"People are sick and tired of what's going on here in Washington, both as far as Congress and the president is concerned. He's not going to pass this jobs bill. ... Instead of saying pass the bill now, why doesn't the president say, 'Let's sit down now?' "McCain asked on CBS' "Face the Nation."
He said Obama should emulate what President Bill Clinton did after the 1994 elections to address the economy.
"Have the president take the Bill Clinton approach, in my view," McCain said.
A combined effort would result in increased approval ratings on both sides of the aisle, he argued.
"Look, there are some areas that we would agree on, the payroll tax, a flat tax. Have you met any American that doesn't agree that we should reform the tax code? And I don't think we can put all our eggs in the basket of the supercommittee, as much as I admire and respect it," McCain said.