Round 2 goes to Obama; slams Romney's outsourcing plans

October 17, 2012

obama-romney-debate-round

Washington, October 17: A decidedly more aggressive President Barack Obama went on the offensive right from the word go as he clashed with Republican challenger Mitt Romney over their conflicting visions in their second encounter.

Romney, who by all accounts bested the president in their first encounter two weeks ago to put his campaign on an upswing, in turn used Tuesday night's pivotal second encounter at Hofstra University in Long Island, New York, to recount a litany of Obama's own failings as president.outs

Meeting just three weeks before the Nov 6 presidential poll, the two contenders went at each other often on topics ranging from the economy, taxes and outsourcing to energy, women's rights and immigration in a tension filled exchange.

Coming into his own, Obama did not disappoint his supporters and aides who wanted him to put in a "stronger, more assertive performance" at the second debate after his admittedly bad night at Denver to hand over to his rival an advantage that he had enjoyed for weeks.

Debate watchers were divided on who won Tuesday night's debate with 46 percent in a CNN/ORC International survey saying Obama won the debate, while 39 percent said Romney fared better. The seven-point margin falls within the poll's sampling error.

As many as 73 percent said Obama did better than expected, compared to 37 percent who said the same about Romney.

The results offer a stark contrast from the first presidential showdown Oct 3, when 67 percent of debate watchers said Romney fared better while 25 percent said Obama won the debate.

But how far his aggressive performance would help Obama get back into the game is yet to be seen with most media reports describing the race for the White House as either a virtual tie or Obama's to lose.

A National Poll Average by Real Clear Politics, an influential political news aggregator, show Romney just 0.4 percentage points ahead with 47.4 percent to Obama's 47 percent.

But Obama still enjoys 201 to 191 vote advantage over Romney with 146 votes too close to call in the 538 strong Electoral College. It takes 270 votes to win the White House.

During the town hall format debate, where 82 uncommitted voters picked by Gallup

Organization got to ask the questions, Obama mocked Romney's five-point economic plan saying: "Governor Romney says he's got a five-point plan. Governor Romney doesn't have a five-point plan."

"He has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules," he said. "That's been his philosophy in the private sector. That's been his philosophy as a governor. And that's been his philosophy as a presidential candidate."

Romney shot back that Obama was "great as a speaker, but his policies don't work."

"That's what this election is all about," Romney said, saying he would prioritise middle class growth. "It's about how we can get the middle class of this country a bright and prosperous future."

The two also clashed over the Sep 11 terrorist attack on the US consulate in Benghazi, Libya that killed four Americans, with Romney suggesting the Obama administration played politics by failing to immediately acknowledge what happened.

Obama shot back that the suggestion anyone in his administration would play politics on such an issue was "offensive". When Obama said he called it a terrorist attack the very next day, Romney challenged him, and Obama responded "check the transcript".

Moderator Candy Crowley, the CNN chief political correspondent, cut in to say both men were right -- Obama called it a terrorist attack when he said he did, but the administration took longer to fully explain what occurred.



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News Network
May 11,2020

Kabul, May 11: Four back-to-back roadside bombs exploded in a northern district of Afghanistan's capital Kabul on Monday, wounding four civilians including a child, police said. Kabul police spokesman Ferdaws Faramarz said a clearance team was at the site of the attacks.

Militants have carried out several roadside bombings and rocket attacks in Kabul and other parts of the country in recent weeks, but Monday's four consecutive explosions appeared to be the first coordinated effort for some months.

The Taliban has not carried out any large attacks in the city since they signed a landmark withdrawal deal with the US in February, meant to pave the way for peace in the country. No group has claimed the attacks. The explosions come as authorities are trying to impose a lockdown in the capital to curb the spread of coronavirus in the country.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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News Network
February 9,2020

Beijing, Feb 9: After making sure everyone's face mask is on and sanitizer is to hand, the Qiao family heads out to Jingshan Park, a former royal sanctuary beside the Forbidden City in China's capital Beijing.

Snow has fallen for a second day, a rare event in the city of 21.5 million that would normally bring hundreds of thousands of people out to take photos and play. But the streets are empty and the parks are so quiet the only sound is of birds chirping.

It's not just Beijing. Shanghai, China's financial hub, and other cities in the world's most populous nation have turned into ghost towns after the government extended a holiday and asked residents not to go out because of the coronavirus.

"We know the situation of the coronavirus is severe. But the epicentre is far away, so we think it should be fine here ... It's a God-given chance to enjoy this family moment with snow and without work," said Mr Qiao, who has an 11-year-old daughter.

The epidemic has killed 722 people and infected nearly 32,000 in China as of February 8. More than three-quarters of the cases are in the central Hubei province where the virus originated - more than 1,000 km (620 miles) from Beijing.

Only a few people are brave enough to come out. A security guard at Jingshan Park said there were less than a third of the number of tourists than usual, even with the rare snowfall.

Even at one of the best spots for snapping photos of snowy Beijing just outside the Forbidden City, there's barely a crowd, while the usual tour buses and groups of people speaking different dialects are nowhere to be seen.

"Last year when it snowed, I took a few hours off work to come down here to take a picture and the crowd was several layers deep," said a man in his 30s who gave his surname as Yang. "But this year, I am not at all worried about finding a space to take a photo. The virus is keeping people indoors."

Security guards along Wangfujing street, a popular pedestrianised shopping area in downtown Beijing, said it was normally so crowded during the holiday period that it was hard to move around.

"Look at it now, there are more security guards and street cleaners than tourists!" said one of the guards.

Businesses, including shops, bars and restaurants, have been severely hit by the epidemic as the government has banned mass gatherings and even group meals in an effort to curb the spread of the coronavirus.

"You would have to wait outside for a table on a normal day," said a waitress at a restaurant with more than 50 tables. Just five were taken at the peak lunch hour.

Only a handful of the more than 100 restaurants along Beijing's famous food street, Guijie, were open, and the remaining outlets were wondering how long they can hold out.

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