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Obama: Economic Crisis "Not A Time For Politics"

From CBS News' Maria Gavrilovic:

(RENO, NEV.) Barack Obama left out any references to John McCain from his speech today; instead he focused on the economy and the rescue package.

"It is not a time for politics. It is not a time for partisanship," Obama said at a rally at the University of Nevada. "It is not a time for politicians to concern themselves with the next election."

Obama stressed the need for bipartisan compromise on the recovery plan, explaining that blame for the crisis will come later.

"There will be time to punish those who set this fire, but now is the moment for us to come together and put the fire out," he said.

Obama spoke by phone to President Bush and Senate Majority Leader Harry Reid this morning.

He also offered up a new proposal to extend the federal deposit insurance limit from $100,000 to $250,000. Obama said he hopes that this offer will increase bipartisan support for the recovery plan, but he warned that Congress must work swiftly to pass the bill.

"We must act and we must act now. We cannot have another day like yesterday. We cannot risk another week or another month where American businesses are afraid to extend credit and lend money," Obama said, adding, "That is not an option for this country."

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