Former US secretary of state Colin Powell Thursday endorsed President Barack Obama's bid for re-election.
The Republican who used to be chairman of the joint chiefs of staff said, "I voted for him in 2008, and I plan to stick with him in 2012." He spoke in an interview on the CBS program "This Morning."
Powell said that in 2008, the Democrat Obama inherited an economy that was close to depression, with Wall Street in chaos and the housing sector starting to collapse.
Under Obama's leadership, stability has come back to the financial community, housing is picking up and and consumer confidence is rising, although unemployment remains high, among other problems, Powell said.
Also, Obama has protected America from terrorism and wound down the wars in Iraq and Afghanistan, he added.
"And so I think we ought to keep on the track that we are on," Powell said.
Powell, himself once widely touted as a prospect for the White House, said his party affiliation has not changed -- but he said he's "a Republican of a more moderate mold," something he said was "a dying breed."
Four years ago, Powell, the first African-American to occupy the top US military post, also came out publicly in support of Obama, who became the first African-American president.
Powell said then he thought "Obama would be a transformational president."
Obama had "met the standard" to lead "because of his ability to inspire, because of the inclusive nature of his campaign, because he is reaching out all across America," he added in 2008.
Obama and Republican rival Mitt Romney are locked in a neck-and-neck race for the November 6 vote.
