The Second Presidential Debate
It means that we are cracking down on CEOs and making sure that they're not getting bonuses or golden parachutes as a consequence of this package. And, in fact, we just found out that AIG, a company that got a bailout, just a week after they got help went on a $400,000 junket.
And I'll tell you what, the Treasury should demand that money back and those executives should be fired. But that's only step one. The middle-class need a rescue package. And that means tax cuts for the middle-class.
It means help for homeowners so that they can stay in their homes. It means that we are helping state and local governments set up road projects and bridge projects that keep people in their jobs.
And then long-term we've got to fix our health care system, we've got to fix our energy system that is putting such an enormous burden on families. You need somebody working for you and you've got to have somebody in Washington who is thinking about the middle class and not just those who can afford to hire lobbyists.”
Senator McCain answered the question by saying that “I have a plan to fix this problem and it has got to do with energy independence. We've got to stop sending $700 billion a year to countries that don't want us very -- like us very much. We have to keep Americans' taxes low. All Americans' taxes low. Let's not raise taxes on anybody today.
We obviously have to stop this spending spree that's going on in Washington. Do you know that we've laid a $10 trillion debt on these young Americans who are here with us tonight, $500 billion of it we owe to China? We've got to have a package of reforms and it has got to lead to reform prosperity and peace in the world. And I think that this problem has become so severe, as you know, that we're going to have to do something about home values.
You know that home values of retirees continues to decline and people are no longer able to afford their mortgage payments. I agree with Senator Obama that we need to help homeowners stay in their homes. I agree, but he hasn’t told us how he was going to do that yet. As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes -- at the diminished value of those homes and let people be able to make those -- be able to make those payments and stay in their homes.
Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy. And we've got to give some trust and confidence back to America.”
More questions about the economy and domestic policy were asked, which involved the bailout package, health care, entitlements, the environment, and energy. Senator Obama spent a lot of time comparing Senator McCain to President Bush and McCain responded by saying that “Senator Obama continuously compares me to President Bush, but there was an energy bill on the floor of the Senate loaded down with goodies, billions for the oil companies, and it was sponsored by Bush and Cheney.
You know who voted for it? You might never know. Senator Obama. You know who voted against it? Me.” This was one of the most remembered moments of the debate. Sometime was designated for questions about foreign policy and the wars in Iraq and Afghanistan. Before the candidates gave their closing statements, Senator Obama was asked about Senator Edwards and why he chose him. Obama answered by saying that he chose the former Senator because “He got elected to the Senate in a red state, and a state my advisors are convinced we can win and we felt having him on the ticket would increase our chances there. In 2004, I felt Senator Kerry made the right decision choosing Senator Edwards, and I too wanted to make the right choice, so I chose John, and I’m glad I did and think he’ll be one of the best Vice Presidents.”
Senator McCain was then asked about why he chose his running mate. McCain said that “I chose Governor Pawlenty because this is a man who won the governorship not once, but twice in a Democratic state and a governor who could work with Democrats in the legislature to get things done. Prior to serving as Governor, Tim served as a congressman in the Minnesota state house, and eventually became majority leader. I wanted someone with experience, someone who could be was qualified and ready to be President if necessary.
Senator Obama chose John Edwards. A man who only served one term in the senate, where he didn’t have much of a record, and then chose not to seek reelection in order to run for President because he knew he wouldn’t be reelected to the Senate, and since the Kerry/Edwards ticket was defeated four years ago, Mr. Edwards has not done anything of significance. Given this and the recent revelations, I don’t think Senator Obama exercised good judgment in picking the former Senator, nor do I think he’s exercising good judgment by letting him stay on the ticket.”
A CNN poll taken after the debate showed that 40% said the debate was a tie, 30% said McCain won, 30% said Obama won. A CBS poll taken showed similar results. Analysts and commentators had said that Senator Obama did well on the economy and domestic policy, although he didn’t do as well as he did in the first debate, and they also said he still somewhat under performed on foreign policy compared to Senator McCain. They also felt that Obama really fumbled when asked about his selection of John Edwards. They said Senator McCain did much better than expected and that his best moment was when he answered the question about why he picked Governor Pawlenty to be his running mate.
Italicized font= quotes from the actual debate.