Wednesday, September 24, 2008

McCain Suspends Campaign to Act on Economy, Obama Sees No Need

While congress debates the largest economic bailout in history, Obama tells CNN he, "sees no need to respond" to the economic crisis. The statement came after John McCain suspended his campaign and asked to reschedule Friday's debate so that he could return to Washington to take action to try and prevent economic disaster.

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.

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.

In a time of crisis we expect our leaders to rise to the occasion and take action. Obama seems fine with avoiding the issue altogether, to avoid having to take an opinion one one or the other, to fail to lead.

UPDATE 3:03 PM CST: "The Obama campaign said in a statement that Obama had called McCain around 8:30 a.m. Wednesday to propose that they issue a joint statement in support of a package to help fix the economy as soon as possible. McCain called back six hours later and agreed to the idea of the statement, the Obama campaign said. McCain's statement was issued to the media a few minutes later," reports Breitbart. Sure they did. You can add this latest incident to the list of poor decisions and outright lies from the Obama campaign.

UPDATE 3:19 PM CST: "Obama supporter and chief debate negotiator Rep. Rahm Emanuel, D-Ill., told MSNBC that "we can handle both," when asked about his reaction to McCain's call to postpone the first debate because of the administration's bailout plan." Sure you can handle both. That's why Obama hasn't gone to Washington to vote, to speak, he hasn't even got an opinion on the bailout, he's "holding off". The Obama Spin Doctors are in full damage control mode now. They aren't even giving the same story to different media outlets.

UPDATE 3:45 PM CST: Democrats rushing to damage control. HuffPo proclaims nothing changed on economy in last 48 hours except polling. However, JP at the Donkelphant correctly points out financial experts are now predicting cash will be dried up in 5 to 10 days if the fed can't break the deadlock in Washington.

UPDATE 4:59 PM CST: Harry Reid says, "thanks, but no thanks" to McCain. "This is a critical time for our country," says the Reid statement. "While I appreciate that both candidates have signaled their willingness to help, Congress and the administration have a process in place to reach a solution to this unprecedented financial crisis. I understand that the candidates are putting together a joint statement... But it would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation’s economy. If that changes, we will call upon them. We need leadership; not a campaign photo op. If there were ever a time for both candidates to hold a debate before the American people about this serious challenge, it is now.” Yes, Mr. Reid, you are correct. Who in their right mind would expect the people who want to lead our nation for the next 4 to 8 years to have any input into an economic bailout package that will affect our citizens for generations to come?


Anonymous said...

Actually, that seems like a fairly reasoned response from Reid. Both Obama and McCain are in a unique position as nominees for their respective parties while still nominally sitting US Senators. As the election is at the forefront of everyone's mind, anything these candidates do is viewed through the lense of election politics.

Unfortunately Senator McCain has less control over setting his party's agenda and drafting policy as he's hampered by the fact the President is still setting the Republican's agenda.

His move today seems to be an attempt to have more control over the policy of the party and also has the additional benefit of attempting to back Obama into a damned-if-you-do (weak; not a leader)/damned-if-you-don't corner (uninterested/"elitist").

My concern is how do you separate McCain the Senator doing his duty from McCain the candidate grandstanding for the news cycle? It wasn't too terribly long ago Republicans were up in arms over Obama acting too "presidential" before his time.

I have no idea what the right answer is here. The waters are very muddy. I still have trouble wrapping my mind around $700 billion.

I do hope both Senators return to Washington to cast their vote for or against whatever legislation is hammered out.

Also, can you please source you're "no need to respond" partial quote? I looked on CNN and didn't find it. Thanks.

Anonymous said...

I saw Obama's response last night and thought to myself: isn't this what we the taxpayers pay these baffoons for?

Someone needed to slap the hell out of both of them and demand that they get this damn problem fixed and worry about the election next week.