Apparently not Congress. Debate’s still on, old man!
From The Associated Press:
WASHINGTON (AP) — Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.
Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-Conn., said, “We are very confident that we can act expeditiously.”
“I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president,” said Sen. Bob Bennett, R-Utah.
The bipartisan consensus on the general direction of the legislation was reported just hours before President Bush was to host presidential contenders Barack Obama and John McCain and congressional leaders at the White House for discussions on how to clear obstacles to the unpopular rescue plan.
Key lawmakers said at midday that few difficulties actually remained.
“There really isn’t much of a deadlock to break,” said Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee.
McCain is a magician! The deal may be done and he didn’t even have to do anything! It’s magic, I tell ya! Magic!
The White House is still playing it cautious, but this further solidifies what a stunt this was by McCain to hijack the narrative and make it about him and not about the economy (or the fact that his poll numbers were crashing).
Sen. John McCain’s decision to suspend his campaign is being played by Democrats as a desperate ploy from a campaign in decline and by Republicans as a courageous move to rescue the economy.
The Arizona senator said he won’t show up for Friday’s presidential debate if no deal is reached on the government’s $700 billion bailout proposal, leading Democrats to accuse him of looking for a distraction.
“I think it shows that John McCain is becoming increasingly desperate in his campaign,” said Keith Boykin, a Democratic strategist and host of BET’s “My Two Cents” …
Democratic candidate Barack Obama’s running mate, Sen. Joe Biden on Thursday accused the Republicans of looking for a “distraction.”
“They don’t want to debate the issues with us,” he said Thursday in Louisville, Kentucky. “They don’t want to debate the issues … because they know they really literally don’t have a political leg to stand on.”
Touché. Your move, McMaverick.