OBAMA: Now Governor Romney had a very different response. While?we were still dealing with our diplomats being threatened, Governor?Romney put out a press release, trying to make political points, and?that's not how a commander in chief operates. You don't turn national?security into a political issue. Certainly not right when it's?happening. And people - not everybody agrees with some of the?decisions I've made. But when it comes to our national security, I?mean what I say. I said I'd end the war in Libya - in - in Iraq,?and I did.

I said that we'd go after al-Qaeda and bin Laden, we have. I?said we'd transition out of Afghanistan, and start making sure that?Afghans are responsible for their own security, that's what I'm doing.?And when it comes to this issue, when I say that we are going to find?out exactly what happened, everybody will be held accountable. And I?am ultimately responsible for what's taking place there because these?are my folks, and I'm the one who has to greet those coffins when they?come home. You know that I mean what I say.

CROWLEY: Mr. President, I'm going to move us along. Governor?

ROMNEY: Thank you Kerry for your question, it's an important?one. And - and I - I think the president just said correctly that?the buck does stop at his desk and - and he takes responsibility for?– for that - for the failure in providing those security resources,?and - and those terrible things may well happen from time to time. I?– I'm - I feel very deeply sympathetic for the families of those who?lost loved ones. And today there's a memorial service for one of?those that was lost in this tragedy. We - we think of their families?and care for them deeply. There were other issues associated with?this - with this tragedy. There were many days that passed before we?knew whether this was a spontaneous demonstration, or actually whether?it was a terrorist attack.

ROMNEY: And there was no demonstration involved. It was a?terrorist attack and it took a long time for that to be told to the?American people. Whether there was some misleading, or instead?whether we just didn't know what happened, you have to ask yourself?why didn't we know five days later when the ambassador to the United?Nations went on TV to say that this was a demonstration. How could we?have not known?

But I find more troubling than this, that on - on the day?following the assassination of the United States ambassador, the first?time that's happened since 1979, when - when we have four Americans?killed there, when apparently we didn't know what happened, that the?president, the day after that happened, flies to Las Vegas for a?political fund-raiser, then the next day to Colorado for another?event, other political event.

I think these - these actions taken by a president and a leader?have symbolic significance and perhaps even material significance in?that you'd hope that during that time we could call in the people who?were actually eyewitnesses. We've read their accounts now about what?happened. It was very clear this was not a demonstration. This wasan attack by terrorists.

And this calls into question the president's whole policy in the?Middle East. Look what's happening in Syria, in Egypt, now in Libya.?Consider the distance between ourselves and - and Israel, the?president said that - that he was going to put daylight between us?and Israel.

We have Iran four years closer to a nuclear bomb. Syria –?Syria's not just a tragedy of 30,000 civilians being killed by a?military, but also a strategic - strategically significant player for?America.

The president's policies throughout the Middle East began with an?apology tour and - and - and pursue a strategy of leading from?behind, and this strategy is unraveling before our very eyes.

CROWLEY: Because we're - we're closing in, I want to still get?a lot of people in. I want to ask you something, Mr. President, and?then have the governor just quickly.

Your secretary of state, as I'm sure you know, has said that she?takes full responsibility for the attack on the diplomatic mission in?Benghazi. Does the buck stop with your secretary of state as far as?what went on here?

OBAMA: Secretary Clinton has done an extraordinary job. But she?works for me. I'm the president and I'm always responsible, and?that's why nobody's more interested in finding out exactly what?happened than I do.

The day after the attack, governor, I stood in the Rose Garden?and I told the American people in the world that we are going to find?out exactly what happened. That this was an act of terror and I also?said that we're going to hunt down those who committed this crime.

And then a few days later, I was there greeting the caskets?coming into Andrews Air Force Base and grieving with the families.

And the suggestion that anybody in my team, whether the Secretary?of State, our U.N. Ambassador, anybody on my team would play politics?or mislead when we've lost four of our own, governor, is offensive.?That's not what we do. That's not what I do as president, that's not?what I do as Commander in Chief.

CROWLEY: Governor, if you want to...

ROMNEY: Yes, I - I...

