...McCain has a critical task, responsibility even, this evening. He must show voters that he has an understanding of the economic doldrums gripping the nation. He must present a cogent explanation for the Fannie and Freddie debacle. He must illustrate an ability to be decent, kind-hearted, relatable, frank, thoughtful. In short, he must summon himself. Circa 2000.How convincingly he does that could determine the outcome of this election. No doubt that negative campaigning is effective, especially in the waning days of a contest. But in times of true crisis -- the nation is contending with two battles, one financial, one military -- voters look for leadership and decency, not just experience. Four weeks to go. McCain wouldn't want to wake up Nov. 5 to find that he October surprised himself out of his last shot at the White House.
Enjoy the debate, use this as an open thread, and GO BARACK!!!
UPDATE: Also, check this out. Wow.
P/S./ We are not his friends. I am sick of him saying "my friends." Very cheesy.
"McC complains about Cronyism. BWAAHAHAHAH He helped invetn it./
Obama: Thanks to Allen for the question, to Belmont, to Tom Brokaw. We are in worst financial crisis since Great Depression. A lot of you are worried. This is final verdict on failed econ. policies of last 8 years, supported by John McCain. It hasn't worked out, now we have to take decisive action. Rescue package, need to make sure that works properly. Crack down on CEO's. Oversight. We just found out that AIG went on a $400,000 junket. Treasury should demand that money back and exec's should be fired. Middle class needs rescue package. Long term need to fix health care system, energy system that puts burden on families, middle class.
McCain: Thanks. Good to be with you at a town hall meeting, Sen. Obama. Americans are angry, upset, a little fearful, it's our job to fix the problem. Energy independence. Keep America's taxes low. Let's not raise taxes on anybody. Stop spending spree in washington. Package of reforms leading to prosperity, peace in world. Do something about home values. I would order Sec. Treasury to buy up bad mortgages. Until we stabilize home values, we'll never turn around and start creating jobs. I know how to do that my friends, get America working again.
"Not you, Tom."
"That's a tough question." First criterion is that Americans identify with them. Warren Buffett is a possibility. Meg Whitman, CEO of EBay. Somebody who inspires trust and confidence. problem today to a large extent is trust and confidence because of greed on Wall Street, cronyism in Washington, DC.
Obama - Warren Buffett would be good choice, and I'm pleased to have his support. We've got to help middle class, not just those at top. We have fundamental disagreements. Fundamentals of economy are not sound. Middle class tax cut to 95% of working Americans.
Barack better put Gramm into the mix.
McCain: I believe that it's rescue. Main Street paid a heavy price. I suspended my campaign, went back to washington to protect taxpayer. Fannie Mae and Freddie Mac, they're the ones that, with the encouragement of Sen. Obama and his cronies, they went out and made risky loans. Some of us stood up and said, we have to enact legislation and fix this. Meanwhile, Dem's in Senate defended what fannie and Freddie were doing. Sen. Obama was second highest recipient of Fannie and Freddie money in history. Stabilize markets, shore up institutions, but it's not enough. We have to stabilize home values. Fannie and Freddie were the match that started this forest fire. Some of us stood up against this, others took a hike.
Obama; Right now credit markets frozen up. Businesses can't get loans, that means they can't make payroll. Imagine a million companies across the country dealing with this. We shouldn't have been there in the first place. I need to correct Sen. McCain's history. Biggest problem was deregulation. McCain bragged that he's a deregulator. I warned about this. Nobody did anything about it. Sen. McCain said we should keep on deregulating. With respect to Fannie Mae, what McCain didn't mention is that it wasn't his bill and it wasn't passed. You're not interested in politicians pointing fingers. This is not end of process, this is beginning, we need to work with homeowners to keep them in their homes. Not simply bail out banks on Wall Street.
Obama; I am confident about the American economy, but we need leadership from Washington. We have archaic 20th century regulatory system for 21st century financial markets. Help ordinary families stay in their homes, pay their bills, deal with health care and energy, change process in washington
McCain: Depends on what we do. If we stabilize housing market, buy up bad loans. Get rid of cronyism and special interests in Washington. Letter we wrote, Sen. Obama's name was not on that letter. American workers are best in world. They are innocent bystanders...we can do it.
Obama: I understand your frustration and cynicism. You're right, there's a lot of blame to go around. Important to remember, when Bush came into office, we had surpluses, now we have huge deficit. Debt has almost doubled. While it's true that nobody's completely innocent, but over last 8 years, biggest increases in debt in our history. Sen. McCain voted for 4 of 5 George Bush budgets. I'll spend money on key issues we have to work on - health care, energy (can't borrow from China and send money to Saudi Arabia), also need to make spending cuts. I'm cutting more than I'm spending. Priorities that are working for you, have to put an end to lobbyists and special interests.
