Gideon Rachman of the FT:

If McCain had been conducting a campaign of utmost sobriety and deliberation up until this moment - I think calling the debate off might have worked for him. The trouble is that in the past couple of weeks, he’s given the impression of making spur of the moment pronouncements and decisions. So at the beginning of the week, he is announcing that the US economy is fundamentally in good shape. By the end of the week, the crisis is so grave that it would be a dereliction of duty to honour his commitment to one of the hallowed traditions of a US election - the presidential debate.

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