At first I thought it was a crack pipe or possibly a pocket knife in case they got into hand to hand combat, but after looking at it a few times I think it might just be a watch. Doesn't look like papers to me.
If you enlarge it you can see it is a piece of paper.
No pens or pencils were allowed unles placed there by the event commission.
"Doesn't look like papers to me."
Well, then that would rule out spitballs.
People, if this story persists, the issue of Bush's performance is going to disappear. This is no different than CBS's fraudulent documents. The content becomes utterly insignificant if the mechanism is illegal. This is identical to throwing out evidence in a trial obtained illegally.
If it had been a watch, then Kerry's spokesman interviewed by Drudge would have said so. That said, my reading of the rules would make a watch, such a stopwatch to time himself, also a violation. Besides, even a dork like Kerry would not keep a watch in the inside pocket of his suit jacket, it would tend to make a bulge and droop. Gigalo John is more concious of his appearance than that.