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HOLT Well, I don't expect us to cover all the issues of this campaign tonight, but I remind everyone, there are two more presidential debates scheduled.
HOLT We are going to focus on many of the issues that voters tell us are most important, and we're going to press for specifics.
HOLT I am honored to have this role, but this evening belongs to the candidates and, just as important, to the American people.
HOLT Candidates, we look forward to hearing you articulate your policies and your positions, as well as your visions and your values.
HOLT So, let's begin.
HOLT We're calling this opening segment "Achieving Prosperity".
HOLT And central to that is jobs.
HOLT There are two economic realities in America today.
HOLT There's been a record six straight years of job growth, and new census numbers show incomes have increased at a record rate after years of stagnation.
HOLT However, income inequality remains significant, and nearly half of Americans are living paycheck to paycheck.
HOLT Beginning with you, Secretary Clinton, why are you a better choice than your opponent to create the kinds of jobs that will put more money into the pockets of American works?
CLINTON Well, thank you, Lester, and thanks to Hofstra for hosting us.
CLINTON The central question in this election is really what kind of country we want to be and what kind of future we'll build together.
CLINTON Today is my granddaughter's second birthday, so I think about this a lot.
CLINTON First, we have to build an economy that works for everyone, not just those at the top.
CLINTON That means we need new jobs, good jobs, with rising incomes.
CLINTON I want us to invest in you.
CLINTON I want us to invest in your future.
CLINTON That means jobs in infrastructure, in advanced manufacturing, innovation and technology, clean, renewable energy, and small business, because most of the new jobs will come from small business.
CLINTON We also have to make the economy fairer.
CLINTON That starts with raising the national minimum wage and also guarantee, finally, equal pay for women's work.
CLINTON I also want to see more companies do profit-sharing.
CLINTON If you help create the profits, you should be able to share in them, not just the executives at the top.
CLINTON And I want us to do more to support people who are struggling to balance family and work.
CLINTON I've heard from so many of you about the difficult choices you face and the stresses that you're under.
CLINTON So let's have paid family leave, earned sick days.
CLINTON Let's be sure we have affordable child care and debt-free college.
CLINTON How are we going to do it?
CLINTON We're going to do it by having the wealthy pay their fair share and close the corporate loopholes.
CLINTON Finally, we tonight are on the stage together, Donald Trump and I. Donald, it's good to be with you.
CLINTON We're going to have a debate where we are talking about the important issues facing our country.
CLINTON You have to judge us, who can shoulder the immense, awesome responsibilities of the presidency, who can put into action the plans that will make your life better.
CLINTON I hope that I will be able to earn your vote on November 8th.
HOLT Secretary Clinton, thank you.
HOLT Mr. Trump, the same question to you.
HOLT It's about putting money — more money into the pockets of American workers.
HOLT You have up to two minutes.
TRUMP Thank you, Lester.
TRUMP Our jobs are fleeing the country.
TRUMP They're going to Mexico.
TRUMP They're going to many other countries.
TRUMP You look at what China is doing to our country in terms of making our product.
TRUMP They're devaluing their currency, and there's nobody in our government to fight them.
TRUMP And we have a very good fight.
TRUMP And we have a winning fight.
TRUMP Because they're using our country as a piggy bank to rebuild China, and many other countries are doing the same thing.
TRUMP So we're losing our good jobs, so many of them.
TRUMP When you look at what's happening in Mexico, a friend of mine who builds plants said it's the eighth wonder of the world.
TRUMP They're building some of the biggest plants anywhere in the world, some of the most sophisticated, some of the best plants.
TRUMP With the United States, as he said, not so much.
TRUMP So Ford is leaving.
TRUMP You see that, their small car division leaving.
TRUMP Thousands of jobs leaving Michigan, leaving Ohio.
TRUMP They're all leaving.
TRUMP And we can't allow it to happen anymore.
TRUMP As far as child care is concerned and so many other things, I think Hillary and I agree on that.
TRUMP We probably disagree a little bit as to numbers and amounts and what we're going to do, but perhaps we'll be talking about that later.
TRUMP But we have to stop our jobs from being stolen from us.
TRUMP We have to stop our companies from leaving the United States and, with it, firing all of their people.
TRUMP All you have to do is take a look at Carrier air conditioning in Indianapolis.
TRUMP They left — fired 1,400 people.
TRUMP They're going to Mexico.
TRUMP So many hundreds and hundreds of companies are doing this.
TRUMP We cannot let it happen.
TRUMP Under my plan, I'll be reducing taxes tremendously, from 35 percent to 15 percent for companies, small and big businesses.
TRUMP That's going to be a job creator like we haven't seen since Ronald Reagan.
TRUMP It's going to be a beautiful thing to watch.
TRUMP Companies will come.
TRUMP They will build.
TRUMP They will expand.
TRUMP New companies will start.
TRUMP And I look very, very much forward to doing it.
TRUMP We have to renegotiate our trade deals, and we have to stop these countries from stealing our companies and our jobs.
HOLT Secretary Clinton, would you like to respond?
CLINTON Well, I think that trade is an important issue.
CLINTON Of course, we are 5 percent of the world's population; we have to trade with the other 95 percent.
CLINTON And we need to have smart, fair trade deals.
CLINTON We also, though, need to have a tax system that rewards work and not just financial transactions.
CLINTON And the kind of plan that Donald has put forth would be trickle-down economics all over again.
CLINTON In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we've ever had.
CLINTON I call it trumped-up trickle-down, because that's exactly what it would be.
CLINTON That is not how we grow the economy.
CLINTON We just have a different view about what's best for growing the economy, how we make investments that will actually produce jobs and rising incomes.
CLINTON I think we come at it from somewhat different perspectives.
CLINTON I understand that.
CLINTON You know, Donald was very fortunate in his life, and that's all to his benefit.
CLINTON He started his business with $14 million, borrowed from his father, and he really believes that the more you help wealthy people, the better off we'll be and that everything will work out from there.
CLINTON I don't buy that.
CLINTON I have a different experience.
CLINTON My father was a small-businessman.
CLINTON He worked really hard.
CLINTON He printed drapery fabrics on long tables, where he pulled out those fabrics and he went down with a silkscreen and dumped the paint in and took the squeegee and kept going.
CLINTON And so what I believe is the more we can do for the middle class, the more we can invest in you, your education, your skills, your future, the better we will be off and the better we'll grow.
CLINTON That's the kind of economy I want us to see again.
HOLT Let me follow up with Mr. Trump, if you can.
HOLT You've talked about creating 25 million jobs, and you've promised to bring back millions of jobs for Americans.
HOLT How are you going to bring back the industries that have left this country for cheaper labor overseas?
HOLT How, specifically, are you going to tell American manufacturers that you have to come back?
TRUMP Well, for one thing — and before we start on that — my father gave me a very small loan in 1975, and I built it into a company that's worth many, many billions of dollars, with some of the greatest assets in the world, and I say that only because that's the kind of thinking that our country needs.
TRUMP Our country's in deep trouble.
TRUMP We don't know what we're doing when it comes to devaluations and all of these countries all over the world, especially China.
TRUMP They're the best, the best ever at it.
TRUMP What they're doing to us is a very, very sad thing.
TRUMP So we have to do that.
TRUMP We have to renegotiate our trade deals.
TRUMP And, Lester, they're taking our jobs, they're giving incentives, they're doing things that, frankly, we don't do.
TRUMP Let me give you the example of Mexico.
TRUMP They have a VAT tax.
TRUMP We're on a different system.
TRUMP When we sell into Mexico, there's a tax.
TRUMP When they sell in — automatic, 16 percent, approximately.
TRUMP When they sell into us, there's no tax.
TRUMP It's a defective agreement.
TRUMP It's been defective for a long time, many years, but the politicians haven't done anything about it.
TRUMP Now, in all fairness to Secretary Clinton — yes, is that OK?
TRUMP I want you to be very happy.
TRUMP It's very important to me.
TRUMP But in all fairness to Secretary Clinton, when she started talking about this, it was really very recently.
TRUMP She's been doing this for 30 years.
TRUMP And why hasn't she made the agreements better?
TRUMP The NAFTA agreement is defective.
TRUMP Just because of the tax and many other reasons, but just because of the fact.
HOLT Let me interrupt just a moment, but.
TRUMP Secretary Clinton and others, politicians, should have been doing this for years, not right now, because of the fact that we've created a movement.
TRUMP They should have been doing this for years.
TRUMP What's happened to our jobs and our country and our economy generally is — look, we owe $20 trillion.
TRUMP We cannot do it any longer, Lester.
HOLT Back to the question, though.
HOLT How do you bring back — specifically bring back jobs, American manufacturers?
HOLT How do you make them bring the jobs back?
TRUMP Well, the first thing you do is don't let the jobs leave.
TRUMP The companies are leaving.
TRUMP I could name, I mean, there are thousands of them.
TRUMP They're leaving, and they're leaving in bigger numbers than ever.
TRUMP And what you do is you say, fine, you want to go to Mexico or some other country, good luck.
TRUMP We wish you a lot of luck.
TRUMP But if you think you're going to make your air conditioners or your cars or your cookies or whatever you make and bring them into our country without a tax, you're wrong.
TRUMP And once you say you're going to have to tax them coming in, and our politicians never do this, because they have special interests and the special interests want those companies to leave, because in many cases, they own the companies.
TRUMP So what I'm saying is, we can stop them from leaving.
TRUMP We have to stop them from leaving.
TRUMP And that's a big, big factor.
HOLT Let me let Secretary Clinton get in here.
CLINTON Well, let's stop for a second and remember where we were eight years ago.
CLINTON We had the worst financial crisis, the Great Recession, the worst since the 1930s.
CLINTON That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.
CLINTON In fact, Donald was one of the people who rooted for the housing crisis.
CLINTON He said, back in 2006, "Gee, I hope it does collapse, because then I can go in and buy some and make some money".
CLINTON Well, it did collapse.
TRUMP That's called business, by the way.
CLINTON Nine million people — nine million people lost their jobs.
CLINTON Five million people lost their homes.
CLINTON And $13 trillion in family wealth was wiped out.
CLINTON Now, we have come back from that abyss.
CLINTON And it has not been easy.
CLINTON So we're now on the precipice of having a potentially much better economy, but the last thing we need to do is to go back to the policies that failed us in the first place.
CLINTON Independent experts have looked at what I've proposed and looked at what Donald's proposed, and basically they've said this, that if his tax plan, which would blow up the debt by over $5 trillion and would in some instances disadvantage middle-class families compared to the wealthy, were to go into effect, we would lose 3.
CLINTON 5 million jobs and maybe have another recession.
CLINTON They've looked at my plans and they've said, OK, if we can do this, and I intend to get it done, we will have 10 million more new jobs, because we will be making investments where we can grow the economy.
CLINTON Take clean energy.
CLINTON Some country is going to be the clean- energy superpower of the 21st century.
CLINTON Donald thinks that climate change is a hoax perpetrated by the Chinese.
