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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:01:08 |
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Good evening from Belmont University in Nashville, Tennessee. I'm Tom Brokaw of NBC News, and... |
| 00:03:29 |
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With the economy on the downturn, and retired and older citizens and workers losing their incomes,... |
| 00:03:41 |
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Well, Allen, thank you very much for the question. I want to first obviously thank Belmont University.... |
| 00:05:46 |
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Senator McCain? |
| 00:05:50 |
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Well, thank you, Tom. Thank you, Belmont University. And Senator Obama, it's good to be... |
| 00:07:53 |
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Senator, we have one minute for a discussion here. Obviously, the powers of the Treasury secretary... |
| 00:08:09 |
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Not you, Tom. (Laughter.) |
| 00:08:11 |
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(Chuckles.) (Inaudible.) With good reason. (Laughter.) |
| 00:08:17 |
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You know, that's a tough question. And there's a lot of qualified Americans. But I think the... |
| 00:09:21 |
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Yup. All right. Senator McCain -- Senator Obama, who do you have in mind for a Treasury... |
| 00:09:25 |
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Well, Warren would be a pretty good choice, Warren Buffett, and I'm pleased to have his support.... |
| 00:10:35 |
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Senator Obama, thank you very much. May I remind both of you, if I can, that we're operating... |
| 00:10:58 |
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Well, Senators, through this economic crisis, most of the people that I know have had a difficult... |
| 00:11:09 |
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Well, thank you, Oliver. And that's an excellent question because, as you just described it,... |
| 00:13:20 |
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Senator Obama. |
| 00:13:22 |
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Well, Oliver, first let me tell you what's in the rescue package for you. Right now, the... |
| 00:15:53 |
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Senator Obama, time for a discussion. I'm going to begin with you. Are you saying to Mr.... |
| 00:16:05 |
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No. I am confident about the American economy, but we are going to have to have some leadership... |
| 00:16:48 |
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Senator McCain, in all candor, do you think the economy's going to get worse before it gets... |
| 00:16:52 |
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I think it depends on what we do. I think if we act effectively -- if we stabilize the housing market,... |
| 00:17:48 |
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Yeah. |
| 00:17:49 |
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And they are the innocent bystanders here in what is the biggest financial crisis and challenge... |
| 00:17:57 |
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Thank you, Senator McCain. We're going to continue over in Section F, as it turns out. Senator... |
| 00:18:10 |
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How can we trust either of you with our money when both parties got us into this global economic... |
| 00:18:23 |
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Well, look, I understand your frustration and your cynicism, because while you've been carrying... |
| 00:20:26 |
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Senator McCain. |
| 00:20:28 |
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Well, Teresa, thank you. And I can see why you feel that cynicism and mistrust, because the... |
| 00:23:03 |
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Senator -- |
| 00:23:04 |
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-- $700 billion a year overseas. |
| 00:23:06 |
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We've run out of time. We have this one-minute discussion period going on here. There... |
| 00:23:31 |
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That was -- |
| 00:23:31 |
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Senator McCain. |
| 00:23:32 |
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The three priorities were health -- |
| 00:23:34 |
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The three, health -- health care, energy, and entitlement reform -- Social Security and Medicare.... |
| 00:23:44 |
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I -- I think you can work on all three at once, Tom. I think it's very important that we reform... |
| 00:25:10 |
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I'm trying to play by the rules that you all established: one minute for discussion. Senator... |
| 00:25:21 |
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We're going to have to prioritize, just like a family has to prioritize. Now, I've listed... |
| 00:27:29 |
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All right. Gentlemen, I want to just remind you one more time about time. |
| 00:27:32 |
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(Laughs.) |
| 00:27:33 |
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We're going to have a larger deficit than the federal government does if we don't get this under... |
| 00:28:03 |
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Well, Fiorra, I'm going to ask the American people to understand that there are some programs... |
| 00:30:06 |
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Senator McCain, thank you very much. Senator Obama? |
| 00:30:11 |
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You know, a lot of you remember the tragedy of 9/11 and where you were on that day and, you... |
| 00:32:29 |
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Senator Obama, as we begin very quickly our discussion period, President Bush, you'll remember... |
| 00:33:06 |
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Well, I think it starts with Washington. We've got to show that we've got good habits because... |
| 00:34:56 |
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Senator McCain. |
| 00:34:57 |
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You know, nailing down Senator Obama's various tax proposals is like nailing Jell-O to the wall.... |
| 00:36:53 |
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Senator Obama, we have another question from the Internet. |
| 00:36:56 |
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Tom, can I respond to this briefly, because -- |
| 00:37:00 |
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Well, look, guys, the rules -- |
| 00:37:02 |
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I understand. |
| 00:37:02 |
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-- were established by the two campaigns. We worked very hard on this. |
| 00:37:04 |
