US rivals face off in final debate

October 15, 2008 12:00 am

, WASHINGTON, October 15 – The final debate of the two main presidential contenders in the United States of America takes place on Wednesday at 9 pm local time (4am Kenyan time).
Democratic candidate Barrack Obama and Republican John McCain will meet for the third face-off at Hofstra University in New York.

The main issues to be discussed will be the domestic policy and the economy especially against a backdrop of a meltdown that has ripped across the United States.
Both candidates have unveiled their economic plans.
On Monday Mr Obama laid out a $60 billion plan to boost the economy where he proposed to give businesses a $3,000 refundable tax credit for each full time employee hired in the US for the next two years.
He also proposed to approve a 90-day foreclosure moratorium for home owners making efforts to keep up with their mortgage payments.

He would also allow small businesses to immediately write off up to $250,000 in spending for new equipment and property through the end of 2009.

Mr McCain on the other hand Tuesday rolled out a $52 billion plan where he said he would reduce top tax rate on long term capital gains, currently at 15 percent to 7.5 percent for two years.

He also said he would eliminate taxes on the unemployment benefits.
Wednesday night’s debate was expected to be the hottest with both candidates going for the undecided voters.

It is also said that Mr McCain may bring out the issue of Bill Ayers a 1970’s radical who has been linked to the Democratic candidate. But according to political analysts on CNN, this may only impact negatively on the undecided votes.
Opinion polls for the last two debates indicated that Obama was in the lead.
In addition, the Democratic candidate is leading with 264 electoral votes while McCain has 174 electoral votes. 270 votes are needed for a candidate to win the White House race.


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