In a more subdued than expected second "town hall" style debate, both candidates traded blows and tried to pin blame on each other from everything from the economy, to foreign policy and health care, without landing any telling punches.
Senator McCain surprised by announcing a $300 billion buyout of struggling mortgages saying he will "...renegotiate at the new value of those homes, at the diminished value of those homes" while Sen. Obama reiterated his tax plan to give 95 percent of working Americans a tax cut.
With the economy justifiably dominating the questions asked by the audience and through moderator Tom Brokaw, both sides would appear to be reasonably happy with the stalemate. The Republican campaign team because McCain improved on his last performance in this his favourite debate setting and the Obama team because a draw would suit their candidate who has taken the lead in opinion polls in the wake of the financial crisis.
However there was no mention of "guilt by association" of either candidate with shady characters as had been suggested in campaign material earlier in the week, nor were there any major personality clashes despite the fact there is obviously no love lost between the two men.
Long-time political consultant and now CNN political pundit David Gergen marked the debate marginally in favour of Obama.
John McCain was more effective on domestic issues than he was on the second debate but flatter on national security. Periodically, he made an excellent argument and he was more composed than earlier...Gergen said Obama looked the part of a president despite his inexperience, saying he believed the candidate had "strengthened his position" with voters.
Barack Obama showed once again that he is more articulate and a better debater, able to weave together arguments and themes with great skill. Once again he was also steady. But he was hardly on fire and he didn't give us much more insight -- or new ideas -- about the economic crisis now gripping the country.
So, my scores tonight are lower than last week:
McCain B
Obama B plus
Despite the sometimes low-key nature of the debate, Democratic advisers were quick to spin out one controversial reference by McCain to Obama as "that one". Though fairly innocuous as insults go, the Obama camp took little time in painting McCain as arrogant for the reference (see below to judge for yourselves). The Washington Wire of the Wall Street Journal has the details.
Politically, this debate strikes me as good news for Obama and bad news for McCain. With two straight victories under his belt, Obama has established in the minds of many voters that he is as qualified to be President as McCain -and given the economy, that means he should have strengthened his position. [source]
Marc Ambinger of the Atlantic said the expression was an innocent turn of phrase that came across a little awkwardly in the debate format. CNN focused on the speed on the pickup from the Democratic camp to inform reporters.
The third and last debate before November's election will be on Wednesday October 15 at Hofstra University's Hofstra Arena in New York. The debate will be moderated by CBS News Chief Washington correspondent Bob Schieffer.
Image top: Belmont University Presidential Debate logo.

McCain clearly won and you may see the media saying that Obama won but that is why you should really read all of this posting I'm about to give...
The Largest re-inlisment ever... I'm sure you already know about this. It was shown over and over on TV, right?
OK, so maybe it wasn't shown over and over, but surely it was shown on TV at least one time, wasn't it ? I never saw it!
The ceremony was held on the 4th of July, 2008 at Al Faw Palace, Baghdad, Iraq . General David Petraeus officiated. This amazing story was ignored by the 'mainstream' media.
For those who have been in the Al Faw Palace, you'll have a better appreciation of the number of people crammed around the rotunda supporting the re-enlisting soldiers.
American men and women volunteering to stay longer in Iraq, so that when we leave, the new democracy will have a chance of surviving, is the exact opposite of what the media wants you to think about Iraq. If only a bomb had killed 5 civilians in a marketplace - now that's the kind of news the media is eager to tell you about.
A pizzeria in Chicago donated 2000 pizzas that were made and shipped to Baghdad , and were delivered on the 4th.
The media did report that 2000 pizzas were sent to Iraq on July 4th... The only part they left out of the report was the event for which the pizzas were sent.
I can't help but wonder...
What would the opinion of Americans be if they weren't getting such obviously biased 'news?'
"What would the opinion of Americans be if they weren't getting such obviously biased 'news?'"
We aren't going to be getting it from Rich Bowden.. Who thinks he knows all about America from what is almost precisely the other side of the world.
Maybe I should start a column on Australian politics and base it on the nonsensical effluence that I see in the media: Mad Max running against Crocodile Dundee and shrimp on the barbie with Fosters beer... Having actually been to Australia I know that I would be making a fool out of myself.. That is exactly what you are doing Rich Bowden, basing your commentary on sources that you have chosen because they are congruent with your prejudices. All too common unfortunately.
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amm looking for mcain palinto offer a bgger tax cut and more money and unemployment benefit when l lose my job and a scial welfare system that provides for people instead of sleeping in the steets-usa is no better than india.