September 24th, 2008
08:45 PM ET
10 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. Tyree,LV-Independent

    Well it looks like they will be using obama's plans to help us get out of this mess that the Republicans got us into. Typical of mccain to try stall the debates because his party has completly failed at running the country. All I can say is................................................................................Obama/Biden 08'.
    We Need Leadership Now!

    September 24, 2008 11:40 pm at 11:40 pm |
  2. inuk of the north

    More statements.


    September 24, 2008 11:42 pm at 11:42 pm |
  3. Alex

    The old man is good at stunt. I give him A+ at stunt and D at substance. He is good shock and awe strategy too...the Palin shock is wearing out and he needs something to stay relevant. He really pulled a rabbit out of a hat.

    September 24, 2008 11:49 pm at 11:49 pm |
  4. Sherry

    I find it so amusing that Obama reached out to McCain first and then McCain stuck a fork in him, grabbed the media to make it looked like HE took the initiative to work together. Just shows how dishonest McCain is. I hope the debate will go on as scheduled. If not, it will certainly show that McCain is not prepared. Even more interesting is his trying to get it moved to replace the VP debate, which is most likely a move to give Palin more time to do her crash course on foreign affairs. *Palin might want to know that "foreign affairs" isn't a leader from another country coming onto her and making a sexist remark.

    September 24, 2008 11:50 pm at 11:50 pm |
  5. Chuck

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

    Boy. Obama got that right. And McCain's tax cuts for the rich? Those ought to be canceled as well. Obama's tax cuts for the little guys makes sense. McCain's government givaway does not.

    September 24, 2008 11:51 pm at 11:51 pm |
  6. max

    Obama, know you are dealing with. Be very careful and wise because these republicans are slick and vile, they may trick you into saying and agreeing with things in pretext it's for the country and the people and then they use it against you on the campaign trail. And then remember that congress has the final decision on this issue, not you, not McCain. Keep your head on your shoulders and your good judgement alive. Go there and speak your substantial mind. Look out for McCain, he is not trusworthy.

    September 24, 2008 11:57 pm at 11:57 pm |
  7. ken

    just how would of this worked if it where the other way , mc cain calls obama about 8: 30 a.m. ask him why don't they make a joint statement on the bail out, obama say yes have your poeple get with mine and call me back later , so mc cain calls back by this time obama said that well im now shutting down my campain and going to washington to fight to get this deal done for the american poeple, sorry pal but we also have to cancel our debate also and im also shuting joe down too. but we still can put together a joint staintment. how far and what hell would of been raised over that , and why is mc cain trying this other than he sees bush going to speak and now he wants in on this in hopes they let him play , all the commities are fulled ,and a agreement is about 80-90 % done so, what are the real facts on this . ken

    September 24, 2008 11:59 pm at 11:59 pm |
  8. holly

    be careful obama, mccain is getting behind in the polls and he feels everything closing in on him. i'm sure he has something planned tomorrow at the meeting to make it look like he is in control of everything. don't fall for it.

    September 24, 2008 11:59 pm at 11:59 pm |
  9. Vic

    Mike D.: It doesn't matter how many Congressman are in Washington to work on this problem. It was Obama who has hammered home, time after time, his ability to reach across party lines to get things done. That's what makes it necessary for these two guys to quit their campaigning and go. McCain has already proven that this is his forte', but if this is the attitude of his opponent who would be president, I'll say "no thanks." Forget the debates; we heard plenty from both of them in the past. If this problem with the economy does not get worked out, no one will need debates. We already can see right now who has exercised the better judgment on solving this problem. Now we'll watch what happens to see which one is more adept at "reaching across party lines."

    September 24, 2008 11:59 pm at 11:59 pm |
  10. pc

    Now is the time for a paradigm shift in our counrty. It will lurch, but it must happen. What the current crisis is begging for – is Health Care Reform, Regulation reform, total economic reform. Some Americans will not like it – like us peons – the middle and lower middle that all live paycheck to paycheck. And that population has grown exponentially over the last 15 yrs. The "have's" are gonna have to give some up. The have nots are not going to GET anything because of this – not in my lifetime. Earmarks suck and there must be a law against them. If Congress goes home to eat well and get re-elected – before working 12 hr days ( like I do ) – to get something done – I am personally coming to Washington to demand action. If you are elected – you are accountable. Does anyone know what being accountable means???
    My meager paycheck is going under the mattress. Not that the dollar will be worth much in a few weeks. People – save your free newspapers – they can be used for tiolet paper. It works best if you crumple it up first.

    September 25, 2008 12:00 am at 12:00 am |
  11. mike

    Scot and the rest of the confused GOP that are divorced from reality. Obama called Jmac @ 8.00 am

    Jmac returned Obama's call 2:30 pm
    They both agree to the proposed issues of Obama.
    Jmac jump to the news confrence and decided to suspend his campaign to make everything look like it was his original plan.

    I thought Jmac said Obama is not ready to lead? Why did u want bush to call him to washington. Because Obama is the guy with the ideas you guys are empty suits.

    September 25, 2008 12:02 am at 12:02 am |
  12. Obamabots Self Destructing is Funny

    Again more proof that Obama is all talk and no action. He doesn't want to stop selling himself long enough to go to D.C. and actually put his words into action.

    Empty suit...All talk...never any action. Just like Obamas bridge to nowhere,

    September 25, 2008 12:03 am at 12:03 am |
  13. Concerned

    Why can't McCain debate for a few hours on Friday night? Seems like our senior citizens doesn't have the energy to multitask. And why can't Palin and Biden debate? She doesn't have anything to do in DC and Biden didn't ask for a delay. Sounds like the Republicans don't want to make any mistakes in the debates.

