Debate Details:
1. 9-10:30 PM ET.
2. PBS’s Jim Lehrer is host.
3. 6 segments, 15min: 3 on economy, one on health care, one on governing, one on role of G.
Debate Scorecard:
1. Romney has to forcefully explain why his economic and tax reform plan will create jobs.
2. Obama must detail what he would do (plan), not what he hopes the outcome will be (jobs).
3. Romney has to turn lemons (47%) into lemonade (Obama has made them dependent on G).
4. Obama has to play defense without looking like he’s playing defense on his job policies.
5. Romney must use his $17k cap on deductions to show he’s not soft on wealthy.
6. Obama must have a plan for entitlements versus a goal.
7. Romney must avoid going off message and avoid off-the-cuff comments.
8. Obama has to avoid “Gore-like” tendencies and not sound to professorial.
What’s at stake: Currently, the market is pricing in status quo with Democrats keeping Senate, Republicans keeping House and Obama winning four more years. If there is not change to this scenario, the market will react neutrally and focus on fiscal cliff concerns being offset by global central bank quantitative easing. As I mentioned in USAToday, an Obama increase in dividend taxes could cause investors to dump dividend paying stocks in favor of growth stocks. If Romney does well, we’ll see the markets begin to price in a positive premium for both small-to-medium sized firms due to his bigger corporate tax cut and a positive premium for big tech and big pharma due to his elimination of the 35% dividend repatriation tax on overseas profits.
Debate Bingo
Middle Class Millionaires and Billionaires Joe Biden Obamacare
Wealthy Bush Tax Cuts Paul Ryan Big Govt.
Top 1% Tax Returns Warren Buffet Broken Promises
99% Failed Bush Policies Entitlements Vouchers
47% Our Troops Social Security Medicare
Capital gains Energy Independence Regulation Dividend tax
Bonus Pts. pass-through corporations Fast-and-Furious Fair Share
