McCain Suspends Campaign to Assist Bailout Negotiation

From Drudge:

MCCAIN SUSPENDS CAMPAIGN TO FOCUS ON ECONOMY; WANTS DEBATE DELAY
Wed Sept 24 2008 14:58:02 ET
McCain: America this week faces an historic crisis in our financial system. We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. If we do not act, ever corner of our country will be impacted. We cannot allow this to happen.
Last Friday, I laid out my proposal and I have since discussed my priorities and concerns with the bill the Administration has put forward. Senator Obama has expressed his priorities and concerns.This morning, I met with a group of economic advisers to talk about the proposal on the table and the steps that we should take going forward.I have also spoken with members of Congress to hear their perspective.
It has become clear that no consensus has developed to support the Administration’ proposal. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.
Tomorrow morning, I will suspend my campaign and return to Washington after speaking at the Clinton Global Initiative. I have spoken to Senator Obama and informed him of my decision and have asked him to join me.
I am calling on the President to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself. It is time for both parties to come together to solve this problem.
We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved.I am directing my campaign to work with the Obama campaign and the commission on presidential debates to delay Friday night’s debate until we have taken action to address this crisis.
I am confident that before the markets open on Monday we can achieve consensus on legislation that will stabilize our financial markets, protect taxpayers and homeowners, and earn the confidence of the American people. All we must do to achieve this is temporarily set politics aside, and I am committed to doing so.
Following September 11th, our national leaders came together at a time of crisis. We must show that kind of patriotism now. Americans across our country lament the fact that partisan divisions in Washington have prevented us from addressing our national challenges. Now is our chance to come together to prove that Washington is once again capable of leading this country.
Developing…

The report yesterday by ABC’s Jake Tapper that both Democrats and Republicans on Capital Hill had balked at approving any bailout unless McCain voted yea may have in part precipitated the senator’s decision.

[Tapper] It’s McCain who may hold the fate of the $700b bailout proposal in his hands.
* * * *
And Democratic leaders have told the White House a deal without McCain on board will mean no sale.
* * * *
[Senate President Harry Reid] “We need the Republican nominee for president to let us know where he stands and what we should do.”

ADDENDUM
Senator Obama has declined to postpone the debate or suspend his campaign. From Reuters.

Democrat Barack Obama on Wednesday rejected opponent John McCain’s call to postpone the first U.S. presidential debate to work on legislation dealing with the worst U.S. financial crisis since the Great Depression.
Obama made the statement shortly after McCain, a Republican senator from Arizona, called for Friday’s debate to be postponed and said he would suspend his campaign to help work out agreement among lawmakers on a proposed $700 billion financial bailout plan.
“What I’m planning to do now is debate on Friday,” Obama said from the hotel where he has been preparing for the debate.
“It’s my belief that this is exactly the time when the American people need to hear from the person who in approximately 40 days will be responsible for dealing with this mess,” he said. “I think that it is going to be part of the president’s job to deal with more than one thing at once.”

Aren’t some situations serious enough to warrant the president’s full attention? Wouldn’t this be one of them? Further, Senator McCain did not suspend his campaign indefinitely; he proposed to negotiate a resolution with all parties by Monday morning.
Faced with such a serious problem, would a President Obama “multitask”, inclusive of tending to his reelection campaign, through a resolution?

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Greg
Greg
12 years ago

Hopefully that sniveling little puke McCain will simply say “No” to the bailout and we can all go about our business without having shelled out most of a trillion dollars to help rich guys that don’t really need the help.

Will
12 years ago

Brilliant, simply brilliant. He’s “all in.”
Greg,
The “rich guys” are the ones that employ and provide access to credit to the rest of us. Remember that. Just as a rising tide lifts all boats, a financial iceberg will sink the whole boat — and we’re heading straight towards it.
Sen. John McCain just demonstrated real presidential-style leadership, and left Barry looking like a little man. McCain even managed to out stage President Bush, by putting his Country First.
Psst! McCain just won the election today, but don’t tell Barack just yet (we don’t want to hurt his feelings)!

George
George
12 years ago

It will be interesting to see how the media plays this, but right now it seems Democrats opened a door for McCain and left their candidate out in the parking lot, without a plan of “his own”.

Greg
Greg
12 years ago

Will,
I understand ‘trickle down economics’ just fine. The rich piss on the little guy and we’re supposed to thank them.

Will
12 years ago

Greg,
It’s called Capitalism. Get used to it!
PS Have you ever been employed by a poor person?

chuckR
chuckR
12 years ago

I think McCain should designate Palin to debate for him. Something along the lines of “I have complete confidence in your next VP and have asked her to stand in for me while I do something important for the country”.

David
David
12 years ago

Will, you said- ” It’s called Capitalism. Get used to it!
PS Have you ever been employed by a poor person? ”
The PS part? Isn’t that what you say about state workers and teachers? That they are employed by poor people- aka taxpayers?
ChuckR-What would that important thing be?

chuckR
chuckR
12 years ago

David – although you wouldn’t know it based on his performance, BO, along with Maverick, is one of 535 people charged with lawmaking and regulatory oversight. Can you think of something that needs some of each at this juncture? Perhaps BO can phone in a vote of present.

Phil
Phil
12 years ago

McCain in danger of losing more ground to Obama on the economy grandstands a return to Washington (the place ridiculed along the campaign trail) and the comfortable Senate ( the most important body in the world to John McCain) to appear presidential. Have I missed something? We are not back in John Adams day where business of state needed to be conducted in a prescribed geographic location because there was no other effective way to communicate. I know Senator McCain has been around awhile but this is absurd. He reminds me of the character played by Humphrey Bogart who as an incompetent Navy captain reinacts his former glory of uncovering food pilfering and the subsequent promotion all the while rolling ball bearings in his hand. McCain returns to the Senate where the bulk of his accomplishments lie and that looks Presidential. I would say Seniortorial.

Mariel Sanchez
Mariel Sanchez
12 years ago

At 9:16 a.m. Ben Smith tell us John McCain will be addressing the Clinton Global Initiative.
At 10:00 a.m., Congressional leaders are meeting to work on the bailout deal. Some aides said that “not too many” issues remain unresolved for the 10 a.m. meeting.
At 4:00 p.m., (ABC News reported via email) George Bush, will be hosting the White House photo-op (that’s what Barney Frank is calling it). John McCain will be there for that session.
Let’s be clear: McCain will miss the meeting about substance. But, McCain will be there for the grandstanding. You know the Palin/McCain campaign is secretly hoping there is no deal. For them, no deal means no debates.
The above is a cut and paste from American Blog full story is at
http://www.americablog.com/2008/09/while-mccain-is-in-nyc-congress-is.html
Furthermore, check these clash videos I found yesterday about the US Presidential candidates have talked taxes. Well, it’s entitled Obama v. McCain on Taxes. Watch these statements – then vote in http://clashorama.com/index.php?id=194

OldTimeLefty
12 years ago

Hey Will,
I got your politics right here- right out of Marat/Sade:

Observe how easily a crowd turns mob
Through ignorance of its wise rulers job
Work for and trust the powerful few
What’s best for them is best for you.

If you are so intent on Kow-towing you might be better off living a few hundred years ago in Imperial China. Try offing yourself in the hope that you’ll be reborn in the past as a coolie with a rickshaw. Then you’ll be living your politics.
OldTimeLefty

rhody
rhody
12 years ago

It’s not about McCain wanting to save the economy. It’s about McCain wanting to have his debate postponed to Thursday…thereby cancelling the VP debate.
McCain blowing off a Letterman appearance to do damage control with Katie Couric last night tells you all you need to know.

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