CROWLEY: ... quickly to this please.

ROMNEY: I - I think interesting the president just said?something which - which is that on the day after the attack he went?into the Rose Garden and said that this was an act of terror.

OBAMA: That's what I said.

ROMNEY: You said in the Rose Garden the day after the attack, it?was an act of terror.

It was not a spontaneous demonstration, is that what you're?saying?

OBAMA: Please proceed governor.

ROMNEY: I want to make sure we get that for the record because?it took the president 14 days before he called the attack in Benghazi?an act of terror.

OBAMA: Get the transcript.

CROWLEY: It - it - it - he did in fact, sir.?So let me - let me call it an act of terror...

OBAMA: Can you say that a little louder, Candy?

CROWLEY: He - he did call it an act of terror. It did as well?take - it did as well take two weeks or so for the whole idea there?being a riot out there about this tape to come out. You are correct?about that.

ROMNEY: This - the administration - the administration?indicated this was a reaction to a video and was a spontaneous?reaction.

CROWLEY: It did.

ROMNEY: It took them a long time to say this was a terrorist act?by a terrorist group. And to suggest - am I incorrect in that regard, on Sunday, the - your secretary –

OBAMA: Candy?

ROMNEY: Excuse me. The ambassador of the United Nations went on?the Sunday television shows and spoke about how –

OBAMA: Candy, I'm –

ROMNEY: - this was a spontaneous –

CROWLEY: Mr. President, let me –

OBAMA: I'm happy to have a longer conversation –

CROWLEY: I know you –

OBAMA: - about foreign policy.

CROWLEY: Absolutely. But I want to - I want to move you on and?also –

OBAMA: OK. I'm happy to do that, too.

CROWLEY: - the transcripts and –

OBAMA: I just want to make sure that –

CROWLEY: - figure out what we –

OBAMA: - all of these wonderful folks are going to have a?chance to get some of their questions answered.

CROWLEY: Because what I - what I want to do, Mr. President,?stand there a second, because I want to introduce you to Nina?Gonzalez, who brought up a question that we hear a lot, both over the?Internet and from this crowd.

QUESTION: President Obama, during the Democratic National?Convention in 2008, you stated you wanted to keep AK-47s out of the?hands of criminals. What has your administration done or planned to?do to limit the availability of assault weapons?

OBAMA: We're a nation that believes in the Second Amendment, and?I believe in the Second Amendment. We've got a long tradition of?hunting and sportsmen and people who want to make sure they can?protect themselves.

But there have been too many instances during the course of my?presidency, where I've had to comfort families who have lost somebody.?Most recently out in Aurora. You know, just a couple of weeks ago,?actually, probably about a month, I saw a mother, who I had met at the?bedside of her son, who had been shot in that theater.

And her son had been shot through the head. And we spent some?time, and we said a prayer and, remarkably, about two months later, this young man and his mom showed up, and he looked unbelievable, good?as new.

But there were a lot of families who didn't have that good?fortune and whose sons or daughters or husbands didn't survive.

So my belief is that, (A), we have to enforce the laws we've?already got, make sure that we're keeping guns out of the hands of?criminals, those who are mentally ill. We've done a much better job?in terms of background checks, but we've got more to do when it comes?to enforcement.

But I also share your belief that weapons that were designed for?soldiers in war theaters don't belong on our streets. And so what I'm?trying to do is to get a broader conversation about how do we reduce?the violence generally. Part of it is seeing if we can get an assault?weapons ban reintroduced. But part of it is also looking at other?sources of the violence. Because frankly, in my home town of Chicago,?there's an awful lot of violence and they're not using AK-47s.?They're using cheap hand guns.

And so what can we do to intervene, to make sure that young?people have opportunity; that our schools are working; that if there's?violence on the streets, that working with faith groups and law?enforcement, we can catch it before it gets out of control.

And so what I want is a - is a comprehensive strategy. Part of?it is seeing if we can get automatic weapons that kill folks in?amazing numbers out of the hands of criminals and the mentally ill.?But part of it is also going deeper and seeing if we can get into?these communities and making sure we catch violent impulses before?they occur.

