Tonight's debate is the first side-by-side match up between John McCain and Barack Obama and while the topic is foreign policy and national security, with the economy in turmoil, talk will most certainly turn to Wall Street.
During the past week, the stylistic differences between the two candidates have come into sharper relief, with McCain suspending his campaign and calling for the debates to be postponed pending a $700 billion bailout agreement for the nation's banks and Obama saying that he would debate and that a president would have to handle more than one crisis at a time.
Tonight the candidates, with 25 years between them, will likely offer a further study in contrasts -- hot versus cool, fire versus ice.
The Obama campaign spent much of the day lowering expectations for the Illinois senator, who has often struggled in debates, partly because of his aversion to sound bites and zingers. In their previous back-to-back appearances, first at a faith forum last month and then at a service forum earlier this month, McCain seemed to fare better, offering up succinct answers to Obama's more professorial resp
"If he slips up, makes a mistake, or fails to deliver a game-changing performance, it will be a serious blow to his campaign," Obama spokesman Bill Burton said in a debate memo sent out to reporters. "Given his unsteady performance this week, he desperately needs to win this debate in a big way in order to change the topic and get back to his home turf."
National polls show that Obama has moved slightly ahead of McCain. But polls have consistently shown McCain with a clear advantage on national security issues, and on the stump he has hammered Obama for not backing the troop surge in Iraq. Expect McCain to call for Obama to admit that he was wrong about the surge tonight. And expect Obama, as he has done on the trail, to link the $10 billion a month Iraq war, to the weakening economy. According to polls, voters have shown a preference for Obama in handling economic issues.
In a statement sent out to reporters, Republicans criticized the Obama team for trying to "pre-spin" the debate as the economy teeters.
"It says a lot about the candidates' priorities that while John McCain was focused on rescuing the economy, Barack Obama's campaign was drafting a debate memo. Strong leadership does not transparently attempt to lower expectations by circulating clips criticizing yourself," said Alex Conant, a Republican National Committee spokesman.
"We are confident people are smart enough to see through Obama's silly spin and recognize it as just another blatant example of the old political tricks."
If the record-breaking viewership of the conventions is any guide, tonight's debate will likely be a ratings blockbuster, and could be a deciding factor for many voters. According to a recent Gallup Poll, debates haven't historically mattered except in two elections -- 1960 and 2000, two close elections.
With 39 days left, the race is virtually tied according to most polls, with Obama having a slight lead in the Electoral College round up.
Tonight's debate in Oxford, Mississippi is scheduled to begin at 9 p.m. and run for 90 minutes. Candidates will have two minutes each to answer the same question, then five minutes for a back-and-forth exchange.
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