October 15th, 2008
08:52 AM ET

Morning Buzz: Not Over Till It's Over

Penny Manis
AC360 Senior Producer

Are you ready? The third and final debate takes place tonight at Hofstra University in NY at 9pet. Anderson, Wolf and Campbell will be anchoring from NYC, joined by our panel of analysts, and our political correspondents will report from the actual debate venue.

The economy will undoubtedly take center stage, along w/other domestic issues, but we can expect some form of character attacks to occur-subtle or not. Obama has called McCain ‘erratic’ and ‘lurching’ as of late, and McCain has accused Obama of lying about his association with William Ayers. Will they stay on the issues or go for the jugular?

3 week to go till election day, and our newly released CNN poll of polls show Obama with an 8 point lead over McCain… 50% to 42%. 8% remain undecided and it’s those independent voters both candidates are targeting big time in the final stretch.

Our political unit reminded us of an interesting fact, which you may have noted if you were watching last night. In the year 2000, within the period of Oct 2-4th, our CNN poll showed Gore leading Bush 51% to 40% and we know who won THAT election. This brings me to the title of my buzzzzz this morning, it’s not over till it’s over and anything can happen yet!

I don’t envy whoever does make it to the Casa Blanca, particularly as the next President will come into office with the biggest deficit on record: $454,800,000,000. That’s a lot of zero’s at the end isn’t? and it’s expected to grow even further this year.

The Administration has committed more than $1 trillion to deal with the financial crisis: $700 b for banks and bad assets; $300 b to deal with mortgages; $200 b to back the Fannies; $123 b to bailout AIG; $29 b to help JPMC buy Bear Stearns. Plus, another stimulus package.

Let’s just say Obama or McCain are going to have their hands full, and then some. And so are we for that matter. I’m sure you are all looking forward to tonight’s final face-off, make sure you tune into CNN for this historic event! We’ll be waiting for you and see u then.

Filed under: The Buzz
soundoff (18 Responses)
  1. Gene Penszynski from Vermont

    That fact is that polling has become much more sophisticated over the last eight years and that there is much more consolidated polling information on the internet. One specific CNN poll might have had Gore ahead on Oct. 4th in 2000 but it is now Oct. 15th 2008 and the combined average of dozens of polls clearly give Obama the lead. I would seriously doubt that these averaged numbers are going to be that volatile but that is not to say that the Obama campaign should keep up the pressure to keep those leads as large as possible and even expand them.

    October 15, 2008 at 1:07 pm |
  2. Jay in Ga.

    Don't let the liberal media get you down. Ga. is going red. Kerry had a 7 point lead and lost. Gore had a lead and lost. So don't buy into the liberal media plan to elect a person who is the number one liberal in AMERICA. Let's show them we won't buy into this BS. Do your duty Vote for EXPERIENCE it matters. Obama is not being honest with AMERICA.

    October 15, 2008 at 12:12 pm |
  3. Michelle Fonthil;onatrio

    Good Morning 360 satff!
    I can't wait to see this final debate tonight .How will John McCain talk us through the troubled economy and will he be able to catch up to Obama's 8 point lead? This is the key issue McCain is out of touch and not giving a striaght answer , I look forward to seeing the best political team analyze this and please keep them honest !

    Michelle D.

    October 15, 2008 at 11:59 am |
  4. Carol, CA

    I don't think you can compare previous elections to this one. There is so much interest and everyone is paying attention. Don't forget, in 2000 Gore won the popular vote. How Bush managed to "win" the presidency is another matter.

    Also, back in 2000 we were not involved in two wars. The economy was fine, and our biggest worry was if our Prez was fooling around on the side. Talk about the good ol' days!

    I don't see any point in bringing up stats from previous elections. The US has changed – the world has changed. I am also tired of hearing about the "Bradley effect". That was about 25 years ago!! This year -everything is different.

    October 15, 2008 at 11:55 am |
  5. Laura

    Why isn't anyone questioning the candidates or our elected leaders
    as to how their portfolios have been faring through the economic
    meltdown? The absence of information or comments feels slightly suspicious. If they are somehow immune or even making money from this, don't we deserve to know?

    October 15, 2008 at 11:43 am |
  6. Renee

    Penny: My head is spinning! I already know who I am voting for this year . I often ask myself, how and the heck did we get here between these two? It must have been those caucus states.

    Thank God for major league baseball (Go Rays!) some peanuts and a cocktail and my sky box tickets this weekend, sunny weather in Florida, good music that cheers me up and my children with their abundance of love and hope and all things bright and happy and beautiful.

    I hope you too find a major diversion from the elections, the economy and the news. Protect your mental health from all of these issues and get some rest.

    October 15, 2008 at 11:01 am |
  7. Ken

    Why no comments from CNN as to Jesse Jackson comments about Obama, are they not newsworthy or they just don't fit into the agenda.

    October 15, 2008 at 10:59 am |
  8. Larry

    I guess that the good Reverend's claim that an Obama administration will alienate zionists in america and end our relations with Israel hasn't made it to CNN yet.

    October 15, 2008 at 10:45 am |
  9. Minister of Truth

    The polls cannot seem to get a handle on the newly registered missing in action from polls voters. They are dismissed with tradditional rhetoric such as they may have registred but will they vote.
    This country is not enjoying good times and there is no segment immune from the misery and i truly belive the new voices of America will stand up and be heard and also particpate in this historiuc election.