CLINTON I think it's real.
TRUMP I did not.
TRUMP I did not.
TRUMP I do not say that.
CLINTON I think science is real.
TRUMP I do not say that.
CLINTON And I think it's important that we grip this and deal with it, both at home and abroad.
CLINTON And here's what we can do.
CLINTON We can deploy a half a billion more solar panels.
CLINTON We can have enough clean energy to power every home.
CLINTON We can build a new modern electric grid.
CLINTON That's a lot of jobs; that's a lot of new economic activity.
CLINTON So I've tried to be very specific about what we can and should do, and I am determined that we're going to get the economy really moving again, building on the progress we've made over the last eight years, but never going back to what got us in trouble in the first place.
HOLT Mr. Trump?
TRUMP She talks about solar panels.
TRUMP We invested in a solar company, our country.
TRUMP That was a disaster.
TRUMP They lost plenty of money on that one.
TRUMP Now, look, I'm a great believer in all forms of energy, but we're putting a lot of people out of work.
TRUMP Our energy policies are a disaster.
TRUMP Our country is losing so much in terms of energy, in terms of paying off our debt.
TRUMP You can't do what you're looking to do with $20 trillion in debt.
TRUMP The Obama administration, from the time they've come in, is over 230 years' worth of debt, and he's topped it.
TRUMP He's doubled it in a course of almost eight years, seven-and-a-half years, to be semi- exact.
TRUMP So I will tell you this.
TRUMP We have to do a much better job at keeping our jobs.
TRUMP And we have to do a much better job at giving companies incentives to build new companies or to expand, because they're not doing it.
TRUMP And all you have to do is look at Michigan and look at Ohio and look at all of these places where so many of their jobs and their companies are just leaving, they're gone.
TRUMP And, Hillary, I'd just ask you this.
TRUMP You've been doing this for 30 years.
TRUMP Why are you just thinking about these solutions right now?
TRUMP For 30 years, you've been doing it, and now you're just starting to think of solutions.
CLINTON Well, actually.
TRUMP I will bring — excuse me.
TRUMP I will bring back jobs.
TRUMP You can't bring back jobs.
CLINTON Well, actually, I have thought about this quite a bit.
TRUMP Yeah, for 30 years.
CLINTON And I have — well, not quite that long.
CLINTON I think my husband did a pretty good job in the 1990s.
CLINTON I think a lot about what worked and how we can make it work again.
TRUMP Well, he approved NAFTA.
CLINTON million new jobs, a balanced budget.
TRUMP He approved NAFTA, which is the single worst trade deal ever approved in this country.
CLINTON Incomes went up for everybody.
CLINTON Manufacturing jobs went up also in the 1990s, if we're actually going to look at the facts.
CLINTON When I was in the Senate, I had a number of trade deals that came before me, and I held them all to the same test.
CLINTON Will they create jobs in America?
CLINTON Will they raise incomes in America?
CLINTON And are they good for our national security?
CLINTON Some of them I voted for.
CLINTON The biggest one, a multinational one known as CAFTA, I voted against.
CLINTON And because I hold the same standards as I look at all of these trade deals.
CLINTON But let's not assume that trade is the only challenge we have in the economy.
CLINTON I think it is a part of it, and I've said what I'm going to do.
CLINTON I'm going to have a special prosecutor.
CLINTON We're going to enforce the trade deals we have, and we're going to hold people accountable.
CLINTON When I was secretary of state, we actually increased American exports globally 30 percent.
CLINTON We increased them to China 50 percent.
CLINTON So I know how to really work to get new jobs and to get exports that helped to create more new jobs.
HOLT Very quickly.
TRUMP But you haven't done it in 30 years or 26 years or any number you want to.
CLINTON Well, I've been a senator, Donald.
TRUMP You haven't done it.
TRUMP You haven't done it.
CLINTON And I have been a secretary of state.
TRUMP Excuse me.
CLINTON And I have done a lot.
TRUMP Your husband signed NAFTA, which was one of the worst things that ever happened to the manufacturing industry.
CLINTON Well, that's your opinion.
CLINTON That is your opinion.
TRUMP You go to New England, you go to Ohio, Pennsylvania, you go anywhere you want, Secretary Clinton, and you will see devastation where manufacture is down 30, 40, sometimes 50 percent.
TRUMP NAFTA is the worst trade deal maybe ever signed anywhere, but certainly ever signed in this country.
TRUMP And now you want to approve Trans-Pacific Partnership.
TRUMP You were totally in favor of it.
TRUMP Then you heard what I was saying, how bad it is, and you said, I can't win that debate.
TRUMP But you know that if you did win, you would approve that, and that will be almost as bad as NAFTA.
TRUMP Nothing will ever top NAFTA.
CLINTON Well, that is just not accurate.
CLINTON I was against it once it was finally negotiated and the terms were laid out.
CLINTON I wrote about that in.
TRUMP You called it the gold standard.
TRUMP You called it the gold standard of trade deals.
TRUMP You said it's the finest deal you've ever seen.
TRUMP And then you heard what I said about it, and all of a sudden you were against it.
CLINTON Well, Donald, I know you live in your own reality, but that is not the facts.
CLINTON The facts are — I did say I hoped it would be a good deal, but when it was negotiated.
CLINTON which I was not responsible for, I concluded it wasn't.
CLINTON I wrote about that in my book.
TRUMP So is it President Obama's fault?
CLINTON before you even announced.
TRUMP Is it President Obama's fault?
CLINTON Look, there are differences.
TRUMP Secretary, is it President Obama's fault?
CLINTON There are.
TRUMP Because he's pushing it.
CLINTON There are different views about what's good for our country, our economy, and our leadership in the world.
CLINTON And I think it's important to look at what we need to do to get the economy going again.
CLINTON That's why I said new jobs with rising incomes, investments, not in more tax cuts that would add $5 trillion to the debt.
TRUMP But you have no plan.
CLINTON But in — oh, but I do.
TRUMP Secretary, you have no plan.
CLINTON In fact, I have written a book about it.
CLINTON It's called "Stronger Together".
CLINTON You can pick it up tomorrow at a bookstore.
TRUMP That's about all you've.
HOLT Folks, we're going to.
CLINTON or at an airport near you.
HOLT We're going to move to.
CLINTON But it's because I see this — we need to have strong growth, fair growth, sustained growth.
CLINTON We also have to look at how we help families balance the responsibilities at home and the responsibilities at business.
CLINTON So we have a very robust set of plans.
CLINTON And people have looked at both of our plans, have concluded that mine would create 10 million jobs and yours would lose us 3.
CLINTON 5 million jobs, and explode the debt which would have a recession.
TRUMP You are going to approve one of the biggest tax cuts in history.
TRUMP You are going to approve one of the biggest tax increases in history.
TRUMP You are going to drive business out.
TRUMP Your regulations are a disaster, and you're going to increase regulations all over the place.
TRUMP And by the way, my tax cut is the biggest since Ronald Reagan.
TRUMP I'm very proud of it.
TRUMP It will create tremendous numbers of new jobs.
TRUMP But regulations, you are going to regulate these businesses out of existence.
TRUMP When I go around — Lester, I tell you this, I've been all over.
TRUMP And when I go around, despite the tax cut, the thing — the things that business as in people like the most is the fact that I'm cutting regulation.
TRUMP You have regulations on top of regulations, and new companies cannot form and old companies are going out of business.
TRUMP And you want to increase the regulations and make them even worse.
TRUMP I'm going to cut regulations.
TRUMP I'm going to cut taxes big league, and you're going to raise taxes big league, end of story.
HOLT Let me get you to pause right there, because we're going to move into — we're going to move into the next segment.
HOLT We're going to talk taxes.
CLINTON That can't — that can't be left to stand.
HOLT Please just take 30 seconds and then we're going to go on.
CLINTON I kind of assumed that there would be a lot of these charges and claims, and so.
TRUMP Facts.
CLINTON So we have taken the home page of my website,, and we've turned it into a fact-checker.
CLINTON So if you want to see in real-time what the facts are, please go and take a look.
CLINTON Because what I have proposed.
TRUMP And take a look at mine, also, and you'll see.
CLINTON would not add a penny to the debt, and your plans would add $5 trillion to the debt.
CLINTON What I have proposed would cut regulations and streamline them for small businesses.
CLINTON What I have proposed would be paid for by raising taxes on the wealthy, because they have made all the gains in the economy.
CLINTON And I think it's time that the wealthy and corporations paid their fair share to support this country.
HOLT Well, you just opened the next segment.
TRUMP Well, could I just finish — I think I..
HOLT I'm going to give you a chance right here.
TRUMP I think I should — you go to her website, and you take a look at her website.
HOLT with a new 15-minute segment.
TRUMP She's going to raise taxes $1.
TRUMP 3 trillion.
HOLT Mr. Trump, I'm going to.
TRUMP And look at her website.
TRUMP You know what?
TRUMP It's no difference than this.
TRUMP She's telling us how to fight ISIS.
TRUMP Just go to her website.
TRUMP She tells you how to fight ISIS on her website.
TRUMP I don't think General Douglas MacArthur would like that too much.
HOLT The next segment, we're continuing.
CLINTON Well, at least I have a plan to fight ISIS.
HOLT achieving prosperity.
TRUMP No, no, you're telling the enemy everything you want to do.
CLINTON No, we're not.
CLINTON No, we're not.
TRUMP See, you're telling the enemy everything you want to do.
TRUMP No wonder you've been fighting — no wonder you've been fighting ISIS your entire adult life.
CLINTON That's a — that's — go to the — please, fact checkers, get to work.
HOLT OK, you are unpacking a lot here.
HOLT And we're still on the issue of achieving prosperity.
HOLT And I want to talk about taxes.
HOLT The fundamental difference between the two of you concerns the wealthy.
HOLT Secretary Clinton, you're calling for a tax increase on the wealthiest Americans.
HOLT I'd like you to further defend that.
HOLT And, Mr. Trump, you're calling for tax cuts for the wealthy.
HOLT I'd like you to defend that.
HOLT And this next two-minute answer goes to you, Mr. Trump.
TRUMP Well, I'm really calling for major jobs, because the wealthy are going create tremendous jobs.
TRUMP They're going to expand their companies.
TRUMP They're going to do a tremendous job.
TRUMP I'm getting rid of the carried interest provision.
TRUMP And if you really look, it's not a tax — it's really not a great thing for the wealthy.
TRUMP It's a great thing for the middle class.
TRUMP It's a great thing for companies to expand.
TRUMP And when these people are going to put billions and billions of dollars into companies, and when they're going to bring $2.
TRUMP 5 trillion back from overseas, where they can't bring the money back, because politicians like Secretary Clinton won't allow them to bring the money back, because the taxes are so onerous, and the bureaucratic red tape, so what — is so bad.
TRUMP So what they're doing is they're leaving our country, and they're, believe it or not, leaving because taxes are too high and because some of them have lots of money outside of our country.
