Town Hall Presidential Debate

8:06: Obama just got done spewing his canned answer blaming President Bush and Senator McCain for the current financial crisis.

8:07: McCain wants to stabilize home prices in America.

8:09: Treasury Secretary suggestions. Warren Buffet's name comes up.

8:10: Obama says "prosperity won't trickle down." Proposes middle class tax cut for 95% of working Americans.

8:11: Question about bailout. How is it going to help? McCain says he suspended his campaign to make sure there were taxpayer protections in the bill. Brings up Fannie Mae and Freddie Mack. Blames Obama's "cronies" for protecting Fannie and Freddie from regulation. Talks about Fannie and Freddie's campaign contributions to Obama.

Obama: markets frozen up, small businesses can't take loans, if they can't take loans, they can't make payroll. (Are businesses taking loans to make payroll now?) Obama rewriting history to make himself look like he was on the case two years ago. Bailout is the beginning of the process.

8:16: Is the American economy going to get worse before it gets better? Obama says he has "confidence" in the economy. Talks about "coordinating with other countries" to make sure the package works. McCain advocates buying up bad loans so people can renegotiate their mortgages. Obama's name not on letter McCain wrote regarding the looming financial crisis.

8:18: Question to Obama: How can we trust both of you when both parties got us into this global economic crisis? Obama: enough blame to go around but remember a little bit of history. Starts to blame President Bush for the current deficit and debt. Biggest increases in deficit spending and national debt in the last eight years. Reform health care, deal with energy, invest in college affordability. Claims to be proposing more cuts than spending.

McCain: "The system in Washington is broken and I have been a consistent reformer." Touts clear record of bipartisanship. Obama hasn't taken the leaders of his party on any issue. Look at record, not rhetoric. Obama's is the biggest liberal, big spending record in the Senate. Obama voted for every spending increase. Get middle income Americans to start working again.

Brokaw: What will be your highest priorities in office?

McCain: Reform entitlement programs. We are not going to be able to provide benefits at the same level we have in the past. All of the above approach to energy. Health care. Compeling national security issues. All need to be worked on at once.

Obama: prioritize. Energy cost bad for economy and national security. Investment of $15 billion a year. Energy independence in ten years. Priority two: health care. Bad for families and less competitive. Education next. Claims McCain wants to give tax cuts to Big Oil.

Brokaw: What sacrifices will you ask every American to make?

McCain: Eliminate programs that are not working. Defense spending would be a target. Eliminate earmarks. Good projects should be eliminated as well. Spending freeze with the exception of defense, veterans' affairs and other selected programs. We can get it all done.

Obama: remember 9/11 (I thought we were not supposed to exploit 9/11). Criticizes President Bush for telling people to "go shop" after 9/11. American people hungry for leadership. Provide incentives to buy energy-efficient cars made in America. Doubling the Peace Corps.

8:33: Brokaw: How would you break the habit of bad debt?

Obama: government should provide the example. People don't feel they are sharing the burden with other folk. Unfair to ask a teacher making $30,000 to make sacrifices while there are people living "high on the hog."

McCain: 300,000 jobs created by small business. Obama's tax proposals will harm small businesses. Let's not raise anybody's taxes. Leave taxes rates alone. Double tax exemption for kids to $7,000.

Obama: Gets testy after McCain's reply and tries to bend the rules agreed to by both campaigns.

8:30: Brokaw: Would you give Congress a date certain to fix Medicare?

Obama: Can't guarantee it will be done quickly, in his "first term as president." Entitlements mus be dealt with in terms of revenue. Tax cuts to 95% of Americans. "Vast majority" of small business will get a tax cut. Claims McCain's plan will give $300 billion to big business.

McCain: It's not that hard to fix Social Security. Sit across the table. Reagan and O'Neill have done. Obama hasn't taken on his party leadership, I have. Don't let Congress fiddle anymore. Do it. Obama has voted over 90 times to raise taxes. I have fought to renew government.

8:42: Question for McCain: What would you do in the first year to make sure government moves fast on energy and the environment?

McCain: Nuclear power is safe and clean. It creates thousands of jobs. Reprocessed nuclear fuel is a safe reality in Japan, France and elsewhere.

Obama: One of the biggest challenges of our time. Also and opportunity. Creating a new energy economy would "easily" create 5 million jobs in America. It will require an "investment." Now claims he favors nuclear energy. Claims McCain has voted against alternative energy 26 times. We can't drill our way out of the problem.

