Feb. 26 Democratic debate transcript

Russert: Senator Obama, let me ask you about motivating, inspiring, keeping your word. Nothing more important.
Last year you said if you were the nominee you would opt for public financing in the general election of the campaign, try to get some of the money out. You checked "yes" on a questionnaire.

And now Senator McCain has said, calling your bluff, let's do it. You seem to be waffling, saying, well, if we can work on an arrangement here.

Why won't you keep your word in writing that you made to abide by public financing of the fall election?

Sen. Obama: Tim, I am not yet the nominee. And what I have said is, when I am the nominee, if I am the nominee -- because we've still got a bunch of contests left, and Senator Clinton is a pretty tough opponent -- if I am the nominee, then I will sit down with John McCain and make sure that we have a system that is fair for both sides. Because, Tim, as you know, there are all sorts of ways of getting around these loopholes.

Senator McCain is trying to explain some of the things that he has done so far, where he accepted public financing money but people aren't exactly clear whether all of the t's were crossed and the i's were dotted. Now, what I want to point out, though, more broadly is how we have approached this campaign.

I said very early on I would not take PAC money, I would not take money from federal registered lobbyists. That was a multi-million- dollar decision, but it was the right thing to do. And the reason we were able to do that was because I had confidence that the American people, if they were motivated, would, in fact, finance the campaign.

We have now raised 90 percent of our donations from small donors, $25, $50. We average -- our average donation is $109. So we have built the kind of organization that is funded by the American people that is exactly the goal and the aim of everybody who's interested in good government and politics that works.

Russert: So you may opt out of public financing. You may break your word.

Sen. Obama: What I've said is, at the point where I'm the nominee, at the point where it's appropriate, I will sit down with John McCain and make sure that we have a system that woks for everybody.

Russert: Senator Clinton, an issue of accountability and credibility.
You have loaned your campaign $5 million. You and your husband file a joint return. You refuse to relation that joint return, even though former President Clinton has had significantly overseas business dealings.

Your chief supporter here in Ohio, Governor Strickland, made releasing his opponent's tax return one of the primary issues of the campaign, saying repeatedly, "accountability," "transparency." "If he's not releasing," his campaign said, "his tax return, what is he hiding? We should question what's going on."

Why won't you release your tax return so the voters of Ohio, Texas, Vermont, Rhode Island know exactly where you and your husband got your money, who might be in part bankrolling your campaign?

Sen. Clinton: Well, the American people who support me are bankrolling my campaign. That's obvious. You can look and see the hundreds of thousands of contributions that I've gotten.

And ever since I lent my campaign money, people have responded just so generously. I'm thrilled at so many people getting involved. And we're raising on average about a million dollars a day on the Internet.

And if anybody's out there who wants to contribute, to be part of this campaign, just go to HillaryClinton.com, because that's who's funding my campaign.

And I will release my tax runs. I have consistently said that.

Russert: Why not now?

Sen. Clinton: Well, I will do it as others have done it, upon becoming the nominee or even earlier, Tim, because I have been as open as I can be. The public has 20 years of records from me. And I have very extensive filings with the Senate where you can see...

Russert: So before next Tuesday's primary?