McCain: I can see why you feel cynicism and mistrust. Washington is broken. I've been a reformer, reached across aisle - Feingold, Lieberman. The situation today cries out for bipartisanship. We need to reform. Look at records not just rhetoric. Obama's never taken on his leadership. Obama has the most liberal, big-spending record in Senate. He's proposing $860 billion in new spending. He voted for every increase in spending while we were working to eliminate pork barrel earmarks. Do we need to spend that kind of money. Look at his proposals and mine. Get middle income workers working again. Energy independence. Drill offshore, nuclear power, I know how to fix this economy and eliminate dependence on foreign oil.
Obama: We're going to have to prioritize just like a family. Have to deal with energy today. That's a strain on family budget and bad for national security. Countries like Russia, Venezuela, Iran are benefiting. In 10 years, we should be free of Middle Eastern oil. JFK said we're going to moon in 10 years. That's priority #1. Health care is priority #2. Bad for families and makes businesses less competitive. #3 is education. Look at our records. I'll go line by line through federal budget and eliminate programs that don't work. McCain proposed $300 billion tax cut to big corporations including big oil companies, that's money out of system. Need to prioritize...
McCain: Some programs we may have to eliminate. Examine every agency and every bureaucracy and eliminate those that aren't working. Defense spending. Eliminate earmarks. Same scrutiny that all projects undergo. Spending freeze except for defense, veterans, and some other vital programs. Establish priorities with full transparency, not in middle of night. We are Americans, we can work together and solve these problems, don't have to wait, get 'em all done.
Obama: A lot of you remember tragedy of 9/11, how all of the country was ready to come together and make enormous changes. President Bush did some smart things at outset, but opportunity that was missed, Bush said go shopping. That wasn't call to service that the American people were looking for. Kind of leadership that will tackle problems both in government and outside government. We all need to think about how we use energy. Tell oil companies to use 'em or lose 'em. Develop clean coal technology, safe nuclear power. Incentives for people to buy fuel efficient car made here in America, weatherize home, effort from each and every one of us. Double Peace Corps. Create Volunteer Corps across country. Military families and troops shouldn't be only ones bearing burden.
Half way through this, I've seen nothing to change the game, except to push more independents and moderates towards Obama.
His "Obama's secret" stuff sounds bizarre and paranoid.
McCain: Nailing Obama's tax proposals is like nailing jello to wall. He wants to raise taxes. Last president to do that was Herbert Hoover, who practiced protectionism as well. We've lost jobs, Obama's secret that you don't know is that his tax increases will hit small business revenue, won't be able to hire. I've got some news, Sen. Obama, the news is bad. I am not in favor of tax cuts for wealthy, I am in favor of leaving tax rates alone. I want to give tax credits for health care, not mandates. Let's not raise anybody's taxes.
McCain: I'll answer the question. It's not that hard to fix Social Security. We know what problems and fixes are. I saw it with Ronald Reagan and Tip O'Neill. Sen. Obama has never taken on party leaders. Medicare will be a little tougher, difficult and complex issues. Have a commission. Have Congress vote up or down. Sen. Obama has voted 94 times to increase your taxes or against tax cuts. Look at our record. I've fought higher taxes. Our best days are ahead of us.
McCain: Issue we may hand our children, a damaged planet. I've disagreed strongly with Bush administration. We forced votes, but we lost. Best way of fixing it is nuclear power. It's safe and it's clean and it creates hundreds of thousands of jobs. we can do it, Sen. Obama's opposed that. Develop clean technologies, hydrogen, hybrids, get economy going. We're the best innovators.
Obama: This is one of the biggest challenges of our time. This is not just a challenge, it's an opportunity. New energy economy can be an engine like the computer, 5 million new jobs easily. We're going to have to make an investment. We've got to understand this is a national security issue. I favor nuclear power as one component. It is important to look at record. Sen. McCain has been in Washington 26 years, he voted 23 times against alternative fuels. Easy to talk about during campaign. Sen. McCain talks a lot about drilling, but we have 3% of world's oil reserves, we use 25% of world's oil. We can't just drill our way out of this. We have to come up with alternatives, fund innovation with private sector.
"Freddie and Fannie...you probably had never heard of them before this whole crisis..."
McCain: Major challenge facing Americans. We need to make more efficient, health records online, community health centers, walk-in clinics. Fundamental difference between Sen. Obama and me. "Government will do this, government will do that." Sen. Obama will fine you. I want to give $5,000 refundable tax credits. Can take it across state lines. Why not? Do the math. We have got to give people choice and not mandate things.
It's a responsibility - we should have available and affordable health care to every American system. I'm always nervous about government mandates, you're gonna get fined...
