Wow

While Connecticut Democrats will delay censuring Senator Joe Lieberman for speaking at the RNC in MN, today has been a whirlwind of events...Earlier today news broke that the government's bailout plan was in trouble on Capitol Hill. Senator Obama, seizing the moment, contacted the McCain camp concerning issuing a joint statement on principles they could agree on about the troubled economy. Not responding immediately or directly to the Obama camp, Senator McCain came out a little after 3:00 p.m. and declared that he is suspending his campaign and going back to Washington, DC to work on a solution to the current economic crisis. Of course McCain, putting "country first" above partisan politics, asked Obama to join him, thus in effect, postponing or even canceling Friday's first presidential debate at Ole' Miss. The Obama camp rejected the idea outright and made it clear that as president, McCain would need to multitask in effect saying, "we can work on the problem and still debate about the economy." Advantage: Obama. Several hours later President Bush announced the reason behind the economic fallout, what needed to be done, and how the government would do it. Bush also said that he invited BOTH McCain and Obama to the White House, along with leaders of Congress from both parties, to flesh out the details of the rescue. Obama accepted the President's invitation and will now head to Washington for this meeting. Advantage: McCain. Now, if the bill is worked out and passed, there's no reason for the candidates not to debate. However, McCain is "banking" on the fact that the bill won't be ready by Friday which everyone agrees is a must or the stock market will drop some more. Subsequently, McCain would stay behind in Washington to work on a solution while Obama heads to Oxford, MS for the debate. It's a risky strategy but one that could give McCain the edge over Obama on the economy and leadership...Having said all that, Former Speaker of the House Newt Gingrich came out on Hannity and Colmes and said that the President's plan is unsound and needs to be rejected by the Congress. Gingrich acknowleges that something needs to be done, but allowing the government to buy back "bad paper" is a bad idea. The Bush administration hopes this "bad debt" will increase in value over time. What the President failed to explain is how the country will earn revenue or break even. Many people believe that they'll get a bill in the mail from the government outlining what they'll need to pay in taxes in order to cover the bailout. The $700 billion price tag is estimated to cost every American $3000.00.