Bloomberg.com: Worldwide. 24 (Bloomberg) -- John McCain made a surprise announcement that he was suspending his presidential campaign and called on Democratic rival Barack Obama to postpone their first debate until Congress hammers out a plan to steady the financial markets.
Obama rebuffed McCain, saying it's ``more important than ever'' for the candidates to tell voters how they would deal with the crisis. He said they can work with Congress while campaigning. ``It is going to be part of the president's job to deal with more than one thing at once,'' Obama said.
Both men said they wanted to reach a bipartisan solution to the credit crisis. McCain said the Bush administration's $700 billion proposal to rescue struggling financial companies and unlock credit markets won't pass Congress in its current form.
``It has become clear that no consensus has developed to support the administration's proposal,'' McCain said in New York. ``We are running out of time.''
The financial crisis has overshadowed the presidential campaign and both candidates have been seeking to demonstrate their leadership on the issue. McCain and Obama this week largely agreed on conditions they want included in any rescue plan, including limits on executive pay and a mechanism to recoup taxpayer money.
Trading Calls Obama said he called McCain this morning to discuss issuing a joint statement about their principles. McCain wasn't available and the Arizona senator returned his call about 2:30 p.m., according to both campaigns.
Obama said McCain mentioned the idea of meeting with congressional leaders in Washington and the possibility of delaying the debate, scheduled for Friday, though no firm agreement was reached.
At 2:35 p.m. McCain addressed reporters in New York to say he would suspend campaigning and wanted to postpone the debate. The Illinois senator indicated McCain's announcement caught him by surprise.
``I thought this was something he was mulling over, apparently this was something he was more decisive about in his own mind,'' Obama said at a hastily arranged news conference in Clearwater, Florida.
The two candidates tonight released a joint statement calling on member of Congress from both parties to work together toward a solution.
``This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe,'' the statement, released by Obama's campaign, said.
Campaign Suspension Mark Salter, a McCain adviser, wouldn't say how long the candidate would put his campaign on hold. He said the goal was to finish a bailout plan ``before markets open on Monday.''
The suspension means McCain won't hold any campaign events and won't advertise, according to Salter.
McCain has been trailing Obama in recent polls and the gap has widened as the financial-markets crisis has unfolded.
The move by McCain may be seen as ``desperate,'' said Linda Fowler, a government professor at Dartmouth College in Hanover, New Hampshire.
``He has been trying to change the conversation every time the press and public starts paying attention to the issues,'' she said.
Historians noted that the Civil War, the Great Depression and World War II didn't prompt suspensions of presidential campaigns.
``McCain's move should be judged too clever by half,'' said Stephen Hess, a scholar at the Brookings Institution in Washington.
Political Maneuver
Even so, McCain's plan leaves Obama in the position of either following McCain's lead or potentially being seen as less presidential for focusing more on the campaign, said Paul Light, a public service professor at New York University.
``The suspension does bring the `ready-to-lead' issue back into focus for McCain,'' Light said. ``Obama is damned if he does, damned if he doesn't.''
Reaction in Congress fell along partisan lines. Representative John Boehner of Ohio, the Republican leader in the House, said he ``strongly'' supported McCain's call for action. Senator Richard Durbin of Illinois, an Obama supporter, said the move may add more political maneuvering to the debate.
``Bringing a presidential campaign into this atmosphere is not going to make it easier,'' he said.
Ohio Governor Ted Strickland, a Democrat supporting Obama, concurred.
``The last thing we need is to transfer the presidential campaign to Washington, D.C.,'' Strickland said.
Debate Commission
The Commission on Presidential Debates and the University of Mississippi, the venue for the event, said they both were planning for the debate to go forward.
``We are ready to host the debate, and we expect the debate to occur as planned,'' the Oxford, Mississippi-based university said in a statement on its Web site.
As part of his plan, McCain also called on President George W. Bush to convene a meeting with congressional leaders to work on a rescue plan. The administration tonight announced that Bush did invite McCain, Obama and leaders of the House and Senate to a meeting tomorrow. Both campaigns have accepted.
Bush spokeswoman Dana Perino said the president welcomed McCain's move.
``Bipartisan support from Senators McCain and Obama would be helpful in driving to a conclusion,'' Perino said.
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What a cop out. He knows good and well that he was not ready for the debate, and by the president having that press confrence the other was just a ploy for him to bail out.....btw david letter ripped his ass in 2.YouTube - David Letterman Reacts to John McCain Suspending Campaign
Yeah, because Barack Obama, the man who can't even deliver content in his speeches, is ready for a debate? They're senators, the first line of business right now is our impending economic crisis, and they need to do their job right now and forget about the one they want this time next year.Originally Posted by Bonum83
I still suspect McCain may purposely throw this race now that hes headed off any authentic opposition (ron paul)
just like Ghouliani did twice for hilary clinton (and wouldve done again if hed gotten this far)
Except he's winning.
Except that neither one of them can make a real difference in the (possible) plan. Other than to 'rally for majority of votes.' Neither of them are in the Banking Committee(s), so they don't even have an official say.
