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US rivals spar in first TV debate US rivals spar in first TV debate
(30 minutes later)
US presidential rivals Republican John McCain and Democrat Barack Obama have attacked each other over the economy, Iraq and Iran in their first TV debate. US presidential rivals Republican John McCain and Democrat Barack Obama have attacked each other over foreign policy and the economy in their first debate.
Asked about a proposed $700bn (£380bn) bail-out of the US economy, Mr Obama said it was the "final verdict" on eight years of Republican policies.Asked about a proposed $700bn (£380bn) bail-out of the US economy, Mr Obama said it was the "final verdict" on eight years of Republican policies.
Senator McCain said they had "a long way to go" before the crisis was over.
On Iraq, Mr McCain praised the "surge" strategy, while Mr Obama said the US military had not been "used wisely".On Iraq, Mr McCain praised the "surge" strategy, while Mr Obama said the US military had not been "used wisely".
Mr McCain said he did not believe his rival had the experience to lead.
The Democrat said he had been right to oppose the 2003 invasion of Iraq and that the US had taken its eye off the ball in Afghanistan, where it should have been pursuing al-Qaeda.The Democrat said he had been right to oppose the 2003 invasion of Iraq and that the US had taken its eye off the ball in Afghanistan, where it should have been pursuing al-Qaeda.
Mr McCain said that as a result of the surge - which involved sending some 30,000 extra US troops to Iraq - US military strategy was succeeding. We have to move swiftly and we have to move wisely Senator Barack ObamaDemocratic presidential candidate Who will show best in the debate?How should foreign policy change?Send us your comments Mr McCain said that as a result of the surge - which involved sending some 30,000 extra US troops to Iraq - US military strategy was succeeding. This isn't the beginning of the end of this crisis. This is the end of the beginning Senator John McCainDemocratic presidential candidate Who will show best in the debate?How should foreign policy change?Send us your comments
"We are winning in Iraq and we will come home with victory and with honour," he said."We are winning in Iraq and we will come home with victory and with honour," he said.
The debate in Oxford, Mississippi, was due to focus on foreign policy but the economic crisis has also come to the fore. The televised debate in Oxford, Mississippi, was due to focus mainly on foreign policy but the economic crisis has also come to the fore.
Speaking about the financial bail-out plan under discussion by the US Congress, Senator Obama said: "We have to move swiftly and we have to move wisely."Speaking about the financial bail-out plan under discussion by the US Congress, Senator Obama said: "We have to move swiftly and we have to move wisely."
Mr McCain said that while he felt happier now Congress was closer to reaching a deal on the bail-out, it would be a long time before the situation was resolved.Mr McCain said that while he felt happier now Congress was closer to reaching a deal on the bail-out, it would be a long time before the situation was resolved.
"This isn't the beginning of the end of this crisis," he said. "This is the end of the beginning if we come out with a package that will keep these institutions stable and we've got a lot of work to do.""This isn't the beginning of the end of this crisis," he said. "This is the end of the beginning if we come out with a package that will keep these institutions stable and we've got a lot of work to do."
Mr McCain attacked Mr Obama over his record on finance, saying he had asked for millions of dollars in so-called "earmarks" - money for pet projects - since becoming a senator for the state of Illinois. Mr McCain attacked Mr Obama over his record on finance, saying he had asked for millions of dollars in so-called "earmarks" - money for pet projects - since becoming a senator for the state of Illinois. Mr Obama rejected that charge.
Both candidates agreed that the bail-out plan would put massive pressure on the budget of the next president and mean cuts in government spending.Both candidates agreed that the bail-out plan would put massive pressure on the budget of the next president and mean cuts in government spending.
Tens of millions of Americans were expected to watch the debate on TV, with only about five weeks to go before the 4 November elections.Tens of millions of Americans were expected to watch the debate on TV, with only about five weeks to go before the 4 November elections.
'Serious threat''Serious threat'
Asked about Iran, Mr McCain stressed that Tehran was a threat to the region and, through its interference in Iraq, to US troops. Asked about Iran, Mr McCain stressed that Tehran was a threat to the region and, through its interference in Iraq, to US troops deployed there.
John McCain and Barack Obama on dealing with Iran
He outlined a proposal for a "league of democracies" to push through painful sanctions against Iran that were presently being blocked in bodies like the United Nations because of opposition from Russia.He outlined a proposal for a "league of democracies" to push through painful sanctions against Iran that were presently being blocked in bodies like the United Nations because of opposition from Russia.
