Economic Revival: Live Blog of the Presidential Debate

The economy seems to be the number the one concern on American's minds. So it made sense the the first topic of the Presidential Debate is the economy. It is already a half-hour into the debate and the candidates are still engaged in a battle over the economy. Both candidates understand they will need to make the economy a priority during their candidacy.

"Americans are angry and upset and a little fearful...it is our job to fix the problem...we have to stop spending." - McCain

So what is McCain's plan? He talks a lot about home values. McCain says he wants to buy up all the unpaid home loans and buy the homes back at the new value. He realizes it will be expensive, but it will "give some trust and confidence back to Americans." McCain says that Obama wants to raise taxes. He says trying to nail Obama on taxes is like trying to nail jell-o to a wall.

But Obama retorts... He says he wants to provide a 95 percent tax cut for middle class families. He wants those who are working two jobs to be able to spend more time with their kids.

Onto the Bailout Package...

McCain wants to stop the greed and excess in Washington and Wall street. He attacks Obama calling him a croonie. And says Obama is the second highest recipient for campaign funds from Fannie May and Freddie Mac in history. Doesn't seem to really answer the question huh?

Will the economy get worse before it gets better?
"I am confident about the American economy but we need much better leadership from Washington...we have an archaic regulation system." - Obama

McCain calls Americans innocent bystanders of the biggest financial crisis of our time.

List your priorities: entitlement programs, health care, energy reform

McCain says we can work on all three at once because they are all very important. He speaks about nuclear power plants and creating new jobs through new energy initiatives.

While Obama says we have to prioritize. "Energy we have to deal with today because you are paying $3.80 here in Nashville and it could go up...it is bad four our national security." Obama plans that in the next ten years America will be free from foreign oil.

My Commentary
I prefer McCain's economic plan. I like that he talked about getting American people back into their homes. However I do agree that America needs to focus on alternative energy plans. It is important that both candidates talked about ending foreign oil dependency and creating "green" jobs. It's good to know that the linkages between the environment and the economy are on their minds.

LiveBlog Presidential Debate 2

Mudslinging is Alive and Well

According to dictionary.com, mudslinging is "an attempt to discredit one's competitor, opponent, etc., by malicious or scandalous attacks." Sound familiar?

Forget time limits, presidential nominees John McCain and Barack Obama took all the time they needed at the Presidential Debate in Nashville to add unnecessary jabs at each other. Here are a few comments that made jaws drop.

6:13 When responding to the economy crisis, Sen. McCain said, "The match that lit this fire was Fannie Mae and Freddie Mac...with the encouragement of Senator Obama and his cronies and his friends." Later Sen McCain said America must get rid of the cronies in Washington to restore the economy. Cronies=Sen. Obama?

6:37 Sen. McCain's take on Sen. Obama's tax cuts: "Nailing down obamas tax proposals is like nailing jello to the wall."

6:40 Sen. Obama replied: "Straight-talk express lost a wheel on that one."

6:50 McCain referred to Sen. Obama as "that one".

7:12 On foreign policy, Sen. McCain said: "Sen. Obama likes to talk loudly...remarkable"

7:15 0bama replied: "Sen. McCain suggests I'm green behind the ears...he sang 'bomb, bomb, bomb Iran'."

Photo Courtesy of Stephen Crowley/The New York Times

Issue number one: the economy

Obama opened the debate addressing the dire state of our economy, calling our current situation "the worst financial crisis since the Great Depression." With each candidate prime for attack and a bit of mudslinging going on, the candidates delivered responses that warranted attack from the opposition. Obama spoke first, quick to place the blame of our financial crisis on the past 8 years of administration. He highlighted the need for tax cuts for the middle class. He also said it's essential to make sure Wall Street CEOs don't get big bonuses.

McCain followed Obama with an equally compelling response, outlining his belief that rather than cut taxes for the middle class, releasing financial pressures for everyone is his priority. McCain argued that universal tax cuts combined with energy independence is the best way to ease the crashing economy.

