The Debate!

Sooo exciting!  Here we go.

I LEARN SOMETHING EVERY DAY:  Barack Obama tells us that he wrote letters to both the Treasury Secretary and the chairman of the Federal Reserve warning them of a housing bubble two years ago, yet nothing happened.  Geez, maybe Obama should have gotten himself a blog.  Well - until I learned that correspondence was the way to get things done I had the silly idea that Senators made things happen by holding hearings, introducing legislation and giving speeches.

As to the notion that the Fed chairman was unaware of a housing bubble until Barack was kind enough to point it out to him, please.  Here are some stories from three years ago telling us the Fed was noodling the problem of a housing bubble.  Didn't seem to help.

STILL LEARNING:  McCain wants to send the Treasury Secretary out to buy houses?  Kidding?  I need to see the transcript.

SHARED SACRIFICE:  Obama explains that we will all have to share some sacrifices in order to revive the economy.  Apparently 95% of us will need to sacrifice by enjoying Barack's tax cut and new health care plan but some will sacrifice by paying more in taxes.  Raising taxes to battle a recession - well, you can't say Obama lacks for original ideas.

JOHNNY DEATH WISH:  McCain tackles a question on fixing social security by assuring us that the problem is pretty clear and "we all know the fixes".  Oh, geez - he should have emphasized TWICE that he would never, ever touch the benefits of retirees and near-retirees. 

THE OBAMA DOCTRINE:  Obama asserts that America has a moral obligation to intervene with force in certain foreign circumstances and cites the Holocaust.  His gist - if we could have intervened effectively to prevent the Holocaust we should have. Hmm - many have argued that the rail lines to Auschwitz were within range of US bombers yet Roosevelt did nothing.  Both George Bush and George McGovern think Roosevelt erred - does Obama know this history and is he ducking a criticism of Roosevelt or is he just running his mouth?

$79 BILLION:  Obama was wrong about the Iraqi budget surplus at the last debate and he is still wrong.

OPPORTUNITY LOST:  In the foreign policy segment McCain discussed Russia without noting the tie to US energy independence and the national security benefit to the US of a better energy plan (conservation, alternative energy, more production, nuclear).  Obama did not fail to make that point.

WHO WON?  Well, we didn't see the John McCain as the Grumpy Old Man but I think Obama, who was Presidential enough, will be deemed the winner by default tonight.  Nothing struck me as dramatic enough to be a game-changer.

ADDENDUM:  Debate transcript; more on mortgages and McCain; the Times fact-check.

Comments

[Dave]

Raise their taxes and create gov't make-work programs to try to compensate for the massive unemployment that we just caused.

[Terry Gain]

Obama

1st Q, 1st lie: failed policies of last 8 years

[Dave]

Barney

[PD]

McC: It's government's job to fix the problems.

Bzzzt!

[Porchlight]

My friends, drink!

[Dave]

can I default on my mortgage that I've been reliably paying to get a piece of the pie?

[bgates]

Oh no. "Do something about home values."

John McCain wants me to be a renter for the rest of my life.

Bill Ayers is making a lot more sense at the moment.

[Barack HuJane Obama]

I uh would ah like to uh thank Belmont University for uh having me ah here tonight.

[centraljane]

what you said Dave!

[Terry Gain]

McCain

Not responding to the lie- wants to talk about energy, ok ; curtail spending ok;
do something about home values. Buy up over-mortgaged homes.

Omigawd.

Mccain thinks he can out-socialist Obama. Good grief. Opportunity lost

[Barbara]

Didn't Buffet just buy up a boat load of GE?

[Barbara]

Obama can't answer the question, so he just parrots McCain.

[Dave]

'cronyism' - Fannie/Freddie kickbacks mostly to D's.

[bgates]

Let's just make title to land hereditary. Nobody's going to be able to afford a first house; first-born children can inherit from their parents.

[SukieTawdry]

Gotta help the middle class.

[Dave]

O'Bama said the same thing about the 'fundamentals' a week later.

[Syl]

Sheesh. Make work programs? You mean the kind of stuff that prolonged the Depression by at least 7 years?!?!?

[Jim Ryan]

Bill Ayers is making a lot more sense at the moment.

What else's McCain going to do? There's no Obama resume to attack. There are no new ideas from Obama to attack, just tax-n-spend.

[Barbara]

"Senator McCain is right." - can we take a sip on that one?

[Terry Gain]

O

treas sec must help middle class. Where will the money for the middle class come from?

Mccain won't call him on this.

[SukieTawdry]

Tom's asserting his authority.

[SukieTawdry]

Mac says bailout is really rescue.

[Dave]

Syl, that's what you'll see if the WH, Senate and House are in their hands.

[SukieTawdry]

Freddie/Fannie Here we go

[Sue-Jane]

Shit, I just payed off my home. I should have waited and I might could have gotten the gubbament to help me out.

[Topsecretk9]

Fannie !

[Barbara]

Fannie Mae and Freddie Mac! Finally McCain slams Obama.

[Jane Whitman]

I'm gonna refinance Sue-jane, take the money and then get a bail-out.

[Terry Gain]

M

blame wall street. 2nd chance at FM-FM. bIT BETTER . Lacking conviction and fire.

[SukieTawdry]

Some of us stood up against it; some of us took a hike.

[Jane Whitman]

I'm not sure Freddie and Fannie connected with anyone in the room.

[SukieTawdry]

Bambi handled that one better I think.

[Jane Whitman]

Obama is lying.

[bgates]

What else's McCain going to do? There's no Obama resume to attack.
He could run as a goddamn Republican instead of Democrat-lite.

[Dave]

They're both being pretty damned generous with my paycheck.

