Transcript: Obama and Clinton Debate

GIBSON: Senator Obama?

OBAMA: Well, you know, I think that having the advice and counsel of all former presidents is important. I'm probably more likely to ask advice of the current president's father than the president himself, because I think that when you look back at George H.W. Bush's foreign policy, it was a wise foreign policy.

In how we executed the Gulf War, how we managed the transition out of the Cold War, I think is an example of how we can get bipartisan agreement. I don't think the Democrats have a monopoly on good ideas. I think that there are a lot of thoughtful Republicans out there.

The problem is, we've been locked in a divided politics for so long that we've stopped listening to each other. And I think that this president, in particular, has fed those divisions. That's something that we've tried to end in this campaign. And I think we're being successful.

GIBSON: All right. We're going to take one more commercial, but come back with a final question for both of you in just a moment.

(COMMERCIAL BREAK)

GIBSON: Final question now to finish what I think has been a fascinating debate. And I appreciate both of you being here, thanking you in advance.

It is hard to see how either one of you win this nomination on the basis of pledged delegates in primaries, and it could well come down to super-delegates. And I know you've been talking to them all along.

But let's say you're at the convention in Denver and you're talking to a group of 20 undecided super-delegates. How are you going to make the case to them why you're the better candidate and more electable in November? What do you say to them, minute-and-a-half each?

And by a flip of the coin, Senator Clinton goes first.

CLINTON: Well, I say to them what I've said to voters across America, that we need a fighter back in the White House. We need someone who's going to take on the special interests.

And I have a plan to take away $55 billion of the giveaways and the subsidies that the president and Congress have lavished on the drug companies, and the oil companies, and the insurance companies, and Wall Street.

And I have a plan to give that money back, give it back in tax cuts to the middle class, people who deserve it, who have been struggling under this president, who feel invisible, who feel like, you know, they're not even seen anymore.

And we're going to make everybody feel like they're part of the American family again. And we're going to tackle the problems that have been waiting for a champion back in the White House.

Now, obviously, I can't do this alone. I can only do it if I get people who believe in me, and support me, and who look at my track record and know that, you know, I've spent a lifetime trying to empower people, trying to fight for them.

And I think it's going to be challenging, but it is absolutely what we must do in order to keep faith with our country and to give our children the future that they deserve. So I will tell everyone who listens that I'm ready to be the commander-in-chief. I've 35 generals and admirals, including two former chairmen of the Joint Chiefs of Staff, General Wesley Clark and others, who believe that I am the person to lead us out of Iraq, to take on Al Qaida, to rebuild our military.

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