US bailout will put pressure on spending-candidates

OXFORD, Mississippi, Sept 26 (Reuters) - A huge financial market bailout package will require the next president to make tough choices and pare back government spending, the two U.S. presidential candidates said on Friday.

"There is no doubt it's going to affect our budget," Democrat Barack Obama said during a debate with his Republican rival John McCain, referring to a planned $700 billion rescue for the troubled financial industry.

McCain agreed the rescue package would put enormous pressure on the federal budget, and said one possible option was an across-the-board spending freeze on programs other than those involving the military, and military veterans.

(Reporting by Doug Palmer, Editing by Frances Kerry)