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Presidential Debate 2012: Obama Calls Donald Trump “Small Business,” Fact Check? (Watch Debate & See Election Poll After Debate )

President Barrack Obama said Donald Trump is a "small business" at the first Presidential Debate Wednesday night while referring to certain tax-cut polices. "Donald Trump is a small business. Now, I know Donald Trump doesn't like to think of himself as small anything -- but that's how you define small businesses if you're getting business income," said the president, "Under Governor Romney's definition, there are a whole bunch of millionaires and billionaires who are small businesses."

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Presidential Debate 2012: Election Poll After First Presidential Debate (View More Debate Schedules)

President Barrack Obama and Former Massachusetts Governor Mitt Romney engaged in the first of the three presidential debates Wednesday evening. The debates were moderated by Jim Lehrer, Host of NewsHour on PBS at the University of Denver in Denver, Colorado.

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2012 Presidential Debates: Romney goes on offensive in first debate with Obama

Mitt Romney battled back in his uphill drive to oust President Barack Obama on Wednesday with an aggressive debate performance that put his campaign on a more positive footing after weeks of stumbles and knocked Obama off-stride.

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Presidential Debate 2012 Live Stream: Also See Full Schedule

With about five weeks to the 2012 Presidential Elections. The two presidential candidates gear up for their first presidential debate on 3 October. Republican presidential nominee Mitt Romney will take on incumbent president and 2012 Democratic nominee Barrack Obama Wednesday night. All major broadcast networks ABC, NBC, CBS and Fox will be showing the debates live. In addition, CNN, C-Span, and other Cable Channels will also be covering the events.

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Presidential Debate Time & Schedule: Complete List of Presidential and Vice Presidential Schedules

George Zimmerman Update: Case Hearing in Travyon Martin Shooting Pushed Back Two Weeks

Minnesota Shooting: Family Say Accent System Shooter Andre Engeldinger Was Mentally Ill

Pakistani Ministers Put Bounty on “Innocence of Muslims” Filmmaker Nakoula Basseley Nakoula

Pennsylvania Voter ID Laws Blocked by Commonwealth Court Judge Robert Simpson

Minnesota Shooting, Andrew Engeldinger: Family and Friends Attend Accent Systems Founder Reuven Rahamin

Senator Charles Schumer Says New York Milk Prices to Double If Farm Bill Not Renewed

2012 Presidential Elections: Five Things to Watch in the Presidential Debate

Kate Middleton Nude Photos: Danish magazine “Se og Hør” Publishes Nude Pictures of The Duchess of Cambridge

James Egan Holmes Update: Prosecutors Say He Threatened Professor Before Dark Knight Shootout

George Zimmerman Update: Hearing on Travyon Martin School Records Set for October 19

Hooters Sued for Racial Discrimination: Kisuk Cha Sues Over “Chinx” Receipt (View Receipt)