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Obama, Romney quote highlights from first debate

U.S. President Barack Obama and Republican candidate Mitt Romney on Wednesday faced off in Denver in the first of three debates ahead of the Nov. 6 election.

Below are some highlights of what the two candidates said.

Former Massachusetts Governor Mitt Romney

On the federal deficit:

“I think it's frankly not moral for my generation to keep spending massively more than we take in knowing that the burden is going to be passed on to the next generation and they're going to be paying the interest and principal all their lives.”

On regulation:

“Regulation is essential. You can't have a free market work without regulation ... You have to have regulation so that you can have the economy work. Every free economy has regulation. At the same time regulation can become excessive, it can become out of date. And what's happened with some of the legislation that's been passed under President Obama's term is you've seen some of the regulation become excessive and it has hurt the economy.”

On Obama's economic plan:

“I'm concerned that we're on the path that's just been unsuccessful. The president has a view very similar to the one he had when he ran for office four years ago, that spending more, taxing more, regulating more — if you will, trickle-down government — would work. That's not the right answer for America.”

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