McCain to Suspend Presidential Campaign

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McCain to Suspend Presidential Campaign

2:00 PM:  John McCain wants to suspend his campaign for President in order to return to Washington to work on the economic Crisis.

McCain wants to postpone the Presidential debate scheduled for Friday, September 26, 2008.  That debate was to focus on national security.

What is McCain trying to do?  Is he trying to show his leadership?  Is this a ploy to emphasize his campaign slogan of “Country First?”  Is McCain trying to get out of the debate?

McCain is speaking right now on national television.  “Now is our chance to come together to prove that Washington is capable of leading this country.”

McCain reports that he has talked to Senator Obama.  No word on Obama’s response.

Our initial reaction is one of concern about McCain’s history of risky, knee-jerk reactions.

We have comments here from the Huffington Post and from John McCain’s Camp.

From the Huffington Post:

McCain said he wants President Bush to convene a leadership meeting in Washington that would include him and Obama.

“It has become clear that no consensus has developed to support the administration’s proposal,” McCain said. “I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.”

McCain said if Congress does not pass legislation to address the crisis, credit will dry up, people will no longer be able to buy homes, life savings will be at stake and businesses will not have enough money

“If we do not act, ever corner of our country will be impacted,” McCain said. “We cannot allow this to happen.”

McCain said he has spoken to Obama about his plans and asked the Democratic presidential nominee to join him.

The Obama campaign said Obama had called McCain around 8:30 a.m. Wednesday to propose that they issue a joint statement in support of a package to help fix the economy as soon as possible. McCain called back six hours later and agreed to the idea of the statement, the Obama campaign said. McCain’s statement was issued to the media a few minutes later.

“We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved,” McCain said. “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.”

From an email from the McCain Camp at 3:00 PM:

John McCain’s 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.

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