Biden, Palin Vice Presidential Debate Transcript (10-2-08)

Read the complete transcript and see the video of the VP debate.

IFILL: You both would like to be vice president.

Senator Biden, how, as vice president, would you work to shrink this gap of polarization which has sprung up in Washington, which you both have spoken about here tonight?

BIDEN: Well, that's what I've done my whole career, Gwen, on very, very controversial issues, from dealing with violence against women, to putting 100,000 police officers on the street, to trying to get something done about the genocide in -- that was going on in Bosnia.

And I -- I have been able to reach across the aisle. I think it's fair to say that I have almost as many friends on the Republican side of the aisle as I do the Democratic side of the aisle.

But am I able to respond to -- are we able to stay on the -- on the topic?

IFILL: You may, if you like.

BIDEN: Yes, well, you know, until two weeks ago -- it was two Mondays ago John McCain said at 9 o'clock in the morning that the fundamentals of the economy were strong. Two weeks before that, he said George -- we've made great economic progress under George Bush's policies.

Nine o'clock, the economy was strong. Eleven o'clock that same day, two Mondays ago, John McCain said that we have an economic crisis.

That doesn't make John McCain a bad guy, but it does point out he's out of touch. Those folks on the sidelines knew that two months ago.

IFILL: Governor Palin, you may respond.

PALIN: John McCain, in referring to the fundamental of our economy being strong, he was talking to and he was talking about the American workforce. And the American workforce is the greatest in this world, with the ingenuity and the work ethic that is just entrenched in our workforce. That's a positive. That's encouragement. And that's what John McCain meant.

Now, what I've done as a governor and as a mayor is (inaudible) I've had that track record of reform. And I've joined this team that is a team of mavericks with John McCain, also, with his track record of reform, where we're known for putting partisan politics aside to just get the job done.

Now, Barack Obama, of course, he's pretty much only voted along his party lines. In fact, 96 percent of his votes have been solely along party line, not having that proof for the American people to know that his commitment, too, is, you know, put the partisanship, put the special interests aside, and get down to getting business done for the people of America.

We're tired of the old politics as usual. And that's why, with all due respect, I do respect your years in the U.S. Senate, but I think Americans are craving something new and different and that new energy and that new commitment that's going to come with reform.

I think that's why we need to send the maverick from the Senate and put him in the White House, and I'm happy to join him there.

Obama Speech on Senate Floor: Transcript (10-1-08)

This Obama's speech on the Senate floor arguing in favor of the bailout package. Read the complete transcript.

Now, the fact that we’re even here voting on a plan to rescue our economy from the greed and irresponsibility of Wall Street and some in Washington is an outrage.

It’s an outrage to every American who works hard, pays their taxes, is doing their best every day to make a better life for themselves and their families.

And understandably, people are frustrated and they’re angry that Wall Street’s mistakes have put their tax dollars at risk. And they should be. I’m frustrated and angry, too.

But while there’s plenty of blame to go around -- and many in Washington and Wall Street who deserve it -- all of us -- all of us have a responsibility to solve this crisis, because it affects the financial well-being of every single American.

There will be time to punish those who set this fire, but now is not the time to argue about how it got set, or did the neighbor sleep in his bed, or leave the stove on. Right now we want to put out that fire, and now’s the time for us to come together and do that.

When the House of Representatives failed to act on Monday, we saw the single largest decline in the stock market in two decades.

Over $1 trillion of wealth was lost by the time the markets closed. And it wasn’t just the wealth of a few CEOs or Wall Street executives.

The 401(k)s and retirement accounts of millions became smaller. The state pension funds of teachers and government employees lost billions upon billions of dollars. Hard-working Americans who invested their nest egg to watch it grow saw it diminish and in some cases disappear.

And while that decline was devastating, the consequences of the credit crisis that caused it will be even worse if we do not act now.

We’re in a very dangerous situation, where financial institutions across this country are afraid to lend money. And if all that meant was the failure of a few banks in New York, that would be one thing, but that’s not what it means.

What it means is, if we don’t act, it will be harder for Americans to get a mortgage for their home or loans they need to buy a car or send their children to college.