    September 25, 2008 12:05 am at 12:05 am |
  14. Every Wilson

    John Mccain right now is a sinking rock and he needs Obama to get some boyency! He suddenly wants to go to Washington D C, where he has been an deregulator for 20 yrs! He has a unique situation, his policies and lobbyist friends are responsible for this mess in the first place! He had an opportunity for over 20 years, to fight for regulation, oversight and less lobbyist influence in Washinton, but he chose to go with his republican party 90% of the time, which is a major reason for this debacle! This is just another political stunt by John Mccain to grab a spotlight! He and his party was for the Iraq War! Which has cost Americans taxpayers1 trillion dollars! He wants credit for a surge that is incomplete, but no credit for costing taxpayers 1 trillion dollars or for supporting going after Sadamm Hussein instead using the full might of our military, to go after Bin Laden!
    His hindsight like the surge and stopping his campaign after the fact to fix his judgment errors in policy illuminates his inadequacies and ignorance! We need a proactive president who forsees major problems and have the wisdom to safeguard America's interest! I am tired of this presidents manipulation of the country and congress! He waits until we are in dire circumstances, then whips a crisis management scenario on the people of America. Because of the time constraints left, he then can push through without thorough inspection a pandora's box! We have seen this crisis action before, the Patriot Act and the Iraq War, which America is costing Americans 1 trillion dollars and our daily privacy!

    September 25, 2008 12:08 am at 12:08 am |
  15. No Country For Old Men

    McCain called Bush and told him that he is scared to Debate
    Obama. Please help me out Bush because Obama didn't go for the oke-doke and suspended his campaign. Obama be wise because the last people to listen to a Bush got lost in the desert for forty years.

    What about the Keating Five and thats no lie!

    Obama & Biden ‘08
    Hillary & Warner ‘16
    McCain 88, Hitting & Holding ‘24

    September 25, 2008 12:12 am at 12:12 am |
  16. Speider

    "McCain and Obama issue joint statement on economic crisis"
    ...unfortunately McCain claimed his was in "super-secret invisible spy ink" and it was stolen by "Iranian terrorists bent on destroying America financially."

    He then swore to postpone his debates until he retrieves the stolen plans, even if it takes "until November 5th!"

    September 25, 2008 12:19 am at 12:19 am |
  17. Scott is an idiot

    Wow, Scott~ People like you are exactly the reason our country is in this position now. Dense, stubborn, and partisan.

    Grow up!

    September 25, 2008 12:21 am at 12:21 am |
  18. Jim Doyle

    Jonathan. The article said there were 5 'principles', not points, and that those principles "included" the following three. Pay attention.

    September 25, 2008 12:25 am at 12:25 am |
  19. TS in Canada

    Whatever... so why McC had to "suspend" the campaign for this?

    September 25, 2008 12:36 am at 12:36 am |
  20. Rave

    Mr. Obama stay away from that old fart.
    Enough of Old politics.
    Mr. McPain, For being a POW and getting your a kicked, you gained the respect of Americans.. Then you messed up your marriage and married a rich girl to dump you first wife. Now you dont know how many cars you own and if they are American or Foriegn, dont know how many homes you own, dont know anything about your VP (Piglin), You think Americans are in mental recession and we all are bunch of whiners, You want some terrorist attack to happen again in US before the election, so you could win, You have mental instability
    OBAMA (2008 -16)

    September 25, 2008 12:37 am at 12:37 am |
  21. April Garlow

    No Country for old men--I am amazed that you think this whole financial crisis was done for McCain's benefit–you must be one of those educated Obama supporters.

    September 25, 2008 12:39 am at 12:39 am |
  22. Rave

    Why is McCain so keen about going to Washington.. Anyway his half of a brain wont help with any better ideas.
    I think I know the reason : He and his lobbyist campaign staff must be getting something out of that $700 Billion.
    This reminds me of some scenes in the Animal Planet.. Hynas feeding over dead animals. Only difference, Hynas are much better than these old farts
    Mr. Obama , stay away from that old fart. Finish you work in Washington and head to Missisippi for the Debate. This old fart will chicken out hiding below Bush's desk.
    Atleast, then will America see what a brainless chicken he is
    OBAMA (2008 -16)

    September 25, 2008 12:42 am at 12:42 am |
  23. Amused visitor to America

    McCain takes the pail on this stunt....somehow, the GOP should get the Oscars for the "Greatest Drama Queens" of the 2008 Elections

    McCain seems to come up with some drama at every turn just to distract attention and refocus the discourse from his weaknesses

    I don't know about the American society but the rest of the world sure don't want another "drama queen" in the White House

    There's always something about to blow up so everybody can get into panic....well, a'int buying this time McCain....let the beat go on!

    September 25, 2008 12:50 am at 12:50 am |
  24. Matt

    To Scott L.:

    Arguments that depend on a fundamental misunderstanding of the structure of the very government you are hoping your candidate will control do not, in fact, help your candidate. The Dems have an insufficient majority in both branches of Congress to overturn the record number of vetoes or prevent the constant filibusters spewing forth from the Republican party.

    This is not a "do nothing" congress my friend. It is a "prevent everything" partisan game for the Republicans. It is campaign strategy at its most vile.

    Thank you,

    The American Public

    September 25, 2008 12:50 am at 12:50 am |
  25. 12345678

    AsI said earlier, coach asks for time-out when his team is not playing well. And my confusion is who the coach is – Bush coachs MaCain or MaCain coachs Bush.

    September 25, 2008 12:50 am at 12:50 am |
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