Economy Takes Center Stage At Presidential Debate

Nashville, TN (AHN) - Presidential hopefuls Sens. John McCain (R-AZ) and Barack Obama (D-IL) focused on the American economy Tuesday night, tackling issues like cutting the federal budget, regulating Wall Street and where tax cuts would be the most effective. The debate also touched on the war on terror, foreign genocide and when American troops should be sent into sovereign nations to hunt terrorists when the local government opposes the intervention.

"I think everybody knows now we are in the worst financial crisis since the Great Depression," Obama said in his introduction. "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 Sen. 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."

"Americans are angry, they're upset, and they're a little fearful. It's our job to fix the problem," McCain said when he took the stage. "Now, I have a plan to fix this problem and it has got to do with energy independence. We've got to stop sending $700 billion a year to countries that don't want us very -- like us very much. We have to keep Americans' taxes low. All Americans' taxes low. Let's not raise taxes on anybody today."

NBC's Tom Browkaw, who moderated the town hall-style debate at Belmont University, asked directly who each candidate would appoint to serve as Secretary of the Treasury, "the most powerful officer in the cabinet now."

McCain said he would consider former eBay President and CEO Meg Whitman. "She knows what it's like to be out there in the marketplace. She knows how to create jobs. Meg Whitman was CEO of a company that started with 12 people and is now 1.3 million people in America make their living off eBay," McCain said.

Obama said he might ask billionaire investor Warren Buffet, but added that "there are other folks out there. The key is making sure that the next treasury secretary understands that it's not enough just to help those at the top. Prosperity is not just going to trickle down. We've got to help the middle class."