TRUMP And instead of bringing it back and putting the money to work, because they can't work out a deal to — and everybody agrees it should be brought back.
TRUMP Instead of that, they're leaving our country to get their money, because they can't bring their money back into our country, because of bureaucratic red tape, because they can't get together.
TRUMP Because we have — we have a president that can't sit them around a table and get them to approve something.
TRUMP And here's the thing.
TRUMP Republicans and Democrats agree that this should be done, $2.
TRUMP 5 trillion.
TRUMP I happen to think it's double that.
TRUMP It's probably $5 trillion that we can't bring into our country, Lester.
TRUMP And with a little leadership, you'd get it in here very quickly, and it could be put to use on the inner cities and lots of other things, and it would be beautiful.
TRUMP But we have no leadership.
TRUMP And honestly, that starts with Secretary Clinton.
HOLT All right.
HOLT You have two minutes of the same question to defend tax increases on the wealthiest Americans, Secretary Clinton.
CLINTON I have a feeling that by, the end of this evening, I'm going to be blamed for everything that's ever happened.
TRUMP Why not?
CLINTON Why not?
CLINTON Yeah, why not?
CLINTON You know, just join the debate by saying more crazy things.
CLINTON Now, let me say this, it is absolutely the case.
TRUMP There's nothing crazy about not letting our companies bring their money back into their country.
HOLT This is — this is Secretary Clinton's two minutes, please.
CLINTON Yeah, well, let's start the clock again, Lester.
CLINTON We've looked at your tax proposals.
CLINTON I don't see changes in the corporate tax rates or the kinds of proposals you're referring to that would cause the repatriation, bringing back of money that's stranded overseas.
CLINTON I happen to support that.
TRUMP Then you didn't read it.
CLINTON I happen to — I happen to support that in a way that will actually work to our benefit.
CLINTON But when I look at what you have proposed, you have what is called now the Trump loophole, because it would so advantage you and the business you do.
CLINTON You've proposed an approach that has a.
TRUMP Who gave it that name?
TRUMP The first I've — who gave it that name?
HOLT Mr. Trump, this is Secretary Clinton's two minutes.
CLINTON $4 billion tax benefit for your family.
CLINTON And when you look at what you are proposing.
TRUMP How much?
TRUMP How much for my family?
CLINTON it is.
TRUMP Lester, how much?
CLINTON as I said, trumped-up trickle-down.
CLINTON Trickle-down did not work.
CLINTON It got us into the mess we were in, in 2008 and 2009.
CLINTON Slashing taxes on the wealthy hasn't worked.
CLINTON And a lot of really smart, wealthy people know that.
CLINTON And they are saying, hey, we need to do more to make the contributions we should be making to rebuild the middle class.
CLINTON I don't think top-down works in America.
CLINTON I think building the middle class, investing in the middle class, making college debt-free so more young people can get their education, helping people refinance their — their debt from college at a lower rate.
CLINTON Those are the kinds of things that will really boost the economy.
CLINTON Broad-based, inclusive growth is what we need in America, not more advantages for people at the very top.
HOLT Mr. Trump, we're.
TRUMP Typical politician.
TRUMP All talk, no action.
TRUMP Sounds good, doesn't work.
TRUMP Never going to happen.
TRUMP Our country is suffering because people like Secretary Clinton have made such bad decisions in terms of our jobs and in terms of what's going on.
TRUMP Now, look, we have the worst revival of an economy since the Great Depression.
TRUMP And believe me: We're in a bubble right now.
TRUMP And the only thing that looks good is the stock market, but if you raise interest rates even a little bit, that's going to come crashing down.
TRUMP We are in a big, fat, ugly bubble.
TRUMP And we better be awfully careful.
TRUMP And we have a Fed that's doing political things.
TRUMP This Janet Yellen of the Fed.
TRUMP The Fed is doing political — by keeping the interest rates at this level.
TRUMP And believe me: The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, you're going to see some very bad things happen, because the Fed is not doing their job.
TRUMP The Fed is being more political than Secretary Clinton.
HOLT Mr. Trump, we're talking about the burden that Americans have to pay, yet you have not released your tax returns.
HOLT And the reason nominees have released their returns for decades is so that voters will know if their potential president owes money to — who he owes it to and any business conflicts.
HOLT Don't Americans have a right to know if there are any conflicts of interest?
TRUMP I don't mind releasing — I'm under a routine audit.
TRUMP And it'll be released.
TRUMP And — as soon as the audit's finished, it will be released.
TRUMP But you will learn more about Donald Trump by going down to the federal elections, where I filed a 104-page essentially financial statement of sorts, the forms that they have.
TRUMP It shows income — in fact, the income — I just looked today — the income is filed at $694 million for this past year, $694 million.
TRUMP If you would have told me I was going to make that 15 or 20 years ago, I would have been very surprised.
TRUMP But that's the kind of thinking that our country needs.
TRUMP When we have a country that's doing so badly, that's being ripped off by every single country in the world, it's the kind of thinking that our country needs, because everybody — Lester, we have a trade deficit with all of the countries that we do business with, of almost $800 billion a year.
TRUMP You know what that is?
TRUMP That means, who's negotiating these trade deals?
TRUMP We have people that are political hacks negotiating our trade deals.
HOLT The IRS says an audit.
TRUMP Excuse me.
HOLT of your taxes — you're perfectly free to release your taxes during an audit.
HOLT And so the question, does the public's right to know outweigh your personal.
TRUMP Well, I told you, I will release them as soon as the audit.
TRUMP Look, I've been under audit almost for 15 years.
TRUMP I know a lot of wealthy people that have never been audited.
TRUMP I said, do you get audited?
TRUMP I get audited almost every year.
TRUMP And in a way, I should be complaining.
TRUMP I'm not even complaining.
TRUMP I don't mind it.
TRUMP It's almost become a way of life.
TRUMP I get audited by the IRS.
TRUMP But other people don't.
TRUMP I will say this.
TRUMP We have a situation in this country that has to be taken care of.
TRUMP I will release my tax returns — against my lawyer's wishes — when she releases her 33,000 e-mails that have been deleted.
TRUMP As soon as she releases them, I will release.
TRUMP I will release my tax returns.
TRUMP And that's against — my lawyers, they say, "Don't do it".
TRUMP I will tell you this.
TRUMP No — in fact, watching shows, they're reading the papers.
TRUMP Almost every lawyer says, you don't release your returns until the audit's complete.
TRUMP When the audit's complete, I'll do it.
TRUMP But I would go against them if she releases her e-mails.
HOLT So it's negotiable?
TRUMP It's not negotiable, no.
TRUMP Let her release the e-mails.
TRUMP Why did she delete 33,000.
HOLT Well, I'll let her answer that.
HOLT But let me just admonish the audience one more time.
HOLT There was an agreement.
HOLT We did ask you to be silent, so it would be helpful for us.
HOLT Secretary Clinton?
CLINTON Well, I think you've seen another example of bait-and- switch here.
CLINTON For 40 years, everyone running for president has released their tax returns.
CLINTON You can go and see nearly, I think, 39, 40 years of our tax returns, but everyone has done it.
CLINTON We know the IRS has made clear there is no prohibition on releasing it when you're under audit.
CLINTON So you've got to ask yourself, why won't he release his tax returns?
CLINTON And I think there may be a couple of reasons.
CLINTON First, maybe he's not as rich as he says he is.
CLINTON Second, maybe he's not as charitable as he claims to be.
CLINTON Third, we don't know all of his business dealings, but we have been told through investigative reporting that he owes about $650 million to Wall Street and foreign banks.
CLINTON Or maybe he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes, because the only years that anybody's ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license, and they showed he didn't pay any federal income tax.
TRUMP That makes me smart.
CLINTON So if he's paid zero, that means zero for troops, zero for vets, zero for schools or health.
CLINTON And I think probably he's not all that enthusiastic about having the rest of our country see what the real reasons are, because it must be something really important, even terrible, that he's trying to hide.
CLINTON And the financial disclosure statements, they don't give you the tax rate.
CLINTON They don't give you all the details that tax returns would.
CLINTON And it just seems to me that this is something that the American people deserve to see.
CLINTON And I have no reason to believe that he's ever going to release his tax returns, because there's something he's hiding.
CLINTON And we'll guess.
CLINTON We'll keep guessing at what it might be that he's hiding.
CLINTON But I think the question is, were he ever to get near the White House, what would be those conflicts?
CLINTON Who does he owe money to?
CLINTON Well, he owes you the answers to that, and he should provide them.
HOLT He also — he also raised the issue of your e-mails.
HOLT Do you want to respond to that?
CLINTON You know, I made a mistake using a private e- mail.
TRUMP That's for sure.
CLINTON And if I had to do it over again, I would, obviously, do it differently.
CLINTON But I'm not going to make any excuses.
CLINTON It was a mistake, and I take responsibility for that.
HOLT Mr. Trump?
TRUMP That was more than a mistake.
TRUMP That was done purposely.
TRUMP That was not a mistake.
TRUMP That was done purposely.
TRUMP When you have your staff taking the Fifth Amendment, taking the Fifth so they're not prosecuted, when you have the man that set up the illegal server taking the Fifth, I think it's disgraceful.
TRUMP And believe me, this country thinks it's — really thinks it's disgraceful, also.
TRUMP As far as my tax returns, you don't learn that much from tax returns.
TRUMP That I can tell you.
TRUMP You learn a lot from financial disclosure.
TRUMP And you should go down and take a look at that.
TRUMP The other thing, I'm extremely underleveraged.
TRUMP The report that said $650 — which, by the way, a lot of friends of mine that know my business say, boy, that's really not a lot of money.
TRUMP It's not a lot of money relative to what I had.
TRUMP The buildings that were in question, they said in the same report, which was — actually, it wasn't even a bad story, to be honest with you, but the buildings are worth $3.
TRUMP 9 billion.
TRUMP And the $650 isn't even on that.
TRUMP But it's not $650.
TRUMP It's much less than that.
TRUMP But I could give you a list of banks, I would — if that would help you, I would give you a list of banks.
TRUMP These are very fine institutions, very fine banks.
TRUMP I could do that very quickly.
TRUMP I am very underleveraged.
TRUMP I have a great company.
TRUMP I have a tremendous income.
TRUMP And the reason I say that is not in a braggadocios way.
TRUMP It's because it's about time that this country had somebody running it that has an idea about money.
TRUMP When we have $20 trillion in debt, and our country's a mess, you know, it's one thing to have $20 trillion in debt and our roads are good and our bridges are good and everything's in great shape, our airports.
TRUMP Our airports are like from a third world country.
TRUMP You land at LaGuardia, you land at Kennedy, you land at LAX, you land at Newark, and you come in from Dubai and Qatar and you see these incredible — you come in from China, you see these incredible airports, and you land — we've become a third world country.
TRUMP So the worst of all things has happened.
TRUMP We owe $20 trillion, and we're a mess.
TRUMP We haven't even started.
