By: Associated Press and BlackAmericaWeb.com
President Bush on Wednesday warned Americans and lawmakers reluctant to pass a $700 billion financial rescue plan that failing to act fast risks wiping out retirement savings, rising foreclosures, lost jobs, closed businesses and even “a long and painful recession.”
His warning followed extraordinary invitations he issued to presidential nominees Barack Obama and John McCain, and key congressional leaders, to attend a meeting at the White House on Thursday in hopes of working out a compromise.
Meanwhile, raw politics threatened to derail the first presidential debate as McCain suspended his campaign and challenged Obama to delay their first debate, scheduled for Friday in Mississippi, and join forces to help Washington deal with the financial mess. Obama quickly rebuffed his GOP rival, saying the debate should go forward and the next president needs to “deal with more than one thing at once.”
Obama Rebuffs McCain on Delaying Debate, Plans to Meet with President on Bailout Deal
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