Transcript: Sen. John McCain

MCCAIN: I think that the Obama campaign should and will give all information necessary. You know, in all due respect to the Republican National Committee and anybody -- right now, I think we should try to be working constructively together, not only on an issue such as this, but on the economy stimulus package, reforms that are necessary. And so, I don't know all the details of the relationship between President-elect Obama's campaign or his people and the governor of Illinois, but I have some confidence that all the information will come out. It always does, it seems to me.

STEPHANOPOULOS: Let me pick up on what you're just saying there, because I remember well back after Bill Clinton won in 1992, Senator Bob Dole said it was his job in the Senate to represent the 57 percent of the country who didn't vote for Bill Clinton. How do you define your role now as President-elect Obama heads to the White House and you're in the Senate?

MCCAIN: I think my job is, of course, to be a part of and hopefully exert some leadership in the loyal opposition. But I emphasize the word loyal. We haven't seen economic times like this in my lifetime. We haven't seen challenges abroad at the level that we are experiencing, certainly since the end of the Cold War, and you could argue in some respects that they're certainly more complex, many of these challenges. So let's have our first priority where we can work together, where we can -- I don't think the average citizen, who has either lost their home or is in danger of losing their home, lost their job or in danger of losing their job, cares much about party labels right now. What they care about, I think -- I know, I know, because I spent too much time on the campaign trail -- for us to sit down and work together. Will there be areas of disagreement? Of course. We are different parties and different philosophy. But the nation wants us to unite and work together.

STEPHANOPOULOS: Well, let's get to some specifics on that.

MCCAIN: Sure.

STEPHANOPOULOS: President-elect Obama has said his number one priority is an economic recovery package to create 2.5 million jobs. Take a look.

(BEGIN VIDEO CLIP)

OBAMA: We need to act with the urgency this moment demands to save or create at least 2.5 million jobs, so that the nearly 2 million Americans who've lost them know that they have a future. And that's exactly what I intend to do as president of the United States.

(END VIDEO CLIP)

STEPHANOPOULOS: He wants the Congress to get to work even before he's inaugurated. The plans are to build roads and bridges, have a new electric grid, energy-efficient buildings. It's likely to cost several hundred billion dollars. Can you sign on to this?

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