John McCain's Remarks
on the Economic Crisis
New York Hilton
September 24, 2008
approx. 2:40 p.m.
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
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
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.
McCain read the statement from a teleprompter...these seem to be the
prepared remarks; McCain hewed fairly close to them.
STATEMENT from Commission on
Presidential Debates via PRNewswire
OXFORD, Miss., Sept. 24 /PRNewswire/ -- "The Commission on Presidential
Debates (CPD) is moving forward with its plan for the first
debate at the University of Mississippi in Oxford, Miss. this Friday,
September 26. The plans for this forum have been underway for more than
year and a half. The CPD's mission is to provide a forum in which the
American public has an opportunity to hear the leading candidates for
president of the United States debate the critical issues facing the
nation. We believe the public will be well served by having all of the
debates go forward as scheduled."
JOINT STATEMENT from
Nader and Barr campaigns
Statement from Independent Presidential Candidate Ralph Nader and
Libertarian Presidential Candidate Bob Barr on McCain's Call to Delay
The fact that a candidate can call for changing the date of the debate
only two days before it is scheduled indicates how easy it would be for
the candidates to also call for the inclusion of the leading third
party and independent candidates, which would bring fresh ideas to the
table on how our country can truly tackle this heavy challenge.
from Senate Majority Leader Harry Reid
Reid: Debate Should Take Place As Scheduled - "We Need Leadership; Not
A Campaign Photo Op"
Majority Leader Harry Reid made the following statement today in
response to the McCain campaign’s call for postponing Friday’s
“This is a critical time for our country. 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 at Senator Obama’s suggestion. 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.”
PRESS RELEASE from Nader for
MCCAIN'S MOVE TO POSTPONE DEBATE 'POLITICAL STUNT;' SAYS MCCAIN TO
BLAME FOR FINANCIAL CRISIS
Senator John McCain's decision to suspend his campaign and
participation in the first presidential debate is pure and simple
showboating. The Washington DC bailout by Bush and his Congressional
allies of the Wall Street crooks and speculators is not dependent on
Senator McCain's return to Washington.
He has been an advocate of the deregulation that caused this debacle
and offers nothing significant to address it. However, tens of millions
of Americans depended on Senator McCain to show up at Friday's debate
in Old Mississippi.
They expected him to do so and have arranged their plans to watch him
interact with Barack Obama. By turning his back on at least 50 million
American voters anticipating Friday's debate, he has dishonored his
commitment and undermined the respect which he hoped the American
people would accord him during his presidential campaign.
I urge him to restore his honor and self-respect by ending this
political stunt and maturely fulfilling his commitment on the
presidential debate stage this Friday.
Should he choose to maintain his present, impulsive course and leave an
empty chair on the stage, I would be most pleased to take his place as
the number three Presidential candidate in the race.