McCain has already blown the first question. He had a freeway-size opening to talk about Obama’s connection to corrupt Fannie and Freddie execs and he didn’t take it. He also, by not contesting Obama’s contention that it was a lack of regulation that caused the problem, essentially agreed with Obama. He also made the bizarre comment that Warren Buffett would make a good Secretary of the Treasury.

So far, that’s two questions from people who were asking, “What’s in it for me?”

Finally, he’s hitting the Obama connections to Fannie and Freddie. Obama has a strange grin on his face while he’s being hit up against the head with a 2×4.

Obama is now telling the guy “what’s in the bailout package for you.” He’s back on de-regulation. Says he wrote a letter to Paulson and Bernanke “but nothing happened.” After pointing fingers, Obama says, “but you’re not interested in hearing politicians point fingers.”

Obama says we’re “going to have to coordinate with other countries” to make sure we handle the economic crisis correctly. Say, what? We have to get the French and Germans to OK our plans?

Obama says living within a budget “is not what happens in Washington.” Thanks to who?

McCain is using McCain-Feingold and working against climate change as pluses on his resume. Good grief.

McCain is not doing well. He’s repeating himself. His only hope is if Obama goes into one of his hemming and hawing jags like he’s done often on the stump.

Obama seems to think the president has a line-item veto.

Obama: “A lot of you remember the tragedy of 9/11.” A lot??!! He wants to double the Peace Corps. That will ensure two generations of left-wingers.

Obama is going through his “from each according to his abilities and to each according to his needs” speech.

Best line of the night so far for McCain, pointing out that Obama had said he’s forgo his tax plans if the economic news was bad: “I got some news for you, Sen. Obama. The news is bad.”

Obama’s talking about his plan to tax the people who create the jobs. He’s just a shameless demagogue in this portion. The question was about Social Security, and Obama didn’t answer it.

McCain’s response: I’m a maverick. I can work across the aisle. That needed to be stronger.

Oh, God. Climate change. McCain’s going to disappoint me here. Yep, he did. Making good points about nuclear energy, however. At least he’s tying it to jobs.

Obama’s talking about “investments.” I think that means more taxes. Big, bad America, says Obama, uses 25 percent of the world’s oil and we’re only 3 percent of the population. He’s implying that there have to be limits on our consumption, government-enforced, I’m sure.

The way Obama’s moving around I keep expecting him to start dancing like he did on “Ellen.”

Health care: Says government will work with employers to lower health care costs. How will that be done? No details. Just, in keeping with his entire campaign, glittering generalities. What’s so great about an employer-based health-insurance system? News flash to Barack: Things have been moving away from that model for 10 years.

McCain making the point that all of Obama’s plans are government-centered. Says he’ll fine you if you don’t do what he wants. This is McCain’s best answer so far. Pushing private solutions, not nanny-state solutions.

Obama says health care is a right. I can just hear the cash register now. HillaryCare move over. Admits he’ll require health care for children. He also uses mass misreporting of a news story to give himself cover, saying McCain voted against extending Medicaid health care to children, but not mentioning that it would have been extended to the middle- and upper-middle class, ergo McCain’s vote.

Obama is trying to make de-regulation a bad word.

McCain: “Did we hear the size of the fine?”

Finally a non-domestic question: National defense. “In his short career, he does not understand our national security challenges,” he says of Obama.

Obama supports our troops so much he wants them to cut and run. Says it’s too costly to be in Iraq. Says this is the greatest nation on earth. First time I’ve ever heard him say that.

Obama says we need to be the world’s policeman even in areas where our national security is not at issue. Wait! Now he’s contradicting himself, saying we can’t be everywhere. Have to use allies, etc.

Zing: “Sen. Obama would have brought them home to defeat. I’ll bring them home in victory and with honor.”

Says you have to temper decisions to intervene with whether we can beneficially affect the outcome. Better answer than Obama’s “world police” answer.

Obama: “It’s so important for us to reverse course.” Advance to the rear, I guess. Again with the “Pokky-stahn” and “Tolly-bahn.” So annoying. I think he loses votes everytime he does it.

McCain: We should speak softly and carry a big stick.

Obama turns that on him by pointing out he sang “Bomb, bomb Iran.”

Obama says we have to spend money to help the economies of Latvia, Estonia and Poland, countries that seem to be doing better than we are right now.

Brokaw: Is Russia an evil empire, yes or no? Obama gives a lenghty answer. McCain says “maybe,” then give a lengthy answer too.

Question from a retired Navy CPO: What would be do if Iran attacks Israel, help them or wait for the UN to pass a resolution?

McCain: We wouldn’t wait because Russia and China would veto at UN.

Obama: He realizes McCain had the best answer, but adds we have to try to prevent an attack. Duh! But that wasn’t the question. Now he’s rambling on and on. McCain clearly has been better in the national security section of this debate.

Where’s the famous bracelet Obama had in the last debate, the one with the name of the serviceman he couldn’t remember?

Last question: What is it you DON’T know?

Obama says we need “fundamental change.” I think that’s a synonym for socialism.

McCain: What I don’t know is what the future holds. Knows what difficult times are like. Upbeat “I believe in America” ending. Need a steady hand at the tiller. Strong closing, but the MSM will surely give this to Obama.

FINAL THOUGHT: This didn’t gain McCain much, if anything. He should have hit hard on Obama’s sketchy associations, and should have banged his Fannie and Freddie connections more.

OK, ONE LAST THOUGHT: After watching the Fox News segment where Frank Luntz interviews a group of clueless “uncommitted” voters, I’m wondering about the wisdom of universal suffrage.

GREAT POINT: Bill Whittle had a great point on The Corner:

McCain: Of course we would come to their aid without waiting for the UN. Obama: We would use “all our tools” and “sanctions” and “cost-benefit analysis.” So let me get this straight: Obama wants to preemptively attack a country without provocation in Pakistan, but refuses to commit to use military force to defend an ally after THEY have been invaded.

Got it.