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First Read is an analysis of the day's political news, from the NBC News political unit. First Read is updated throughout the day, so check back often.

Chuck Todd, NBC Political Director

Mark Murray, NBC Deputy Political Director

Domenico Montanaro, NBC News Political Reporter



First thoughts: Let's debate (or not)

Posted: Friday, September 26, 2008 9:22 AM by Mark Murray
Filed Under:

From Chuck Todd, Mark Murray, Domenico Montanaro, and Carrie Dann
OXFORD, Miss. -- Is it really debate day? Only John McCain knows, but last night he and his campaign sounded like they were going to find their way here before 9:00 pm ET. So assuming McCain does show up, what should we expect? Will there be a record-breaking audience that watches tonight? We have our doubts; after all, it’s high school football night, especially for states like Florida, Michigan, Ohio, and Pennsylvania. As for the candidates, who's the favorite? The format sets up nicely for Obama (no real time limits and they'll be at podiums). And the subject matter (foreign policy) sets up well for McCain. Neither had stellar debate performances in the primaries, and they split their two sit-down forums, with McCain winning the more significant one: Saddleback. The trick for both candidates isn't performing well. Instead, it's avoiding some of their own bad habits. Obama can't let himself slip into condescending or smart-aleck mode and appear too passive (see: today's New York Times), and McCain can't have those awkward smiles slip in during a serious point (see: "hell, gates of"). Since McCain is behind ever so slightly right now, the burden is on him to start of well tonight. But given the chaotic events of the week, he does have a built-in excuse if he doesn't perform up to par -- he wasn't focused on the debate as much as Obama. Then again, is that a good excuse, especially when it was his decision to direct his focus elsewhere? Here’s one reason why so many folks are convinced McCain will show up: Does he really want to wake up on Monday morning having been a party both to Washington's inability to get a deal done and be perceived as he ducked a debate?

*** Losing the spin war: Speaking of, McCain's losing the spin war on the bailout plan for a couple of reasons. One, he's not just up against a fairly united Democratic Congress and Obama -- but also the White House and Hank Paulson. And Senate Republicans appear to be on board as well; GOP Sen. Lamar Alexander told CNBC’s John Harwood that as many of 40 out of the 49 Republicans in that chamber could support the bailout. It's only McCain and the House Republicans who are now opposing this. Last night, the McCain campaign sent a memo to reporters, saying: "At this moment, the plan that has been put forth by the Administration does not enjoy the confidence of the American people as it will not protect that taxpayers and will sacrifice Main Street in favor of Wall Street. The bottom line is that as of tonight, there are not enough Republican or Democrat votes for the current plan. However, we are still optimistic that a bipartisan solution will be found.” But by injecting himself into the bailout negotiations, McCain has forced himself into this either-or situation: convince House Republicans to back the plan, or come up with a plan of his own. If he can't do either, then why did he come to Washington? And what happens if the market collapses today? Does McCain own a market collapse?

*** Whose bright idea was this? NBC’s John Yang makes this other point: "Besides being a big stakeholder in Washington Mutual, the person I'd least like to be this morning is the Bush aide who told the president it was a good idea to adopt McCain's idea to call the congressional leaders and the two presidential nominees to the White House. (I can still hear him roaring to an aide during the 2000 primary campaign: "Whose brilliant idea was this?!?") By all accounts, what White House officials intended to be a meeting to bring everyone together, get them on the same page, propel them to a final deal -- and, McCain likely hoped, make the Republican nominee look like the hero -- turned into a politically charged session of finger-pointing and bitter recriminations." Also, it was just announced that Bush will make a statement on the financial crisis at 9:35 am ET.

*** Palin’s bad week gets worse: What has happened to the Sarah Palin who stepped onto the national stage with her well-received convention speech three weeks ago? That person is now a shell of her former self. Had it not been for McCain's debate gambit, Palin's near-disastrous two-part interview with Katie Couric would be dominating the political discussion right now. On Wednesday, she was unable to cite an example of McCain being in favor of more oversight outside the one Couric provided (“I'll try to find you some and I'll bring them to you,” she finally replied). And yesterday, she provided an interview clip heard ‘round the world. Was this a Roger Mudd moment? The news has only gotten worse for Palin, with the Washington Post reporting that she accepted $25,000 in gifts as Alaska governor, which brings into question her credentials as a reformer. Is there now a new meaning to the ”Palin Effect”? At this point, it really depends on how she performs at next week’s debate. If there is an upside to the Palin performance this week, she has moved her debate expectations to an all-time low.