TRUMP And we've spent $6 trillion in the Middle East, according to a report that I just saw.
TRUMP Whether it's 6 or 5, but it looks like it's 6, $6 trillion in the Middle East, we could have rebuilt our country twice.
TRUMP And it's really a shame.
TRUMP And it's politicians like Secretary Clinton that have caused this problem.
TRUMP Our country has tremendous problems.
TRUMP We're a debtor nation.
TRUMP We're a serious debtor nation.
TRUMP And we have a country that needs new roads, new tunnels, new bridges, new airports, new schools, new hospitals.
TRUMP And we don't have the money, because it's been squandered on so many of your ideas.
HOLT We'll let you respond and we'll move on to the next segment.
CLINTON And maybe because you haven't paid any federal income tax for a lot of years.
CLINTON And the other thing I think is important.
TRUMP It would be squandered, too, believe me.
CLINTON is if your — if your main claim to be president of the United States is your business, then I think we should talk about that.
CLINTON You know, your campaign manager said that you built a lot of businesses on the backs of little guys.
CLINTON And, indeed, I have met a lot of the people who were stiffed by you and your businesses, Donald.
CLINTON I've met dishwashers, painters, architects, glass installers, marble installers, drapery installers, like my dad was, who you refused to pay when they finished the work that you asked them to do.
CLINTON We have an architect in the audience who designed one of your clubhouses at one of your golf courses.
CLINTON It's a beautiful facility.
CLINTON It immediately was put to use.
CLINTON And you wouldn't pay what the man needed to be paid, what he was charging you to do.
TRUMP Maybe he didn't do a good job and I was unsatisfied with his work.
CLINTON Well, to.
TRUMP Which our country should do, too.
CLINTON Do the thousands of people that you have stiffed over the course of your business not deserve some kind of apology from someone who has taken their labor, taken the goods that they produced, and then refused to pay them?
CLINTON I can only say that I'm certainly relieved that my late father never did business with you.
CLINTON He provided a good middle-class life for us, but the people he worked for, he expected the bargain to be kept on both sides.
CLINTON And when we talk about your business, you've taken business bankruptcy six times.
CLINTON There are a lot of great businesspeople that have never taken bankruptcy once.
CLINTON You call yourself the King of Debt.
CLINTON You talk about leverage.
CLINTON You even at one time suggested that you would try to negotiate down the national debt of the United States.
TRUMP Wrong.
TRUMP Wrong.
CLINTON Well, sometimes there's not a direct transfer of skills from business to government, but sometimes what happened in business would be really bad for government.
HOLT Let's let Mr. Trump.
CLINTON And we need to be very clear about that.
TRUMP So, yeah, I think — I do think it's time.
TRUMP Look, it's all words, it's all sound bites.
TRUMP I built an unbelievable company.
TRUMP Some of the greatest assets anywhere in the world, real estate assets anywhere in the world, beyond the United States, in Europe, lots of different places.
TRUMP It's an unbelievable company.
TRUMP But on occasion, four times, we used certain laws that are there.
TRUMP And when Secretary Clinton talks about people that didn't get paid, first of all, they did get paid a lot, but taken advantage of the laws of the nation.
TRUMP Now, if you want to change the laws, you've been there a long time, change the laws.
TRUMP But I take advantage of the laws of the nation because I'm running a company.
TRUMP My obligation right now is to do well for myself, my family, my employees, for my companies.
TRUMP And that's what I do.
TRUMP But what she doesn't say is that tens of thousands of people that are unbelievably happy and that love me.
TRUMP I'll give you an example.
TRUMP We're just opening up on Pennsylvania Avenue right next to the White House, so if I don't get there one way, I'm going to get to Pennsylvania Avenue another.
TRUMP But we're opening the Old Post Office.
TRUMP Under budget, ahead of schedule, saved tremendous money.
TRUMP I'm a year ahead of schedule.
TRUMP And that's what this country should be doing.
TRUMP We build roads and they cost two and three and four times what they're supposed to cost.
TRUMP We buy products for our military and they come in at costs that are so far above what they were supposed to be, because we don't have people that know what they're doing.
TRUMP When we look at the budget, the budget is bad to a large extent because we have people that have no idea as to what to do and how to buy.
TRUMP The Trump International is way under budget and way ahead of schedule.
TRUMP And we should be able to do that for our country.
HOLT Well, we're well behind schedule, so I want to move to our next segment.
HOLT We move into our next segment talking about America's direction.
HOLT And let's start by talking about race.
HOLT The share of Americans who say race relations are bad in this country is the highest it's been in decades, much of it amplified by shootings of African-Americans by police, as we've seen recently in Charlotte and Tulsa.
HOLT Race has been a big issue in this campaign, and one of you is going to have to bridge a very wide and bitter gap.
HOLT So how do you heal the divide?
HOLT Secretary Clinton, you get two minutes on this.
CLINTON Well, you're right.
CLINTON Race remains a significant challenge in our country.
CLINTON Unfortunately, race still determines too much, often determines where people live, determines what kind of education in their public schools they can get, and, yes, it determines how they're treated in the criminal justice system.
CLINTON We've just seen those two tragic examples in both Tulsa and Charlotte.
CLINTON And we've got to do several things at the same time.
CLINTON We have to restore trust between communities and the police.
CLINTON We have to work to make sure that our police are using the best training, the best techniques, that they're well prepared to use force only when necessary.
CLINTON Everyone should be respected by the law, and everyone should respect the law.
CLINTON Right now, that's not the case in a lot of our neighborhoods.
CLINTON So I have, ever since the first day of my campaign, called for criminal justice reform.
CLINTON I've laid out a platform that I think would begin to remedy some of the problems we have in the criminal justice system.
CLINTON But we also have to recognize, in addition to the challenges that we face with policing, there are so many good, brave police officers who equally want reform.
CLINTON So we have to bring communities together in order to begin working on that as a mutual goal.
CLINTON And we've got to get guns out of the hands of people who should not have them.
CLINTON The gun epidemic is the leading cause of death of young African- American men, more than the next nine causes put together.
CLINTON So we have to do two things, as I said.
CLINTON We have to restore trust.
CLINTON We have to work with the police.
CLINTON We have to make sure they respect the communities and the communities respect them.
CLINTON And we have to tackle the plague of gun violence, which is a big contributor to a lot of the problems that we're seeing today.
HOLT All right, Mr. Trump, you have two minutes.
HOLT How do you heal the divide?
TRUMP Well, first of all, Secretary Clinton doesn't want to use a couple of words, and that's law and order.
TRUMP And we need law and order.
TRUMP If we don't have it, we're not going to have a country.
TRUMP And when I look at what's going on in Charlotte, a city I love, a city where I have investments, when I look at what's going on throughout various parts of our country, whether it's — I mean, I can just keep naming them all day long — we need law and order in our country.
TRUMP I just got today the, as you know, the endorsement of the Fraternal Order of Police, we just — just came in.
TRUMP We have endorsements from, I think, almost every police group, very — I mean, a large percentage of them in the United States.
TRUMP We have a situation where we have our inner cities, African- Americans, Hispanics are living in he'll because it's so dangerous.
TRUMP You walk down the street, you get shot.
TRUMP In Chicago, they've had thousands of shootings, thousands since January 1st.
TRUMP Thousands of shootings.
TRUMP And I'm saying, where is this?
TRUMP Is this a war-torn country?
TRUMP What are we doing?
TRUMP And we have to stop the violence.
TRUMP We have to bring back law and order.
TRUMP In a place like Chicago, where thousands of people have been killed, thousands over the last number of years, in fact, almost 4,000 have been killed since Barack Obama became president, over — almost 4,000 people in Chicago have been killed.
TRUMP We have to bring back law and order.
TRUMP Now, whether or not in a place like Chicago you do stop and frisk, which worked very well, Mayor Giuliani is here, worked very well in New York.
TRUMP It brought the crime rate way down.
TRUMP But you take the gun away from criminals that shouldn't be having it.
TRUMP We have gangs roaming the street.
TRUMP And in many cases, they're illegally here, illegal immigrants.
TRUMP And they have guns.
TRUMP And they shoot people.
TRUMP And we have to be very strong.
TRUMP And we have to be very vigilant.
TRUMP We have to be — we have to know what we're doing.
TRUMP Right now, our police, in many cases, are afraid to do anything.
TRUMP We have to protect our inner cities, because African-American communities are being decimated by crime, decimated.
HOLT Your two — your two minutes expired, but I do want to follow up.
HOLT Stop-and-frisk was ruled unconstitutional in New York, because it largely singled out black and Hispanic young men.
TRUMP No, you're wrong.
TRUMP It went before a judge, who was a very against-police judge.
TRUMP It was taken away from her.
TRUMP And our mayor, our new mayor, refused to go forward with the case.
TRUMP They would have won an appeal.
TRUMP If you look at it, throughout the country, there are many places where it's allowed.
HOLT The argument is that it's a form of racial profiling.
TRUMP No, the argument is that we have to take the guns away from these people that have them and they are bad people that shouldn't have them.
TRUMP These are felons.
TRUMP These are people that are bad people that shouldn't be — when you have 3,000 shootings in Chicago from January 1st, when you have 4,000 people killed in Chicago by guns, from the beginning of the presidency of Barack Obama, his hometown, you have to have stop-and-frisk.
TRUMP You need more police.
TRUMP You need a better community, you know, relation.
TRUMP You don't have good community relations in Chicago.
TRUMP It's terrible.
TRUMP I have property there.
TRUMP It's terrible what's going on in Chicago.
TRUMP But when you look — and Chicago's not the only — you go to Ferguson, you go to so many different places.
TRUMP You need better relationships.
TRUMP I agree with Secretary Clinton on this.
TRUMP You need better relationships between the communities and the police, because in some cases, it's not good.
TRUMP But you look at Dallas, where the relationships were really studied, the relationships were really a beautiful thing, and then five police officers were killed one night very violently.
TRUMP So there's some bad things going on.
TRUMP Some really bad things.
HOLT Secretary Clinton.
TRUMP But we need — Lester, we need law and order.
TRUMP And we need law and order in the inner cities, because the people that are most affected by what's happening are African-American and Hispanic people.
TRUMP And it's very unfair to them what our politicians are allowing to happen.
HOLT Secretary Clinton?
CLINTON Well, I've heard — I've heard Donald say this at his rallies, and it's really unfortunate that he paints such a dire negative picture of black communities in our country.
CLINTON You know, the vibrancy of the black church, the black businesses that employ so many people, the opportunities that so many families are working to provide for their kids.
CLINTON There's a lot that we should be proud of and we should be supporting and lifting up.
CLINTON But we do always have to make sure we keep people safe.
CLINTON There are the right ways of doing it, and then there are ways that are ineffective.
CLINTON Stop-and-frisk was found to be unconstitutional and, in part, because it was ineffective.
CLINTON It did not do what it needed to do.
CLINTON Now, I believe in community policing.
CLINTON And, in fact, violent crime is one-half of what it was in 1991.
