McCain is right that the country is facing a historic economic crisis, but canceling his debate with Obama on Friday?
He says it's time for both parties to come together to solve the economic crisis, but it sounds like he has cold feet.
Don't know about you, but I was figuring that the debate would be a chance for the candidates to tell us more about their thoughts on the issue, at a time when the American public desperately needs insights and guidance.
Obama is reported to still want to hold the debate, and a statement is expected from his campaign shortly. Meanwhile, here's what Obama is saying about the financial meltdown:
"The era of greed and irresponsibility on Wall Street and in Washington has created a financial crisis as profound as any we have faced since the Great Depression.
Congress and the President are debating a bailout of our financial institutions with a price tag of $700 billion or more in taxpayer dollars. We cannot underestimate our responsibility in taking such an enormous step.
Whatever shape our recovery plan takes, it must be guided by core principles of fairness, balance, and responsibility to one another.
Please sign on to show your support for an economic recovery plan based on the following:
• No Golden Parachutes -- Taxpayer dollars should not be used to reward the irresponsible Wall Street executives who helmed this disaster.
• Main Street, Not Just Wall Street -- Any bailout plan must include a payback strategy for taxpayers who are footing the bill and aid to innocent homeowners who are facing foreclosure.
• Bipartisan Oversight -- The staggering amount of taxpayer money involved demands a bipartisan board to ensure accountability and oversight.
The failed economic policies and the same corrupt culture that led us into this mess will not help get us out of it. We need to get to work immediately on reforming the broken government -- and the broken politics -- that allowed this crisis to happen in the first place.
And we have to understand that a recovery package is just the beginning. We have a plan that will guarantee our long-term prosperity -- including tax cuts for 95 percent of families, an economic stimulus package that creates millions of new jobs and leads us towards energy independence, and health care that is affordable to every American.
It won't be easy. The kind of change we're looking for never is.
But if we work together and stand by these principles, we can get through this crisis and emerge a stronger nation."
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