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Obama rejects McCain's call to delay debate
(Agencies)
Updated: 2008-09-25 06:51

Obama said he suggested they first issue a joint statement showing bipartisanship.

"When I got back to the hotel, he had gone on television to announce what he was going to do," Obama said.

McCain said he would return to Washington after addressing former President Clinton's Global Initiative session in New York Thursday. He canceled his planned appearance Wednesday on CBS' "Late Show With David Letterman" program and a meeting with the prime minister of India.

McCain called Senate Democratic Leader Harry Reid and House Speaker Nancy Pelosi to propose that joint meetings with Obama and congressional leadership be held quickly, according to leadership aides. Reid spokesman Jim Manley said Reid responded by reading McCain his public statement, in which he said it would not be helpful to have the candidates come back during negotiations and inject presidential politics.

The Commission on Presidential Debates and the University of Mississippi, the site of the forum, said they were moving forward with plans for the debate.

McCain's running mate, Sarah Palin, was canceling her limited campaign events. Palin said in an interview with CBS Evening News Wednesday that the country could be headed for another Great Depression if Congress doesn't reach a solution.

McCain adviser Steve Schmidt would not say how long the suspension would last but indicated it would go through the weekend, in order to reach agreement on a deal before the markets open on Monday.

McCain has struggled with how to handle the financial situation, which he might escape with modest political damage if he and Obama could reach some type of accord on the matter.

Scores of congressional Republicans have hinted this week they may oppose the proposed $700 billion bailout even though it is Bush's priority. Senate Majority Leader Harry Reid pointedly suggested that Democratic lawmakers could not be expected to back it if McCain did not publicly do so.

That leaves McCain with two unpalatable choices. He can oppose a major Republican initiative that the administration says is essential to preventing a full-blown recession, and risk heavy blame if the prediction comes true. Or he can vote for an extraordinarily costly bailout, which many Americans seem to resent, just when polls show him falling farther behind Obama.

Several GOP lawmakers and strategists said they see no way that McCain can oppose the main elements of the bailout plan and present himself as a bold leader. He must say, "we need to get this done for the future of our country," said John Feehery, a former aide to top Republican lawmakers. "Country first," Feehery said, noting McCain's campaign slogan.

But McCain might reap few political rewards for such a move.

Rep. Tom Cole said he has not found any Republican colleagues who say the proposed bailout "is popular in their district."

Of course, Obama also risks angry voter reactions if he supports the bailout plan. But he could frame his stand as bipartisan statesmanship, whereas McCain's vote could be spun as another example of his siding with Bush, a major impediment to his campaign.

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