The two went on to address a vital appointment of their cabinet: secretary of treasury. Warren Buffet was mentioned as a supporter of Senator Obama and was cited as one of his possible choice. However, talk from both candidates about the corruption of "Wall Street cronies," made this potential appointee—an extremely influential “cronie” on Wall Street—seem a bit hypocritical.

McCain cited Meg Whitman, president and CEO of eBay, as his choice for
secretary of treasury. The current secretary, Paulson, has been under intense scrutiny as of late and with the economy in such dire straits, the appointment of the secretary of the treasury is arguably the most important appointment of this election.


OBAMA:
To fix the financial crisis he proposes streamlining regulatory agencies which he thinks will help keep banks that borrow from the government in check. Establishing a checks and balance-like system would regulate trading activities and enforce full disclosure in regards to financial earnings.

To stimulate growth within the current economy, Obama’s plan focuses on creating jobs and offering tax reliefs to the middle class. He also proposes more stringent bankruptcy laws and stricter regulation of credit card practices.

MCCAIN:
His proposal involves creating something he calls a Mortgage and Financial Institutions Trust (MFI) which will work directly with banks and regulators to identify faulty loans and mortgages to then resell once the markets have stabilized. The treasury would absorb the profits of these bad loans. His plan directly coincides with the $700 billion dollar bailout plan passed by congress two weeks ago.

To rejuvenate growth, McCain proposes cutting the corporate tax rate by 10 percent, from 35 percent to 25 percent. He also thinks cutting “pork-barrel spending” would eliminate $10 billion worth of spending that Bush approved for local projects.

The respective plans by the two candidates have been one of the most popular topics of the debates and presidential campaign as a whole. With Wall Street teetering on a daily basis and the election just three weeks away, I have no doubt that the economy will continue to dominate the campaign trail leading up to November 4th.

Getting it Right: Second presidential debate fact checker

In matters of truth, both candidates have had squabbles along the road. Following the vice-presidential debate, in which Gov. Sarah Palin had more than her fair share of factual slip-ups, and to be fair, Sen. Joe Bided did, too, the presidential candidates took the stage in there second of a series of three presidential debates.

Below are a few of the candidate's embroidered meanderings and slip-ups from the town hall-style debate at Belmont University in Nashville, Tenn.

• Responding to a question about what the recent $700 billion bailout package will do to help ordinary Americans, McCain boasted about his résumé and the suspension of his campaign to deal with drafting the bill, while citing Obama as "the second highest recipient of Fannie Mae and Freddie Mac money in history." Yeah, and in case you didn't hear him the first time, the contributions were the biggest, in, underscore, "... history." Too bad McCain made such a fuss over this alligation because, according to Free Republic, a grassroots, independent organization, Obama was not the second largest recipient of Fannie Mae and Freddie Mac contributions, but the third.
  

• Addressing the hot-button topic of energy use, Obama advocated for new sources of oil and alternative energy, meanwhile he got stuck on the number. "I believe in the need for increased oil production," Obama said. "We're going to have to explore new ways to get more oil, and that includes offshore drilling. It includes telling the oil companies, that currently have 68 million acres that they're not using, that either you use them or you lose them." According Factcheck.org, a nonpartisan website devoted to politcal fact-checking, however. "those 68 million leased acres are not producing oil, but they are not necessarily untouch ... In 2006, the last year for which figures are available, there were more than 15,000 holes that were being proposed, started or finished, according to the Bureau of Land Management ... these acres of land that these holes sit on are not counted as being 'producing,' but they are far from untouched."

• We heard both the candidates talk themselves silly when it comes to earmarks and the role they play in terms of the federal budget. In the midst of all the facts and figures the candidates cited, some were, thankfully, correct, while others were just taken out of context.

Obama, explaining how he would get the U.S. out of debt, said we would need to look at the country's spending and revenue. He mentioned McCain's concern when it comes to earmarks, which Obama said account for $18 billion of the national budget. When it comes to how much we're spending on earmarks, Obama was indeed correct, according to an article on Forbes.com.

