8:03pm: First question to Sen. Obama: from Alan Schaffer — What is the fastest and most positive solution to bailout Americans.

8:05pm: Obama outlines his economic plan: 1) bailout passed last week, 2) middle class rescue package (tax cuts, job creation, healthcare)

8:06pm: John McCain makes a quick joke about finally meeting Obama at a town hall meeting. Quickly addresses the question with an answer about the environment.

8:07pm: Awkward joke of the night goes to McCain: making Tom Brokaw Treasury Secretary.

8:13pm: It’s really funny to watch the candidates, John McCain right now, wander around the stage as the other looks on silently. As McCain hit Obama hard on his stance on Fannie Mae and Freddie Mac, Obama sat behind him smiling, waiting for his turn to respond.

8:15pm: Returning to the theme from the last debate, as Obama answers questions, Senator McCain is looking elsewhere. He’s taking notes, he’s looking into the audience… everything but watching his opponent.

8:18pm: New question from Theresa FInch — how can we trust either party when they both are responsible for the current financial situation? Obama is first to reply: “I understand your cynicism.” Compares Clinton years to Bush years. Looks over at McCain, McCain stares at the ground. Discusses his plan for net spending cut.

8:21pm: McCain responds that voters should look at records over rhetoric. He’s cut earmarks, he’s opposed leaders of his party, he’s worked across the aisle.

8:23pm: Brokaw asks which issues would take priority in their first term (between energy, entitlements, healthcare). McCain’s priorities in first term: all three at once, focuses on energy independence.

8:25pm: Obama’s priorities (or at least, the order in which he talks about them): energy, healthcare, education. Then discusses earmark reform and line-by-line program reform, as well as McCain’s tax cuts for big oil.

8:28pm: Brokaw introduces a question from email: what will you ask Americans to sacrifice? McCain’s answer: we’re going to have to cut certain government programs. Addresses earmarks, again. Proposes spending freeze. It’ll be interesting to see how Obama responds to this proposal, which McCain brought up at the last debate.

8:30pm: Obama spends the bulk of his response discussing energy conservation, then moves to volunteerism (specifically for young people).

8:33pm: I’ve yet to see Obama with a pen in his hand all night, but McCain’s been scribbling on his pad all night. It keeps him from having to look up at Obama, but it will be interesting to see what viewers make of this contrast. Does it make McCain look thoughtful, or does it draw attention to his age?

8:35pm: Obama returns to the spending freeze. Calls it a hatchet that puts the burden on the Americans that need help the most. McCain calls listening Obama to nailing Jello to the wall and then goes on to compare Obama to Herbert Hoover. Says Obama supports raising taxes during an economic crisis.

8:37pm: Brokaw asks how the two candidates would address ballooning entitlement costs - will they promise to address it within their first 2 years in office? Obama promises to get it done in first term, but maybe not 2 years. Comes back to McCain’s criticism on his tax policy, charging that McCain’s plan unfairly benefits the country’s biggest corporation.

8:41pm: McCain jokes that he’ll actually answer the question. Was he watching his running mate at the vice-presidential debate? McCain brings up the same statistic that Palin mentioned last week about Obama voting for tax increases 94 times. Will Obama respond the same way Biden did?

8:43pm: Ingrid Jackson asks how will you address environmental issues? McCain says the best solution is nuclear power; it’s already safe, clean, and will create millions of jobs. Obama calls the environment not just a challenge but an opportunity. Energy can be like the computer for economic growth. Favors nuclear power as part of an energy portfolio. Points to McCain’s record of voting against renewable energy.

8:48pm: McCain refers to Obama as “this one.” His attitude is verging on contempt, and it will be interesting to see what undecided voters think of McCain’s demeanor.

8:50pm: New question — do you consider health care as a commodity? Obama annoyingly moves directly into stump-speech mode without directly answering the question asked. He does, however, provide a good summary of his plan for health care. Says even Chamber of Commerce opposes McCain’s plan.