    October 15, 2008 at 10:29 am |
  10. Frank Magliocco

    If anyone thinks race is not an issue in this election they are crazy. Has anyone seen or heard what Howard Stern did? He took John McCain's platform attributed it to Barack Obama and asked African Amerians what they thought. Everyone of them agreed with it. Think they are not voting based on race?

    October 15, 2008 at 10:21 am |
  11. Andrew Mayer

    Consider China is now positioned to pay back its dues to the US and international world for securing its oil for the past seven years since it joined the WTO.

    Of course, western hard work led to the technology and consequent lives saved in securing that oil for the past 50 years.

    China has had its share of sitting around and slurping its noodles from hammocks for hundreds if not thousands of years waiting for the west to catch up. We also in turn owe China thanks for funding what amounts to a glorified Habitat for Humanity/subprime building project. Next, the US should renovate its electricity infrastructure and help China and NE Asia do the same.

    Discussing the real issues that Americans, in the age of information, are ready, willing and able to comprehend is the real issue and CNN is poised to make that happen

    Best Regards,
    Seoul, Korea

    October 15, 2008 at 10:20 am |
  12. Martina Ilstad Germany

    Hey Penny
    Someone say the third will be the best.who knows???? mayby??? i am ready for tonight watching the final debate.i realy try to trust CNN,because,you show us the best analysts and correspondents,but in the last days i losted my trust of fairnes ,because you cut my comment about schadenfreude from tim lister.so stay to be fair.

    October 15, 2008 at 10:18 am |
  13. Annie Kate

    I can't even imagine owing that much money – just think what the interest on that debt will be each year. The next President will need to come up with a plan to retire that debt quickly so the interest doesn't swallow us whole.

    I hope the debate stays civil tonight and no one attacks anyone character – surely they have done enough of that already. I tune in to the debate to hear what they are going to do not watch them call each other names like kids in the school yard. Someone wanting to be President really should act their age.

    Annie Kate
    Birmingham AL

    October 15, 2008 at 10:14 am |
  14. Sharon

    I wish I wasn't so addle-brained. How in the world do we keep spending money in the amounts of $454,800,000,000? Where are we getting it? If I was borrowing money over what I had in my bank account or assets the bank would assuredly not loan me any more. When will it stop? Where in the world do the candidates think they are going to get MORE money for education, health care, and the myriad of promises they have made (are making)? I wish I could find extra money for my needs: car and home fuel, food, medical bills, clothes to just cover my body, blanket for warmth, etcetera?

    October 15, 2008 at 10:06 am |
  15. Laura Mullaney from Miami, Fl

    Neither candidate has made any proposals that would realistically address the root problem of our country's financial crisis; the housing market crash. As a realtor, I would like the candidates to tell us what they intend to do about this problem if they are elected. The present government remedy of bank bail-outs will only exacerbate the root problem by removing the bank's incentive to deal in a timely manner with the more than 6% of all mortgages in the US which are in foreclosure or pre-foreclosure.

    Just as market forces were finally beginning to address the foreclosure problem by lenders putting in place loss mitigation staff and programs that were starting to become effective at working out deals with buyers who were willing to pay present market value for the bank's pre-foreclosure and foreclosed properties the government comes along and stops the works. This is a classic example of the "unintended consequences" law.

    The banks have suddenly just stopped making any good faith efforts to work out these deals that were in the pipeline for months. We are now seeing banks refusing cash offers for more than the bank's own appraised value (which they would have accepted a few weeks ago) presumably because the banks now realize that they have a much more gullible buyer in the US government since the government is using OPM and really has no skin in the game. And, now that the lenders and banks have this free money flowing in from their rich uncle (Sam) they have little incentive to bow to actual market forces and sell their loser assets now at actual market value. It will take the Fed years to gear up with staff and programs to begin any liquidation of these non-performing loans, thus, in effect, the US government has totally erased the progress that the free market has made in the last 2 years toward addressing the root problem of the housing crash.

    The total ultimate debt on these non-performing loans from unpaid debt service, real estate taxes, condo maintenance fees, utilities and other costs of holding tangible assets until liquidated will grow to staggering proportions before the government gears up to deal with them thus driving their value down and driving up the ultimate cost to the taxpayers who are funding these bail-outs.

    I would like to know the candidates positions on this issue in more depth and whether they will continue to advocate taxpayer bail-outs which create these adverse, unintended consequences.

    October 15, 2008 at 9:42 am |
  16. Cindy

    I did remember that Gore was leading Bush up until the election!. That is why I think this thing is still wide open. It ain't over 'till the fat lady sings...as they say!

    Can't wait to see the debate tonight!


    October 15, 2008 at 9:27 am |
  17. Ken

    Anderson, Anderson, Anderson, Bubba, Pal `
    Watching you and Kathy on the tv show this morning (Wednesday) are you actually wearing the same suit, tie and shirt you wore last night on your show? Tell me that you did both shows on the same day! Just kidding, but had to give you a rough time!

    October 15, 2008 at 9:23 am |
  18. Brenda Harris

    We will need someone with the education and intelligence enough to deal with such complex issues. Yes! I think we will need a Lawyer who will be able to decipher intelligence and make the good judgements in order that we do not suffer dangerous and deadley consequences for our actions. Bush didn't get it and Mccain doesn't get it either.

    October 15, 2008 at 9:19 am |