted, he knew he was going to stand on this debate stage, and Lester Holt was going to be asking us questions, so he tried to put the whole racist birther lie to bed.

But it can’t be dismissed that easily. He has really started his political activity based on this racist lie that our first black president was not an American citizen. There was absolutely no evidence for it, but he persisted, he persisted year after year, because some of his supporters, people that he was trying to bring into his fold, apparently believed it or wanted to believe it.

But, remember, Donald started his career back in 1973 being sued by the Justice Department for racial discrimination because he would not rent apartments in one of his developments to African-Americans, and he made sure that the people who worked for him understood that was the policy. He actually was sued twice by the Justice Department.

So he has a long record of engaging in racist behavior. And the birther lie was a very hurtful one. You know, Barack Obama is a man of great dignity. And I could tell how much it bothered him and annoyed him that this was being touted and used against him.

But I like to remember what Michelle Obama said in her amazing speech at our Democratic National Convention: When they go low, we go high. And Barack Obama went high, despite Donald Trump’s best efforts to bring him down.

HOLT: Mr. Trump, you can respond and we’re going to move on to the next segment.

TRUMP: I would love to respond. First of all, I got to watch in preparing for this some of your debates against Barack Obama. You treated him with terrible disrespect. And I watched the way you talk now about how lovely everything is and how wonderful you are. It doesn’t work that way. You were after him, you were trying to — you even sent out or your campaign sent out pictures of him in a certain garb, very famous pictures. I don’t think you can deny that.

But just last week, your campaign manager said it was true. So when you tried to act holier than thou, it really doesn’t work. It really doesn’t.

Now, as far as the lawsuit, yes, when I was very young, I went into my father’s company, had a real estate company in Brooklyn and Queens, and we, along with many, many other companies throughout the country — it was a federal lawsuit — were sued. We settled the suit with zero — with no admission of guilt. It was very easy to do.

TRUMP: I notice you bring that up a lot. And, you know, I also notice the very nasty commercials that you do on me in so many different ways, which I don’t do on you. Maybe I’m trying to save the money.

But, frankly, I look — I look at that, and I say, isn’t that amazing? Because I settled that lawsuit with no admission of guilt, but that was a lawsuit brought against many real estate firms, and it’s just one of those things.

I’ll go one step further. In Palm Beach, Florida, tough community, a brilliant community, a wealthy community, probably the wealthiest community there is in the world, I opened a club, and really got great credit for it. No discrimination against African- Americans, against Muslims, against anybody. And it’s a tremendously successful club. And I’m so glad I did it. And I have been given great credit for what I did. And I’m very, very proud of it. And that’s the way I feel. That is the true way I feel.

HOLT: Our next segment is called “Securing America.” We want to start with a 21st century war happening every day in this country. Our institutions are under cyber attack, and our secrets are being stolen. So my question is, who’s behind it? And how do we fight it?

Secretary Clinton, this answer goes to you.

CLINTON: Well, I think cyber security, cyber warfare will be one of the biggest challenges facing the next president, because clearly we’re facing at this point two different kinds of adversaries. There are the independent hacking groups that do it mostly for commercial reasons to try to steal information that they can use to make money.

But increasingly, we are seeing cyber attacks coming from states, organs of states. The most recent and troubling of these has been Russia. There’s no doubt now that Russia has used cyber attacks against all kinds of organizations in our country, and I am deeply concerned about this. I know Donald’s very praiseworthy of Vladimir Putin, but Putin is playing a really…

(CROSSTALK)

CLINTON: … tough, long game here. And one of the things he’s done is to let loose cyber attackers to hack into government files, to hack into personal files, hack into the Democratic National Committee. And we recently have learned that, you know, that this is one of their preferred methods of trying to wreak havoc and collect information. We need to make it very clear — whether it’s Russia, China, Iran or anybody else — the United States has much greater capacity. And we are not going to sit idly by and permit state actors to go after our information, our private-sector information or our public-sector information.

And we’re going to have to make it clear that we don’t want to use the kinds of tools that we have. We don’t want to engage in a different kind of warfare. But we will defend the citizens of this country.

And the Russians need to understand that. I think they’ve been treating it as almost a probing, how far would we go, how much would we do. And that’s why I was so — I was so shocked when Donald publicly invited Putin to hack into Americans. That is just unacceptable. It’s one of the reasons why 50 national security officials who served in Republican information — in administrations…

HOLT: Your two minutes have expired.

CLINTON: … have said that Donald is unfit to be the commander- in-chief. It’s comments like that that really worry people who understand the threats that we face.

HOLT: Mr. Trump, you have two minutes and the same question. Who’s behind it? And how do we fight it?

TRUMP: I do want to say that I was just endorsed — and more are coming next week — it will be over 200 admirals, many of them here — admirals and generals endorsed me to lead this country. That just happened, and many more are coming. And I’m very proud of it.

In addition, I was just endorsed by ICE. They’ve never endorsed anybody before on immigration. I was just endorsed by ICE. I was just recently endorsed — 16,500 Border Patrol agents.

So when Secretary Clinton talks about this, I mean, I’ll take the admirals and I’ll take the generals any day over the political hacks that I see that have led our country so brilliantly over the last 10 years with their knowledge. OK? Because look at the mess that we’re in. Look at the mess that we’re in.

As far as the cyber, I agree to parts of what Secretary Clinton said. We should be better than anybody else, and perhaps we’re not. I don’t think anybody knows it was Russia that broke into the DNC. She’s saying Russia, Russia, Russia, but I don’t — maybe it was. I mean, it could be Russia, but it could also be China. It could also be lots of other people. It also could be somebody sitting on their bed that weighs 400 pounds, OK?

TRUMP: You don’t know who broke in to DNC.

But what did we learn with DNC? We learned that Bernie Sanders was taken advantage of by your people, by Debbie Wasserman Schultz. Look what happened to her. But Bernie Sanders was taken advantage of. That’s what we learned.

Now, whether that was Russia, whether that was China, whether it was another country, we don’t know, because the truth is, under President Obama we’ve lost control of things that we used to have control over.

We came in with the Internet, we came up with the Internet, and I think Secretary Clinton and myself would agree very much, when you look at what ISIS is doing with the Internet, they’re beating us at our own game. ISIS.

So we have to get very, very tough on cyber and cyber warfare. It is — it is a huge problem. I have a son. He’s 10 years old. He has computers. He is so good with these computers, it’s unbelievable. The security aspect of cyber is very, very tough. And maybe it’s hardly doable.

But I will say, we are not doing the job we should be doing. But that’s true throughout our whole governmental society. We have so many things that we have to do better, Lester, and certainly cyber is one of them.

HOLT: Secretary Clinton?

CLINTON: Well, I think there are a number of issues that we should be addressing. I have put forth a plan to defeat ISIS. It does involve going after them online. I think we need to do much more with our tech companies to prevent ISIS and their operatives from being able to use the Internet to radicalize, even direct people in our country and Europe and elsewhere.

But we also have to intensify our air strikes against ISIS and eventually support our Arab and Kurdish partners to be able to actually take out ISIS in Raqqa, end their claim of being a Caliphate.

We’re making progress. Our military is assisting in Iraq. And we’re hoping that within the year we’ll be able to push ISIS out of Iraq and then, you know, really squeeze them in Syria.

But we have to be cognizant of the fact that they’ve had foreign fighters coming to volunteer for them, foreign money, foreign weapons, so we have to make this the top priority.

And I would also do everything possible to take out their leadership. I was involved in a number of efforts to take out Al Qaida leadership when I was secretary of state, including, of course, taking out bin Laden. And I think we need to go after Baghdadi, as well, make that one of our organizing principles. Because we’ve got to defeat ISIS, and we’ve got to do everything we can to disrupt their propaganda efforts online.

HOLT: You mention ISIS, and we think of ISIS certainly as over there, but there are American citizens who have been inspired to commit acts of terror on American soil, the latest incident, of course, the bombings we just saw in New York and New Jersey, the knife attack at a mall in Minnesota, in the last year, deadly attacks in San Bernardino and Orlando. I’ll ask this to both of you. Tell us specifically how you would prevent homegrown attacks by American citizens, Mr. Trump?

TRUMP: Well, first I have to say one thing, very important. Secretary Clinton is talking about taking out ISIS. “We will take out ISIS.” Well, President Obama and Secretary Clinton created a vacuum the way they got out of Iraq, because they got out — what, they shouldn’t have been in, but once they got in, the way they got out was a disaster. And ISIS was formed.

So she talks about taking them out. She’s been doing it a long time. She’s been trying to take them out for a long time. But they wouldn’t have even been formed if they left some troops behind, like 10,000 or maybe something more than that. And then you wouldn’t have had them.

Or, as I’ve been saying for a long time, and I think you’ll agree, because I said it to you once, had we taken the oil — and we should have taken the oil — ISIS would not have been able to form either, because the oil was their primary source of income. And now they have the oil all over the place, including the oil — a lot of the oil in Libya, which was another one of her disasters.

HOLT: Secretary Clinton?

CLINTON: Well, I hope the fact-checkers are turning up the volume and really working hard. Donald supported the invasion of Iraq.

TRUMP: Wrong.

CLINTON: That is absolutely proved over and over again.

TRUMP: Wrong. Wrong.

CLINTON: He actually advocated for the actions we took in Libya and urged that Gadhafi be taken out, after actually doing some business with him one time.

CLINTON: But the larger point — and he says this constantly — is George W. Bush made the agreement about when American troops would leave Iraq, not Barack Obama.

And the only way that American troops could have stayed in Iraq is to get an agreement from the then-Iraqi government that would have protected our troops, and the Iraqi government would not give that.

But let’s talk about the question you asked, Lester. The question you asked is, what do we do here in the United States? That’s the most important part of this. How do we prevent attacks? How do we protect our people?

And I think we’ve got to have an intelligence surge, where we are looking for every scrap of information. I was so proud of law enforcement in New York, in Minnesota, in New Jersey. You know, they responded so quickly, so professionally to the attacks that occurred by Rahami. And they brought him down. And we may find out more information because he is still alive, which may prove to be an intelligence benefit.

So we’ve got to do everything we can to vacuum up intelligence from Europe, from the Middle East. That means we’ve got to work more closely with our allies, and that’s something that Donald has been very dismissive of.

We’re working with NATO, the longest military alliance in the history of the world, to really turn our attention to terrorism. We’re working with our friends in the Middle East, many of which, as you know, are Muslim majority nations. Donald has consistently insulted Muslims abroad, Muslims at home, when we need to be cooperating with Muslim nations and with the American Muslim community.

They’re on the front lines. They can provide information to us that we might not get anywhere else. They need to have close working cooperation with law enforcement in these communities, not be alienated and pushed away as some of Donald’s rhetoric, unfortunately, has led to.

HOLT: Mr. Trump…

TRUMP: Well, I have to respond.

HOLT: Please respond.

TRUMP: The secretary said very strongly about working with — we’ve been working with them for many years, and we have the greatest mess anyone’s ever seen. You look at the Middle East, it’s a total mess. Under your direction, to a large extent.

But you look at the Middle East, you started the Iran deal, that’s another beauty where you have a country that was ready to fall, I mean, they were doing so badly. They were choking on the sanctions. And now they’re going to be actually probably a major power at some point pretty soon, the way they’re going.

But when you look at NATO, I was asked on a major show, what do you think of NATO? And you have to understand, I’m a businessperson. I did really well. But I have common sense. And I said, well, I’ll tell you. I haven’t given lots of thought to NATO. But two things.

Number one, the 28 countries of NATO, many of them aren’t paying their fair share. Number two — and that bothers me, because we should be asking — we’re defending them, and they should at least be paying us what they’re supposed to be paying by treaty and contract.

And, number two, I said, and very strongly, NATO could be obsolete, because — and I was very strong on this, and it was actually covered very accurately in the New York Times, which is unusual for the New York Times, to be honest — but I said, they do not focus on terror. And I was very strong. And I said it numerous times.

And about four months ago, I read on the front page of the Wall Street Journal that NATO is opening up a major terror division. And I think that’s great. And I think we should get — because we pay approximately 73 percent of the cost of NATO. It’s a lot of money to protect other people. But I’m all for NATO. But I said they have to focus on terror, also.

And they’re going to do that. And that was — believe me — I’m sure I’m not going to get credit for it — but that was largely because of what I was saying and my criticism of NATO.

I think we have to get NATO to go into the Middle East with us, in addition to surrounding nations, and we have to knock the hell out of ISIS, and we have to do it fast, when ISIS formed in this vacuum created by Barack Obama and Secretary Clinton. And believe me, you were the ones that took out the troops. Not only that, you named the day. They couldn’t believe it. They sat back probably and said, I can’t believe it. They said…

CLINTON: Lester, we’ve covered…

TRUMP: No, wait a minute.

CLINTON: We’ve covered this ground.

TRUMP: When they formed, when they formed, this is something that never should have happened. It should have never happened. Now, you’re talking about taking out ISIS. But you were there, and you were secretary of state when it was a little infant. Now it’s in over 30 countries. And you’re going to stop them? I don’t think so.

HOLT: Mr. Trump, a lot of these are judgment questions. You had supported the war in Iraq before the invasion. What makes your…

TRUMP: I did not support the war in Iraq.

HOLT: In 2002…

TRUMP: That is a mainstream media nonsense put out by her, because she — frankly, I think the best person in her campaign is mainstream media.

HOLT: My question is, since you supported it…

TRUMP: Just — would you like to hear…

HOLT: … why is your — why is your judgment…

TRUMP: Wait a minute. I was against the war in Iraq. Just so you put it out.

HOLT: The record shows otherwise, but why — why was…

TRUMP: The record does not show that.

HOLT: Why was — is your judgment any…

TRUMP: The record shows that I’m right. When I did an interview with Howard Stern, very lightly, first time anyone’s asked me that, I said, very lightly, I don’t know, maybe, who knows? Essentially. I then did an interview with Neil Cavuto. We talked about the economy is more important. I then spoke to Sean Hannity, which everybody refuses to call Sean Hannity. I had numerous conversations with Sean Hannity at Fox. And Sean Hannity said — and he called me the other day — and I spoke to him about it — he said you were totally against the war, because he was for the war.

HOLT: Why is your judgment better than…

TRUMP: And when he — excuse me. And that was before the war started. Sean Hannity said very strongly to me and other people — he’s willing to say it, but nobody wants to call him. I was against the war. He said, you used to have fights with me, because Sean was in favor of the war.

And I understand that side, also, not very much, because we should have never been there. But nobody called Sean Hannity. And then they did an article in a major magazine, shortly after the war started. I think in ’04. But they did an article which had me totally against the war in Iraq.

And one of your compatriots said, you know, whether it was before or right after, Trump was definitely — because if you read this article, there’s no doubt. But if somebody — and I’ll ask the press — if somebody would call up Sean Hannity, this was before the war started. He and I used to have arguments about the war. I said, it’s a terrible and a stupid thing. It’s going to destabilize the Middle East. And that’s exactly what it’s done. It’s been a disaster.

HOLT: My reference was to what you had said in 2002, and my question was…

TRUMP: No, no. You didn’t hear what I said.

HOLT: Why is your judgment — why is your judgment any different than Mrs. Clinton’s judgment?

TRUMP: Well, I have much better judgment than she does. There’s no question about that. I also have a much better temperament than she has, you know?

(LAUGHTER)

I have a much better — she spent — let me tell you — she spent hundreds of millions of dollars on an advertising — you know, they get Madison Avenue into a room, they put names — oh, temperament, let’s go after — I think my strongest asset, maybe by far, is my temperament. I have a winning temperament. I know how to win. She does not have a…

HOLT: Secretary Clinton?

TRUMP: Wait. The AFL-CIO the other day, behind the blue screen, I don’t know who you were talking to, Secretary Clinton, but you were totally out of control. I said, there’s a person with a temperament that’s got a problem.

HOLT: Secretary Clinton?

CLINTON: Whew, OK.

(LAUGHTER)

Let’s talk about two important issues that were briefly mentioned by Donald, first, NATO. You know, NATO as a military alliance has something called Article 5, and basically it says this: An attack on one is an attack on all. And you know the only time it’s ever been invoked? After 9/11, when the 28 nations of NATO said that they would go to Afghanistan with us to fight terrorism, something that they still are doing by our side.

