Iran’s Missile Launch Provides Test for Obama, McCain

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• MARGARET WARNER:

  Today's missile test came with a blunt warning from a top Iranian general: Tehran has the capacity to retaliate against any attack, from the U.S. or Israel.

• GEN. HOSSEIN SALAMI, Commander, Revolutionary Guard Air Force (through translator):

  We want to tell the world that those who conduct their foreign policy by using the language of threat against Iran have to know that our finger is always on the trigger.

• MARGARET WARNER:

  Today's missile tests by Iran's Revolutionary Guard come on the heels of a large Israeli military exercise. It demonstrated that Israeli bombers can reach Iran's controversial nuclear facilities. The Israeli exercise fueled speculation in Washington that Israel may be planning a pre-emptive strike.

  Tehran said one of the missiles tested today, the Shahab-3, has a range of more than 1,200 miles, putting Israel, Turkey, Saudi Arabia, and American bases and troops in the region well within range. So are the vital oil shipping lanes of the Strait of Hormuz. World oil prices spiked on the news.

  The U.S. presidential candidates responded swiftly to the reports. Democrat Barack Obama appeared on ABC's Good Morning America.

  SEN. BARACK OBAMA (D), Illinois: Instead of engaging in over-the-top rhetoric, what we should be doing is gathering our allies together in a serious effort to apply sanctions to Iran and encourage them to change their behavior.

  Iran is a grave threat. We have to make sure that we are working with our allies to apply tightening pressure economically on Iran, at the same time as we start engaging in the kind of direct diplomacy that can lead them to standing down on issues like nuclear weapons.

• MARGARET WARNER:

  Republican John McCain issued a statement saying the tests showed the need for a missile defense shield in Europe. And at a campaign event, he was asked about what role diplomacy should play in checking Iran.

  SEN. JOHN MCCAIN (R), Arizona: There has been intense negotiations and diplomacy, and there continues to be a role for it. But history shows us that when nations are embarked on paths that can jeopardize the security of the region and the world, then other action besides diplomacy has to be contemplated and taken. And that's why meaningful and impactful sanctions are called for at this time.

• MARGARET WARNER:

  The European Union and other major powers offered Iran a revised package of incentives last month, if Tehran will abandon its uranium enrichment program.

  Iranian officials have sent mixed signals in response.

  And for more, we turn to the senior foreign policy advisers to both presidential campaigns: Richard Danzig, former Navy secretary, for Barack Obama; and for John McCain, Randy Scheunemann, a national security adviser for several Republican senators, he joins us from campaign headquarters in Arlington, Virginia.

  Welcome, gentlemen, to you both.