8:53pm: McCain phrases the principle difference between himself and Obama as the role of government. “We need to give people choice, not mandate them.” Give them $5,000 tax credit to choose their own health care plan.

8:56pm: McCain says health care is a responsibility. Obama says it is a right, recollects memory of his mother dying of cancer at a young age. Says he isn’t proposing a mandate for small businesses, just for children, who are cheap and essential to insure. Fundamental difference is role of government in regulation.

8:58pm: In response to a question about how the US economy affects American ability to achieve peace in the world, McCain again returns to his patriotism and the greatness of this country. “We’re a nation of good.” Obama responds that Iraq has put strain on military and economy while Iraqi government runs up a $79 billion surplus. Doesn’t allow US to take action in Darfur. America is a great nation, but can’t support both economy and military at present levels.

9:04pm: Brokaw: What is the Obama/McCain doctrine? Obama: When genocide is happening and we stand idly by it diminishes us. Must work in concert with allies; can’t act alone. McCain: Obama wanted to bring troops back from Iraq in defeat, he’ll bring them home in victory.

9:09pm: Should US pursue al-Qaeda in Pakistan? Obama says we need to end war in Iraq so we can dedicate more troops to Afghanistan. Change policy in Pakistan and expand non-military aid. “If we have Osama bin Laden in our sights… then I think we have to act.” That’s our biggest national security priority. McCain says again that we shouldn’t announce our military strategies in advance. Relations with Pakistan are critical and “we need to get their support.” Speak softly but carry a big stick.

9:13pm: Obama says that singing about bombing Iran and declaring that you want to annihilate North Korea. McCain: “I know how to deal with these crises… I know how to get bin Laden.” Says the candidates have fundamental differences over the use of military power.

9:17pm: It’s really interesting how McCain seems to be tying himself to General Petraeus. By contrast, unless I’m remembering incorrectly, the only time he mentioned President Bush was talking about an instance where Obama voted with Bush and he opposed them both. Another difference, McCain hasn’t used the word “maverick” once.

9:22pm: For his part, Obama is using the phrase, “I agree with Senator McCain” a lot less in this debate than the last one.

9:23pm: Is Russia an evil empire? Obama: Doesn’t offer a yes or a no. McCain: (forgets to pick up his microphone) “Maybe.” Doesn’t want to ignite another Cold War by saying yes. Says we can deal with them through strength.

9:25pm: What would you do if Iran attacks Israel? McCain: We can’t let Iran get nuclear weapons. Says Obama wants to sit down with Iranians but he would join with allies and impose sanctions. Cannot allow another Holocaust to happen. Obama: We cannot allow Iran to get a nuclear weapon, will do whatever it takes to stop it (won’t take military options off the table). Israel is one of our strongest allies in the world. Do what we can now diplomatically so we never have to use military. We should talk to our friends and enemies to send them a strong message.

9:30pm: What don’t you know and how will you learn it? Obama makes a joke about his wife. A president never deals with the challenges they expect; always challenges you don’t expect. Says he wouldn’t be here if this country didn’t give him opportunities. Will we pass on American dream to next generation? Fundamental change is at stake in this election. McCain: I don’t know what we all don’t know: the future. “I have spent my entire life serving this country… I believe in this country… I’m asking the American people to give me another opportunity [to serve].”

9:34pm: Brokaw says good night.

*all times are Central.

We woke up at 5 o’clock in the morning, convinced we’d be the only students with enough initiative to make it to Holmes Lounge — one of the prettiest settings on campus — for a live taping of CBS’ The Early Show. To say that we underestimated the excitement on this campus would be an understatement. By the time we groggily stepped through the doors of the (usually) quiet dining hall, there were hundreds of students packing the room — some literally hanging from the walls. After waving our “sign” for a few segments (much more on the sign later), we’d had enough and decided decided to wait for the broadcast to head outside. We entertained ourselves with props found on the makeshift outdoor set until, much to our excitement, Bob Schieffer emerged from his Early Show interview and headed our way. It seemed obvious to us that a chance for a photo with the host of Face the Nation (and the moderator of the final presidential debate) was well worth seeding the prime real estate we’d captured outside, so we ran towards Mr. Schieffer, who graciously stopped and took a picture with us. Our chances of face time on The Early Show seemingly gone, we walked off campus to Boosters Cafe for a quick (and delicious) breakfast.