With respect to Iran, when I became secretary of state, Iran was weeks away from having enough nuclear material to form a bomb. They had mastered the nuclear fuel cycle under the Bush administration. They had built covert facilities. They had stocked them with centrifuges that were whirling away.

And we had sanctioned them. I voted for every sanction against Iran when I was in the Senate, but it wasn’t enough. So I spent a year-and-a-half putting together a coalition that included Russia and China to impose the toughest sanctions on Iran.

And we did drive them to the negotiating table. And my successor, John Kerry, and President Obama got a deal that put a lid on Iran’s nuclear program without firing a single shot. That’s diplomacy. That’s coalition-building. That’s working with other nations.

The other day, I saw Donald saying that there were some Iranian sailors on a ship in the waters off of Iran, and they were taunting American sailors who were on a nearby ship. He said, you know, if they taunted our sailors, I’d blow them out of the water and start another war. That’s not good judgment.

TRUMP: That would not start a war.

CLINTON: That is not the right temperament to be commander-in- chief, to be taunted. And the worst part…

TRUMP: No, they were taunting us.

CLINTON: … of what we heard Donald say has been about nuclear weapons. He has said repeatedly that he didn’t care if other nations got nuclear weapons, Japan, South Korea, even Saudi Arabia. It has been the policy of the United States, Democrats and Republicans, to do everything we could to reduce the proliferation of nuclear weapons. He even said, well, you know, if there were nuclear war in East Asia, well, you know, that’s fine…

TRUMP: Wrong.

CLINTON: … have a good time, folks.

TRUMP: It’s lies.

CLINTON: And, in fact, his cavalier attitude about nuclear weapons is so deeply troubling. That is the number-one threat we face in the world. And it becomes particularly threatening if terrorists ever get their hands on any nuclear material.So a man who can be provoked by a tweet should not have his fingers anywhere near the nuclear codes, as far as I think anyone with any sense about this should be concerned.

TRUMP: That line’s getting a little bit old, I must say. I would like to…

CLINTON: It’s a good one, though. It well describes the problem.

(LAUGHTER)

TRUMP: It’s not an accurate one at all. It’s not an accurate one. So I just want to give a lot of things — and just to respond. I agree with her on one thing. The single greatest problem the world has is nuclear armament, nuclear weapons, not global warming, like you think and your — your president thinks.

Nuclear is the single greatest threat. Just to go down the list, we defend Japan, we defend Germany, we defend South Korea, we defend Saudi Arabia, we defend countries. They do not pay us. But they should be paying us, because we are providing tremendous service and we’re losing a fortune. That’s why we’re losing — we’re losing — we lose on everything. I say, who makes these — we lose on everything. All I said, that it’s very possible that if they don’t pay a fair share, because this isn’t 40 years ago where we could do what we’re doing. We can’t defend Japan, a behemoth, selling us cars by the million…

HOLT: We need to move on.

TRUMP: Well, wait, but it’s very important. All I said was, they may have to defend themselves or they have to help us out. We’re a country that owes $20 trillion. They have to help us out.

HOLT: Our last…

TRUMP: As far as the nuclear is concerned, I agree. It is the single greatest threat that this country has.

HOLT: Which leads to my next question, as we enter our last segment here (inaudible) the subject of securing America. On nuclear weapons, President Obama reportedly considered changing the nation’s longstanding policy on first use. Do you support the current policy? Mr. Trump, you have two minutes on that.

TRUMP: Well, I have to say that, you know, for what Secretary Clinton was saying about nuclear with Russia, she’s very cavalier in the way she talks about various countries. But Russia has been expanding their — they have a much newer capability than we do. We have not been updating from the new standpoint.

I looked the other night. I was seeing B-52s, they’re old enough that your father, your grandfather could be flying them. We are not — we are not keeping up with other countries. I would like everybody to end it, just get rid of it. But I would certainly not do first strike.

I think that once the nuclear alternative happens, it’s over. At the same time, we have to be prepared. I can’t take anything off the table. Because you look at some of these countries, you look at North Korea, we’re doing nothing there. China should solve that problem for us. China should go into North Korea. China is totally powerful as it relates to North Korea.

And by the way, another one powerful is the worst deal I think I’ve ever seen negotiated that you started is the Iran deal. Iran is one of their biggest trading partners. Iran has power over North Korea.

And when they made that horrible deal with Iran, they should have included the fact that they do something with respect to North Korea. And they should have done something with respect to Yemen and all these other places.

And when asked to Secretary Kerry, why didn’t you do that? Why didn’t you add other things into the deal? One of the great giveaways of all time, of all time, including $400 million in cash. Nobody’s ever seen that before. That turned out to be wrong. It was actually $1.7 billion in cash, obviously, I guess for the hostages. It certainly looks that way.

So you say to yourself, why didn’t they make the right deal? This is one of the worst deals ever made by any country in history. The deal with Iran will lead to nuclear problems. All they have to do is sit back 10 years, and they don’t have to do much.

HOLT: Your two minutes is expired.

TRUMP: And they’re going to end up getting nuclear. I met with Bibi Netanyahu the other day. Believe me, he’s not a happy camper.

HOLT: All right. Mrs. Clinton, Secretary Clinton, you have two minutes.

CLINTON: Well, let me — let me start by saying, words matter. Words matter when you run for president. And they really matter when you are president. And I want to reassure our allies in Japan and South Korea and elsewhere that we have mutual defense treaties and we will honor them.

It is essential that America’s word be good. And so I know that this campaign has caused some questioning and worries on the part of many leaders across the globe. I’ve talked with a number of them. But I want to — on behalf of myself, and I think on behalf of a majority of the American people, say that, you know, our word is good.

It’s also important that we look at the entire global situation. There’s no doubt that we have other problems with Iran. But personally, I’d rather deal with the other problems having put that lid on their nuclear program than still to be facing that.

And Donald never tells you what he would do. Would he have started a war? Would he have bombed Iran? If he’s going to criticize a deal that has been very successful in giving us access to Iranian facilities that we never had before, then he should tell us what his alternative would be. But it’s like his plan to defeat ISIS. He says it’s a secret plan, but the only secret is that he has no plan.

So we need to be more precise in how we talk about these issues. People around the word follow our presidential campaigns so closely, trying to get hints about what we will do. Can they rely on us? Are we going to lead the world with strength and in accordance with our values? That’s what I intend to do. I intend to be a leader of our country that people can count on, both here at home and around the world, to make decisions that will further peace and prosperity, but also stand up to bullies, whether they’re abroad or at home.

We cannot let those who would try to destabilize the world to interfere with American interests and security…

HOLT: Your two minutes is…

CLINTON: … to be given any opportunities at all.

HOLT: … is expired.

TRUMP: Lester, one thing I’d like to say.

HOLT: Very quickly. Twenty seconds.

TRUMP: I will go very quickly. But I will tell you that Hillary will tell you to go to her website and read all about how to defeat ISIS, which she could have defeated by never having it, you know, get going in the first place. Right now, it’s getting tougher and tougher to defeat them, because they’re in more and more places, more and more states, more and more nations.

HOLT: Mr. Trump…

TRUMP: And it’s a big problem. And as far as Japan is concerned, I want to help all of our allies, but we are losing billions and billions of dollars. We cannot be the policemen of the world. We cannot protect countries all over the world…

HOLT: We have just…

TRUMP: … where they’re not paying us what we need.

HOLT: We have just a few final questions…

TRUMP: And she doesn’t say that, because she’s got no business ability. We need heart. We need a lot of things. But you have to have some basic ability. And sadly, she doesn’t have that. All of the things that she’s talking about could have been taken care of during the last 10 years, let’s say, while she had great power. But they weren’t taken care of. And if she ever wins this race, they won’t be taken care of.

HOLT: Mr. Trump, this year Secretary Clinton became the first woman nominated for president by a major party. Earlier this month, you said she doesn’t have, quote, “a presidential look.” She’s standing here right now. What did you mean by that?

TRUMP: She doesn’t have the look. She doesn’t have the stamina. I said she doesn’t have the stamina. And I don’t believe she does have the stamina. To be president of this country, you need tremendous stamina.

HOLT: The quote was, “I just don’t think she has the presidential look.”

TRUMP: You have — wait a minute. Wait a minute, Lester. You asked me a question. Did you ask me a question?

You have to be able to negotiate our trade deals. You have to be able to negotiate, that’s right, with Japan, with Saudi Arabia. I mean, can you imagine, we’re defending Saudi Arabia? And with all of the money they have, we’re defending them, and they’re not paying? All you have to do is speak to them. Wait. You have so many different things you have to be able to do, and I don’t believe that Hillary has the stamina.

HOLT: Let’s let her respond. CLINTON: Well, as soon as he travels to 112 countries and negotiates a peace deal, a cease-fire, a release of dissidents, an opening of new opportunities in nations around the world, or even spends 11 hours testifying in front of a congressional committee, he can talk to me about stamina.

(APPLAUSE)

TRUMP: The world — let me tell you. Let me tell you. Hillary has experience, but it’s bad experience. We have made so many bad deals during the last — so she’s got experience, that I agree.

(APPLAUSE)

But it’s bad, bad experience. Whether it’s the Iran deal that you’re so in love with, where we gave them $150 billion back, whether it’s the Iran deal, whether it’s anything you can — name — you almost can’t name a good deal. I agree. She’s got experience, but it’s bad experience. And this country can’t afford to have another four years of that kind of experience.

HOLT: We are at — we are at the final question.

(APPLAUSE)

CLINTON: Well, one thing. One thing, Lester.

HOLT: Very quickly, because we’re at the final question now.

CLINTON: You know, he tried to switch from looks to stamina. But this is a man who has called women pigs, slobs and dogs, and someone who has said pregnancy is an inconvenience to employers, who has said…

TRUMP: I never said that.

CLINTON: …. women don’t deserve equal pay unless they do as good a job as men.

TRUMP: I didn’t say that.

CLINTON: And one of the worst things he said was about a woman in a beauty contest. He loves beauty contests, supporting them and hanging around them. And he called this woman “Miss Piggy.” Then he called her “Miss Housekeeping,” because she was Latina. Donald, she has a name.

TRUMP: Where did you find this? Where did you find this?

CLINTON: Her name is Alicia Machado.

TRUMP: Where did you find this?

CLINTON: And she has become a U.S. citizen, and you can bet…

TRUMP: Oh, really? CLINTON: … she’s going to vote this November.

TRUMP: OK, good. Let me just tell you…

(APPLAUSE)

HOLT: Mr. Trump, could we just take 10 seconds and then we ask the final question…

TRUMP: You know, Hillary is hitting me with tremendous commercials. Some of it’s said in entertainment. Some of it’s said — somebody who’s been very vicious to me, Rosie O’Donnell, I said very tough things to her, and I think everybody would agree that she deserves it and nobody feels sorry for her.

But you want to know the truth? I was going to say something…

HOLT: Please very quickly.

TRUMP: … extremely rough to Hillary, to her family, and I said to myself, “I can’t do it. I just can’t do it. It’s inappropriate. It’s not nice.” But she spent hundreds of millions of dollars on negative ads on me, many of which are absolutely untrue. They’re untrue. And they’re misrepresentations.

And I will tell you this, Lester: It’s not nice. And I don’t deserve that.

But it’s certainly not a nice thing that she’s done. It’s hundreds of millions of ads. And the only gratifying thing is, I saw the polls come in today, and with all of that money…

HOLT: We have to move on to the final question.

TRUMP: … $200 million is spent, and I’m either winning or tied, and I’ve spent practically nothing.

(APPLAUSE)

HOLT: One of you will not win this election. So my final question to you tonight, are you willing to accept the outcome as the will of the voters? Secretary Clinton?

CLINTON: Well, I support our democracy. And sometimes you win, sometimes you lose. But I certainly will support the outcome of this election.

And I know Donald’s trying very hard to plant doubts about it, but I hope the people out there understand: This election’s really up to you. It’s not about us so much as it is about you and your families and the kind of country and future you want. So I sure hope you will get out and vote as though your future depended on it, because I think it does.

HOLT: Mr. Trump, very quickly, same question. Will you accept the outcome as the will of the voters? TRUMP: I want to make America great again. We are a nation that is seriously troubled. We’re losing our jobs. People are pouring into our country.

The other day, we were deporting 800 people. And perhaps they passed the wrong button, they pressed the wrong button, or perhaps worse than that, it was corruption, but these people that we were going to deport for good reason ended up becoming citizens. Ended up becoming citizens. And it was 800. And now it turns out it might be 1,800, and they don’t even know.

HOLT: Will you accept the outcome of the election?

TRUMP: Look, here’s the story. I want to make America great again. I’m going to be able to do it. I don’t believe Hillary will. The answer is, if she wins, I will absolutely support her.

(APPLAUSE)

HOLT: All right. Well, that is going to do it for us. That concludes our debate for this evening, a spirit one. We covered a lot of ground, not everything as I suspected we would.

The next presidential debates are scheduled for October 9th at Washington University in St. Louis and October 19th at the University of Nevada Las Vegas. The conversation will continue.

A reminder. The vice presidential debate is scheduled for October 4th at Longwood University in Farmville, Virginia. My thanks to Hillary Clinton and to Donald Trump and to Hofstra University for hosting us tonight. Good night, everyone.

Full Text Campaign Buzz 2016 September 26, 2016: Donald Trump, Hillary Clinton: First Presidential Debate 2016 Hofstra University NY Live Stream

POLITICAL TRANSCRIPTS

2016 PRESIDENTIAL CAMPAIGN:

Donald Trump, Hillary Clinton: First Presidential Debate 2016 Hofstra University in NY

 

First presidential debate: Sept. 26 at Hofstra University, Hempstead, New York. Last 90-minutes without commercial breaks and begins at 9 p.m. ET.

Moderator: NBC’s Nightly News anchor Lester Holt

The main topics will be America’s direction, achieving prosperity and securing America.

Campaign Headlines October 17, 2012: Peter Roff: Mitt Romney Won the Second Presidential Debate

CAMPAIGN 2012

CAMPAIGN BUZZ 2012

THE HEADLINES….

Mitt Romney Won the Second Debate

Source: US News & World Report, 10-17-12
Mitt Romney and Barack Obama debate on Oct. 16, 2012, during the second of three presidential debates at Hofstra University in Hempstead, N.Y.
Having had a night’s sleep to reflect on things, Tuesday night’s debate between President Barack Obama and former Massachusetts Gov. Mitt Romney is starting to feel more like the challenger scored a narrow victory.The instant analysis, which I helped provide as part of the U.S. News & World Report opinion team’s live blogging of the event, lends itself to snap judgments made in the heat of the moment. What matters more is what people remember the next day, even as everything both candidates said and everything both candidates did is analyzed to death.

Certainly, President Obama turned in a much more polished, much more comfortable performance. The format was better suited to him than to Romney, who at times seem uncomfortable fighting for the chance to be heard over both the president and the moderator, CNN’s Candy Crowley. But in looking at what each candidate said, give the points to Romney for this simple reason: Both candidates spent more time talking about what Romney would do or wanted to do or had done than was spent on Obama’s record….READ MORE

Campaign Headlines October 16, 2012: Barack Obama v. Mitt Romney: Mitt Romney’s Quotes from the Second Presidential Debate

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THE HEADLINES….

Mitt Romney: “The President Has Tried, But His Policies Haven’t Worked”

Source: Mitt Romney Press, 10-16-12

“I can tell you that if you were to elect President Obama, you know what you’re going to get. You’re going to get a repeat of the last four years. We just can’t afford four more years like the last four years.” – Mitt Romney

Presidential Debate
Hempstead, NY
October 16, 2012

Click Here To Watch Mitt Romney

MITT ROMNEY: “I think you know better. I think you know that these last four years haven’t been so good as the President just described and that you don’t feel like you’re confident that the next four years are going to be much better either.

“I can tell you that if you were to elect President Obama, you know what you’re going to get. You’re going to get a repeat of the last four years. We just can’t afford four more years like the last four years.

“He said that by now we’d have unemployment at 5.4 percent. The difference between where it is and 5.4 percent is 9 million Americans without work.

