Liveblogging the Palin/Biden Vice Presidential Debate

* 6:00 PM PST – Watching ABC

*6:01 PM – Stephenopolis: “6 out of 10 Americans wonder if Gov. Palin has what it takes to be the VP. ” How many Americans wonder the same about Joe Biden? This is clearly a Palin-centric debate.

*6:04 – Biden stated that this bailout is evidence of the horrible economic policies of the last eight years. If true, that makes Barack Obama the second greatest political recipient of these worst economic policies of the last eight years.

*6:08 – Great back and forth about McCain’s comment on the “fundamentals of the American economy.”  Get the job done. 

*6:10 – I would be interested in your thoughts about Palin’s “Joe six-pack” reference?  Palin:  “It is not the American people’s fault that the economy is the way that it is.”  Biden: “John McCain thought the answer was, tried and true response, deregulate.”  I disagree with the governor.  While some people were clearly duped by preditorial lenders, anyone who could surf the internet and was capable of doing basic research on the housing bubble could have seen this disaster coming.  We have clearly been in a housing bubble for several years.  Some of the responsibility for this mess rests on the excited, consumptive habits of the American people.  Contra Joe Biden, government regulation regarding sub-prime loans is what put us in this mess in the first place.  Congress has had regulatory oversight over Fanny Mae and Freddie Mac and congressional members on both sides of the isle have been caught with their hands in the proverbial cookie jar.  People are people be they on Wall Street or in the halls of Congress.  People need to be honest and the American people need to hold preditorial lenders AND congressmen responsible for their each of these parties’ irresponsible actions.

*6:17 –  Palin: $250,000 = a tax on small business.  Great point.

*6:19 – Palin makes a great distinction between McCain’s budget neutral healthcare plan and Obama’s government mandate and budget heavy plan.  Biden’s response that McCain’s budget neutral healthcare plan would cost us in taxes does not make sense.  If it is budget neutral, why does McCain have to raise money for it?

*6:21 – Exxon Mobile is only a wedge for people who do not drive cars or do not appreciate driving cars.  Palin seems to have a legitimate critique (based on experience) of the oil companies.  Biden seems to be chasing an oil phantom.  As a side note, Exxon Mobile pays $4,114 per second in taxes.  They posted a net income of $11 billion in 07 which is just a third of the $33 billion which they paid in taxes.

*6:27 – John McCain worked a bi-partisan effort on the recent bankruptcy bill.  Biden:  “Barack Obama saw the glass as half empty.”  The evening’s headline.

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