Debate Starts: Economy First
Yesterday, I used the "train wreck" metaphor about the economy in one of our blog posts.
In the opening debate of the final push of this presidential campaign, Senator McCain used that metaphor. It seems that at this critical night, both Senator McCain and Senator Obama are saying that they saw the train wreck coming, and called for preventative measures.
Senator McCain cited his decision to call for the resignation of the Securities and Exchange Commission. Senator Obama said that he'd sounded the warning whistle two years ago, and contacted the Secretary of the Treasury two years ago.
This was supposed to the foreign policy debate, but predictably, moderator Jim Lehrer started out with the economy. On our show today, on the Reporter's Roundtable, we asked the Chicago Tribune's Clarence Page and Marcus Mabry of the New York Times whether the American public at large had an appetite for talking foreign policy at a time when the nation was hit so hard economically. (Answer: almost certainly not.)
But Marcus is an experienced foreign correspondent (South Africa and France), as well as a business expert, and as he's said on our air many times, the U.S. economy is hardly uncoupled from that of the world. For example, China holds at least half a trillion dollars in U.S. debt. China hasn't come up in the debate yet ... nor in a serious means, America's debt ... but how the government handles that debt (and how the holders of that debt handle their stake) will surely shape America as well as any kind of bailout.
An interesting rhetorical note: Lehrer keeps asking these gentlemen to speak to each other. Instead, they address the audience with a third-person about their opponent (i.e., "Senator Obama"; "Senator McCain") instead of a second-person "you." I'm not sure why that is ... perhaps they think it speaks more directly to the audience? Or it's less confrontational?
More soon.
9:09 PM ET | 09-26-2008 | permalink
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