Debate prospects questionable

— -- Prospects were questionable at best that John McCain and Barack Obama would hold their first presidential debate on Friday as progress appeared to dissolve between Congress and the Bush administration on a $700 billion financial industry bailout.

John McCain confirmed earlier Thursday that he would not attend during the economic crisis, while Barack Obama said he still wants the face-off to go on.

The Democrat was scheduled to travel to the debate site in Oxford, Miss., on Friday, where Jim Lehrer, of PBS' NewsHour is set to moderate at the University of Mississippi.

"I believe that it's very possible that we can get an agreement in time for me to fly to Mississippi," McCain said late Thursday. "I understand how important this debate is, and I'm very hopeful. But I also have to put the country first."

In turn, Obama said: "It is my intention to be in Mississippi, and obviously the biggest priority is making sure that we get this deal done. But I also think it's important to describe to the American people where the next president wants to take the country and how he's going to deal with this crisis."

Both candidates made the rounds on network evening news programs after meeting on the crisis with President Bush and bipartisan congressional leaders at the White House. McCain did not participate in late-night negotiations on Capitol Hill but worked the phones from his Virginia home. A senior McCain official said McCain hasn't signed on to any one proposal, though he does agree there needs to be a greater protection for taxpayers.

"I cannot carry on a campaign as though this dangerous situation had not occurred, or as though a solution were at hand, which it clearly is not," the Arizona senator said.

Obama, noting the election was 40 days away, said he believes the American people deserved to hear from the two candidates at a time of economic crisis and while the county is engaged in two wars abroad.

"The times are too serious to put our campaigns on hold or to ignore the full range of issues that the next president will face," the Illinois Democrat said.