September 24th, 2008
08:45 PM ET
6 years ago

McCain and Obama issue joint statement on economic crisis

Sens. Obama and McCain issued a rare joint statement Wednesday about the financial and economic challenges the country is facing.
Sens. Obama and McCain issued a rare joint statement Wednesday about the financial and economic challenges the country is facing.

(CNN) - Presidential hopefuls John McCain and Barack Obama issued a joint statement Wednesday night on the economic crisis stating "now is a time to come together - Democrats and Republicans - in a spirit of cooperation for the sake of the American people."

Released about 15 minutes before President Bush's scheduled televised address on the economy, the joint statement labeled Bush's proposed economic bailout plan as "flawed."

"The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail," the statement said.

In a separate statement, Obama outlined five principles he said were necessary for the proposal.

The principles included creating economic plan that helped "millions of families facing foreclosure" and not just Wall Street, creating "an independent, bipartisan board to ensure accountability and complete transparency" and protecting taxpayers by creating a economic plan that did not include earmarks.

"This plan cannot be a welfare program for CEOs whose greed and irresponsibility has contributed to this crisis," Obama's statement said.


Filed under: Candidate Barack Obama • Economy • John McCain
soundoff (200 Responses)
  1. SEA

    Watch some of Barack Obama's key points show up in John McCain's statements and stump speeches within 24-hrs; "Teacher, teacher, he's looking at my paper".

    September 24, 2008 09:07 pm at 9:07 pm |
  2. Sian

    There needs to be some provison for CEO bonuses not just salary limitations. Fannie Mae, PHEAA, Sallie Mae, and Hewlett Packard just to list a few examples of corporate greed run rampant

    September 24, 2008 09:09 pm at 9:09 pm |
  3. Janice Il

    McCain was on his way when he got the invitation, can't blame him if my name was on this I'd be there too. Early bird gets the worm!

    September 24, 2008 09:10 pm at 9:10 pm |
  4. S. Diva

    This is just horrible!
    Bush just wants to try to help McCain
    chicken his way out of the debate!!

    And I STILL say NO TO THE BAIL OUT!!!!!

    September 24, 2008 09:10 pm at 9:10 pm |
  5. Paul, Tampa

    A joint statement written entirely by Obama. Nice!!

    September 24, 2008 09:11 pm at 9:11 pm |
  6. Wendy in NC

    Wow, now the bailout has been renamed the Economic Rescue – now THAT is putting lipstick on a pig!

    Thank you, Sen. Obama, for not falling for the latest McCain pathetic ploy and standing your ground. You show strength and leadership.

    September 24, 2008 09:12 pm at 9:12 pm |
  7. kris in RM,CA

    After listening to the President the answer is NO.
    No bail out at the taxpayer expense. Find another way.

    September 24, 2008 09:13 pm at 9:13 pm |
  8. linda from South Dakota

    you get em , obama,,, make sure they dont bail -out the CEO's and presidents that made this problem,, they need to pay it off like we do,, one day at a time,,,, you go obama,,,,,,/,,biden,,08 and beyond

    September 24, 2008 09:13 pm at 9:13 pm |
  9. Nik

    According to today's sequence of events, McCain attempted to stab Obama in the back. It backfired! Most of the sentiment is that McCain pulled a stunt. He was hoping to look like a "maverick leader".

    IT DIDN'T WORK, MCCAIN!

    September 24, 2008 09:14 pm at 9:14 pm |
  10. BS

    Senator McCain has finally admitted that there is a financial crisis after Bernanke blew the horn in Jerusalem. He has seriously compromised himself as a candidate for the Republican party.

    Another reason why Al Gore should of won.

    Hopefully, McCain,72, will retire now.

    September 24, 2008 09:15 pm at 9:15 pm |
  11. Jerry from Oregon

    Good to hear that both men who seek to be President can calm down and realize that both want the best for this country and issue a joint statement

    September 24, 2008 09:17 pm at 9:17 pm |
  12. michael minorgan

    Why cant you debate MCC? it takes 90 minutes and the American peoiple deserve to hear your views..especially now..get on your plane and attend...cant you spit and chew gum at the same time???????? if by God you are president you may have to handle many more than two things at one time...show some guts and leadership and debate and let us hear your views!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

    September 24, 2008 09:17 pm at 9:17 pm |
  13. Kim (Obama/Biden 08')

    I am pleased that they have released this joint statement. However, they have true differences that the American people deserve to hear about. For months now, Senator McCain has been harping the Senator Obama will not have "town hall meetings" with him. Now he claims he will not come to the debate. I believe he is using this situation as a scapegoat to not address the issues and also purposely postpone Palin's attempt to debate with Biden. Give me a break , Senator McCain you claim to be such a hero - so stop acting like a coward now!

    September 24, 2008 09:18 pm at 9:18 pm |
  14. aware

    Obama is a follower not a leader! He is for Obama first not America first!

