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 of over 8 percent, until the rate dropped to 7.8 in September, the same as it was in February 2009, Obama's first full month in office. Businesses have added jobs for more than two years straight while public sector jobs have lagged. 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.
PHOTO: A woman shops at The Avenues Mall in Jacksonville, Fla. Economists say the gains in retail sales in August and September could bring stronger economic growth for the second half of the year. (AP Photo/Florida Times-Union, Bruce Lipsky, File)