Mac: Delay Debate to Focus on Economy

John McCain says he's directing his staff to work with Barack Obama's campaign and the debate commission to delay Friday's debate because of the economic crisis. In a statement today, McCain says he will stop campaigning after addressing Bill Clinton's Global Initiative session tomorrow and return to Washington to focus on the nation's financial problems.

"It has become clear that no consensus has developed to support the administration's proposal," McCain said. "I do not believe that the plan on the table will pass as it currently stands, and we are running out of time." McCain said if Congress does not pass legislation to address the crisis, credit will dry up, people will no longer be able to buy homes, life savings will be at stake, and businesses will not have enough money. (More financial crisis stories.)