Posted on 09/24/2008 12:31:39 PM PDT by Reaganesque
MCCAIN: 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' 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.
Developing...
Good move, though the press is trying to make it look like it was Obama’s idea.
Seems like a “Hail Mary” pass to me.
Perfect move! McCain leading on this issue will prove his metal.
Having said that, what is the big hurry on this? Credit is not going to dry up and people will still be able to buy homes. mcCain makes it sound like franny and freddy were the only home loan institutions out there or something.
Businesses will not be able to pay their employees? How so?
This sounds very trumped up. If things were that desperate, Congress would take the time to find the money elsewhere, like removing it from the Pork Barrel, or cutting off a bit of foreign aide, or welfare or handouts to illegals.
McCain was just on Fox.
http://elections.foxnews.com/2008/09/24/mccain-suspends-campaign-to-help-with-bailout/
John McCain announced that he will suspend his presidential campaign on Thursday to return to Washington to help with bailout negotiations. He urged his opponent Barack Obama to do the same.
The Arizona senator also asked the Presidential Debate Commission to postpone Friday’s scheduled debate with Obama so that he can work on the financial crisis bailout plan now on Capitol Hill.
“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,” McCain said.
McCain said he will leave the campaign trail after delivering an address to former President Clinton’s Global Initiative. He also canceled a Wednesday afternoon taping of The Late Show With David Letterman show and a Thursday interview with FOX News.
Obama can debate an empty chair or better yet McCain can have Sarah Palin debate him while John McCain takes care of the business of the country....
But, But, Barry was studying so hard foreign affairs for Fri.
McCain, like Obama, is clueless on the economy. America is safer when they are out campaigning (they can’t do any damage out there).
McCain talking about the economy scares me more than the credit crisis.
No matter who wins, it is going to be a rough next four years.
WRONG! Credit has dried up and is going to dry up even more.
That's what the crisis last Thurday was about. 1/8 of all money markets were just about to be cashed in before Paulson stepped in and stopped it.
Credit is going South FAST unless something is done now.
People forget that Sen. McCain graduated from Annapolis and learned strategy and tactics from his Admiral father and Admiral grandfather. He also has some smart cookies running his campaign.
His latest tactical move to “suspend his campaign” to focus on “solving the economy” in the Senate has Obama on his heels. McCain can take the high road, while Obama searches for a way to exploit the situation.
The original "Hail Mary" pass worked.........
I think he turned it from an issue to a crisis. Must not have read Mark Stynes column yesterday.
"You cannot:
- bring about prosperity by discouraging thrift;
- help the wage earner by pulling down the wage payer;
- further the brotherhood of man by encouraging class hatred;
- help the poor by destroying the rich;
- keep out of trouble by spending more than you earn;
- establish security on borrowed money;
- build character and courage by taking away a person's initiative & independence;
- help men permanently by doing for them what they could and should do for themselves."
These words, often erroneously attributed to Abraham Lincoln, were from Rev. Wm. J. H. Boetcker in "Inside Maxims," in the Year 1916 (see Harper's Magazine, May, 1950, "Lincoln Never said That").
Many small business depend on money market funds for payroll. Unless something is done, and quickly, a big chunk of that money is going away.
Couldn’t he have just announced a return to Washington? A notice that he is “suspending the campaign” sounds like his organization won’t be working for his election.
Now THAT last idea would truly be priceless. I’ll bet she’d do a WONDERFUL job, too!
To tell you the truth though - I’m not liking how McCain is joining in with the “gotta get ‘er done quick” thinking currently going on in Washington.
Release the Pit Bull
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