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Nithiwat

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claimbuster

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So there are some -- some things that we've got to do structurally to make sure that we can compete in this global economy.

Look, we are sending $700 billion a year overseas to countries that don't like us very much.

Senator McCain cut -- Senator McCain opposed funding for troops in legislation that had a timetable, because he didn't believe in a timetable.

But we have to get the cooperation of the people in those areas.

But we have to have a president who is clear that you don't deal with Russia based on staring into his eyes and seeing his soul.

The second point I want to make is -- is the issue of energy.

So I want to say that, with the Nunn-Lugar thing...

The other thing that we have to focus on, though, is Al Qaida.

That sense is something that I want to restore.

And I -- and I honestly don't believe that Senator Obama has the knowledge or experience and has made the wrong judgments in a number of areas, including his initial reaction to Russian invasion -- aggression in Georgia, to his -- you know, we've seen this stubbornness before in this administration to cling to a belief that somehow the surge has not succeeded and failing to acknowledge that he was wrong about the surge is -- shows to me that we -- that -- that we need more flexibility in a president of the United States than that.

And I know that they know that I'll take care of them.

And that's going to be my job.

I don't think I need any on-the-job training.

Well, let -- let me say, Bob, thank you.

Americans are hurting right now, and they're angry.

They're innocent victims of greed and excess on Wall Street and as well as Washington, D.C. And they're angry, and they have every reason to be angry.

But we also have to have a short-term fix, in my view, and long- term fixes.

The catalyst for this housing crisis was the Fannie and Freddie Mae that caused subprime lending situation that now caused the housing market in America to collapse.

Now, I know the criticism of this.

Well, what about the citizen that stayed in their homes?

And so we've got to reverse this.

I think everybody understands at this point that we are experiencing the worst financial crisis since the Great Depression.

And we've got to get the financial package working much quicker than it has been working.

Last point I want to make, though.

Joe, I want to tell you, I'll not only help you buy that business that you worked your whole life for and be able -- and I'll keep your taxes low and I'll provide available and affordable health care for you and your employees.

And I will not have -- I will not stand for a tax increase on small business income.

Fifty percent of small business income taxes are paid by small businesses.

Exxon Mobil, and other oil companies, for example, would get an additional $4 billion in tax breaks.

What I've said is I want to provide a tax cut for 95 percent of working Americans, 95 percent.

And what I want to do is to make sure that the plumber, the nurse, the firefighter, the teacher, the young entrepreneur who doesn't yet have money, I want to give them a tax break now.

Not only do 98 percent of small businesses make less than $250,000, but I also want to give them additional tax breaks, because they are the drivers of the economy.

In other words, we're going to take Joe's money, give it to Senator Obama, and let him spread the wealth around.

Who -- why would you want to increase anybody's taxes right now?

Why would you want to do that, anyone, anyone in America, when we have such a tough time, when these small business people, like Joe the plumber, are going to create jobs, unless you take that money from him and spread the wealth around.

Now, it is true that my friend and supporter, Warren Buffett, for example, could afford to pay a little more in taxes in order...

I would prefer that none of us had to pay taxes, including myself.

But ultimately, we've got to pay for the core investments that make this economy strong and somebody's got to do it.

Well, I don't mind paying a little more.

Our tax rate for business in America is 35 percent.

We need to cut the business tax rate in America.

Now, of all times in America, we need to cut people's taxes.

We need to encourage business, create jobs, not spread the wealth around.

Well, first of all, I think it's important for the American public to understand that the $750 billion rescue package, if it's structured properly, and, as president, I will make sure it's structured properly, means that ultimately taxpayers get their money back, and that's important to understand.

But there is no doubt that we've been living beyond our means and we're going to have to make some adjustments.

So let me get to that.

And I want to go through the federal budget line by line, page by page, programs that don't work, we should cut.

I mentioned health care earlier.

And we're going to have to embrace a culture and an ethic of responsibility, all of us, corporations, the federal government, and individuals out there who may be living beyond their means.

During the Depression era, we had a thing called the home ownership loan corporation.

But -- OK. All right.

Energy -- well, first -- second of all, energy independence.

We have to have nuclear power.

OK, what -- what would I cut?

Government spending has gone completely out of control; $10 trillion dollar debt we're giving to our kids, a half-a-trillion dollars we owe China.

I know how to save billions of dollars in defense spending.

Senator Obama has asked for nearly $1 billion in pork-barrel earmark projects...

And I want to make sure that we are focused on those programs that work.

When President Bush came into office, we had a budget surplus and the national debt was a little over $5 trillion.

And we are now looking at a deficit of well over half a trillion dollars.

And let me tell you...

He voted twice for a budget resolution that increases the taxes on individuals making $42,000 a year.

He voted for the last two budgets that had that $24 billion more in spending than the budget that the Bush administration proposed.

So the fact is, let's look at our records, Senator Obama.

We need to move in a new direction.

Let me just say, Bob.

So I think the tone of this campaign could have been very different.

So I want to tell you, we will run a truthful campaign.

This is a tough campaign.

And when you looked into the camera in a debate with Senator Clinton and said, "I will sit down and negotiate with John McCain about public financing before I make a decision," you didn't tell the American people the truth because you didn't.

And that's -- that's -- that's an unfortunate part.

Now we have the highest spending by Senator Obama's campaign than any time since Watergate.

Well, look, you know, I think that we expect presidential campaigns to be tough.

I think that, if you look at the record and the impressions of the American people -- Bob, your network just did a poll, showing that two-thirds of the American people think that Senator McCain is running a negative campaign versus one-third of mine.

And, now, I think the American people are less interested in our hurt feelings during the course of the campaign than addressing the issues that matter to them so deeply.

You've got to read what he said...

The important point here is, though, the American people have become so cynical about our politics, because all they see is a tit- for-tat and back-and-forth.

We do and I hope...

But when people suggest that I pal around with terrorists, then we're not talking about issues.

I mean, we can have a debate back and forth about the merits of each other's campaigns.

Mr. Ayers, I don't care about an old washed-up terrorist.

The same front outfit organization that your campaign gave $832,000 for "lighting and site selection."

So all of these things need to be examined, of course.

Bill Ayers is a professor of education in Chicago.

Let me tell you who I associate with.

And the facts are facts and records are records.

Well, Joe Biden, I think, is one of the finest public servants that has served in this country.

Her husband's a pretty tough guy, by the way, too.

I agree with that, John.

I do want to just point out that autism, for example, or other special needs will require some additional funding, if we're going to get serious in terms of research.

I think that Joe Biden is qualified in many respects.

But I do point out that he's been wrong on many foreign policy and national security issues, which is supposed to be his strength.

He voted against the first Gulf War.

Senator Obama will tell you, in the -- as the extreme environmentalists do, it has to be safe.

Look, we've sailed Navy ships around the world for 60 years with nuclear power plants on them.

But understand, we only have three to four percent of the world's oil reserves and we use 25 percent of the world's oil, which means that we can't drill our way out of the problem.

We invented the auto industry and the fact that we have fallen so far behind is something that we have to work on.

But I also believe that for far too long, certainly during the course of the Bush administration with the support of Senator McCain, the attitude has been that any trade agreement is a good trade agreement.

And when it comes to South Korea, we've got a trade agreement up right now, they are sending hundreds of thousands of South Korean cars into the United States.

We can only get 4,000 to 5,000 into South Korea.

We've got to have a president who is going to be advocating on behalf of American businesses and American workers and I make no apology for that.