McCain suspends campaign, Obama won't

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By Christina Bellantoni

BREAKING NEWS:

The presidential candidates took different paths to deal with the economic crisis.

Sen. John McCain Wednesday said he suspended his campaign and asked his Democratic rival Sen. Barack Obama to delay their much anticipated first debate to instead focus on the "historic" economic turmoil.

In response, Mr. Obama said he would not suspend his campaign and said the debate should continue.

The clash represents a major gamble by both candidates as Congress struggles with how to proceed with the $700 billion rescue plan.

In brief remarks in New York, Mr. McCain said he had spoken with Mr. Obama to urge him to return to Washington instead of heading to Mississippi for the Friday evening debate.

Mr. McCain also announced he would suspend his fundraising efforts and stop running campaign ads.

"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," Mr. McCain said.

"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," he said.

Mr. Obama told reporters Wednesday afternoon it is "more important than ever" to hold the debates as planned, though he suggested the topic of foreign policy may actually be co-opted by economic issues.