2008 U.S. Presidential Debate-McCain/Obama
Foreign Policy, National Security, Financial Crisis Discussed
Oct 1, 2008
Moderated by Jim Lehrer, veteran host of PBS's NewsHour and moderator of ten Presidential debates during the last five elections, the first 2008 debate took place in Oxford, Mississippi on September 26th, between Democratic nominee Senator Barack Obama, of Illinois, and Republican nominee Senator John McCain, of Arizona.
The two primary issues at the fore of the debate were foreign policy and national security. Lehrer preemptively introduced an additional issue, what he termed the current "global financial crisis," to the discussion, stating that it was "by definition" directly related to American interests in the aforementioned topics.
Both candidates strove to achieve visibly "presidential" demeanors, McCain adopting a strategy of avoiding direct eye-contact with his opponent while discussing Russia, Georgia, and Iraq, and Obama conversely choosing to address the camera while speaking about his commitment to using direct diplomacy to deal with those countries.
The Elephant in the Room
Lehrer's lead question of the evening concerned where both candidates stand on the current financial recovery plan. By privilege awarded by a behind-the-scenes coin toss, Senator Obama spoke first on the issue. He began by characterizing the current U.S. economic situation as "the worst financial crisis we've faced since the Great Depression," going on to say that the fundamentals of the economy should be measured by whether or not the middle class is getting a "fair shake."
Obama resisted comment on specific tenets of the plan then poised to go before the House, citing his belief that such comments would prove irresponsible until specific language of the plan was released.
Both Candidates Weigh In on the Economy, Sort-of
Senator Obama blamed, among other things, deregulation of sub-prime lending for the current U.S. financial travails, which led to irresponsible lending and investment practices. Additionally, he specifically mentioned making contact with Secretary of the Treasury, Henry Paulson, in 2007, in an attempt to stress the import of immediate Congressional action to defray a future crisis.
McCain responded by voicing a commitment to streamlining government bureaucracy. He stated that it has been a lack of "stricter interpretation and consolidation of the various regulatory agencies not doing their jobs that brought about this crisis," but provided no specifics about how merely curbing inefficiencies within government agencies will cure Wall Street's problems.
Neither candidate spoke at length about the global financial crisis during the first debate. Foreign policy, however, widely regarded as a strong discussion platform for Senator McCain, drew heavy comment from both senators.
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