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. DWoods

    Bush and McCain are both hypocrites. You are just trying to find a way to take the attention off Obama. McCain wants to pretend to be a shining white knight saving the day. We can see straight through your small-minded tactic. And if you don't want to go to the debate, you send Palin and Obama send Biden. How about that?

    September 24, 2008 11:15 pm at 11:15 pm |
  2. glenn

    It is so sad to see a once dignified statesman such as John McCain sink to such a pathetic level. His decision to suspend his campaign is a purely political attempt to further manipulate voters in a time of financial crisis. I know many people will fall for this stunt but i hope people will see through this and vote for the only candidate that has acted presidential during this entire process. McCain and his Republican friends are at the root of this problem and now they expect to be able to make the right decision to correct it. Vote for Change.

    September 24, 2008 11:16 pm at 11:16 pm |
  3. Cam

    Scott L........are you really this ignorant?

    Obama suggested this idea to McCain, who was apparently too busy meeting with the stinking rich Hillary supporter whose only reason for hating Obama is his color. Then McCain promptly decided that he needs to shut down his failing campaign to get the news off of his lobbyist campaign manager, his disastrous VP pick, and his total lack of understanding of the economy.

    Let's put it this way: Bush would be a better republican presidential candidate right now than McCain, and that is truly sad.....

    September 24, 2008 11:17 pm at 11:17 pm |
  4. April Garlow

    Obama is just like the rest of the Democrats -good at symbolic gestures–like a joint statement–but he resists going back to DC to do some real work on a real problem.All through the summer McCain tried to get Obama to debate him, but Obama refused.Now during this economic crisis–"the debate" is all important, what a total lack of judgement about where his priorities lie.

    September 24, 2008 11:18 pm at 11:18 pm |
  5. Edwin, Fayetteville, NC

    Yes I agree lets VETO!!! Bush, The Bush administration started this mess 8 years ago and now they want to blame the Democrats.

    September 24, 2008 11:21 pm at 11:21 pm |
  6. Independent in NC

    Aren't the people on Capitol Hill supposedly the ones who got us into this mess? Why would anyone trust them to get us out of it then? This makes no sense. And the line about accountability is nuts – half the people who would be held accountable are friends of the candidates.

    September 24, 2008 11:21 pm at 11:21 pm |
  7. watch out Obama

    What a shame! See below.

    The story is all over Progressive Talk Radio today about the McCain campaign sending absentee ballot applications to registered democrats or people that have donated to Obama's campaign. These ballots are deliberately misleading and have postage paid return addresses that are for an election clerk that is outside of your city or town. What this will end up doing is either having your vote not counted, or if you return one of these, they will cite you for election fraud, saying that you already voted absentee. These ballots are only being sent out in 'purple states' and this is a big deal. This is called voter caging, and is a huge problem.

    The McCain campaign is stealing this election as we speak. Please get this information out to as many people as you can and tell anyone you know who has received one of these ballots that they need to contact their city election clerk or the supervisor of elections immediately. Also call the local media and let them know what is going on.

    The main stream media is never going to cover this so we have to depend on our ground campaign to get the word out to our voters.

    September 24, 2008 11:22 pm at 11:22 pm |
  8. Ken

    Scott, do you hear yourself speak or do you understand what you type. I see your brain is really been washed out on nonsense. Please use your common sense if you have one. What Magic has McCain done? A man that thinks the fundamentals of the economy is strong. Please tell me what has he done? What can he do if he goes to Washington tomorrow? Absolutely nothing. Paulson an economy expert (lets hope he is) has proposed 700B. All we hear is 700B. Where did this number come about? Will this number fix the problem? We don’t know. So if McCain shows up at Washington tomorrow, the deal will automatically get sealed? Please! A smart thing for him to do is stay away from Washington and let congress work. There are 98 members working on it, plus Bush is still in office, he should fix this mess.
    So what catch up is Obama playing? When you made arguments, please back them up with evidence. Just don’t speak out the hole. Frankly, I’m sick of stupid remarks and comments that people post on this great website that make no sense but repeat lines similar to that of irrational Bill O’Reilly. If the administration and the republicans actually did something when they were in congress (like having oversight and some regulations), we wont have this problem today. To prove this point, over country was in surplus in January 2001.

    September 24, 2008 11:22 pm at 11:22 pm |
  9. watch out Public. Here we go again !!!

    What a shame! See below.

    The story is all over Progressive Talk Radio today about the McCain campaign sending absentee ballot applications to registered democrats or people that have donated to Obama's campaign. These ballots are deliberately misleading and have postage paid return addresses that are for an election clerk that is outside of your city or town. What this will end up doing is either having your vote not counted, or if you return one of these, they will cite you for election fraud, saying that you already voted absentee. These ballots are only being sent out in 'purple states' and this is a big deal. This is called voter caging, and is a huge problem.

    The McCain campaign is stealing this election as we speak. Please get this information out to as many people as you can and tell anyone you know who has received one of these ballots that they need to contact their city election clerk or the supervisor of elections immediately. Also call the local media and let them know what is going on.

    The main stream media is never going to cover this so we have to depend on our ground campaign to get the word out to our voters.

    Is CNN going to check on this??????????????????????????????????????????????????????

    September 24, 2008 11:23 pm at 11:23 pm |
  10. Remy

    McCain tries to salvage his sinking popularity because he is a Bush ally!

    September 24, 2008 11:25 pm at 11:25 pm |
  11. KATHLEEN

    Yes, Mr. Pres.

    A Bailout! NO, but maybe with CONDITIONS. Save the Poor. Tax the
    Wealthy.
    Incorporate Obama's tax plan for the rich, which is very similar to the
    Clinton taxes. Bush just spoiled the rich!!

