Both sides definitely exaggerated / misled, but in my opinion Romney's were bigger exaggerations or more blatant lies. Granted I prefer Obama, but wish debates would have live fact checking or candidates would be called out for these so that truthfulness actually plays a large role in determining who won the debate.
This might actually be a reasonable idea, but I can't see something like this taking off with the current conditions. And more than that, I don't think the American philosophy is to work less, I think that's something a lot more likely to take off in Europe.