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Debt Discussion Drives Campaign Debate

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    Chris Stirewalt and Chris Wallace discuss how debt worries are driving the 2012 campaign.

  • Duration 7:18
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It incomprehensible.

That a president could come to office and call his predecessor's record.

Irresponsible and unpatriotic.

And then do almost nothing to fix it.

And instead every year to add more and more and more spending.

That was presumptive Republican nominee Mitt Romney campaigning in a town hall meeting in saint Petersburg Florida.

There with the -- the version of the national debt clock.

Ticking away behind him I suspect you'll get to see more of that and this is power play.

And certainly the the Republicans are hoping to short -- Their message against President Obama on the national debt national deficit it's one of his big weak spots.

As voters are increasingly concerned about more than sixteen trillion dollars and obligations for our federal government.

And we are not concerned about being able break that down because we have with us Chris Wallace.

You watch each week on FOX News Sunday and is very kind to join us that welcome mr.

Wallace.

-- -- -- -- -- -- Well we're just.

It if having watched what I saw last night which was a virtuoso performance on jeopardy by you I'm in it and especially reverend move toward you today I am I'm still basking in the glory should -- and it it was a it was a -- -- -- experience well let's go ahead and since I can't talk about anything else I get this out of the -- let's go ahead and take a look at one of your war.

Those star -- moments in that in that.

Program.

The British are coming for 16100 answer -- My whole life to say Alex let's make at a -- daily double but this is way too much money -- I'll -- 2000 OK here's the clue.

The British did not have won't -- In the January 8 1815.

Battle of this city what is new world of New Orleans correct.

What is New Orleans if you had it to do over again would you have I mean -- knowing -- knowing whether that was what the answer was yes I would have nothing but.

I really wanted to send -- thank at a true daily double and a fan and that's one of the things that -- doesn't that show but when you're suddenly there and you're in the lead and you 7000 dollars and if you get it wrong you go to zero.

That was a bridge too far when you're just you're just crushed doctor Oz that was just not even that was not even close -- -- might.

These six sometime -- -- -- guy and I don't want to -- now doctor -- I very much respect if they're -- category five or insert superffoods though I'm sure he would have gotten much better.

I'm worried about parts of the spleen and Erica.

OK so.

Well it's going to chat here by the way the Internet congratulate you -- for your thank you Internet.

And let's see all all jury how does mr.

Wallace feel about the local elections for the house and have a -- factors into that -- they're -- -- be any fallout for the house not working with the senate to get this senate's budget agenda passed I don't.

The senate doesn't have a budget.

No it doesn't have the budget.

I you know it citizen I'm I'm I'm thinking to myself why would Romney spend this week on that.

Deficit when we don't know the economy and jobs.

There a couple of points here first -- -- we know that to Tea Party conservative activists.

The size of the government the size of the debt is still a very big deal.

And I think that one of the things that that.

Romney is trying to do is to just in a variety of ways because he can't just be -- about jobs jobs jobs -- first six months.

To say that this president has not been a good Steward of the economy and particularly with the G-8 summit coming up and all the concern about the -- overseas in Europe.

The whole question of the death and what to do about it from countries with 89 100% GDP in their in their -- -- up.

You know that you.

It does raise the question about.

They didn't blow back from.

The death on the economy but it's not like the two were separated they have something to do with each other.

But I think most importantly in the with the crossroads and other not supposedly I have an affiliated yes unaffiliated I do have my question but I don't both sides right but they did a very effective that and they showed Obama promising that he was gonna cut the deficit in half -- in his first term by the end of -- -- -- from -- of course always done it is -- increase it -- about a third.

The national debt -- the deficit using -- by more than a third so it.

It does seem to need to be a legitimate issues for -- to talk about and as I say it excites the base and I think it just raises questions.

About the stewardship of the economy.

That's the -- -- stewardship is really the key because that's what Mitt Romney wants to run he wants to run.

He stewardship election he wants to he wants to say that Barack Obama this is much like Margaret Thatcher ran.

And others that are not.

Hard core ideologues because that's not where Romney is really coming from he's coming from stewardship point -- -- he's saying that Obama has been in provident and imprudent with his action trying to.

And and that the line and you saw it actually on the his podium and one of the speeches on and -- the one that you showed.

And and it -- a direct steal from the British elections.

Obama isn't working and that was a campaign -- that they ran that.

In Britain saying that the government -- you know the government isn't working people are out of jobs they would have long lines of unemployed people lately isn't working right and you'll see that a lot.

During this camp that.

-- -- says Romney needs to have that clock on his bus probably wouldn't be a bad idea for him.

Because while there is a disagreement.

About.

That the differences between Obama and Romney on the economy and polls are not as great as they are on debt that's one that's a clear winner for the Republicans.

Do what's the downside is there a downside over emphasizing the stuff.

No but I think he had been connected and you have to say that this debt because.

You know historically speaking.

The Republicans would run against Democrats on the -- -- that.

And it would make a lot of impact because people didn't see it affecting their daily -- you've got to explain to people why.

-- having a country this far in -- sixteen trillion dollars in debt.

Why that hasn't enormous impact on their daily lives on their economy on -- jobs on.

You know that the -- is going to be carried on.

To their children.

Now you have even more reason to admire and I do Chris Wallace.

Jeopardy Scott did we thank you very much for making time for us today the first and last -- Poehler vehicle to start but that -- thank you for that as an old and I pretty much every and any did -- for wounded veterans really cool thing for the warriors already worried what great charity of the money.

All right we've got to go on the hunt Jonathan Hunt is ready for you but now as we like to do every day we want to leave you with the word from our French -- Us -- that I think the biggest boondoggle.

We started actually united in the Obama years but before that which is -- -- Al Gore admits that it does nothing in respect to climate.

It consumes as much energy is it saves it's completely lost and what happens were locked into a huge subsidies is a complete waste of money for the taxpayer in the country.

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