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OBAMA EVENT RAIN OR SHINE: Barack Obama’s apperaance at the Indiana State Fairgrounds is open to the public, and tickets are not required. The doors open at 10 a.m., and the event begins at 12:15 p.m. For security reasons, bags will not be allowed. Also, no signs or banners are permitted (Indianapolis Star). 
It will be the Illinois senator’s 46th campaign stop in Indiana, and his sixth since his hard-fought May primary election against Sen. Hillary Rodham Clinton. Introducing Obama at today’s event will be Sen. Evan Bayh of Indiana, who was among the short list of finalists to be Obama’s running mate before Obama selected Sen. Joe Biden of Delaware. Also speaking to voters before Obama’s arrival will be Rep. Andre Carson, the Indianapolis Democrat who is running in his first general election since winning the seat in a special election this spring to fill the seat left open by the death of his grandmother, Julia Carson; and Jill Long Thompson, the Democratic nominee for governor.
McCAIN CAN’T ESCAPE ECONOMIC MELTDOWN: John McCain came here Tuesday hoping the second presidential debate would help him jar loose a campaign that for the past three weeks has been about the economy, the economy and the economy (The Politico). He didn’t get his wish. Energized in his demeanor, McCain took his case to Barack Obama at Belmont University with waspish intensity, and he came with at least one big new idea on how the country can weather this financial storm. But the transcendent threat of the nation’s economic crisis utterly dominated the evening — another night when millions of Americans did not hear a crisp counterargument from McCain about why the Democrats can’t blame the meltdown on eight years of Republican White House rule. By night’s end, while McCain knocked Obama back on his heels at times, Democrats felt their nominee had made no misstep and that a playing field utterly focused on economic issues still strongly favors the Illinois senator. McCain needed to move the conversation beyond the economy, but a 500-point drop Tuesday of the Dow Jones Industrial Average made it virtually impossible. Much of the debate was a substantive discussion of the $700 billion bailout legislation, the prospect of the economy worsening before it gets better, and the housing crisis. McCain did come with new ammunition on how to challenge his opponent’s seeming superiority with voters on economic issues. “One of the real catalysts, really the match that lit the fire, was Fannie Mae and Freddie Mac,” McCain said, referring to the government-sanctioned mortgage lenders. “They’re the ones that, with the encouragement of Sen. Obama and his cronies and friends in Washington, that went out and made all these risky loans, gave them to people that could never afford to pay back.” The comment prompted Obama to drop his head and smile. It was one of the first in a series of elbows thrown by both nominees. “Now, I’ve got to correct a little bit of Sen. McCain’s history, not surprisingly,” Obama said. “I never promoted Fannie Mae. In fact, Sen. McCain’s campaign chairman’s firm was a lobbyist on behalf of Fannie Mae.”
CANDIDATES CLASH OVER ECONOMY, PAKISTAN: Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for a sweeping $300 billion program to shield homeowners from mortgage foreclosure (Associated Press). “It’s my proposal. It’s not Sen. Obama’s proposal, it’s not President Bush’s proposal,” McCain said in the debate that he hoped could revive his fortunes in a presidential race trending toward his rival. In one pointed confrontation on foreign policy, Obama bluntly challenged McCain’s steadiness. “This is a guy who sang bomb, bomb, bomb Iran, who called for the annihilation of North Korea — that I don’t think is an example of speaking softly.” That came after McCain accused him of foolishly threatening to invade Pakistan and said, “I’m not going to telegraph my punches, which is what Sen. Obama did.” The debate was the second of three between the two major party rivals, and the only one to feature a format in which voters seated a few feet away posed questions to the candidates. They were polite, but the strain of the campaign showed. At one point, McCain referred to Obama as “that one,” rather than speaking his name. “It’s good to be with you at a town hall meeting,” McCain also jabbed at his rival, who has spurned the Republican’s calls for numerous such joint appearances across the fall campaign. They debated on a stage at Belmont University four weeks before Election Day in a race that has lately favored Obama, both in national polls and in surveys in pivotal battleground states. Not surprisingly, many of the questions dealt with an economy in trouble. Obama said the current crisis was the “final verdict on the failed economic policies of the last eight years” that President Bush pursued and were “supported by Sen. McCain.”
