Obama vs. Romney: The Rematch

Inside the second face-off between Republican nominee Mitt Romney and President Obama.
3:00 | 10/16/12

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Transcript for Obama vs. Romney: The Rematch
Well, that was a fierce debate. A heated showdown as president obama and his republican challenger mitt romney met on stage in a fiery second hall in a townhall-style debate. 29 days until election day. The presidentooking to make a comeback after the lackluster showing flast debate shifted the polls in romney's favor across the country. Tonight, both candidates came out ready for a fight. And here's how it all happened. Candy, what governor romney said just isn't true. It was a real scrap. From the outset, both men went on the attack. Mitt romney hammering home his basic campaign theme. The president's policies have been exercised over the last few years and they haven't put americans back to work. This time president obama was ready, attacking crisply and frankly. Governor romney says he has a five-plan, no, he has a one-point plan. That is to make sure that folks at the top play by dave set of rules. Within the first 20 minutes as they argued about the president's record on energy they almost seemed to want to wrestle each other. We are now -- and production on government land is down. No, it isn't. Of oil is down 14%. And production -- what you're sayings just not true. They really don't like each other. Mr. President, have you looked at your pension? No, it's not as big as yours. Again and again, clearly a strategy the president essentially called romney dishonest. Not true, governor romney. That's not true. Romney was something of an alpha male out there, trying to take command of the stage and time, once even silencing the president. You'll get your chance in a moment. I'm still speaking. Overshadowing the debate, looming over the proceedings -- the game changing first encounter between these men two weeks ago. As a president you have your own president and own house, not your own facts. Romney was crisp, clear and energetic even as he baldly reinvented himself as a moderate after campaigning for a year with a very different message. I was a severely conservative republican governor. But in denver, on that debate stage, president obama failed utterly to counterpunch, looking down, avoiding eye contact and any real confrontation, disinterested, even disheartened. I said I'm not a perfect man and I wouldn't be a perfect president and that's probably a promise governor romney think I've kept. The repercussions of that night proved tectonic. Thank you, thank you. On the campaign trail romney is generating big crowds and new enthusiasm. Republicans are stoked. Key groups, especially women, are moving into his camp and he knows why. I had a debate about a week ago. I enjoyed that a great deal. I got to be honest. President obama, stung by criticism and some self-criticism ratcheted up his intensity on the stump and is drawing big crowds. I still believe in you and i thoep you still believe in me. We'll finish what we started. The president's supporters got a boost from the debate with paul ryan. That is a bunch of malarkey. Obama himself made clear to diane sawyer he knew what he had to do. Is it possible you handed him the election that night? No. You're going to win? Yes. Tonight, could you see that determination, competitive fire. You're the last person who will get tough on china. Romney didn't back down and he adroitly turned the debate ck again and again to the grim statistics of the great recession and the recovery. He's great as a speaker and describing his plans and his vision, that's wonderful, except we have a record to look at. On libya, romney may have stumbled, claiming it took the president 14 days to recognize the attack as a terrorist incident. I think it's interesting that the president said on the day of the attack whept on the rose garden and said this was an act of terror. That's what I did. You said in the rose garden, the day after the attack it was an act of terror? It was not a spontaneous demonstration? Please proceed, governor. I want to make sure get that for the record because it took the president 14 days before he called the attack in benghazi an act of terror. Get the transcript. He did in fact, sir. At the very end with president obama winning a coin toss and getting the last word, he used it to hammer mitt romney on his infamous comments about the 47% of americans he described as victims. Think about who he was talking about. Folks on social security who worked all their lives, veterans, who sacrificed for this country. Students who are out there, trying to hopefully advance their own dreams but also this country's dreams. 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.

This transcript has been automatically generated and may not be 100% accurate.

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