McCain Will Head To Washington To Work On Bailout Plan

(CBS)

(NEW YORK) – The day after suspending his presidential campaign, John McCain will start the day here with a speech at the Clinton Global Initiative, Bill Clinton's non-partisan organization that aims to bring together leaders to address global issues. McCain will be introduced by Clinton and plans to speak about climate change. Barack Obama will address the event via satellite shortly after McCain's speech.

McCain will then head to Washington, D.C., where both he and Obama will meet with President Bush to work on the $700 billion financial bailout plan. The presidential contenders issued a joint statement calling for bipartisan action to avert further catastrophe on Wall Street.

"Now is a time to come together -- Democrats and Republicans -- in a spirit of cooperation for the sake of the American people. The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail," the statement reads. "Now is our chance to come together to prove that Washington is once again capable of leading this country."

McCain was originally scheduled to go to Oxford, Mississippi, today, ahead of Friday's first presidential debate. He has asked the debate be postponed until the bailout bill is finalized, but Obama says the debate should go on as scheduled. McCain has indicated he will go to the debate if sufficient progress has been made on the financial legislation.