McCain: Energy bill with pork barrel filled with "goodies" on the floor of the Senate. Obama voted for it, McCain voted against it.

8:49: Question to Obama: Do you believe health care should be treated as a commodity?

Obama: Health care is "breaking" family budgets. Premiums doubled over the last eight years. Claims Americans can keep their health care if they are happy with it. Ability to buy the same kind of coverage he and McCain have.

McCain: Reduce medical errors, establish walk-in health clinics. Obama will impose mandates. If you are a parent who does not provide health care to children will be fine. McCain's plan would enable people to buy insurance across state lines. American people will have a choice regarding the kind of health care plan they need. Health care is a responsibility.

Obama: Health care should be a right. You can keep the health care you have if you like it. You are going to have to "make sure" your child has health care. Regarding government intrusion: crack down on companies that are gouging consumers.

8:59: Question for McCain: Effect of financial crisis on America's ability to be a peace maker in the world.

McCain: America is the greatest force for good in the history of the world. We have shed blood in defense of the freedom of others.Where can America make a difference regarding genocide and terrorism. Obama was wrong on the surge in Iraq. There's not time for on-the-job training.

Obama: Questions McCain's judgment. Panders to troops. We need the $10 billion being spend in Iraq every month to create jobs in America. We don't have the resources and allies to address other problems.

9:04: Question of use of force when America doesn't have issues of national security at stake.

Obama: When genocide is happening and we stand idly by, that diminishes us. We are not going to be everywhere all the time. Importance of working in concert with allies.

McCain: Senator Obama would have brought our troops home from Iraq in defeat. Intervention involves understanding what our limitations are. How can we beneficially affect the situation?

9:08: Should we respect Pakistani borders?

Obama: "We" didn't do a good job of pursuing al-Qaida. Reverse course. End the war in Iraq and concentrate in Afghanistan. Encourage democracy in Pakistan. We will kill bin Laden. We will destroy al-Qaida.

McCain: Our mistake was to wash our hands of Afghanistan after the Russians left. Get the support of the Pakistani people and turn against the Taliban, not threatening to attack them.

Argument about follow-ups.

Obama: "What I said was," if Pakistan is willing or unable to take out bin Laden, we should.

McCain: I understand what it means to send soldiers into harm's way. I'm not going to telegraph my punches like Senator Obama has.

9:16: Brokaw: How do you reorganize Pakistan strategy?

Obama: Withdraw troops from Iraq in a "responsible" way. Our bases and outposts are being attacked and need more help.

McCain: General Patreus will set the tone for the strategy. Double the size of the Afghan army, work closely with Pakistan, streamline NATO. Improving security will improve lives in Afghanistan.

How can we apply pressure to Russia on humanitarian issues without starting another cold war.

McCain: Russia's behavior outside of acceptable parameters. Looked into Putin's eyes and saw three letters: a "K," a "G," and a "B." Make Russians understand there are consequences to invasions and threats.

Obama: Ressurgent of Russia one of the central issues to deal with in the next presidency. Provide financial assistance to former Soviet Union provinces. (More spending overseas. Predictable.) Part of the job of the next president is to anticipate threats.

9:23: Is Russian under Putin the "Evil Empire?"

Obama: Russia has exhibited evil behavior.

McCain: We can deal with them. They need to understand they will face a determined America.

9:25: Would you be willing to commit troops if Iran attacked Israel?

McCain: We would not wait for Security Council permission. Iranians continue on the path of pursuing nuclear weapons. Potential to destibilize the whole region. Obama want to meet with Iranians without preconditions. Impose sanctions to modify their behavior. We can never allow a second Holocaust to take place.

Obama: We can not allow Iran to get nuclear weapons. Parrots McCain's answer. Changes his story regarding meeting with hostile countries without preconditions.

9:29: Last question: What don't you know and how will you learn it?

Obama: Michelle could give you a longer list. Nature of challenges is immense. It's not the challenges you expect but the ones you don't that consume most of your time. "This country" gave me opportunities. Came from humble means. Over the last eight years the American Dream has diminished. Fundamental change, blah, blah, blah.

McCain: What I don't know is what is going to happen here and abroad. New and different challenges. I have spent my whole life defending this country. I believe in this country and its future. I will rest on my record. Times are tough and we need a steady hand at the tiller. Country first.