So Sen. John McCain decides to debate after all.

Here’s his explanation:

“Senator McCain has spent the morning talking to members of the Administration, members of the Senate, and members of the House. 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 Representative Blunt as a designated negotiator for House Republicans. The McCain campaign is resuming all activities and the Senator will travel to the debate this afternoon. Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners.”

Others were less sanguine.

Bush delivered a terse statement from outside the Oval Office of the White House, acknowledging lawmakers have a right to express their doubts and work through disagreements on the $700 billion plan, but declaring they must work to avert an economic meltdown, the Associated Press reported.

“There are disagreements over aspects of the rescue plan,” he said, “but there is no disagreement that something substantial must be done. We are going to get a package passed.”

And House Minority Leader John Boehner released a letter to House Speaker Nancy Pelosi, demanding that “serious consideration” be given to a radically different proposal that provides no government money up front for a financial rescue.
“If such consideration is not given, a large majority of Republicans cannot—and will not—support” the administration’s plan, Boehner wrote.

I’m looking forward to the debate. It should be a good one.