(CNN) - John McCain announced Wednesday he is suspending his campaign on Thursday morning and returning to Washington to work on the financial crisis. He also called on the Commission on Presidential Debates to postpone the first faceoff until Congress has completed work on a bailout package.
Watch: McCain's announcement
“Tomorrow morning, I will suspend my campaign and return to Washington after speaking at the Clinton Global Initiative. I have spoken to Senator Obama and informed him of my decision and have asked him to join me,” he said in New York.
“I am calling on the President to convene a leadership meeting with the leadership from both houses of Congress, including Senator Obama and myself. It is time for both parties to come together to solve this problem,” he said.
Obama's campaign said that the Democratic nominee had called McCain at 8:30 Wednesday morning to ask him if he would "join in issuing a joint statement outlining their shared principles and conditions for the Treasury proposal and urging Congress and the White House to act in a bipartisan manner to pass such a proposal." They also said that McCain returned the call at 2:30 Wednesday afternoon and agreed to join him in issuing such a statement, and that the two campaigns are currently "working together on the details."
In his statement, McCain said he was directing his campaign “to work with the Obama campaign and the commission on presidential debates to delay Friday night’s debate until we have taken action to address this crisis.
“Following September 11th, our national leaders came together at a time of crisis. We must show that kind of patriotism now. Americans across our country lament the fact that partisan divisions in Washington have prevented us from addressing our national challenges. Now is our chance to come together to prove that Washington is once again capable of leading this country.”
The McCain campaign said the Republican nominee's scheduled appearance on David Letterman's show Wednesday evening had been canceled.
The White House praised McCain's statement. "We welcome Sen. McCain's announcement," said White House spokeswoman Dana Perino. "We are making progress in negotiations on the financial markets rescue legislation, but we have not finished it yet. Bipartisan support from Sens. McCain and Obama would be helpful in driving to a conclusion. The financial market crisis is a big problem that requires a big solution, and solving this in a bipartisan way will help prevent economic damage spreading from Wall Street to all Americans."
I smell a rat! Me thinks the man is not prepared!
This is ridiculous. The debate is about the very issues that McCain is trying to avoid. He knows that he is not ready to debate Obama, and he has found a perfect excuse. Why did he not call for this DAYS ago. Now this is going to make Obama look like the bad guy.
I guess he needs more time to cram as well.
well when campaiging isn't working for you...all you can do is just play politics.
K... whats he hiding now?
are you kidding me... r u scared now Mac?
Country before Party... maybe one day Barack will figure that out.
WHHHHHHHHHHHHHHAT!!! WHAT KINDA TRICK IS THIS? FULL SPEED AHEAD!!!!!
it's a stunt
Could it be that McSame is not ready?
You have got to be joking.
Something is fishy here ..........................................................................
what trap is McCain trying to set AGAIN?
BS. McCain got us into this mess with his very philosophies and now this is just another political game he is trying to play. We have a very important election going on and McCain wants to suspend it. This is not a game, McCain, this a serious election. I sure Obama calls him out.
Better idea–let the debate focus be on the economy–oh, that's right–McCain said, "I do not know much about the economy."
SENATOR OBAMA DON'T FALL FOR IT............................. CONTINUE THE DEBATE. CONTINUE TO TALK TO THE AMERICAN PEOPLE. AGAIN. MCCAIN IS MELTING DOWN. THAT S WHY HE HIS SUSPENDING HIS CAMPAIGN
Why didn't McCain decide to cancel the debate yesterday, when he went before the press about the financial bailout? Seems like he needs more time.......
What a ploy! You cannot have a debate for 90 minutes and you can still try to "work on the economy". What a gimmick!
I think he is just AFRAID TO DEBATE!
What's the matter, isn't he ready? Perhaps he needs to take his memory pills.
About time somebody showed some leadership in this country.
Well after about 5 days he listens to Obama's call...good for him now let's just hope the president listens and let's get this mess settled.
Can you say "Stunt!"
This is a tactic. There has been a financial crisis for a while now and McCain is just using the opportunity to act Presidential. Obama, don't fall for it.
Work on or vote on? What really stinks about this bail out is that no one in Washington has thought to bail out the American people. If you bail out the people the businesses will be fine
McCain is running scared. His poll numbers are not going up. After countless GOP members admitting Palin has not experience, Mrs Bush summed it up pretty well. McCain is scared to debate as he has nothing to say regarding the economy for the debate.
Obama do not postpone. Let this election be fair and square. Don't jump when the Repubs say jump or sexist.
That's because he is losing.
Barack IS working on the economic crisis while campaigning. It's called stamina. Sorry, conservatives, but your candidate cannot multitask. Heck, he can't even uni-task. LOL.
Who's trying to avoid debates now? Good grief. I'm sure you'll find a way to spin this too, Red Staters.