The Beginning of the End

Only minutes ago, Sen. John McCain suspended his campaign and asked that Friday night’s presidential debate be postponed. Claiming that it was crucial that he return to Washington to participate in the nation’s $700 billion Wall Street bailout, McCain called on Obama to do the same.

McCain has a point. He is a sitting senator who hasn’t exactly been doing his elected duties for some time now. In fact, he has not made a roll call vote in more than five months. (Obama has also been absent for the past two months). And yet what can either man really do?

This is the height of political theater. As with the campaign cessation during Hurricane Gustav, there is little more McCain or Obama can do other than stand around and look concerned. This latest move by McCain is nothing more than a photo-op stunt.

For his part, Sen. Obama has indicated his desire to move ahead with the debate, claiming, “It’s my belief that this is exactly the time the American people need to hear from the person who in approximately 40 days will be responsible with dealing with this mess. Presidents are going to have to deal with more than one thing at a time. It’s not necessary for us to think that we can do only one thing, and suspend everything else.”

It’s a bit of a risky move. Rejecting McCain could allow the Republican to take a counterfeit high ground and appear to be the only one above politics, the only one who “puts country first.” But agreeing to it could make Obama appear like a follower, rather than a leader, just at the time when the current financial crisis has become the turning point in his numbers.

The reason for McCain’s plea is all too clear.

The faltering economy is proving to be a disaster to McCain, whose strong suit is national security and who has said repeatedly that he is no expert on the economy. Sarah Palin, McCain’s not-so-secret weapon, is watching her numbers plummet around the nation, including a 20 point deficit in her home state of Alaska. According to today’s brand new Wall St. Journal/ABC poll, John McCain’s 49-47 point edge has been transformed to a 52 percent to 43 percent lead for Obama. Since 1948, no candidate with 50 percent or higher in September has ever lost the White House.

McCain is gambling everything with this audacious move. Only the next few days and weeks will reveal whether or not this was the beginning of the end for team McCain.