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Right. |
| 00:37:04 |
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This will address, I think, the next question -- |
| 00:37:05 |
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The -- the -- the tax issue, because I think it's very important. Go ahead. |
| 00:37:08 |
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(Laughs.) There are lots of issues that we're going to be dealing with here tonight. |
| 00:37:09 |
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Let's go. |
| 00:37:09 |
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And we have a question from Langdon (sp) in Ballston Spa, New York, and that's about huge unfunded... |
| 00:37:50 |
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Well, Tom, we're going to have to take on entitlements, and I think we've got to do it quickly.... |
| 00:40:20 |
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Senator McCain, two years for reform of entitlement programs? |
| 00:40:21 |
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Sure. Hey, I'll answer the question. (Laughter.) Look, it's not that hard to fix Social Security,... |
| 00:40:31 |
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And Medicare. |
| 00:40:31 |
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I want to get to Medicare in a second. Social Security is not that tough. We know what the problems are,... |
| 00:42:17 |
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Senator McCain, thank you very much. I'm going to stick by my part of the pact and not ask a... |
| 00:42:23 |
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(Laughs.) |
| 00:42:23 |
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The next question does come from the hall for Senator McCain. It comes from Section C... |
| 00:42:35 |
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Senator McCain, I want to know -- we saw that Congress moved pretty fast in the face of a(n)... |
| 00:42:52 |
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Well, thank you. Look, we are in tough economic times. We all know that. And let's keep... |
| 00:44:35 |
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Senator Obama? |
| 00:44:38 |
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This is one of the biggest challenges of our times, and it is absolutely critical that we understand... |
| 00:47:07 |
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Gentlemen, you may not have noticed, but we have lights around here. |
| 00:47:10 |
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(Laughs.) |
| 00:47:11 |
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They have -- they have red and green -- |
| 00:47:11 |
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All right. |
| 00:47:13 |
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-- and yellow, and they are to signal to -- |
| 00:47:14 |
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Tell you what -- |
| 00:47:14 |
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I'm just trying to keep up with John, you know? |
| 00:47:15 |
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Tell you what -- |
| 00:47:16 |
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Okay, here -- |
| 00:47:17 |
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Tell you what, Tom: wave -- wave like that way and I'll look at you. |
| 00:47:20 |
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All right, Senator. |
| 00:47:20 |
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Okay. |
| 00:47:22 |
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Here's a follow-up to that, one-minute discussion. |
| 00:47:23 |
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Sure. |
| 00:47:23 |
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It's a simple question. |
| 00:47:25 |
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Sure. |
| 00:47:26 |
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Should we fund a Manhattan-like Project -- that developed the nuclear bomb -- to deal with global... |
| 00:47:42 |
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I think pure research and development investment on the part of the -- of the United States... |
| 00:49:11 |
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(Laughs.) Thank you very much, Senator. Next question for you, Senator Obama, and it comes from... |
| 00:49:24 |
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Senator, selling health care coverage in America as a marketable commodity has become a very... |
| 00:49:38 |
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Well, you know, as I travel around the country, this is one of the single most frequently asked... |
| 00:52:11 |
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Senator McCain? |
| 00:52:13 |
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Well, thank you for the question. You -- you -- you really identified one of the really major... |
| 00:54:49 |
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Quick discussion: Is health care in America a privilege, a right, or a responsibility? Senator... |
| 00:54:57 |
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I think it's a responsibility in this respect, in that we should have available and affordable... |
| 00:55:46 |
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Well, why don't -- why don't -- let's talk about this, Tom, because there -- there was just... |
| 00:55:49 |
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Privilege, right or responsibility? Let's start with that. |
| 00:55:51 |
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Well, I think it should be a right for every American. In a country as wealthy as ours, for... |
| 00:58:10 |
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Senator. |
| 00:58:11 |
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-- what happens is, is that the protections you have, the consumer protections that you need,... |
| 00:58:27 |
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Senator, we want to move on now. We come back to the hall here. We're going to shift gears here... |
| 00:58:36 |
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Before we leave that, did we hear the size of the fine? (Chuckles.) |
| 00:58:40 |
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Phil Elliot is over here in this section, and Phil Elliot has a question for Senator McCain.... |
| 00:58:46 |
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Yes, Senator McCain. How will all the recent economic stress affect our nation's ability to... |
| 00:58:56 |
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Well, I thank you for that question because there's no doubt, and history shows us, that nations... |
| 01:00:59 |
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Senator Obama, the economic constraints on U.S. military action around the world. |
| 01:01:05 |
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Well, you know, Senator McCain, in the last debate and today again, suggested that I don't understand.... |
| 01:03:27 |
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Senator Obama, let me ask you -- see if we can establish tonight the Obama doctrine and the... |
| 01:03:57 |