“I wasn’t the one that said 5.4 percent. This was the President’s plan. Didn’t get there.

“He said he would have by now put forward a plan to reform Medicare and Social Security, because he pointed out they’re on the road to bankruptcy. He would reform them. He’d get that done. He hasn’t even made a proposal on either one.

“He said in his first year he’d put out an immigration plan that would deal with our immigration challenges. Didn’t even file it.

“This is a president who has not been able to do what he said he’d do. He said that he’d cut in half the deficit. He hasn’t done that either. In fact, he doubled it. He said that by now middle-income families would have a reduction in their health insurance premiums by $2,500 a year. It’s gone up by $2,500 a year. And if Obamacare is passed, or implemented — it’s already been passed — if it’s implemented fully, it’ll be another $2,500 on top.

“The middle class is getting crushed under the policies of a president who has not understood what it takes to get the economy working again. He keeps saying, ‘Look, I’ve created 5 million jobs.’ That’s after losing 5 million jobs. The entire record is such that the unemployment has not been reduced in this country. The unemployment, the number of people who are still looking for work, is still 23 million Americans.

“There are more people in poverty, one out of six people in poverty.

“How about food stamps? When he took office, 32 million people were on food stamps. Today, 47 million people are on food stamps. How about the growth of the economy? It’s growing more slowly this year than last year, and more slowly last year than the year before.

“The President wants to do well. I understand. But the policies he’s put in place from Obamacare to Dodd-Frank to his tax policies to his regulatory policies, these policies combined have not let this economy take off and grow like it could have.

“You might say, ‘Well, you got an example of one that worked better?’ Yeah, in the Reagan recession where unemployment hit 10.8 percent, between that period — the end of that recession and the equivalent period of time to today, Ronald Reagan’s recovery created twice as many jobs as this president’s recovery. Five million jobs doesn’t even keep up with our population growth. And the only reason the unemployment rate seems a little lower today is because of all the people that have dropped out of the workforce.

“The President has tried, but his policies haven’t worked. He’s great as a speaker and describing his plans and his vision. That’s wonderful, except we have a record to look at. And that record shows he just hasn’t been able to cut the deficit, to put in place reforms for Medicare and Social Security to preserve them, to get us the rising incomes we need. Median income is down $4,300 a family and 23 million Americans out of work. That’s what this election is about. It’s about who can get the middle class in this country a bright and prosperous future and assure our kids the kind of hope and optimism they deserve.”

Campaign Buzz October 16, 2012: Barack Obama v. Mitt Romney: Who Won? Draw in Second Presidential Debate

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THE HEADLINES….

IN FOCUS: SECOND PRESIDENTIAL DEBATE

Barack Obama and Mitt Romney are shown. | AP Photo

‘Gov. Romney doesn’t have a five-point plan; he has a one-point plan,’ Obama said. | AP Photo

Mitt Romney, left, addresses President Barack Obama during the second presidential debate at Hofstra University. | AP Photo

Romney has closed on Obama in swing-state polling in recent days. | AP Photo

STATS

IN THE NEWS

Rivals Bring Bare Fists to Rematch

Source: NYT, 10-17-12

Doug Mills/The New York Times

Mitt Romney and President Obama during the debate, their second, Tuesday night at Hofstra University in Hempstead, N.Y. More Photos »

President Obama and Mitt Romney engaged Tuesday in one of the most intensive clashes in a televised presidential debate, with tensions between them spilling out in interruptions, personal rebukes and accusations of lying as they parried over the last four years under Mr. Obama and what the next four would look like under a President Romney.

Competing for a shrinking sliver of undecided voters, many of them women, their engagements at times bordered on physical as they circled each other or bounded out of their seats while the other was speaking, at times more intent to argue than to address the questions over jobs, taxes, energy, immigration and a range of other issues….READ MORE

Obama and Romney Get Fired Up in Heated Second Debate

Source: ABC News Radio, 10-16-12

Circling each other like boxers at times and looking one another in the eye, President Obama and Mitt Romney came out swinging as soon as Monday night’s debate began, sparring over Libya, energy production, and an assault weapons ban.

At one point during a particularly heated exchange, Romney snapped when Obama tried to interrupt, “I’m still speaking.”

An another point, Obama said Romney’s insinuation that his administration played politics with the deaths of four Americans in Libya was “offensive.”

Obama, whose performance at the first debate two weeks ago was roundly considered to be lackluster, tried to make up lost ground Monday night….READ MORE

Obama goes on attack against Romney in debate rematch

Source: Reuters, 10-16-12

President Barack Obama and Republican rival Mitt Romney clashed repeatedly on jobs, energy and Libya in their second debate on Tuesday, with Obama moving aggressively to challenge his opponent.

Obama was much sharper and more energetic than in their first encounter two weeks ago, when his listless performance was heavily criticized and gave Romney’s campaign a much-needed boost….READ MORE

Presidential debate 2012: Fight night on Long Island

Source: Politico, 10-16-12

Barack Obama and Mitt Romney confronted each other almost face to face on the debate stage here at Hofstra University Tuesday, as the president delivered an aggressive, prosecutorial critique of his Republican challenger for the first time in the 2012 debate season.

In one of the most combative presidential debates in recent memory, the two nominees circled each other in the town hall-style format, frequently interrupting each other and squabbling over the rules of engagement. “I want to make sure our timekeepers are working here,” Obama complained at one point, while Romney protested to an interjecting Obama: “You’ll get your chance in a second.” CNN anchor Candy Crowley, who moderated the debate, was at times powerless to keep the two candidates at more than arm’s length….READ MORE

QUOTES

FORMER MASSACHUSETTS GOVERNOR MITT ROMNEY

Answering question on women paid less than men:

“What we can do to help young women and women of all ages is to have a strong economy, so strong that employers that are looking to find good employees are bringing them into their workforce and adapting to a flexible work schedule that gives women opportunities that they would otherwise not be able to afford.”

On Obama’s record:

“The president has tried, but his policies haven’t worked. He’s great as a speaker and at describing his plans and his vision. That’s wonderful, except we have a record to look at and that record shows that he just hasn’t been able to cut the deficit, to put in place reforms for Medicare and Social Security to preserve them, to get us the rising incomes we need.”

On his own job plan:

“I want to make small businesses grow and thrive. I know how to make that happen. I spent my life in the private sector. I know why jobs come and why they go. And they’re going now because of the policies of this administration.”

On comparisons to President George W. Bush:

“President Bush and I are different people and these are different times. And that’s why my five-point plan is so different from what he would have done.”

On energy:

“I want to make sure we use our oil, our coal, our gas, our nuclear, our renewables… But what we don’t need is to have the president keeping us from taking advantage of oil, coal and gas. This has not been Mr Oil, or Mr Gas, or Mr Coal.”

On taxes:

“I will not under any circumstances reduce the share that’s being paid by the highest-income paying taxpayers and I will not under any circumstance increase taxes on the middle class. The president’s spending, the president’s borrowing will cause this nation to have to raise taxes on the American people, and not just at the high end.”

On unemployment:

“We have fewer people working today than we had when the president took office… We have not made the progress we need to make to put people back to work.”

On employment after college:

“The key thing is to make sure you’ve got a job when you get out of school. And what’s happened over the last four years has been very, very hard for America’s young people… Half of college kids graduating this year without a job, without a college level job, that’s just unacceptable…. When you come out in 2014, I presume I’m going to be president. I’m going to make sure you get a job.”

PRESIDENT BARACK OBAMA

On his response to Libya:

“Not everybody agrees with some of the decisions I’ve made, but when it comes to our national security I mean what I say… When I say that we’re going to find out exactly what happened, everybody will be held accountable and I am ultimately responsible for what’s taking place there, because these are my folks and I’m the one who has to greet those coffins when they come home – you know I mean what I say.

On Romney’s responses to Libya attack:

“While we were still dealing with our diplomats still being threatened, Governor Romney put out a press release, trying to make political points. And that’s not how a commander-in-chief operates. You don’t turn national security into a political issue, certainly not right when it’s happening.”

On women’s issues:

“These are not just women’s issues. These are family issues. These are economic issues… That’s been one of the hallmarks of my administration. I’m going to continue to push on this issue for the next four years.”

On Romney’s tax plan:

“What he says is he’s going to make sure that this doesn’t add to the deficit and he’s going to cut middle-class taxes. But when he’s asked, ‘how are you going to do it, which deductions, which loopholes are you going to close?’ he can’t tell you… We haven’t heard from the governor any specifics beyond Big Bird

and eliminating funding for Planned Parenthood in terms of how he pays for that.”

Answering why Americans should vote for him again:

“The commitments I’ve made, I’ve kept. And those that I haven’t been able to keep, it’s not for a lack of trying and we’re going to get it done in the second term.”

On Romney’s promise to crack down on China:

“When he talks about getting tough on China, keep in mind that Governor Romney invested in companies that were pioneers of outsourcing to China… Governor, you’re the last person to get tough on China.”

On energy:

“When I hear Governor Romney say he’s a big coal guy, I mean, keep in mind, Governor, when you were governor of Massachusetts, you stood in front of a coal plant and pointed at it and said, ‘This plant kills,’ and took great pride in shutting it down. And now suddenly, you’re a big champion of coal.”

On lower gas prices when he took office:

“The economy was on the verge of collapse because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney now promotes. So it’s conceivable that Governor Romney could bring down the gas prices, because with his policies we might be back in that same mess.”

On Romney’s energy plan:

“He’s got the oil and gas part, but he doesn’t have the clean energy part. And if we’re only thinking about tomorrow and the next day and not thinking about ten years from now, we’re not going to control our economic future. Because China, Germany, they’re making these investments, and I’m not going to cede those jobs in the future to those counties.”

On Romney’s economic plan:

“Governor Romney says he’s got a five-point plan. Governor Romney doesn’t have a five-point plan, he has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules. That’s been his philosophy in the private sector, that’s been his philosophy as a governor and that’s been his philosophy as a presidential candidate.”

HISTORIANS & ANALYSTS COMMENTS

Dr. Paul A. Rahe, professor of history, Hillsdale College, Michigan:

Source: One News Now, 10-17-12

“It seems to me that when you have a draw between a president of the United States and a challenger, the challenger wins; and when you have a president of the United States whose policies have obviously failed, that he’s trying to sell you a bill of goods for the future, he’s at a real disadvantage in the debate. So I think Romney did well enough that he will build upon what he achieved in the first debate when he throttled Obama…. You know, if you leave aside the Libya business where Candy Crowley sided with Obama and told an untruth – it’s as simple as that about what went on in the Rose Garden that day. What Obama said was that it was an act of senseless violence, not that it was a terrorist act. Now, an act of senseless violence is consistent with the line that they were peddling – that this was just a demonstration and a reaction to the movie.”

Michael Beschloss, presidential historian:

Source: PBS Newshour, 10-16-12

1984, Ronald Reagan as president was debating Walter Mondale, famously, bad for him, turned in a performance that thought that — many thought that President Reagan had lost it. He just wasn’t with the intensity that he had had before. People wondered whether he was up for a second term, a lot of the same things that were said about Barack Obama.

The thing is Reagan in the second debate, after the first one had caused him in some polls to be actually tied with Walter Mondale, reversed the damage, swept it away.

So I think — with this performance tonight, I think Barack Obama may very well do the same thing….

You know, this is the sixth town meeting debate. And the idea of this in the first place when it was started in 1992 was that it’s one way of making sure that at least you have got one debate where they’re kindly to each other because they’re not going to confront each other.

This was the iciest town meeting debate of all six. I used to think that 2000 between George W. Bush and Al Gore was an uncomfortable evening. Compared to this one, that was Valentine’s Day….

Well, and the other thing is that, in terms of degree of difficulty, it’s almost always harder for an incumbent president running for reelection because he’s got to defend the record. He’s done all sorts of things for four years.

The challenger can always say, I will do this and that, I will do better. It sounds better. So I think by that standard also, Barack Obama did very well tonight…..

But what he didn’t do is what we have seen with other incumbent presidents, which is they’re very heavy on rebutting what the challenger says, very light in terms of saying what they would do in the second term, Ronald Reagan especially.

Campaign Headlines October 16, 2012: Barack Obama v. Mitt Romney: 10 best Presidential debate lines from Romney, Obama

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THE HEADLINES….

10 best debate lines from Romney, Obama

Source: Politico, 10-16-12

Barack Obama and Mitt Romney are shown. | AP Photo

‘Gov. Romney doesn’t have a five-point plan; he has a one-point plan,’ Obama said. | AP Photo

GOP presidential nominee Mitt Romney went head-to-head with President Barack Obama at Hofstra University in Hempstead, N.Y., on Tuesday for the second, town hall–style presidential debate. Here are some of their most memorable lines:

ROMNEY:

1. “When do you graduate? 2014. When you come out in 2014, I presume I’m going to be president. I’m going to make sure you get a job.

2. “When we’re talking about math that doesn’t add up, how about $5 trillion of deficits over the last four years. That’s math that doesn’t add up.”

3. “We took a concerted effort to go out and find women who had backgrounds that could be qualified to become members of our cabinet. I went to a number of women’s groups and said, ‘Can you help us find folks.’ And they brought us whole binders full of women.”

4. “You shouldn’t have to hire a lawyer to figure out how to get into this country legally.”

5. “The president took Detroit bankrupt. You took General Motors bankrupt. You took Chrysler bankrupt. So when you say that I wanted to take the auto industry bankrupt, you actually did. And I think it’s important to know that was a process that was necessary to get those companies back on their feet so they could start hiring more people.”

OBAMA:

1. “Gov. Romney doesn’t have a five-point plan; he has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules.”

2. “When he said behind closed doors that 47 percent of the country considers themselves victims who refuse personal responsibility, think about who he was talking about: folks on social security who have worked all their lives; veterans, who sacrificed for this country; students, who are out there trying to hopefully advance their own dreams but also this country’s dreams; soldiers, who are overseas fighting for us right now; people who are working hard every day.”

3. “We haven’t heard from the governor any specifics beyond Big Bird and eliminating funding for Planned Parenthood in terms of how he pays for that.”

4. “I don’t look at my pension. It’s not as big as yours, so it doesn’t take as long.”

5. “Gov. Romney was a very successful investor. If somebody came to you, governor, with a plan that said, ‘Here, I want to spend $7 or $8 trillion and we’re going to pay for it but we can’t tell you until maybe after the election how we’re going to do it.’ You wouldn’t have taken such a sketchy deal and neither would you, the American people.”

Campaign Headlines October 16, 2012: Barack Obama v. Mitt Romney: CNN Poll: Who won the second Presidential debate? Obama 46%- Romney 39%

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THE HEADLINES….

Poll: Who won the debate? Obama 46%- Romney 39%

Source: CNN, 10-16-12

CNN Confirms CBS Poll: 58-40% in Romney’s favor on Economy; 49-46 Romney on health care; 51-44 Romney on taxes; 59-36 Romney on Deficit

On the Trail

Confrontations define second debate

Obama, Romney clash over energy

More Political news

Campaign Headlines October 16, 2012: Barack Obama v. Mitt Romney: CBS News Poll: Obama edges Romney to win second presidential debate

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THE HEADLINES….

Poll: Obama edges Romney in second presidential debate

Source: CBS News, 10-16-12

In a CBS News Instant Poll of uncommitted voters, 37 percent say President Obama won the second presidential debate, 30 percent say Romney won, and 33 percent called it a tie.

Full Text Campaign Buzz October 16, 2012: Barack Obama v. Mitt Romney: Townhall Second Presidential Debate at Hofstra University in Hempstead, New York Transcript

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THE HEADLINES….

Second Presidential Debate Full Transcript

Source: Politico, 10-16-12

Transcript of the Oct. 16, 2012, presidential debate between President Barack Obama and Republican nominee Mitt Romney in Hempstead, N.Y., as prepared by the Commission on Presidential Debates with permission to re-publish.

PRESIDENT BARACK OBAMA AND FORMER GOV. MITT ROMNEY
PARTICIPATE IN A CANDIDATES DEBATE, HOFSTRA UNIVERSITY,
HEMPSTEAD, NEW YORK

OCTOBER 16, 2012

SPEAKERS: FORMER GOV. MITT ROMNEY, R-MASS.

