McCain Will Run for Fifth Term in Senate

Sen. John McCain, whose presidential bid was snuffed out two weeks ago by Barack Obama, is setting up a political action committee as a first step in running for a fifth term in the Senate. A McCain spokesperson said the 72-year-old Arizona senator decided with his senior advisers tonight to set up the fundraising PAC. The spokesperson spoke anonymously because the decision had not yet been made public. (More John McCain stories.)