On the economy, McCain unveiled what he called a new plan for the Treasury to buy up distressed mortgages to help struggling homeowners.

Sen. John McCain: “As president of the United States, Alan, I would order the secretary of the Treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes
—- at the diminished value of those homes and let people make those -— be able to make those payments and stay in their homes. Is it expensive? Yes.”

The Obama campaign later said McCain’s plan is already in the bailout approved by Congress and that Obama has already proposed it. Obama said McCain’s credibility on addressing the economy is undermined by his endorsement of Bush administration tax cuts.

Sen. Obama: “Now, when Sen. McCain is proposing tax cuts that would give the average Fortune 500 CEO an additional $700,000 in tax cuts, that’s not sharing a burden. And so, part of the problem, I think, for a lot of people who are listening here tonight is they don’t feel as if they are sharing the burden with other folks.”

On energy policy, both candidates endorsed the use of nuclear power and coal. McCain took it a step further, dismissing Obama’s qualification that nuclear power should come with safeguards.

Sen. McCain: “What’s the best way of fixing it? Nuclear power. Senator Obama says that it has to be safe or disposable, or something like that. Look, I — I was on Navy ships that had nuclear power plants. Nuclear power is safe, and it’s clean, and it creates hundreds of thousands of jobs.”