Economy a Pressing Concern

It was another boiling day on Wall Street. With the promising $700-billion bailout rejected by Congress, the economic crisis is reaching its "heavy toll." Early this morning President Bush tried to persuade reluctant members of Congress that the measure “addresses the root cause of the financial crisis.” However, the final vote was “205 in favor and 228 against,” with only “one-third of House Republicans” supporting the bill. Adding to Wall Street’s woes, the Doe Jones Industrial Average went down by 778 points, and Wachovia Corp. "slid" by 82 percent after it was sold to Citigroup in a “deal brokered by the Federal Insurance Corporation.”
In the background of the crisis, presidential candidates Senator John McCain and Senator Barack Obama clashed on each other’s support of the bailout. McCain stated that he worked stealthily in “playing a constructive role in bringing everyone to the table,” while Obama “urged voters to consider McCain’s record of favoring deregulation” when choosing the best leader for the country.
During the first presidential debate last Friday, both candidates demonstrated their differences in economic approaches, with McCain stating that he would “cut spending” and “keep taxes low,” and Obama promising to introduce “energy independence” and not give tax cuts to big businesses. However, the candidates did not directly respond to what they would have to “give up for the rescue plan,” with McCain vaguely mentioning a “spending freeze.”
More talk about the economic crisis is sure to come back on Thursday, during the vice-presidential debate, but the picture does not seem like it will become clearer.

Make Room for the VP's

"I love the vice presidential debate; it's always the one I look forward to the most...The stakes are lower, so the candidates usually attack harder. It's much better political theater."

-Alan Schroeder, author of "Presidential Debates: 40 Years of High-Risk TV" and a journalism professor at Northeastern U.

I watched the presidential debate in an airport terminal before my flight to LA. I sat with strangers, and almost everyone present felt there had been no clear winner. Some were convinced by McCain's experience and readiness to lead while others felt Obama will be the best man to pull the nation out of its current slump. Many expressed disappointment that the economy was not discussed enough. I spoke with one gentleman who happened to be a Yale and Harvard Business graduate, who explained to me that neither candidate really had a plan yet for the economy in addition to his personal views. This gentleman has his own blog, and he does lean to the right. Just thought it was interesting to share with y'all a fellow blogger's work. 

Going back to the main topic, we're all in for a treat this week with the vice presidential debate. Vice presidential candidates tend to be looser and will express their views far more clearly than the presidential candidates. 

Both VP candidates have their work cut out for them, especially Palin, who's lack of experience and knowledge during interviews has made many on both sides skeptical of her abilities. She has until Thursday to "brush up", but Biden would be foolish to underestimate her, despite his strong experience and knowledge of foreign affairs. Biden, who seems to be frustrated by the lack of attention placed on him since Palin was announced as the Republican VP pick, also has to watch his tongue and his famous temper. 

The purpose of the presidential debate

"The debate featured a few good moments but no knock-out blows. McCain attacked Obama’s experience and Obama challenged McCain’s judgment. But both candidates left a lot out."
- Frank Sesno CNN special correspondent.
That being said, it is important to understand that the purpose of the presidential debates is not to determine a specific winner, but to instead clearly differentiate the stances of the two candidates on the issues.
According to political pundits on CNN, historically, people have not changed their minds on who they are going to vote for based on who wins or supposedly is said to have won the debate. This is obviously true after several of the expert reactions to the Bush - Kerry debates. In addition, the public reaction poll at the bottom of the screen during the live debate showed that democrats generally showed positive reaction when Obama was speaking and republicans generally showed positive reaction when McCain was speaking.
This debate specifically about foreign policy and the economy crisis simply confirmed voters reasons for supporting each candidates policies. Although McCain should have been stronger within this topic by clearly pointing out Obama's lack of experience, neither candidate seemed to stand out in this region. In terms of the economic crisis, neither of the candidates explained exactly what they are going to do because the fact remains that no one can call the solvency of the situation at the moment.
Through this and the future debates the American public can be assured however that, as was done yesterday, both the presidential and vice presidential candidates will prove there calm, structured, and consistent manner towards pre - discussed policy. This will only confirm voters ideas on why and for whom they are voting no matter what statistics or political pundits say.

Spinning the debate

So called political experts say the debate was close, with some giving it to McCain, and others to Obama. But in this era of live blogging and YouTube videos, it matters not what the experts say, but rather, who the American people "perceive" to be the winner. Both campaigns are already calling the night a victory, trying to spin the debate into an event featuring their own success and their opponent's mistakes - Obama's campaign believes the debate showed that McCain is not in tune with the middle class, while McCain's campaign believes the debate highlights Obama's inefficiency at handling foreign affairs.

Reactions to Debate

I was sitting in the I-House today watching the Presidential Debates with several others in a large room as they concentrated faithfully on the TV screen, trying to follow each candidate in the formation of their ideas. And just as the newspaper editors and political pundits, their reactions were mixed. Most thought the debate was exciting and brought out good points, but others felt that the candidates weren't on their best game tonight. It will be interesting to see exactly how people's opinions of the candidates are affected by the debates in the following days.

Is McCain Incompetent Afterall?

September 25, 2008 marks the date that McCain decides to play chicken. Surprising Americans everywhere by postponing the first Presidential Debate against Obama on Friday, September 26, 2008, McCain proves unreliable and incompetent for presidential status. Leaving the American people with no response to how he will intend to lead the country, McCain saw it more fit, or convenient, to bail out of confronting Obama and "put politics aside and deal with the fiscal crisis". Perfect timing!

McCain's Risky Move to Suspend Campaigining Could Make or Break His Political Future

Republican Presidential Candidate, John McCain, has made a sudden decision to delay both campaigning and the upcoming debate. He has chosen this course of action so that he could return to Washington and aid in the bipartisan negotiation over the financial bill, drawn up to save the country from the increasingly high chances of mass economic meltdown. From a campaign perspective, his constituents will react strongly one way or the other to such a bold decision. It is possible voters will appreciate the "country-first" attitude that McCain is aiming to portray. However, if the project in congress is unsuccessful and he fails to debate Obama over plans for the immediate future, McCain risks losing lots of support. While McCain's ultimate motives for heading to Washington are still unclear, "He managed once again, at least in the short term, to shake up the presidential race at a time when national and state polls show Obama opening up a clear lead" (Washington Post).