It gets even more bizarre when you consider what “suspending his campaign” means to McCain. It means, apparently, that he will temporarily, for about four days or so, stop spending money on television and radio advertisements. Because, you know, having staffers making media buys distracts him from finding a nice quiet spot to sit down and think hard about the economy.
The current economic meltdown (Katrina on WallStreet as I like to think of it) is not exactly the Cuban Missile crisis: it’s a long-term structural problem that’s been a long time coming and will take a long time to shake out. The various bailout plans being floated around look like anything from reasonable gambles to insanely scary power and money grabs, but so far McCain’s camp has failed to explain how having him and his campaign stomping around in Washington and giving press conferences is going to help.
Obama’s offer for the campaigns to take the issue off the political table was something that McCain should have lept at, frankly: it could have helped McCain look both nobly bipartisan and maybe given him some cover on an issue that obviously hurts him (a champion of deregulation floundering in a scandal of corruption, fraud, and abuse). This move, on the other hand, makes him look utterly absurd: even his most dogged defenders are admitting that the move looks more like a gimmick in response to his declining poll numbers than an actual substantive response to financial crisis.