Obama, Romney wrangle over differing tax plans, health care

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by Associated Press

KREM.com

Posted on October 3, 2012 at 3:29 PM

Updated Wednesday, Oct 3 at 11:40 PM

DENVER -- President Barack Obama and Republican rival Mitt Romney are sparring in the first presidential debate over their differing approaches to growing the economy and health care.

Obama says that Romney's tax agenda would not reduce the deficit. He says it would include a massive tax cut for the wealthy and more military spending.

The president is citing former President Bill Clinton, suggesting the nation should return to the Clinton-era tax rates he says would lead to economic growth.

Obama says simple "math" and "common sense" show Romney's approach is not a recipe for job growth.

Romney says virtually everything Obama says about his tax plan is inaccurate. Romney says his plan will cut taxes, reduce spending and grow the economy.

Romney says, quote, "I will lower taxes on middle income families."

Obama says Romney would turn Medicare into a private system and put seniors at the mercy of insurance companies. Romney counters that the incumbent Democrat already has raided the Medicare fund and weakened the system.

Obama and Romney clashed Wednesday during their first presidential debate on the popular -- though costly -- health program for seniors. Both promised that they would not cut benefits for older Americans but sharply disagreed about options for younger workers.

Obama says he is cutting down on excessive payments in the system so the program survives for future generations.

Romney calls those cuts a slashing from seniors' care to pay for Democrats' health care law.

Romney, however, didn't mention that his running mate, Paul Ryan, proposed similar cuts.
 

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