McCain, Obama to talk bailout bill with Bush
Presidential candidates Sen. Barack Obama (D ? Ill.) and Sen. John McCain (R ? Ariz.) are meeting with President Bush Thursday afternoon to discuss the federal government?s $700 billion bailout plan as Congressional leaders reached an agreement in principle.
President Bush took to the national airwaves Wednesday night to update the country on the economic crisis. He warned the United States could slip into a financial panic if Congress does not take action.
McCain has announced he is suspending his campaign to focus on the economy and bailout package. He also says he wants Friday night?s scheduled debate postponed, though the Commission on Presidential Debates says it intends to go forward with the event. Obama says it is more important than ever for he and McCain to meet face to face.
According to a Marist Poll released Wednesday, 48 percent of registered voters believe Obama has a better economic plan going forward, while 41 percent say McCain does. However, McCain leads on the question of which candidate has a better economic record 48 to 36 percent.
Stocks were up early Thursday, signaling a positive response to the discussions moving forward in Washington. However, there was more bad news for the economy. New home sales fell by a record amount in August to a 17-year low.