My thoughts on the Presidential Debate: Part One

Well, the gloves have been thrown down. For the first debate, I must admit that it was, for the most part, well done. My personal opinion is that Barack Obama was much calmer, more respectful, and gave more substantiated viewpoints. I would like to go through question by question and give my thoughts.

Question #1: Where do you stand on the financial recovery plan?
Obama: Supports economic recovery so long as it is done with oversight, thoughtful planning, and protection for taxpayers & homeowners. He also noted that trickle-down economics do not work. Any economic plan must build from the working class up.
McCain: Thinks it is great that Republicans & Democrats are working together - that will fix the problem. (note - he did not answer the question or even remotely discuss any solutions.)
My thoughts: Obama gave a solid four part plan that supported economic stability coupled with fiscal responsibility. He also states an economic viewpoint that I believe - that trickle-down economics do not work. McCain blew a bunch of steam, but said nothing.

Question #2: same as question #1, since it was not fully addressed by either candidate
Obama: Cannot answer whether or not he will vote for the bill because it has not been written yet. Notes that any bill must include both short and long term solutions. Short term solutions include the current bill to financially prop up Wall Street. Long term solutions must come by changing the infrastructure to include oversight & regulation. There must be oversight that assures that working people are not getting worked over by those who can hire lobbyists. Focus should be on the working people.
McCain: Sure he'll vote for the bill. He saw this coming. They need to have accountability and those responsible for this debacle should resign. The problem is that Washington & Wall Street are greedy. He will hold people accountable for greedy behavior. He will do this by fixing the regulatory agencies that were not doing their jobs. American workers are the best in the world and their is nothing wrong with them, the problem is with the system, which he will fix. The right leadership (presumably his) will get America through this tough time.
My thoughts: McCain has a point that regulation & accountability are the key to preventing this problem from recurring; however vetoing every bill to come across his desk seems a little drastic. What about appropriations for social programs such as public schools, health care for the poor, and more? McCain also used this question to launch his first attack on Obama. I would also like to note that he said he would vote for the bill without having seen it. Obama, on the other hand, refused to commit to voting for or against the bill until after it is written. That seems to me to be a wise choice. In addition, Obama reiterated the need to refocus on what the govt can do for the people who are struggling.

Question #3: What would they do as President to lead us through this financial crisis?
McCain: He would get spending under control. To do this, he would eliminate earmarks & pork-barrel spending across the board by vetoing all spending bills to hit his desk. Accuses Obama of wasteful spending. Drives home the fact that wasteful Washington spending is the problem with the American economy. So basically, cut taxed & keep spending low is his recipe for economic success. Especially he wants to lower taxes on businesses to encourage them to keep their businesses here in America. For the American people, he wants to give tax cuts to allow them to purchase their own health care insurance.
Obama: Highlights the monetary difference between current earmarks ($18 billion) and McCain's proposed tax cuts ($300 billion). Obama would raise taxes only on the rich and cut taxes to the middle class and the working poor. This is the foundation for his bottom-up economic policy. He agreed that earmark reform is important, but he also wants to close the loopholes in the tax code that enables corporations to evade tax payments. He reiterated that the key was in the economic success of the middle class. With regard to McCain's health insurance tax cut, Obama accuses McCain of planning to tax health insurance coverage payments, which he says would effectively nullify the tax cut. He also stated that the current economic fiasco is evidence that deregulation does not solve problems, it creates them.
My thoughts: I feel that both candidates shared their viewpoints and took turns insulting each other's policies. Neither gave a good economic plan and neither answered the question. For me, Obama's ideas are more in line with my economic views.

Question #4: What spending will you give up as President in order to finance the bail-out?
Obama: He wants to spend on lots of important things: health care, energy Independence, education from preschool to college, & infrastructure. He states that he realizes that these will not be tackled all at once due to the financial crisis, but they will remain on the table and implemented as the become fiscally viable. In addition, he would support starting these programs by eliminating programs that do not work. He denied being ultra liberal, stating that he simply opposed bills proposed by the Bush Administration (which he stated that McCain himself had supported). He also noted (in response to a comment by McCain) that balancing the budget would require finesse ("you're using a hatchet when you need a scalpel") and he looked to the past (FDR in the Depression) for ideas of how to reestablish a strong government in a time of economic trouble.
McCain: He just wants to cut spending. Accused Obama of being too liberal. Advocated for elbow grease & a scrub brush to clean up all govt agencies. End subsidies & only take on fixed-contracts (So the price you settle on is the price you pay). Any wasteful spending should be killed. In fact, he promised to freeze all spending except on defense, veterans affairs, & entitlement programs (Social Security, Medicare, & Medicaid). He hinted that he wants to fund alternative energy. In addition, he went off on a long tangent about creating jobs by funding nuclear power plants. Again he reiterated that only programs he deems important should be funded. He said that taxes will stay lower if govt stays out of free markets - including heath care.
My thoughts: McCain's plan seemed broad, hazy, and fraught with the Bushian "trust me to do it right" attitude. Though I agree that wasteful spending needs to be kicked to the curb, absolute freeze of all spending will hurt a lot of people who depend on govt aid. In addition, McCain did not seem to be very solid on what he would spend money on. First he said complete freeze, then freeze on all but three things (all of which are currently big-spending, highly inefficient programs), and finally he swished in a maybe energy reform too. It seemed very wishy-washy and not well-though out. Obama did not change his position on spending. He stated that he wanted to curb wasteful programs to make way for new efficient ones. I think that Obama was very clearly thinking in the long-term, not in the short-term. To me, this is the planning necessary for a good leader.

Well, it is late, I will continue with part two tomorrow. Thank you for reading. Feel free to comment/criticize.