McCain on 'FOX and Friends': Transcript (9-30-08)

McCain gets interviewed by the Republican parties propaganda arm, FOXnews, by those three airheads, Doocy, Kilmeade, and Carlson. Read the complete transcript.

MCCAIN: I have talked to the president this morning and recommended an increase from $100,000 to $250,000 FDIC-insured on deposits. I also strongly recommended that the exchange stability fund that the Treasury has has available $250 billion to shore up these institutions. Also the Treasury has at its disposal about $1 trillion that they could begin without congressional authority buying up some of these terrible mortgages and help stabilize the situation.

So I’ve talked to the president. I know that we have to act. Even though we failed yesterday, even though I went back and was able to get more Republicans on board, or help get more Republicans on board, we will go back to this, and I will be engaged always where I think America needs engagement.

CARLSON: So, Senator, are you saying that you went back to get more Republicans on board, so then you were in favor of voting “yes” yesterday, and in essence, then, going back to...

MCCAIN: Oh, absolutely.

CARLSON: OK, well, then, going back on last week did not change enough Republicans’ minds?

MCCAIN: No, it didn’t change enough Republicans’ minds. We’re going to have to change enough Republican and Democrats’ minds. It was 95 Democrats that voted against it.

CARLSON: Right.

MCCAIN: People’s credit is at risk here. The ability to buy a car, to make your home loan payments, to -- for small businesses to get credit. Look, this is affecting Main Street, America. And we’re going to have to resolve it, and we’re going to have to act.

$1.2 trillion of American savings, pensions, IRAs, mutual funds, investments, et cetera, was wiped out, and that hurts Main Street. I’ve got a plan for cutting spending, for keeping taxes low, for making sure that people can keep -- stay in their homes, and a long- term plan.

In the short term, we’ve got to take these measures I just outlined to you, and let’s go back, and let’s make Americans understand, who are opposed -- I was watching your program earlier -- how this affects not Wall Street, but Main Street and working families of America.