He criticised Mr Obama for his previously stated willingness to hold talks with the leaders of Iran without preconditions.He criticised Mr Obama for his previously stated willingness to hold talks with the leaders of Iran without preconditions.
Mr Obama rejected that criticism, saying the US must engage in "tough, direct diplomacy" with Iran. Mr Obama rejected that criticism, saying he would reserve the right as president "to meet with anybody at a time and place of my choosing if I think it's going to keep America safe".
He said: "I do not agree with Senator McCain we're going to be able to execute the kind of sanctions we need without some cooperation with some countries like Russia and China.
"We also have to engage in tough direct diplomacy with Iran."
However, he said he agreed with his Republican rival that "we cannot tolerate a nuclear Iran" and the threat that that would pose to Israel, a staunch US ally.However, he said he agreed with his Republican rival that "we cannot tolerate a nuclear Iran" and the threat that that would pose to Israel, a staunch US ally.
'Safer today'
Asked about the so-called war on terror, Mr McCain said he believed the nation was safer than it had been the day after the 11 September 2001 terror attacks. One of the things I intend to do as president is restore America's standing in the world Senator Barack Obama
But, he said, there was still a long way to go to make the American people secure.
Mr Obama highlighted the cost of missile defence, saying it was important but that the lack of spending on preventing nuclear proliferation was a mistake.
He also pointed to the spread of al-Qaeda to some 60 countries and said that the US had to do more to combat its spread, including improving its own image as a "beacon of light" on rights.
"One of the things I intend to do as president is restore America's standing in the world," Mr Obama said.
The next president had to have a "broader strategic vision" than had been shown over the past eight years, he added.
Significant progressSignificant progress
Mr McCain had earlier vowed not to attend the forum in Mississippi until Congress approved the bail-out plan, but he reversed his decision after some progress was made towards a deal.Mr McCain had earlier vowed not to attend the forum in Mississippi until Congress approved the bail-out plan, but he reversed his decision after some progress was made towards a deal.
Tens of millions of Americans were expected to watch the debateLess than 10 hours before the scheduled start of the debate at the University of Mississippi, Mr McCain's campaign announced it was "resuming all activities" and that the senator would take part.Tens of millions of Americans were expected to watch the debateLess than 10 hours before the scheduled start of the debate at the University of Mississippi, Mr McCain's campaign announced it was "resuming all activities" and that the senator would take part.
Mr McCain was now optimistic that there had been "significant progress towards a bi-partisan agreement" on the bail-out, the campaign statement said.Mr McCain was now optimistic that there had been "significant progress towards a bi-partisan agreement" on the bail-out, the campaign statement said.
"Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners," it added."Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners," it added.
Speaking to reporters on his way to the debate, Senator Obama said: "My strong sense is that the best thing I can do, rather than to inject presidential politics into some delicate negotiations, is to go down to Mississippi and explain to the American people what is going on."
The BBC's Jamie Coomarasamy in Mississippi says this debate would have been a huge set-piece event under any circumstances - but the economic crisis and its political fallout have only heightened the sense of drama.The BBC's Jamie Coomarasamy in Mississippi says this debate would have been a huge set-piece event under any circumstances - but the economic crisis and its political fallout have only heightened the sense of drama.
Deadlock
The US Commission on Presidential Debates had warned that Friday's debate would go ahead with or without Mr McCain.
Mr Obama had always insisted he would attend the event.
The topics for the 90-minute discussion are national security and foreign policy, considered Mr McCain's strengths, although correspondents say the financial crisis is almost certain to be discussed.
Talks between Congressional leaders and President George W Bush on a proposed $700bn (£380bn) package resumed on Friday morning after ending in deadlock on Thursday evening.Talks between Congressional leaders and President George W Bush on a proposed $700bn (£380bn) package resumed on Friday morning after ending in deadlock on Thursday evening.
The proposal ran into renewed difficulties when some Republican congressmen withheld their approval, offering an alternative scheme.The proposal ran into renewed difficulties when some Republican congressmen withheld their approval, offering an alternative scheme.
In a statement on Friday, Mr Bush conceded that there were disagreements over aspects of the plan, but stressed everyone agreed something substantial had to be done.In a statement on Friday, Mr Bush conceded that there were disagreements over aspects of the plan, but stressed everyone agreed something substantial had to be done.
You can follow a live text commentary with video of the first presidential debate from 0100 GMT on the BBC News website.You can follow a live text commentary with video of the first presidential debate from 0100 GMT on the BBC News website.