McSame flip flops on debate

OXFORD, Mississippi (CNN) -- Sen. John McCain will attend the first presidential debate as planned Friday night, his campaign announced.


Workers put the finishing touches on the debate stage at the University of Mississippi on Thursday.

McCain said earlier this week he would not attend the debate if an agreement had not been reached on a $700 billion bailout plan for Wall Street.

The outcome was up in the air Friday as lawmakers scrambled to agree on a plan.

But by midday, McCain's campaign said the Republican presidential nominee believed enough progress had been made for him to travel to Mississippi to participate in the debate, set for 9 p.m. ET at the University of Mississippi campus.

"He is optimistic that there has been significant progress toward a bipartisan agreement now that there is a framework for all parties to be represented in negotiations, including Rep. [Roy] Blunt as a designated negotiator for House Republicans," the campaign said in a statement.

"The McCain campaign is resuming all activities and the senator will travel to the debate this afternoon."

Both presidential candidates -- McCain and Democratic Sen. Barack Obama -- returned to Washington Thursday to participate in talks over the bailout package.

Don't Miss
McCain's move: Putting priorities or politics first?
Did McCain blindside Obama?
Begala: We need a debate now
CNN readers say bring on debate
The debate is expected to focus on foreign policy and national security, but the economic crisis is likely to be a dominant issue as well.

Debate planners got a big surprise when McCain called for postponing it. The university has invested millions of dollars preparing for it. Watch more on the fate of the debate »

Obama's campaign had argued over the past couple of days that both attending the presidential debate and working on the bailout plan could be accomplished and the event should go on.


"I think we can do both of these things at the same time. The next president is going to face multiple crises on the same day," Robert Gibbs, Obama's top adviser, had said on CNN's "American Morning."

"We've got a presidential debate scheduled. We've got a stage. We'll have an audience. My guess is we'll have a moderator and at least one of the presidential candidates," Gibbs said.