Max King of the Wild said:
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Yes, but then the viewer has to be able to determine who is telling the truth, and the fact is, it's quite unrealistic to expect the average viewer to possess all the relevant knowledge to make these assessments. Just for example, there was the instance where Obama claimed Romney's plan didn't address pre-existing conditions. Romney countered that his plan did cover preexisting conditions. It turnout out that Obama was "more correct" with the argument, but I personally had no clue who was right at the time.
To summarize, it is not a question of whether the debaters can counter each others argument. It is whether viewers can decipher all the competing claims the candidates make while on stage. A rebuttal doesn't make much use if it is based on erroneous facts, but given the depth of the issues being discussed, viewers often don't have the information to determine which claims are true or false.