As distilled by Will Wilkinson, live-blogging from the 2nd debate.

The financial crisis

Obama:

We’ve got an antique regulatory structure. Need to put back early 20th Century laws!

McCain:

Got to do something about home values. We have to make sure that markets prices don’t adjust. Government should buy tons of houses …

[Will the economy get worse before it gets better?] Not if we give people free houses!

Healthcare

Obama:

I’m gonna reform health care, which won’t cost anything.

When we’re this wealthy, the idea that sick people should have to not spend other people’s money is an outrage. Mandate won’t hurt that much. It’s for your own good. McCain doesn’t give a crap for kids because giving a crap for anything means voting to give them things.

McCain:

Online records, improve efficiencies. Obama is all like “government this government that.” Obama will fine you if you don’t get insurance. I’ll give you tax credit you can take anywhere.

Energy and the environment

Obama:

People other than us benefit from higher oil prices, which is outrageous. … Let’s think harder about how we use energy. Holy god there is nothing more important than not trading with foreigners for energy.

We can centrally plan green economy into prosperity.

McCain:

If only we had nuclear power Indians would not weep. The French do it! America’s the best! We can do anything!

Fiscal policy

Obama:

If people make more than you, its not fair for you to have to tighten your belt.

I will cut taxes for everyone other than the despicable wealthy.

McCain:

Freeze spending, except defense, VA, entitlements, and buying every house in America.

Foreign policy

Obama:

Basically, I have no principle. I leave it at the discretion of my evolved moral intuition.

Iran can’t get nukes. But let’s talk about it.

McCain:

America is greatest force for good in history of universe forever. We shed our blood everywhere. The question of when to kill people needs to be left [to] soldiers like me. Our wars are awesome because we’re a nation of good.

We should do whatever we can to help whenever we can. I have no principle for intervention either.