CLINTON Property crime is down 40 percent.
CLINTON We just don't want to see it creep back up.
CLINTON We've had 25 years of very good cooperation.
CLINTON But there were some problems, some unintended consequences.
CLINTON Too many young African-American and Latino men ended up in jail for nonviolent offenses.
CLINTON And it's just a fact that if you're a young African-American man and you do the same thing as a young white man, you are more likely to be arrested, charged, convicted, and incarcerated.
CLINTON So we've got to address the systemic racism in our criminal justice system.
CLINTON We cannot just say law and order.
CLINTON We have to say — we have to come forward with a plan that is going to divert people from the criminal justice system, deal with mandatory minimum sentences, which have put too many people away for too long for doing too little.
CLINTON We need to have more second chance programs.
CLINTON I'm glad that we're ending private prisons in the federal system; I want to see them ended in the state system.
CLINTON You shouldn't have a profit motivation to fill prison cells with young Americans.
CLINTON So there are some positive ways we can work on this.
CLINTON And I believe strongly that commonsense gun safety measures would assist us.
CLINTON Right now — and this is something Donald has supported, along with the gun lobby — right now, we've got too many military- style weapons on the streets.
CLINTON In a lot of places, our police are outgunned.
CLINTON We need comprehensive background checks, and we need to keep guns out of the hands of those who will do harm.
CLINTON And we finally need to pass a prohibition on anyone who's on the terrorist watch list from being able to buy a gun in our country.
CLINTON If you're too dangerous to fly, you are too dangerous to buy a gun.
CLINTON So there are things we can do, and we ought to do it in a bipartisan way.
HOLT Secretary Clinton, last week, you said we've got to do everything possible to improve policing, to go right at implicit bias.
HOLT Do you believe that police are implicitly biased against black people?
CLINTON Lester, I think implicit bias is a problem for everyone, not just police.
CLINTON I think, unfortunately, too many of us in our great country jump to conclusions about each other.
CLINTON And therefore, I think we need all of us to be asking hard questions about, you know, why am I feeling this way?
CLINTON But when it comes to policing, since it can have literally fatal consequences, I have said, in my first budget, we would put money into that budget to help us deal with implicit bias by retraining a lot of our police officers.
CLINTON I've met with a group of very distinguished, experienced police chiefs a few weeks ago.
CLINTON They admit it's an issue.
CLINTON They've got a lot of concerns.
CLINTON Mental health is one of the biggest concerns, because now police are having to handle a lot of really difficult mental health problems on the street.
CLINTON They want support, they want more training, they want more assistance.
CLINTON And I think the federal government could be in a position where we would offer and provide that.
HOLT Mr. Trump.
TRUMP I'd like to respond to that.
HOLT Please.
TRUMP First of all, I agree, and a lot of people even within my own party want to give certain rights to people on watch lists and no- fly lists.
TRUMP I agree with you.
TRUMP When a person is on a watch list or a no-fly list, and I have the endorsement of the NRA, which I'm very proud of.
TRUMP These are very, very good people, and they're protecting the Second Amendment.
TRUMP But I think we have to look very strongly at no-fly lists and watch lists.
TRUMP And when people are on there, even if they shouldn't be on there, we'll help them, we'll help them legally, we'll help them get off.
TRUMP But I tend to agree with that quite strongly.
TRUMP I do want to bring up the fact that you were the one that brought up the words super-predator about young black youth.
TRUMP And that's a term that I think was a — it's — it's been horribly met, as you know.
TRUMP I think you've apologized for it.
TRUMP But I think it was a terrible thing to say.
TRUMP And when it comes to stop-and-frisk, you know, you're talking about takes guns away.
TRUMP Well, I'm talking about taking guns away from gangs and people that use them.
TRUMP And I don't think — I really don't think you disagree with me on this, if you want to know the truth.
TRUMP I think maybe there's a political reason why you can't say it, but I really don't believe — in New York City, stop-and-frisk, we had 2,200 murders, and stop-and-frisk brought it down to 500 murders.
TRUMP Five hundred murders is a lot of murders.
TRUMP It's hard to believe, 500 is like supposed to be good?
TRUMP But we went from 2,200 to 500.
TRUMP And it was continued on by Mayor Bloomberg.
TRUMP And it was terminated by current mayor.
TRUMP But stop-and- frisk had a tremendous impact on the safety of New York City.
TRUMP Tremendous beyond belief.
TRUMP So when you say it has no impact, it really did.
TRUMP It had a very, very big impact.
CLINTON Well, it's also fair to say, if we're going to talk about mayors, that under the current mayor, crime has continued to drop, including murders.
CLINTON So there is.
TRUMP No, you're wrong.
TRUMP You're wrong.
CLINTON No, I'm not.
TRUMP Murders are up.
TRUMP All right.
TRUMP You check it.
CLINTON New York — New York has done an excellent job.
CLINTON And I give credit — I give credit across the board going back two mayors, two police chiefs, because it has worked.
CLINTON And other communities need to come together to do what will work, as well.
CLINTON Look, one murder is too many.
CLINTON But it is important that we learn about what has been effective.
CLINTON And not go to things that sound good that really did not have the kind of impact that we would want.
CLINTON Who disagrees with keeping neighborhoods safe?
CLINTON But let's also add, no one should disagree about respecting the rights of young men who live in those neighborhoods.
CLINTON And so we need to do a better job of working, again, with the communities, faith communities, business communities, as well as the police to try to deal with this problem.
HOLT This conversation is about race.
HOLT And so, Mr. Trump, I have to ask you for five.
TRUMP I'd like to just respond, if I might.
HOLT Please — 20 seconds.
TRUMP I'd just like to respond.
HOLT Please respond, then I've got a quick follow-up for you.
TRUMP I will.
TRUMP Look, the African-American community has been let down by our politicians.
TRUMP They talk good around election time, like right now, and after the election, they said, see ya later, I'll see you in four years.
TRUMP The African-American community — because — look, the community within the inner cities has been so badly treated.
TRUMP They've been abused and used in order to get votes by Democrat politicians, because that's what it is.
TRUMP They've controlled these communities for up to 100 years.
HOLT Mr. Trump, let me.
CLINTON Well, I — I do think.
TRUMP And I will tell you, you look at the inner cities — and I just left Detroit, and I just left Philadelphia, and I just — you know, you've seen me, I've been all over the place.
TRUMP You decided to stay home, and that's OK.
TRUMP But I will tell you, I've been all over.
TRUMP And I've met some of the greatest people I'll ever meet within these communities.
TRUMP And they are very, very upset with what their politicians have told them and what their politicians have done.
HOLT Mr. Trump, I..
CLINTON I think — I think — I think Donald just criticized me for preparing for this debate.
CLINTON And, yes, I did.
CLINTON And you know what else I prepared for?
CLINTON I prepared to be president.
CLINTON And I think that's a good thing.
HOLT Mr. Trump, for five years, you perpetuated a false claim that the nation's first black president was not a natural-born citizen.
HOLT You questioned his legitimacy.
HOLT In the last couple of weeks, you acknowledged what most Americans have accepted for years: The president was born in the United States.
HOLT Can you tell us what took you so long?
TRUMP I'll tell you very — well, just very simple to say.
TRUMP Sidney Blumenthal works for the campaign and close — very close friend of Secretary Clinton.
TRUMP And her campaign manager, Patti Doyle, went to — during the campaign, her campaign against President Obama, fought very hard.
TRUMP And you can go look it up, and you can check it out.
TRUMP And if you look at CNN this past week, Patti Solis Doyle was on Wolf Blitzer saying that this happened.
TRUMP Blumenthal sent McClatchy, highly respected reporter at McClatchy, to Kenya to find out about it.
TRUMP They were pressing it very hard.
TRUMP She failed to get the birth certificate.
TRUMP When I got involved, I didn't fail.
TRUMP I got him to give the birth certificate.
TRUMP So I'm satisfied with it.
TRUMP And I'll tell you why I'm satisfied with it.
HOLT That was.
TRUMP Because I want to get on to defeating ISIS, because I want to get on to creating jobs, because I want to get on to having a strong border, because I want to get on to things that are very important to me and that are very important to the country.
HOLT I will let you respond.
HOLT It's important.
HOLT But I just want to get the answer here.
HOLT The birth certificate was produced in 2011.
HOLT You've continued to tell the story and question the president's legitimacy in 2012, '13, '14, '15.
HOLT as recently as January.
HOLT So the question is, what changed your mind?
TRUMP Well, nobody was pressing it, nobody was caring much about it.
TRUMP I figured you'd ask the question tonight, of course.
TRUMP But nobody was caring much about it.
TRUMP But I was the one that got him to produce the birth certificate.
TRUMP And I think I did a good job.
TRUMP Secretary Clinton also fought it.
TRUMP I mean, you know — now, everybody in mainstream is going to say, oh, that's not true.
TRUMP Look, it's true.
TRUMP Sidney Blumenthal sent a reporter — you just have to take a look at CNN, the last week, the interview with your former campaign manager.
TRUMP And she was involved.
TRUMP But just like she can't bring back jobs, she can't produce.
HOLT I'm sorry.
HOLT I'm just going to follow up — and I will let you respond to that, because there's a lot there.
HOLT But we're talking about racial healing in this segment.
HOLT What do you say to Americans, people of color who.
TRUMP Well, it was very — I say nothing.
TRUMP I say nothing, because I was able to get him to produce it.
TRUMP He should have produced it a long time before.
TRUMP I say nothing.
TRUMP But let me just tell you.
TRUMP When you talk about healing, I think that I've developed very, very good relationships over the last little while with the African-American community.
TRUMP I think you can see that.
TRUMP And I feel that they really wanted me to come to that conclusion.
TRUMP And I think I did a great job and a great service not only for the country, but even for the president, in getting him to produce his birth certificate.
HOLT Secretary Clinton?
CLINTON Well, just listen to what you heard.
CLINTON And clearly, as Donald just admitted, he knew he was going to stand on this debate stage, and Lester Holt was going to be asking us questions, so he tried to put the whole racist birther lie to bed.
CLINTON But it can't be dismissed that easily.
CLINTON He has really started his political activity based on this racist lie that our first black president was not an American citizen.
CLINTON There was absolutely no evidence for it, but he persisted, he persisted year after year, because some of his supporters, people that he was trying to bring into his fold, apparently believed it or wanted to believe it.
CLINTON But, remember, Donald started his career back in 1973 being sued by the Justice Department for racial discrimination because he would not rent apartments in one of his developments to African-Americans, and he made sure that the people who worked for him understood that was the policy.
CLINTON He actually was sued twice by the Justice Department.
CLINTON So he has a long record of engaging in racist behavior.
CLINTON And the birther lie was a very hurtful one.
CLINTON You know, Barack Obama is a man of great dignity.
CLINTON And I could tell how much it bothered him and annoyed him that this was being touted and used against him.
