Obama: Romney 'whiffed' on tax cut explanation

October 18, 2012 - 1:34 PM
Obama 2012

President Barack Obama jogs up the stairs of the stage as he arrives at a campaign event at Veteran's Memorial Park, Thursday, Oct. 18, 2012, in Manchester, N.H. (AP Photo/Carolyn Kaster)

MANCHESTER, N.H. (AP) — President Barack Obama says Mitt Romney can't explain his plan for a $5 trillion tax cut.

Addressing a rally in New Hampshire, Obama said his Republican challenger "took another swing at it" during Tuesday's presidential debate and "he whiffed."

Obama says Romney is being intentionally vague about his tax plan "because he can't pay for it without blowing a hole in the deficit."

Romney has proposed cutting tax rates for all and paying for it by eliminating unspecified loopholes and deductions.

Obama says voters will soon be able to choose between "the top-down policies that got us into this mess" or policies that he says are moving the country toward economic recovery.