Also, I don't think it's that Obama and/or McCain don't want to debate. If the debate tonight is postponed, the vice-presidential debate won't happen.
Not really.
Most polls have them tied or have Obama a few points ahead.
edit- Seems McCain realized his foolishness. The debate is on.
Better contraceptives will control population only if people will use them. A nuclear holocaust can be prevented only if the conditions under which nations make war can be changed. The environment will continue to deteriorate until pollution practices are abandoned. We need to make vast changes in human behavior.
-- B.F. Skinner
Its a political ploy, yes. He really can't do much in the senate, but it's a gesture that will make average Americans think he cares more.
Except that the debate in question is a foreign policy debate and will not deal with economics.Obama rebuffed McCain, saying it's ``more important than ever'' for the candidates to tell voters how they would deal with the crisis.
Obama is a phenomenal liar.
My 1,000th post was about Michael Jackson.
Sadly, you're right.
That doesn't change the fact that there's no valid reason for not having the debate.
Better contraceptives will control population only if people will use them. A nuclear holocaust can be prevented only if the conditions under which nations make war can be changed. The environment will continue to deteriorate until pollution practices are abandoned. We need to make vast changes in human behavior.
-- B.F. Skinner
Whether to hold the debate now or postpone it while the bailout talks are in progress was a valid area of disagreement - but the statement Obama made is an out-and-out lie.That doesn't change the fact that there's no valid reason for not having the debate.
My 1,000th post was about Michael Jackson.
Raistlin, are you really naive enough to believe we will handle the 750 BILLION bailout on our own? Hello? The Iraq war cost less than that and we still had to finance it through.....CHINA!
That's right folks, even if the government funds the entire 750 billion on their own, which they won't (they will get some banks and other foreign investors to buy up some assets also) then we will need to do it through other countries to finance it in the meantime.
So obviously it's fair game in foreign policy and McCain is copping out because he doesn't want to oppose OR support the bailout because he's a shifty, spineless opportunist who changes his positions due to political expediency and what he thinks people want to hear. Otherwise why did he change everything he believed in after 2004?
LMAO, I guess Brigham Young shlt those 56 kids of his own out of his ass.-Originally posted by DUI: When Mormons practiced polygamy, at the time Mormons were being killed. Because of this many of the males were killed leaving women and children without a male to take care of them. They assigned widows to a living male... ...At no time were they having sex with these extra wives, it was a way to survive and support these families. You sicken me that you would say things like you have.
Economic issues (even those that involve foreign countries) are typically discussed in economic/domestic policy debates, not debates over foreign policy issues.Raistlin, are you really naive enough to believe we will handle the 750 BILLION bailout on our own? Hello? The Iraq war cost less than that and we still had to finance it through.....CHINA!
That's right folks, even if the government funds the entire 750 billion on their own, which they won't (they will get some banks and other foreign investors to buy up some assets also) then we will need to do it through other countries to finance it in the meantime.
So obviously it's fair game in foreign policy
My 1,000th post was about Michael Jackson.
And "typically" we usually handle economic organizational and regulation issues on our own, except when we can't pay for them by ourselves.
You saw the rampant inflation we went through when China decided to start cashing in their war bonds early in 2006, do we want the same thing by 2012? Jesus Christ that would be worse than not fixing the bailout....
This is clearly a foreign policy issue since the government does not have ANY extra money at all (we are in a deficit and have a huge national debt which George Bush added a whole third onto), let alone an extra 750 billion dollars!!!
LMAO, I guess Brigham Young shlt those 56 kids of his own out of his ass.-Originally posted by DUI: When Mormons practiced polygamy, at the time Mormons were being killed. Because of this many of the males were killed leaving women and children without a male to take care of them. They assigned widows to a living male... ...At no time were they having sex with these extra wives, it was a way to survive and support these families. You sicken me that you would say things like you have.
I disagree; our financial system has been globalized for quite some time and many aspects of our economy involve foreign countries - yet economic issues (even those that involve other countries) are still the purview of economic/domestic policy debates and not foreign policy debates.And "typically" we usually handle economic organizational and regulation issues on our own
My 1,000th post was about Michael Jackson.
When was the last time China or Brazil or Russia had a vote on our yearly budget or had a say in the choice of the SEC and FTC chairs? Even economic organizational issues that have global effects and are passed as domestic legislation are usually decided completely by us with very little outside input.
HOWEVER, you are talking about a bankrupt nation. Given that Congress will almost certainly go through with this disastrous bailout, the main issue for debate is who will we get the money from, which is ONLY a foreign policy issue and completely within the bounds of that discussion.
There isn't a more important foreign policy question right now except possibly nuclear proliferation and climate change.
LMAO, I guess Brigham Young shlt those 56 kids of his own out of his ass.-Originally posted by DUI: When Mormons practiced polygamy, at the time Mormons were being killed. Because of this many of the males were killed leaving women and children without a male to take care of them. They assigned widows to a living male... ...At no time were they having sex with these extra wives, it was a way to survive and support these families. You sicken me that you would say things like you have.
Never... that is not what I meant when I referred to globalization.When was the last time China or Brazil or Russia had a vote on our yearly budget or had a say in the choice of the SEC and FTC chairs?
