Menu

MILITARY

Obama and Romney: Where they stand on the issues

A look at where Democratic President Barack Obama and Republican presidential hopeful Mitt Romney stand on a selection of issues:

OBAMA:

Abortion and birth control: Supports abortion rights. Health care law requires contraceptives to be available for free for women enrolled in workplace health plans, including access to morning-after pill, which does not terminate a pregnancy but is considered tantamount to an abortion pill by some religious conservatives. Supported requiring girls 16 and under to get a prescription for the morning-after pill, available without a prescription for older women.

___

Debt: A fourth-straight year of trillion-dollar deficits is projected. Federal spending is estimated at 23.5 percent of gross domestic product this year, up from about 20 percent in the previous administration, and is forecast to decline to 21.8 percent by 2016. Won approval to raise debt limit to avoid default. Calls for tackling the debt with a mix of spending cuts and revenue increases. Central to Obama's plan is to let Bush-era tax cuts expire for couples making more than $250,000. That would generate more than $700 billion over 10 years. Also, would set a 30 percent tax rate on taxpayers making more than $1 million, increasing taxes for some but not all millionaires and billionaires. That would generate about $47 billion over 10 years. Reached agreement with congressional Republicans to cut $487 billion in military spending over a decade.

___

Economy: Term marked by high unemployment, a deep recession that began in previous administration and officially ended within six months, and gradual recovery with persistently high jobless rates. Unemployment rate jumped to 8.3 percent from 7.8 percent in February 2009, Obama's first full month in office, and has remained above 8 percent ever since. The 38-month stretch of unemployment above 8 percent is the longest on records dating to 1948. But employers have added 3.6 million jobs since job creation turned steadily positive in March 2010. Businesses have added jobs for 25 straight months, pushing down the unemployment rate from 9.8 percent in March 2010 to 8.2 percent two years later. Responded to recession with a roughly $800 billion stimulus plan that nonpartisan Congressional Budget Office estimated cut the unemployment rate by 0.7 to 1.8 percentage points. Continued implementation of Wall Street and auto industry bailouts begun under George W. Bush. Proposes tax breaks for U.S. manufacturers producing domestically or repatriating jobs from abroad, and tax penalties for U.S. companies outsourcing jobs. Won approval of South Korea, Panama and Colombia free-trade pacts begun under previous administration, completing the biggest round of trade liberalization since the North American Free Trade Agreement and other pacts of that era.

___

Education: Has approved waivers freeing states from the most onerous requirements of the Bush-era No Child Left Behind law with their agreement to improve how they prepare and evaluate students. "Race to the Top" competition has rewarded winning states with billions of dollars for pursuing education policies Obama supports. Won approval for a college tax credit worth up to $10,000 over four years and more money for Pell grants for low-income college students. Wants Congress to agree to reduce federal aid to colleges that go too far in raising tuition.

___

Energy and Environment: Ordered temporary moratorium on deep-water drilling after the massive BP oil spill in the Gulf of Mexico but has pushed for more oil and gas drilling overall. Approved drilling plan in Arctic Ocean opposed by environmentalists. Proposes Congress give oil market regulators more power to control price manipulation by speculators and stiffer fines for doing so.

Achieved historic increases in fuel economy standards for automobiles 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. Shelved plan to toughen health standards on lung-damaging smog. Rejected Keystone XL oil pipeline from Canada to Texas but supports fast-track approval of a segment of it. Proposes ending subsidies to oil industry but has failed to persuade Congress to do so.

___

Gay rights: Once opposed federal recognition of same-sex marriage, later said his views were "evolving" and has not taken a position on that since. Opposes constitutional amendment to ban it. Supports civil unions and letting states decide about marriage. Switched positions on Defense of Marriage Act, which denies federal recognition of same-sex marriages and gives states the right to refuse to recognize such marriages. Once a supporter of the law, in 2008 he said he favored its repeal. The law remains, but his Justice Department no longer defends the statute's constitutionality. Achieved repeal of the military ban on openly gay service members.

___

Health care: Achieved landmark overhaul putting U.S. on path to universal coverage if the Supreme Court upholds the heath care law and its mandate for almost everyone to obtain insurance. Under the law, insurers will be banned from denying coverage to people with pre-existing illness, tax credits for middle-income and low-income people will subsidize premiums, people without work-based insurance will have access to new markets, small business gets help for offering insurance and Medicaid will be expanded, with the biggest changes starting in 2014. "Nobody is going to go broke just because they get sick. And Americans will no longer be denied or dropped by their insurance companies just when they need care the most. That's what change is."

___

Immigration: Failed to deliver on a promised immigration overhaul, with the defeat of legislation that would have created a path to citizenship for young illegal immigrants enrolled in college or enlisted in the armed forces. Says he is still committed to it. Government has deported a record number of illegal immigrants under Obama, nearly 400,000 in each of the last three years.

