Ready for Round Two Gentlemen?

So tonight I enjoyed the town hall style debate much more than the formalized setting of the first debate, mainly because I felt the first lacked substance and both candidates attacked each other's policies rather than attacking the issues. Still, I am not convinced that I found out anything new from this debate, because their answers were somewhat repetitive of the entire campaign season. Maybe that just means I'm informed? I hope so. The (kind of) new issue with the economic crisis was the most important aspect of the debate because it is still a question very much on voters minds, especially after the DOW dropped more than five hundred points today.

In reference to the economic crisis our country faces, Senator Obama placed blame on the Bush administration for poor leadership and on Senator McCain for his former policy of deregulation of mortgage lending and Wall Street. Obama then touted his past of demanding regulation in letters to Federal Reserve Chairman Bernake and to Congress. He reinforced his argument as an agent of change by focusing on his own form of a bailout through a rescue package for homeowners. The New York Times reports tonight that Obama “actively engaged Mr. McCain, and repeatedly focused on the bread-and-butter struggles of Americans, vowing to help them with a “rescue package” for the middle class, not only for banks and insurance companies on Wall Street. The first part of the package, he said, would be tax cuts for all American households making less than $250,000 a year.”

When both candidates were asked about the order three main issues—energy, healthcare, and social security—on their agendas, Obama clearly listed energy above healthcare as an immediate need, while McCain said that all issues could be addressed at once, but he would like to focus more on social security. Obama’s plan for healthcare is one his most well-known policies and something he cares strongly about, but it is a relief to know he sees the need for more attention to be paid to our energy crisis right now, and that fixing or improving the current healthcare system is a long-term goal. He vows to be less reliant on foreign oil within ten years, but at the cost of fifteen billion dollars per year. He may have to draw out his plan if our economy does not see an upturn sometime soon; something both candidates must consider about their entire platforms. This idea has not struck John McCain; he introduced a new, costly aspect to his campaign—his promise to bailout not only Wall Street, but also Main Street. He said he will launch a federal program to buy failing mortgages directly from homeowners and mortgage providers and replace them with fixed-rate mortgages. According to the LA Times tonight, a fact sheet from his campaign said the plan would cost taxpayers roughly $300 billion. He admitted the plan is expensive but the rest of the economy depends on it.