Also in this playlist...
This transcript is automatically generated
-- in Washington.
The economic news Friday -- was ground employers out of the fewest jobs in a year.
And the stock market wiped out all the gains that it made in 2012.
How does this reshape the presidential race we'll talk with a former advisor to -- President Obama in a moment.
But firstly welcome Ed Gillespie's senior advisor to Mitt Romney and good to have you back good to be back thank -- let's start with the jobs picture for the first two months of 2012 job growth averaged 267000.
Jobs a month.
For the last three months it's averaged 96000.
-- just 69000.
Jobs created in May.
Question what does governor Romney think there's the problem.
The problem is this administration and this president.
Policies are hostile to job creators and we see that on any number of fronts whether it's the excessive regulations and the mandates that the mandate in the president's health care below was estimated cost 850000.
Jobs in our economy by the congressional.
Budget office you look at.
The Keystone Pipeline decision which would have -- in immediate impact on job creation.
They've proposed tax increases.
On job creators this is a hostile environment for job creation and in our economy and that's -- Frankly that's a sense of urgency.
In terms of this year's election to be able to turn things around because the only thing that's gonna change it.
Are changing the policies and that means changing the person in the White House are.
President Obama says a big part of the problem is that house Republicans are blocking.
Some of his jobs ideas that he's had out there since last September ideas like.
Giving small business attacks and -- to hire more people.
We're more targeted spending for infrastructure.
And -- hire more teachers take a look.
Congress hasn't acted on enough of the other ideas and that bill that would make a difference and help create jobs right now.
There's no excuse for that now when so many people are still looking for what.
Does governor Romney thinks that the house Republicans should pass some of the Obama jobs act and what about early action.
To deal with these big spending.
In -- spending cuts rather and tax increases that are automatically gonna be triggered at the end of the year.
Well a couple things -- the house as you know has passed job creating.
Legislation that the Democrats in the senate.
Have not taken up and passed and sent to the president the president hasn't worked to get them Don.
The problem is not what.
-- congress hasn't done.
With Republicans -- -- house the problem is what congress.
Did you when Democrats controlled the house and the senate and the White House in the first few years of the of this presidency that but it is stimulus bill and the health care bill and the Dodd-Frank excessive regulations are part of what stifling our economy today if I.
May press my question does governor Romney think.
You know because forgetting the election the fact is that with -- -- economy is going to be in trouble over the next five months if he's elected the next governor -- months before he steps in -- office.
Does he think that the house Republican should pass some of the Obama jobs act and what about early action to take away what's being called tax and again.
Well and Chris would governor Romney thinks as we need stronger presidential leadership you don't see President Obama.
-- doesn't seem seemingly is campaigning go to fund raisers.
Where is his leadership on this on tax and again and the sequestration has he done anything at all to.
Try to bring members of congress together to try to avoid this has he would he would he support early action.
I think he would wait to see what they came up with but but I think what he supports is.
Leadership which is vacant right now which is absent -- that is what's contributing to the two are stagnant economy.
All right the president says that the Romney plan to fix the economy.
Is the President Bush 43 plan on steroids coming specifically.
Where does Romney differ from bush and economic -- Other a couple of ways one I think there's a very clear distinction on governor Romney's.
Policy toward China for example and currency manipulation.
When you look at.
Governor Romney's support for.
Entitlement reform it's different in nature from president bush is entitlement reform proposals but.
The most important thing is not the you know the differences between.
What governor Romney would do in and help President Bush approach your job there are major differences between.
What governor Romney would do and what President Obama is doing and that is really the the focus of this election.
And where it should be those are pretty significant differences when it comes to entitlement reform and saving Medicare and Social Security for future generation.
Stopping these tax increases from hitting small business owners who tradition -- provide two thirds of the new.
Jobs and our economy and are gonna get hammered under present Obama's proposed tax increases.
And repealing the obamacare bill which like -- say has had that job killing mandate and job killing taxes and it is well.
But specifically on taxes and spending.
Does Romney have a different plan than George W.
He does Chris the fact is advocates -- on on taxes and spending both.
What governor Romney is called for in terms of bringing down about 20% across the board tax cut.
But offsetting that with specific elimination of tax.
Tax deductions and simplifying the tax code.
It's different from what President Bush called for.
The Obama campaign is now going after Romney's record as governor of Massachusetts and let's take a look at at that record -- their main charge during the four years before Romney took office the state ranked 36.
In job creation.
During Romney's term it ranked 47.
