McCain on the state of the nation

COOPER: Senator McCain, are Americans better off than they were eight years ago?

MCCAIN: I think you could argue that Americans overall are better off, because we have had a pretty good prosperous time, with low unemployment and low inflation and a lot of good things have happened. A lot of jobs have been created.

But let's have some straight talk. Things are tough right now. Americans are uncertain about this housing crisis. Americans are uncertain about the economy, as we see the stock market bounce up and down, but more importantly, the economy particularly in some parts of the country, state of Michigan, Governor Romney and I campaigned, not to my success, I might add, and other parts of the country are probably better off.

But I think what we're trying to do to fix this economy is important. We've got to address the housing, subprime housing problem. We need to, obviously, have this package go through the Congress as quickly as possible.

We need to make the Bush tax cuts permanent, which I voted for twice to do so. I think we need to eliminate the alternate minimum tax that sits out there and challenges 25 million American families.

COOPER: It sounds like that we're not better off is what you're saying.

MCCAIN: Pardon me?

COOPER: It sounds like you're saying we're not better off.

MCCAIN: I think we are better off overall if you look at the entire eight-year period, when you look at the millions of jobs that have been created, the improvement in the economy, et cetera.

What I'm trying to emphasize, Anderson, that we are in a very serious challenge right now, with a lot of Americans very uncertain about their future, and we've got to give them some comfort.

We've got to give them some stimulus. We've got to give them some tax relief. We've got to stop this outrageous squandering spending that causes us to have to borrow money from China, and we've got to get our fiscal house in order.

I think we went on a spending spree that, frankly, betrayed Ronald Reagan's principles about tax cuts and restraint of spending.

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[darwinx0101]

American's are better off? Either mcbush is lying, or he is telling the truth and just senile.

[Maaandi08]

Romney is looking at him like he's an idiot

[BagelsForever]

McCain's right we're better off now than the day Clinton left office. We're just a nation of whiners and it's all in our heads. McCain is a wise old guy with lots of experience so he can't be wrong!

Obama/Biden 08

[poteed]

We need to ahh...fix the subprime things. Does he know anything about the economy? McCain-the last eight years might have been better for you but you're in quite the minority my man.

[oneyollie]

We are better off. We're just going through a slight mental recession. I'll end on November 5.