We’ll be liveblogging the second Presidential debate right here.

9:03 Browkaw shows his bias: “The world has changed a great deal since you last met, and not for the better”

Both candidates gave their stump speech on the economy. What is this lame follow-up quesion by Brokaw on who the candidates would pick as Treasury Secretary? Neither candidate is firing on all cylinders yet.

Oliver Clark: What exactly in the bailout package will help us out?

McCain: Not a bailout; a rescue. A history of Fannie Mae and Freddie Mac and Obama and company pushing for Fannie and Freddie to underwrite bad loans while I fought for legislation to restrain Fannie Mae and Freddie Mac. McCain scores.

Obama: Calls bailout a “rescue package” just like McCain. How the “rescue” benefits small business owners on mainstreet. Blames McCain for deregulation of financial system. Claims he addressed the subprime lending crisis two years ago with Paulson and others. Evidence please?

Brokaw to Obama: Are you saying he American economy is going to get worse before it gets better?

Obama: No. I have confidence in the American economy.

McCain: I think it depends on what we do. If we act effectively by stablizing housing, buying up bad loans. We can fix this economy because the American workers are the best in the world. Give them a chance to do their best again. We can do it.

Teresa Finch: How can we trust either of you wioth our money when both parties got us into this crisis?

Obama: I understand your cynicism. A history lesson on why George Bush is to blame. He will fix it with government health care and tuition credits.

McCain: I can see why you feel that cynicism and mistrust. The system in Washington is broken. I have been a consistent reformer across party lines. The situation today cries out for bipartisanship. Senator Obama does not have a record of bipartisanship. He has the most liberal big spending record in history. Obama is proposing $800 billion dollars in NEW spending. Voted for every spending increase that came to the Senate floor.

Brokaw: What will be your highest priorities among health care, energy, and entitlement reform?

McCain: Work on all three at once.

(This is a boring debate. Which means McCain is losing.)

Obama: Actually prioritizes the three areas Brokaw asked about. Obama scores.

Aside: Which of his aides told Obama Nashville was paying $3.80 a gallon for gas?

Internet Question: As president, what sacrifices will you ask the American people to make?

McCain: We may have to eliminate some programs that are not working. Eliminate earmarks. Spending is going to have to be cut. Recommends a spending freeze except for defense.

Obama: SIghs and stumbles. Remembers 9/11?? Blames Bush again for encouraging consumerism. Obama has forgotten that the question is, What sacrifices will YOU ask the American people to make? Save energy in our homes, drive fuel efficient cars. Where are the sacrifices, Senator?

Brokaw: Bush said Wall Street got drunk. How would you as president break the bad habits of Wall Street?

Obama: It starts with Washington on the spending side but also on the revenue side. Senator McCain is proposing tax cuts that benefit the wealthy.

McCain: Points out that Obama wants to raise taxes during tough economic times. The last president to do that was Herbert Hoover. His tax increases will increase taxes on 50% of small business revenue, adversely affecting hiring. Let’s not raise anybody’s taxes. I am not in favor of tax breaks for the wealthy.

zzzzzzzzzzzzzzzz