Very interesting development along the way to cobbling together a $700 billion bailout to avert what President Bush last night referred to as the possibility of a “long, painful recession.”

Yesterday afternoon Republican candidate Sen. John McCain stunned everyone by saying he was suspending his campaign so he could return to Washington to focus on the economic crisis.

Not only that, but he also called on his Democratic counterpart, Sen. Barack Obama, to join him.

Oh, and one other thing. That much ballyhooed first presidential debate set for Friday night? Let’s put it on hold, McCain said.

Obama responded by saying he agreed – on the seriousness of the situation. But he made it pretty clear that he had no intention of putting off the debate.

In fact, he said it would be the wrong thing to do.

“It is my belief that this is exactly the time the American people need to hear from the person who, in approximately 40 days, will be dealing with this mess,” Obama said.

You might call it the debate before the debate. Or the debate about the debate.

You can make a cogent argument on both sides.

McCain is being hailed for his actions, which are being described as “country-first.”

Obama supporters see politics at work, and suggest the move is tied to the GOP candidate’s sliding numbers in several national polls, where it is believed he is being hurt by the economic mess.

It was once said about the presidency that “the bucks stop here.” What we’ll find out sometime today or tomorrow is whether all these problems with bucks also can stop debates.