Once again, CNN is showing how voters are reacting to the debate arguments, real-time. Among the more fascinating responses was the one John McCain elicited when he attacked Barack Obama for supporting too much spending. From what I could tell, it got no response at all.

I have no idea how accurate that is. But I wonder if it's evidence that the whole "tax-and-spend" attack--the one Republicans used so successfully, for so many years--has finally lost its punch.

For what it's worth, I think McCain's delivery during this town hall is light years better than it was in the previous debate. He's clearly very comfortable in this format. That said, I stand by what I've written before: Cutting spending is not an answer to our economic problems. In fact, this would be a pretty good time to spend some money--on things like health care reform and energy independence--that will make our economy stronger in the long run.

And, what do you know, Obama said just that in response. (And the CNN meters approve.)

--Jonathan Cohn