Wednesday, September 24, 2008

McCain Suspends His Campaign and Delays Debate

As President Bush prepares to address the nation tonight in a speech dealing with the serious financial crisis facing the country, Republican Presidential hopeful John McCain says he’s suspending his campaign to return to Washington to deal with the crisis. He’s asked President Bush to appoint a bi-partisian panel to work on a bailout package.

McCain has also asked Barack Obama to delay the first presidential debate scheduled for Mississippi on Friday so they both can work on the market turmoil.

Earlier today in Dunedin, Florida Barack Obama accused McCain of being slow to speak out against huge salaries for Wall Stree executives.

“Suddenly McCain is talking like a hard-charging populist. I sure wish he joined me when I blew the whistle on the fired CEOs of Fannie Mae and Freddie Mac who tried to walk away with golden parachutes.

Bush’s prime-time talk is a dramatic gesture of last resort. The White House says if the government doesn’t take “decisive and bold action on a rescue package, the country could face financial calamity on main street, not just Wall Street.

Senate Majority Leader Harry Reid (D-NV) has been criticized President Bush this morning, saying, “The President has been absent from what well may be the most important debate on economic policy in a generation.”

House Republicans met with treasury secretary Henry Paulson and Fed Chairman Ben Bernanke. House GOP Leader John Boehner (R-OH) is optimistic that republican and democrats will come together and devise a plan that will best service the American people.

“I do think that congress has a responsibility to act. And, I’m hopeful in the coming days we’ll be able to come together around a plan that will in fact stem this crisis,” Boehner said.

To read more about the possibility of “landing safely” read Heath Haussamen’s comments here.

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