Obama, McCain campaigns: Starkly different first reactions to bailout bill's failure

As the financial rescue plan went down in flames in the House and the big drop in the stock market accelerated, the initial reactions from the two presidential campaigns were dramatically different in tone and tenor.

Barack Obama delayed a rally in Westminster, Colo., to make calls to House Speaker Nancy Pelosi and Treasury Secretary Henry Paulson.

The Times' Maeve Reston was with the campaign, and she reports that when Obama eventually took the stage, he appealed for calm -- and sought to underscore his point with an analogy his audience might appreciate.

"There are going to be some bumps and trials and tribulations and ups and downs before we get this regulation package done," he said. "It’s important for the American public and for the markets to stay calm, because things are never smooth in Congress, and to understand that it will get done -- that we are going to make sure an emergency package is going to get put together because it is required for us to stabilize the markets."

After calling for Democrats and Republicans to "step up to the plate, get it done," he added: "It’s sort of like flying into Denver, you know you’re going to land, but it’s not always fun going over these mountains."

John McCain was traveling from an appearance in Ohio to one in Iowa as the bailout bill went down the tubes in the House. He'll be commenting soon, but Douglas Holtz-Eakin, his senior policy adviser, issued the following statement:

From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was attacked by the Democratic leadership: Sens. Obama and [Harry] Reid, Speaker Pelosi and others.

Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families.

Barack Obama failed to lead, phoned it in, attacked John McCain, and refused to even say if he supported the final bill.

Just before the vote, when the outcome was still in doubt, Speaker Pelosi gave a strongly worded partisan speech and poisoned the outcome.

This bill failed because Barack Obama and the Democrats put politics ahead of country.

-- Don Frederick

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Comments

[Sanjoy Das]

McCain has added a new twist to his campaign statement: Country First!

When his campaign starts to tank, he lets the US economy go down first!

[Hana]

If I was an American, just based on these responses, I'd vote for Obama.

The Reps are all about the blame. WHAT HAPPEN TO "COUNTRY FIRST!?

[Saint Michael Traveler]

Republicans could not deliver the vote!

Now McCain said: let us find somebody to blame this for. Oh, how about Democrats?
Republicans go again with the same old game of failing and blaming.
Who is President Bush? Republicans. Under whose leadership did the market fail? Bush-McCain's. But, it is the Democrats failure, Republicans would say. But, did they really say that? Yes.

[Shripathi Kamath]

Has John McCain's campaign remained in suspension? If not, will he suspend it to head back to Washington to solve this mess?

[Frankly Mi Deer]

Honestly, as soon as I heard on CNN that the vote was against, I was absolutely certain that Grandpa was gonna blame it on The Black Guy.

Sigh...

[Virginian]

"Country First - We'll ruin the other economies later"

[steve]

lemme see if I have this straight....Obama makes a speech telling everyone to get it right and McCcain PHONES IN HIS SPEECH. Hmmm....

[No]

Are you people stupid? How is McCain to blame for this? Over 40% of the House DEMOCRATS didn't vote for this bill--that's what killed it.

The DEMOCRATS have enough votes to win a majority on ANY bill in the House.

[julie]

Huh - One guy has class, calm, and the ability to show leadership. The other guys has a handful of muddy crap to fling.

Nancy Pelosi should be flogged for her crass (however true) last minute partisan diatribe.

[Mitch]

Did you see the vote against?
The vote against the measure was 228 to 205, with 133 Republicans joining 95 Democrats in opposition.
MCCain really doesn't get it, his own party defeated it. AND good riddence

[lucy2008]

To the authors here, I don't always agree with both of you, but you were very effective by just putting each candidates response by itself and letting it stand. How provocative.

No pundit comments.

[MagBill]

The Democrats hold a commanding majority in the House, and could have passed this measure without a single Republican vote. Yet 40% of Dems voted no. They have no one to blame but themselves.

[Jim Keifer]

So it's the democrats fault, but the republicans who didn't pass the bill becuase they were mad over a speech by a democrat attacking Bush....
wow...what a strong line of argument.
He should have let Palin get up and talk some more "Hot Chick" gibberish instead of goin out like this....

