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.
(YWN Desk – NYC)
Join the official YWN WhatsApp status
9 Responses
McCain is very savvy politically. First he picks Palin, now this.
so obama will come too and vote present as always
I don’t like Obama on the issues. I don’t like McCain on the person.
This smells like the political move it is. If Obama declines, McCain accuses him of promoting partisanship. McCain is no economic genius (neither is Obama) that he needs to be in DC to figure this out. Further, his plan seems to be promoting the politicians working it out behind closed doors and then letting the public in on it. I want more transparency than that.
The candidates should shift the focus on the debate away from foreign policy and make it a debate, or explanantion of their ideas, on the Wall Street scandal/problem and how they will fix it.
I’m not voting for Obama, but McCain has not done a darn thing to make me want to vote for him.
He’ll fix the problem by announcing once again that “The fundamentals of our economy are strong,” and then the magic straight talk express bus will release $8 billion into the failing economy, while simultaneously lowering taxes. Now that’s a leader.
If they wanted to take care of this without leaving us with a One Trillion Dollar bill, they should suspend some of the crazy taxes these companies have to pay. Suspend some of the taxes for a year and you will see what happens. I’ll bet the companies will do the same thing they always do when they have money to spend which is SPEND it on hiring etc.
This would be better than printing more money & giving it to cos that blew it in the first place.
#7,
The number one expense any business has is taxes. The biggest cost for most families each year is taxes. People have become so ingrained with the idea that taxes are just part of the system that most don’t even look at it this way. If taxes are lowered, all businesses will automatically become much, much more prifitable. New and existing industries will be able to thrive and people would have akin to a tremendous increase in thier salaries and profit margins no matter what job or business they are in. Its not only the best thing for the economy, at this point in time, its the only good choice for the economy.
Under Obama, anyone making over $250,000 a year would, after all is said and done with all taxes, be keeping only 38 cents on the dollar he makes. A lot of people would not want to keep working for 38 cents on the dollar even if they are the “super rich”. They also won’t be good consumers which is the backbone of the whole economy. If people can’t keep thier own hard earned money, they won’t be willing to spend it on most items and services. Jobs will not be made available. There will be cutbacks etc, etc.
Of course the gov’t has to pay thier bills. On the other hand in a country with a super strong economy, we won’t need the gov’t to “take care” of us so much. We will all be more independent.
Isn’t independence a good compliment to liberty and freedom that this country is supposed to be so proud of?
McCain would not make a better impression with this strategy since Arizona is a financial mess, mostly due to the illegal Mexicans whom he would love to support via the McCain Kennedy Bill.
I can only assume if he wants taxpayers to foot the Mexican bills and college for their children that we should pay the bill for the corruption of these companies who would most likely treat most of us terribly if we were their customers.
What a choice! McCain who is proven to be bad and Obama who we suspect will be bad.
obama wants there to be a recession so he still has what to chirp on go obama for making politics come before americains