Transcript: Gibson Interviews John McCain

I'm very excited about it. I'm very excited. I mean, this person is going to come to Washington and, I'm telling you, to the "old boy" network, they better look out, because change is coming.

Charles Gibson talks to Sen. John McCain on the eve of his acceptance of the Republican party's presidential nomination.

(Donna Svennevik/ABC)

GIBSON: Senator, since I've been following politics, every single presidential nominee has said that the first quality they look for in a vice presidential pick is the capability and the readiness to take over as president.

Can you look the country straight in the eye and say Sarah Palin has the qualities and has enough experience to be commander in chief?

MCCAIN: Oh, absolutely. Having been the governor of our largest state, the commander of their National Guard, she was once in charge of their natural resources assets, actually, until she found out there was corruption and she quit and said it had to be fixed.

Of course, it helps to be a mayor. When I think people compare her experience, in fact, and accomplishments, I think ethics in lobbying reform in a state that was beset by the influence of special interests, cutting taxes, giving the citizens back money.

I mean, she's got an incredible resume, including a beautiful family and a wonderful, loving, caring family. So I will think that, over time, people will compare her accomplishments with that of Sen. Obama, and his are very meager.

GIBSON: But he's been vetted. Nineteen months he's been debating...

MCCAIN: Sure.

GIBSON: ... in front of this country, 18 million times, the primaries people voted for him.

With her, we have your say-so.

MCCAIN: Well, the people of Alaska have vetted her. That's why she has an 80 percent approval rating.

The American people are going to vet her in the next couple of months, as we know, starting tonight. She has a proven record.

And, again, I don't like to make these comparisons. She's had positions of responsibility and authority. In all due respect to my friend, Joe Biden, he's never been executive of anything nor...

GIBSON: Neither have you.

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MCCAIN: ... has Sen. Obama. Oh, I've commanded the largest squadron in the U.S. Navy, with huge responsibilities, many -- it's -- it was a leadership job, but it was also a huge responsibility.

So millions and millions of dollars of American assets and 1,000 men and women who were serving, I think that's enormous responsibility and I'm very proud of it.

GIBSON: Senator Obama makes the case he's CEO of a campaign, with a budget, multiple sized the budget of the state of Alaska.

MCCAIN: Sen. Obama, excuse me, has a campaign to run. Gov. Sarah Palin has 24,000 employees in the state government. They are -- she's responsible for 20 percent of America's energy supply.

I'm entertained by the comparison and I hope we can keep making that comparison that running a political campaign is somehow comparable to being the executive of the largest state in America.

That's entertaining.

GIBSON: But as you know, the questions revolve really around foreign policy experience.

Can you honestly say you feel confident having someone who hasn't traveled outside the United States until last year, dealing with an insurgent Russia, with an Iran with nuclear ambitions, with an unstable Pakistan, not to mention the war on terror?

MCCAIN: Sure. And one of the key elements of America's national security requirements are energy. She understands the energy issues better than anybody I know in Washington, D.C., and she understands.

Alaska is right next to Russia. She understands that. Look, Sen. Obama's never visited south of our border. I mean, please.

So she is experienced. She's talented. She knows how to lead and she has been vetted by the people of the state of Alaska. But most importantly, people in America want change. They don't want somebody from inside the beltway.

They want people who will come and stand up for change and do whatever is necessary.

She took on her own party. You'd have to describe to me one occasion where Sen. Obama took on anybody, any powerful interest in his own party.

GIBSON: But you criticized, for a long time, Sen. Obama...

MCCAIN: Sure.

GIBSON: ... based on his lack of experience...

MCCAIN: Sure.

GIBSON: ... in your words...

MCCAIN: Yes.

GIBSON: ... with the foreign policy area. Jan. 6, I'm quoting you, "Sen. Obama does not have the national security experience and background to be president."