Here’s what Wu asked Coakley: “If elected, you’ll be voting to spend trillions of taxpayers’ money. What can you tell taxpayers tonight to convince them that they can trust you to spend their dollars?”

Coakley’s response relied on the fact that she has guarantees through her government job, so she didn’t choose to save.

Coakley said: “I have been prudent, I believe, in my own affairs in terms of the security I have, the insurance that I have. I have a state pension. I have health care and other disability insurance that I need. My husband has assets and we are very security conscious… and we have been very careful not to accumulate debt that we cannot afford. By the same token we have a lifestyle that is of our choosing and I make no apologies for how we live our life.”

After the debate, I asked Coakley if she understands why people are puzzled with her low savings rate – particularly because most people without a government pension have just seen their 401Ks eviscerated by last year’s stock market crash.

Coakley said: “I guess I don’t understand that. I didn’t invest in the stock market. I’ve been a government employee, I put my money in other places including a home, including our lifestyle, and I didn’t lose. But I certainly feel for those who did.”

She talked about her consumer protection efforts as Attorney General, but then for some reason, referring back to people’s savings in the stock market, she added: “It’s apples and oranges.”