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NEW YORK -- The financial crisis on Wall Street overwhelmed the 2008 presidential race today, as Republican presidential nominee John McCain this afternoon said he would suspend his presidential campaign tomorrow to return to Washington to work on the proposed $700 billion bailout plan. Democratic rival Barack Obama declined to follow suit, saying he would return only if congressional leaders requested his presence and said there was no reason to suspend the campaign or delay Friday night's presidential debate.
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But Democrats blasted McCain's action as a political stunt, delivered as the economy has surged to the forefront of voters' concerns, and to Obama's advantage. Rep. Barney Frank (D-Mass.) said McCain's move was "the longest 'Hail Mary' in the history of either football or Marys.'' The chairman of the House Financial Services Committee, which was holding a hearing on the bailout, added "I'm not particularly focused on Senator McCain. I guess if I wanted expertise there [from the GOP ticket], I'd ask Sarah Palin."
A president, Obama said, "is going to have to deal with more than one thing at a time."
A president, Obama said, "is going to have to deal with more than one thing at a time."
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Democratic Senate Majority Leader Harry Reid of Nevada had a similar reaction. "It would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation's economy," Reid said. "If that changes, we will call upon them. We need leadership; not a campaign photo op." He added: "If there were ever a time for both candidates to hold a debate before the American people about this serious challenge, it is now."
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Unlike his Democratic supporters, Obama declined to say McCain was playing politics. He said he wanted to go forward with the debate. "That's what I'm preparing to do. My general view is that the American people need to know what we intend to do." He added: "Senator McCain is running his campaign, I'm running mine,"
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P.S. The McCain campaign has accused the New York Times of being "150 percent in the tank" for Barack Obama, but has been unable to demonstrate factual errors in the newspaper's reporting on ties between campaign manager Rick Davis and failed mortgage giants.
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