Look if the stock market tanks it will hurt Wall Street but most of all it hurts Main Street. The second thing is look, credit is drying up. I hear from people all the time, they’re small business people. We had a Small Business woman’s town hall yesterday. A number of women came up and said I can’t get credit; I’ve got to meet my payroll, of 5, 10, 15, 20 employees. The credit thing for Main Street is what is being affected dramatically here. All I can say here, and by the way it was the democrats in congress that when I warned and sponsored legislation to reign in Fannie and Freddy, these same democrats are not the one that are claiming credit for fixing the problems. They were part of the problem and Americans should know that.

GALLAGHER: And I think Americans are hearing that. I am glad in the era of you tube that all this video showing Barney Frank, and Maxine Waters, and Gregory Meeks, and other extolling the virtues of Fannie Mae and Freddie Mac when people like John McCain were sounding the warning call. I think Americans are getting that message loud and clear and I’m real pleased with that.

GALLAGHER: But I also know how John McCain hates pork. You always have, you have made a career of it, so you can’t like the 450 page of tax breaks for wool producers and wooden arrows for kids in this thing.

SEN. MCCAIN: It’s just, it’s disgraceful. It is an example of what has to be fixed in Washington. And most of the time, as you know, I vote against these pork laden bills and I get blamed. ‘Oh you’re hurting seniors or kids’ to whatever it is. But in this case I do think that we improved protections for taxpayers. The taxpayer will be bailed out first. If, when the economy recovers the taxpayer will be played back first. I do think that oversight has been improved; I do believe that transparency has been improved. I do believe that there have been improvements, several other improvements in this bill. It’s a tough call, but we have to go back and make sure that we have fixed the problem and a lot of that is through transparency and through better oversight, and hold people responsible mike. I understand the angst out there very well.

GALLAGHER: Yeah cause I’m hearing it every day. It’s like 10 -1 saying come on this is not conservatism. My listeners are saying from all over the country, I had Harvard economist on this week who said hey maybe bankruptcy’s the answer instead of a bailout because at least with bankruptcy another company absorbs the company and the markets will rebound.

SEN. MCCAIN: But if people can’t get loans, and that is happening today, if small business people can’t get loans to stay in business, which is exactly what’s happening because people can’t get credit, then we’ve got to, I mean if someone, people can’t get auto loans now to buy a new automobile. This, this system is freezing up. Its basically gridlock and we’ve got to undo it. But again I understand the angst, I hate it but I also think that if we don’t so this now we saw an indication of this a couple of days ago…

GALLAGHER: I know you’ve got to leave sir, but I’ve got to mention something about your vice presidential running mate. Sarah Palin is in Dallas today and I found out that Barack Obama on his website is encouraging people to go out and protest Sarah Palin outside the Fairmont hotel in Dallas. Boy if you want an example between a John McCain candidacy and a Barack Obama candidacy that’s one of them. I don’t ever see you putting on your official website urging people to go out and pick up picket signs urging people to go out and disrupt an Obama or a Joe Biden Event.

SEN. MCCAIN: Well you know they do that and it really, he also said I want you to go out ands get in their faces the other day or something like that and this is the guy who wants to bring the country together, He’s just inexperienced. A lot of it is just do to sheer inexperienced and not understanding the impact of words. It’s just like when he says he will lower taxes for 95% of the American people, he wants to increase spending by 860 billion dollars for 100% of the American people.

GALLAGHER: Exactly

SEN. MCCAIN: 860 billion dollars of new spending programs he has proposed and of course he has voted to increase taxes on individuals who make as little of forty two thousand dollars. He talks the talk and he hasn’t walked the walk.

GALLAGHER: Senator John McCain I hope I get to go to Washington in January to attend your inauguration. We’re pulling for you, we’re praying for you, and you keep fighting the good fight Sir.

SEN. MCCAIN: Thank you my fried we will keep fighting and we’ll put our country first and I am so proud of Sarah Palin last night.