PRESIDENT BARACK OBAMA

CANDY CROWLEY, MODERATOR

[*]
CROWLEY: Good evening from Hofstra University in Hempstead, New York. I’m Candy Crowley from CNN’s “State of the Union.” We are here for the second presidential debate, a town hall, sponsored by the Commission on Presidential Debates.

CROWLEY: The Gallup organization chose 82 uncommitted voters from the New York area. Their questions will drive the night. My goal is to give the conversation direction and to ensure questions get answered.

The questions are known to me and my team only. Neither the commission, nor the candidates have seen them. I hope to get to as many questions as possible.

CROWLEY: And because I am the optimistic sort, I’m sure the candidates will oblige by keeping their answers concise and on point.

Each candidate has as much as two minutes to respond to a common question, and there will be a two-minute follow-up. The audience here in the hall has agreed to be polite and attentive — no cheering or booing or outbursts of any sort.

We will set aside that agreement just this once to welcome President Barack Obama and Governor Mitt Romney.

(APPLAUSE)

Gentlemen, thank you both for joining us here tonight. We have a lot of folks who’ve been waiting all day to talk to you, so I want to get right to it.

Governor Romney, as you know, you won the coin toss, so the first question will go to you. And I want to turn to a first-time voter, Jeremy Epstein, who has a question for you.

QUESTION: Mr. President, Governor Romney, as a 20-year-old college student, all I hear from professors, neighbors and others is that when I graduate, I will have little chance to get employment. What can you say to reassure me, but more importantly my parents, that I will be able to sufficiently support myself after I graduate?

ROMNEY: Thank you, Jeremy. I appreciate your — your question, and thank you for being here this evening and to all of those from Nassau County that have come, thank you for your time. Thank you to Hofstra University and to Candy Crowley for organizing and leading this — this event.

Thank you, Mr. President, also for being part of this — this debate.

Your question — your question is one that’s being asked by college kids all over this country. I was in Pennsylvania with someone who had just graduated — this was in Philadelphia — and she said, “I’ve got my degree. I can’t find a job. I’ve got three part- time jobs. They’re just barely enough to pay for my food and pay for an apartment. I can’t begin to pay back my student loans.”

So what we have to do is two things. We have to make sure that we make it easier for kids to afford college.

ROMNEY: And also make sure that when they get out of college, there’s a job. When I was governor of Massachusetts, to get a high school degree, you had to pass an exam. If you graduated in the top quarter of your airlines, we gave you a John and Abigail Adams scholarship, four years tuition free in the college of your choice in Massachusetts, it’s a public institution.

I want to make sure we keep our Pell grant program growing. We’re also going to have our loan program, so that people are able to afford school. But the key thing is to make sure you can get a job when you get out of school. And what’s happened over the last four years has been very, very hard for America’s young people. I want you to be able to get a job.

I know what it takes to get this economy going. With half of college kids graduating this year without a college — excuse me, without a job. And without a college level job, that’s just unacceptable.

And likewise you’ve got more and more debt on your back. So more debt and less jobs. I’m going to change that. I know what it takes to create good jobs again. I know what it takes to make sure that you have the kind of opportunity you deserve. And kids across this country are going to recognize, we’re bringing back an economy.

It’s not going to be like the last four years. The middle-class has been crushed over the last four years, and jobs have been too scarce. I know what it takes to bring them back, and I’m going to do that, and make sure that when you graduate — when do you graduate?

QUESTION: 2014.

ROMNEY: 2014. When you come out in 2014, I presume I’m going to be president. I’m going to make sure you get a job. Thanks Jeremy. Yeah, you bet.

CROWLEY: Mr. President?

OBAMA: Jeremy, first of all, your future is bright. And the fact that you’re making an investment in higher education is critical. Not just to you, but to the entire nation. Now, the most important thing we can do is to make sure that we are creating jobs in this country. But not just jobs, good paying jobs. Ones that can support a family.

OBAMA: And what I want to do, is build on the five million jobs that we’ve created over the last 30 months in the private sector alone. And there are a bunch of things we can do to make sure your future is bright.

Number one, I want to build manufacturing jobs in this country again. Now when Governor Romney said we should let Detroit go bankrupt. I said we’re going to bet on American workers and the American auto industry and it’s come surging back.

I want to do that in industries, not just in Detroit, but all across the country and that means we change our tax code so we’re giving incentives to companies that are investing here in the United States and creating jobs here.

It also means we’re helping them and small businesses to export all around the world to new markets.

Number two, we’ve got to make sure that we have the best education system in the world. And the fact that you’re going to college is great, but I want everybody to get a great education and we’ve worked hard to make sure that student loans are available for folks like you, but I also want to make sure that community colleges are offering slots for workers to get retrained for the jobs that are out there right now and the jobs of the future.

Number three, we’ve got to control our own energy. Now, not only oil and natural gas, which we’ve been investing in; but also, we’ve got to make sure we’re building the energy source of the future, not just thinking about next year, but ten years from now, 20 years from now. That’s why we’ve invested in solar and wind and biofuels, energy efficient cars.

We’ve got to reduce our deficit, but we’ve got to do it in a balanced way. Asking the wealthy to pay a little bit more along with cuts so that we can invest in education like yours.

And let’s take the money that we’ve been spending on war over the last decade to rebuild America, roads, bridges schools. We do those things, not only is your future going to be bright but America’s future is going to bright as well.

CROWLEY: Let me ask you for more immediate answer and begin with Mr. Romney just quickly what — what can you do? We’re looking at a situation where 40 percent of the unemployed have been unemployed have been unemployed for six months or more. They don’t have the two years that Jeremy has.

What about those long term unemployed who need a job right now?

ROMNEY: Well what you’re seeing in this country is 23 million people struggling to find a job. And a lot of them, as you say, Candy, have been out of work for a long, long, long time. The president’s policies have been exercised over the last four years and they haven’t put Americans back to work.

We have fewer people working today than we had when the president took office. If the — the unemployment rate was 7.8 percent when he took office, it’s 7.8 percent now. But if you calculated that unemployment rate, taking back the people who dropped out of the workforce, it would be 10.7 percent.

We have not made the progress we need to make to put people back to work. That’s why I put out a five-point plan that gets America 12 million new jobs in four years and rising take-home pay. It’s going to help Jeremy get a job when he comes out of school. It’s going to help people across the country that are unemployed right now.

And one thing that the president said, which I want to make sure that we understand, he said that I said we should take Detroit bankrupt. And that’s right. My plan was to have the company go through bankruptcy like 7-Eleven did and Macy’s and Condell (ph) Airlines and come out stronger.

And I know he keeps saying, you want to take Detroit bankrupt. Well, the president took Detroit bankrupt. You took General Motors bankrupt. You took Chrysler bankrupt. So when you say that I wanted to take the auto industry bankrupt, you actually did.

And I think it’s important to know that that was a process that was necessary to get those companies back on their feet, so they could start hiring more people. That was precisely what I recommended and ultimately what happened.

CROWLEY: Let me give the president a chance.

Go ahead. OBAMA: Candy, what Governor Romney said just isn’t true. He wanted to take them into bankruptcy without providing them any way to stay open. And we would have lost a million jobs. And that — don’t take my word for it, take the executives at GM and Chrysler, some of whom are Republicans, may even support Governor Romney. But they’ll tell you his prescription wasn’t going to work.

And Governor Romney’s says he’s got a five-point plan? Governor Romney doesn’t have a five-point plan. He has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules. That’s been his philosophy in the private sector, that’s been his philosophy as governor, that’s been his philosophy as a presidential candidate.

You can make a lot of money and pay lower tax rates than somebody who makes a lot less. You can ship jobs overseas and get tax breaks for it. You can invest in a company, bankrupt it, lay off the workers, strip away their pensions, and you still make money.

That’s exactly the philosophy that we’ve seen in place for the last decade. That’s what’s been squeezing middle class families.

And we have fought back for four years to get out of that mess. The last thing we need to do is to go back to the very same policies that got us there.

CROWLEY: Mr. President, the next question is going to be for you here.

And, Mr. Romney — Governor Romney — there’ll be plenty of chances here to go on, but I want to…

ROMNEY: That — that Detroit — that Detroit answer…

CROWLEY: We have all these folks.

ROMNEY: … that Detroit answer…

CROWLEY: I will let you absolutely…

ROMNEY: … and the rest of the answer, way off the mark.

CROWLEY: OK. Will — will — you certainly will have lots of time here coming up.

Because I want to move you on to something that’s sort of connected to cars here, and — and go over. And we want to get a question from Phillip Tricolla.

QUESTION: Your energy secretary, Steven Chu, has now been on record three times stating it’s not policy of his department to help lower gas prices. Do you agree with Secretary Chu that this is not the job of the Energy Department?

OBAMA: The most important thing we can do is to make sure we control our own energy. So here’s what I’ve done since I’ve been president. We have increased oil production to the highest levels in 16 years.

Natural gas production is the highest it’s been in decades. We have seen increases in coal production and coal employment. But what I’ve also said is we can’t just produce traditional source of energy. We’ve also got to look to the future. That’s why we doubled fuel efficiency standards on cars. That means that in the middle of the next decade, any car you buy, you’re going to end up going twice as far on a gallon of gas. That’s why we doubled clean — clean energy production like wind and solar and biofuels.

And all these things have contributed to us lowering our oil imports to the lowest levels in 16 years. Now, I want to build on that. And that means, yes, we still continue to open up new areas for drilling. We continue to make it a priority for us to go after natural gas. We’ve got potentially 600,000 jobs and 100 years worth of energy right beneath our feet with natural gas.

And we can do it in an environmentally sound way. But we’ve also got to continue to figure out how we have efficiency energy, because ultimately that’s how we’re going to reduce demand and that’s what’s going to keep gas prices lower.

Now, Governor Romney will say he’s got an all-of-the-above plan, but basically his plan is to let the oil companies write the energy policies. So he’s got the oil and gas part, but he doesn’t have the clean energy part. And if we are only thinking about tomorrow or the next day and not thinking about 10 years from now, we’re not going to control our own economic future. Because China, Germany, they’re making these investments. And I’m not going to cede those jobs of the future to those countries. I expect those new energy sources to be built right here in the United States.

That’s going to help Jeremy get a job. It’s also going to make sure that you’re not paying as much for gas.

CROWLEY: Governor, on the subject of gas prices?

ROMNEY: Well, let’s look at the president’s policies, all right, as opposed to the rhetoric, because we’ve had four years of policies being played out. And the president’s right in terms of the additional oil production, but none of it came on federal land. As a matter of fact, oil production is down 14 percent this year on federal land, and gas production was down 9 percent. Why? Because the president cut in half the number of licenses and permits for drilling on federal lands, and in federal waters.

So where’d the increase come from? Well a lot of it came from the Bakken Range in North Dakota. What was his participation there? The administration brought a criminal action against the people drilling up there for oil, this massive new resource we have. And what was the cost? 20 or 25 birds were killed and brought out a migratory bird act to go after them on a criminal basis.

Look, I want to make sure we use our oil, our coal, our gas, our nuclear, our renewables. I believe very much in our renewable capabilities; ethanol, wind, solar will be an important part of our energy mix.

But what we don’t need is to have the president keeping us from taking advantage of oil, coal and gas. This has not been Mr. Oil, or Mr. Gas, or Mr. Coal. Talk to the people that are working in those industries. I was in coal country. People grabbed my arms and said, “Please save my job.” The head of the EPA said, “You can’t build a coal plant. You’ll virtually — it’s virtually impossible given our regulations.” When the president ran for office, he said if you build a coal plant, you can go ahead, but you’ll go bankrupt. That’s not the right course for America.

Let’s take advantage of the energy resources we have, as well as the energy sources for the future. And if we do that, if we do what I’m planning on doing, which is getting us energy independent, North America energy independence within eight years, you’re going to see manufacturing jobs come back. Because our energy is low cost, that are already beginning to come back because of our abundant energy. I’ll get America and North America energy independent. I’ll do it by more drilling, more permits and licenses.

We’re going to bring that pipeline in from Canada. How in the world the president said no to that pipeline? I will never know.

This is about bringing good jobs back for the middle class of America, and that’s what I’m going to do. CROWLEY: Mr. President, let me just see if I can move you to the gist of this question, which is, are we looking at the new normal? I can tell you that tomorrow morning, a lot of people in Hempstead will wake up and fill up and they will find that the price of gas is over $4 a gallon.

Is it within the purview of the government to bring those prices down, or are we looking at the new normal?

OBAMA: Candy, there’s no doubt that world demand’s gone up, but our production is going up, and we’re using oil more efficiently. And very little of what Governor Romney just said is true. We’ve opened up public lands. We’re actually drilling more on public lands than in the previous administration and my — the previous president was an oil man.

And natural gas isn’t just appearing magically. We’re encouraging it and working with the industry.

And when I hear Governor Romney say he’s a big coal guy, I mean, keep in mind, when — Governor, when you were governor of Massachusetts, you stood in front of a coal plant and pointed at it and said, “This plant kills,” and took great pride in shutting it down. And now suddenly you’re a big champion of coal.

So what I’ve tried to do is be consistent. With respect to something like coal, we made the largest investment in clean coal technology, to make sure that even as we’re producing more coal, we’re producing it cleaner and smarter. Same thing with oil, same thing with natural gas.

And the proof is our oil imports are down to the lowest levels in 20 years. Oil production is up, natural gas production is up, and, most importantly, we’re also starting to build cars that are more efficient.

And that’s creating jobs. That means those cars can be exported, ’cause that’s the demand around the world, and it also means that it’ll save money in your pocketbook.

OBAMA: That’s the strategy you need, an all-of-the-above strategy, and that’s what we’re going to do in the next four years.

ROMNEY: But that’s not what you’ve done in the last four years. That’s the problem. In the last four years, you cut permits and licenses on federal land and federal waters in half.

OBAMA: Not true, Governor Romney.

ROMNEY: So how much did you cut (inaudible)?

OBAMA: Not true.

ROMNEY: How much did you cut them by, then?

OBAMA: Governor, we have actually produced more oil —

ROMNEY: No, no. How much did you cut licenses and permits on federal land and federal waters?

OBAMA: Governor Romney, here’s what we did. There were a whole bunch of oil companies.

(CROSSTALK)

ROMNEY: No, no, I had a question and the question was how much did you cut them by?

OBAMA: You want me to answer a question —

ROMNEY: How much did you cut them by?

OBAMA: I’m happy to answer the question.

ROMNEY: All right. And it is —

OBAMA: Here’s what happened. You had a whole bunch of oil companies who had leases on public lands that they weren’t using. So what we said was you can’t just sit on this for 10, 20, 30 years, decide when you want to drill, when you want to produce, when it’s most profitable for you. These are public lands. So if you want to drill on public lands, you use it or you lose it.

ROMNEY: OK, (inaudible) —

OBAMA: And so what we did was take away those leases. And we are now reletting them so that we can actually make a profit.

ROMNEY: And production on private — on government land —

OBAMA: Production is up.

ROMNEY: — is down.

OBAMA: No, it isn’t.

ROMNEY: Production on government land of oil is down 14 percent.

OBAMA: Governor —

ROMNEY: And production on gas —

(CROSSTALK)

OBAMA: It’s just not true.

ROMNEY: It’s absolutely true. Look, there’s no question but the people recognize that we have not produced more (inaudible) on federal lands and in federal waters. And coal, coal production is not up; coal jobs are not up.

I was just at a coal facility, where some 1,200 people lost their jobs. The right course for America is to have a true all-of-the-above policy. I don’t think anyone really believes that you’re a person who’s going to be pushing for oil and gas and coal. You’ll get your chance in a moment. I’m still speaking.

OBAMA: Well —

ROMNEY: And the answer is I don’t believe people think that’s the case —

OBAMA: — (inaudible).

ROMNEY: That wasn’t the question.

OBAMA: OK.

ROMNEY: That was a statement. I don’t think the American people believe that. I will fight for oil, coal and natural gas. And the proof, the proof of whether a strategy is working or not is what the price is that you’re paying at the pump. If you’re paying less than you paid a year or two ago, why, then, the strategy is working. But you’re paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it’s $4.00 a gallon. The price of electricity is up.

