Obama, McCain square off in first debate

Economy takes up nearly half of contest before moving on to foreign affairs
Sens. Barack Obama and John McCain squared off in the first of three debates Friday in a spirited, though rarely testy, exchange where they spent nearly half their time discussing economic issues, as the financial crisis on Wall Street overshadowed the original plan to focus on foreign policy.
In a debate that almost wasn't, Obama and McCain talked about how they would contend with the expected bailout of the nation's financial firms and how it could have an impact on federal spending, before the talk turned to foreign relations. It was unclear whether there was a victor in the first contest, as analysts said Obama seemed to hold his own in both subject areas.
Moderator Jim Lehrer asked what priorities the two men would keep and where they would cut to pay for the bailout. Each offered ideas on where to cut, with McCain suggesting a spending freeze on all programs other than defense, veterans and entitlement programs.