CLINTON But I like to remember what Michelle Obama said in her amazing speech at our Democratic National Convention: When they go low, we go high.
CLINTON And Barack Obama went high, despite Donald Trump's best efforts to bring him down.
HOLT Mr. Trump, you can respond and we're going to move on to the next segment.
TRUMP I would love to respond.
TRUMP First of all, I got to watch in preparing for this some of your debates against Barack Obama.
TRUMP You treated him with terrible disrespect.
TRUMP And I watched the way you talk now about how lovely everything is and how wonderful you are.
TRUMP It doesn't work that way.
TRUMP You were after him, you were trying to — you even sent out or your campaign sent out pictures of him in a certain garb, very famous pictures.
TRUMP I don't think you can deny that.
TRUMP But just last week, your campaign manager said it was true.
TRUMP So when you tried to act holier than thou, it really doesn't work.
TRUMP It really doesn't.
TRUMP Now, as far as the lawsuit, yes, when I was very young, I went into my father's company, had a real estate company in Brooklyn and Queens, and we, along with many, many other companies throughout the country — it was a federal lawsuit — were sued.
TRUMP We settled the suit with zero — with no admission of guilt.
TRUMP It was very easy to do.
TRUMP I notice you bring that up a lot.
TRUMP And, you know, I also notice the very nasty commercials that you do on me in so many different ways, which I don't do on you.
TRUMP Maybe I'm trying to save the money.
TRUMP But, frankly, I look — I look at that, and I say, isn't that amazing?
TRUMP Because I settled that lawsuit with no admission of guilt, but that was a lawsuit brought against many real estate firms, and it's just one of those things.
TRUMP I'll go one step further.
TRUMP In Palm Beach, Florida, tough community, a brilliant community, a wealthy community, probably the wealthiest community there is in the world, I opened a club, and really got great credit for it.
TRUMP No discrimination against African- Americans, against Muslims, against anybody.
TRUMP And it's a tremendously successful club.
TRUMP And I'm so glad I did it.
TRUMP And I have been given great credit for what I did.
TRUMP And I'm very, very proud of it.
TRUMP And that's the way I feel.
TRUMP That is the true way I feel.
HOLT Our next segment is called "Securing America".
HOLT We want to start with a 21st century war happening every day in this country.
HOLT Our institutions are under cyber attack, and our secrets are being stolen.
HOLT So my question is, who's behind it?
HOLT And how do we fight it?
HOLT Secretary Clinton, this answer goes to you.
CLINTON Well, I think cyber security, cyber warfare will be one of the biggest challenges facing the next president, because clearly we're facing at this point two different kinds of adversaries.
CLINTON There are the independent hacking groups that do it mostly for commercial reasons to try to steal information that they can use to make money.
CLINTON But increasingly, we are seeing cyber attacks coming from states, organs of states.
CLINTON The most recent and troubling of these has been Russia.
CLINTON There's no doubt now that Russia has used cyber attacks against all kinds of organizations in our country, and I am deeply concerned about this.
CLINTON I know Donald's very praiseworthy of Vladimir Putin, but Putin is playing a really.
CLINTON tough, long game here.
CLINTON And one of the things he's done is to let loose cyber attackers to hack into government files, to hack into personal files, hack into the Democratic National Committee.
CLINTON And we recently have learned that, you know, that this is one of their preferred methods of trying to wreak havoc and collect information.
CLINTON We need to make it very clear — whether it's Russia, China, Iran or anybody else — the United States has much greater capacity.
CLINTON And we are not going to sit idly by and permit state actors to go after our information, our private-sector information or our public-sector information.
CLINTON And we're going to have to make it clear that we don't want to use the kinds of tools that we have.
CLINTON We don't want to engage in a different kind of warfare.
CLINTON But we will defend the citizens of this country.
CLINTON And the Russians need to understand that.
CLINTON I think they've been treating it as almost a probing, how far would we go, how much would we do.
CLINTON And that's why I was so — I was so shocked when Donald publicly invited Putin to hack into Americans.
CLINTON That is just unacceptable.
CLINTON It's one of the reasons why 50 national security officials who served in Republican information — in administrations.
HOLT Your two minutes have expired.
CLINTON have said that Donald is unfit to be the commander- in-chief.
CLINTON It's comments like that that really worry people who understand the threats that we face.
HOLT Mr. Trump, you have two minutes and the same question.
HOLT Who's behind it?
HOLT And how do we fight it?
TRUMP I do want to say that I was just endorsed — and more are coming next week — it will be over 200 admirals, many of them here — admirals and generals endorsed me to lead this country.
TRUMP That just happened, and many more are coming.
TRUMP And I'm very proud of it.
TRUMP In addition, I was just endorsed by ICE.
TRUMP They've never endorsed anybody before on immigration.
TRUMP I was just endorsed by ICE.
TRUMP I was just recently endorsed — 16,500 Border Patrol agents.
TRUMP So when Secretary Clinton talks about this, I mean, I'll take the admirals and I'll take the generals any day over the political hacks that I see that have led our country so brilliantly over the last 10 years with their knowledge.
TRUMP Because look at the mess that we're in.
TRUMP Look at the mess that we're in.
TRUMP As far as the cyber, I agree to parts of what Secretary Clinton said.
TRUMP We should be better than anybody else, and perhaps we're not.
TRUMP I don't think anybody knows it was Russia that broke into the DNC.
TRUMP She's saying Russia, Russia, Russia, but I don't — maybe it was.
TRUMP I mean, it could be Russia, but it could also be China.
TRUMP It could also be lots of other people.
TRUMP It also could be somebody sitting on their bed that weighs 400 pounds, OK?
TRUMP You don't know who broke in to DNC.
TRUMP But what did we learn with DNC?
TRUMP We learned that Bernie Sanders was taken advantage of by your people, by Debbie Wasserman Schultz.
TRUMP Look what happened to her.
TRUMP But Bernie Sanders was taken advantage of.
TRUMP That's what we learned.
TRUMP Now, whether that was Russia, whether that was China, whether it was another country, we don't know, because the truth is, under President Obama we've lost control of things that we used to have control over.
TRUMP We came in with the Internet, we came up with the Internet, and I think Secretary Clinton and myself would agree very much, when you look at what ISIS is doing with the Internet, they're beating us at our own game.
TRUMP So we have to get very, very tough on cyber and cyber warfare.
TRUMP It is — it is a huge problem.
TRUMP I have a son.
TRUMP He's 10 years old.
TRUMP He has computers.
TRUMP He is so good with these computers, it's unbelievable.
TRUMP The security aspect of cyber is very, very tough.
TRUMP And maybe it's hardly doable.
TRUMP But I will say, we are not doing the job we should be doing.
TRUMP But that's true throughout our whole governmental society.
TRUMP We have so many things that we have to do better, Lester, and certainly cyber is one of them.
HOLT Secretary Clinton?
CLINTON Well, I think there are a number of issues that we should be addressing.
CLINTON I have put forth a plan to defeat ISIS.
CLINTON It does involve going after them online.
CLINTON I think we need to do much more with our tech companies to prevent ISIS and their operatives from being able to use the Internet to radicalize, even direct people in our country and Europe and elsewhere.
CLINTON But we also have to intensify our air strikes against ISIS and eventually support our Arab and Kurdish partners to be able to actually take out ISIS in Raqqa, end their claim of being a Caliphate.
CLINTON We're making progress.
CLINTON Our military is assisting in Iraq.
CLINTON And we're hoping that within the year we'll be able to push ISIS out of Iraq and then, you know, really squeeze them in Syria.
CLINTON But we have to be cognizant of the fact that they've had foreign fighters coming to volunteer for them, foreign money, foreign weapons, so we have to make this the top priority.
CLINTON And I would also do everything possible to take out their leadership.
CLINTON I was involved in a number of efforts to take out Al Qaida leadership when I was secretary of state, including, of course, taking out bin Laden.
CLINTON And I think we need to go after Baghdadi, as well, make that one of our organizing principles.
CLINTON Because we've got to defeat ISIS, and we've got to do everything we can to disrupt their propaganda efforts online.
HOLT You mention ISIS, and we think of ISIS certainly as over there, but there are American citizens who have been inspired to commit acts of terror on American soil, the latest incident, of course, the bombings we just saw in New York and New Jersey, the knife attack at a mall in Minnesota, in the last year, deadly attacks in San Bernardino and Orlando.
HOLT I'll ask this to both of you.
HOLT Tell us specifically how you would prevent homegrown attacks by American citizens, Mr. Trump?
TRUMP Well, first I have to say one thing, very important.
TRUMP Secretary Clinton is talking about taking out ISIS.
TRUMP "We will take out ISIS".
TRUMP Well, President Obama and Secretary Clinton created a vacuum the way they got out of Iraq, because they got out — what, they shouldn't have been in, but once they got in, the way they got out was a disaster.
TRUMP And ISIS was formed.
TRUMP So she talks about taking them out.
TRUMP She's been doing it a long time.
TRUMP She's been trying to take them out for a long time.
TRUMP But they wouldn't have even been formed if they left some troops behind, like 10,000 or maybe something more than that.
TRUMP And then you wouldn't have had them.
TRUMP Or, as I've been saying for a long time, and I think you'll agree, because I said it to you once, had we taken the oil — and we should have taken the oil — ISIS would not have been able to form either, because the oil was their primary source of income.
TRUMP And now they have the oil all over the place, including the oil — a lot of the oil in Libya, which was another one of her disasters.
HOLT Secretary Clinton?
CLINTON Well, I hope the fact-checkers are turning up the volume and really working hard.
CLINTON Donald supported the invasion of Iraq.
TRUMP Wrong.
CLINTON That is absolutely proved over and over again.
TRUMP Wrong.
TRUMP Wrong.
CLINTON He actually advocated for the actions we took in Libya and urged that Gadhafi be taken out, after actually doing some business with him one time.
CLINTON But the larger point — and he says this constantly — is George W. Bush made the agreement about when American troops would leave Iraq, not Barack Obama.
CLINTON And the only way that American troops could have stayed in Iraq is to get an agreement from the then-Iraqi government that would have protected our troops, and the Iraqi government would not give that.
CLINTON But let's talk about the question you asked, Lester.
CLINTON The question you asked is, what do we do here in the United States?
CLINTON That's the most important part of this.
CLINTON How do we prevent attacks?
CLINTON How do we protect our people?
CLINTON And I think we've got to have an intelligence surge, where we are looking for every scrap of information.
CLINTON I was so proud of law enforcement in New York, in Minnesota, in New Jersey.
CLINTON You know, they responded so quickly, so professionally to the attacks that occurred by Rahami.
CLINTON And they brought him down.
CLINTON And we may find out more information because he is still alive, which may prove to be an intelligence benefit.
CLINTON So we've got to do everything we can to vacuum up intelligence from Europe, from the Middle East.
CLINTON That means we've got to work more closely with our allies, and that's something that Donald has been very dismissive of.
CLINTON We're working with NATO, the longest military alliance in the history of the world, to really turn our attention to terrorism.
