Former Sen. Jim Webb Eyes 2016

The former Democratic senator on his possible White House run, the debate over Iran, and his populist economic pitch.
6:45 | 03/15/15

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Transcript for Former Sen. Jim Webb Eyes 2016
that I'm still the only person ever elected to state-wide office in Virginia with a union card, two purple hearts, and three tattoos. That is Jim Webb on the trail this week, running a most unconventional run for president. He's an unconventional guy. Vietnam war hero. Reagan's Navy secretary. Writer of ten books and a film, too. He left the senate after one term. Your early support will be crucial, as I evaluate whether we might overcome what many commentators see as nearly impossible odds. That announcement took many by surprise. The question now is, is he serious about challenging Hillary? And will democrats respond to this call? Will you have the courage to provide a voice in the corridors of power for those who otherwise will have no voice? And Jim Webb joins us now. Welcome back, senator. Good to see you. We saw the vid. Your speech to the firefighters union. What are you up to, exactly? We're actually truly exploring whether it is possible to conduct a viable campaign in this present environment where money is flooding the political process. Is it possible? I think it might be. We're listening. We've been around. We've got a lot of support. People coming across e-mails and internet. For me, we need to be focusing on theñop dysfunction that's occurred in our economic system. And also when you look at what you were just discussing with the Iran situation, the true constitutional challenges and the relationship between the president and the congress. I want to ask you about that. You have written on Iran in the past. About congress becoming complacent. Do you support the initiative? It's interesting. I worked with bob corker a lot. We were on the foreign relations committee. He did not sign the letter addressed to the government of Iran, which I think was just a silly mistake. Sending the letter or not signing? Sending the letter was a serious error if the republicans wanted to address this issue. I -- all the way back to the bush administration on the strategic framework agreement in Iraq, when president Obama went to Copenhagen and announced he was going to bring back on climate change, a binding agreement without consulting congress, I wrote a letter to him on that. The situation in Libya, with the unilateral use of force. At a time when there were no treaties in effect. No Americans at risk. I was very strong on that. Bob corker and I were together. There's a legitimacy here in the notion that the executive branch has to come to the congress on the issues thatfá impact the congress. Even if in this case there won't be a deal? I think you need to bring these things to the congress. The strategic framework with Iraq. With the bush administration, we did not get a full discussion of that or the possibility of voting on it. The Iraqi parliament voted on it twice. The idea that the executive branch can negotiate these comprehensive agreements without the full participation of the congress I think is a bad idea. In the speech we showed, you talked about powerful financial interests spending billions to think that the current situation is okay. Who are the press and how are they encouraging a aristocracy? I think if you see what has been happening to our country over the past 20 or 25 years, or so, with the economic model. First, the model itself has broken apart. The traditional model has broken apart. The -- employment model that was based on full-time employment, manufacturing base, taking care of your working people fell apart a lot when the manufacturing sector was hurt so bad in the past 20 years. The other thing is, if you have capital, if you have assets, you're doing pretty well. The stock market has almost tripled since April 2009. This is particularly true with the generation coming into full adulthood. They don't have that model anymore. They were doing part-time jobs, consultancy jobs. They have student loans to pay off. They're wondering whether they're going to be able to get a home. How can you fix it? You have to level the playing field in terms of how we take care of working people. Full time. Good job. The system is, in a way, becoming rigged against working people. They're getting these part-time jobs. My oldest daughter is a good example. She works for the disabled American veterans. She loves her job. She's brought on as a consultant. She has to pay her own self-employment tax. She doesn't have medical. She doesn't have retirement. This is becoming a model for the generation that's coming along. The other part of it is, the people at the top have moved away from everyone else in our society. And the benefits they're receiving. Largely through stock options and executive compensation that would never have existed 30 years ago when they were measuring corporate -- corporate compensation by the earnings of the corporation rather than the price of the stocks. I know you have been reluctant to speak about Hillary Clinton. You have had tough words about the Clintons in the past. Owe wrote they were the most corrupt administration in modern memory. That bill and Hillary's misadventures in the white house were convinced that the law didn't apply to them? To you stand by those words? I think we threw a lot of bombs in that period. I think what we need to do is look forward now. I think the American people want to hear from all of the candidates about the issues that will concern us in the future. The one thing I think I can bring to the table is that I have a long history of leadership. I was raised to be a leader, in the military. Four years in the committee counsel in congress. Five years in the Pentagon. Not just one term. Six years in the senate. When people have come to me as I have done this committee is we trust you. I don't always agree with you all the time, but I trust you. Sounds like you're ready to do this. I'm enjoying getting out and listening to people. We're going to South Carolina this week. We're going to be in Iowa in April. New Hampshire in may. We'll see how it goes. If we can get the support, we'll continue to move forward. We'll be watching. Senator Webb, thank you for coming in. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

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