MR. KILMEADE: South Carolina Senator Lindsey Graham joins us -- a big time John McCain supporter. The inside story on why the senator wants to postpone the debate.
First off, Senator Graham, how serious is this economic crisis? You found out information a short time ago. Can you share it with us?
SEN. GRAHAM: Yeah. I talked to Secretary Paulson this morning. He called me and let me know that unless the Congress acts soon, we could have some major financial institutions fail in a matter of days, not weeks.
So here's the way I would put it: If the president of the United States were overseas doing some business in a foreign land, they would be justified leaving that meeting coming back to deal with this. If we don't get this right soon, we're going to have a major financial meltdown.
MR. DOOCY: Sure.
Senator, of course, this is the number one issue that Americans are concerned with -- the economy. Over the last week or two, Barack Obama has made some economic hay in the polls. But now, John McCain's saying, look, it's time to forget about campaigning. I'm going to go back to work.
The fact that he has called for a suspension of the debates for now, while Barack Obama says, let's go full-steam ahead on that front, what does that say to you?
SEN. GRAHAM: It says that Senator Obama doesn't understand the crisis as it exists. His chief supporter, Warren Buffett, said yesterday that this financial crisis was an economic Pearl Harbor. Now, Warren Buffett's a smart man and Pearl Harbor means a lot to Americans. I don't think he just idly picked that phrase.
Bernanke and Paulson are telling us and me this morning that if we don't act, the inability to get credit in this country is going to be -- the ability to get credit will be non-existent and our economy's going to start to meltdown.
So this is not about debating. We're going to debate. This is about a solution to save peoples financial -- what they've worked for all their life: the value of their home, their 401(k) plan. So he doesn't understand that this is a crisis that would warrant a president returning from overseas to come back and solve it.
Harry Reid said two ago, John McCain, if he doesn't vote for this proposal, no Democrat would. And John said, well, I'll come back and work on a proposal I can vote for, Harry. Now, Harry says, well, you shouldn't come back. This is ridiculous! The Congress is broken and John's trying to fix it.
MR. KILMEADE: So Senator Graham, if John McCain -- if this is a political ploy, he's going to have to put his two cents in. What does he want to change about the bailout program that's out there now or the bridge loan?
SEN. GRAHAM: Well, he wants to make sure that the taxpayers can get their money back; that no one person will decide what assets to buy and how to recoup taxpayer money. He wants to make sure that no CEO gets rewarded. He wants to make sure that Main Street people, citizens, get a benefit, not just institutions.
He will speak in a minute about this, but John feels so strongly about what's happening to our country right now that he knows he needs to be in Washington, because everything people have worked for all their life is literally at risk within days!
MS. CAMEROTA: Senator Graham, I want to tell you what Barack Obama's response has been. He says that as president, you will have to multitask. You may have to deal with more than one crisis at a time. Does he not have a point?
SEN. GRAHAM: The point is that there has been no bigger crisis in my lifetime facing America than the financial meltdown that's about to come. When Warren Buffett says this is a financial Pearl Harbor, this is the time for the American government to work and leaders to come together.
And I don't think Senator Obama gets it! I get it! If we don't act, people are going to lose their homes, their savings and everything else. And we need to do it soon.
We can debate next week. We need to solve America's problems this weekend before it's too late. So I don't think appreciates what Warren Buffett said -- Pearl Harbor's about to come!
MR. DOOCY: All right. Senator Lindsey Graham, Republican from South Carolina.
Sir, thank you very much. We know you've got an awfully busy day. Thanks for stopping by and talking to us this morning.
SEN. GRAHAM: Thank you.