CROWLEY: Governor Romney, the question is about assault weapons,?AK-47s.

ROMNEY: Yeah, I'm not in favor of new pieces of legislation on?– on guns and taking guns away or making certain guns illegal. We,?of course, don't want to have automatic weapons, and that's already?illegal in this country to have automatic weapons. What I believe is?we have to do, as the president mentioned towards the end of his?remarks there, which is to make enormous efforts to enforce the gun?laws that we have, and to change the culture of violence that we have.

And you ask how - how are we going to do that? And there are a?number of things. He mentioned good schools. I totally agree. We?were able to drive our schools to be number one in the nation in my?state. And I believe if we do a better job in education, we'll –?we'll give people the - the hope and opportunity they deserve and?perhaps less violence from that. But let me mention another thing.?And that is parents. We need moms and dads, helping to raise kids.?Wherever possible the - the benefit of having two parents in the?home, and that's not always possible. A lot of great single moms,?single dads. But gosh to tell our kids that before they have babies,?they ought to think about getting married to someone, that's a great?idea.

Because if there's a two parent family, the prospect of living in?poverty goes down dramatically. The opportunities that the child will?– will be able to achieve increase dramatically. So we can make?changes in the way our culture works to help bring people away from?violence and give them opportunity, and bring them in the American?system. The - the greatest failure we've had with regards to - to?gun violence in some respects is what - what is known as Fast and?Furious. Which was a program under this administration, and how it?worked exactly I think we don't know precisely, where thousands of?automatic, and AK-47 type weapons were - were given to people that?ultimately gave them to - to drug lords.

They used those weapons against - against their own citizens and?killed Americans with them. And this was a - this was a program of?the government. For what purpose it was put in place, I can't?imagine. But it's one of the great tragedies related to violence in?our society which has occurred during this administration. Which I?think the American people would like to understand fully, it's been?investigated to a degree, but - but the administration has carried?out executive privilege to prevent all of the information from coming?out.

I'd like to understand who it was that did this, what the idea?was behind it, why it led to the violence, thousands of guns going to?Mexican drug lords.

OBAMA: Candy?

CROWLEY: Governor, Governor, if I could, the question was about?these assault weapons that once were once banned and are no longer?banned.

I know that you signed an assault weapons ban when you were in?Massachusetts, obviously, with this question, you no longer do support?that. Why is that, given the kind of violence that we see sometimes?with these mass killings? Why is it that you have changed your mind?

ROMNEY: Well, Candy, actually, in my state, the pro-gun folks?and the anti-gun folks came together and put together a piece of?legislation. And it's referred to as an assault weapon ban, but it?had, at the signing of the bill, both the pro-gun and the anti-gun?people came together, because it provided opportunities for both that?both wanted.

There were hunting opportunities, for instance, that haven't?previously been available and so forth, so it was a mutually agreed-?upon piece of legislation. That's what we need more of, Candy. What?we have right now in Washington is a place that's gridlocked.

CROWLEY: So I could - if you could get people to agree to it,?you would be for it?

ROMNEY: We have –

OBAMA: Candy?

ROMNEY: - we haven't had the leadership in Washington to work?on a bipartisan basis. I was able to do that in my state and bring?these two together.

CROWLEY: Quickly, Mr. President.

OBAMA: The - first of all, I think Governor Romney was for an?assault weapons ban before he was against it. And he said that the?reason he changed his mind was, in part, because he was seeking the?endorsement of the National Rifle Association. So that's on the?record.

But I think that one area we agree on is the important of parents?and the importance of schools, because I do believe that if our young?people have opportunity, then they are less likely to engage in these?kinds of violent acts. We're not going to eliminate everybody who is?mentally disturbed and we have got to make sure they don't get?weapons.

(AUDIO GAP)

OBAMA: because I do believe that if our young people have?opportunity, then they're less likely to engage in these kind of?violent acts.

We're not going to eliminate everybody who is mentally disturbed,?and we've got to make sure they don't get weapons. But we can make a?difference in terms ensuring that every young person in America,?regardless of where they come from, what they look like, have a chance?to succeed.