The Washington Post criticized McCain's continuous remarks on its fact checker. "McCain continues to make an issue out of earmarks, which are only a small part of the overall federal budget," Glenn Kessler wrote. "Earmarks are just $16 billion out of a more than a $2 trillion budget," indicating that McCain gave the issue of earmarks unnecessary attention.

• Politicians seem to have a knack for creating technology; first Al Gore created the Internet, McCain was the brain the BlackBerry and, now, Obama is crediting the government for creating the computer as a way to communicate. Speaking about American innovation, the Democratic presidential nominee said, "The computer was originally invented by a bunch of government scientists who were trying to figure out, for defense purposes, how to communicate." What Obama probably meant was the Internet. Communication had nothing to do with the first computers, which had nothing to do with making contact — in fact, they were a way for academics to isolate themselves further in their studies. And neither did the government: Apple and IBM were the pioneering companies when it came to the production of PC's, according to Wikipedia.
  

A litany of other fact checkers will pop up in the days and hours following the debates, so be sure to check them out.

The third and final presidential debate will take place Oct. 15 at Hofstra University.

LiveBlog: The Debate

THE PRESIDENTIAL DEBATE, a LiveBlog

7:15 pm. So far, I've got this debate as a pretty even draw.

7:13 pm. Obama gets a follow-up, but McCain also wants a follow-up. Hasn't he got his shots in after the bell all debate long? It seems to me that it has been that way. And there he goes, cutting off Obama during his answer.

7:06 pm. Obama gives a firm answer on the so-called "Obama doctrine." McCain?

7:02 pm. It's going to be really interesting to see how the public responds to this new-look attack dog known as John McCain. I have a feeling it will do well within his own party, but how are independents are going to feel? I have to think they won't take kindly to his attack politics.

6:59 pm. Now he crossed that line. As soon as Brokaw moves on, McCain stands up and says, "Did we hear the size of the fine?" McCain is clearly overstepping the rules of the debate, and Obama doesn't have a chance to respond. I'm stunned to see him so much on the offensive like this.

6:50 pm. OK, now it's getting over the top. McCain referred to Obama as "that one." That almost crosses the line. McCain looked more like a dog salivating over meat than a Presidential candidate disagreeing with his opponent.

6:44 pm. I get the feeling the McCain campaign realized it was behind and had to change its debate strategy. He's still firing at Obama, and I don't know if he's necessarily winning, but he's certainly holding his own. It's much more of a debate than the first one.

6:40 pm. Back comes Obama. "The straight talk express lost a wheel right there." Obama seems legitimately disturbed by McCain's continued shots at him, because he hasn't really had a chance to defend himself. He spelled out his tax plan in plain English, and I think you're going to see a different Obama in the second half of this debate.

6:37 pm. And another shot fired by McCain, comparing Obama's tax plans to jello. He continues to go on the offensive. I don't know what woke him up from the last debate, but he has ripped into Obama's plans. Again, Obama continues to give solid answers to the question, but McCain is going above and beyond.

6:29 pm. Tom Brokaw with some comic relief. Now, back to the debate.

6:28 pm. A big step from Obama, invoking JFK and his call to go to the moon. It depends on who you talk to, but that will either score big points or make the purists shudder. So far, I'm calling this a dead heat.

6:22 pm. McCain is continuing to take it to Obama. How deep did he (and his staffers) have to dig to find out about Obama's desire for an overheard projector at a planetarium? Nonetheless, no holds barred from the Republican candidate. He took an early lead, if you like attack dog politics. If not, I'd say it's pretty even up to this point.

6:19 pm. Take that...everyone. What a sharp question from the audience. "How can we trust either of you with our money when both parties got us into this mess?" Ouch.

6:17 pm. The Empire, er, uh, Obama strikes back. He directly addressed the question, spelling out in lay terms exactly what the bailout/rescue bill will do. I think that will score points with the American public. And about those "cronies?" Nope - it was McCain's camp that lobbied in favor of Fannie and Freddie.

6:14 pm. McCain on the attack. "Senator Obama and his cronies." Cronies? Harsh words for John. He is not showing the same restraint from the first debate, and clearly his game plan was to take the lead from the get go and make Obama play catch-up.

