TRANSCRIPT: ABC News/Facebook/WMUR Republicans Debate

ROMNEY: May I make a comment?

One -- one, it's -- the continued personal barbs are interesting but unnecessary.

ROMNEY: But number three -- number two, Hillary Clinton and Bill Richardson and Senator Dodd and Senator Biden all made that same argument in Iowa. And Barack Obama blew them away.

And if you think making that argument as a Republican, that you have more experience and you've been around longer in the Senate, that that's somehow going to -- and that you know the cloakroom, the Senate cloakroom, better than he does, that's not going to work.

THOMPSON: It was an Iowa Democratic primary (inaudible).

ROMNEY: You're going to have to have -- you're going to have to have a person...

(LAUGHTER)

MCCAIN: This is an Iowa Democrat primary we're talking about.

ROMNEY: America wants change.

THOMPSON: A lot of independents.

GIBSON: Mr. Mayor?

GIULIANI: I think the problem Barack Obama would have is, first of all, he's never run a city, never run a state, never run a business. I don't think at a time when America's at war, with the major problems that we face, we're going to want someone to get on- the-job experience as the chief executive, never having had that kind of experience.

I do think he's embraced change, but change is a concept. Is it change for good or change for bad?

GIULIANI: Changing, and having higher taxes, in my view, would be very bad for our economy. Changing, and moving toward socialized medicine would be very bad for our health care system.

Changing, by a precipitous withdrawal from Iraq, without considering the consequences -- he voted for giving the enemy a timetable of our retreat in Iraq. Unheard of in a time of war.

So I would say that virtually the same issues that exist between me and, let's say, Hillary Clinton, Barack Obama, John Edwards, they are really issues between Republicans and Democrats.

And in the case of Senator Obama, he really doesn't have the experience, either from the national security point of view or even from just the executive point of view.

GIBSON: Governor Huckabee?

HUCKABEE: Well, I think there would be substantial differences on the Second Amendment, on the sanctity of life, on the role of government, on the idea of local versus federal government. I'm still a 10th Amendment guy and believe that most of these decisions ought to be left to the states.

HUCKABEE: I think there will also be fundamental differences on taxes, whether they ought to go up or down. I think there would be differences on national defense. I think we ought to have the strongest possible military that nobody else on Earth wants to ever even think about engaging in battle.

There would be a number of issues that would be fundamentally different. Probably on same-sex marriage, there would be a difference of opinion between Senator Obama and me.

I mean, I could go through a whole litany of things that would be dramatically different. I think, in fact, it would be fair to say that any one of us would have a very different litany of issues.

But in fairness, since I still have just a little bit of yellow light left, I think we also ought to recognize that what Senator Obama has done is to touch at the core of something Americans want.

They are so tired of everything being horizontal -- left, right, liberal, conservative, Democrat, Republican. They're looking for vertical leadership that leads up, not down.

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