Neither candidate would go out on a limb and get way specific on cuts. Both said cut waste (standard political line... exactly what Bush said). That's actually understandable because at the time of the debate no one new exactly the make up of the bailout.
Senator Obama brought up bringing the occupation in Iraq to a responsible end and stop wasting $10+ BILLION DOLLARS per month there while they themselves have a $79 BILLION DOLLAR surplus.
Senator Obama also explained cutting out corporate tax loopholes that reward companies for moving jobs over seas... and cutting subsidies (Corporate Welfare) to Big Oil already making record profits. And he said he go over all budget items looking to make cuts of programs that either weren't working or could work better in some other form.
He actually talked about this for quite a while I'm surprised you missed it.
Obama talked about more education (spending), college for all (spending), making people buy US cars (spending), alternative energy (spending).
McCain said he would cut ethanol subsidies totally (savings), and get back to fixed cost defense contracts (savings).
It would appear Obama had not done his homework... maybe it was above his pay grade of course.