Second Presidential Debate Full Transcript

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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.

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