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McCain says he'll be judged in November on Iraq war

Sen. John McCain said Monday that to win the White House he must convince a war-weary country that U.S. policy in Iraq is succeeding. If he can't, "then I lose. I lose. Is there any doubt?"

He quickly backed off the remark. "Let me not put it that stark," he said, explaining that he believed people would judge his candidacy on his ability to handle the economy, which has emerged as a pre-eminent voter concern, as well as on national security.

Nevertheless, McCain, the presumptive Republican presidential nominee, made clear that he believed his prospects in November would rest in large measure on the way the situation in Iraq plays out.

"If I may, I'd like to retract 'I'll lose,'" he said. "But I don't think there's any doubt that how they judge Iraq will have a direct relation to their judgment of me."

The Arizona senator calls for the military to continue its mission, while his Democratic opponents urge speedy withdrawal.

Also on Monday, lawyers for the bank that provided a crucial $4-million line of credit to McCain's campaign late last year said the loan agreement was carefully drafted to give McCain the opportunity to withdraw from public financing during the primary elections.

In a letter obtained by the Associated Press, the outside counsel for Fidelity & Trust Bank said the loan terms specifically excluded from the collateral any potential share of public matching funds McCain was entitled to receive.

The letter, from lawyers Matthew Bergman and Scott Thomas to McCain lawyer Trevor Potter, supports McCain's stance against claims that his withdrawal from public financing is in jeopardy.

The bank's description of the loan came on the same day the Democratic Party filed a complaint over the funding issue against McCain. The Federal Election Commission also has asked McCain to explain the loan terms.

[Last modified February 26, 2008, 00:23:09]