Matthew Durden Period: 3 October 12, 2012

The first presidential debate was on October 3 at Magness Arena at the University of Denver in Denver, Colorado. Democrat incumbent President Barack Obama and Republican contender Governor Mitt Romney answered questions posed by Jim Lehrer.

It started right off with questions regarding the economy. Each candidate was asked what the major differences between the two of them were and how they would go about creating new jobs. Obama said we all know that we've still got a lot of work to do. Obama said that Romney has the perspective that says if we cut taxes, skewed towards the wealthy, and roll back regulations, that we'll be better off; but, Obama said he had a different view. Obama thinks we've got to invest in education and training and that it's important for us to develop new sources of energy here in America. That we change our tax code to make sure that we're helping small businesses and companies that are investing here in the United States, that we take some of the money that we're saving as we wind down two wars to rebuild America and that we reduce our deficit in a balanced way that allows us to make these critical investments.

Romney said he was concerned that the path we're on has just been unsuccessful. Romney said that Obama’s view that a bigger government, spending more, taxing more, regulating more - trickle-down government -- would work. Romney said that's not the right answer for America. Romney said he would restore the vitality that gets America working again.

Obama talked specifically about what he thinks needs to be done: improve our education by raising standards and improving how we train teachers. He would hire another 100,000 new math and science teachers, and create 2 million more slots in community colleges so that people can get trained for the jobs that are out there right now while keeping tuition low. Obama also wants to lower the corporate tax rate, particularly for manufacturing, taking it down to 25 percent and close loopholes that are giving incentives for companies that are shipping jobs overseas. He also wants to provide tax breaks for companies that are investing here in the United States. Obama also wants to boost American energy production, and said oil and natural gas production are higher than they've been in years. He also wants to look at the energy sources of the future, like wind and solar and biofuels, and make those investments. To do this he said we need to deal with our tax code and reduce spending in a responsible way.

Romney said the middle class is being crushed and in order to get them going the cornerstone of his plan is energy and trade, the right kind of training programs, balancing our budget and helping small business. He also said that education is key particularly the future of our economy. He also wants to bring the tax rates down for both corporations and for individuals and lower deductions and credits and exemptions, so that we keep taking in the same money when accounted for growth. He further stated energy is critical. He will get oil from offshore and Alaska and bring the pipeline in from Canada as well as continue to burn clean coal. Romney said in regards to tax cuts- there would be no tax cut that adds to the deficit; but does want to reduce the burden being paid by middle-income Americans. Romney said this means we cannot reduce the burden paid by high-income Americans.