    This is understandable because he is from a dysfunctional family but that doesn' mean you should vote for the narcissisistic guy! :(

    Vote for McCain/Palin 08! They are the authentic reformers who put America first! :)

    September 24, 2008 09:19 pm at 9:19 pm |
  15. Tom in Delaware

    Allright 'Bots, let's try to come together on this.

    Hurray for both of the Candidates, and the United States of America.

    September 24, 2008 09:22 pm at 9:22 pm |
  16. Another Former Republican

    I have voted republican my entire life. But this year I am ASHAMED of the Republican Ticket. Barack Obama sounds Presidential everyday. McCain comes up with stupid comments and outrageous lies everyday. And Palin is a disgrace, there is no way she should even be on the ticket. I really don't see how McCain/Palin can get a SINGLE vote. People must be out of their minds to even consider them. I can only hope that there are many, many more Republicans and Independents that can see thru their sham of a campaign.
    GO OBAMA/BIDEN

    September 24, 2008 09:23 pm at 9:23 pm |
  17. Palin for President

    Bye Hillary, bye Pumas, Palin will win this election for McCain without your help. No more kissing up to screaming clinton supporters.

    Palin 2012

    September 24, 2008 09:27 pm at 9:27 pm |
  18. Woman 4rm CA for Obama

    Obama is going to rip McCain alive. lol. This whole debate is going to be so good. Obama doesnt have to use negativity like McCain and he still looks better

    September 24, 2008 09:27 pm at 9:27 pm |
  19. JPM

    We needed calm and to pay attention to what Pres. Bush was saying in his address. Thanks McCain – for being so selfish that you just had to pull a stunt like this put the news focus on you....and off your campaign manager Davis and your falling poll numbers! You selfish, selfish man!

    September 24, 2008 09:28 pm at 9:28 pm |
  20. Barney

    I'm voting early for Obama and then my TV goes dead until the election. It's over for McCain to even redeem himself at this point.

    He's lied, stabbed Obama in the back at every turn, and used every devious method he could to deceive the public. Even put a subpoena-dodger on his ticket. NO MORE.

    September 24, 2008 09:32 pm at 9:32 pm |
  21. The Media is the Enemy

    BUSH HAS LIED BEFORE, WHY SHOULD I BELIEVE HIM NOW?!? HE TRIES TO LOOK SINCERE AND CONCERNED, BUT ALL I SEE IS THE BLUSTERER WHO LIED THROUGH HIS TEETH ABOUT WMD'S. WHERE WAS HE WHEN THIS WAS HAPPENING? NOW, A WEEK LATER, WHEN HIS CRONIES FAIL TO CON THE AMERICAN PEOPLE OUT OF 700BILLION HE COMES OUT OF THE WOODWORK. THEY CALL IT A BAIL OUT, I CALL IT REPUBLICAN SEVERENCE PAY!!! ALL I SEE IS A BEADY EYED LIAR. I WOULDN'T BUY A USED CAR FROM THIS LITTLE MAN.

    September 24, 2008 09:32 pm at 9:32 pm |
  22. Shirley-Ohio

    THIS IS THE ONLY THING THEY NEEDED TO DO. THERE WAS NO NEED TO CANCEL ANY DEBATES OR STOP CAMPAGINING. THIS IS RIDICULUOUS.

    September 24, 2008 09:32 pm at 9:32 pm |
  23. Interesting

    I guess Obama got his joint statement in the evening after he put his foot in his mouth.

    "If they need me, they can call me" by Obama

    Then President Bush (under McCain advisement) SUMMONED Obama to get to work as a U.S. Senator for the state of Illinois instead of vacationing in Florida for debate prep on foreign policy.

    Guillani said it right. Obama is a celebrity Senator. Period.

    Not ready to lead the U.S. in CRISIS.

    pumA 2008!

    September 24, 2008 09:33 pm at 9:33 pm |
  24. KA

    What a joke Bush is, is he able to expense his gas purchases? Is he also paying the same interest rate we are? How can someone be so ignorant. George W. Bush proves we could have a blind, deaf, pulse-less person as president and do a better job with leading our country. When was the last time one of our president's had to deliver such a negative speech to the country?

    September 24, 2008 09:35 pm at 9:35 pm |
  25. Soldier 4 OBAMA

    OBAMA is running circles around McCain. McCain and his band of Good Ole boy did not want to cancell the debate 3 weeks ago when they were ahead. He wanted to do town halls with OBAMA, not a National Election Debate that we have been waiting for for 1.5 years is about to get going, he want to push it back. We don't need a President who can't multi tasked or many more than one crisis at a time. This is the perfect time and McCain CAMPAIGN like BUSH is OVERWHELMED. OBAMA is going march across AMERICA like a TSUNAMIS, he is going to win all Southern States except for Kentucky, Kansas, Oklahoma, Alabama it is going to be OBAMA 431 ELECTORAL VOTES: MCCAIN 57

    September 24, 2008 09:37 pm at 9:37 pm |
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