Presidential Debate Live Blog.

The 2 candidates sparred last night in a “town hall” forum. Each took questions from the audience – and Tom Brokaw was the moderator.

Find the full text of our live blog after the jump.

2nd Presidential Debate (10/07/2008)
8:52
tonight’s debate will begin in about 7 minutes
8:52
the format tonight is “town hall”
8:53
the candidates will be taking (preselected) questions from audience members. the audience is made up of undecided voters
8:54
Tom Brokaw of NBC News will be the moderator
8:56
Tonight’s debate is taking place in Nashville TN – at Belmont University
9:00
the debate is scheduled to last 90 minutes
9:01
Tom Brokaw knows the questions – but the candidates do not
9:01
it has begun
9:02
80 uncommitted voters are in the audience
9:02
questions are from the audience and internet
9:03
TB- many questions have to do with the economy
9:04
1st question – with the econ on the downturn – what is the fastest solution to bailout the people?
9:06
Obama – a lot of you are worried about your finances – i believe that this is the final verdict on the Bush admin – it hasn’t worked. we need to take action. step one – make sure that bailout works – oversight – to protect investors – and we need to overview CEOs. Step 2 – middle class – tax breaks, help for home owners and state governments.
9:08
McCain – Americans are angry – it’s our job to fix this problem. Energy independence. Lower taxes for everyone. Reduce spending. This problem has become so severe that we are going to have to do something about home values. The Secretary of Treasury would buy up bad mortgages. Would it be expensive – yes. I know how to get America back to work – it’s my plan
9:09
Brokaw asks – who would you name as secretary of treasury>
9:09
McCain – that’s a tough question – it should be someone who the american people identify with
9:10
we need to have trust in our officials
9:10
Obama – Warren BUffet would be good
9:11
it’s not enough to help those at the top – we need someone who will look out for the middule class. It’s getting harder and harder to save and to retire.
9:11
Next question: through econ crisis – and bailout package – what in the package is going to help people out
9:12
McCain – i think it’s a rescue. I suspended my campaign to go back and make sure that tax payers would be represented.
9:14
Fannie Mae was the crux. they lended greedily – democrats avoided change. Obaqma was the highest recipiant of Freddie Mac money in history. We’re going to have to buy up bad loans – but Freddie and Fannie were the catalyst.
9:16
Obama – what’s in the package for you – right now the credit market is closed – businesses can’t get loans. we had to take action to alliviate this. But let me correct Senator McCain. It was deregulation – but 2 years ago I wrote to Paulson and the Fed Reserve about sub prime loans – I went to Wall Street and talked about deregulation. but I’m not going to point fingers – this is the beginning of the process – the secretary has the power to strengthen homeowners
9:16
brokaw – are you saying the econ is going to get worse?
9:17
Obama – no – but we need to act. We need to help ordinary families stay in their homes and deal with issues of engery
9:18
McCain – it depends on what we do – I think we need to help homeowners. We need to get rid of cronyism
9:18
AMericans are the best workers – we gotta give them a chance
9:19
Next question: How can we trust either of you with our money when both parties got us into this global crisis?
9:20
Obama – I understand – but we need to remember – when George Bush came into office – we had a surplus – no longer – largest increases in budget deficit and debt.
9:21
we’re going to need to work this out – but we do need to make some investments – but we are going to cut as well – we’re going to represent your interests and not the lobbyists
9:23
McCain – i understand your mistrust – I have a clear record of bipartisianship – Senator Obama has never taken on his party. We need reform. I have fought against big spending and earmarks. Senator Obama voted for every increase in spending – he voted for nearly $1billion for pork barrel spending
9:23
800 billion in new spending.
9:23
***800 billion doesn’t seem so much in the light of the bailout
9:24
Brokaw – health care, energy, social security – what is your priority?
9:24
mccain – all 3 are important
9:25
bi partisianship will be needed to work on these – I can do that
9:26
Obama – energy – we have to deal with today – it’s bad for your budget and our national security
9:26
[Comment From Laura]
Obama knows the local cost of gas in Nashville — good for him
9:27
healthcare is priority #2 #3 is education –
9:27
[Comment From Laura]
Education!! Yes!!
