McCain, Obama split over delaying debate
NEW YORK -- The fate of Friday's planned presidential debate between Republican John McCain and Democrat Barack Obama was thrown in the air Wednesday, after McCain called for delaying the session so the two could concentrate on resolving the nation's financial crisis. Obama said he wants the debate to go on.
McCain will not participate in the debate unless a deal is reached on a bailout measure for financial markets, close adviser Sen. Lindsey Graham, R-S.C., told USA TODAY. At a news conference, Obama said the debate was more important than ever.
"It's my belief that this is exactly the time that the American people need to hear from the person who in approximately 40 days will be responsible for dealing with this mess, and I think that it is going to be part of the president's job to deal with more than one thing at once," he said.
But McCain said he would return to Washington on Thursday and had asked President Bush to convene a leadership meeting on the crisis that would include him and Obama.
On Wednesday evening, Bush invited McCain, Obama and congressional leaders to the White House on Thursday in hopes of securing a deal on a financial bailout. An Obama spokesman said the senator would attend.
Shortly thereafter, McCain and Obama issued a joint statement on the financial crisis. They said the $700 billion plan the administration has proposed to bail out the financial industry is flawed, but that the effort to protect the U.S. economy must not fail.
McCain's announcement came after the two candidates held private talks about joining forces to address the Wall Street meltdown. The Obama campaign said the Democrat initiated the talks, but McCain beat Obama to the punch with the first public statement calling for the two to rise above politics in a time of crisis.
McCain said the Bush administration's plan seemed headed for defeat and a bipartisan solution was urgently needed.
"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."
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