And, Candy, we haven't had a chance to talk about education much,?but I think it is very important to understand that the reforms we've?put in place, working with 46 governors around the country, are seeing?schools that are some of the ones that are the toughest for kids?starting to succeed. We're starting to see gains in math and science.

When it comes to community colleges, we are setting up programs,?including with Nassau Community College, to retrain workers, including?young people who may have dropped out of school but now are getting?another chance, training them for the jobs that exist right now.

And in fact, employers are looking for skilled workers. And so?we're matching them up. Giving them access to higher education. As I?said, we have made sure that millions of young people are able to get?an education that they weren't able to get before.

Now...

CROWLEY: Mr. President, I have to - I have to move you along?here. You said you wanted to...

(CROSSTALK)

CROWLEY: We need to do it here.

OBAMA: But - but it'll - it'll - it'll be...

(CROSSTALK)

OBAMA: ... just one second.

CROWLEY: One...

OBAMA: Because - because this is important. This is part of?the choice in this election.

teachers was important to growing our economy, Governor Romney said?that doesn't grow our economy.

(CROSSTALK)

CROWLEY: The question, Mr. President, was guns here, so I need?to move us along.

OBAMA: I understand.

CROWLEY: You know, the question was guns. So let me - let me?bring in another...

OBAMA: But this will make a difference in terms of whether or?not we can move this economy forward for these young people...

CROWLEY: I understand.

OBAMA: ... and reduce our violence.

CROWLEY: OK. Thank you so much.

I want to ask Carol Goldberg to stand up, because she gets to a?question that both these men have been passionate about. It's for?Governor Romney.

QUESTION: The outsourcing of American jobs overseas has taken a?toll on our economy. What plans do you have to put back and keep jobs?here in the United States?

ROMNEY: Boy, great question and important question, because?you're absolutely right. The place where we've seen manufacturing go?has been China. China is now the largest manufacturer in the world.?It used to be the United States of America. A lot of good people have?lost jobs. A half a million manufacturing jobs have been lost in the?last four years. That's total over the last four years.

One of the reasons for that is that people think it's more?attractive in some cases to go offshore than to stay here. We have?made it less attractive for enterprises to stay here than to go?offshore from time to time. What I will do as president is make sure?it's more attractive to come to America again.

This is the way we're going to create jobs in this country. It's?not by trickle-down government, saying we're going to take more money?from people and hire more government workers, raise more taxes, put in?place more regulations. Trickle-down government has never worked?here, has never worked anywhere.

I want to make America the most attractive place in the world for?entrepreneurs, for small business, for big business, to invest and?grow in America.

Now, we're going to have to make sure that as we trade with other?nations that they play by the rules. And China hasn't. One of the?reasons - or one of the ways they don't play by the rules is?artificially holding down the value of their currency. Because if?they put their currency down low, that means their prices on their?goods are low. And that makes them advantageous in the marketplace.

We lose sales. And manufacturers here in the U.S. making the?same products can't compete. China has been a currency manipulator?for years and years and years. And the president has a regular?opportunity to label them as a currency manipulator, but refuses to do?so.

On day one, I will label China a currency manipulator, which will?allow me as president to be able to put in place, if necessary,?tariffs where I believe that they are taking unfair advantage of our?manufacturers.

So we're going to make sure that people we trade with around the?world play by the rules. But let me - let me not just stop there.?Don't forget, what's key to bringing back jobs here is not just?finding someone else to punish, and I'm going to be strict with people?who we trade with to make sure they - they follow the law and play by?the rules, but it's also to make America the most attractive place in?the world for businesses of all kinds.

That's why I want to down the tax rates on small employers, big?employers, so they want to be here. Canada's tax rate on companies is?now 15 percent. Ours is 35 percent. So if you're starting a?business, where would you rather start it? We have to be competitive?if we're going to create more jobs here.

Regulations have quadrupled. The rate of regulations quadrupled?under this president. I talk to small businesses across the country.?They say, "We feel like we're under attack from our own government."?I want to make sure that regulators see their job as encouraging small?business, not crushing it. And there's no question but that Obamacare?has been an extraordinary deterrent to enterprises of all kinds hiring?people.