If the president’s energy policies are working, you’re going to see the cost of energy come down. I will fight to create more energy in this country, to get America energy secure. And part of that is bringing in a pipeline of oil from Canada, taking advantage of the oil and coal we have here, drilling offshore in Alaska, drilling offshore in Virginia where the people want it. Those things will get us the energy we need.

CROWLEY: Mr. President, could you address, because we did finally get to gas prices here, could you address what the governor said, which is if your energy policy was working, the price of gasoline would not be $4 a gallon here. Is that true?

OBAMA: Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney’s now promoting.

So, it’s conceivable that Governor Romney could bring down gas prices because with his policies, we might be back in that same mess.

What I want to do is to create an economy that is strong, and at the same time produce energy. And with respect to this pipeline that Governor Romney keeps on talking about, we’ve — we’ve built enough pipeline to wrap around the entire earth once.

So, I’m all for pipelines. I’m all for oil production. What I’m not for is us ignoring the other half of the equation. So, for example, on wind energy, when Governor Romney says “these are imaginary jobs.” When you’ve got thousands of people right now in Iowa, right now in Colorado, who are working, creating wind power with good-paying manufacturing jobs, and the Republican senator in that — in Iowa is all for it, providing tax breaks (ph) to help this work and Governor Romney says I’m opposed. I’d get rid of it.

That’s not an energy strategy for the future. And we need to win that future. And I intend to win it as President of the United States.

CROWLEY: I got to — I got to move you on —

ROMNEY: He gets the first —

CROWLEY: — and the next question —

ROMNEY: He actually got —

CROWLEY: — for you —

ROMNEY: He actually got the first question. So I get the last question — last answer —

CROWLEY: (Inaudible) in the follow up, it doesn’t quite work like that. But I’m going to give you a chance here. I promise you, I’m going to.

And the next question is for you. So if you want to, you know, continue on — but I don’t want to leave all —

ROMNEY: Candy, Candy —

CROWLEY: — sitting here —

ROMNEY: Candy, I don’t have a policy of stopping wind jobs in Iowa and that — they’re not phantom jobs. They’re real jobs.

CROWLEY: OK.

ROMNEY: I appreciate wind jobs in Iowa and across our country. I appreciate the jobs in coal and oil and gas. I’m going to make sure —

CROWLEY: OK.

ROMNEY: — we’re taking advantage of our energy resources. We’ll bring back manufacturing to America. We’re going to get through a very aggressive energy policy, 31/2 million more jobs in this country. It’s critical to our future.

OBAMA: Candy, it’s not going to —

CROWLEY: We’re going to move you along —

OBAMA: Used to being interrupted.

CROWLEY: We’re going to move you both along to taxes over here and all these folks that have been waiting.

Governor, this question is for you. It comes from Mary Follano — Follano, sorry.

ROMNEY: Hi, Mary.

QUESTION: Governor Romney, you have stated that if you’re elected president, you would plan to reduce the tax rates for all the tax brackets and that you would work with the Congress to eliminate some deductions in order to make up for the loss in revenue.

Concerning the — these various deductions, the mortgage deductions, the charitable deductions, the child tax credit and also the — oh, what’s that other credit? I forgot.

OBAMA: You’re doing great.

QUESTION: Oh, I remember.

The education credits, which are important to me, because I have children in college. What would be your position on those things, which are important to the middle class?

ROMNEY: Thank you very much. And let me tell you, you’re absolutely right about part of that, which is I want to bring the rates down, I want to simplify the tax code, and I want to get middle- income taxpayers to have lower taxes.

And the reason I want middle-income taxpayers to have lower taxes is because middle-income taxpayers have been buried over the past four years. You’ve seen, as middle-income people in this country, incomes go down $4,300 a family, even as gasoline prices have gone up $2,000. Health insurance premiums, up $2,500. Food prices up. Utility prices up.

The middle-income families in America have been crushed over the last four years. So I want to get some relief to middle-income families. That’s part — that’s part one.

Now, how about deductions? ‘Cause I’m going to bring rates down across the board for everybody, but I’m going to limit deductions and exemptions and credits, particularly for people at the high end, because I am not going to have people at the high end pay less than they’re paying now.

The top 5 percent of taxpayers will continue to pay 60 percent of the income tax the nation collects. So that’ll stay the same.

Middle-income people are going to get a tax break.

And so, in terms of bringing down deductions, one way of doing that would be say everybody gets — I’ll pick a number — $25,000 of deductions and credits, and you can decide which ones to use. Your home mortgage interest deduction, charity, child tax credit, and so forth, you can use those as part of filling that bucket, if you will, of deductions.

But your rate comes down and the burden also comes down on you for one more reason, and that is every middle-income taxpayer no longer will pay any tax on interest, dividends or capital gains. No tax on your savings. That makes life a lot easier.

If you’re getting interest from a bank, if you’re getting a statement from a mutual fund or any other kind of investment you have, you don’t have to worry about filing taxes on that, because there’ll be no taxes for anybody making $200,000.00 per year and less, on your interest, dividends and capital gains. Why am I lowering taxes on the middle-class? Because under the last four years, they’ve been buried. And I want to help people in the middle-class.

And I will not — I will not under any circumstances, reduce the share that’s being paid by the highest income taxpayers. And I will not, under any circumstances increase taxes on the middle-class. The president’s spending, the president’s borrowing will cost this nation to have to raise taxes on the American people. Not just at the high end. A recent study has shown the people in the middle-class will see $4,000.00 per year in higher taxes as a result of the spending and borrowing of this administration.

I will not let that happen. I want to get us on track to a balanced budget, and I’m going to reduce the tax burden on middle income families. And what’s that going to do? It’s going to help those families, and it’s going to create incentives to start growing jobs again in this country.

CROWLEY: Thanks, Governor.

OBAMA: My philosophy on taxes has been simple. And that is, I want to give middle-class families and folks who are striving to get into the middle-class some relief. Because they have been hit hard over the last decade. Over the last 15, over the last 20 years.

So four years ago I stood on a stage just like this one. Actually it was a town hall, and I said I would cut taxes for middle- class families, and that’s what I’ve done, by $3,600.00. I said I would cut taxes for small businesses, who are the drivers and engines of growth. And we’ve cut them 18 times. And I want to continue those tax cuts for middle-class families, and for small business.

But what I’ve also said is, if we’re serious about reducing the deficit, if this is genuinely a moral obligation to the next generation, then in addition to some tough spending cuts, we’ve also got to make sure that the wealthy do a little bit more.

So what I’ve said is, your first $250,000.00 worth of income, no change. And that means 98 percent of American families, 97 percent of small businesses, they will not see a tax increase. I’m ready to sign that bill right now. The only reason it’s not happening is because Governor Romney’s allies in Congress have held the 98 percent hostage because they want tax breaks for the top 2 percent.

But what I’ve also says is for above $250,000, we can go back to the tax rates we had when Bill Clinton was president. We created 23 million new jobs. That’s part of what took us from deficits to surplus. It will be good for our economy and it will be good for job creation.

Now, Governor Romney has a different philosophy. He was on 60 Minutes just two weeks ago and he was asked: Is it fair for somebody like you, making $20 million a year, to pay a lower tax rate than a nurse or a bus driver, somebody making $50,000 year? And he said, “Yes, I think that’s fair.” Not only that, he said, “I think that’s what grows the economy.”

Well, I fundamentally disagree with that. I think what grows the economy is when you get that tax credit that we put in place for your kids going to college. I think that grows the economy. I think what grows the economy is when we make sure small businesses are getting a tax credit for hiring veterans who fought for our country. That grows our economy.

So we just have a different theory. And when Governor Romney stands here, after a year of campaigning, when during a Republican primary he stood on stage and said “I’m going to give tax cuts” — he didn’t say tax rate cuts, he said “tax cuts to everybody,” including the top 1 percent, you should believe him because that’s been his history.

And that’s exactly the kind of top-down economics that is not going to work if we want a strong middle class and an economy that’s striving for everybody.

CROWLEY: Governor Romney, I’m sure you’ve got a reply there.

(LAUGHTER) ROMNEY: You’re absolutely right.

You heard what I said about my tax plan. The top 5 percent will continue to pay 60 percent, as they do today. I’m not looking to cut taxes for wealthy people. I am looking to cut taxes for middle-income people.

And why do I want to bring rates down, and at the same time lower exemptions and deductions, particularly for people at the high end? Because if you bring rates down, it makes it easier for small business to keep more of their capital and hire people.

And for me, this is about jobs. I want to get America’s economy going again. Fifty-four percent of America’s workers work in businesses that are taxed as individuals. So when you bring those rates down, those small businesses are able to keep more money and hire more people.

For me, I look at what’s happened in the last four years and say this has been a disappointment. We can do better than this. We don’t have to settle for, how many months, 43 months with unemployment above 8 percent, 23 million Americans struggling to find a good job right now.

There are 3.5 million more women living in poverty today than when the president took office.

We don’t have to live like this. We can get this economy going again. My five-point plan does it. Energy independence for North America in five years. Opening up more trade, particularly in Latin America. Cracking down on China when they cheat. Getting us to a balanced budget. Fixing our training programs for our workers. And finally, championing small business.

I want to make small businesses grow and thrive. I know how to make that happen. I spent my life in the private sector. I know why jobs come and why they go. And they’re going now because of the policies of this administration.

CROWLEY: Governor, let me ask the president something about what you just said.

The governor says that he is not going to allow the top 5 percent, believe is what he said, to have a tax cut, that it will all even out, that what he wants to do is give that tax cut to the middle class. Settled?

OBAMA: No, it’s not settled.

Look, the cost of lowering rates for everybody across the board, 20 percent. Along with what he also wants to do in terms of eliminating the estate tax, along what he wants to do in terms of corporates, changes in the tax code, it costs about $5 trillion.

Governor Romney then also wants to spend $2 trillion on additional military programs even though the military’s not asking for them. That’s $7 trillion.

He also wants to continue the Bush tax cuts for the wealthiest Americans. That’s another trillion dollars — that’s $8 trillion.

Now, what he says is he’s going to make sure that this doesn’t add to the deficit and he’s going to cut middleclass taxes.

But when he’s asked, how are you going to do it, which deductions, which loopholes are you going to close? He can’t tell you.

The — the fact that he only has to pay 14 percent on his taxes when a lot of you are paying much higher. He’s already taken that off the board, capital gains are going to continue to be at a low rate so we — we’re not going to get money that way.

We haven’t heard from the governor any specifics beyond Big Bird and eliminating funding for Planned Parenthood in terms of how he pays for that.

Now, Governor Romney was a very successful investor. If somebody came to you, Governor, with a plan that said, here, I want to spend $7 or $8 trillion, and then we’re going to pay for it, but we can’t tell you until maybe after the election how we’re going to do it, you wouldn’t take such a sketchy deal and neither should you, the American people, because the math doesn’t add up.

And — and what’s at stake here is one of two things, either Candy — this blows up the deficit because keep in mind, this is just to pay for the additional spending that he’s talking about, $7 trillion – $8 trillion before we even get to the deficit we already have. Or, alternatively, it’s got to be paid for, not only by closing deductions for wealthy individuals, that — that will pay for about 4 percent reduction in tax rates.

You’re going to be paying for it. You’re going to lose some deductions, and you can’t buy the sales pitch. Nobody who’s looked at it that’s serious, actually believes it adds up.

CROWLEY: Mr. President, let me get — let me get the governor in on this. And Governor, let’s — before we get into a…

ROMNEY: I — I…

CROWLEY: …vast array of who says — what study says what, if it shouldn’t add up. If somehow when you get in there, there isn’t enough tax revenue coming in. If somehow the numbers don’t add up, would you be willing to look again at a 20 percent…

ROMNEY: Well of course they add up. I — I was — I was someone who ran businesses for 25 years, and balanced the budget. I ran the Olympics and balanced the budget. I ran the — the state of Massachusetts as a governor, to the extent any governor does, and balanced the budget all four years. When we’re talking about math that doesn’t add up, how about $4 trillion of deficits over the last four years, $5 trillion? That’s math that doesn’t add up. We have — we have a president talking about someone’s plan in a way that’s completely foreign to what my real plan is.

ROMNEY: And then we have his own record, which is we have four consecutive years where he said when he was running for office, he would cut the deficit in half. Instead he’s doubled it. We’ve gone from $10 trillion of national debt, to $16 trillion of national debt. If the president were reelected, we’d go to almost $20 trillion of national debt. This puts us on a road to Greece. I know what it takes to balance budgets. I’ve done it my entire life. So for instance when he says, “Yours is a $5 trillion cut.” Well, no it’s not. Because I’m offsetting some of the reductions with holding down some of the deductions.

And…

CROWLEY: Governor, I’ve gotta — gotta — actually, I need to have you both (inaudible).

(CROSSTALK)

CROWLEY: I understand the stakes here. I understand both of you. But I — I will get run out of town if I don’t…

(CROSSTALK)

ROMNEY: And I just described — I just described to you, Mr. President — I just described to you precisely how I’d do it which is with a single number that people can put — and they can put they’re — they’re deductions and credits…

(CROSSTALK)

CROWLEY: Mr. President, we’re keeping track, I promise you. And Mr. President, the next question is for you, so stay standing.

OBAMA: Great. Looking forward to it.

And it’s Katherine Fenton, who has a question for you.

QUESTION: In what new ways to you intend to rectify the inequalities in the workplace, specifically regarding females making only 72 percent of what their male counterparts earn?

OBAMA: Well, Katherine, that’s a great question. And, you know, I was raised by a single mom who had to put herself through school while looking after two kids. And she worked hard every day and made a lot of sacrifices to make sure we got everything we needed. My grandmother, she started off as a secretary in a bank. She never got a college education, even though she was smart as a whip. And she worked her way up to become a vice president of a local bank, but she hit the glass ceiling. She trained people who would end up becoming her bosses during the course of her career.

She didn’t complain. That’s not what you did in that generation. And this is one of the reasons why one of the first — the first bill I signed was something called the Lily Ledbetter bill. And it’s named after this amazing woman who had been doing the same job as a man for years, found out that she was getting paid less, and the Supreme Court said that she couldn’t bring suit because she should have found about it earlier, whereas she had no way of finding out about it. So we fixed that. And that’s an example of the kind of advocacy that we need, because women are increasingly the breadwinners in the family. This is not just a women’s issue, this is a family issue, this is a middle-class issue, and that’s why we’ve got to fight for it.

It also means that we’ve got to make sure that young people like yourself are able to afford a college education. Earlier, Governor Romney talked about he wants to make Pell Grants and other education accessible for young people.

Well, the truth of the matter is, is that that’s exactly what we’ve done. We’ve expanded Pell Grants for millions of people, including millions of young women, all across the country.

We did it by taking $60 billion that was going to banks and lenders as middlemen for the student loan program, and we said, let’s just cut out the middleman. Let’s give the money directly to students.

And as a consequence, we’ve seen millions of young people be able to afford college, and that’s going to make sure that young women are going to be able to compete in that marketplace.

But we’ve got to enforce the laws, which is what we are doing, and we’ve also got to make sure that in every walk of life we do not tolerate discrimination.

That’s been one of the hallmarks of my administration. I’m going to continue to push on this issue for the next four years.

CROWLEY: Governor Romney, pay equity for women?

ROMNEY: Thank you. And important topic, and one which I learned a great deal about, particularly as I was serving as governor of my state, because I had the chance to pull together a cabinet and all the applicants seemed to be men.

And I — and I went to my staff, and I said, “How come all the people for these jobs are — are all men.” They said, “Well, these are the people that have the qualifications.” And I said, “Well, gosh, can’t we — can’t we find some — some women that are also qualified?”

ROMNEY: And — and so we — we took a concerted effort to go out and find women who had backgrounds that could be qualified to become members of our cabinet.

I went to a number of women’s groups and said, “Can you help us find folks,” and they brought us whole binders full of women.

I was proud of the fact that after I staffed my Cabinet and my senior staff, that the University of New York in Albany did a survey of all 50 states, and concluded that mine had more women in senior leadership positions than any other state in America.

Now one of the reasons I was able to get so many good women to be part of that team was because of our recruiting effort. But number two, because I recognized that if you’re going to have women in the workforce that sometimes you need to be more flexible. My chief of staff, for instance, had two kids that were still in school.

