Debate Summary: Highlights from Second Presidential Debate

After a contentious second presidential debate in which President Obama and Republican nominee Mitt Romney traded jabs and threw punches all night long, President Obama performed much better than his first debate in Denver, and Mitt Romney continued his excellent first debate performance.

In all, it was likely a draw, but we will wait to see how the exit polls shake out. Here are some excerpts and highlights from each candidate:

Romney on taxes: “I will not under any circumstances reduce the share that’s being paid by the highest-income paying taxpayers and I will not under any circumstance increase taxes on the middle class. The president’s spending, the president’s borrowing will cause this nation to have to raise taxes on the American people, and not just at the high end.”

Obama on Romney's economic plan: “Governor Romney says he’s got a five-point plan. Governor Romney doesn’t have a five-point plan, he has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules. That’s been his philosophy in the private sector, that’s been his philosophy as a governor and that’s been his philosophy as a presidential candidate.”

Romney on unemployment: “We have fewer people working today than we had when the president took office… We have not made the progress we need to make to put people back to work.”

Obama, on Romney's energy plan: “He’s got the oil and gas part, but he doesn’t have the clean energy part. And if we’re only thinking about tomorrow and the next day and not thinking about ten years from now, we’re not going to control our economic future. Because China, Germany, they’re making these investments, and I’m not going to cede those jobs in the future to those counties.”

Romney, on employment after college: “The key thing is to make sure you’ve got a job when you get out of school. And what’s happened over the last four years has been very, very hard for America’s young people… Half of college kids graduating this year without a job, without a college level job, that’s just unacceptable…. When you come out in 2014, I presume I’m going to be president. I’m going to make sure you get a job.”

Obama, on Romney's tax plan: "When Obama was asked if that settled the matter, he responded, "Settled? No it’s not settled. “The cost of doing [what he wants to do] is 5 trillion dollars and spend an additional 2 trillion on military programs … How will he make sure this doesn’t add to the deficit … but he can’t tell you how. The fact that he only has to pay 14 percent when a lot of you have to pay more … we haven’t heard from the Governor any specifics beyond Big Bird.”

PolicyMic will be live blogging the presidential debate. We'll be giving real time updates, and updating the winners to indicate who is winning so far. To follow along, see here. 

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