Sunday, Sept. 28,2008 8:45 p.m.
Barack Obama and John McCain managed to spend a great deal of time
talking about a bailout without really saying anything about it.Both
candidates assured us there was no social program or tax-cut that
couldn’t be paid for simply by cutting wasteful spending or closing
corporate tax loopholes; and, in a move that surely ruined drinking
games across the country, McCain hardly ever said “my friends.”Disappointing.That
sums up the first debate. Nearly the first 40 minutes involved the
bailout and the financial crisis. Instead of really talking about the
bailout plan, both candidates just reverted back to their standard
economic talking points. McCain talked about reducing
earmark expenditures and lowering taxes, repeating a long-rebuked claim
that Obama had voted to raise taxes on people making $42,000 a year.
Obama, for his part, was unwilling to acknowledge that the $700 billion
bailout could spell certain doom for several of his projects.