With 12 days to go before the presidential election, Powell publicly endorsed President Obama for re-election on "CBS This Morning" Thursday.
"I voted for him in 2008 and I plan to stick with him in 2012 and I'll be voting for he and for Vice President Joe Biden next month."
Powell explained his choice to Charlie Rose and Norah O'Donnell:
"When he took over, the country was in very very difficult straits. We were in the one of the worst recessions we had seen in recent times, close to a depression. The fiscal system was collapsing. Wall Street was in chaos, we had 800,000 jobs lost in that first month of the Obama administration and unemployment peaked a few months later at 10 percent. So we were in real trouble. The auto industry was collapsing, the housing was start[ing] to collapse and we were in very difficult straits. And I saw over the next several years, stabilization come back in the financial community, housing is now starting to pick up after four years, it's starting to pick up. Consumer confidence is rising."
Summarizing the past four years under Obama, Powell said "Generally we've come out of the dive and we're starting to gain altitude." He acknowledged that problems remain, saying "The unemployment rate is too high, people are still hurting in housing but I see that we're starting to rise up."
Turning to foreign policy, Powell said he saw "the president get us of one war, start to get us out of a second war and did not get us into any new wars. And finally I think that the actions he has taken with respect to protecting us from terrorism have been very very solid. And so, I think we ought to keep on the track that we are on."
Powell also did not mince words concerning WHY he is not endorsing the President's opponent and Republican instead:
"The governor who was saying things at the debate on Monday night ... was saying things that were quite different from what he said earlier. I'm not quite sure which Gov. Romney we would be getting with respect to foreign policy."
"One day he has a certain strong view about staying in Afghanistan but then on Monday night he agrees with the withdrawal, same thing in Iraq. On almost every issue that was discussed on Monday night, Governor Romney agreed with the President with some nuances. But this is quite a different set of foreign policy views than he had earlier in the campaign. And my concern ... is that sometimes I don't sense that he has thought through these issues as thoroughly as he should have."
Powell also said that he has given close consideration to Romney's domestic policies. "As I listen to what his proposals are especially with respect to dealing with respect to our most significant issue, the economy, it's essentially let's cut taxes and compensate for that with other things but that compensation does not cover all of the cuts intended or the new expenses associated with defense."
I have to say that of ALL the members of the Bush administration, I tend to give a Colin Powell the most credit for taking responsibility for his actions and for working hard to make it up to the American people. He has a unique perspective on the damage that a war mongering GOP administration can cause, and clearly wants to do what he can to prevent another one from taking office.