FACT CHECKING: Here are some comments from Tuesday’s presidential debate between Sen. John McCain and Sen. Barack Obama, and facts explaining the candidates’ comments: McCain: Said one way out of the financial crisis is to “stop sending $700 billion a year to countries that don’t like us.” The facts: Although he didn’t spell it out, he was referring — as he has in the past — to purchases of oil from countries hostile to the U.S. The figure is inflated and misleading. The U.S. is not spending nearly that much on oil imports, and roughly one-third of what it does spend goes to friendly countries such as Canada, Mexico and Britain. Obama: “I believe this is a final verdict on the failed economic policies of the last eight years, strongly promoted by President Bush and supported by Senator McCain, that essentially said that we should strip away regulations, consumer protections, let the market run wild, and prosperity would rain down on all of us. It hasn’t worked out that way. And so now we’ve got to take some decisive action.” The facts: McCain has indeed favored less regulation over the years but supported tighter rules and accountability on Fannie Mae and Freddie Mac two years before the start of a financial crisis prompted in part by those giant mortgage underwriters. Obama was not a leader in that unsuccessful effort. Some of the current problems can be traced to legislation passed in 1999 that lifted many regulations over the financial industry. That deregulation was championed by then-Sen. Phil Gramm, R-Texas, a McCain supporter, but also by President Bill Clinton, who signed the legislation, and by former Clinton Treasury Secretary Robert Rubin, now a top Obama economic adviser. McCain: Said he would provide a $5,000 refundable tax credit for families to buy health insurance “rather than mandates or fines for small businesses as Senator Obama’s plan calls for.” The facts: Obama’s health-care plan does not impose mandates or fines on small business. He would provide small businesses with a refundable tax credit of up to 50 percent on health premiums paid on behalf of their employees. Also, large employers that do not offer meaningful coverage or contribute to the cost of coverage would be required to pay a percentage of payroll toward the costs of a public insurance plan. But small businesses would be exempt from that requirement. Obama: Said McCain’s proposal to give people a tax credit in exchange for treating employers’ health insurance contributions as taxable wages amounts to “what one hand giveth, the other hand taketh away.” The facts: Obama’s suggestion that McCain’s health-care plan is a wash for families is misleading. McCain offers families a $5,000 tax credit to help them buy health insurance. The corresponding increase in taxable wages would result in a much smaller cost than the value of the tax credit, at least at first. Over time, the value of the tax credit may diminish as premiums rise. However, the Tax Policy Center estimates that McCain’s plan would increase the federal deficit by $1.3 trillion over 10 years, mainly because it would lead to less tax revenue coming in, meaning it is a true tax break overall. (Associated Press)
CNN FLASH POLL: Who did the best job in the debate? McCain (R) 30 Obama (D) 54; Who expressed his views more clearly in the debate? Obama 60 McCain 30 Who spent more time attacking his opponent? Obama 17 McCain 63
Indiana Governor
WISH POLL HAS DANIELS LEADING 49-45%: The WISH-TV Indiana Poll shows Democrat Jill Long Thompson within reach of Republican incumbent Mitch Daniels in the race for governor. The poll shows that outside factors, including the economy and taxes, will play a significant role in the outcome. Mitch Daniels would like the race for governor to swing on his performance in office. As he campaigned in downtown Frankfort Tuesday he shared the belief that his lead is safe. “The feeling could not be better. So many people, so much encouragement,” said Daniels. Despite the governor’s confidence, the WISH-TV Indiana Poll shows a tight race with Daniels at 49 percent and Jill Long Thompson at 45 percent. The four-point lead is just outside the poll’s margin of error. The horserace number for Daniels is actually better than his approval rating, which the poll pegs at 48 percent. Long Thompson addressed the Indianapolis Rotary Club to talk about the economy, the top issue in the race. She’s aware of her underdog status. “Any candidate needs things to break his or her way in the final days of a campaign. But, it certainly appears to be going in that direction,” said Long Thompson. Though it’s close, more voters have a favorable view of Daniels at 49 percent. Forty-eight percent view Long Thompson favorably. But Daniels wants voters to consider other polls including his campaign’s internal numbers that show him with a bigger advantage. “I guess when it’s over somebody’s gonna deserve their money back, I just don’t know who,” said Daniels. “I’ve said from the beginning I’m going to win this and I think this is very encouraging,” said Long Thompson. Libertarian Andy Horning received two percent of the vote in the Indiana Poll. Another 1 percent of responders voted for neither Horning, Long Thompson nor Daniels.
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