Summary of Second Presidential Debate:

The second presidential debate was on October 16 at Hofstra University in Hempstead New York. It was a town hall format, in which Democrat incumbent President Barack Obama and Republican contender Governor Mitt Romney answered questions posed by voters. It was moderated by Candy Crowley, the chief political correspondent for CNN.

Can You Reassure Me I Will Be Able to Get a Job When I Graduate?:

Obama: Control alternative energy for the future. Give tax cuts for those who invest in U.S. jobs. Reduce defense spending to build roads, bridges and schools. (Factcheck: Dollar for dollar, public works creates twice as many jobs as defense. For more, see How to Be More Jobs Effective.)

Romney: Keep Pell grant. (Gave few other specifics.)

How Can You Help the Long-term Unemployed?

Romney: Mentioned his 5-point plan: Energy independence, more trade, training, a balanced budget, and championing small businesses. Said it would create 12 million jobs, but didn't say how. Said that Obama allowed the auto companies to go bankrupt.
Obama: If we had let auto companies go bankrupt like Romney said, they would have lost 1 million jobs. Romney's 5-point plan is just a 1-point plan...make sure those at the top keep getting tax breaks.

Isn't It the Job of the Secretary of Energy to Lower Gas Prices?

Obama: It's our job to produce alternative energy, and double fuel efficiency on cars, which will lower our oil imports to the lowest levels in 16 years.

Open up new areas for drilling. Lower demand for energy, will keep gas prices low. Romney's plan is to let oil companies write the energy policy. No alternative energy programs. This won't let us control our own economic future.These are the jobs of the future. I won't cede that to Germany and China, which is creating alternative energy programs.
Romney: Energy development hasn't increased on Federal land. Obama cut the number of licenses and permits in half on Federal land. I will make us energy independent within 8 years with more drilling, more permits, and bringing in the Keystone pipeline.

Is $4 a Gallon the New Normal?:

Obama: We are creating more oil than during the Bush Administration, and more natural gas. We made the largest investment in clean coal technology. We can do both. More fuel efficient vehicles are in demand around the world.

What Is Your Position on Keeping Tax Deductions For the Middle Class?

Romney: Middle income taxpayer will have no taxes on dividends, interest and capital gains if you make $200,000 or less. Highest income taxpayers will still pay 60% of taxes. A recent study showed middle class will pay $4,000 a year more in taxes.
Obama: Middle class has been hit hard over last decade. We have cut taxes on middle class $3,800. Cut taxes on small businesses 18 times. If we must balance the budget, we've got to ask the wealthy to do more. 98% of families, and 97% of small businesses won't have higher taxes. Romney's allies are holding the Bush tax cuts hostage for 2% of the population.

Romney: Reiterated 5-point plan.

Obama: The cost of lowering rates for everyone across the board 20%, plus other tax cuts costs about $5 trillion. Plus he want's to spend an additional $2 trillion for military. $1 trillion in Bush tax cuts to the wealthy. Can't tell you exactly what deductions will get him there. This is additional spending, which will blow up the budget deficit.

In What New Way Will You Rectify Gender and Other Inequalities in the Workplace?:

Obama: We enacted the Ruby Ledbetter bill. Ruby was doing the same job for less, but couldn't bring suit because she didn't bring suit earlier. Bill fixed that.

Romney: Hired women on my cabinet. Will strengthen economy to allow women to have flexible schedule. Obama: Insurance companies must provide contraceptive coverage for women. Economic issue as well as health issue. Romney said employers should make that decision, and we should eliminate funding for Planned Parenthood. Not just women's issues, they are family and economic issues.

Biggest Difference Between Romney and President Bush?

Romney: I advocate energy independence, not true with Bush. Bush didn't crack down on China. (Factcheck: Secretary Paulson worked with China to raise its currency. See Henry Paulson.) Bush deficits were ½ trillion dollars, Obama is $1 trillion, (Romney didn't say what his would be.) Expand trade with Latin America. (Factcheck: Bush oversaw free trade agreements with Chile and Peru.) Romney will help small businesses. (Factcheck: Bush helped small businesses with the Bush tax cuts.)
Obama: Romney pioneered companies that worked closely with China, including spying on their own people. Romney is the last person to get tough on China. We already signed three trade agreements, we won twice as many trade infringments as did Bush, we saved 1,000 jobs with tire infringement. Here's how Romney is different than Bush: Bush didn't want to eliminate funding for Planned Parenthood, didn't advocate vouchers for Medicare, etc.

Mr. President, What Have You Done to Earn My Vote in 2012?:

Obama: I cut taxes for small businesses, I ended the war in Iraq, We went after bin Laden, we put through Obamacare, reined in Wall Street, created 5 million jobs, and saved the auto industry. I am planning for more manufacturing jobs, education, using savings from ending wars to rebuild America and put people back to work, control energy of the future. I fulfilled most of the commitments I made, and the ones I couldn't I'll still keep trying.