[sandra abda]

AS usuall the worst Congress in our history continues to scew up this country, All those who voted NO, You have lost homes , jobs and now the respect of your OWN people. Shame on the NO's, you are No statesmen or women. Just loosers

[Jack]

And in all of this crisis the 'inexperienced' former state legislator from Illinois remains calm, cool and collective. The 26 year 'experienced' Senate veteran and war hero launches into partisan attacks and more erratic campaigning. Just who is acting more presidential now?

[Marc]

Democrats control the House of Representatives. 95 Democrats voted against the bill. it wasn't just republicans that didn't like giving $700 billion to one man.

[E. in Houston, TX]

So, Don, what's your point? Ask another way. What did you expect from McCain with all that egg on his face?

[Carl]

Why should not they blame it on Santa Instead? Santa caused all this financial meltdown and swooped in to sabotage this agreement too. You see, RepubliCONs, who directly caused this with relentless deregulation, refused to enforce the laws in the books and allowed one major merger after another with outrageous golden brochettes for their friends are now blaming Dems on this! Have they gone insane? Helleva job Bushie.

Bush is the lamest of lame ducks, with a minuscule approval rating and no clout or political protection left to offer. Bush and Vice President Cheney were reportedly making calls to wavering Republicans right to the end; obviously that didn't do the trick.

[Charles Dobbins]

I know how people feel about the bailout drubbing. Every week I find out the lottery did not come through for me. The next day I go to work, pay my bills and curb my spending. What a downer. But, that's life.

[SueP]

Could the McCain camp BE more irresponsible?? This economic rescue still needs to happen and here's the McCain camp making all sorts of heated charges and covering their butts. Plain and simple: Congress heard a lot of anger from common folks about this "bailout" because they were rushing to vote without EXPLAINING it well to the public, or reassuring average Americans that their interests were protected. So, Repubs fearing about ruining their reelection chances then refused to back the plan because, hey, they were worried about keeping their jobs.

Now that the stock market TANKED, the average folks with IRAs and mortgages may go, "Oh...wait a minute...we have to do something!" and the Congress will put out a new and improved rescue plan (hopefully not calling next attempt a "bailout" -- sheesh!) to pass in a couple of days. Hope it won't be too late, but that's what's going on. Barack, the voice of good sense, is going to be shown, again, to be right.

Doesn't the McCain camp realize that the global economic stability is at risk here? It's not about him, or his poll numbers. Somebody PLEASE give those McCain guys some perspective!!!

[Cheire Fayan]

How is this Obama's problem - or McCain's (other than they are Senators?)

Neither of them are on the finance committee; neither of them really have much business stepping in now.

Let's hope the committee members can find their butts with both hands, shall we?

[the truth]

Among Democrats, 140 voted yes and 95 no. Among Republicans, 65 voted yes and 133 voted no.

Frank remarked on the numerical "coincidence" that the number of "deeply offended Republicans" who voted no equalled exactly the number needed to reach the 218 votes in favor to pass the bill.

[Andy2]

There's plenty of blame to go around, that's not the point. Big problems like this can't get solved by either party alone. It means everyone has to work together.

We can see pretty clearly from these reactions who is really sincere about that - Obama - and who wants to continue the "blame game" - McCain. Or Maybe McBlame.

[Steve in KC]

The Democrats don't need the Republicans in the House. They have a majority. Why can't they pass it? I guess they blame the Republicans because they can't get their own on board. That sounds about right. Blame McCain for the Democrats failing to pass the bill with their own majority.

[Jason]

How much gold the U.S. dollar buys shows any country's economic strength. In 2000 before Bush came to power it was around 250/oz today it's over 900/oz in a month his mark on america will be over...the dollar is losing value, the world is seeing through the veil and all the turkeys in washington can do is point fingers...obama, mcain...both turkey...RON PAUL will talk about real issues that these controlled puppets will NEVER!!

Return the GOLD STANDARD understand the real history behind the federal reserve, restore GOLD, restore the republic for the people.