Mccain Suspends Campaign Asks Obama To Do The Same

Today, CNN reports that Sen. John McCain announced he was suspending his presidential campaign in order to deal with the crisis affecting the financial markets. He is asking Senator Barack Obama to do the same. This includes canceling or postponing Friday’s debate. The Associated Press reports that Senator Obama does not feel that this is notable. In a video statement Senator McCain states that this situation is a crisis comparable to 9/11 and that quick action is necessary in order to avoid the US markets going into financial collapse.

Is this political grandstanding or does he truly believe this? If you look at the recent polls reported by the Washington Post, McCain is lagging when it comes to the economy. As a voter, this bailout scares me.

Giving Paulson carte blanche with $700 billion dollars is the absolute wrong thing to do. We stand to lose more if Congress gets this bailout wrong than we do if we unbiased let the market correct itself. Screaming “crisis, pass it fast” is how the Patriot Act was rammed down our throats and in a single bill, we lost more of our freedoms than at any other time in American history.

We saw it again when there was a “clear and present danger” in Iraq, and we over through a sovereign government with no certain plan as how to manage it or eventually exit. We cannot afford to let history repeat itself. Get a opinion, but take sometime to come up with one that works. It has to have balance of power with that money. No company should receive a bailout without Congressional approval. Congress has to conclude these knee-jerk reactions and instead come up with a comprehensive plan that makes sense. Maybe it is time to let the market correct itself.

Should Obama suspend his campaign? Probably not. When McCain says suspend his campaign does he mean no ads, or does he want to delay the debate because his numbers are bad. To me, it looks like the latter. A comprehensive plan cannot be put together and passed by Friday. I would love to eye the debate. It would give both candidates a chance to put forth their thoughts on how to solve this financial mess to the American public.

Sources:

CNN: McCain Suspends Campaign, Obama Plans to Continue

Yahoo: Obama Rejects McCain’s Call to Delay Debate

Washington Post: Economic Fears Give Obama Clear Lead Over McCain in Polls

McCain Suspends Campaign – video statement

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