McCain Suspends Campaign >But is this a campaign strategy?

McCain seeks to delay debate to focus on economy

Sep 24 02:58 PM US/Eastern
By BETH FOUHY
Associated Press Writer

NEW YORK (AP) - Republican John McCain says he's directing his staff to work with Barack Obama's campaign and the debate commission to delay Friday's debate because of the economic crisis.

In a statement, McCain says he will stop campaigning after addressing former President Bill Clinton's Global Initiative session on Thursday and return to Washington to focus on the nation's financial problems.

McCain also said he wants President Bush to convene a leadership meeting in Washington. Both he and Obama would attend the session.

THIS IS A BREAKING NEWS UPDATE..link to news story

Here's an interesting take on this news by Richard Miniter.

September 24th, 2008 12:31 pm

McCain’s Bet

In a shrewd move, Senator McCain has just proposed delaying Friday’s first presidential debate–in order to convene a meeting with Obama, President Bush and other decision-makers from both parties to sort out the financial mess.

It makes McCain look engaged in solving the number one issue on the minds of Americans, right now. It gives him a bigger bully pulpit to fight the Christmas tree of legislation that is winding its way through Congress now (even student and car loans have been added to the bailout).

It minimizes the power of Rep. Barney Frank, who has rolled his Senate counterpart, Chris Dodd, and is leading the congressional effort. Rep. Frank is a key Obama ally.

It also presents a strategic problem for Obama. Until now, the Illinois freshman has been able to coast, saying he supports what Rep. Frank and other Democrats are doing. If Obama and McCain attend a White House summit, each will have to lay out detailed proposals for reform. Obama would have to lock himself in–and take criticism for his ties to Fannie and Freddie.

And if Obama refuses to attend the summit, he effectively announces that he is unready to lead in a crisis.

While this may be a shrewd move for the McCain campaign, it is not an example of “country first,” his campaign theme. The Dow may tumble on the news that all of the discussions of the past two weeks will be thrown up in the air, pending a White House summit with two presidential candidates who are 40 days away from an election. The street doesn’t like wild cards.

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