tonight on "nightline," moment of truth. amid hysteric economic pain and crippling personal financial crises, with a nation demanding leadership, president obama sits down exclusively with us to take questions about where he thinks the economy's really headed and how long it will take to fix our problems. breaking the knot. we are with the president as he gets on the road to sell his jobs plan, as his approval ratings reach historic lows. we ask, who should be held accountable, and if there's a plan to bring america back. >> you worry that our kids are not going to have a better life than we did? and, republican roulette. in las vegas tonight, the candidates who want to take the president's job meet to hash out their vision for how to resuscitate the economy. we have the debate, unspun. >> announcer: from the global

resources of abc news, with terry moran, cynthia mcfadden and bill weir in new york city, this is "nightline," october 18th, 2011. >> good evening, i'm terry moran. and tonight, we've got a special broadcast for you. our exclusive interview with president barack obama. at a time when a lot of americans are having serious difficulty making ends meet and are desperately looking for leadership on the economy. abc's jake tapper joined the president on his bus tour to two key election states, and he asked him, is there really a plan in place and how long is it going to take to get the country back on track? so, here is abc's senior white house correspondent jake tapper. >> now, you may have heard we're taking a little road trip this week. chance to get out of washington. >> reporter: the president's bus tour may be rolling through the tranquil autumn countrysides of north carolina and virginia --

>> it must be pretty good here. we stopped for a little north carolina barbecue. sweet tea along the way. some hush puppies. don't tell michelle exactly what was on the menu. >> reporter: but there's nothing amusing about the state of his presidency. as he fights for his jobs bill and for his job. >> we are going to keep fighting and we're going to keep working to put people back to work. >> reporter: this trip is official white house business, not a campaign trip. >> they -- i appreciate -- i appreciate the "four more years" but right now, i'm thinking about the next 13 months. >> reporter: we sat with him today to find out just how bad he thinks things are and what it means for the american people. are you worried? >> i'm not worried in the sense that i don't think we can solve these problems.

the jobs plan that i put forward we know would grow the economy by as much as 2%. we know that it could add as many as 1.9 million jobs. we could put teachers back in the classroom, we can put construction workers back on the job rebuilding our roads and bridges and schools. i'm not worried about the long-term prospects of this economy because we still have the best universities in the world, the best workers in the world. we've got the best entrepreneurs and the best market system in the world. but i am concerned that right now things in washington are broken. >> reporter: there's a little tone of frustration and one of your friends told me that you are deeply frustrated and worried about the economy. >> if you hear a sense of urgency in my voice, it's because these problems are solvable. but you don't get a sense that we're moving in washington with the sense of urgency that's required. >> reporter: we're sitting in a state right now where a majority

of the voters disapprove of your handling of the economy. we're going to virginia later where a majority of the voters do not think you deserve to be re-elected. >> the fact is that the american people are rightly frustrated over what they see as a system in which responsibility is not always rewarded. that sense of the american dream is slipping away. i think that is something that helped get me elected but it hasn't been entirely solved yet. >> 99%! >> reporter: some of the frustration has come out in this occupy wall street protest. you've expressed sympathy with their position, their feeling of powerlessness. >> what i've said is that i understand the frustrations that are being expressed in those protests. in some ways, they're not that different from some of the protests that we saw coming from the tea party. you know, both on the left and the right. i think people feel separated from their government. they feel that their institutions aren't looking out

for them. >> reporter: but the president's argument on this trip is pointed. he's saying that republicans are the ones not looking out for them. >> maybe they just couldn't understand the whole thing all at once. so we're going to break it up into bite-size pieces. >> reporter: republicans who block his legislation, his most recent defeat, the jobs bill that failed in the senate. and now will be broken up into parts. it seems like sometimes your pitch is, the white house pitch is, you're almost a victim in this. it's the mean republicans that are blocking me. you've really gotten a lot done. >> i don't say that we're victimized. what i say is that we've got too little of the kind of let's work together attitude in washington that we need. and that's been true since i came into office. and that's just a fact. >> reporter: the component the president focused on today is

