So we’ve -- we’ve seen progress even under Republican control of the House or Representatives. But ultimately, part of being principled, part of being a leader is, A, being able to describe exactly what it is that you intend to do, not just saying, I’ll sit down, but you have to have a plan.

Number two, what’s important is occasionally you’ve got to say now to -- to -- to folks both in your own party and in the other party. And you know, yes, have we had some fights between me and the Republicans when they fought back against us, reining in the excesses of Wall Street? Absolutely, because that was a fight that needed to be had. When -- when we were fighting about whether or not we were going to make sure that Americans had more security with their health insurance and they said no, yes, that was a fight that we needed to have. And so part of leadership and governing is both saying what it is that you are for, but also being willing to say no to some things.

And I’ve got to tell you, Governor Romney, when it comes to his own party during the course of this campaign, has not displayed that willingness to say no to some of the more extreme parts of his party.

MR. LEHRER: That brings us to closing statements. There was a coin toss. Governor Romney, you won the toss, and you elected to go last.

So you have a closing two minutes, Mr. President.

PRESIDENT OBAMA: Well, Jim, I want to thank you and I want to thank Governor Romney, because I think this was a terrific debate and I very much appreciate it.

And I want to thank the University of Denver.

You know, four years ago we were going through a major crisis, and yet my faith and confidence in the American future is undiminished. And the reason is because of its people. Because of the woman I met in North Carolina who decided at 55 to go back to school because she wanted to inspire her daughter, and now has a new job from that new training that she’s gotten. Because of the company in Minnesota who was willing to give up salaries and perks for their executives to make sure that they didn’t lay off workers during a recession. The auto workers that you meet in Toledo or Detroit take such pride in building the best cars in the world -- not just because of a paycheck, but because it gives them that sense of pride, that they’re helping to build America.

And so the question now is, how do we build on those strengths? And everything that I’ve tried to do and everything that I’m now proposing for the next four years in terms of improving our education system, or developing American energy, or making sure that we’re closing loopholes for companies that are shipping jobs overseas and focusing on small businesses and companies that are creating jobs here in the United States, or -- or closing our deficit in a responsible, balanced way that allows us to invest in our future -- all those things are designed to make sure that the American people, their genius, their grit, their determination is -- is channeled, and -- and -- and they have an opportunity to succeed.