White House noncommittal on McCain’s proposal

The White House said Wednesday it welcomes GOP presidential candidate John McCain’s call for a bipartisan solution to the ongoing financial crisis, but a spokeswoman stopped short of endorsing McCain's call for the president to convene a bipartisan summit to find a solution. 

{mosads}White House press secretary Dana Perino stated shortly after Sen. McCain (Ariz.) said he was suspending his campaign and wants to postpone Friday's debate that the White House is making "progress" in the negotiations with Capitol Hill on the administration's proposed $700 billion bailout package.

McCain said in his statement that he does not see a consensus emerging on the Hill and members from both parties and both Houses, including himself and Obama, should join the president in finding a solution.

“We welcome Sen. McCain's announcement. We are making progress in negotiations on the financial markets rescue legislation, but we have not finished it yet,” Perino said. “Bipartisan support from Sens. McCain and Obama would be helpful in driving to a conclusion. The financial market crisis is a big problem that requires a big solution, and solving this in a bipartisan way will help prevent economic damage spreading from Wall Street to all Americans.”