$30 billion in aid to states to save teachers' jobs. at the school where we spoke, the president showed off his personal knowledge of children's books. >> what's your favorite? what are your favorites? >> reporter: i'm a big dr. seuss guy but i can't -- >> you can't beat dr. seuss. classic. lazy mazy. >> reporter: i don't know that. >> horton's sitting on the egg and lazy mazy flies away -- >> reporter: i haven't gotten up to the horton ones yet. we left the school as the president made his way to the next stop. do you worry about our kids not having a better life than we did? we're both dads with young kids. >> you know, i am actually very confident that america is positioned to do as well in the 21st century as we did in the 20th. if we make some tough decisions. if we make a concerted effort to

reform our schools, put more resources in our schools, that our kids can learn. there are things we know we have to do. and if we do them, our kids will be fine. if we don't do them, then our kids are going to be inheriting an america that is not as strong as it's been. and their opportunities are going to be more constrained. >> barack obama there looking ahead. so that's part one of our exclusive interview. and next, president obama's surprisingly candid take on the political fight ahead. e emotional here? aren't you getting a little industrial? okay, there's enough energy right here in america. yeah, over 100 years worth. okay, so you mean you just ignore the environment. actually, it's cleaner. and, it provides jobs. and it helps our economy. okay, i'm listening. [announcer] at conoco phillips we're helping power america's economy with cleaner affordable natural gas... more jobs, less emissions, a good answer for everyone. so, by reducing the impact of production...

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way to jump-start the economy, he's also in the political fight of his life and he knows it. so, jake asked him about what has to happen for him to convince voters that he deserves a second term? here again, abc's senior white house correspondent jake tapper. >> all right, everybody say cheese. >> cheese! >> reporter: today in the battleground states of north carolina and virginia, president obama took to the road to sell his jobs plan and himself. the math is tough for you. 47% of the country voted against you with everything going your way, pretty much. it's not difficult to think there are 4 million americans who thought, well, i gave him a shot, it didn't work, unemployment is still high, let's give this other guy a chance. >> well, there's no doubt about it. i guarantee you it's going to be a close election, because the fact is that the economy is not where it wants to be. and even though i believe that all the choices we've made have been the right ones, we're still going through difficult circumstances. and that means people who may be sympathetic to my point of view

still kind of feel like, yeah, but it hasn't gotten done yet. >> reporter: across the country, the republicans who hope to make him a one-term president were preparing for another debate. the president doesn't talk much about his would-be opponents by name when he's giving speeches. >> i'm not the democratic president. i'm not the republican president. i'm the president. >> reporter: he seems pretty aware of what they've been talking about. >> we've had a president responsible for this economy for the last three years and he's failed us. >> reporter: just over two months until the republican iowa caucus. there's a lot of talk about the economy. herman cain has his 9-9-9 plan. what are you hearing from the republicans when it comes to the economy? >> i've got to say, what i haven't heard is anything new. >> reporter: 9-9-9 is new. >> well, in -- essentially what it says is that we're going to make sure that the wealthiest among us pay less, and we replace any revenues with a

sales tax that would be a huge burden on middle-class families and working families. that's not new. >> reporter: one emerging campaign theme, to not only run against the republicans but against the excesses of wall street. >> they want to roll back all the wall street reforms that we put into place as if they've got amnesia about how we got into this problem in the first place. >> reporter: your senior political adviser david axelrod has spent a lot of time in the past month talking about mitt romney. is he your biggest challenge? is he the toughest candidate to beat? >> i genuinely am not spending a lot of time worrying about who their candidate is going to be. >> reporter: i'm not asking if you are worrying about him, i'm asking if you're thinking about him. >> it doesn't make sense for me to prognosticate on what i think is going to happen on their side. what i am certain of, though, is that there is going to be a very clear contrast between whoever they nominate and their vision for where we need to take the country and where i believe we

need to take the country. >> reporter: and so the president is out here trying to win the support of the country back. his last stop for the evening was another rally at another school. in emporia, virginia. >> the end of a good day. >> reporter: good day? >> absolutely. >> reporter: it's grueling, though, this stuff. you like it? >> you know, i love getting out of washington and talking to folks. you know, when you're in the rope line and somebody grabs you and says, you know, i've been out of work for six months but i haven't given up, and i'm still trying, and i hope folks are looking after their business in washington. it gives you the kind of energy that you need to keep on going. >> reporter: and do you need it? i know it's -- it's tough, the job. >> well, look. my singular focus every single day is, how can we make sure that this economy is working for ordinary folks? that's what led me to run for office. are there times where you say, man, i wish this is happening faster?