6:10 pm. Interesting question from Tom Brokaw - who would you pick to be the next Treasury Secretary? Both candidates seemed stumped by that one, but Obama outlines a strong plan of how to direct that economic policy. I know I can sleep safely tonight, though, knowing that Brokaw will not be that next Secretary.

6:09 pm. McCain storms ahead, or so it seems. He gave a firm, resolute answer, and seemed almost angry that anyone else could say their plan is better.

6:06 pm. Just in case you were wondering, a junket is " a pleasure excursion, as a picnic or outing." (Dictionary.com definition) But Obama doesn't like junkets. Presumably, of course, he was referring to a pleasure excursion and not "a sweet, custardlike food of flavored milk curdled with rennet." (Dictionary.com) Because everyone likes those, and it would hurt Obama to say he hates those kinds of junkets.

Can Christians vote for a candidate that's not "Prolife"?

First of all, what does the term prolife mean? According to anti-abortion advocates, this stilted word applies to people who oppose abortion rights. But what validity does the term have if it ignores other considerations. George Bush is certainly a "prolife" politician, as are most Republicans. George Bush also ordered more state sponsored executions than any other Governer. Oh yeah, he also declared war on two countries.

Can a candidate be prolife and prowar? That's an unfair question. Just because someone supports the war doesn't mean they like the idea of war, or wish that there were more wars. But George Bush certainly went out of his way to distort (some say lie) about prewar intelligence. Does he really deserve the prolife label? Many christians pile behind whichever candidate (Republican) who promises to oppose abortion rights and do their best to get rid of that unGodly Roe v Wade.

And some background on Roe V Wade, it was passed during the Nixon era. Nixon is perhaps the most influential Republican candidate (sorry Reagan fans). Nixon was the president that realized he could use culture wars to earn the undying support of the country's powerful conservative population, still fuming about all the sex and drugs that defined the 60's in so many people's minds. Nixon played up the abortion issue, and was THE Republican politician who learned how to exploit hot topics to the advantage of the Grand Old Party. Nixon may be gone, but his style of campaigning is still the standard.

This clip is a segment of "The War Room with Quinn & Rose." In it, co-host Rose Tennent twice stated that "I don't think you can be a Christian and vote for [Sen.] Barack Obama." They then go on to make more aspersions about Obama being a Muslim.



Barack Obama is not a Muslim, not that the Republican Party isn't trying to make him one, and he is not anti-abortion. Can a Christian vote for a candidate who won't try and reverse Roe v Wade? That's up to them, but they should consider other factors. Abortion rates are highest in regions that experience the highest poverty rates, wouldn't trying to relieve poverty be more effective than supporting politicians who promise to end abortion even though they don't have the legislative or judicial power to do anything about it? Mmmmm, run on questions.

Palin Pounded

The general consensus from the vice-presidential debate is that Alaska Gov. Palin did “fine” — but not good enough to dispel the image, driven by Tina Fey and a series of excruciating Katie Couric interviews, that she is violently unqualified to be vice president.

By all accounts, Palin exceeded expectations, if only by not falling on her face — but then, that wasn’t difficult; expectations for a candidate have, perhaps, never been lower. Her opponent, Sen. Joe Biden, gave far more specifics on policy implementations, and independent voters polled after the debate said they thought he performed stronger.

In fact, some observers think that by any meaningful standard, Palin’s debate performance was awful. A New York Times editorial said that Palin had to do little more than “say one or two sensible things and avoid an election-defining gaffe,” and that by that standard, “but only by that standard,” she did well.

The debate also outpaced the presidential debate in the overnight Neilson ratings.

Some other interesting media observations from the week, RE: Palin and the debate.

The Los Angeles Times thinks it’s possible Biden could step down from the ticket.

CNET is asking its readers which tech gadget Sarah Palin is.

Palin has at least one supporter, though unfortunately he can’t vote: Pakistani President Asif Ali Zardari. Zardari’s comments didn’t play so well at home, though.