I got bored with this debate live about 0:30 into it...
Having now finished it, what a dull, useless debate. We saw NOTHING new at all.
Romney offered no solutions for anything. Nothing but iceberg spotting. His entire argument is either "we have failed to lead in the past" or "I'll make America strong," or "we'll implement strategies" like a bad parody of Dilbert's pointy-haired boss.
Obama basically defended his record, which in foreign policy is rather strong in my opinion, but he was perfectly happy to chase Romney down the rabbit hole and retort on such critical foreign policy issues as Massachusetts teachers and Detroit auto bailouts. Thus, no substance.
Obama did come out swinging and his tone was appropriate. He wasted few opportunities to call out Romney on his more idiotic acts of revisionism, but it's nothing you don't already know unless you don't read the papers. Romney for his part doubled down on even the stupidest claims, even reiterating his "weakest Navy since 1917" nonsense. I have to assume he did that because some focus group told him it was a good line, scoring well with Reaganites who remember fondly his "600 ship Navy" and think we should reactivate the Iowa class no matter the cost, rather than the more parsimonious explanation which is that he really is that much of a dunce.
Moderation was OK. Candy Crowley was better, Martha Raddatz still deserves a Pulitzer for her turn at the helm, but Schieffer managed to poke back a little at being overrun without being too obtrusive. I have no illusions that I'd be able to moderate a debate like this one, at least not without microphone control, a bullhorn, and a sidearm...
In the end it's a big loser for Mittens. This is two debates in a row he's lost -- nothing stinging in either one, but the trend is now established, and it shows his first debate win was a true anomaly. He's failed to deliver on suddenly heightened expectations. Sure, he wasn't blown out of the room like his understudy was, but nothing in his performance tonight provides compelling evidence that he's anything but a stuffed shirt.
I predict there will be almost no motion in the polls, and won't be until election day.
I'm now operating under the theory that the first debate simply awakened a vast swath of low-information voters who had actually tuned out their Limbaugh-fueled hatred for Obama, yet found it again and relit their torches at the slightest opportunity. Win or lose, you will be hard pressed to find such a remarkable impact from a single debate in the last hundred years, and harder still to pinpoint just what it was.