Transcript And Audio: Third Presidential Debate

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Mitt Romney and President Obama debate Monday in Boca Raton, Fla., with moderator Bob Schieffer.

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October 22, 2012

Transcript of the third debate between President Obama and Republican nominee Mitt Romney, Oct. 22 in Boca Raton, Fla., moderated by Bob Schieffer of CBS. Source: Federal News Service

Editor's Note: NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future.

BOB SCHIEFFER: Good evening from the campus of Lynn University here in Boca Raton, Florida. This is the fourth and last debate of the 2012 campaign, brought to you by the Commission on Presidential Debates. This one's on foreign policy. I'm Bob Schieffer of CBS News. The questions are mine, and I have not shared them with the candidates or their aides.

The audience has taken a vow of silence — no applause, no reaction of any kind except right now when we welcome President Barack Obama and Governor Mitt Romney. (Sustained cheers, applause.)

Gentlemen, your campaigns have agreed to certain rules and they are simple. They have asked me to divide the evening into segments. I'll pose a question at the beginning of each segment. You will each have two minutes to respond, and then we will have a general discussion until we move to the next segment.

Tonight's debate, as both of your know, comes on the 50th anniversary of the night that President Kennedy told the world that the Soviet Union had installed nuclear missiles in Cuba — perhaps the closest we've ever come to nuclear war. And it is a sobering reminder that every president faces at some point an unexpected threat to our national security from abroad. So let's begin.

Via: NPR

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The Childishness of the American Left

The American left is the most self-indulgent, arrogant, and spoiled group of people on the face of the earth.  They live in a nation facing national bankruptcy and societal upheaval -- a country presently subsisting on the residue of past economic achievements.  Yet the only things that matter to them are their lifestyles and imposing their self-determined superiority on rest of the American people.

The true indebtedness of the United States now exceeds $222 trillion.  Appearing on National Public Radio in August of 2011 Professor Laurence J. Kotlikoff of Boston University said:

If you add up all the promises that have been made for spending obligations, and subtract all the taxes we expect to collect, the difference is $211 Trillion.  This is the fiscal gap.  That is our true indebtedness.

Since that interview, the indebtedness has increased by another $11 trillion.  Yet these estimates do not include the full impact of ObamaCare, which could add another $17+ trillion.  On the other side of the ledger: the annual Gross Domestic Product (the value of all economic activity in the U.S.) is $15.6 trillion.  The indebtedness to GDP ratio is a staggering 14.2 to 1 and guaranteed to further accelerate if Barack Obama is re-elected.

The United States is not facing bankruptcy, it is bankrupt.  The primary factor that has kept the nation afloat over the past four years is that the dollar, albeit temporarily, remains the world's reserve currency, thus allowing the Federal Reserve to print enormous sums of money to cover the Obama budget deficits and flood the global market with near worthless cash.  Today itrequires $100.00 to purchase the same goods $10.00 purchased in 1950.

Via: American Thinker

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