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Indiana governor discusses how he guided own state out of debt, offers suggestions on how to fix the debt problem in Washington and more!
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-- -- -- -- -- -- Hi Greta.
Governor if you could get any message from your experience has been a governor of Indiana.
To governor Romney in terms of handling the economy what's a single message you want to make sure he hears.
-- trust the American people level with them about the facts.
Explain that we're gonna have to make some changes and it's all.
In the interest.
Of low income people of young people of people trying to climb the ladder of success they're the folks.
Who'll be penalized if we keep drifting toward Niagara Falls on the current track.
-- -- everything.
In net terms of their future and take the message two.
Young people and and to middle America at every opportunity.
Governor -- today at governors talks about that the sharper spending cuts and President Obama talks more about.
About issues like fairness very different but in impose speeches and in there -- -- -- -- policies.
The one thing I don't hear is actually something that you brought up when you first became governor.
And the first day became governing created Indiana's first office of management management and budget.
Which looked at inefficiencies and cost savings through out your government -- to the state government.
Do you seat either candidate focusing in on efficiencies.
And waste in either one of their.
Economic policy users to our speeches.
Well I think they both talk about it and it it does deserve a close look I will say Greta that.
Perhaps.
A big difference between the federal and and state levels is that.
Although waste is rampant we all know that and -- -- there's an awful lot of government we should do -- out no one would miss it.
And the federal overspending is overwhelmingly.
In the safety -- entitlement programs we've got to address them.
The most effective.
He took our team of fraud fighters in spending cutters from Indiana which is.
I think the best in America with a record to prove it if you turn our folks lose the federal government you you still wouldn't get at the big bucks until you.
Looked at entitlements and -- them on the other side of the equation much faster economic growth.
-- you -- worked in the federal side of this as well I'm curious set you know what is it that we could do it goes and Thomas and militants and so vast topic and it and probably.
-- is worthy of you know ten hours of discussion.
But there's there's something that really is jumpstart us so that we feel good about ourselves we get a big jump on the economy and get a grip on what's happening to our growing debt.
It could take ten hours but I think I can name that tune in.
And well under a minute -- have first of all if we wouldn't even Begin to address that it would make a dramatic.
Positive difference for jobs and growth in this country -- the world.
Which really wants to keep financing the United States they don't have a better alternative the world even saw -- start down the path.
Of reconciling our long term commitments and in our means.
They would reward that with I think new investment law and lower interest rates on a long term basis.
And how to do it lot of ways -- my suggestion is that.
First of all means that's the programs concentrate the money on low income people who really needed.
Secondly.
We should did you know that clearly stopped over indexing the programs protect people against the cost of living that.
Not necessarily more and raise the -- the retirement age very gradually.
To something that lines up with today's actuarial realities.
All those things only to start in a few years you say to people in the program today.
You're good to go nothing's gonna change for you but help us make sure that younger people have something waiting for them to.
I in terms of cutting entitlements and that's always does it mean oftentimes I mean the -- the lower -- -- a -- -- a Social Security which people don't contact with law they say they've paid into the desert.
But entitlements.
For them very poor who might be really discouraged -- don't have jobs no no future opportunity.
Do you see a you know do you see a necessity of focus on them as well the rev up the economy.
And how would you get them inspired and going and -- opportunity.
We should go to -- Full -- the throated growth policy in this country specifically in the interest of those who are jobless or underemployed today.
And those young people -- -- up.
That enormous number of young people coming out of college even without a job so many of them live and at home and that means things like.
Lower flatter tax rates every economist I know across the spectrum agrees that.
Taking out the so many of the preferences and special exceptions in the bookshelves -- tax code we have is would be positive for growth and jobs.
Absolutely maximizing this great new energy opportunity.
Which American ingenuity has created for us I'm talking about natural gas and and oil sands and all the new means of extraction we can be the energy producer for the world.
After couple generations when we were sending.
Billions of hard earned dollars overseas for -- to to meet our energy needs.
And I know that your -- big supporter of governor Romney of course and is a fellow Republican.
But I'm curious what does your deepest criticism -- Obama's economic policy where in your mind.
Does it fail or is it on the wrong track.
It would be a lot shorter answer by -- anything I thought they'd done right.
They have been regulation crazy they have piled cost after cost delay after delay.
In the path of those who would hire.
Americans.
They have been forum more taxes under threat of more taxes.
And on recurring basis and then.
As if that wasn't enough to stop economic growth.
They have chosen to be sadly divisive castigating it individual.
Businesses business sectors even individuals by name and so it may have had.
As as pure and anti growth.
Economic policy is one could imagine.
And no one should be surprised that.
-- -- economy has responded as it has that businesses are scared to death this.
The risk any of the money that they have in their treasuries.
-- must question about the race said the other day in Indiana I know that you -- chief of staff way back when for Iraq.
Senator Lugar he lost to a member a man who supported by the Tea Party make -- the Tea Party movement the country right now.
-- it's a factor and he was a factor here in our state that.
In this contest.
Very honestly the that winner Richard Murdoch started with two thirds of the regular Republican county chairman for him and added -- that numbers he went along.
So.
This was a test between two good friends of mine too good allies to really good people.
But it would be a complete misunderstandings.
Label this -- Tea Party phenomenon when in fact the winner.
Had a I rolled -- a very strong a majority with rank and file Republicans who felt they knew him.
Had seen a lot of him he's been elected twice statewide in just the last six years so.
He's a Republican regular himself and that was the decisive factor.
And I says last question I'm curious about this Subaru just announced in a bunch of new jobs in your state and I'm curious it was a state is different than that than the national.
But -- but is there's some sort of formula are encouragement resident you know at a national level -- I think it's so rude to do that in your state that could've gone any place.
What's so what's so great about Indiana -- this.
Yeah -- I'll be ride my motorcycle up there to us help them celebrate tomorrow morning.
And not for the first time no it's pretty simple and in -- in all the major rankings of best states to do business Indiana's come rocketing up the list into the top five.
Were the only state not in the Sunbelt.
Anywhere in the top ten -- funny.
And that's what happens when you.
Commit yourself completely to jobs and economic opportunities so we have lowered taxes we have kept spending down.
We have a triple -- credit rating so businesses know that taxes are going back up we have the lowest property taxes in America we have a regulatory approach which is.
Has high standards but is quick and consistent and collaborative not punitive we don't talk about crucify anybody out here as this.
Guy at the EPA just did.
We have -- built the best infrastructure in the country.
And if you do that.
Then people notice and people have a good experience when they invest -- like -- they come back and invest again.
Governor thank you hours it was let's see what works and and try to sort of maybe -- -- try to -- that stuff so.
You get other states capping and -- shadow presidency as an Indiana will show you.
And I thank you got act.
