New York, Nov 26 : John McCain, the Republican presidential candidate who lost to Barack Obama in the Nov 4 poll, has said that he would work in tandem with the President-elect in helping the country getting out of the economic recession at the earliest.

According to the New York Daily News, McCain last evening pledged to work with Obama on the economy and other issues.

According to the paper, McCain said he would visit Iraq and Afghanistan, then work with Obama to pass an economic rescue plan, and maybe even immigration reforms.

“The President’s agenda is something that we have to - Republicans and Democrats alike - adhere to,” he reportedly said while addressing his first official press conference after losing to Obama.

Talking tough to his own Republican Party for losing its fiscal bearings, he said: “We let spending get completely out of control - we just basically became a party that had no fiscal discipline. I think that’s one of the lessons of the election, and there are many.”

On the occasion, McCain also announced his plans to run for re-election to the senate in 2010, but ruled out contesting the next presidential poll, saying: “I do not envision a scenario that would entail that, thank you. By 2012 McCain will turn 76.

McCain also defended Alaska Governor Sarah Palin as his running mate, arguing that the conservative Palin "has a very bright future" as a national GOP leader. The decision to choose Palin had invited severe criticism from different quarters and also hurt GOP’s campaign for the presidency, said the paper. (ANI)