My priority is making sure that we get more people hired. If we?have more people hired, if we get back manufacturing jobs, if we get?back all kinds of jobs into this country, then you're going to see?rising incomes again. The reason incomes are down is because?unemployment is so high. I know what it takes to get this to happen,?and my plan will do that, and one part of it is to make sure that we?keep China playing by the rules.

CROWLEY: Mr. President, two minutes here, because we are then?going to go to our last question.

OBAMA: OK. We need to create jobs here. And both Governor?Romney and I agree actually that we should lower our corporate tax?rate. It's too high. But there's a difference in terms of how we?would do it. I want to close loopholes that allow companies to deduct?expenses when they move to China; that allow them to profit offshore?and not have to get taxed, so they have tax advantages offshore.

All those changes in our tax code would make a difference.

Now, Governor Romney actually wants to expand those tax breaks.?One of his big ideas when it comes to corporate tax reform would be to?say, if you invest overseas, you make profits overseas, you don't have?to pay U.S. taxes.

But, of course, if you're a small business or a mom-and-pop?business or a big business starting up here, you've got to pay even?the reduced rate that Governor Romney's talking about.

And it's estimated that that will create 800,000 new jobs. The?problem is they'll be in china. Or India. Or Germany.

That's not the way we're going to create jobs here. The way?we're going to create jobs here is not just to change our tax code,?but also to double our exports. And we are on pace to double our?exports, one of the commitments I made when I was president. That's?creating tens of thousands of jobs all across the country. That's why?we've kept on pushing trade deals, but trade deals that make sure that?American workers and American businesses are getting a good deal.

Now, Governor Romney talked about China, as I already indicated.?In the private sector, Governor Romney's company invested in what were?called pioneers of outsourcing. That's not my phrase. That's what?reporters called it.

And as far as currency manipulation, the currency has actually?gone up 11 percent since I've been president because we have pushed?them hard. And we've put unprecedented trade pressure on China.?That's why exports have significantly increased under my presidency.?That's going to help to create jobs here.

CROWLEY: Mr. President, we have a really short time for a quick?discussion here.

iPad, the Macs, the iPhones, they are all manufactured in China.?One of the major reasons is labor is so much cheaper here. How do you?convince a great American company to bring that manufacturing back?here?

ROMNEY: The answer is very straightforward. We can compete with?anyone in the world as long as the playing field is level. China's?been cheating over the years. One by holding down the value of their?currency. Number two, by stealing our intellectual property; our?designs, our patents, our technology. There's even an Apple store in?China that's a counterfeit Apple store, selling counterfeit goods.?They hack into our computers. We will have to have people play on a?fair basis, that's number one.

Number two, we have to make America the most attractive place for?entrepreneurs, for people who want to expand their business. That's?what brings jobs in. The president's characterization of my tax?plan...

(CROSSTALK)

ROMNEY: ...is completely...is completely...

(CROSSTALK)

ROMNEY: ...is completely false. Let me tell you...?

CROWLEY: Let me to go the president here because we really are?running out of time. And the question is can we ever get - we can't?get wages like that. It can't be sustained.?

OBAMA: Candy, there are some jobs that are not going to come?back. Because they are low wage, low skill jobs. I want high wage,?high skill jobs. That's why we have to emphasize manufacturing.?That's why we have to invest in advanced manufacturing. That's why?we've got to make sure that we've got the best science and research in?the world. And when we talk about deficits, if we're adding to our?deficit for tax cuts for folks who don't need them, and we're cutting?investments in research and science that will create the next Apple,?create the next new innovation that will sell products around the?world, we will lose that race.

If we're not training engineers to make sure that they are?equipped here in this country. Then companies won't come here. Those?investments are what's going to help to make sure that we continue to?lead this world economy, not just next year, but 10 years from now, 50?years from now, 100 years from now.

CROWLEY: Thanks Mr. President.

(CROSSTALK)

CROWLEY: Governor Romney?

ROMNEY: Government does not create jobs. Government does not?create jobs.

CROWLEY: Governor Romney, I want to introduce you to Barry?Green, because he's going to have the last question to you first?

