DENVER (AP) -- President Barack Obama says Republican rival Mitt Romney favors cutting a fifth of the Education Department's budget while Romney is countering that Obama directed $90 billion to so-called "green jobs" -- a sum, he says, that would hire 2 million teachers.
The two sparred Wednesday during their first presidential debate on what role government plays in Americans' lives.
Obama says there are challenges that only the federal government can solve. Romney says government should do only what is prescribed in the Constitution and challenges that only have federal solutions, such as national security.
Obama pointed to Romney's running mate, Paul Ryan, whose budget proposals make sharp cuts across the board. Romney retorted that Washington invested in new failed energy research.
DENVER (AP) -- President Barack Obama and Republican rival Mitt Romney are sparring over federal regulations that restrict Wall Street and financial institutions.
Romney is softening his usual anti-regulatory rhetoric, saying government rules are essential in a free economy. But he says the Dodd-Frank law that targeted the financial industry in the wake of the 2008 financial crisis was a mistake.
Romney says the law has "unintended consequences" because it allows banks to grow to the point that they are too big to fail. He says the law's mortgage requirements don't help homeowners.
Obama asks whether anyone thinks the financial crisis occurred because of too much oversight and Wall Street regulation. He says anyone who thinks that was the cause should vote for Romney.
DENVER (AP) -- Republican Mitt Romney is vowing to repeal President Barack Obama's health care law, saying it adds costs to the health system and has led to Medicare cuts.
Romney says in the first presidential debate that Obama spent his energy pushing through a massive health care law rather than trying to fix the struggling economy.
Romney says it's expensive and expensive things hurt families.
Obama says his administration worked on the health care law at the same time he was working to create jobs. He says the law has helped people with pre-existing conditions and those who have children under age 26.
The president counters that he based the law on Romney's own plan when he was governor.
Obama says, quote, "We've seen this model work really well -- in Massachusetts."
DENVER (AP) -- President Barack Obama says the United States is making progress in repairing the struggling economy he inherited when he took office while his Republican rival, Mitt Romney, says the Democratic incumbent favors a "trickle-down government, if you will."
Obama and Romney opened their first of three presidential debates Wednesday with disagreements on how the government could help add jobs.
Obama pointed to progress made in saving Detroit's auto industry and rebuilding the housing market. Romney, meanwhile, says he would take a different path that gets government out of the way for American businesses.
Obama says Romney's plan would cut taxes for high-income workers. Romney says that is incorrect and that wealthy Americans will do just fine regardless whether he or Obama is in the White House.
Romney and Obama spar over taxes
DENVER (AP) -- Republican Mitt Romney and President Barack Obama are tangling over taxes in their first presidential debate.
Romney says that Obama has mischaracterized his tax plan by calling it a $5 trillion tax cut. Obama responded that Romney appears to be backing away from his own plan.
Romney says "everything" Obama said about Romney's tax plan is inaccurate. Most importantly, Romney says his plan will not increase taxes for the middle class, as Obama contends.
Romney says his plan is to provide tax relief by lowering them for all Americans, while eliminating deductions and exemptions in the tax code.
Obama retorts that Romney appears to be saying "never mind" about his own tax plan. Obama says he will lower taxes for middle-class families.