L. KING: Joining us now on Capitol Hill from the Russell Rotunda, our friend, Senator John McCain, Republican of Arizona. He was the standard-bearer of his party last year and a member of the Health, Education, Labor and Pensions Committee.
First, your overall impression.
How was the speech?
SEN. JOHN MCCAIN (R), ARIZONA: Well, I thought the president is eloquent. I thought he had a lot of passion. I think it was more partisan than -- than I had expected, but -- and -- and there's a lot of questions that remain unanswered, I think. But he did give some more specific aspects of his -- of his overall proposal.
But a small example is that he says if you like your health insurance policy, you'll be able to keep it. The Congressional Budget Office says that if your employer goes to the health option and the employer -- the health policy that the government is providing and then you're going to lose the policy that you have with your employer. That's 10 million Americans, according to the Congressional Budget Office. Certainly, there are questions about how you're going to pay for this, as well, that will be explored in days to come.
L. KING: The president cited one of your proposals, Senator, tonight, as he made up -- as he made his case.
Watch. (BEGIN VIDEO CLIP)
OBAMA: For those Americans who can't get insurance today because they have pre-existing medical conditions, we will immediately offer low cost coverage that will protect you against financial ruin if you become seriously ill. This was a good idea when Senator John McCain proposed it in the campaign, it's a good idea now and we should all embrace it.
(END VIDEO CLIP)
L. KING: That had to move you, did it not?
MCCAIN: Yes. And I do believe that it's an important aspect, obviously. We've got to provide healthy -- available and affordable health care to all Americans. And one of the biggest problems is those that have the "pre-existing conditions." And this is, I think, obviously, a viable way to address that issue. I'm glad the president mentioned it.
And there are a lot of things we can agree on, Larry. There's many things that we can agree on and work together. Republicans want reform. We know that the system is broken, particularly Medicare. But we are very concerned about the cost. We're very concerned about this "public option." Frankly, some tests on medical malpractice reform doesn't get it. Hundreds of billions of dollars have been wasted in defensive medicine and medical malpractice reform, the requirement for it.