She said, I can’t be here until 7 or 8 o’clock at night. I need to be able to get home at 5 o’clock so I can be there for making dinner for my kids and being with them when they get home from school. So we said fine. Let’s have a flexible schedule so you can have hours that work for you.

We’re going to have to have employers in the new economy, in the economy I’m going to bring to play, that are going to be so anxious to get good workers they’re going to be anxious to hire women. In the — in the last women have lost 580,000 jobs. That’s the net of what’s happened in the last four years. We’re still down 580,000 jobs. I mentioned 31/2 million women, more now in poverty than four years ago.

What we can do to help young women and women of all ages is to have a strong economy, so strong that employers that are looking to find good employees and bringing them into their workforce and adapting to a flexible work schedule that gives women opportunities that they would otherwise not be able to afford.

This is what I have done. It’s what I look forward to doing and I know what it takes to make an economy work, and I know what a working economy looks like. And an economy with 7.8 percent unemployment is not a real strong economy. An economy that has 23 million people looking for work is not a strong economy.

An economy with 50 percent of kids graduating from college that can’t finds a job, or a college level job, that’s not what we have to have. CROWLEY: Governor?

ROMNEY: I’m going to help women in America get good work by getting a stronger economy and by supporting women in the workforce.

CROWLEY: Mr. President why don’t you get in on this quickly, please?

OBAMA: Katherine, I just want to point out that when Governor Romney’s campaign was asked about the Lilly Ledbetter bill, whether he supported it? He said, “I’ll get back to you.” And that’s not the kind of advocacy that women need in any economy. Now, there are some other issues that have a bearing on how women succeed in the workplace. For example, their healthcare. You know a major difference in this campaign is that Governor Romney feels comfortable having politicians in Washington decide the health care choices that women are making.

I think that’s a mistake. In my health care bill, I said insurance companies need to provide contraceptive coverage to everybody who is insured. Because this is not just a — a health issue, it’s an economic issue for women. It makes a difference. This is money out of that family’s pocket. Governor Romney not only opposed it, he suggested that in fact employers should be able to make the decision as to whether or not a woman gets contraception through her insurance coverage.

That’s not the kind of advocacy that women need. When Governor Romney says that we should eliminate funding for Planned Parenthood, there are millions of women all across the country, who rely on Planned Parenthood for, not just contraceptive care, they rely on it for mammograms, for cervical cancer screenings. That’s a pocketbook issue for women and families all across the country. And it makes a difference in terms of how well and effectively women are able to work. When we talk about child care, and the credits that we’re providing. That makes a difference in whether they can go out there and — and earn a living for their family.

These are not just women’s issues. These are family issues. These are economic issues.

And one of the things that makes us grow as an economy is when everybody participates and women are getting the same fair deal as men are.

CROWLEY: Mr. President…

OBAMA: And I’ve got two daughters and I want to make sure that they have the same opportunities that anybody’s sons have. That’s part of what I’m fighting for as president of the United States.

CROWLEY: I want to move us along here to Susan Katz, who has a question.

And, Governor, it’s for you. QUESTION: Governor Romney, I am an undecided voter, because I’m disappointed with the lack of progress I’ve seen in the last four years. However, I do attribute much of America’s economic and international problems to the failings and missteps of the Bush administration.

Since both you and President Bush are Republicans, I fear a return to the policies of those years should you win this election. What is the biggest difference between you and George W. Bush, and how do you differentiate yourself from George W. Bush?

ROMNEY: Thank you. And I appreciate that question.

I just want to make sure that, I think I was supposed to get that last answer, but I want to point out that that I don’t believe…

OBAMA: I don’t think so, Candy.

ROMNEY: … I don’t believe…

OBAMA: I want to make sure our timekeepers are working here.

ROMNEY: The time — the time…

CROWLEY: OK. The timekeepers are all working. And let me tell you that the last part, it’s for the two of you to talk to one another, and it isn’t quite as (inaudible) you think.

But go ahead and use this two minutes any way you’d like to, the question is on the floor.

ROMNEY: I’d just note that I don’t believe that bureaucrats in Washington should tell someone whether they can use contraceptives or not. And I don’t believe employers should tell someone whether they could have contraceptive care of not. Every woman in America should have access to contraceptives. And — and the — and the president’s statement of my policy is completely and totally wrong.

OBAMA: Governor…

ROMNEY: Let me come back and — and answer your question.

President Bush and I are — are different people and these are different times and that’s why my five point plan is so different than what he would have done.

I mean for instance, we can now, by virtue of new technology actually get all the energy we need in North America without having to go to the — the Arabs or the Venezuelans or anyone else. That wasn’t true in his time, that’s why my policy starts with a very robust policy to get all that energy in North America — become energy secure.

Number two, trade — I’ll crack down on China, President Bush didn’t. I’m also going to dramatically expand trade in Latin America. It’s been growing about 12 percent per year over a long period of time. I want to add more free trade agreements so we’ll have more trade.

Number three, I’m going to get us to a balanced budget. President Bush didn’t. President Obama was right, he said that that was outrageous to have deficits as high as half a trillion dollars under the Bush years. He was right, but then he put in place deficits twice that size for every one of his four years. And his forecast for the next four years is more deficits, almost that large. So that’s the next area I’m different than President Bush.

And then let’s take the last one, championing small business. Our party has been focused too long. I came through small business. I understand how hard it is to start a small business. That’s why everything I’ll do is designed to help small businesses grow and add jobs. I want to keep their taxes down on small business. I want regulators to see their job as encouraging small enterprise, not crushing it.

And the thing I find the most troubling about Obama Care, well it’s a long list, but one of the things I find most troubling is that when you go out and talk to small businesses and ask them what they think about it, they tell you it keeps them from hiring more people.

My priority is jobs. I know how to make that happen. And President Bush has a very different path for a very different time. My path is designed in getting small businesses to grow and hire people.

CROWLEY: Thanks, Governor.

Mr. President?

OBAMA: Well, first of all, I think it’s important to tell you that we did come in during some tough times. We were losing 800,000 jobs a month when I started. But we had been digging our way out of policies that were misplaced and focused on the top doing very well and middle class folks not doing well.

Now, we’ve seen 30 consecutive — 31 consecutive months of job growth; 5.2 million new jobs created. And the plans that I talked about will create even more. But when Governor Romney says that he has a very different economic plan, the centerpiece of his economic plan are tax cuts. That’s what took us from surplus to deficit. When he talks about getting tough on China, keep in mind that Governor Romney invested in companies that were pioneers of outsourcing to China, and is currently investing in countries — in companies that are building surveillance equipment for China to spy on its own folks.

That’s — Governor, you’re the last person who’s going to get tough on China. And what we’ve done when it comes to trade is not only sign three trade deals to open up new markets, but we’ve also set up a task force for trade that goes after anybody who is taking advantage of American workers or businesses and not creating a level playing field. We’ve brought twice as many cases against unfair trading practices than the previous administration and we’ve won every single one that’s been decided.

When I said that we had to make sure that China was not flooding our domestic market with cheap tires, Governor Romney said I was being protectionist; that it wouldn’t be helpful to American workers. Well, in fact we saved 1,000 jobs. And that’s the kind of tough trade actions that are required.

But the last point I want to make is this. You know, there are some things where Governor Romney is different from George Bush. George Bush didn’t propose turning Medicare into a voucher. George Bush embraced comprehensive immigration reform. He didn’t call for self-deportation.

George Bush never suggested that we eliminate funding for Planned Parenthood, so there are differences between Governor Romney and George Bush, but they’re not on economic policy. In some ways, he’s gone to a more extreme place when it comes to social policy. And I think that’s a mistake. That’s not how we’re going to move our economy forward.

CROWLEY: I want to move you both along to the next question, because it’s in the same wheelhouse, so you will be able to respond. But the president does get this question. I want to call on Michael Jones.

QUESTION: Mr. President, I voted for you in 2008. What have you done or accomplished to earn my vote in 2012? I’m not that optimistic as I was in 2012. Most things I need for everyday living are very expensive.

OBAMA: Well, we’ve gone through a tough four years. There’s no doubt about it. But four years ago, I told the American people and I told you I would cut taxes for middle class families. And I did. I told you I’d cut taxes for small businesses, and I have.

I said that I’d end the war in Iraq, and I did. I said we’d refocus attention on those who actually attacked us on 9/11, and we have gone after Al Qaeda’s leadership like never before and Osama bin Laden is dead.

OBAMA: I said that we would put in place health care reform to make sure that insurance companies can’t jerk you around and if you don’t have health insurance, that you’d have a chance to get affordable insurance, and I have.

I committed that I would rein in the excesses of Wall Street, and we passed the toughest Wall Street reforms since the 1930s. We’ve created five million jobs, and gone from 800 jobs a month being lost, and we are making progress. We saved an auto industry that was on the brink of collapse.

Now, does that mean you’re not struggling? Absolutely not. A lot of us are. And that’s why the plan that I’ve put forward for manufacturing and education, and reducing our deficit in a sensible way, using the savings from ending wars, to rebuild America and putting people back to work. Making sure that we are controlling our own energy, but not only the energy of today, but also the energy of the future. All of those things will make a difference, so the point is the commitments I’ve made, I’ve kept.

And those that I haven’t been able to keep, it’s not for lack of trying and we’re going to get it done in a second term. But, you should pay attention to this campaign, because Governor Romney has made some commitments as well. And I suspect he’ll keep those too. You know when members of the Republican Congress say, “We’re going to sign a no tax pledge, so that we don’t ask a dime for millionaires and billionaires to reduce our deficit so we can still invest in education, and helping kids go to college. He said, “Me too.”

When they said, “We’re going to cut Planned Parenthood funding.” He said, “Me too.” When he said, “We’re going to repeal Obamacare. First thing I’m going to do,” despite the fact that it’s the same health care plan that he passed in Massachusetts and is working well. He said, “Me too.” That is not the kind of leadership that you need, but you should expect that those are promises he’s going to keep.

(CROSSTALK)

CROWLEY: Mr. President, let me let…

(CROSSTALK)

OBAMA: …the choice in this election is going to be whose promises are going to be more likely to help you in your life? Make sure your kids can go to college. Make sure that you are getting a good paying job, making sure that Medicare and Social Security… (CROSSTALK)

CROWLEY: Mr. President. Thank you.

(CROSSTALK)

OBAMA: …will be there for you.

CROWLEY: Thank you. Governor?

ROMNEY: I think you know better. I think you know that these last four years haven’t been so good as the president just described and that you don’t feel like your confident that the next four years are going to be much better either.

I can tell you that if you were to elect President Obama, you know what you’re going to get. You’re going to get a repeat of the last four years. We just can’t afford four more years like the last four years.

He said that by now we’d have unemployment at 5.4 percent. The difference between where it is and 5.4 percent is 9 million Americans without work.

I wasn’t the one that said 5.4 percent. This was the president’s plan. Didn’t get there.

He said he would have by now put forward a plan to reform Medicare and Social Security, because he pointed out they’re on the road to bankruptcy. He would reform them. He’d get that done. He hasn’t even made a proposal on either one.

He said in his first year he’d put out an immigration plan that would deal with our immigration challenges. Didn’t even file it.

This is a president who has not been able to do what he said he’d do. He said that he’d cut in half the deficit. He hasn’t done that either. In fact, he doubled it. He said that by now middle-income families would have a reduction in their health insurance premiums by $2,500 a year. It’s gone up by $2,500 a year. And if Obamacare is passed, or implemented — it’s already been passed — if it’s implemented fully, it’ll be another $2,500 on top.

ROMNEY: The middle class is getting crushed under the policies of a president who has not understood what it takes to get the economy working again. He keeps saying, “Look, I’ve created 5 million jobs.” That’s after losing 5 million jobs. The entire record is such that the unemployment has not been reduced in this country. The unemployment, the number of people who are still looking for work, is still 23 million Americans.

There are more people in poverty, one out of six people in poverty.

How about food stamps? When he took office, 32 million people were on food stamps. Today, 47 million people are on food stamps. How about the growth of the economy? It’s growing more slowly this year than last year, and more slowly last year than the year before.

The president wants to do well. I understand. But the policies he’s put in place from Obamacare to Dodd-Frank to his tax policies to his regulatory policies, these policies combined have not let this economy take off and grow like it could have.

You might say, “Well, you got an example of one that worked better?” Yeah, in the Reagan recession where unemployment hit 10.8 percent, between that period — the end of that recession and the equivalent of time to today, Ronald Reagan’s recovery created twice as many jobs as this president’s recovery. Five million jobs doesn’t even keep up with our population growth. And the only reason the unemployment rate seems a little lower today is because of all the people that have dropped out of the workforce.

The president has tried, but his policies haven’t worked. He’s great as a — as a — as a speaker and describing his plans and his vision. That’s wonderful, except we have a record to look at. And that record shows he just hasn’t been able to cut the deficit, to put in place reforms for Medicare and Social Security to preserve them, to get us the rising incomes we need. Median income is down $4,300 a family and 23 million Americans out of work. That’s what this election is about. It’s about who can get the middle class in this country a bright and prosperous future and assure our kids the kind of hope and optimism they deserve.

CROWLEY: Governor, I want to move you along. Don’t — don’t go away, and we’ll have plenty of time to respond. We are quite aware of the clock for both of you. But I want to bring in a different subject here.

Mr. President, I’ll be right back with you.

Lorraine Osorio has a question for you about a topic we have not…

OBAMA: This is for Governor Romney?

CROWLEY: It’s for Governor Romney, and we’ll be right with you, Mr. President. Thanks.

ROMNEY: Is it Loraina?

QUESTION: Lorraine.

ROMNEY: Lorraine?

QUESTION: Yes, Lorraine.

ROMNEY: Lorraine.

QUESTION: How you doing?

ROMNEY: Good, thanks.

QUESTION: Mr. Romney, what do you plan on doing with immigrants without their green cards that are currently living here as productive members of society?

ROMNEY: Thank you. Lorraine? Did I get that right? Good. Thank you for your question. And let me step back and tell you what I would like to do with our immigration policy broadly and include an answer to your question.

But first of all, this is a nation of immigrants. We welcome people coming to this country as immigrants. My dad was born in Mexico of American parents; Ann’s dad was born in Wales and is a first-generation American. We welcome legal immigrants into this country.

I want our legal system to work better. I want it to be streamlined. I want it to be clearer. I don’t think you have to — shouldn’t have to hire a lawyer to figure out how to get into this country legally. I also think that we should give visas to people — green cards, rather, to people who graduate with skills that we need. People around the world with accredited degrees in science and math get a green card stapled to their diploma, come to the U.S. of A. We should make sure our legal system works.

Number two, we’re going to have to stop illegal immigration. There are 4 million people who are waiting in line to get here legally. Those who’ve come here illegally take their place. So I will not grant amnesty to those who have come here illegally.

What I will do is I’ll put in place an employment verification system and make sure that employers that hire people who have come here illegally are sanctioned for doing so. I won’t put in place magnets for people coming here illegally. So for instance, I would not give driver’s licenses to those that have come here illegally as the president would.

The kids of those that came here illegally, those kids, I think, should have a pathway to become a permanent resident of the United States and military service, for instance, is one way they would have that kind of pathway to become a permanent resident.

ROMNEY: Now when the president ran for office, he said that he’d put in place, in his first year, a piece of legislation — he’d file a bill in his first year that would reform our — our immigration system, protect legal immigration, stop illegal immigration. He didn’t do it.

He had a Democrat House, a Democrat Senate, super majority in both Houses. Why did he fail to even promote legislation that would have provided an answer for those that want to come legally and for those that are here illegally today? What’s a question I think the — the president will have a chance to answer right now.

OBAMA: Good, I look forward to it.

Was — Lorranna — Lorraine — we are a nation of immigrants. I mean we’re just a few miles away from Ellis Island. We all understand what this country has become because talent from all around the world wants to come here. People are willing to take risks. People who want to build on their dreams and make sure their kids have an even bigger dreams than they have.

But we’re also a nation of laws. So what I’ve said is we need to fix a broken immigration system and I’ve done everything that I can on my own and sought cooperation from Congress to make sure that we fix the system.

