CNBC Press Releases

AP Presidential Candidate, John McCain

When: April 15th at 10:45AM ET
Where: CNBC's "Squawk on the Street"

Following is the unofficial transcript of a FIRST ON CNBC interview with Republican Presidential Candidate, Senator John McCain. During the interview, Senator McCain discusses his tax plan, the U.S. economy, government spending, the federal gas tax, his economic plan and airline consolidation, among other topics.

The full interview with Senator McCain will be available on CNBC.com.

All references must source CNBC.

HAINES: IN ANOTHER FIRST ON CNBC, JOHN HARWOOD IS IN PITTSBURGH RIGHT NOW WITH THE MAN OF THE HOUR. JOHN?

HARWOOD: THANK YOU, MARK. AND SENATOR, McCAIN, THANKS FOR JOINING US AND NICE TIE.

MCCAIN: THANK YOU, JOHN, YOU'VE GOT GOOD TASTE IN TIES.

HARWOOD: LET ME START WITH THE BROADEST POSSIBLE QUESTION. WHAT DO YOU SAY TO THE ARGUMENT THAT AS SOMEONE'S WHO EXPERTISE AND INSTINCTS ARE IN NATIONAL SECURITY, BUT YOU'RE THE WRONG GUY TO BE PRESIDENT AT THE TIME THE ECONOMY'S TURNING DOWN?

MCCAIN: MY INSTINCTS AND MY KNOWLEDGE AND BACKGROUND EXCEEDS MOST PEOPLE. I'VE BEEN INVOLVED IN THESE ISSUES FOR MANY, MANY YEARS, I KNOW THE ISSUES, I KNOW THE ECONOMY.

HARWOOD: AS YOU KNOW SOME OF YOUR OWN REMARKS FUELED THAT ISSUE, SAYING THAT YOU DIDN'T KNOW SO MUCH ABOUT THE ECONOMY

MCCAIN: SURE THAT'S ONE OF THE THINGS THAT HAPPENS. OCCASIONALLY IN LONG CONVERSATIONS. I AM OBVIOUSLY VERY KNOWLEDGEABLE ON NATIONAL SECURITY ISSUES BECAUSE I SPENT 22 YEARS IN THE MILITARY AND I'VE BEEN INVOLVED IN THOSE ISSUES. I'VE BEEN HEAVILY INVOLVED IN ECONOMIC ISSUES SINCE THE 1980s. I WAS THERE WHEN WE BEGAN THE GREATEST PERIOD OF ECONOMIC PROSPERITY, PERHAPS, IN AMERICA'S HISTORY. WHEN WE WERE IN TERRIBLE ECONOMIC SHAPE UNDER THE JIMMY CARTER ADMINISTRATION. SO I'M VERY FAMILIAR WITH THE ISSUES, I'M KNOWLEDGEABLE. AND I'M VERY CONFIDENT OF MY ABILITY TO STEWARD THESE POLICIES. AND ONE OF THE AREAS THAT I'VE BEEN A LEADER ON IS CUTTING, SPENDING, REMOVING EARMARKS, KEEPING TAXES LOW AND DOING THE THINGS THAT ARE NECESSARY TO MAKE AMERICA'S ECONOMY GROW. OUR PROBLEM IS NOT A LACK OF TAX REVENUES, OUR PROBLEM IS SPENDING. SINCE WE HAD A BALANCE BUDGET AGREEMENT WITH THEN PRESIDENT CLINTON IN 1998, GOVERNMENT SPENDING HAS INCREASED BY 70%. REVENUES HAVE GONE UP. BUT IT'S SPENDING. I KNOW HOW TO ATTACK WASTEFUL SPENDING AND MAKE THE GOVERNMENT MORE EFFICIENT.

HARWOOD: YOU OPPOSED PRESIDENT BUSH'S TAX CUTS IN 2001 IN THE NAME OF FISCAL RESPONSIBILITY AND ALSO THAT SOME OF THE BENEFITS WENT TOO MUCH TO PEOPLE AT THE TOP.

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