Wednesday, September 24, 2008

McCain to suspend campaign in light of the financial crisis, asks that Friday's debate be postponed

John McCain will be suspending his campaign to return to Washington, DC tomorrow to help facilitate a deal with congress on passing the bailout proposed by Secretary Paulson and Chairman Bernanke. He has also called on Obama to join him, part of McCain's proposal is that he wants to cancel Friday's planned debate in Mississippi as well.
McCain's statement, in stark contrast from some of the remarks he's made this week, compares the current financial crisis to the aftermath of 9/11 and speaks with great urgency on the matter.
Here is a snippet of his remarks:
". . .It has become clear that no consensus has developed to support the Administration's proposal. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time."
He continues, talking about the need to rise above politics and making sure the leaders of both parties come together in a way that facilitates the passage of legislation through congress, the statement contains no jabs at Obama or Democratic lawmakers, but stresses the need for bipartisan support.
"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."
The Obama campaign released a statement shortly thereafter through spokesman Bill Burton:
"At 8:30 this morning, Senator Obama called Senator McCain to ask him if he would join in issuing a joint statement outlining their shared principles and conditions for the Treasury proposal and urging Congress and the White House to act in a bipartisan manner to pass such a proposal. At 2:30 this afternoon, Senator McCain returned Senator Obama’s call and agreed to join him in issuing such a statement. The two campaigns are currently working together on the details."
Note how the Obama statement immediately starts off by saying that the coming together of the campaigns was originally Obama's idea, but doesn't address anything in McCain's original statement, and doesn't draw any conclusions as to whether Obama or the campaign would agree to postpone Friday's debate.
Obama needs to be VERY careful here, if he rejects McCain's plea as a political stunt, like he did with McCain's statement last week about wanting to form a commission to investigate why Wall Street fell apart, then he risks a huge backlash from Republicans claiming, as has been a favorite attack of theirs in the past, that Obama puts his own Presidential ambitions before the needs of the country. Going along with McCain would be a smart play, and I think that the American people may breathe a sigh of relief if they see the two contenders for President, who've been deadlocked in a highly contentious campaign, working together on real solutions to the financial crisis.
As the leaders of their respective parties, both candidates hold a lot of power in decision making on the hill, and if a bipartisan compromise can be found to solve the current financial crisis, it may be just what ordinary Americans are looking for, and may give the average voter confidence that the system still works. However, if either tries to use it as a political stunt, blaming the other for why a compromise didn't work, or for barricading some needed changes for perceived political gain, then there could be the potential for huge backlash from voters that are sick and tired of politics, and are looking for REAL leadership right now.

***UPDATE: According to Rep. Rahm Emanuel, Obama's chief debate coordinator, in regards to Friday's debate: "We can handle both," and according to another advisor in the Obama campaign. "the debate is on."

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