absolutely. are there times when i think to myself that somehow we're not going to get there? never. >> reporter: i'll walk you to your ride if that's okay. >> you bet. >> reporter: you get to see your kids tomorrow. >> i do. and i'm thrilled about that. although these days they're getting old enough where -- >> reporter: they don't care as much? >> you know, because they love me, they act like it's really exciting when i come home but i think, you know, on a day-to-day basis, their focus is starting to shift elsewhere. >> reporter: good to see you. >> appreciate you. thank you. >> reporter: this is jake tapper for "nightline" in emporia, virginia. >> president barack obama, first dad there. thanks to jake tapper for that interview. just ahead, a title fight in las vegas tonight. the punches flew in tonight's gop presidential debate. and we're going to bring you the knockout moments. ♪ [ male announcer ] you never know when a moment might turn into something more.

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well, it was vegas, baby, for the republicans. tonight in las vegas, for the fifth republican debate since labor day. and they went at it. focusing on the economy and on each other. the attacks skewed personal at times. more than one yelling match. so, here is a quick look at the debate, unspun. >> tell you what --

>> you're allowed doct eed -- >> reporter: it was a slug fest tonight. >> rick, you had your chance. let me speak. >> you're out of time. >> reporter: in a combative republican debate there was one truly revealing moment, revealing more of the personal than the political dynamic in this race. take a look at how governor rick perry of texas launches an attack on mitt romney and watch the body language. >> and the idea that you stand here before us and talk about that you're strong on immigration is on the height of hypocrisy. >> reporter: romney latches in his face and denies the charge, and this is crucial. as he reaches out and pats perry on the shoulder, the two almost seem ready to rumble. >> would you please wait? are you just going to keep talking? >> yes, sir. >> reporter: per rip's face was just a portrait of frustration and rage. why? well, just a few weeks ago, he was supposed to be the giant killer of the gop, the conservative hope who would take down romney.

but poor performances in previous debates and is the rise of herman cain and perry's fading in the polls. romney, a little cooler, a little crisper, a little more confident, slipped the knife in to finish perry off from this exchange. >> i thought republicans followed rules. >> tough couple of debaments for rick. and i understand that, so you're going to get -- >> reporter: going at it. abc's matt dowd joining me now. that moment, as you put it earlier, we saw not just what they were thinking but we got a sense of their guts tonight. >> this was like a wild west showdown in vegas. they got out of their heads and into their guts. we learned about three different candidates in the course of that exchange, really. we learned that rick perry finally decided to show up and really become forceful. in a way that was personal but he made a direct attack on romney. the second thing we learned about romney, because this went straight to his core. it really wasn't about the illegal alien he might have hired or his lawn company might

have hired. it was about his core. can we trust him? and we told him he was a hypocrite. and third, cain, out of the fire on that exchange, and i think because that fire was going on between two other guys that are close to him in the polls gained out of this thick. i think we really learned about those three in the course of that exchange. >> how do you think romney handled it? this was perry's best shot. you are a hypocrite, a liar, basically, he told him. how do you think romney handled that? >> i think this is the first time that romney was really confronted in a very personal, emotional way. normally romney can handle a logical conversation. he had to handle a personal attack. i think we handled it well. i don't think he loses support but i don't think he gains any. that's been his problem from the beginning. he seems to have a lid. and it goes straight to what rick perry pointed out. can i trust you? >> and that's what the republican base has had a problem with mitt romney for. have they fallen in love,

though? do you think cain is really the guy for them? >> well, they seem to still be dating around. they have a short-term relationship. i think it's a serio series of short-term relationships. i think romney has the olds in favor. but the rest of the field still has a chance. i think newt gingrich may be the next thing to rise in this thing. newt gingrich did very well here. he had some very good answers. he may be the next guy for the candidates to date, or for the voters to date in this process. >> and the obama white house watching this and feeling good or -- >> i think the obama white house feels good that it's in disarray but i think they know it's being identified as a weakness on obama's part. >> that's what we saw tonight, we saw their core. ma matt, thank you. and thank you for watching abc news. we hope you check in for "good morning america." and for our comprehensive politico