Romney: Obama said he'd cut deficit in half, it's doubled. He promised unemployment rate at 5.4%, it's 7.9%. He said the middle class will have their health insurance premiums lowered by $5,400, instead it's doubled...and will double again under Obamacare.

Mr. Romney, What Would You Do With Immigrants Without Their Green Cards?

Romney: Get immigration laws clearer. Give green cards for those with college diplomas. Stop illegal immigration. No amnesty. Employment verification system will sanction those who hire illegals. Children of illegal immigrants can join the military to become legal. Don't give drivers licenses to those who are here illegally, as Obama would.
Obama: Fix broken immigration system, done all I can on my own. 1. Streamline legal immigration system, reduce backlog. 2. Put more border patrol than any time in history. Flow across border is lower than at any time in four years. 3. Go after gangbangers, not students. 4. Children of illegal immigrants, give them a pathway to citizenship. Romney said he would veto the Dream Act and encourage self-deportation. Called Arizona Law the model for the nation. Not true that I didn't try.

Romney: Self deportation lets people make their own choice. Don't give illegals benefits or jobs. Not in favor of rounding them up unless they've committed crimes.

State Department Refused Extra Security to Libya. Why?:

Obama: Beefed up security when it happened, will make people accountable and hunt them down.

Romney: Obama went to a fundraiser right after the attack. His Mideast policy is unraveling.

Crowley: Does the buck stop with Secretary of State Clinton or with the President?

Obama: I was in the Rose Garden and said it was an act of terror. I also greeted the caskets. The suggestion that any of us would play politics when we lost four of own is offensive. (Factcheck: Obama did mention acts of terror, but it isn't clear from the transcript whether he was referring to the Benghazi attack or 9/11. See President's Speech on Libya.)

Mr. President, What Have You Done to Limit Availability of Assault Weapons?:

Obama: Weapons designed for soldiers don't belong on our streets. See if we can get a ban on assault weapons. The conversation should also get at the roots of violence before it occurs.

Romney: Automatic weapons are already illegal. Good schools, two parents in the home, tell kids they should get married before having kids.

Crowley: Why don't you support a ban on assault weapons now? Romney: I agreed with it when I was Governor because both sides were for the ban.

Obama: Romney changed his mind because he sought the endorsement of the NRA. Make sure mentally disturbed don't get weapons. Make sure all children have a chance to succeed. We are working with 46 governors around the country to improve math and science scores. Retraining workers with community college programs around the country. Matching skilled workers with employers looking for them. Romney said hiring more teachers doesn't create more jobs.

What Would You Do to Bring Jobs Back to U.S.?:

Romney: Make America the most attractive for employers to be here. Tell China to raise the value of their currency. Would label China a currency manipulator and put in place tariffs.

Obama:Lower corporate tax rate. Close loopholes that allow companies to deduct expenses when they move to China, close offshore tax advantages. Romney wants to expand offshore tax breaks. His tax plicy will create 800,000 new jobs in China. We are on pace to double our exports, as I promised. Trade deals that ensure American workers get jobs. China's currency has gone up 11% because we pushed them harder.

Crowley: How Would You Convince a U.S. Company to Bring Jobs Back? Romney: Crack down on counterfeiting. Raise China's currency even more. Obama: Some low-wage, low-skill jobs won't come back. But we want high-wage, high-skill jobs, which we'll get through training.

What's the Biggest Misperception the American People Have About You and How Would You Debunk That?

Romney: I care about 100% of the American people, I care about our kids, I've been characterized as one who doesn't care about everyone. I do.
Obama:I don't believe government creates jobs. I believe the private sector is the greatest job creator. And I believe everyone should play by the same rules. I want to fight for those who are working hard, but don't earn enough to pay income taxes. I want to give them an equal opportunity, just like their grandfathers had. (Sources: NBC Presidential Debate, October 16, 2012; New York Times, Transcript of Second Debate, October 16, 2012)

Summary of First Presidential Debate:

On October 3, 2012 the first debate was held in Denver, Colorado. Three of six questions focused on the economy. However, most of the conversation centered around Medicare, Obamacare and the budget. Very little specifically mentioned job creation, even though that was the first question posed. Here's a summary of the First Presidential Debate.

Debate Schedule:

The third and final debate is on October 22 at Lynn University in Boca Raton, Florida. The topics have been announced by Bob Schieffer, CBS News' Chief Washington Correspondent and moderator of Face the Nation. All questions are on foreign policy:

1. America's role in the world.
2. Our longest war - Afghanistan and Pakistan.
3. Red Lines - Israel and Iran.
4. The Changing Middle East and the New Face of Terrorism - Parts I and II.
5. The Rise of China and Tomorrow's World.

There was also a debate on October 11 between Vice-President Joe Biden and the Republican VP nominee, Congressman Paul Ryan in Danville, Kentucky. See a summary of the Vice-Presidential Debate.Article updated October 16, 2012.