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SCHIEFFER: Good evening. And welcome to the third and last presidential debate of 2008, sponsored by the Commission on Presidential Debates. I'm Bob Schieffer of CBS News. The rules tonight are simple. The subject is domestic policy. I will divide the next hour-and-a-half into nine-minute segments. I will ask a question at the beginning of each segment. Each candidate will then have two minutes to respond, and then we'll have a discussion. I'll encourage them to ask follow-up questions of each other. If they do not, I will. The audience behind me has promised to be quiet, except at this moment, when we welcome Barack Obama and John McCain. (APPLAUSE) Gentlemen, welcome. By now, we've heard all the talking points, so let's try to tell the people tonight some things that they -- they haven't heard. Let's get to it. Another very bad day on Wall Street, as both of you know. Both of you proposed new plans this week to address the economic crisis. Senator McCain, you proposed a $52 billion plan that includes new tax cuts on capital gains, tax breaks for seniors, write-offs for stock losses, among other things. Senator Obama, you proposed $60 billion in tax cuts for middle- income and lower-income people, more tax breaks to create jobs, new spending for public works projects to create jobs. I will ask both of you: Why is your plan better than his? Senator McCain, you go first. MCCAIN: Well, let -- let me say, Bob, thank you. And thanks to Hofstra. And, by the way, our beloved Nancy Reagan is in the hospital tonight, so our thoughts and prayers are going with you. It's good to see you again, Senator Obama. Americans are hurting right now, and they're angry. They're hurting, and they're angry. They're innocent victims of greed and excess on Wall Street and as well as Washington, D.C. And they're angry, and they have every reason to be angry. And they want this country to go in a new direction. And there are elements of my proposal that you just outlined...