The October 7 debate, sponsored by the Commission on Presidential Debates, took place in Belmont University, Nashville, Tennessee and Tom Brokaw (NBC News) was the moderator. Questions were selected from thousands of online messages and were based on domestic and foreign policy. Overall, the issue that dominated the debate was the economy with both candidates pointing out the mistakes of the past and laying down their plan for the future. Senator Obama and McCain on the economy
Senator Obama started with pointing out that the country is in the worst economic crisis since the Great Depression and people are worried by about their jobs, pensions and their ability to send their children to schools. Senator Obama stated that the crisis was as a result of failed economic policies of the George Bush regime. Obama emphasized on regulating Wall Street, cracking down on CEOs and making sure they don’t get bonuses and giving the middle class tax cuts.
Senator McCain puts the blame on the democrats in the senate and in the congress who defended Fannie Mae and Freddie Mac. Senator McCain plan is to stabilize home values and buy up bad loans. He also does not propose any tax cuts or increases. Senator Obama and McCain on energy Senator McCain’s plan is to enhance the use of nuclear energy since it is, as he puts it, safe and reliable. An added advantage of nuclear energy, according to him, is that the nuclear fuel spent can be reprocessed. Senator Obama puts energy among his top priority issues should he go ahead and win the presidency.
He states that high gas prices are not only a strain to the family budget but also a threat to national security since countries like Russia and Venezuela were benefiting from high oil prices. Obama proposes a $15 billion ten year plan to guarantee independence from Middle Eastern oil. Senator Obama and McCain on health care Senator Obama proposes to lower the cost of premiums by up to $2,500 a year by investing in prevention. He puts emphasis on using information technology so that medical records are put in computers rather than in hospital forms.
Senator McCain notes how everyone is struggling with health care and proposes giving every American a $5,000 refundable tax credit so that they can get their health care insurance. The October 15 debate took place in Hofstra University, Hempstead, New York and Bob Schieffer (CBS News) was the moderator. Focus on that day was on domestic policy. Senator McCain and Obama on economy Senator McCain once again blamed the input that Fannie Mae and Freddie Mac had that caused the housing market to collapse.
Of the $700 billion allocated, McCain proposes to use 300 of that to buy the home loan mortgages and negotiate with home owners. Senator Obama reiterates that the financial rescue plan is an important step and proposes ending tax breaks for companies shipping jobs oversees and provide tax credit for companies creating jobs domestically. Senator Obama and McCain on energy Senator McCain plans to stop spending $700 billion annually in other countries on energy. He plans on investing in wind, tide, natural gas, nuclear and offshore drilling.
He also suggests that Senator Obama is opposed to such initiatives. Senator Obama says that investing in a serious energy policy should help America to stop borrowing from China and spending in Saudi Arabia. Senator Obama and McCain on climate change The issue of energy and climate change goes hand in hand. Obama again talks of his plan to stop foreign oil dependence and making the oil companies drill from their unused land. He also says that he has focused on putting resource into solar, wind, bio-diesel and geothermal. Senator McCain points out the importance of starting offshore drilling right away.