Obama and Romney: Where they stand on the issues

Friday - 11/2/2012, 11:57am EDT

By CALVIN WOODWARD
Associated Press

WASHINGTON (AP) - A look at where Democratic President Barack Obama and Republican presidential rival Mitt Romney stand on a selection of issues, in brief:

ABORTION and BIRTH CONTROL:

Obama: Supports access to abortion. Health care law requires contraceptives to be available for free for women enrolled in workplace health plans.

Romney: Opposes abortion except in cases of rape, incest or risk to the woman's life. Previously supported abortion access. Says state law should guide abortion rights, and Roe v. Wade should be reversed by a future Supreme Court ruling. Said he would end federal aid to Planned Parenthood.

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DEBT:

Obama: Promises to cut projected deficits by $4 trillion over 10 years, a goal that will require Congress to raise the capital gains tax, boost taxes on households earning more than $250,000 a year, impose a minimum 30 percent tax on incomes above $1 million, and more. Failed in first-term pledge to cut deficit he inherited by half; recently completed budget year marked fourth consecutive year of trillion-dollar-plus red ink.

Romney: Promises to cut $500 billion per year from the federal budget by 2016 to bring spending below 20 percent of the U.S. economy and to balance it by 2020, but vital specifics are lacking. At same time would increase military spending, reverse $716 billion in Medicare cuts and cut taxes. Favors constitutional balanced budget amendment.

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ECONOMY:

Obama: Term marked by a deep recession that began in previous administration and officially ended within six months, and gradual recovery with persistently high jobless rates of above 8 percent until the last two months of the campaign. Mixed jobs report for October showed unemployment rising to 7.9 percent from 7.8 percent in September, but strong hiring as more people started looking for work. Obama responded to recession with a roughly $800 billion stimulus plan, expanded auto industry bailout begun under George W. Bush, inherited and carried forward Wall Street bailout.

Romney: Lower taxes, less regulation, balanced budget, more trade deals to spur growth. Replace jobless benefits with unemployment savings accounts. Proposes replacing certain provisions of the law toughening financial-industry regulations after the meltdown in that sector. Proposes changing the law tightening accounting corporate regulations to ease requirements for mid-sized companies.

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EDUCATION:

Obama: Has approved waivers freeing states from the most onerous requirements of the Bush-era No Child Left Behind law. "Race to the Top" grant competition has rewarded winning states with billions of dollars for pursuing education policies Obama supports. Won approval from Congress for a $10,000 college tax credit over four years and increases in Pell Grants and other financial aid.

Romney: Supported federal accountability standards of No Child Left Behind law. Has said the student testing, charter-school incentives and teacher evaluation standards of Obama's "Race to the Top" competition "make sense" although the federal government should have less control of education. Says increases in federal student aid encourage tuition to go up, too. Wants to see private lenders return to the federal student loan program.

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ENERGY and ENVIRONMENT:

Obama: Ordered temporary moratorium on deep-water drilling after the massive BP oil spill in the Gulf of Mexico, but U.S. produced more oil in 2010 than it has since 2003 and all forms of energy production have increased under Obama. Achieved historic increases in fuel economy standards that will save money at the pump while raising the cost of new vehicles. Achieved first-ever regulations on heat-trapping gases blamed for global warming and on toxic mercury pollution from power plants. Spent heavily on green energy and has embraced nuclear power as a clean source. Failed to persuade a Democratic Congress to pass limits he promised on carbon emissions. Set goal of cutting oil imports by half by 2020.

Romney: Pledges U.S. will become independent of energy sources outside of North America by 2020, through more aggressive exploitation of domestic oil, gas, coal and other resources and quick approval of Keystone XL pipeline from Canada. Supports opening Atlantic and Pacific outer continental shelves to drilling, as well as Western lands, Arctic National Wildlife Refuge and offshore Alaska. Says green power has yet to become viable and causes of climate change are unproved.

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FOREIGN POLICY:

Obama: Opposes near-term military strike on Iran but holds that option open if it proves the only way to stop Iran from getting nuclear weapons. Declined to repeat the Libya air power commitment for Syrian opposition, instead seeks international pressure against Syrian government. Chastised Israel for continuing to build housing settlements in disputed areas and pressed both sides to begin a new round of peace talks based on land borders established after 1967 Arab-Israeli conflict. Signed law to expand military and civilian cooperation with Israel. Sought penalties against China for unfair trade but opposes branding China a currency manipulator.