9:27
but McCain said we need to go back to our records – and yes, we do
9:28
Senator McCain approves additional tax breaks to big business
9:28
Brokaw chides them again on time management
9:28
What sacrfices will you ask american people to make?
9:28
[Comment From Laura]
Oooh. He’s asking about sacrifices
9:29
McCain – we’re going to have to cut programs
9:29
I believe that we have to eliminate earmarks
9:29
spending is going to have to be cut in america
9:30
i recommend a spending freeze
9:30
[Comment From Laura]
overhead projector — did McCain mean it was one of the good ones or one of the bad ones? Unclear sentence structure
9:30
[Comment From Laura]
We’re not rifleshots here — huh?
9:31
Obama – on 9/11 all of the country was ready to come together – and one opportunity that was missed was a call to service
9:32
We have to think about how we use energy
9:33
clean coal technology and safe nuclear
9:33
[Comment From Laura]
Conservation at home — a lesson I remember from the late 70s in grade school! Obama’s bringing it back! It’s about time.
9:33
Brokaw – how will you break the bad habits of too much credit?
9:34
Obama – I think it starts in Washington – it means looking at the spending and the revenue side.
9:35
a freeze is an example of unfair burden
9:36
McCain – Obama wants to raise taxes – the last president who raised taxes during economic crisis was Herbert Hoover.
9:38
Next Question: huge unfunded obligation of Social Security – would you give congress a date certain to reform Social Security
9:39
Obama – we’re going to have to take on entitlements – but we’re not going to fix Social Security or Medicare until we talk about taxes.
9:39
I want to cut taxes for those who make less than $250K
9:40
i want to make health care affordable. McCain wants to make tax cuts – that is not fair – and it doesn’t work. we need to get our tax policies right and make them work for the middle class
9:40
[Comment From Laura]
Cuts for CEOs promised by McCain, says Obama
9:41
[Comment From Laura]
“our wonderful Ronald Reagan” says McCain
9:41
McCain – it’s not that hard to fix Social Security – we know what to do – it’s not that hard – we’ve done it before – we need to sit down and get it done
9:42
Medicare is a little more difficult – but we need to get the best people to come up with a plan
9:42
back on taxes – obama has voted 94 times to increase taxes or against tax cuts
9:43
Next Question – Congress moved pretty fast – what would you do to make sure that congress moved fast for energy and environmental issues
9:44
McCain – i have disagreed with the Bush admin – and we kept the debate going
9:44
what’s the best way to fix it? Nuclear power – it’s safe and it’s clean -
9:44
Obama is opposed to it – but we can do it
9:45
Obama: this is one of the biggest challanges of our times
9:46
and we need to make an investment
9:47
new energy would create a new economy – and jobs
9:48
Browkaw – should we fund a project to make new technology or should we fund private sector
9:48
[Comment From Laura]
McCain was just a butt about the time constraints, I think “*I’LL look at ya, Tom”
9:49
McCain is not answering the question -
9:49
talking of pork and off shore drilling
9:50
Next question: health care has become a successful comodity – should it be sold as such?
9:50
Obama – through my travels – this is the number one priority
9:51
we have a moral and economic responsibilites
9:52
we’re going to work on lowering costs – if you don’t have health care – we’re going to get you the same health care that we have. McCain has a different approach – he’s going to give you a tax credit – but he’s going to tax your employer based health care
9:54
MCCain – health care costs go up – let’s make it more efficient – Obama wants the goverment to do this and that – he’s going to fine you if you don’t insure your employees. Under my plan you’ll be able to cross state lines -
9:55
we have to give people choice and the wherewithall to do it
9:55
[Comment From Laura]
Did McCain just say hair transplants?
9:55
yes
9:56
McCain – health care is a responsibility – everyone should have the opportunity to have health care
9:56
[Comment From Laura]
I thought so — I went into the kitchen for a second
9:56
Obama – I think it should be a right
9:56
[Comment From Laura]
What is with all this talk about fines??
