Romney, Obama Focus on US Posture Abroad

President Barack Obama and Republican challenger Mitt Romney sparred over how best to address U.S. challenges abroad in nearly back-to-back addresses at the Clinton Global Initiative's annual meeting.

Following deadly anti-American protests in Muslim countries over the past two weeks, Romney outlined plans Tuesday to rework the U.S. foreign aid system, tying development money to requirements that countries allow U.S. investment and remove trade barriers.

Obama also addressed top foreign leaders, CEOs and nongovernmental organizations at the gathering spearheaded by former President Bill Clinton.

The event put the two presidential contenders in front of the same audience on the day Obama also delivered a major address to the United Nations General Assembly.

Both men were drawing contrasts in a presidential contest in which the state of the U.S. economy has been paramount, but which shifted focus this month to foreign policy after attacks in Libya killed four Americans, including the U.S. ambassador there.