The Debate

John McCain just said he would instruct the Treasury to buy up all the shaky mortgages and renegotiate them. He says he wants to "stabilize home prices." In other words, he wants to make sure the price of housing remains higher than the market would have it. He wants to give millions of irresponsible people a windfall at the expense of the more prudent.

Can't we just start over again and get two more reasonable candidates?

McCain is pointing out Fannie and Freddie and their relation to the Dems. He points out the contribs from them to Obama, and his own role in the attempt to regulate them. I'm glad to hear him make the point.

Obama is calling this the worst economic period since the depression. Debatable; a bit premature. Obama blames the crisis on "lack of regulation." He isn't specific about what regulations he's talking about. He says we should coordinate with foreign markets on those regulations. Good luck with that.

My wife Jui says McCain is not answering the questions.

Question: "How can we trust either of you with our money, when both parties have gotten us into this?" Good question. Obama feels her pain. Obama points out the deficits. He will reform health care... yea, that will save $$$. He wants to develop new energy sources... yea that will save $$$. Free college! Yea, that will save $$$...

McCain feels her pain too. He'll take on the fat cats... like he did on campaign finance reform. Wow, I feel really good about that. Perhaps he can take out some other Constitutional amendment. He points out Obamas plan will cost $860 billion. McCain points out earmarks. That's small potatoes John.

McCain mentions he backs nuclear power!!! Hooray!!

Question: "Heath care, energy, entitlements... which is more important?" McCain says they all are. Lame, but expected. Reaching across the aisle. Nukes again!! New jobs? Alt fuels... yada yada. Obama says we need to prioritize. Energy $3.80/gallon. Bad for National Security. Russia Iran, Venezuela.. $15 billion/year for 10 years research. Says that will be enough. No, it won't. Health care is #2. #3 is education. Bizarre #3, I think, not really a critical Federal role. Obama answered the question. Impressive. Makes standard corporate welfare point.

"Since WWII we haven't been asked to sacrifice." That's good isn't it? McCain says we should eliminate Fed agencies that aren't working. Defense spending. Some projects that seem good to some. Spending will have to be cut in America. Recommends a freeze except for a few crucial programs. I like this answer.

Obama says a lot of you remember 9/11. Um... yeah. Need for each of us to think about how we are using energy. Explore off shore drilling!! Says 68 million acres of leased oil land is unused (complete nonsense). Weather proof your home. Turn off the lights, wear a sweater... shades of Jimmy Carter. Bring on the malaise! Double the Peace Corps. Here comes the Obama Youth! This stuff from Obama scares me. President should set the tone of sacrifice. Only those fat cats should be cut.

Enough Live Blogging. Kind of fun, but my wife wants to use the computer.