Chicago Sun-Times
The scoop from Washington

McCain suspends campaign to work on emergency economic legislation; asks Obama to suspend Friday debate.

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WASHINGTON--In a dramatic move, John McCain on Wednesday said he will suspend his campaign and return to Congress to work on the stalled emergency financial bailout legislation, rushed to lawmakers to address the U.S. economic crisis. He also asked Barack Obama to join him in crafting a joint plan with House and Senate leadership to be ready before the markets open on Monday. McCain also asked Obama to postpone the first presidential debate on Friday night in Mississippi. Obama's team is not inclined to want the postponement.

Earlier Wednesday, Obama phoned McCain at 8:30 a.m. to ask him to issue a joint statement addressing the bailout plan offered by the Treasury Department that members of Congress from both parties are balking at accepting. At 2:30 p.m. McCain returned Obama's call to agree and soon after talked about suspending his campaign


In New York, McCain said, "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.

"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."


All: Please see John McCain's remarks as prepared for delivery today in New York City:

Remarks on the Economic Crisis

New York, NY

Wednesday, September 24, 2008

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'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.

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.

7 Comments

The Reichstag is burning! So if Senators McCaine, Obama, and Biden all return to Washington, that leaves Governor Palin alone on the campaign field or is she also suspending her campaign?

there have been campaigns and elections in time of war, even civil war. so the oba has a few points in rolling on. the senator from arizona has rarely completed a full week of compaigning, be it act of wall street (as now), or of god,e.g. his convention.
yet to his merit, it was to a raukus, hostile republican crowd in new york city some four years ago, mccain said, "i don't doubt the sincerity of my democratic friends. and they should not doubt ours...We have nothing to fear from each other...we are arguing over the means to better secure our freedom, and promote the general welfare. let us argue our differences."
gosh, sometimes even a blind pig can find a corn field, yes?

The process of our government should stop for nothing. This is absolute madness. I have never seen such a blatant disrespect for our country and all that we stand for as a country. Do I agree with everything that politicians do no, but, I respect the office. I respect the running and election process for the highest office in the land and for McCain to do this to me it is just disrespectful.

COUNTRY ABOVE POLITICS !!!
This is another example of how Senator John McCain puts country first. All Obama cares about is winning the election at any cost. Obama neglected his duties as U.S. Senator before running for President, and especially after he began running for President. Many of the bloggers who are criticizing McCain for this decision wouldn't recognize responsibility, or integrity if it bit them on the ass. Keep America strong and safe ... Elect McCain/Palin in November.

THEY BUSTED JOHN MCCAIN HE HAD NOT SPOKEN TO
PEOPLE IN DC SINCE MARCH AND NOW HE IS GOING TO
SUSPEND HIS CAMPAIGN AND FLY IN TO SAVE THE DAY!
HE COULDN'T SOLVE THIS PROBLEM IF HE WANTED TO,
NO COMPUTER SKILLS, DOESN'T E-MAIL, NOT VERSED
ON THE ECONOMY, HE SURELY IS THE RIGHT MAN TO
SOLVE THIS BLUNDER, GIVE ME A BREAK!
MCCAIN IS LOSING THE CAMPAIGN AND HE WANTS TO
TAKE A TIME-OUT AND REGROUP, UNFORTUNATELY FOR
HIM IT DOESN'T WORK THIS WAY, IT WILL ALL BE OVER
IN 40 DAYS, DEAR JOHN YOU CAN GO REST IN ARIZONA!
BARACK OBAMA A MAN WHO CAN MULTI-TASK!

Where can I get more information about McCain and Obama about the issues that they've been encountering now?

Where can I get more information about McCain and Obama about the issues that they've been encountering now?

www.work-at-home-parents.org
We are happy!!!

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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About this Entry

This page contains a single entry by Lynn Sweet published on September 24, 2008 2:31 PM.

Obama, McCain working on joint economic statement as Congress balks at Bush bailout plan. was the previous entry in this blog.

Barack Obama inclined to go ahead with Friday debate, despite John McCain call to postpone is the next entry in this blog.

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