9:57
they have preagreed to time limits -
9:57
[Comment From Laura]
Health care is a right says Obama, citing his own mom
9:57
[Comment From Laura]
I agree that “pre-existing conditions” are a BIG deal
9:57
[Comment From Laura]
What if you change jobs and are forced to change insurers as a result? What will you do about pre-existing conditions? I hate that rule.
10:00
[Comment From Laura]
At my last job if you didn’t pay a HUGE extra premium for obstetric care (and I mean HUGE) your pregnancy would be pre-existing and not covered.
10:00
Next question: how will all the economic stress affect our ability in peace keeping situations in the future
10:01
MCCain – we are peace makers – we need to know when it is benefical to the US – and that can only be made by someone who knows – preventing genocide and terrorism. My record will show that I can do it
10:01
Senator Obama was wrong about Iraq
10:03
Obama – Senator McCain suggests that i don’t understand – he’s right – i don’t understand how we invade a country that had nothing to do with 8/11 – Senator McCain supported that – but it’s been a strain on our people and on our finances
10:03
The Iraqi government has a surplus – but we’re spending $10B a month
10:04
[Comment From Laura]
Darfur!! Yes!
10:04
Brokaw – a situation where the situation is grave but not national security at stake
10:06
Obama – maybe not national security – but moral obligation – when genocide is happening – and we stand by – then that deminishes us – but understand that we’re not going to be able to be everywhere all the time – so we have to work in concert with our allies – we could be helping at little to no cost – but only if we can mobilize
10:07
McCain – if we had done what Obama wanted to do – we’d have a much more dangerous situation – Obama would have brought them home with defeat – I’ll bring them home with honor.
10:08
We need to be able to beneficially affect the situations
10:09
Next Question: should the US respect Pakistani sovernity or go after terrorists
10:09
Obama – part of the problem is that we should have finished the job before we went into Iraq
10:09
[Comment From Laura]
Bin Laden — we let him escape
10:11
We can’t coddle a dictator – we need to encourage democracy – make sure that they have a stake in working with us. We will kill Bin Laden we will crush Al Quada
10:12
McCain – Obama would annoounce that he would attack Pakistan
10:12
our relations with pakistan is critical because the border areas are being used be terrorists
10:13
we need to get the support of the people -
10:14
Obama wants to follow up
I want to be clear – if Pakistan is unable or unwilling to take out bin laden – we will
10:14
[Comment From Teni Martin]
McCain Comes across as angry, accusatory and desperate
10:14
I agree that we have to speak and act responsibility
10:15
the pakistani people don’t like us because we supported a dictator
10:15
[Comment From Teni Martin]
Between He and Palin’s nasty antics they have lost my vote
10:16
[Comment From Teni Martin]
Then he smirks and stands cockily on the sidelines like he is grandstanding…that is so 7th grade…not Presidential at all…
10:16
Brokaw – Commander says that we can’t win in Afghanistan
10:18
Obama – Iraqi government needs to take responsibility – we need to send more troops to Afghanistan – we need to gain popular support and a government that is responsive to the afghani people
10:19
McCain – we need to do a lot of things – we need to have the same strategy – Obama won’t admit that he was wrong about Iraq – people need to feel safe to lead normal lives
10:19
Next question: how can we apply pressure on Russia for humanitarian issues
10:20
MCCain – I warned long ago about Vladimir Putin -
10:20
we have to show moral support for Georgia and Ukraine
10:21
The Russians must understand that these activities are not acceptable
10:22
Obama – resurgance of russia is a central issue – for the most part I agree with Senator McCain – but we also have to assist them with financial and concrete help for the economies – back in april I said that the situation in Geogia was unsustainable -
10:23
making sure that we can see and anticipate the challanges
10:23
Energy is going to be key when dealing with russia
10:24
is Russia an evil empire?
