Transcript: National Security Adviser Gen. James Jones and Sen. John McCain, R-Ariz.

Now, I don't agree with my daughter on specific issues. I still love my daughter and I respect her views and I think there is a place for her in the Republican Party. I do. I think we've got to broaden our - enlarge our tent and at the same time stick to our fundamental principles which are right of center. And I don't - it's not that hard, I don't think, except that we've got to do a better of job of saying, for example, Hispanic voters in my state and in the Southwest are pro-life, small business, low taxes, patriotic, et cetera.

We should be able to get a lot more Hispanic participation in the Republican Party.

STEPHANOPOULOS: Well, Senator, thank you very much. We'll see if it happens in the future.

You mentioned your daughter. Let me also wish a happy Mother's Day to your mom, Roberta, 97, still going strong. I read she's going back to Europe again in the fall?

MCCAIN: Thanks. She is. And she is incredibly active. It's great to be with you, George.

STEPHANOPOULOS: Good to see you, Senator.

MCCAIN: Thank you.

STEPHANOPOULOS: The roundtable is next with George Will, Cokie Roberts, Sam Donaldson, and Robert Reich.

And late, the "Sunday Funnies."

(COMMERCIAL BREAK)

STEPHANOPOULOS: We will be right back with the roundtable and the "Sunday Funnies."

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

OBAMA: In the next hundred days, I will learn to go off the prompter, and Joe Biden will learn to stay on the prompter.

(LAUGHTER)

OBAMA: In the next 100 days, our bipartisan outreach will be so successful that even John Boehner will consider becoming a Democrat. After all, we have a lot in common. He is a person of color.

(LAUGHTER)

OBAMA: Although not a color that appears in the natural world.

(LAUGHTER)

OBAMA: The next 100 days, we will house train our dog Bo. Because the last thing Tim Geithner needs is someone else treating him like a fire hydrant.

(LAUGHTER)

(END VIDEO CLIP)

STEPHANOPOULOS: President Obama cracking himself up last night at the White House Correspondents Dinner. We're going to talk about that in a little bit. But let me bring in the roundtable right now. I've got George Will, as always, Robert Reich from the American Prospect and Berkeley, Sam Donaldson, and Cokie Roberts.

And we will get to the jokes later, everybody rate the president as joke-teller in chief. But let's begin with the economy. The president was in a much more somber mood on Friday when we got these unemployment numbers. A little bit better than expected, but still pretty tough news. More than 500,000 jobs lost.

Here was the president.

(BEGIN VIDEO CLIP)

OBAMA: Although we have a long way to go before we can put this recession behind us, the gears of our economic engine do appear to slowly -- to be slowly turning once again. Consumer spending and home sales are stabilizing, construction spending is up for the first time in six months.

(END VIDEO CLIP)

STEPHANOPOULOS: Maybe the slip there, George, is revealing. There has been a lot of good signs lately in the economy, but no one knows how soon we're really going to be able to turn out of this.

WILL: On the one hand, it's difficult to stop the American people from creating wealth, we're an industrious people with a continental market.

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