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Obama, Romney clash over economy in face-to-face debate
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IANS | 04 Oct, 2012
US President Barack Obama and his Republican challenger Mitt Romney
Wednesday fought over economic topics including job creation and the
government deficit during their first presidential debate held in
Denver, Colorado.
President Barack Obama, from the Democratic
Party, who is seeking his re-election, said the US has been back to
economic growth and job creation, as the nation's private sector has
created about 5 million job opportunities in the past 30 months,
reported Xinhua.
"I also want to close those loopholes that are
giving incentives for companies that are shipping jobs overseas. I want
to provide tax breaks for companies that are investing here in the
United States," he said.
The US should strengthen the middle
class to bolster the economic recovery, and reduce the government's
deficit in a balanced way including cutting government outlays and tax
increase that were strongly opposed by Mitt Romney, Obama stressed.
The
Republican challenger Romney blasted Obama on his failed economic
policies, which Romney said had led to higher gasoline and food prices,
lower US household income and spiked federal government debt.
Romney
stressed his five-point plan to create millions of new jobs in the next
four years, including achieving North America's energy independence,
opening new foreign markets for US goods and services, slashing
government spending and reducing taxes on small businesses.
Obama
and Romney will hold three debates Oct 3, Oct 16 and Oct 22 before the
election day, while US Vice President Joe Biden and Romney's running
mate Paul Ryan will hold a debate Oct 11.
Experts believe that
the US economy has revamped over the past four years despite lingering
challenges for the nation including high unemployment rate hovering at
8.1 percent and slow economic growth pace at 1.3 percent in the second
quarter of this year.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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