Obama: It should be a right. For my mother to die of cancer at age 53, spend last year of her life arguing with insurance companies, there's something fundamentally wrong about this. If you've got a health care plan that you like, you can keep it. There's no mandate involved. Small business will not have a mandate. You have to make sure your child has health care. McCain voted against SCHIP. I think it's important for government to crack down on insurance companies that are cheating their customers. State by state is a problem, insurance companies will find a state where there are no requirements and they will all set up shop there. Fundamental difference - he believes in deregulation in every circumstance.
This is gorgeous.
Obama: Sen. McCain suggests that I don't understand. It's true, I don't understand how we ended up invading a country that had nothing to do with 9/11 while we let Bin Laden go. That was Sen. Mccain's judgment, and it was the wrong judgment. That was the wrong judgment. Enormous strain on our troops. Enormous strain on our budget. Sen. McCain wants to continue on same path, $10 billion a month at a time Iraq has $79 billion surplus. We need that money in the united States. We are greatest nation on earth. But you can't see economy decline and maintain military power. Strain on alliances. Sen. Mccain's and George Bush's foreign policy has not worked for America.
We may not always have national security issues at stake, but we may have moral obligation. Holocaust, Rwanda...have to strongly consider and act when genocide, ethnic cleansing is happening. It diminishes us to stand idly by. Intervene where possibility. We can't be everywhere all the time, need to work with allies. Darfur, we could provide logistical support. Need to mobilize international community and lead.
McCain: If we had done what Sen.Obama had suggested in Iraq, we would have had a wider war, Iranian influence would have increased. Obama would have brought troops home in defeat, I'll bring them home in victory and honor. Cool hand at the tiller, understand our limits. We ended up as peacemakers in Somalia. I stood up to Reagan in Lebanon. You have to temper decisions...I know those situations, I've been in them all my life. We have to say never again to Holocaust or Rwanda, but don't make situation worse.
Nothing here is going to change the overall dynamic of the debate. We're at the end of the first hour, so half of the audience is going to start tuning out.
If there was going to be a big game changer it would have come by now. It hasn't.
Look for individual Republicans to start running scared, and distancing themselves from the erratic McCain campaign. Look for McCain and Palin to spin completely out of control and go from erratic to hysterically paranoid. There will be violent assertions and there will be insane slurs. This is the end of McCain.
If we do the work we need to do, Obama is the next president. McCain just lost the air war.
Obama's "we will kill bin laden" was like a giant work of art.
McCain's heroes Reagan, Teddy Roosevelt, can't save him, because he's not big enough to fill their shoes.
He's killing tonight.
woah
Obama; we have difficult situation in Pakistan. In part, because we made bad decision to go into Iraq before finishing job against bin Laden. They are stronger now than any time since 2001. We need to reverse course. That's the central front in war on terrorism. Gates said it began in that region and it will end there. We have to change our policies with Pakistan. Can't coddle a dictator who makes deals with Taliban. Expand non-military aid to Pakistan. Insist that they go after militants. If we have Bin Laden in our sights, we will kill bin laden, we will crush Al Qaeda.
McCain: Hero is Teddy Roosevelt - talk softly and carry a big stick. Obama talks loudly. When you announce this, it turns public opinion against us. We drove Russians out of Afghanistan, then made serious mistake, washed our hands of Afghanistan. Our relations with Pakistan are critical. We have to get their support. Gen. Petraeus had a strategy, same fundamental strategy that succeeded in Iraq. Get support of people, get them to work with us. Don't threaten to attack them.
Obama: I want to be very clear. Nobody called for invasion of Pakistan. If Pakistan is unable or unwilling to hunt down bin Laden, we should. They are threatening to kill more Americans. McCain sang "bomb bomb bomb Iran," called for annhilation of North Korea,"next up Baghdad," that's not speaking softly. We were supporting a dictator in Pakistan. We were not promoting democracy, ended up undermining.
McCain: Not true. I understand what it's like to send Americans into harm's way. I know how to handle these crises. I'll get Osama bin Laden no matter what, no matter what, but I'm not going to telegraph my punches. I'll act responsibly as I've done throughout my military career.
Obama: We are going to have to make the Iraq government take more responsibility, withdraw are troops in a responsible way, put more troops in Afghanistan, our bases and outposts are now targets of Taliban attacks. Karzai government has to do better by his people, responsive, right now it's not.
McCain: Petraeus has just taken over position of responsibility. Same overall strategy. Double size of afghan army, work more closely with Pakistanis. Obama still won't admit he was wrong on strategy in Iraq. I have confidence in Gen. Petraeus.
A "surge" implies something that is short term. I'd hate to see a long-term escalation of combat in Afghanistan sold to the public as a "surge." We'll be surging there for 10 more years if we don't watch out.
