mccain begs off

are American voters as stupid as McCain hopes they are?

McCain Suspending Campaign, Asks for Debate Delay
Updated 3:12 p.m.
By Michael D. Shear and Robert Barnes
NEW YORK -- Republican presidential nominee John McCain this afternoon said he would suspend his presidential campaign tomorrow to return to Washington and help reach agreement on a plan to solve the financial crisis on Wall Street, and said he wants to delay Friday night's presidential debate.

"It has become clear that no consensus has developed to support the Administration's proposal,'' McCain said in a brief statement to reporters. "I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.''

McCain said he is calling on President Bush "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."

Obama campaign spokesman Bill Burton released a statement reacting to the news.

"At 8:30 this morning, Senator Obama called Senator McCain to ask him if he would join in issuing a joint statement outlining their shared principles and conditions for the Treasury proposal and urging Congress and the White House to act in a bipartisan manner to pass such a proposal," Burton said. "At 2:30 this afternoon, Senator McCain returned Senator Obama's call and agreed to join him in issuing such a statement. The two campaigns are currently working together on the details."

McCain's remarks follow:

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's 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.

wtf are you talking about, McG? If Obama begged off a foreign policy debate, you would be all over him as 'weak.'

C'mon. There's no reason for McCain to do this, other than fear.

Cycloptichorn

There's no reason for McCain to do this, other than fear.

There's no reason for McCain to do this, other than fear.

Wait ... Wait

What's changed today in the financial crisis other than John McCain's poll numbers tanking? Isn't this the campaign equivalent of faking an injury when you're down late in the 4th quarter? Note too that McCain was in the mist of debate prep when he made this decision.

Look at what appears to have happened. Obama reached out to McCain privately to agree to a shared set of bailout principles. McCain went off the handle again and tried to use the crisis as a way to call off the debates.

--Josh Marshall