    September 24, 2008 11:30 pm at 11:30 pm |
  12. go away mongers-Ventura ca

    How some of the people yell about the Democratic Congress doing nothing is AMAZING- especially since it's the republicans that have been in power the last eight years.
    Republicans are good at name-calling, smear and fear. When it comes to the ISSUES- they haven't a clue!
    EIGHT IS ENOUGH!

    September 24, 2008 11:30 pm at 11:30 pm |
  13. glenn

    McCain wants to postpone the dabate on national security until a later date so it would be the final debate over a topic that is one of strengths and be fresh in the minds of voters before the election. As for postponing the VP debate; we all know what that is about. This is really getting sad for McCain.

    September 24, 2008 11:31 pm at 11:31 pm |
  14. KATHLEEN

    OOOOOOHHHHHHHHHHHHHH! My oh, my. Mr. McCain!!!!!!!!
    This is too funny. McCain Nice Side! Rare?

    September 24, 2008 11:31 pm at 11:31 pm |
  15. Paul from S.F.

    Scott L., you got it half right about who is at fault. Both parties are equally to blame for their part in a lack of regulation of the financial industry. The American people who temporarily profited aren't without fault in this either.

    But I do agree that the Democratic Congress is has done absolutely NOTHING in the last two years to show that they are any different than politics as usual. It really is just a bunch of hot air, but I guess in politics everything your guy does is great and everything that the other does is awful, every time, no matter what. People treat politicians like they're family members, and take any insult personally. Even though Obama appears to be a sharp guy, I've had enough of naive and arrogant Presidents – McCain will likely get my vote come this November.

    September 24, 2008 11:31 pm at 11:31 pm |
  16. James

    McCain is a total and utter joke. He needs a time out to go to Washington to help fix this issue that he helped create. Reid said that Washington doesn't even want him there. Now McCain wants to postpone or cancel little Sarah Palin's debate with Biden. Ugh, these Republicans and all of their supporters are just idiotic.

    September 24, 2008 11:32 pm at 11:32 pm |
  17. Barack & Roll

    Smells like unity to me!

    September 24, 2008 11:32 pm at 11:32 pm |
  18. Hopeful

    McCain's statement didn't sound very "joint". He reminds me of Chicken Little....the sky is falling! Not very presidential, I don't like my president to be in a panic mode. I like Barack's slow hand. Slow and steady wins the race. Remember: act in haste, repent at leisure. OBAMA is the man. The debate is on...

    September 24, 2008 11:32 pm at 11:32 pm |
  19. Slow This Bailout Train!

    I disagree Scott L. Democrats are asking for some thought. By the way, many, many republicans are asking for the same thing. You my friend, appear to be on a partisan train when you should be deep in thought,. Unless, you are one of the "non-thinking-right" who cling to your incoherent interpretation of the Bible. Then, by all means... global warming really is just a big hug from God, the earth is only 4,000 years old, Mary was a virgin (and she still is), making ungodly amounts of money and hording it IS a tenent handed down by the Almighty, AIDS is "crowd control" for a Barbara Streisand concert. God really DOES care whether Suzie can say a prayer, in a graniose and very public manner before she eats her graham cracker and milk, and Barack Obama DID introduce legislation to legalize abortions for kindergaten age children. By the way, he also wanted to discuss the pro's n' con's of the missionary position relative to it's pleasure on females but that was nixed because those left-wing nuts allocated funds to... *** get this folks*** sexual reproduction and birth control for high school seniors.

    YEA... I know... can you imagine teaching a 16-18 year old about sex? What wil those whacko's think of next?!

    September 24, 2008 11:34 pm at 11:34 pm |
  20. Keith

    Look for McCain to appear at the debate with a paper bag over his head as the "unknown politico" the latest gimmick in his clown car of creative hijinx

    September 24, 2008 11:34 pm at 11:34 pm |
  21. Anonymous

    Now…
    I'm no mathematician…

    Your right your not.
    1. create economic plan that helps "millions of families facing foreclosure"
    2.create "an independent, bipartisan board to ensure accountability and complete transparency"
    3. protect taxpayers by creating a economic plan that did not include earmarks.
    4.cannot be a welfare program for CEOs whose greed and irresponsibility has contributed to this crisis
    5, cap on executives salary (left out of article but if you are more informed you should know)

    September 24, 2008 11:38 pm at 11:38 pm |
  22. Steve

    Let's see, Obama REACHED across the aisle to John McCain this morning... John tried to 'steal' the show but showed he can't think about more than one thing at a time.

    Obama is the kind of leader who can lead us to progress. John is the kind of person who can't think about more than one thing at a time...

    September 24, 2008 11:39 pm at 11:39 pm |
  23. John

    Remember all the scare tactics Bush used in 04, well he's doing it again, trying to scare the people into believing the world is coming to an end, financilly. Then McStupid rushes back to Wash. the people will love me now, they can see what a wonderful and smart person I am, my polls will double by tomorrow evening. I don't see how people can be this stupid, wake up, it's all a ploy by the Reps.

    September 24, 2008 11:40 pm at 11:40 pm |
  24. time out

    he doesnt know much about the economy, but want a time out to save the day..might mouse and cairbou need to get real.

    September 24, 2008 11:40 pm at 11:40 pm |
  25. Jorge

    John McCain is proving himself to be the master of distraction.
    Inserting presidential campaign politics into the working group that is trying to get on top of our financial crisis is hardly putting country first.
    If he really wanted to help he would stay out of the way and let people who know something about economics do their work.
    This is just like the stunt he pulled when Hurricane Gustav was heading toward the Gulf Coast. He went down there and got in the way just so he could have a photo op to make it look like he was helping.

    September 24, 2008 11:40 pm at 11:40 pm |
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