Across the Pond: electoral college maps and state polls

John McCain sought to seize back the initiative in the presidential race by asking Barack Obama to postpone tomorrow's televised debate, suspend campaigning and return to Washington for crisis talks on the economy.

His dramatic announcement came just hours before President Bush delivered a sombre TV address to the nation warning that "our entire economy is in danger" unless Congress agreed swiftly to his $700 billion rescue package for stricken financial institutions.

The White House last night said that Mr Bush would meet both of the candidates vying to succeed him today, along with Congressional leaders.

Mr Obama and Mr McCain also issued a joint statement, saying: "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. This is a time to rise above politics for the good of the country,” it said. “We cannot risk an economic catastrophe.”

The Democratic nominee has, however, reacted coolly to suggestions that tomorrow's debate in Mississippi be postponed. "This is exactly the time when the American people need to hear from the person who, in approximately 40 days, will be responsible for dealing with this mess," he said.

This is not the time to "suddenly infuse Capitol Hill with presidential politics," he added. While acknowledging "the clock is ticking," Mr Obama proceeded to pour scorn on the notion that all campaigning should cease, saying: "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 only do one thing and suspend everything else."

He also hinted at some resentment that Mr McCain had beaten him to the announcement, pointing out that he had reached out first to seek a bi-partisan solution by telephoning his rival at 8.30am to suggest they issue a joint statement on shared principles.

It was only after a six-hour delay that the Republican had called back, agreeing to the joint statement and raising a possibility that the debate should be postponed. When he got back to his hotel, Mr Obama said he was surprised to learn that Mr McCain had already been on TV to announce his intentions. There must have been "some miscommunication," added the Democrat.

Mr McCain has appeared to lose his footing over the past week in the face of the financial storms ripping through America, with polls suggesting yesterday that they have may have propelled Mr Obama into a commanding lead and blown away the Republican's long-standing advantage on which candidate is best able to handle an unexpected crisis.

Opponents last night suggested his proposal to skip the debate and suspend campaigning was the latest in a series of panic moves which included his pick of Sarah Palin as running mate, as well as a response to the financial crisis that has been marked by populist railing against Wall Street and some glaring inconsistencies.

Democratic Senator Chuck Schumer described it as "weird and odd," adding Senate colleagues had not heard "hide nor hair" from Mr McCain during any of the negotiations prior to this announcement. One of Mr Obama's aides said: "The only thing that has changed is John McCain's standing in the polls."

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