*** The debate skinny: The first presidential debate between McCain and Obama -- if it takes place -- is scheduled to begin at 9:00 pm ET here at the University of Mississippi. The topic of the 90-minute debate is foreign policy, although moderator Jim Lehrer of PBS has suggested that he will ask questions about the economy and the Wall Street crisis. There will be two-minute answers, followed by a five-minute discussion for each question.

*** Talk about shaking things up: Oregon State beating USC last night is the equivalent of Obama carrying Mississippi or McCain carrying Massachusetts. It's not impossible, and we can explain it away if it somehow happened. But it sure is improbable.
 
*** On the trail: Biden (along with his wife) attends a firehouse fish fry in Cudahy, WI. Palin hits a debate-watching party in Philadelphia, PA.
 
Countdown to the vice presidential debate: 6 days
Countdown to the second presidential debate 11 days
Countdown to the third presidential debate: 19 days
Countdown to Election Day 2008: 39 days
Countdown to Inauguration Day 2009: 116 days
 
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Comments

Since so many of the "big problems" have already been addressed (Freddie, Fannie, Bear Stearns, Lehman, Merrill, and now WaMu), why are we talking about "Wall Street".  Can't we identify the firms that are foundering by name?  Wouldn't that put a face on the issue?
Let the debate carry on. If McCain doesn't show then it's a national forum for Obama.

NO bailout. This is all scare tactic. IF a crisis occurs THEN give 700 billions directly to consumers in need.
McCain has a real issue here.  Most Dems on board to the general framework of the plan.  Obama on board though there are items that he wanted be agreed they should not be pushed for such as banruptcy and stimulus.  Senate republicans on board and the current administration on board.

Who's not on board?  The house republican leadership and the conservative caucus.  Not only are they not on board, but their plan calls for the Treasury to insure assets that the private sector will buy, stimulated by the reduction in capital gains and the reduction in regulation.

So this bi-partisan deal that John wants is being held hostage by his own partisan party.  John is providing no leadership, no guidance.

What is your plan now John????
Reminds me of a highway pile-up. First responders, fireman working like crazy pulling folks out. I know better than to say 'stand aside, I'm a doctor.' These guys are the pros here. Best approach 'I'm here if you need me.'
Unescapable analogy to me.
McCain is a coward. He is scared to debate Obama.
McCain has been singing  Townhall meetings but now he is nowhere to be found.
McCain smiles and says "I'll let the country decide if I had anything to do with moving this forward"....what? 2 days ago he had a "plan". Yesterday and today, he's in hiding, unwilling to comment on a plan, unwilling to say what he will or will not support. I guess when you "suspend" your campaign that relieves you of the responsiblity of doing anything while you go into hiding.
Please Mr. McCain...we would love to know what you think today, as opposed to yesterday, as opposed to the day before.......
Why does Obama have to be emotional and talk in sound bites to be elected???? I want a president who is intelligent, thoughtful, clear headed and calm, who knows the issues and if he doesn't will research and talk to those who do. What gives with the media and people who think the public wants someone who can dummy down to be president!!
Yes, they should debate, but the forum should be split between foreign policy and economics.

If they want to be president, they need to show that they can handle a difficult situation along with the normal everyday things that need attention too.

After all, a sitting president has to deal with issues when he is running for re-election.

Can Mccain say multitask?

