Fed up! McCain predicts rise of third political party

Senator John McCain predicted on Tuesday a third political party will emerge in response to Americans' economic frustrations and said it might as well be called "the Fed-Up Party."

The Republican Party's presidential nominee in 2008 raised the possibility of a third party about a year ago, but his comments on Tuesday suggest he has hardened his views as polls show Americans increasingly disillusioned with Washington politics.

The 75-year-old McCain may now be the most prominent politician forecasting Americans will look to another party to compete with Democrats and Republicans.

"Unless both parties change, then I think that it's an inevitability. We aren't doing anything for the people," McCain said in blunt remarks at the Reuters Washington Summit.

Americans, he said, are frustrated by sluggish economic growth that has depleted their incomes while corporate executives take in massive salary bonuses.

Asked if the new option would be a centrist party, or a wing of the left or right, McCain quipped; "I think a Fed-Up Party." more