Third 2008 Presidential Debate - McCain v. Obama

Third and final debate. We're sitting down this time! Totally different format than when they stood behind the podiums.

McCain starts off the debate by reaffirming his wish to buy out and forgive sections of mortgages. I do not think this goes over very well with anyone. McCain says it benefits people who've paid for their house because the house next door won't be empty. I guess I wouldn't really care, because I'd have my house paid for and declining value of my house means I pay less taxes. Seems like pick and choose Socialism to me.

Both these guys are left-handed. Seems odd.

Obama said him and McCain voted for the "economic recovery plan." That is a loose interpretation of the bill that Congress passed. They gave a TON of money to one guy, and told him to fix it. I guess that's what they consider a plan in Washington.

"Joe the Plumber" - this seems slightly demeaning. It's a cheap attempt at a sound bite by the McCain campaign. I hear he used this phrase 20 times. About someone the Obama had met at a campaign stop.

Taxes are only paid on profits, right? I wouldn't think that the tax rate would have anything to do with whether Joe the Plumber can buy his plumbing business. If it takes 100k to run, and he makes 200k, the other 100k (minus taxes) goes into his pocket. Lower taxes, it looks like to me, would go into his pocket. If someone has another take, I'd like to hear it.

McCain reminds me of Powder.

Obama looks like he's wearing the same suit as the last debate.

Schieffer is asking what programs they will cut, and neither of them want to give specifics. McCain says energy independence will create millions of jobs. Energy independence will be a great thing for America when we get there - in 30+ years.

McCain doesn't support subsidies for ethanol because he thinks it distorts the market. Uh, and 700 billion dollars of government intervention won't?

McCain with another zinger. Obama, if you wanted to run against Bush, you should have run 4 years ago. McCain ran against Bush 8 years ago, and lost.

"Clean coal technology" is probably 5-10 years away from being commercially viable, so don't get too excited about Obama's support for that.

McCain seems spiteful. And right after that Schieffer calls both candidates out about saying they would run high road campaigns. Sweet question from the moderator. Crappy answers. McCain answers this question by tying Obama to someone who said McCain was racist. This question turned out terrible. Both bash each other and then complain that the other one is running negative ads.

Apparently McCain made Obama pinky-swear that they would both use public financing, but Obama had his fingers crossed.

ACORN is responsible for "possibly the greatest fraud in voter history." "destroy the very fabric of democracy" That might be an overstatement.

"Repudiate" - I don't think I'd heard that word before McCain used it a couple weeks ago. Is it even a really word?

"worst financial crisis since the great depression" - Obama has used this twice now. I don't care much for politics of fear.

Obama is doing a nice job of using numbers and percentages. He's doing some name-dropping, too. It is an effective way of showing that McCain doesn't seem to consult with advisers when coming up with foreign and domestic policy ideas.

Obama - "Eight years of failed policies"

McCain is slipping up quite a bit tonight. The natural gas pipeline from Alaska probably won't "solve the energy needs of the lower 48."

Biden voted against the first Iraq war, which we needed so that Saddam wouldn't take over the mid-east oil supply. That doesn't seem like a very noble reason to start a war. I figured it had something to do with the oppression of Kuwaiti citizens. Maybe if the mid-east oil supply was cut off, we'd be energy independent now!

Clean coal technology is a key for energy independence - BUT IT DOESN'T EXIST YET! Best bet is 2020 before it is commercially viable.

Obama says borrowing hundreds of billions from China and sending it to Saudi Arabia for oil "is mortgaging our future." Maybe sometime down the road, China will let us renegotiate and make 30% of the principle disappear like McCain wants to do with home mortgages, but I wouldn't bet on it.

Note - Offshore drilling won't add to the oil supply for about 10 years, but everyone is pushing for it. The best way to lower the price and overall usage is lowering demand. The demand is relatively inelastic. For a given change in price, demand is affected minimally. Conversely, a small change in demand would result in a large change in price. Our resources are limited, and would not support our current usage. Oil independence will require efficiencies.

McCain looks like crap. His eyes are all red and watering. He's getting old, and I think he might have pink eye.

McCain is hung up on "spreading the wealth." It's not okay for rich people to pay more taxes because they can afford it, but it's okay to use my tax money to pay for my neighbor's ill-advised mortgage. Pick and choose socialism.

Palin's kid is autistic, too? McCain made it sound like that.

Schieffer: "How would you reform education" Candidates: "Well, we have to reform it! Vouchers, blah, blah, blah, charters, blah, transparency, blah, blah, get rid of bad teachers, blah, blah. But education should be handled at the local level."

McCain is going crazy. I think this is it for his campaign. Obama will roll in November.