John
McCain's Remarks on the Economic Crisis
New
York, NY
Wednesday, September 24, 2008
America this week faces an historic crisis in
our financial system. We must pass legislation to
address this crisis. If we do not, credit will dry up,
with devastating consequences for our economy. People
will no longer be able to buy homes and their life
savings will be at stake. Businesses will not have
enough money to pay their employees. If we do not act,
ever corner of our country will be impacted. We cannot
allow this to happen.
Last Friday, I laid out my
proposal and I have since discussed my priorities and
concerns with the bill the Administration has put
forward. Senator Obama has expressed his priorities and
concerns. This morning, I met with a group of economic
advisers to talk about the proposal on the table and the
steps that we should take going forward. I have also
spoken with members of Congress to hear their
perspective.
It has become clear that no
consensus has developed to support the Administration's
proposal. I do not believe that the plan on the table
will pass as it currently stands, and we are running out
of time.
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.
I am calling on the President to
convene a 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.
We must meet as Americans, not as
Democrats or Republicans, and we must meet until this
crisis is resolved. I am directing my 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.
I am confident that before the markets open on
Monday we can achieve consensus on legislation that will
stabilize our financial markets, protect taxpayers and
homeowners, and earn the confidence of the American
people. All we must do to achieve this is temporarily
set politics aside, and I am committed to doing so.
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.
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