WASHINGTON (Reuters) - Republican John McCain and Democrat Barack Obama on Sunday tentatively supported the $700 billion plan to bail out the U.S. financial system.
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Republican presidential nominee Senator John McCain (R-AZ) (L) and Democratic presidential nominee Senator Barack Obama (D-IL) stand together onstage after the first U.S. presidential debate in Oxford, Mississippi, September 26, 2008. (REUTERS/Jim Bourg)
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“Hopefully yes,” McCain said when asked on ABC’s “This Week” whether he would support the deal.
“This is something that all of us will swallow hard and go forward with,” the Arizona senator and Republican presidential nominee said. “The option of doing nothing is simply not an acceptable option.”
“My inclination is to support it,” Obama said on CBS’ “Face the Nation.”
“While I look forward to reviewing the language of the legislation, it appears that the tentative deal embraces these principles” the Democratic nominee said referring to requirements he said needed to be in the package.
Congressional negotiators announced early on Sunday they had reached tentative agreement on a compromise deal that altered key parts of a Wall Street bailout program initially proposed by the Bush administration. Details were expected later in the day.
Both candidates in the Nov. 4 election refused to be pinned down on the economic plan during their first presidential debate on Friday. By Sunday, with a tentative deal in place, they gave general support with comments that the taxpayers had to be protected.
Early same-night snap polls generally showed Obama winning the first of three encounters between the two nominees. McCain tried to paint Obama as naive and too inexperienced to be president.
Obama shrugged that tactic off as a “debating trick.”
McCain has been criticized as condescending toward Obama and for refusing to look at his Democratic opponent during the debate. McCain called the criticism “foolishness.”
“I’ve been in many, many debates,” he said. “And a lot of the times I don’t look at my opponents because I’m focusing on the people and the American people that I’m talking to. That’s what the debate’s all about.”
VICE PRESIDENTIAL DEBATE NEXT
The two debate again on Oct. 7. Before that, the two vice presidential nominees — Republican Gov. Sarah Palin of Alaska and Democratic U.S. Sen. Joe Biden of Delaware — will face off next Thursday.
That debate is expected to attract a large television audience. Palin has excited the conservative base of the Republican Party and her newness on the national scene has raised public interest in the person who would be next in line for the presidency.
Plus, both candidates have misspoken or given less-than-elegant answers to questions, raising the possibility of a misstep that could alter the campaign.
McCain shrugged off criticism of Palin, especially that she is too inexperienced in foreign affairs.
“I’m so excited about the reaction that Sarah Palin has gotten across this country, huge turnouts, enthusiasm, excitement,” he said. “She knows how to communicate directly with people. They respond in a way that I’ve — that I’ve seldom seen.”
Obama ducked questions about whether he thought Palin was qualified to be president.
“I think it’s important for the American people to make a judgment based on what they hear from Sarah Palin herself,” he said. “I think that I’m more concerned about the fact that she doesn’t seem to have any differences with President Bush and would continue the same policies.”
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