Video Related To: President Obama And Mitt Romney's First Presidential Debate:

Debate Between Mitt Romney and Barack Obama deficit Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President Obama's repeated charge that he wants to implement a $5 trillion tax cut scheme that would end up burdening the middle class. Obama argued that the Republican nominee is pushing a plan that would skew tax cuts toward the wealthy. To offset that, Obama claimed, Romney would have to either add to the deficit or tax the middle class more. Romney, though, insisted the 20 percent across-the-board rate cut he's pushing is not as sweeping as the president describes and wouldn't hurt the middle class. "I don't have a $5 trillion tax cut," Romney said. Further, he pledged to hold to his promise that it would be deficit-neutral and not hurt the middle class. "There'll be no tax cut that adds to the deficit. I want to underline that -- no tax cut that adds to the deficit," Romney said. He added: "I will not under any circumstance raise taxes on middle-income families." But Obama argued it's not possible to do that, claiming Romney is now saying "that his big bold idea is 'nevermind.'" "It's math, it's arithmetic," Obama said The two candidates also sparred at the opening of the debate over jobs. Obama argued that the issue to consider is not "where we've been" but "where we're going." "We've begun to fight our way back," Obama said. He accused Romney of wanting to roll back regulations and implement tax cuts skewed toward the wealthy. Romney <b>...</b>