Debates are still on.

Via the LA Times:

Two days before a widely anticipated presidential debate, John McCain said Wednesday he would skip the session and stay in Washington to work on the nation's financial crisis. Barack Obama ignored McCain's invitation to join him and said he would show up for the debate as planned.

...

Obama rejected McCain's call to suspend presidential politicking less than six weeks before election day. "It's my belief that this is exactly the time when the American people need to hear from the person who, in approximately 40 days, will be responsible for dealing with this mess," Obama told reporters at a news conference in Florida. "It's going to be part of the president's job to deal with more than one thing at once."

...

The nonpartisan Commission on Presidential Debates and the University of Mississippi, host of the forum, also issued statements declaring their intention to proceed as planned. "We believe the public will be well-served by having the debates go forward as scheduled," the commission said in its statement. A spokesman declined to speculate on what would happen if only Obama showed up.

I suppose McCain has to show up now...