10:24
Obama – they’ve engaged in evil actions
10:24
McCain – maybe -
10:24
McCain – I think we can deal with them – but we will defend our interests
10:25
[Comment From Laura]
I can’t believe the cold war is back in play 20 years on . . . this all fits in with Palin’s end times stuff, doesn’t it?
10:25
Questions – if Iran attacks Israel – would you defend?
10:26
[Comment From Laura]
OOooh. tough one.
10:26
McCain – we would not wait for the UN -
10:26
[Comment From Fwd Up]
what the hell is McCain talking ab out
10:26
iran is well on their way to get nuclear weapons -
10:26
[Comment From Laura]
pre-conditions again
10:27
[Comment From Laura]
joining with our allies? like SPAIN???
10:27
Obama – we can not let iran to get a nuclear weapon
10:28
it would increase the possibility of nuclear weapons to get in the hands of terrorists
10:28
we need to use all the tools at our disposal
10:28
[Comment From Laura]
preventing the worst case scenario is important says Obama
10:28
[Comment From Teni Martin]
Didn’t Palin announce that she was for attacking Pakistan ?
10:29
she retracted that
10:30
we’ve got to try to get talks understanding that we won’t take military off the table
10:30
[Comment From Laura]
she doesn’t know what she’s saying half the time, I fear
10:30
[Comment From Teni Martin]
When she was sitting with McCain ?
10:30
Question – what don’t you know – and how will you learn it?
10:30
[Comment From Laura]
A zen-like question about learning
10:30
[Comment From Laura]
from New Hampshire
10:31
[Comment From Laura]
Obsama
10:31
[Comment From Laura]
Obama’s doing the single mom thing again, which I think is legit
10:32
[Comment From Laura]
typo before — watching and typing is hard!
10:32
[Comment From Teni Martin]
I think she AND McCain are too hot-headed and angry and as full of themselves as G.B. and will keep our wonderful country (at least it USED to be ) Down the wrong road. It hurts that we have gone from a beloved nation to one of the most HATED countries in the world !!!!!
10:33
McCain- what i don’t know is what’s going to happen here and abroad
10:33
but I have spent my whole life defending this country – I know what it’s like to get through dark times
10:33
[Comment From Laura]
mcCain — I’ve spent my whole life serving this country
10:34
I believe in this country – I believe in its future
10:34
That concludes tonight’s debate
10:34
[Comment From Laura]
I’ll rest on my record says “outsider” McCain
10:35
[Comment From Laura]
Interesting night
10:35
a much different format – no closing statements
10:35
[Comment From Laura]
I think Obama takes it, but then I agree with him 95% of the time
10:36
[Comment From Laura]
I like McCain a LOT less than I used to, though
10:36
[Comment From Laura]
He used to be my “consolation prize” if the GOP won — no more
10:37
[Comment From Laura]
The scary racist attacks and the faux-suspension drama and all that have made me see him as scarier than W — I hope I’m wrong, but that’s how it strikes me
10:38
[Comment From Laura]
But they both did okay tonight, I think, even though I think Obama did better
10:38
it will be interesting to see what the pundits say
10:38
[Comment From Teni Martin]
I am raising a Grandson and I want HIM to be proud of who he is and where he lives..Jesus was a Liberal and said we ARE our Brothers keepers not just responsible to ourselves and our immediate friends…I do not believe McCain can see below himself to try and comprehend what it is like to have to decide weather we are going to have meat 5 times this week or give up two more nights so I can buy my Grandson a 13.00 pair of sneakers from Walmart. Or what it is like to have to save 2.00 a week to have the money to replace a worn tire before winter hits…..I’ll vote Obama
10:40
Chris Matthews this that this debate got to a lot more substance than he had expected
10:41
James Carville is on CNN. He thinks Obama won the debate
10:42
bill Bennet – doesn’t think that the camgaign lives up to the man or the story and that tonight was not what it needed to be
10:42
[Comment From Laura]
I have begun to worry that Palin is pushing McCain’s campaign around and that’s REALLY why they’ve been keeping her limited
10:44
Well, I’ll leave you to digest the debate and the pundits’ views thanks for participating! One more debate.