Palin Interview with CBS' Couric: Transcript (9-24-08)

Read the complete transcript of the interview on foreign policy.

Katie Couric: As we stand before this august building and institution, what do you see as the role of the United States in the world?

Sarah Palin: I see the United States as being a force for good in the world. And as Ronald Reagan used to talk about, America being the beacon of light and hope for those who are seeking democratic values and tolerance and freedom. I see our country being able to represent those things that can be looked to … as that leadership, that light needed across the world.

Couric: In preparing for this conversation, a lot of our viewers … and Internet users wanted to know why you did not get a passport until last year. And they wondered if that indicated a lack of interest and curiosity in the world.

Palin: I'm not one of those who maybe came from a background of, you know, kids who perhaps graduate college and their parents give them a passport and give them a backpack and say go off and travel the world.

No, I've worked all my life. In fact, I usually had two jobs all my life until I had kids. I was not a part of, I guess, that culture. The way that I have understood the world is through education, through books, through mediums that have provided me a lot of perspective on the world.

Couric: Gov. Palin, you've had a very busy week. And you're meeting with many world leaders. You met with President Karzai of Afghanistan. I know the McCain campaign has called for a surge in Afghanistan. But that country is, as you know, dramatically different than Iraq. Why do you believe additional troops, U.S. troops, will solve the problem there?

Palin: Because we can't afford to lose in Afghanistan, as we cannot afford to lose in Iraq, either, these central fronts on the war on terror. And I asked President Karzai, "Is that what you are seeking, also? That strategy that has worked in Iraq that John McCain had pushed for, more troops? A counterinsurgency strategy?" And he said, "yes." And he also showed great appreciation for what America and American troops are providing in his country.

This infamous part of the interview where Palin is unable to answer the question. Even Conservatives were shocked by her non-response.

Couric: You've said, quote, "John McCain will reform the way Wall Street does business." Other than supporting stricter regulations of Fannie Mae and Freddie Mac two years ago, can you give us any more example of his leading the charge for more oversight?

Palin: I think that the example that you just cited, with his warnings two years ago about Fannie and Freddie - that, that's paramount. That's more than a heck of a lot of other senators and representatives did for us.

Couric: But he's been in Congress for 26 years. He's been chairman of the powerful Commerce Committee. And he has almost always sided with less regulation, not more.

Palin: He's also known as the maverick though, taking shots from his own party, and certainly taking shots from the other party. Trying to get people to understand what he's been talking about - the need to reform government.

Couric: But can you give me any other concrete examples? Because I know you've said Barack Obama is a lot of talk and no action. Can you give me any other examples in his 26 years of John McCain truly taking a stand on this?

Palin: I can give you examples of things that John McCain has done, that has shown his foresight, his pragmatism, and his leadership abilities. And that is what America needs today.

Couric: I'm just going to ask you one more time - not to belabor the point. Specific examples in his 26 years of pushing for more regulation.

Palin: I'll try to find you some and I'll bring them to you.

John McCain Interviewed by CBS' Katie Couric: Transcript (9-24-08)

Read the full transcript.

Katie Couric: Sen. McCain, why is it necessary for you to take this extraordinary step of suspending your campaign?

John McCain: 'Cause these are extraordinary times. The financial crisis is on the verge of a very, very serious, most serious crisis since the end of World War II. That's according to Mr. Bernanke, Secretary Paulson and others. Any expert. This is a most serious situation. And it could … not only be United States markets, but world markets as well.

Couric: In fact, you met with economists this morning, and a number of financial experts, and it seems to me they really shook you up.

McCain: All they did, really, was confirm what we're already hearing from people we most admire and respect in America. The most respected people. I don't, in fact, I don't know anyone that doesn't believe that … this crisis is of such enormous proportions that it has the possibility, I don't think it's gonna, 'cause I think we're gonna act, but could have the possibility of wrecking the economy in ways that we've never contemplated.

Couric: Do you and Sen. Obama agree to the changes that need to be made in this bailout package?

McCain: We certainly agree the some. We said - we have - we have some, not all. But, certainly some. We have some common ground, yes.

Couric: And what are your primary objections to the way it stands right now?

McCain: There are numerous ones. One is that there's not the transparency that I think is necessary. I think we need to have, clearly, oversight. People that we respect and admire from both parties. Like Mayor Bloomberg of New York … and Mitt Romney and others … to oversight this.

And I also think we need to seriously consider something along the lines of what we had during the Depression. To guarantee home loans. I think that's necessary. There are a number of other measures that I think need to be taken in order to convince the American people that a trillion dollars or $700 billion, depending on who you talk to, of their money, that's $10,000 per family in America.

Couric: I know that Sen. Obama initially called you this morning at 8:30 to talk about issuing a joint statement about this bailout. You decided to go a step further by suspending your campaign and asking that Friday debate be delayed. Political observers say whoever gets out front on this issue will benefit the most in November. Was this an effort to do that? And was this at all, Senator, politically motivated?

McCain: Well, I don't think, at this time, that we can worry much about politics, Katie. I think the American people expect more of us. And I would hope that we would respond that way. Senator Obama called this morning. We - I called him back. We discussed that we do agree, and I'd be glad … to join in a common press release or statement, but now is not the time for statements. Time is now to act. And … most experts …

Couric: Did you suggest suspending both of your campaigns?

McCain: Yes. Sure. Yeah. I said …

Couric: And what was his response?

McCain: Well, I'd - I, frankly, I think he … has to consider it. I don't know if he had considered it or not. But I did tell him that I thought we both ought to do that. On the subject of delaying the debates, we've got 41 days left in this campaign. We could move it up a few days. Because we know we have to act. Everybody that I, well, look, it's clear to me we have to act before the weekend. We have to show the markets, the world markets, that we're gonna address this issue seriously.

Ralph Nader Decries Country's 'Two-Party Dictatorship'

The current economic crisis was created by a corrupt two-party system that favors big business. Some of us are fighting it. So should you. You are losing your country.

Independent presidential candidate Ralph Nader lambasted the Democrats and Republicans on Friday as a "two-party dictatorship" that has squandered decades of power and allowed corporate greed to dictate American policy.

As he kicked off a five-day California swing at USC, Nader noted that Barack Obama and John McCain, the parties' presidential nominees, have similar views on increasing military spending, offshore drilling, the proposed $700-billion bailout of financial firms and Israeli-Palestinian relations. Nader, who is on the ballot in 45 states, said dissenting voices must grow louder.

"How many more decades are we going to give them before we get rid of this least-worst, this lesser-of-two-evils mind set and start breaking this corporate grip . . . and have alternative candidates from alternative parties that stand as if people mattered first and foremost?" he asked more than 100 people who gathered in an airy college auditorium.

Every four years, Nader said, politicians trot out the "same tricks" with a different motto.

"This year, it's hope, change. Hope, change. Hope, change," he slowly chanted. "Am I starting to hypnotize you?"

Nader was in California as part of an effort to visit all 50 states before election day. He said that because of Obama's double-digit lead in California, neither of the major party candidates planned to visit the state except to raise funds.

"That's disrespectful" to voters, said Nader, who will make stops at UC San Diego and in Encinitas today, UC Santa Barbara and Cal Poly San Luis Obispo on Sunday, Monterey Peninsula College on Monday and San Francisco State on Tuesday.

He and running mate Matt Gonzalez spoke at USC hours before the first presidential debate, which he derided as "a parallel interview." Nader also criticized the media for ignoring him despite national polls that show him receiving 5% to 6% support and slightly higher percentages in some battleground states.

Nader warned the crowd against political apathy, asserting that Americans need to know as much about politics as they do about sports.