[Jane Whitman]

Obama is lying

[Jane Whitman]

Show us the letters.

[SukieTawdry]

Now Bambi's talking about everything he tried to do to forestall the crash. What a hero!

[Rocco]

Was Bernanke Fed Chairman two Years ago? Wasn't it Greenspan?

[badjane]

Did Obama say "sperm"?

[Jane Whitman]

I'll point a finger and then say how you aren't interested in it.

[Topsecretk9]

It wasn't his own bill, he just jumped on it - But he JUMPED ON IT Obama, you didn't.

[Terry Gain]

O

It was de-regulation of fin sec. So he wrote to Paulson about de-reg fin dec. No he wrote , he says , about FM-FM

[Barbara]

Obama is lying.

He sure is.

[SukieTawdry]

Both these guys are flat, flat, flat. Or is it just me?

[Pofarmer]

Hmmmm, no mention of Jim Johnson by Obama??

No mention of suing citibank???

[Sue-Jane]

He said he wrote about sub-prime loans. And just this year he said sub-prime loans worked just fine.

[Jane Whitman]

Why would Obama be confident about the American economy if the fundamentals are bad?

[Barbara]

Someone please ask Obama HOW he recommends this be done.

[badjane]

Same old crap. I want something new.

[Pofarmer]

O.K.

It's kind of ironic talking about the bailout bill and voters voices getting drowned out. ;0)

[Terry Gain]

O

Need to help people say in their overpriced homes. Don't let the market work.

[PDinDetroit]

Brokaw in the TANK for Obama.

[SukieTawdry]

Good answer on whether it will get worse before it gets better.

[Jane Whitman]

No mention of ACORN

[PD]

ST: No, it's not just you. My eyes are getting sleepy, sleepy.

There's no energy on either side.

[Sue-Jane]

Dammit! badjane is such a cool name.

[Soylent Jane]

O! just lifted that 21st century line.

Why won't McCain simply tell the people that we need to get the same government that screwed things up out of the way?

[Terry Gain]

McC signing from same Hymn book. Buy up (overpriced) homed.

[SukieTawdry]

How can we trust any of you. LOL

[Porchjane]

Ditto, Sukie and PD. I hope things will heat up soon.

[PDinDetroit]

You do not understand Obie!

It is not affecting you!

What a liar!

[hit and run]

Obama to lady asking question: I don't blame you for your cynical bitter clinging...

[Dave]

*cough* Barney Frank *cough*

[centralcal]

time to drink, O mentioned George Bush!

[Terry Gain]

Dumb q fro a liberal

Both parties got us into a global economic crisis.

[SukieTawdry]

Oh, it's Bush's fault. Yawn

[Dave]

Franklin Raines James A Johnson Chris Dodd

[Terry Gain]

O

tried and true formula. Blame Bush. This too will go unanswered.

[centralcal]

Is O just blabbering or what?

[Barbara]

So, deficit spending caused the financial crisis and Obama's answer is to "spend some money." Huh?

[Jane Whitman]

Oh now Obama is for spending cuts. A net spending cut. Yeah that will happen.

[SukieTawdry]

I will spend money on key issues: health care, energy, college affordability. Cut spending--won't say where.

[PDinDetroit]

Cutting more than he is spending???

WTF???

[Dave]

("Investments" next 4 years I eat a lot of macaroni & cheese.)

[Terry Gain]

O

I hate him but he's cleaning up.

[Sue-Jane]

McCain is flat. Is he tired?

[Pofarmer]

Am I gonna like where Obama cuts spending?

Precious hearing him talk about cynicism.

[Topsecretk9]

I'm biased of course, Obama seems jagged and can't stay on point and mccain stays on point.

[SukieTawdry]

Hey, did you know Mac's a reformer?! And bipartisan, too.

[Jane Whitman]

O is blabbering well - that's the problem. If you know nothing, Obama is winning.

[PDinDetroit]

C'mon McCain, hit the wimp! He will dry up and blow away!

[Publius]

It is looking like the most qualified guy in the room to be president is Tom Brokow.

[Barbara]

McCain is right on content, but he does sound somewhat tired.

[PD]

When does the debate start?

[SukieTawdry]

Pork barrel earmarks, my friends.

[Verner]

Can we do a "Bush's Fault" drinking game"

I'll provide the virtual Grey Goose!

[SukieTawdry]

Drill, baby, drill (no, he didn't really say that)

[Terry Gain]

McC

Go to watchdogs and find out just how bad

O is a spender-one billion in earmaks . Good . he's getting better.

[Pofarmer]

Obama still hot air and unicorns on energy.

[Pofarmer]

Health care reform isn't even on McCains radar. That was a Liberal gift to Obama.

Thanks Tom.

[Barbara]

Can we get Sarah to pinch hit?

[PDinDetroit]

Did I hear it correctly that they cannot rebut each other???

[SukieTawdry]

Tom wants priorities. Mac says we can work on them all at once. Entitlement reform. Yikes, we're reaching across the aisle again.

[Jane Whitman]

Oh great, McCain just announced he is cutting social security. Sheesh let's just throw this away.

[PD]

Mc: I have a record of reaching across the aisle --- to Feingold, Kennedy, ...

What, that's a plus?

[Terry Gain]

McC

need to cut back on entitlement.

Energy -all of the above. Missed opportunity to point out dems have unrealistic energy plan

[SukieTawdry]

Bambi's priorities: energy--must deal with that today.

[Jane Whitman]

All O can talk about is spending.

[Porchjane]

This isn't a true townhall format. The big empty stage is set up for a regular podium debate. Giving the candidates handheld mikes makes it seem as if they can walk around among the audience as they're talking, but in fact doing so just looks awkward. It's a cross between the two and it's killing the energy onstage.