Obama: We honor your service. We cannot allow Iran to get a nuclear weapon, it would be game changer in region. It would threaten israel, strongest ally in region and one of strongest allies in world. It's unacceptable. we will never take military options off table. Use all tools at our disposal to prevent that scenario. If we can work more effectively with other countries to tighten sanctions, reduce our energy consumption so Iran has less money, prevent Iran from important gasoline they need, change cost benefit analysis. We should have direct talks with our friends and enemies, deliver tough, direct message. We have a better chance at better outcomes if we talk.
McCain: What I don't know is what's going to happen both here at home and abroad. There are challenges around the world that are new and different. We'll be talking about countries we barely know where they are on the map. My mother basically raised our family. I know what it's like in dark times, to rely on others for courage, support, love. I believe in this country. Give me another opportunity, I'll rest on my record, we need a steady hand at the tiller, always put country first.
I actually think Brokaw over all was very fair, tried to steer the debate when it was appropriate, and generally let the two Senators speak.
Obama crushed McCain. Totally Distroyed IMO, and I try to stay neutral and would say if I though McCain won. He didn't. He's got owned.
Obama composed, and collected. He made many arguments that connected well with women.
Mark Shields: Nothing happened that changed things in the race. John McCain was tone deaf on sacrifice. Neither one rose to challenge of leveling with American people on sacrifices required. Thought McCain would be more aggressive, didn't feel that he was tonight.
Nobody else went from uncommitted to committed.
Fred Barnes and Bill Kristol both look constipated.
Mort - Both candidates were mainly given opportunities to repeat their talking points.
Kristol - Slamming Brokaw for dumb questions - like he's "interviewing the next secretary of HHS." Since McCain is behind, he says, it was a bigger disservice to McCain.
Nina - "We were witnessing something quite profound" - the end of free-market Republicans. She is referring to McCain's plan to take over mortgages.
I think this is a great point. Along with what is beginning to look like an Obama win, this sort of stuff will end up depressing the GOP base. In the first place, who wants to vote for a loser? The only reason is for principle.
Fred Barnes - He is ticked that Brokaw didn't just ask about all of the GOP's wedge issues - guns, same sex marriage, etc., and questions on character.
All will be shot to death on way out of the room. This will not due.
Luntz - Obama did better overall. Responses to health care turned the debate in Obama's favor.
Hilarious moment - Luntz says group thought McCain did better on economy. Brit challenges him, asking increduously, "They thought McCain did better on the economy?"
Luntz asks for a show hands. "Who thinks McCain did better on the economy?" About one-fifth raise their hands, and Luntz turns to the camera and says, "Okay, about half thought McCain did better."
Dowd: Style points, roughly even. Problem McCain had is did he change momentum of race. There was no game changer by John McCain. Obama didn't fumble.
Torie Clarke: McCain connected with people in hall. Record vs. rhetoric. It wasn't enough to change game. We're grading these guys on curves now, McCain couldn't do it.
Brazile: Obama had one homework assignment, explain to American people in simple terms the problems of Main street and wall St. Come across as commander in chief. He passed both tests. McCain couldn't change fundamentals of race.
Gibson: McCain could never get into a rhythm.
Stephanopolous: The hall was rapt. I don't think it played different in hall than on TV. Dog that didn't bark - sarah Palin has brought up William Ayers, but nothing tonight. Was that a mistake?
Dowd: It's very telling, voters don't care about that, want to focus on economy. Doesn't work in front of town hall format. McCain has one last chance, tonight didn't do it.
Brazile: Neither candidate talked about Dow under 10,000.
Clarke: Neither candidate showed justifiable anger.
Dowd: Neither wanted to go out on limb. American public wanted them to give the answer.
Talking about new mortgage plan.
Chris: "Can we afford it?"
Mitt: McCain recognizes we will need to stabalize home values. Really?
Chris - Was this the game changer?
Mitt - "We'll see after the night is over." Uh-oh.
Brit asking Greta what she thought, and she says, and I'm not kidding, "What really counts are the undecided voters in the swing states."
Who won the debate: McCain 27%, Obama 39%, tie 35%
Very few minds changed of uncommitted.
Obama and McCain both improved on economy.
Understands your needs and problems: both went up.
Prepared for job? McCain went up slightly, Obama went up from 42% to 57%.
Answered the questions? 57%-42% said yes for both Obama and McCain.
Weird moment with Chris Wallace talking about how cold it is at the hall and sharing body warmth with McCaskill.
The entire Faux team seems positively disoriented.
Just switched to MSNBC. Harold Ford saying there was no clear winner. What an idiot. Isn't he a Democrat?
Matthews - Obama has a wonderful smile. McCain has a "menancing" smile.
I will say this - I think the big news of the night was McCain's mortgage plan and how bent out of shape the wingers will get over that.