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Wednesday, September 24, 2008

McCain Suspends Campaign To Deal With Wall Street Bailout Negotiations

A more in depth piece here on the following thread.

John McCain announced he is suspending his campaign to travel back to Washington to join in with the Wall Street bailout negotiations, via Fox News:

John McCain announced that he will suspend his presidential campaign on Thursday to return to Washington to help with Wall Street bailout negotiations. He urged his opponent Barack Obama to do the same.

The Arizona senator also asked the Presidential Debate Commission to postpone Friday’s scheduled debate with Obama so that he can work on the financial crisis bailout plan now on Capitol Hill.

“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,” McCain said in remarks to reporters from New York.

A senior Obama campaign official told FOX News that Obama still plans to go forward with Friday’s debate. Obama is expected to issue a statement shortly.

McCain said he will leave the campaign trail after delivering an address to former President Clinton’s Global Initiative on Thursday morning. He canceled a Wednesday afternoon taping of The Late Show With David Letterman show and a Thursday interview with FOX News

Political Radar says Obama is not willing to cancel the debate to focus on the Wall Street bailout.

ABC News’ George Stephanopoulos and Rick Klein report: Sen. John McCain on Wednesday said he would “suspend” his presidential campaign to come to Washington to help negotiate a financial bailout bill, a dramatic move designed to seize a powerful issue.

However a senior Obama campaign official said Obama "intends to debate."

"The debate is on," a senior Obama campaign official told ABC News.

McCain said he called on the Commission on Presidential Debates to postpone the debate scheduled for Friday in Mississippi, to ensure quick congressional action. The campaign is also suspending its advertising, pending an agreement with Obama.

“I have spoken to Senator Obama and informed him of my decision and have asked him to join me,” McCain planned to say in New York City, according to advance excerpts released by his campaign. “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.”

Considering National Security is Mccain's strong suit, this shows a seriousness on his part to deal with the bailout issue and Obama should be happy not to have to debate but his reluctance to cancel everything in the fact of getting this taken care of, shows a lack of willingness to put country before politics.

Just walked in so this is all I have right now, will update once I catch up.