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Well, we may not always have national security issues at stake, but we have moral issues stake.... |
| 01:05:24 |
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Senator McCain, the McCain doctrine, if you will. |
| 01:05:27 |
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Well, let me just follow up, my friends. If we had done what Senator Obama wanted done in Iraq,... |
| 01:07:54 |
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Senator McCain, thank you very much. Next question for Senator Obama. It comes from the F Section, and... |
| 01:08:06 |
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Should the United States respect Pakistani sovereignty and not pursue al Qaeda terrorists who... |
| 01:08:19 |
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Well, Katie, it's a terrific question. And we have a difficult situation in Pakistan. I believe... |
| 01:10:21 |
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Senator McCain. |
| 01:10:23 |
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Well, Katie, thank you. You know, my hero is a guy named Teddy Roosevelt. Teddy Roosevelt... |
| 01:12:27 |
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Tom -- |
| 01:12:27 |
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Senator McCain -- |
| 01:12:28 |
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Tom, just a quick follow-up on this. I think -- |
| 01:12:30 |
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If we're going to have follow-ups, then I will want follow-ups as well. |
| 01:12:32 |
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No, no, I know that. |
| 01:12:34 |
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Be fine with me. |
| 01:12:35 |
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I think we'll get at it, if I can, with this question. |
| 01:12:36 |
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Be fine with me. |
| 01:12:37 |
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Let's have one. |
| 01:12:37 |
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All right, let's have a follow-up. |
| 01:12:38 |
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Be fine with me. |
| 01:12:39 |
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Just a quick follow-up, because I think this is important. |
| 01:12:40 |
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Sure. |
| 01:12:41 |
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I'm just the hired help here, so, I mean -- (laughter). |
| 01:12:45 |
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You're doing a great job, Tom. Look, I want to be very clear about what I said. Nobody called for... |
| 01:13:31 |
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Thank you very much. (Laughs.) |
| 01:13:32 |
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Senator McCain, this is the guy who sang "Bomb, Bomb, Bomb Iran;" who called for the annihilation... |
| 01:14:25 |
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Tom, if -- if we're going to go back and forth, I then -- I'd like to have equal time to go... |
| 01:14:30 |
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Yeah, you get to -- |
| 01:14:31 |
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-- to -- to this. |
| 01:14:32 |
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Last word here, and then we have to move on. |
| 01:14:33 |
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I mean, not true. Not true. I have obviously supported those efforts that the United States... |
| 01:15:39 |
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Can I get a quick response from the two of you about developments in Afghanistan this week? The... |
| 01:16:15 |
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I'll be very brief. We are going to have to make the Iraqi government start taking more... |
| 01:17:13 |
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Senator McCain, briefly. |
| 01:17:16 |
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General Petraeus has just taken over a position of responsibility, where he has the command... |
| 01:18:35 |
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Senator McCain, this question is from you, from the Internet. It's from Alden (sp) in Hewitt,... |
| 01:18:47 |
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First of all, may I say I don't think -- we're not going to have another Cold War with -- with... |
| 01:20:38 |
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Senator Obama? We're -- |
| 01:20:39 |
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It will not be a reignition of the Cold War, but Russia is a challenge. |
| 01:20:42 |
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Senator Obama? We're winding down, so if we can keep track of the time. |
| 01:20:46 |
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Well, the resurgence of Russia is one of the central issues that we're going to have to deal... |
| 01:23:04 |
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This requires only a yes or a no. Ronald Reagan famously said that the Soviet Union was the... |
| 01:23:15 |
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I think they've engaged in evil behavior, and I think that it is important that we understand... |
| 01:23:28 |
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Senator McCain? |
| 01:23:30 |
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Maybe. (Laughter.) |
| 01:23:31 |
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Maybe? |
| 01:23:32 |
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Depends on how we respond to Russia and depends on a lot of things. If I say yes, then that... |
| 01:24:14 |
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All right. We're going to try to get in two more questions, if we can, so we have to move along. Over... |
| 01:24:24 |
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Senator, as a retired Navy chief, my thoughts are often with those who serve our country. I... |
| 01:24:50 |
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Well, thank you, Terry, and thank you for your service to the country. I... |
| 01:26:43 |
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Senator Obama. |
| 01:26:45 |
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Well, Terry, first of all, we honor your service, and -- and we're grateful for it. We... |
| 01:29:14 |
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All right. Gentlemen, we've come to the last question, and you'll both be interested to know... |
| 01:29:39 |
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My wife, Michelle, is there, and she could give you a much longer list than I do. (Laughter.)... |
| 01:31:58 |
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Senator McCain, you get the last word. Senator Obama had the opening. You're last up. |
| 01:32:02 |
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Well, thank you, Tom. And I think what I don't know is what all of us don't know. And that's... |
| 01:33:50 |
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Thank you very much, Senator McCain. That concludes tonight's debate from here in Nashville.... |
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