First Presidential Debate Centers on Economic Concerns
October 04, 2012
Republican presidential nominee Mitt Romney and President Barack Obama shake hands after the first presidential debate at the University of Denver, in Colorado, Oct. 3, 2012.p
This is the VOA Special English Economics Report.
President Obama and Republican Party presidential candidate Mitt Romney debated each other for the first time Wednesday night. The debate was held at the University of Denver in Colorado.
Experts say the American economy is the top issue of the election campaign. And the debate centered on economic concerns.
Mr. Obama started by noting that, when he took office, the United States was having its most severe economic crisis since the nineteen thirties. He said that, in the past thirty months, five million jobs had been created in private industry. But he admitted a lot remains to be done.
One of the big questions of the campaign is how best to reduce the federal budget deficit. Mr. Romney has proposed lowering taxes as a way to lift economic growth. But the former Massachusetts governor sharply disagreed with Mr. Obama’s descriptions of his tax cut plan.
"I'm not looking for a five-trillion-dollar tax cut. What I have said is I won't put in place a tax cut that adds to the deficit. That's part one. So there's no economist can say Mitt Romney's tax plan adds five trillion dollars if I say I will not add to the deficit with my tax plan."
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