Still several hours before I’d usually be awake on a Thursday morning (and a few hours until our next opportunity to appear on TV), we headed to the library attempting to study. It might have been the most exciting day of my college career, but it’s still college, so there was work to be done!

Aside from the debate hall itself (where, incredibly, more than 400 student got to watch the debate), the MSNBC set was the most exciting place to be on campus. While no other news networks had chosen to broadcast from a location that students could actually access, from one stage we had the opportunity to watch Andrea Mitchell, Chuck Todd, and three tapings of Hardball with Chris Matthews. It seemed obvious, then, that this would be our base of operations for the rest of the day.

A true testament to the collective creativity of my group of friends, we carried with us, everywhere we went, a carboard cutout of Abraham Lincoln holding a Barack Obama sign. Not only was Honest Abe featured prominently on every MSNBC broadcast (we somehow managed to hold onto our position in the front row of the crowd, just over the anchor’s shoulder), he wound up (through the Associated Press) on the front pages of the New York Times and CNN websites, he got us interviewed by the St. Louis Post-Dispatch and several other papers, and he turned into a crowd favorite with countless students stopping to take pictures with him.

The highlight of my day, however, was at the end of the 6 o’clock (CT) edition of Hardball, when Chris Matthews asked President Lincoln (and me) what we were expecting from tonight’s debate. I made a joke about Stephen Douglas, and the rest is a haze.

We watched the debate from Edison Theatre, the performing arts center on campus, with a not-surprisingly overwhelmingly liberal crowd. I’ll post my full analysis of the debate tomorrow, but here are a few brief thoughts:

• Joe Biden is clearly the most knowledgeable, qualified candidate on either party’s ticket. I think it will be next to impossible for John McCain to paint Barack Obama as unready solong as Obama has Biden by his side.
• Sarah Palin had a great night considering the expectations that most Americans, myself included, probably held before the debate. She may no longer be a liability for John McCain, but it was hard to look at the two candidates on that stage and not see a huge mismatch in every measurable way. Neither vice-presidential candidate is going to singlehandily shift the election in one direction or the other, but in terms of credibility and judgment, it is becoming more and more clear that Joe Biden is doing more to help his party’s ticket than his debate opponent last night. Palin might still be the more exciting selection, but if McCain wants to continue criticizing Barack Obama for being “just another celebrity,” his running mate is going to need to begin to offer something more than large crowds.
• In the next debate Barack Obama has to address the accusation that he and Biden will “wave the white flag” in Iraq. On the other side, without resorting to dishonesty — of the intellectual variety or otherwise — John McCain must explain to Americans why he is the best candidate to turn this country around, and how, in a significant way, his economic policies differ from the George W. Bush.

Make sure to check out Mark’s excellent photostream from Debate day at Wash U.

Today was the last day that students were able to access the actual debate facility and our brief tour revealed a venue almost unrecognizable from the Athletic Complex we’re used to seeing but still far from the auditorium we expect to see on Thursday night. Aside from the main gym where the debate will take place, the recreational gym has been completely transformed into the offices of several thousand reporters and, after the debate, the world capital of spin. The room is setup with hundreds of tables, phone lines, electrical outlets, and TVs.

Outside the AC are three large stages where reporters will be able to broadcast “from the scene.” Just so viewers don’t forget where the debate is being held, we’ve placed Washington University in St. Louis banners in front of the AC and then strategically around campus.

I was supposed to volunteer for MSNBC today (Chuck Todd, Andrea Mitchell, and Chris Matthews will be broadcasting live from campus all day Thursday), but it was rained out. The weather for the rest of the week looks nice though.

See you tomorrow!