Greg Evans, McCain seems to justify lying and childish behavior because there's no town halls, i.e. HE DIDN'T GET HIS WAY!  I've got a 9 month old grandson with THAT level of maturity!
Wow I don't think the idea of putting off the debate is all that bad(like all here believe) or all that smart(like FOX believe).  I don't know with atleast a trillion going to be spent so the GOV can convert itself to a mild for of Socialism one must be more concerned with that as a subject than that of just one debate.  AT LEAST FOR NOW.
Fellow  Americans these debates will give us  all an
idea of who we are dealing with ---these are critical
times and our children, and grandchildrens futures are
at stake----Let's not take this lightly---yes Country First---and being able  to realize we have a capable
Leader to guide us through tough times would make us all feel much more at ease with our choice.
God  Bless America
Only Obama has shown wise calm bipartisan leadership
-----------------------------------------------------
Yes, being holed up in Florida at debate boot camp is showing great leadership.  He is remaining true to form, though:  the splendor of Obama is Obama's number one goal.
The Dem party has no blame in any bad situation.  All I have to say to that is "a silent majority" know that alot of that congressmen not just parties have planty to be blamed about. I hate you both lol.
McCain, CUT the CRAP! People are on to you-the usual Republican smoke and mirrors will not work this time. Your pick of Palin was a dangerous insult to all Americans. Go to Miss, debate Obama like the man you say you are-we will see clearly who should be President of the United States.
To Tei Franks, who says:
"Getting his hands dirty on an issue like the bailout is not Barack's cup-of-tea."

You are not paying attention.  Obama was working yesterday during the White House meeting to get the sides to come to an agreement.  John McCain sat there and said NOTHING.  This is being reported by many different media outlets.  Either keep up with what is really going on, or take your garbage partisan spin somewhere else.

People's futures are at stake.  The time for games is done.
Suburban Mom paying attention, IL (Sent Friday, September 26, 2008 10:02 AM

That time of the month subby?
http://www.democracyarsenal.org/2008/09/palin-iran-and.html

Gov Palin called Kissinger "Beyond Naive" along with Powell and Baker

Come on America WAKE UP....with McCain being OLD and ILL, this is NOT FUNNY

We cannot afford McCain/Palin in the white house, she would be a disaster!!!

We really need to see that debate between Palin and Biden

Stop being a republican, dem - you have to vote for the best person and it has become clear this week on many fronts it is Obama
Obama is not "too cool", he is just right.  When I am freaking out, I want a calm reassuring hand to steady me and to lead me out of the chaos.  I do not want a freaked out President!   McCain has left me exhausted this week because he is all over the place.  I am beginning to wonder if he even knows what he is doing!  
Any politician who takes credit for solving the bail out problem is just that, a politician.  The American tax payor should get the credit.  
I will be attending a football game tonight, but I've already got my tv set to record Countdown before, the Debate and the Analysis after.  I will watch when I get home.  So just because people will be busy tonight doesn't mean they won't watch later.
If the debate were being held in a swing state like Va, there would be no question whether or not Mccain would be debating. And is it me or does nothing Mccain do seem to put country first?
If it's such a big deal, have Biden and Palin debate tonight and switch Obama and McCain to the VP date next week.  WE ALL KNOW PALIN WON'T NEED TO BE IN WASHINGTON FOR THIS CRISIS
McCain is just scared to have a debate tonight, because he is falling behind in the pols
Greg Evans
I can only assume you haven't heard Sen. Obama's strong stance on this bailout because of a failure to either isten, read, or both.  At least three points are these-
1.  A drastic cut in executive pay to stanch loss of capital needed to bolster zero mortgage worths.
2.  Some help from the bottomup-the people who are in real bankruptcy, not just paper/balance bankrupcy
3.  Stricter oversight to be REIMPLMENTED--there has been little to none of this since the Republican Party, going all the way back to Greenspan, has taken power.
I'll not comment on the way the wind is blowing you, but a little research goes a long way:  that is if you can mulitask (unlike a certain AZ Senator I know of).
I just got back from casting my vote this morning.  Kudos to the Gwinnett County facility - they are all set up for a smooth early voting season in GA.  Obama/Biden08
Carol, when Obama shows up alone his first sentence should be "I'm here to answer questions because I don't want to see Mississippi eat $5 million dollars because of Sen. McCain's choice."