My point is a simple one - although many of our economic issues involve foreign nations, these issues are still discussed in economic/domestic policy debates and not in foreign policy debates.
Sure, but it is still an economic issue and economic issues (even those involving foreign countries) are subject matter for economic/domestic policy debates, not foreign policy debates.Given that Congress will almost certainly go through with this disastrous bailout, the main issue for debate is who will we get the money from
I disagree, obviously with the premise, but with the assertion as well... I would rank the Iraq War, the war on terrorism, etc. as the most important foreign policy issues on the table. The press is only downplaying Iraq because things have been going well there... if that wasn't the case, the press would still be portraying the Iraq War as the issue of the day.There isn't a more important foreign policy question right now except possibly nuclear proliferation and climate change.
My 1,000th post was about Michael Jackson.
They've already said they don't need Obama nor McCain to help out, and they don't want to turn this into a presidential thing. McCain doesn't know **** about the economy, how do you think he's going to help? Obama was in Washington at the same meetings as McCain on the Wall St issue, and yet Obama can still make time to have one debate.
Latest poll shows Obama is 9 points ahead.
If Obama is a phenomenal liar, then McCain is super-mega-phenomenal liar out of this world.
edit: Oh, and it looks like they WILL be debating today.
Hey Raistlin, did you just hear Jim Lehrer? He said foreign policy includes the "global financial crisis."
LMAO, I guess Brigham Young shlt those 56 kids of his own out of his ass.-Originally posted by DUI: When Mormons practiced polygamy, at the time Mormons were being killed. Because of this many of the males were killed leaving women and children without a male to take care of them. They assigned widows to a living male... ...At no time were they having sex with these extra wives, it was a way to survive and support these families. You sicken me that you would say things like you have.
The economy also happened to be the main topic for about half of the debate.
Better contraceptives will control population only if people will use them. A nuclear holocaust can be prevented only if the conditions under which nations make war can be changed. The environment will continue to deteriorate until pollution practices are abandoned. We need to make vast changes in human behavior.
-- B.F. Skinner
There are only two possibilities here - either Jim Lehrer shares your misconception about the time and place to discuss economic issues, or he is playing fast and loose with his role as host in order to do Obama a huge favor (I will explain what I mean by that in a moment).Hey Raistlin, did you just hear Jim Lehrer? He said foreign policy includes the "global financial crisis."
It is undeniable that tonight was not the time to discuss the economy. Fact - there is an economic and domestic policy debate yet to come. Fact - tonight was the foreign policy debate, which is distinct from the economic and domestic policy debate. Fact - we are not supposed to turn the foreign policy debate into an economic debate (in addition to the already scheduled upcoming economic debate, causing us to have two economic debates and no full-fledged foreign policy debate) simply because an economic issue involves foreign countries. Most economic issues involve foreign countries - they are still discussed at the economic debate, not the foreign policy debate. It really couldn't be more simple. Economic issues are discussed during the economic and domestic policy debate, regardless of whether they involve other countries in addition to our own (and they usually do). They are not discussed at the foreign policy debate.
Lehrer turned literally half of this debate, which was supposed to cover important foreign policy matters, into a debate about the economy. THERE IS A SEPARATE DEBATE FOR THAT. Now instead of one debate about foreign policy and one about the economy, we are having 0.5 debates about foreign policy and 1.5 debates about the economy.
Why do I say that he did Obama a favor? Well, what a coincidence - foreign policy is McCain's strong suit, while the economy is (ostensibly) Obama's. What could benefit Obama more than turning half of the foreign policy debate into an economic discussion?
Foolish me for assuming that the economic discussion would take place at the ECONOMIC debate and that the foreign policy debate would focus entirely on foreign policy discussion rather than being split half and half in a manner that blatantly benefits Obama.
Foolish, foolish me. And I mean that.
I don't see how this proves me wrong, however. The fact remains that tonight was the foreign policy debate, distinct and separate from the economic/domestic policy debate, and that Obama knew this when he made the statement which I referred to as a lie. That is exactly what it was - when he made the statement, Obama knew that this was a foreign policy debate and had no way of knowing that Jim Lehrer would turn half of the foreign policy debate into an economic discussion.
And as I type this, the post-debate coverage on the same network (abc) indicates that they understand that tonight was not intended to be the night for economic discussion:
"This was supposed to be a debate about foreign policy, but right off the bat..." [they go on to discuss Lehrer's directing the debate towards economic issues for 45 minutes, literally half the debate].
It seems they understand, as I do, that the economic discussion usually happens at the ECONOMIC/domestic policy debate, not at the foreign policy debate.
My 1,000th post was about Michael Jackson.
I'm inclined to agree with Raistlin. This was not the debate to talk about the economy.
That's right, the Founders actually put a price tag on coming to this country: $10 per person. Apparently they felt like there was a value to being able to live here. Not anymore. These days we can't ask anything of immigrants -- including that they abide by our laws." - Glenn Beck on Article I, Section 9, Clause I of the U.S. Constitution, from Arguing With Idiots, Page 278
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