The first thing we did was to streamline the legal immigration system, to reduce the backlog, make it easier, simpler and cheaper for people who are waiting in line, obeying the law to make sure that they can come here and contribute to our country and that’s good for our economic growth.

They’ll start new businesses. They’ll make things happen to create jobs here in the United States.

Number two, we do have to deal with our border so we put more border patrol on the — any time in history and the flow of undocumented works across the border is actually lower than it’s been in 40 years.

What I’ve also said is if we’re going to go after folks who are here illegally, we should do it smartly and go after folks who are criminals, gang bangers, people who are hurting the community, not after students, not after folks who are here just because they’re trying to figure out how to feed their families. And that’s what we’ve done. And what I’ve also said is for young people who come here, brought here often times by their parents. Had gone to school here, pledged allegiance to the flag. Think of this as their country. Understand themselves as Americans in every way except having papers. And we should make sure that we give them a pathway to citizenship.

And that’s what I’ve done administratively. Now, Governor Romney just said, you know he wants to help those young people too, but during the Republican primary, he said, “I will veto the DREAM Act”, that would allow these young people to have access.” His main strategy during the Republican primary was to say, “We’re going to encourage self-deportation.” Making life so miserable on folks that they’ll leave. He called the Arizona law a model for the nation. Part of the Arizona law said that law enforcement officers could stop folks because they suspected maybe they looked like they might be undocumented workers and check their papers.

You know what? If my daughter or yours looks to somebody like they’re not a citizen, I don’t want — I don’t want to empower somebody like that. So, we can fix this system in a comprehensive way. And when Governor Romney says, the challenge is, “Well Obama didn’t try.” That’s not true. I have sat down with Democrats and Republicans at the beginning of my term. And I said, let’s fix this system. Including Senators previously who had supported it on the Republican side. But it’s very hard for Republican’s in Congress to support comprehensive immigration reform, if their standard bearer has said that, this is not something I’m interested in supporting.

CROWLEY: Let me get the governor in here, Mr. President. Let’s speak to, if you could…

ROMNEY: Yes.

CROWLEY: …the idea of self-deportation?

ROMNEY: No, let — let — let me go back and speak to the points that the president made and — and — and let’s get them correct.

I did not say that the Arizona law was a model for the nation in that aspect. I said that the E-Verify portion of the Arizona law, which is — which is the portion of the law which says that employers could be able to determine whether someone is here illegally or not illegally, that that was a model for the nation. That’s number one.

Number two, I asked the president a question I think Hispanics and immigrants all over the nation have asked. He was asked this on Univision the other day. Why, when you said you’d filed legislation in your first year didn’t you do it? And he didn’t answer. He — he doesn’t answer that question. He said the standard bearer wasn’t for it.

I’m glad you thought I was a standard bearer four years ago, but I wasn’t.

Four years ago you said in your first year you would file legislation.

In his first year, I was just getting — licking my wounds from having been beaten by John McCain, all right. I was not the standard bearer.

My — my view is that this president should have honored his promise to do as he said.

Now, let me mention one other thing, and that is self-deportation says let people make their own choice. What I was saying is, we’re not going to round up 12 million people, undocumented illegals, and take them out of the nation. Instead let people make their own choice. And if they — if they find that — that they can’t get the benefits here that they want and they can’t — and they can’t find the job they want, then they’ll make a decision to go a place where — where they have better opportunities.

But I’m not in favor of rounding up people and — and — and taking them out of this country. I am in favor, as the president has said, and I agree with him, which is that if people have committed crimes we got to get them out of this country.

ROMNEY: Let me mention something else the president said. It was a moment ago and I didn’t get a chance to, when he was describing Chinese investments and so forth.

OBAMA: Candy?

Hold on a second. The…

ROMNEY: Mr. President, I’m still speaking.

(CROSSTALK)

ROMNEY: Mr. President, let me finish.

(CROSSTALK)

ROMNEY: I’ve gotta continue.

(CROSSTALK)

CROWLEY: Governor Romney, you can make it short. See all these people? They’ve been waiting for you. (inaudible) make it short (inaudible).

ROMNEY: Just going to make a point. Any investments I have over the last eight years have been managed by a blind trust. And I understand they do include investments outside the United States, including in — in Chinese companies.

Mr. President, have you looked at your pension? Have you looked at your pension?

OBAMA: I’ve got to say…

ROMNEY: Mr. President, have you looked at your pension?

OBAMA: You know, I — I don’t look at my pension. It’s not as big as yours so it doesn’t take as long.

ROMNEY: Well, let me give you some advice.

OBAMA: I don’t check it that often.

ROMNEY: Let me give you some advice. Look at your pension. You also have investments in Chinese companies. You also have investments outside the United States. You also have investments through a Cayman’s trust.

(CROSSTALK)

CROWLEY: We’re way off topic here, Governor Romney.

(CROSSTALK)

OBAMA: I thought we were talking about immigration.

(CROSSTALK)

OBAMA: I do want to make sure that…

CROWLEY: If I could have you sit down, Governor Romney. Thank you.

OBAMA: I do want to make sure that — I do want to make sure that we just understand something. Governor Romney says he wasn’t referring to Arizona as a model for the nation. His top adviser on immigration is the guy who designed the Arizona law, the entirety of it; not E-Verify, the whole thing. That’s his policy. And it’s a bad policy. And it won’t help us grow.

Look, when we think about immigration, we have to understand there are folks all around the world who still see America as the land of promise. And they provide us energy and they provide us innovation and they start companies like Intel and Google. And we want to encourage that.

Now, we’ve got to make sure that we do it in a smart way and a comprehensive way, and we make the legal system better. But when we make this into a divisive political issue, and when we don’t have bipartisan support — I can deliver, Governor, a whole bunch of Democrats to get comprehensive immigration reform done, and we can’t…

ROMNEY: I’ll get it done. I’ll get it done. First year…

OBAMA: … we can’t — we have not seen Republicans serious about this issue at all. And it’s time for them to get serious on it.

CROWLEY: Mr. President, let me move you on here please. Mr. President, (inaudible).

OBAMA: This used to be a bipartisan issue.

(CROSSTALK)

CROWLEY: Don’t go away, though — right. Don’t go away because I — I want you to talk to Kerry Ladka who wants to switch the topic for us.

OBAMA: OK.

Hi, Kerry.

QUESTION: Good evening, Mr. President.

OBAMA: I’m sorry. What’s your name?

QUESTION: It’s Kerry, Kerry Ladka.

OBAMA: Great to see you.

QUESTION: This question actually comes from a brain trust of my friends at Global Telecom Supply (ph) in Minneola yesterday.

OBAMA: Ah.

QUESTION: We were sitting around, talking about Libya, and we were reading and became aware of reports that the State Department refused extra security for our embassy in Benghazi, Libya, prior to the attacks that killed four Americans.

Who was it that denied enhanced security and why?

OBAMA: Well, let me first of all talk about our diplomats, because they serve all around the world and do an incredible job in a very dangerous situation. And these aren’t just representatives of the United States, they are my representatives. I send them there, oftentimes into harm’s way. I know these folks and I know their families. So nobody is more concerned about their safety and security than I am.

So as soon as we found out that the Benghazi consulate was being overrun, I was on the phone with my national security team and I gave them three instructions.

Number one, beef up our security and procedures, not just in Libya, but at every embassy and consulate in the region.

Number two, investigate exactly what happened, regardless of where the facts lead us, to make sure folks are held accountable and it doesn’t happen again.

And number three, we are going to find out who did this and we’re going to hunt them down, because one of the things that I’ve said throughout my presidency is when folks mess with Americans, we go after them.

OBAMA: Now Governor Romney had a very different response. While we were still dealing with our diplomats being threatened, Governor Romney put out a press release, trying to make political points, and that’s not how a commander in chief operates. You don’t turn national security into a political issue. Certainly not right when it’s happening. And people — not everybody agrees with some of the decisions I’ve made. But when it comes to our national security, I mean what I say. I said I’d end the war in Libya — in — in Iraq, and I did.

I said that we’d go after al-Qaeda and bin Laden, we have. I said we’d transition out of Afghanistan, and start making sure that Afghans are responsible for their own security, that’s what I’m doing. And when it comes to this issue, when I say that we are going to find out exactly what happened, everybody will be held accountable. And I am ultimately responsible for what’s taking place there because these are my folks, and I’m the one who has to greet those coffins when they come home. You know that I mean what I say.

CROWLEY: Mr. President, I’m going to move us along. Governor?

ROMNEY: Thank you Kerry for your question, it’s an important one. And — and I — I think the president just said correctly that the buck does stop at his desk and — and he takes responsibility for — for that — for the failure in providing those security resources, and — and those terrible things may well happen from time to time. I — I’m — I feel very deeply sympathetic for the families of those who lost loved ones. And today there’s a memorial service for one of those that was lost in this tragedy. We — we think of their families and care for them deeply. There were other issues associated with this — with this tragedy. There were many days that passed before we knew whether this was a spontaneous demonstration, or actually whether it was a terrorist attack.

ROMNEY: And there was no demonstration involved. It was a terrorist attack and it took a long time for that to be told to the American people. Whether there was some misleading, or instead whether we just didn’t know what happened, you have to ask yourself why didn’t we know five days later when the ambassador to the United Nations went on TV to say that this was a demonstration. How could we have not known?

But I find more troubling than this, that on — on the day following the assassination of the United States ambassador, the first time that’s happened since 1979, when — when we have four Americans killed there, when apparently we didn’t know what happened, that the president, the day after that happened, flies to Las Vegas for a political fund-raiser, then the next day to Colorado for another event, other political event.

I think these — these actions taken by a president and a leader have symbolic significance and perhaps even material significance in that you’d hope that during that time we could call in the people who were actually eyewitnesses. We’ve read their accounts now about what happened. It was very clear this was not a demonstration. This was an attack by terrorists.

And this calls into question the president’s whole policy in the Middle East. Look what’s happening in Syria, in Egypt, now in Libya. Consider the distance between ourselves and — and Israel, the president said that — that he was going to put daylight between us and Israel.

We have Iran four years closer to a nuclear bomb. Syria — Syria’s not just a tragedy of 30,000 civilians being killed by a military, but also a strategic — strategically significant player for America.

The president’s policies throughout the Middle East began with an apology tour and — and — and pursue a strategy of leading from behind, and this strategy is unraveling before our very eyes.

CROWLEY: Because we’re — we’re closing in, I want to still get a lot of people in. I want to ask you something, Mr. President, and then have the governor just quickly.

Your secretary of state, as I’m sure you know, has said that she takes full responsibility for the attack on the diplomatic mission in Benghazi. Does the buck stop with your secretary of state as far as what went on here?

OBAMA: Secretary Clinton has done an extraordinary job. But she works for me. I’m the president and I’m always responsible, and that’s why nobody’s more interested in finding out exactly what happened than I do.

The day after the attack, governor, I stood in the Rose Garden and I told the American people in the world that we are going to find out exactly what happened. That this was an act of terror and I also said that we’re going to hunt down those who committed this crime.

And then a few days later, I was there greeting the caskets coming into Andrews Air Force Base and grieving with the families.

And the suggestion that anybody in my team, whether the Secretary of State, our U.N. Ambassador, anybody on my team would play politics or mislead when we’ve lost four of our own, governor, is offensive. That’s not what we do. That’s not what I do as president, that’s not what I do as Commander in Chief.

CROWLEY: Governor, if you want to…

ROMNEY: Yes, I — I…

CROWLEY: … quickly to this please.

ROMNEY: I — I think interesting the president just said something which — which is that on the day after the attack he went into the Rose Garden and said that this was an act of terror.

OBAMA: That’s what I said.

ROMNEY: You said in the Rose Garden the day after the attack, it was an act of terror.

It was not a spontaneous demonstration, is that what you’re saying?

OBAMA: Please proceed governor.

ROMNEY: I want to make sure we get that for the record because it took the president 14 days before he called the attack in Benghazi an act of terror.

OBAMA: Get the transcript.

CROWLEY: It — it — it — he did in fact, sir. So let me — let me call it an act of terror…

OBAMA: Can you say that a little louder, Candy?

CROWLEY: He — he did call it an act of terror. It did as well take — it did as well take two weeks or so for the whole idea there being a riot out there about this tape to come out. You are correct about that.

ROMNEY: This — the administration — the administration indicated this was a reaction to a video and was a spontaneous reaction.

CROWLEY: It did.

ROMNEY: It took them a long time to say this was a terrorist act by a terrorist group. And to suggest — am I incorrect in that regard, on Sunday, the — your secretary —

OBAMA: Candy?

ROMNEY: Excuse me. The ambassador of the United Nations went on the Sunday television shows and spoke about how —

OBAMA: Candy, I’m —

ROMNEY: — this was a spontaneous —

CROWLEY: Mr. President, let me —

OBAMA: I’m happy to have a longer conversation —

CROWLEY: I know you —

OBAMA: — about foreign policy.

CROWLEY: Absolutely. But I want to — I want to move you on and also —

OBAMA: OK. I’m happy to do that, too.

CROWLEY: — the transcripts and —

OBAMA: I just want to make sure that —

CROWLEY: — figure out what we —

OBAMA: — all of these wonderful folks are going to have a chance to get some of their questions answered.

CROWLEY: Because what I — what I want to do, Mr. President, stand there a second, because I want to introduce you to Nina Gonzalez, who brought up a question that we hear a lot, both over the Internet and from this crowd.

QUESTION: President Obama, during the Democratic National Convention in 2008, you stated you wanted to keep AK-47s out of the hands of criminals. What has your administration done or planned to do to limit the availability of assault weapons?

OBAMA: We’re a nation that believes in the Second Amendment, and I believe in the Second Amendment. We’ve got a long tradition of hunting and sportsmen and people who want to make sure they can protect themselves.

But there have been too many instances during the course of my presidency, where I’ve had to comfort families who have lost somebody. Most recently out in Aurora. You know, just a couple of weeks ago, actually, probably about a month, I saw a mother, who I had met at the bedside of her son, who had been shot in that theater.

And her son had been shot through the head. And we spent some time, and we said a prayer and, remarkably, about two months later, this young man and his mom showed up, and he looked unbelievable, good as new.

But there were a lot of families who didn’t have that good fortune and whose sons or daughters or husbands didn’t survive.

So my belief is that, (A), we have to enforce the laws we’ve already got, make sure that we’re keeping guns out of the hands of criminals, those who are mentally ill. We’ve done a much better job in terms of background checks, but we’ve got more to do when it comes to enforcement.

But I also share your belief that weapons that were designed for soldiers in war theaters don’t belong on our streets. And so what I’m trying to do is to get a broader conversation about how do we reduce the violence generally. Part of it is seeing if we can get an assault weapons ban reintroduced. But part of it is also looking at other sources of the violence. Because frankly, in my home town of Chicago, there’s an awful lot of violence and they’re not using AK-47s. They’re using cheap hand guns.

And so what can we do to intervene, to make sure that young people have opportunity; that our schools are working; that if there’s violence on the streets, that working with faith groups and law enforcement, we can catch it before it gets out of control.

And so what I want is a — is a comprehensive strategy. Part of it is seeing if we can get automatic weapons that kill folks in amazing numbers out of the hands of criminals and the mentally ill. But part of it is also going deeper and seeing if we can get into these communities and making sure we catch violent impulses before they occur.

CROWLEY: Governor Romney, the question is about assault weapons, AK-47s.

ROMNEY: Yeah, I’m not in favor of new pieces of legislation on — on guns and taking guns away or making certain guns illegal. We, of course, don’t want to have automatic weapons, and that’s already illegal in this country to have automatic weapons. What I believe is we have to do, as the president mentioned towards the end of his remarks there, which is to make enormous efforts to enforce the gun laws that we have, and to change the culture of violence that we have.

And you ask how — how are we going to do that? And there are a number of things. He mentioned good schools. I totally agree. We were able to drive our schools to be number one in the nation in my state. And I believe if we do a better job in education, we’ll — we’ll give people the — the hope and opportunity they deserve and perhaps less violence from that. But let me mention another thing. And that is parents. We need moms and dads, helping to raise kids. Wherever possible the — the benefit of having two parents in the home, and that’s not always possible. A lot of great single moms, single dads. But gosh to tell our kids that before they have babies, they ought to think about getting married to someone, that’s a great idea.