White House guaranteed.
Ron in Indiana, well said, right on!!!
McCain the gambler is on a losing streak, hope it continues.
I think he will show up tonight but he doesn't want to debate, which doesn't bode well for him.
I can't imagine a scenario that favors McCain as he has made serious gaffes on the economy, and his position on no or little regulation could prove fatal in tonights debates, even though the topic is suppose to be foreign policy.
McCain's view of the Iraq war is "the surge", this is flawed, the war was a mistake from day one, we should have focused on Afganistan and the people who struck us over 7 years ago are alive and well thanks to this major blunder!!!
McCain is still fighting Viet Nam, he gives it away when he says we will fight, fight,fight,and never surrender when he's president, he sees that we left that unpopular war as a lack of resolve. My friends we can no longer keep spending 10-12 billion a month in Iraq when we are going broke in the homeland.
I hope the debates go forward, and Obama cleans his clock. The "gambler" is just wrong for our country,God help us if he, and Palin get elected!
If Obama had agreed to what McCain wanted they would have already had 6-8 town hall meetings.  Why is he so anxious now?  I haven't heard him take a strong stance as to the specifics of this plan.  If he is relying on Dodd, frank, and Pelosi that alone makes me question his judgement.  I guess the wind is blowing him west, far far away from taking a stand that he and the Democrats will have to answer to.  They want the Republicans to share the blame.
Greg Evans, GA (Sent Friday, September 26, 2008 10:06 AM)
-----------------------------------------------------

So let's say two sports teams are playing football...and the one team says "lets play 6-8 games, by my team rules, on my field, in front of my fans" you'd go along with that?  Heck no.

It would of been idiotic to agree to that...and from my recollection, Obama counteroffered with 2-4 town halls with split locations and never heard back from McCain.  So it's McCains way or the Highway???  Sounds like the ol Bush way.

I'll take the Highway thank you (thankfully that road leads to the White House)
McCain on Economics??? Palin on anything??? If they speak to the media, anyone but Fox that is, they come across as complete idiots. The Maverick and his empty headed trophy VP, is this really the best the Republicans can offer. Are they really going All In with these two??? What a joke!!!
"If Obama had agreed to what McCain wanted they would have already had 6-8 town hall meetings.  Why is he so anxious now?"

You should be on your knees thanking god obama hasnt debated mccain. You cant seriously think he would stand a chance in a frank political discussion with obama because its simply in a town hall setting, do you? What, does Mccain stop being old, senile and cantankerous just because he's in a smaller venue? that's what this country needs. a president who can lead the world one small high school gymnasium at a time.
"Palin hits a debate-watching party in Philadelphia, PA."

That's all the evidence we need, right?  She isn't going to watch Obama have an hour and a half of uninterrupted TV time to himself.  McCain should "suspend" this farce and get to the debate.  
How funny it is that McSame supporters equate the showboating of a town hall meeting to a real debate.  They prefer the town hall meetings because they can sing along to with the talking points memo.  It's sort of like debate karaoke... Heck, even Palin can be coached for that setting.
FROM A SOLDIER!

What is going on!WAMU???? This is our bank, we are serving, what is happen to our pays that are directed depoisted, we can't change at the drop of a dime, it takes sometime mouths. Is anyone out there thinking about us. OMG, LOSING OUR HOMES WHILE SERVING, LOSING OUR MINDS WHILE WE ARE SERVING, LOSING SAVING WHILE SERVING, LOSING OUR JOBS WHILE SERVING, LOSING OUR BENEFITS WHILE SERVING...HOW IS THIS POSSIBLE.
SOLDIER (Sent Friday, September 26, 2008 9:37 AM)

Soldier...welcome to the America of Bush-Mccain-Palin...get use to it
It's time for the McCain campaign to shake up the old 8-ball again...
Will Jon win this election?
~outlook grim
Scheduling the debate for a Friday night is really not a good idea.  I am from Michigan and Ohio originally, most of my friends and family are there.  They are all middle class, white rural and mostly independent but lean republican.  While not everyone goes to high school football games (as someone here noted), many or most in that demographic do in those hotly contested regions.  As we all know, that is a key demeographic.  While everyone in Chicago I know has a DVR to "record" the debate and watch it later, very, very few of my friends or family do and will not be taping or watching the debate because of its timing.  Considering that most people in that demographic that I know are not fired up over politics (passing interest at best), unlike those of us on these websites, giving them a reason not to watch one of the best sources of information on who they should vote for is just poor planning.



Greg Evans

The Presidential Debate Commission sets up debates.  These were set up long ago.  An individual campaign does not set up partisan debates.  Come on.  If the only talking point you can come up with is this, you've got real problems.

Oh, and read the papers, blogs, watch cnn, ABC, NBC, etc.  Obama has had plenty to say - it's your guy that can't decide what is going on.  His words, not mine.


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