CLINTON We're working with our friends in the Middle East, many of which, as you know, are Muslim majority nations.
CLINTON Donald has consistently insulted Muslims abroad, Muslims at home, when we need to be cooperating with Muslim nations and with the American Muslim community.
CLINTON They're on the front lines.
CLINTON They can provide information to us that we might not get anywhere else.
CLINTON They need to have close working cooperation with law enforcement in these communities, not be alienated and pushed away as some of Donald's rhetoric, unfortunately, has led to.
HOLT Mr. Trump.
TRUMP Well, I have to respond.
HOLT Please respond.
TRUMP The secretary said very strongly about working with — we've been working with them for many years, and we have the greatest mess anyone's ever seen.
TRUMP You look at the Middle East, it's a total mess.
TRUMP Under your direction, to a large extent.
TRUMP But you look at the Middle East, you started the Iran deal, that's another beauty where you have a country that was ready to fall, I mean, they were doing so badly.
TRUMP They were choking on the sanctions.
TRUMP And now they're going to be actually probably a major power at some point pretty soon, the way they're going.
TRUMP But when you look at NATO, I was asked on a major show, what do you think of NATO?
TRUMP And you have to understand, I'm a businessperson.
TRUMP I did really well.
TRUMP But I have common sense.
TRUMP And I said, well, I'll tell you.
TRUMP I haven't given lots of thought to NATO.
TRUMP But two things.
TRUMP Number one, the 28 countries of NATO, many of them aren't paying their fair share.
TRUMP Number two — and that bothers me, because we should be asking — we're defending them, and they should at least be paying us what they're supposed to be paying by treaty and contract.
TRUMP And, number two, I said, and very strongly, NATO could be obsolete, because — and I was very strong on this, and it was actually covered very accurately in the New York Times, which is unusual for the New York Times, to be honest — but I said, they do not focus on terror.
TRUMP And I was very strong.
TRUMP And I said it numerous times.
TRUMP And about four months ago, I read on the front page of the Wall Street Journal that NATO is opening up a major terror division.
TRUMP And I think that's great.
TRUMP And I think we should get — because we pay approximately 73 percent of the cost of NATO.
TRUMP It's a lot of money to protect other people.
TRUMP But I'm all for NATO.
TRUMP But I said they have to focus on terror, also.
TRUMP And they're going to do that.
TRUMP And that was — believe me — I'm sure I'm not going to get credit for it — but that was largely because of what I was saying and my criticism of NATO.
TRUMP I think we have to get NATO to go into the Middle East with us, in addition to surrounding nations, and we have to knock the hell out of ISIS, and we have to do it fast, when ISIS formed in this vacuum created by Barack Obama and Secretary Clinton.
TRUMP And believe me, you were the ones that took out the troops.
TRUMP Not only that, you named the day.
TRUMP They couldn't believe it.
TRUMP They sat back probably and said, I can't believe it.
TRUMP They said.
CLINTON Lester, we've covered.
TRUMP No, wait a minute.
CLINTON We've covered this ground.
TRUMP When they formed, when they formed, this is something that never should have happened.
TRUMP It should have never happened.
TRUMP Now, you're talking about taking out ISIS.
TRUMP But you were there, and you were secretary of state when it was a little infant.
TRUMP Now it's in over 30 countries.
TRUMP And you're going to stop them?
TRUMP I don't think so.
HOLT Mr. Trump, a lot of these are judgment questions.
HOLT You had supported the war in Iraq before the invasion.
HOLT What makes your.
TRUMP I did not support the war in Iraq.
HOLT In 2002.
TRUMP That is a mainstream media nonsense put out by her, because she — frankly, I think the best person in her campaign is mainstream media.
HOLT My question is, since you supported it.
TRUMP Just — would you like to hear.
HOLT why is your — why is your judgment.
TRUMP Wait a minute.
TRUMP I was against the war in Iraq.
TRUMP Just so you put it out.
HOLT The record shows otherwise, but why — why was.
TRUMP The record does not show that.
HOLT Why was — is your judgment any.
TRUMP The record shows that I'm right.
TRUMP When I did an interview with Howard Stern, very lightly, first time anyone's asked me that, I said, very lightly, I don't know, maybe, who knows?
TRUMP Essentially.
TRUMP I then did an interview with Neil Cavuto.
TRUMP We talked about the economy is more important.
TRUMP I then spoke to Sean Hannity, which everybody refuses to call Sean Hannity.
TRUMP I had numerous conversations with Sean Hannity at Fox.
TRUMP And Sean Hannity said — and he called me the other day — and I spoke to him about it — he said you were totally against the war, because he was for the war.
HOLT Why is your judgment better than.
TRUMP And when he — excuse me.
TRUMP And that was before the war started.
TRUMP Sean Hannity said very strongly to me and other people — he's willing to say it, but nobody wants to call him.
TRUMP I was against the war.
TRUMP He said, you used to have fights with me, because Sean was in favor of the war.
TRUMP And I understand that side, also, not very much, because we should have never been there.
TRUMP But nobody called Sean Hannity.
TRUMP And then they did an article in a major magazine, shortly after the war started.
TRUMP I think in '04.
TRUMP But they did an article which had me totally against the war in Iraq.
TRUMP And one of your compatriots said, you know, whether it was before or right after, Trump was definitely — because if you read this article, there's no doubt.
TRUMP But if somebody — and I'll ask the press — if somebody would call up Sean Hannity, this was before the war started.
TRUMP He and I used to have arguments about the war.
TRUMP I said, it's a terrible and a stupid thing.
TRUMP It's going to destabilize the Middle East.
TRUMP And that's exactly what it's done.
TRUMP It's been a disaster.
HOLT My reference was to what you had said in 2002, and my question was.
TRUMP No, no.
TRUMP You didn't hear what I said.
HOLT Why is your judgment — why is your judgment any different than Mrs. Clinton's judgment?
TRUMP Well, I have much better judgment than she does.
TRUMP There's no question about that.
TRUMP I also have a much better temperament than she has, you know?
TRUMP I have a much better — she spent — let me tell you — she spent hundreds of millions of dollars on an advertising — you know, they get Madison Avenue into a room, they put names — oh, temperament, let's go after — I think my strongest asset, maybe by far, is my temperament.
TRUMP I have a winning temperament.
TRUMP I know how to win.
TRUMP She does not have a.
HOLT Secretary Clinton?
TRUMP The AFL-CIO the other day, behind the blue screen, I don't know who you were talking to, Secretary Clinton, but you were totally out of control.
TRUMP I said, there's a person with a temperament that's got a problem.
HOLT Secretary Clinton?
CLINTON Let's talk about two important issues that were briefly mentioned by Donald, first, NATO.
CLINTON You know, NATO as a military alliance has something called Article 5, and basically it says this: An attack on one is an attack on all.
CLINTON And you know the only time it's ever been invoked?
CLINTON After 9/11, when the 28 nations of NATO said that they would go to Afghanistan with us to fight terrorism, something that they still are doing by our side.
CLINTON With respect to Iran, when I became secretary of state, Iran was weeks away from having enough nuclear material to form a bomb.
CLINTON They had mastered the nuclear fuel cycle under the Bush administration.
CLINTON They had built covert facilities.
CLINTON They had stocked them with centrifuges that were whirling away.
CLINTON And we had sanctioned them.
CLINTON I voted for every sanction against Iran when I was in the Senate, but it wasn't enough.
CLINTON So I spent a year-and-a-half putting together a coalition that included Russia and China to impose the toughest sanctions on Iran.
CLINTON And we did drive them to the negotiating table.
CLINTON And my successor, John Kerry, and President Obama got a deal that put a lid on Iran's nuclear program without firing a single shot.
CLINTON That's diplomacy.
CLINTON That's coalition-building.
CLINTON That's working with other nations.
CLINTON The other day, I saw Donald saying that there were some Iranian sailors on a ship in the waters off of Iran, and they were taunting American sailors who were on a nearby ship.
CLINTON He said, you know, if they taunted our sailors, I'd blow them out of the water and start another war.
CLINTON That's not good judgment.
TRUMP That would not start a war.
CLINTON That is not the right temperament to be commander-in- chief, to be taunted.
CLINTON And the worst part.
TRUMP No, they were taunting us.
CLINTON of what we heard Donald say has been about nuclear weapons.
CLINTON He has said repeatedly that he didn't care if other nations got nuclear weapons, Japan, South Korea, even Saudi Arabia.
CLINTON It has been the policy of the United States, Democrats and Republicans, to do everything we could to reduce the proliferation of nuclear weapons.
CLINTON He even said, well, you know, if there were nuclear war in East Asia, well, you know, that's fine.
TRUMP Wrong.
CLINTON have a good time, folks.
TRUMP It's lies.
CLINTON And, in fact, his cavalier attitude about nuclear weapons is so deeply troubling.
CLINTON That is the number-one threat we face in the world.
CLINTON And it becomes particularly threatening if terrorists ever get their hands on any nuclear material.
CLINTON So a man who can be provoked by a tweet should not have his fingers anywhere near the nuclear codes, as far as I think anyone with any sense about this should be concerned.
TRUMP That line's getting a little bit old, I must say.
TRUMP I would like to.
CLINTON It's a good one, though.
CLINTON It well describes the problem.
TRUMP It's not an accurate one at all.
TRUMP It's not an accurate one.
TRUMP So I just want to give a lot of things — and just to respond.
TRUMP I agree with her on one thing.
TRUMP The single greatest problem the world has is nuclear armament, nuclear weapons, not global warming, like you think and your — your president thinks.
TRUMP Nuclear is the single greatest threat.
TRUMP Just to go down the list, we defend Japan, we defend Germany, we defend South Korea, we defend Saudi Arabia, we defend countries.
TRUMP They do not pay us.
TRUMP But they should be paying us, because we are providing tremendous service and we're losing a fortune.
TRUMP That's why we're losing — we're losing — we lose on everything.
TRUMP I say, who makes these — we lose on everything.
TRUMP All I said, that it's very possible that if they don't pay a fair share, because this isn't 40 years ago where we could do what we're doing.
TRUMP We can't defend Japan, a behemoth, selling us cars by the million.
HOLT We need to move on.
TRUMP Well, wait, but it's very important.
TRUMP All I said was, they may have to defend themselves or they have to help us out.
TRUMP We're a country that owes $20 trillion.
TRUMP They have to help us out.
HOLT Our last.
TRUMP As far as the nuclear is concerned, I agree.
TRUMP It is the single greatest threat that this country has.
HOLT Which leads to my next question, as we enter our last segment here (inaudible) the subject of securing America.
HOLT On nuclear weapons, President Obama reportedly considered changing the nation's longstanding policy on first use.
HOLT Do you support the current policy?
HOLT Mr. Trump, you have two minutes on that.
TRUMP Well, I have to say that, you know, for what Secretary Clinton was saying about nuclear with Russia, she's very cavalier in the way she talks about various countries.
