Debate is On!

McCain has decided to take part in tonight's debate. Why would he not?

McCain has transformed a minority in both houses of Congress and a losing position in the polls into the key role in the bailout package, the main man around whom the final package will take shape.

Dick Morris explains that the Democrats had crafted a bill with the President that is unpopular with the American people. McCain now gets to design, with Republicans in congress, the revised measure.

Instead of signing on with the Democratic/Bush package, the House Republicans are insisting on replacing the purchase of corporate debt with loans to companies and insurance paid for by the companies, not by the taxpayers. That, of course, is a popular position. McCain would be comfortable to debate this issue division all day.

Will Democrats fight over the new provision?

...the Democrats are not about to be stubborn. They know their package is a lemon and need the political cover of Republican support. So the Republicans can write their own ticket…and they will. John McCain will be at the center of the emerging compromise while Obama is out on the campaign trail kissing babies.

Isn't McCain taking a big risk? What if he can't pull the legislation together?

By Monday, at the latest, the Democrats have to cave in and pass the Republican version. They don’t dare pass their own without GOP support, so they will have to cave in to the Republican version.

Then McCain comes out of the process as the hero who made it happen when the president couldn’t and Obama wouldn’t. He becomes the bailout expert.

No wonder Democrats are acting so snarly.