ROMNEY: Barry? Where is Barry?

QUESTION: Hi, Governor. I think this is a tough question. To?each of you. What do you believe is the biggest misperception that?the American people have about you as a man and a candidate? Using?specific examples, can you take this opportunity to debunk that?misperception and set us straight?

ROMNEY: Thank you, and that's an opportunity for me, and I?appreciate it.

In the nature of a campaign, it seems that some campaigns are?focused on attacking a person rather than prescribing their own future?and the things they'd like to do. In the course of that, I think the?president's campaign has tried to characterize me as - as someone?who's very different than who I am.

I care about 100 percent of the American people. I want 100?percent of the American people to have a bright and prosperous future.?I care about our kids. I understand what it takes to make a bright?and prosperous future for America again. I spent my life in the?private sector, not in government. I'm a guy who wants to help with?the experience I have, the American people.?My - my passion probably flows from the fact that I believe in?God. And I believe we're all children of the same God. I believe we?have a responsibility to care for one another. I - I served as a?missionary for my church. I served as a pastor in my congregation for?about 10 years. I've sat across the table from people who were out of?work and worked with them to try and find new work or to help them?through tough times.

I went to the Olympics when they were in trouble to try and get?them on track. And as governor of my state, I was able to get 100?percent of my people insured, all my kids, about 98 percent of the?adults. I was able also to get our schools ranked number one in the?nation, so 100 percent of our kids would have a bright opportunity for?a future.

ROMNEY: I understand that I can get this country on track again.?We don't have to settle for what we're going through. We don't have?to settle for gasoline at four bucks. We don't have to settle for?unemployment at a chronically high level. We don't have to settle for?47 million people on food stamps. We don't have to settle for 50?percent of kids coming out of college not able to get work. We don't?have to settle for 23 million people struggling to find a good job.

If I become president, I'll get America working again. I will?get us on track to a balanced budget. The president hasn't. I will.?I'll make sure we can reform Medicare and Social Security to preserve?them for coming - coming generations. The president said he would.?He didn't.

CROWLEY: Governor...

ROMNEY: I'll get our incomes up. And by the way, I've done?these things. I served as governor and showed I could get them done.

CROWLEY: Mr. President, last two minutes belong to you.

OBAMA: Barry, I think a lot of this campaign, maybe over the?last four years, has been devoted to this nation that I think?government creates jobs, that that somehow is the answer.

That's not what I believe. I believe that the free enterprise?system is the greatest engine of prosperity the world's ever known.

I believe in self-reliance and individual initiative and risk?takers being rewarded. But I also believe that everybody should have?a fair shot and everybody should do their fair share and everybody?should play by the same rules, because that's how our economy's grown.?That's how we built the world's greatest middle class.

And - and that is part of what's at stake in this election.?There's a fundamentally different vision about how we move our country?forward.

I believe Governor Romney is a good man. Loves his family, cares?about his faith. But I also believe that when he said behind closed?doors that 47 percent of the country considered themselves victims who?refuse personal responsibility, think about who he was talking about.

Folks on Social Security who've worked all their lives. Veterans?who've sacrificed for this country. Students who are out there trying?to hopefully advance their own dreams, but also this country's dreams.?Soldiers who are overseas fighting for us right now. People who are?working hard every day, paying payroll tax, gas taxes, but don't make?enough income.

And I want to fight for them. That's what I've been doing for?the last four years. Because if they succeed, I believe the country?succeeds.

When my grandfather fought in World War II and he came back and?he got a G.I. Bill and that allowed him to go to college, that wasn't?a handout. That was something that advanced the entire country. And?I want to make sure that the next generation has those same?opportunities. That's why I'm asking for your vote and that's why I'm?asking for another four years.

CROWLEY: President Obama, Governor Romney, thank you for being?here tonight.

On that note we have come to an end of this town hall debate.?Our thanks to the participants for their time and to the people of?Hofstra University for their hospitality.

The next and final debate takes place Monday night at Lynn (ph)?University in Boca Raton, Florida. Don't forget to watch. Election Day is three weeks from today. Don't forget to vote.

Good night.