TRUMP But Russia has been expanding their — they have a much newer capability than we do.
TRUMP We have not been updating from the new standpoint.
TRUMP I looked the other night.
TRUMP I was seeing B-52s, they're old enough that your father, your grandfather could be flying them.
TRUMP We are not — we are not keeping up with other countries.
TRUMP I would like everybody to end it, just get rid of it.
TRUMP But I would certainly not do first strike.
TRUMP I think that once the nuclear alternative happens, it's over.
TRUMP At the same time, we have to be prepared.
TRUMP I can't take anything off the table.
TRUMP Because you look at some of these countries, you look at North Korea, we're doing nothing there.
TRUMP China should solve that problem for us.
TRUMP China should go into North Korea.
TRUMP China is totally powerful as it relates to North Korea.
TRUMP And by the way, another one powerful is the worst deal I think I've ever seen negotiated that you started is the Iran deal.
TRUMP Iran is one of their biggest trading partners.
TRUMP Iran has power over North Korea.
TRUMP And when they made that horrible deal with Iran, they should have included the fact that they do something with respect to North Korea.
TRUMP And they should have done something with respect to Yemen and all these other places.
TRUMP And when asked to Secretary Kerry, why didn't you do that?
TRUMP Why didn't you add other things into the deal?
TRUMP One of the great giveaways of all time, of all time, including $400 million in cash.
TRUMP Nobody's ever seen that before.
TRUMP That turned out to be wrong.
TRUMP It was actually $1.
TRUMP 7 billion in cash, obviously, I guess for the hostages.
TRUMP It certainly looks that way.
TRUMP So you say to yourself, why didn't they make the right deal?
TRUMP This is one of the worst deals ever made by any country in history.
TRUMP The deal with Iran will lead to nuclear problems.
TRUMP All they have to do is sit back 10 years, and they don't have to do much.
HOLT Your two minutes is expired.
TRUMP And they're going to end up getting nuclear.
TRUMP I met with Bibi Netanyahu the other day.
TRUMP Believe me, he's not a happy camper.
HOLT All right.
HOLT Mrs. Clinton, Secretary Clinton, you have two minutes.
CLINTON Well, let me — let me start by saying, words matter.
CLINTON Words matter when you run for president.
CLINTON And they really matter when you are president.
CLINTON And I want to reassure our allies in Japan and South Korea and elsewhere that we have mutual defense treaties and we will honor them.
CLINTON It is essential that America's word be good.
CLINTON And so I know that this campaign has caused some questioning and worries on the part of many leaders across the globe.
CLINTON I've talked with a number of them.
CLINTON But I want to — on behalf of myself, and I think on behalf of a majority of the American people, say that, you know, our word is good.
CLINTON It's also important that we look at the entire global situation.
CLINTON There's no doubt that we have other problems with Iran.
CLINTON But personally, I'd rather deal with the other problems having put that lid on their nuclear program than still to be facing that.
CLINTON And Donald never tells you what he would do.
CLINTON Would he have started a war?
CLINTON Would he have bombed Iran?
CLINTON If he's going to criticize a deal that has been very successful in giving us access to Iranian facilities that we never had before, then he should tell us what his alternative would be.
CLINTON But it's like his plan to defeat ISIS.
CLINTON He says it's a secret plan, but the only secret is that he has no plan.
CLINTON So we need to be more precise in how we talk about these issues.
CLINTON People around the word follow our presidential campaigns so closely, trying to get hints about what we will do.
CLINTON Can they rely on us?
CLINTON Are we going to lead the world with strength and in accordance with our values?
CLINTON That's what I intend to do.
CLINTON I intend to be a leader of our country that people can count on, both here at home and around the world, to make decisions that will further peace and prosperity, but also stand up to bullies, whether they're abroad or at home.
CLINTON We cannot let those who would try to destabilize the world to interfere with American interests and security.
HOLT Your two minutes is.
CLINTON to be given any opportunities at all.
HOLT is expired.
TRUMP Lester, one thing I'd like to say.
HOLT Very quickly.
HOLT Twenty seconds.
TRUMP I will go very quickly.
TRUMP But I will tell you that Hillary will tell you to go to her website and read all about how to defeat ISIS, which she could have defeated by never having it, you know, get going in the first place.
TRUMP Right now, it's getting tougher and tougher to defeat them, because they're in more and more places, more and more states, more and more nations.
HOLT Mr. Trump.
TRUMP And it's a big problem.
TRUMP And as far as Japan is concerned, I want to help all of our allies, but we are losing billions and billions of dollars.
TRUMP We cannot be the policemen of the world.
TRUMP We cannot protect countries all over the world.
HOLT We have just.
TRUMP where they're not paying us what we need.
HOLT We have just a few final questions.
TRUMP And she doesn't say that, because she's got no business ability.
TRUMP We need heart.
TRUMP We need a lot of things.
TRUMP But you have to have some basic ability.
TRUMP And sadly, she doesn't have that.
TRUMP All of the things that she's talking about could have been taken care of during the last 10 years, let's say, while she had great power.
TRUMP But they weren't taken care of.
TRUMP And if she ever wins this race, they won't be taken care of.
HOLT Mr. Trump, this year Secretary Clinton became the first woman nominated for president by a major party.
HOLT Earlier this month, you said she doesn't have, quote, "a presidential look".
HOLT She's standing here right now.
HOLT What did you mean by that?
TRUMP She doesn't have the look.
TRUMP She doesn't have the stamina.
TRUMP I said she doesn't have the stamina.
TRUMP And I don't believe she does have the stamina.
TRUMP To be president of this country, you need tremendous stamina.
HOLT The quote was, "I just don't think she has the presidential look".
TRUMP You have — wait a minute.
TRUMP Wait a minute, Lester.
TRUMP You asked me a question.
TRUMP Did you ask me a question?
TRUMP You have to be able to negotiate our trade deals.
TRUMP You have to be able to negotiate, that's right, with Japan, with Saudi Arabia.
TRUMP I mean, can you imagine, we're defending Saudi Arabia?
TRUMP And with all of the money they have, we're defending them, and they're not paying?
TRUMP All you have to do is speak to them.
TRUMP You have so many different things you have to be able to do, and I don't believe that Hillary has the stamina.
HOLT Let's let her respond.
CLINTON Well, as soon as he travels to 112 countries and negotiates a peace deal, a cease-fire, a release of dissidents, an opening of new opportunities in nations around the world, or even spends 11 hours testifying in front of a congressional committee, he can talk to me about stamina.
TRUMP The world — let me tell you.
TRUMP Let me tell you.
TRUMP Hillary has experience, but it's bad experience.
TRUMP We have made so many bad deals during the last — so she's got experience, that I agree.
TRUMP But it's bad, bad experience.
TRUMP Whether it's the Iran deal that you're so in love with, where we gave them $150 billion back, whether it's the Iran deal, whether it's anything you can — name — you almost can't name a good deal.
TRUMP I agree.
TRUMP She's got experience, but it's bad experience.
TRUMP And this country can't afford to have another four years of that kind of experience.
HOLT We are at — we are at the final question.
CLINTON Well, one thing.
CLINTON One thing, Lester.
HOLT Very quickly, because we're at the final question now.
CLINTON You know, he tried to switch from looks to stamina.
CLINTON But this is a man who has called women pigs, slobs and dogs, and someone who has said pregnancy is an inconvenience to employers, who has said.
TRUMP I never said that.
CLINTON women don't deserve equal pay unless they do as good a job as men.
TRUMP I didn't say that.
CLINTON And one of the worst things he said was about a woman in a beauty contest.
CLINTON He loves beauty contests, supporting them and hanging around them.
CLINTON And he called this woman "Miss Piggy".
CLINTON Then he called her "Miss Housekeeping," because she was Latina.
CLINTON Donald, she has a name.
TRUMP Where did you find this?
TRUMP Where did you find this?
CLINTON Her name is Alicia Machado.
TRUMP Where did you find this?
CLINTON And she has become a U.S. citizen, and you can bet.
TRUMP Oh, really?
CLINTON she's going to vote this November.
TRUMP OK, good.
TRUMP Let me just tell you.
HOLT Mr. Trump, could we just take 10 seconds and then we ask the final question.
TRUMP You know, Hillary is hitting me with tremendous commercials.
TRUMP Some of it's said in entertainment.
TRUMP Some of it's said — somebody who's been very vicious to me, Rosie O'Donnell, I said very tough things to her, and I think everybody would agree that she deserves it and nobody feels sorry for her.
TRUMP But you want to know the truth?
TRUMP I was going to say something.
HOLT Please very quickly.
TRUMP extremely rough to Hillary, to her family, and I said to myself, "I can't do it.
TRUMP I just can't do it.
TRUMP It's inappropriate.
TRUMP It's not nice".
TRUMP But she spent hundreds of millions of dollars on negative ads on me, many of which are absolutely untrue.
TRUMP They're untrue.
TRUMP And they're misrepresentations.
TRUMP And I will tell you this, Lester: It's not nice.
TRUMP And I don't deserve that.
TRUMP But it's certainly not a nice thing that she's done.
TRUMP It's hundreds of millions of ads.
TRUMP And the only gratifying thing is, I saw the polls come in today, and with all of that money.
HOLT We have to move on to the final question.
TRUMP $200 million is spent, and I'm either winning or tied, and I've spent practically nothing.
HOLT One of you will not win this election.
HOLT So my final question to you tonight, are you willing to accept the outcome as the will of the voters?
HOLT Secretary Clinton?
CLINTON Well, I support our democracy.
CLINTON And sometimes you win, sometimes you lose.
CLINTON But I certainly will support the outcome of this election.
CLINTON And I know Donald's trying very hard to plant doubts about it, but I hope the people out there understand: This election's really up to you.
CLINTON It's not about us so much as it is about you and your families and the kind of country and future you want.
CLINTON So I sure hope you will get out and vote as though your future depended on it, because I think it does.
HOLT Mr. Trump, very quickly, same question.
HOLT Will you accept the outcome as the will of the voters?
TRUMP I want to make America great again.
TRUMP We are a nation that is seriously troubled.
TRUMP We're losing our jobs.
TRUMP People are pouring into our country.
TRUMP The other day, we were deporting 800 people.
TRUMP And perhaps they passed the wrong button, they pressed the wrong button, or perhaps worse than that, it was corruption, but these people that we were going to deport for good reason ended up becoming citizens.
TRUMP Ended up becoming citizens.
TRUMP And it was 800.
TRUMP And now it turns out it might be 1,800, and they don't even know.
HOLT Will you accept the outcome of the election?
TRUMP Look, here's the story.
TRUMP I want to make America great again.
TRUMP I'm going to be able to do it.
TRUMP I don't believe Hillary will.
TRUMP The answer is, if she wins, I will absolutely support her.
HOLT All right.
HOLT Well, that is going to do it for us.
HOLT That concludes our debate for this evening, a spirit one.
HOLT We covered a lot of ground, not everything as I suspected we would.