Because if there’s a two parent family, the prospect of living in poverty goes down dramatically. The opportunities that the child will — will be able to achieve increase dramatically. So we can make changes in the way our culture works to help bring people away from violence and give them opportunity, and bring them in the American system. The — the greatest failure we’ve had with regards to — to gun violence in some respects is what — what is known as Fast and Furious. Which was a program under this administration, and how it worked exactly I think we don’t know precisely, where thousands of automatic, and AK-47 type weapons were — were given to people that ultimately gave them to — to drug lords.

They used those weapons against — against their own citizens and killed Americans with them. And this was a — this was a program of the government. For what purpose it was put in place, I can’t imagine. But it’s one of the great tragedies related to violence in our society which has occurred during this administration. Which I think the American people would like to understand fully, it’s been investigated to a degree, but — but the administration has carried out executive privilege to prevent all of the information from coming out.

I’d like to understand who it was that did this, what the idea was behind it, why it led to the violence, thousands of guns going to Mexican drug lords. OBAMA: Candy?

CROWLEY: Governor, Governor, if I could, the question was about these assault weapons that once were once banned and are no longer banned.

I know that you signed an assault weapons ban when you were in Massachusetts, obviously, with this question, you no longer do support that. Why is that, given the kind of violence that we see sometimes with these mass killings? Why is it that you have changed your mind?

ROMNEY: Well, Candy, actually, in my state, the pro-gun folks and the anti-gun folks came together and put together a piece of legislation. And it’s referred to as an assault weapon ban, but it had, at the signing of the bill, both the pro-gun and the anti-gun people came together, because it provided opportunities for both that both wanted.

There were hunting opportunities, for instance, that haven’t previously been available and so forth, so it was a mutually agreed- upon piece of legislation. That’s what we need more of, Candy. What we have right now in Washington is a place that’s gridlocked.

CROWLEY: So I could — if you could get people to agree to it, you would be for it?

ROMNEY: We have —

OBAMA: Candy?

ROMNEY: — we haven’t had the leadership in Washington to work on a bipartisan basis. I was able to do that in my state and bring these two together.

CROWLEY: Quickly, Mr. President.

OBAMA: The — first of all, I think Governor Romney was for an assault weapons ban before he was against it. And he said that the reason he changed his mind was, in part, because he was seeking the endorsement of the National Rifle Association. So that’s on the record.

But I think that one area we agree on is the important of parents and the importance of schools, because I do believe that if our young people have opportunity, then they are less likely to engage in these kinds of violent acts. We’re not going to eliminate everybody who is mentally disturbed and we have got to make sure they don’t get weapons.

(AUDIO GAP)

OBAMA: because I do believe that if our young people have opportunity, then they’re less likely to engage in these kind of violent acts.

We’re not going to eliminate everybody who is mentally disturbed, and we’ve got to make sure they don’t get weapons. But we can make a difference in terms ensuring that every young person in America, regardless of where they come from, what they look like, have a chance to succeed.

And, Candy, we haven’t had a chance to talk about education much, but I think it is very important to understand that the reforms we’ve put in place, working with 46 governors around the country, are seeing schools that are some of the ones that are the toughest for kids starting to succeed. We’re starting to see gains in math and science.

When it comes to community colleges, we are setting up programs, including with Nassau Community College, to retrain workers, including young people who may have dropped out of school but now are getting another chance, training them for the jobs that exist right now.

And in fact, employers are looking for skilled workers. And so we’re matching them up. Giving them access to higher education. As I said, we have made sure that millions of young people are able to get an education that they weren’t able to get before.

Now…

CROWLEY: Mr. President, I have to — I have to move you along here. You said you wanted to…

(CROSSTALK)

CROWLEY: We need to do it here.

OBAMA: But — but it’ll — it’ll — it’ll be…

(CROSSTALK)

OBAMA: … just one second.

CROWLEY: One…

OBAMA: Because — because this is important. This is part of the choice in this election.

When Governor Romney was asked whether teachers, hiring more teachers was important to growing our economy, Governor Romney said that doesn’t grow our economy.

When — when he was asked would class size…

(CROSSTALK)

CROWLEY: The question, Mr. President, was guns here, so I need to move us along.

OBAMA: I understand.

CROWLEY: You know, the question was guns. So let me — let me bring in another…

OBAMA: But this will make a difference in terms of whether or not we can move this economy forward for these young people…

CROWLEY: I understand.

OBAMA: … and reduce our violence.

CROWLEY: OK. Thank you so much.

I want to ask Carol Goldberg to stand up, because she gets to a question that both these men have been passionate about. It’s for Governor Romney.

QUESTION: The outsourcing of American jobs overseas has taken a toll on our economy. What plans do you have to put back and keep jobs here in the United States?

ROMNEY: Boy, great question and important question, because you’re absolutely right. The place where we’ve seen manufacturing go has been China. China is now the largest manufacturer in the world. It used to be the United States of America. A lot of good people have lost jobs. A half a million manufacturing jobs have been lost in the last four years. That’s total over the last four years.

One of the reasons for that is that people think it’s more attractive in some cases to go offshore than to stay here. We have made it less attractive for enterprises to stay here than to go offshore from time to time. What I will do as president is make sure it’s more attractive to come to America again.

This is the way we’re going to create jobs in this country. It’s not by trickle-down government, saying we’re going to take more money from people and hire more government workers, raise more taxes, put in place more regulations. Trickle-down government has never worked here, has never worked anywhere.

I want to make America the most attractive place in the world for entrepreneurs, for small business, for big business, to invest and grow in America.

Now, we’re going to have to make sure that as we trade with other nations that they play by the rules. And China hasn’t. One of the reasons — or one of the ways they don’t play by the rules is artificially holding down the value of their currency. Because if they put their currency down low, that means their prices on their goods are low. And that makes them advantageous in the marketplace.

We lose sales. And manufacturers here in the U.S. making the same products can’t compete. China has been a currency manipulator for years and years and years. And the president has a regular opportunity to label them as a currency manipulator, but refuses to do so.

On day one, I will label China a currency manipulator, which will allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.

So we’re going to make sure that people we trade with around the world play by the rules. But let me — let me not just stop there. Don’t forget, what’s key to bringing back jobs here is not just finding someone else to punish, and I’m going to be strict with people who we trade with to make sure they — they follow the law and play by the rules, but it’s also to make America the most attractive place in the world for businesses of all kinds.

That’s why I want to down the tax rates on small employers, big employers, so they want to be here. Canada’s tax rate on companies is now 15 percent. Ours is 35 percent. So if you’re starting a business, where would you rather start it? We have to be competitive if we’re going to create more jobs here.

Regulations have quadrupled. The rate of regulations quadrupled under this president. I talk to small businesses across the country. They say, “We feel like we’re under attack from our own government.” I want to make sure that regulators see their job as encouraging small business, not crushing it. And there’s no question but that Obamacare has been an extraordinary deterrent to enterprises of all kinds hiring people.

My priority is making sure that we get more people hired. If we have more people hired, if we get back manufacturing jobs, if we get back all kinds of jobs into this country, then you’re going to see rising incomes again. The reason incomes are down is because unemployment is so high. I know what it takes to get this to happen, and my plan will do that, and one part of it is to make sure that we keep China playing by the rules.

CROWLEY: Mr. President, two minutes here, because we are then going to go to our last question.

OBAMA: OK. We need to create jobs here. And both Governor Romney and I agree actually that we should lower our corporate tax rate. It’s too high. But there’s a difference in terms of how we would do it. I want to close loopholes that allow companies to deduct expenses when they move to China; that allow them to profit offshore and not have to get taxed, so they have tax advantages offshore.

All those changes in our tax code would make a difference.

Now, Governor Romney actually wants to expand those tax breaks. One of his big ideas when it comes to corporate tax reform would be to say, if you invest overseas, you make profits overseas, you don’t have to pay U.S. taxes.

But, of course, if you’re a small business or a mom-and-pop business or a big business starting up here, you’ve got to pay even the reduced rate that Governor Romney’s talking about.

And it’s estimated that that will create 800,000 new jobs. The problem is they’ll be in china. Or India. Or Germany.

That’s not the way we’re going to create jobs here. The way we’re going to create jobs here is not just to change our tax code, but also to double our exports. And we are on pace to double our exports, one of the commitments I made when I was president. That’s creating tens of thousands of jobs all across the country. That’s why we’ve kept on pushing trade deals, but trade deals that make sure that American workers and American businesses are getting a good deal.

Now, Governor Romney talked about China, as I already indicated. In the private sector, Governor Romney’s company invested in what were called pioneers of outsourcing. That’s not my phrase. That’s what reporters called it.

And as far as currency manipulation, the currency has actually gone up 11 percent since I’ve been president because we have pushed them hard. And we’ve put unprecedented trade pressure on China. That’s why exports have significantly increased under my presidency. That’s going to help to create jobs here.

CROWLEY: Mr. President, we have a really short time for a quick discussion here.

iPad, the Macs, the iPhones, they are all manufactured in China. One of the major reasons is labor is so much cheaper here. How do you convince a great American company to bring that manufacturing back here?

ROMNEY: The answer is very straightforward. We can compete with anyone in the world as long as the playing field is level. China’s been cheating over the years. One by holding down the value of their currency. Number two, by stealing our intellectual property; our designs, our patents, our technology. There’s even an Apple store in China that’s a counterfeit Apple store, selling counterfeit goods. They hack into our computers. We will have to have people play on a fair basis, that’s number one.

Number two, we have to make America the most attractive place for entrepreneurs, for people who want to expand their business. That’s what brings jobs in. The president’s characterization of my tax plan…

(CROSSTALK)

ROMNEY: …is completely…is completely…

(CROSSTALK)

ROMNEY: …is completely false. Let me tell you…

CROWLEY: Let me to go the president here because we really are running out of time. And the question is can we ever get — we can’t get wages like that. It can’t be sustained.

OBAMA: Candy, there are some jobs that are not going to come back. Because they are low wage, low skill jobs. I want high wage, high skill jobs. That’s why we have to emphasize manufacturing. That’s why we have to invest in advanced manufacturing. That’s why we’ve got to make sure that we’ve got the best science and research in the world. And when we talk about deficits, if we’re adding to our deficit for tax cuts for folks who don’t need them, and we’re cutting investments in research and science that will create the next Apple, create the next new innovation that will sell products around the world, we will lose that race.

If we’re not training engineers to make sure that they are equipped here in this country. Then companies won’t come here. Those investments are what’s going to help to make sure that we continue to lead this world economy, not just next year, but 10 years from now, 50 years from now, 100 years from now.

CROWLEY: Thanks Mr. President.

(CROSSTALK)

CROWLEY: Governor Romney?

ROMNEY: Government does not create jobs. Government does not create jobs.

CROWLEY: Governor Romney, I want to introduce you to Barry Green, because he’s going to have the last question to you first?

ROMNEY: Barry? Where is Barry?

QUESTION: Hi, Governor. I think this is a tough question. To each of you. What do you believe is the biggest misperception that the American people have about you as a man and a candidate? Using specific examples, can you take this opportunity to debunk that misperception and set us straight?

ROMNEY: Thank you, and that’s an opportunity for me, and I appreciate it.

In the nature of a campaign, it seems that some campaigns are focused on attacking a person rather than prescribing their own future and the things they’d like to do. In the course of that, I think the president’s campaign has tried to characterize me as — as someone who’s very different than who I am.

I care about 100 percent of the American people. I want 100 percent of the American people to have a bright and prosperous future. I care about our kids. I understand what it takes to make a bright and prosperous future for America again. I spent my life in the private sector, not in government. I’m a guy who wants to help with the experience I have, the American people.

My — my passion probably flows from the fact that I believe in God. And I believe we’re all children of the same God. I believe we have a responsibility to care for one another. I — I served as a missionary for my church. I served as a pastor in my congregation for about 10 years. I’ve sat across the table from people who were out of work and worked with them to try and find new work or to help them through tough times.

I went to the Olympics when they were in trouble to try and get them on track. And as governor of my state, I was able to get 100 percent of my people insured, all my kids, about 98 percent of the adults. I was able also to get our schools ranked number one in the nation, so 100 percent of our kids would have a bright opportunity for a future.

ROMNEY: I understand that I can get this country on track again. We don’t have to settle for what we’re going through. We don’t have to settle for gasoline at four bucks. We don’t have to settle for unemployment at a chronically high level. We don’t have to settle for 47 million people on food stamps. We don’t have to settle for 50 percent of kids coming out of college not able to get work. We don’t have to settle for 23 million people struggling to find a good job.

If I become president, I’ll get America working again. I will get us on track to a balanced budget. The president hasn’t. I will. I’ll make sure we can reform Medicare and Social Security to preserve them for coming — coming generations. The president said he would. He didn’t.

CROWLEY: Governor…

ROMNEY: I’ll get our incomes up. And by the way, I’ve done these things. I served as governor and showed I could get them done.

CROWLEY: Mr. President, last two minutes belong to you.

OBAMA: Barry, I think a lot of this campaign, maybe over the last four years, has been devoted to this nation that I think government creates jobs, that that somehow is the answer.

That’s not what I believe. I believe that the free enterprise system is the greatest engine of prosperity the world’s ever known.

I believe in self-reliance and individual initiative and risk takers being rewarded. But I also believe that everybody should have a fair shot and everybody should do their fair share and everybody should play by the same rules, because that’s how our economy’s grown. That’s how we built the world’s greatest middle class.

And — and that is part of what’s at stake in this election. There’s a fundamentally different vision about how we move our country forward.

I believe Governor Romney is a good man. Loves his family, cares about his faith. But I also believe that when he said behind closed doors that 47 percent of the country considered themselves victims who refuse personal responsibility, think about who he was talking about.

Folks on Social Security who’ve worked all their lives. Veterans who’ve sacrificed for this country. Students who are out there trying to hopefully advance their own dreams, but also this country’s dreams. Soldiers who are overseas fighting for us right now. People who are working hard every day, paying payroll tax, gas taxes, but don’t make enough income.

And I want to fight for them. That’s what I’ve been doing for the last four years. Because if they succeed, I believe the country succeeds.

When my grandfather fought in World War II and he came back and he got a G.I. Bill and that allowed him to go to college, that wasn’t a handout. That was something that advanced the entire country. And I want to make sure that the next generation has those same opportunities. That’s why I’m asking for your vote and that’s why I’m asking for another four years.

CROWLEY: President Obama, Governor Romney, thank you for being here tonight.

On that note we have come to an end of this town hall debate. Our thanks to the participants for their time and to the people of Hofstra University for their hospitality.

The next and final debate takes place Monday night at Lynn (ph) University in Boca Raton, Florida. Don’t forget to watch. Election Day is three weeks from today. Don’t forget to vote.

Good night.

(APPLAUSE)

END

Campaign Headlines October 16, 2012: Barack Obama v. Mitt Romney: Live Blogging the Townhall Second Presidential Debate at Hofstra University in Hempstead, New York

CAMPAIGN 2012

CAMPAIGN BUZZ 2012

THE HEADLINES….

WATCH LIVE: President Obama and Mitt Romney Meet Up for Second Debate

Source: ABC New Radio, 10-16-12

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President Obama and Mitt Romney face off Tuesday night for their second presidential debate at Hofstra University.

Watch the debate LIVE

Campaign Headlines October 16, 2012: Five Things to Watch at Second Presidential Debate

CAMPAIGN 2012

CAMPAIGN BUZZ 2012

THE HEADLINES….

Five Things to Watch at Second Presidential Debate

Source: ABC News Radio, 10-16-12

NICHOLAS KAMM/AFP/Getty Images

Exactly three weeks before voters head to the polls, President Obama and Republican nominee Mitt Romney face-off in Hempstead, N.Y., on Tuesday for the second presidential debate that could again chart a new course for the general election campaign.
In an email to supporters on Monday, Obama for the first time declared the race “tied,” conceding that a lead he held ahead of the first debate has shrunk or disappeared.  Romney, meanwhile, has been touting what he calls a “growing crescendo of enthusiasm” for his campaign.

Tuesday night’s debate — a town hall style showdown — could provide an opportunity for each candidate to gain the edge he desires….READ MORE

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