The campus has been abuzz the past week with excitement. Three hundred students have been notified that they’ve (preliminarily) won a ticket to the debate, the Secret Service has combed through each of the nearby fraternity houses, security fences and portable cell phone towers have been installed, new flowers have been planted… Wash U is ready for its close-up!

From the assault of 3,000 members of the media to the arrival of the candidates themselves, we know that we’re in a unique position to provide a behind the scenes perspective on what promises to be one of the most historically significant events of this campaign. Over the next several days this blog will feature stories, pictures, and insights on Thursday’s debate between Joe Biden and Sarah Palin. We want this to be as interactive as possible, so if you have any questions, post a comment or send us an email.

In exactly four days all eyes will descend on this campus; until then, we’ll do our best to keep you up-to-date on what’s happening when no one’s looking.

As the New York Times explains:

Under the federal presidential financing system, a candidate this year would be given $84.1 million from the Treasury to finance a general election campaign. In exchange, the candidate is barred from accepting private donations, or from spending more than the $84.1 million.

McCain will accept those funds (and thus the limits imposed by them) and Obama will not. It makes sense for his campaign because Obama can easily raise more than the $84.1 million public financing would have provided, and it makes sense practically because Obama’s campaign is not accepting the lobbyist, PAC, and 527 money that will pour into McCain’s war chest. Just as importantly, as the Times notes, contribution limits to political parties — where Republicans still hold an advantage — are so convoluted that it puts the entire public financing system into question. That is exactly what Obama himself argued today saying,

The public financing of presidential elections as it exists today is broken, and we face opponents who’ve become masters at gaming this broken system. John McCain’s campaign and the Republican National Committee are fueled by contributions from Washington lobbyists and special interest PACs. And we’ve already seen that he’s not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations.

For his part, McCain is upset that Obama has seemingly reversed course on a questionnaire pledge to participate in public financing (Obama wrote on the survey, ““If I am the Democratic nominee, I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election.”) McCain said today,

Senator Obama’s reversal on public financing is one of a number of reversals that he has taken. I’m especially disturbed by this decision of Senator Obama’s because he signed his name on a piece of paper, signed his name.

This election is about a lot of things but it’s also about trust. It’s also about whether you can take people’s word.

So what is this argument? Is it a serious political debate with a clear right and wrong answer or is it the same order of partisan, media-inflamed bickering that we’ll hear every day from here until the convention?

Any argument over public financing is really an argument that certain kinds of money influence politicians in inappropriate ways. It’s an argument that certain kinds of money corrupt political leaders. The public financing system was created to remove this influence, yet no one in their right — and nonpartisan — mind can argue that the public financing system, as it exists today, successfully does that. Yes, in the two months between the Republican convention and the November election John McCain’s campaign will receive public funds and not contributions from individuals, but because public financing laws have been so neutered by Congress and the courts, McCain’s campaign will receive the support of 527s, PACs, local and state parties as well the Republican National Committee. The only difference between these funds and the funds Obama’s campaign will collect — without the use of more than $84 million in tax payer money — is that there will be no direct paper trail.

This isn’t to say that Obama should not accept public financing; he should. Especially because he said he would. Public financing is a needed reform and it is both unfortunate and uncharacterstic that such a transformative leader either doesn’t understand that fact or has chosen to ignore it. In choosing to oppose public financing — even with its flaws — Obama has chosen to place the importance of money in this presidential campaign — even if it is largely money raised in small donations of under $100 — over the importance of truly transformative ideas.

That’s not to say that McCain is right. As the legislator responsible for many of these campaign finance laws he should, and surely does, recognize the failings of the public financing system. McCain is just as likely to be corrupted by his many moneyed interests as is Obama. The fact that he is accepting public funds does not change that. McCain’s gripe is simply that Obama can raise more than $84 million on his own and McCain cannot.

If the campaigns, if the parties, if the American people are truly interested in public financing, they will fix the system for good. Until then, candidates will either have to come to their own fair and unique agreements over which kinds of funds each campaign will accept, or they will have to shut up about it.