___

Social Security: Has not proposed a comprehensive plan to address Social Security's long-term financial problems. During budget negotiations in 2011, proposed adopting a new measurement of inflation that would reduce annual increases in Social Security benefits. The proposal would reduce the long-term financing shortfall by about 25 percent, according to the Social Security actuaries.

___

Taxes: Wants to raise taxes on the wealthy and ensure they pay 30 percent of their income at minimum. Supports extending Bush-era tax cuts for everyone making under $200,000, or $250,000 for couples. But in 2010, agreed to a two-year extension of the lower rates for all. Wants to let the top tax rates go back up 3 to 4 points to 39.6 percent and 36 percent, and raise rates on capital gains and dividends for the wealthy. Health care law provides for tax on highest-value health insurance plans. Together with Congress, built a first-term record of significant tax cuts for families and business, some temporary.

___

Terrorism: Approved the raid that found and killed Osama bin Laden, set policy that U.S. would no longer use harsh interrogation techniques, a practice that had essentially ended later in George W. Bush's presidency. Largely carried forward Bush's key anti-terrorism policies, including detention of suspects at Guantanamo Bay despite promise to close the prison. Also has continued with military commissions instead of civilian courts for detainees and invocation of state secrets privilege in court. Expanded use of unmanned drone strikes against terrorist targets in Pakistan and Yemen.

___

War: Ended the Iraq war he had opposed and inherited, increased the U.S. troop presence in Afghanistan then began drawing down the force with a plan to have all out by the end of 2014. Approved use of U.S. air power in NATO-led campaign that helped Libyan opposition topple Moammar Gadhafi's government. Major reductions coming in the size of the Army and Marine Corps as part of agreement with congressional Republicans to cut $487 billion in military spending over a decade. Declined to repeat the Libya air power commitment for Syrian opposition. Opposes a near-term military strike on Iran, either by the U.S. or by Israel, to sabotage nuclear facilities that could be misused to produce a nuclear weapon. Says the U.S. will never tolerate a nuclear-armed Iran but negotiation and pressure through sanctions are the right way to prevent that outcome. Reserves the right to one day conclude that only a military strike can stop Iran from getting the bomb.

___

ROMNEY:

Abortion and birth control: Opposes abortion rights. Previously supported them. Says state law should guide abortion rights, and Roe v. Wade should be reversed by a future Supreme Court. But says Roe v. Wade is law of the land until that happens, and should not be challenged by federal legislation seeking to overturn abortion rights affirmed by that court decision. "So I would live within the law, within the Constitution as I understand it, without creating a constitutional crisis. But I do believe Roe v. Wade should be reversed to allow states to make that decision." Said he would end federal aid to Planned Parenthood.

___

Debt: Defended 2008 bailout of financial institutions as a necessary step to avoid the system's collapse, opposed the bailout of General Motors and Chrysler and said any such aid should not single out specific companies. Would cap federal spending at 20 percent of gross domestic product by end of first term. Stayed silent on the debt-ceiling deal during its negotiation, only announcing his opposition to the final agreement shortly before lawmakers voted on it. Instead, endorsed GOP "cut, cap and balance" bill that had no chance of enactment. Favors constitutional balanced budget amendment. Proposes broad but largely unspecified cuts in federal spending. Among the few details: 10 percent cut in federal workforce, elimination of $1.6 billion in Amtrak subsidies and cuts of $600 million in support for the arts and broadcasting.

___

Economy: Lower taxes, less regulation, balanced budget, more trade deals to spur growth. Replace jobless benefits with unemployment savings accounts. Proposes repeal of the (Dodd-Frank) law toughening financial-industry regulations after the meltdown in that sector. Proposes repealing the (Sarbanes-Oxley) law tightening accounting regulations in response to corporate scandals, to ease the accountability burden on smaller businesses. "We don't want to tell the world that Republicans are against all regulation. No, regulation is necessary to make a free market work. But it has to be updated and modern."

___

Education: Supported the federal accountability standards of No Child Left Behind law. In 2007, said he was wrong earlier in career when he wanted the Education Department shut because he came to see the value of the federal government in "holding down the interests of the teachers' unions" and putting kids and parents first. 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.

___

Energy and environment: Supports opening the Atlantic and Pacific outer continental shelves to drilling, as well as Western lands, the Arctic National Wildlife Refuge and offshore Alaska; and supports exploitation of shale oil deposits. Wants to reduce obstacles to coal, natural gas and nuclear energy development, and accelerate drilling permits in areas where exploration has already been approved for developers with good safety records.

Says green power has yet to become viable and the causes of climate change are unknown. Proposes to remove carbon dioxide from list of pollutants controlled by Clean Air Act and amend clean water and air laws to ensure the cost of complying with regulations is balanced against environmental benefit. Says cap and trade would "rocket energy prices."

Blames high gas prices on Obama's decisions to limit oil drilling in environmentally sensitive areas and on overzealous regulation.

___

Gay rights: Favors constitutional amendment to ban gay marriage, says policy should be set federally, not by states. "Marriage is not an activity that goes on within the walls of a state." But said he would not seek to restore a ban on openly gay service members.

___

Health care: Promises to work for the repeal of the federal health care law modeled largely after his universal health care achievement in Massachusetts because he says states, not Washington, should drive policy on the uninsured. Proposes to guarantee that people who are "continuously covered" for a certain period be protected against losing insurance if they get sick, leave their job and need another policy.

Would expand individual tax-advantaged medical savings accounts and let the savings be used for insurance premiums as well as personal medical costs. Would let insurance be sold across state lines to expand options, and restrict malpractice awards to restrain health care costs. Introduce "generous" but undetermined subsidies to help future retirees buy private insurance, or let them have the option of traditional Medicare, with a gradually increasing age to qualify for benefits.

___

Immigration: Favors U.S.-Mexico border fence, opposes education benefits to illegal immigrants. Opposes offering legal status to illegal immigrants who attend college, but would do so for those who serve in the armed forces. Establish an immigration-status verification system for employers and punish them if they hire non-citizens who do not prove their legal status. Proposes more visas for holders of advanced degrees in math, science and engineering who have U.S. job offers, and would award permanent residency to foreign students who graduate from U.S. schools with a degree in those fields.

___

Social Security: Protect the status quo for people 55 and over but, for the next generations of retirees, raise the retirement age for full benefits by one or two years and reduce inflation increases in benefits for wealthier recipients.

___

Taxes: Drop all tax rates by 20 percent, bringing the top rate, for example, down to 28 percent from 35 percent and the lowest rate to 8 percent instead of 10 percent. Curtail deductions, credits and exemptions for the wealthiest. End Alternative Minimum Tax for individuals, eliminate capital gains tax for families making below $200,000 and cut corporate tax to 25 percent from 35 percent. Does not specify which tax breaks or programs he would curtail to help cover costs. Dodged on extending cut in payroll tax, saying he doesn't like "temporary little Band-Aids" but also said he's not for raising taxes "anywhere."

___

Terrorism: No constitutional rights for foreign terrorism suspects. In 2007, refused to rule out use of waterboarding to interrogate terrorist suspects. In 2011, his campaign said he does not consider waterboarding to be torture.

___

War: Has not specified the troop numbers behind his pledge to ensure the "force level necessary to secure our gains and complete our mission successfully" in Afghanistan. "This is not time for America to cut and run." Said Obama was wrong to begin reducing troop levels as soon as he did. Would increase strength of armed forces, including number of troops and warships, adding almost $100 billion to the Pentagon budget in 2016. Has spoken in favor of covert action by the U.S. and regional allies in Syria but "the right course is not military" intervention by the U.S. Criticizes Obama's approach on Iran as too conciliatory and associates himself more closely with hardline Israeli Prime Minister Benjamin Netanyahu. Has not explicitly threatened a U.S. military strike, but in one Republican debate said that re-electing Obama would guarantee an Iranian bomb and that electing him would guarantee Iran would not get a nuclear weapon. "Of course you take military action" if sanctions and internal opposition fail to dissuade Tehran from making a nuclear weapon.

___

Associated Press writers Ben Feller, Matt Apuzzo, Ricardo Alonso-Zaldivar, Stephen Ohlemacher, Alan Fram, Dina Cappiello, Anne Gearan, Ken Thomas, Jim Kuhnhenn and Christopher S. Rugaber contributed to this report.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.27% up 4.22%  
15 Y Fixed Graph 3.27% -- 3.27%  
30 Y Fixed Jumbo Graph 4.56% dw 4.60%  
5/1 ARM Graph 3.35% dw 3.48%  
5/1 Jumbo ARM Graph 3.54% up 3.51%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% dw 4.46%  
$50K HELOC Graph 4.11% dw 4.17%  
$30K Loan Graph 4.99% dw 5.10%  
$50K Loan Graph 4.40% dw 4.55%  
$75K Loan Graph 4.40% dw 4.51%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.91% up 2.86%  
36 M Used Graph 3.43% up 3.36%  
48 M New Graph 3.19% up 3.14%  
48 M Used Graph 2.97% up 2.93%  
60 M New Graph 3.22% up 3.17%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% up 0.34%  
1 yr Graph 0.68% -- 0.68%  
5 yr Graph 1.38% up 1.37%