When Romney took office the state had an unemployment rate lower than the national average.
When Romney left office the state had an unemployment -- higher than the national.
Well a couple things one on I don't agree with the data that you just put up there Chris my understanding is that when President Obama I'm certainly.
When governor Romney took office as governor of Massachusetts.
Massachusetts was ranked fiftieth dead last actually fit -- first to I don't believe I've gone to four years I've got it over the four years I I think you're wrong I think and I think you're wrong so what her up arbitrate this because the BLS data shows that Massachusetts governor Romney -- -- -- for the warriors who was -- In the job creation of first year it was fiftieth -- -- when he took office it was number fifty -- job creation MacKey 51 if you count registry of -- -- -- -- at a -- check it out -- and and when he ended his term in office for years in office it was number thirty.
So he moved it automatically over the four years it was 47 there's no question about that -- if this is what they're doing Chris you take the first year which is a low base here when the when the governor came in and took office because it was fiftieth in job creation out of all the states that last.
Moved at the thirtieth by the fourth year had a net job creation of around 40000 jobs.
And and they -- averaging out over the four years so they're bringing down -- big gains a bit of -- of his -- -- -- office which shows the real impact of his policies.
And and -- it with the first year in office when he came into office and it was fiftieth than in in job creation.
He inherited a three billion dollar projected deficit.
Turned it around without raising taxes balance the budget and put two billion dollars in the rainy day fund.
The unemployment rate when he took office was five point 6% when he left -- it was four point.
The fact is that the average income for a family in in Massachusetts went up by 5500.
We're proud to contrast that with President Obama.
Who came in and for four years in a row has passed the deficits of more than one trillion dollars we've had over 500000.
Lost jobs in this economy when he three million Americans.
You know unemployed underemployed or out of labor -- entirely bland and average wages down 4300 dollar.
Let's compare Romney and Obama and another area -- hit the president this week for engaging in what he's said.
Is public act what -- using taxpayer money to invest trying to pick winners and losers the most obvious the poster child if you Willis -- lend ago.
But as governor Romney approved millions of dollars in tax money for loans and tax breaks for private companies what's the difference.
Well the difference is Chris that in Massachusetts there is a aboard that does approve these -- there's a big story about this car and -- for example that was in the news today the fact is that was approved before governor Romney even.
You don't have control over what this board does its in its have a point minority signed -- a bunch of these companies know when you know there what I what I know is that when he was governor of Massachusetts he said the state should not be investing in private enterprise.
And he tried to reprogram the money away from that into other into other government spending in Massachusetts.
So how about all these cases -- -- -- tax breaks to companies where there was a company in Rhode Island.
That they had that they enticed to come over and then went -- -- Chris it's -- It in within the structure in Massachusetts as I understand it is that it is a commission of political appointees that the governor does not have direct -- and you're saying that Romney was opposed to all of us I'm saying that what governor Romney said when he was governor of Massachusetts is that we should not have the state investing in private.
Enterprise the fact is we should be reprogram his money and he tried to reprogram the money away from those kinds of investments.
As you know we're talking and the next segment to Steven Rattner who was Obama's former cars are.
01 of the biggest knocks against Romney is that he opposed the government bailout of GM and Chrysler.
The Republican governor of Michigan says that.
If you happen to have the government bailout there was no private money there was no money coming from private investors is noble money coming from banks this is during the financial meltdown in 2000 night.
If you happen -- The government bailout that these.
Companies GM and Chrysler would have gone into wait long term liquidation it would have been in bankruptcy for some years not the quick managed bankruptcy they had.
Well I remember this debate pretty vividly in the fact is there were conflicting points of view both.
On Capitol Hill and in the White House at the time -- -- -- -- Obama came in and and did the essentially the managed bankruptcy that governor Romney had called for and they -- getting called for government money.
He called for a managed bankruptcy that's correct without ever -- -- -- -- and.
As I point that I think -- -- -- -- Ike has there was no private money so you have that the government money would have gone under chapter seven liquidation.
And you think that that's that's ahead as fast as the company would have been in bankruptcy for years in the -- had to lay off all that work.
Chris I understand that that is an opinion there are different opinions -- -- as to whether or not that could've been done I know there were different opinions at the time and I know that the the decision was made that this is the way it has to be done.
Governor Romney's belief in the belief of many other people is that we would have been better off if we've gone -- managed private sector bankruptcy wouldn't have had.
For example the the unions haven't.
Been given essentially control over.
The auto companies and and given.
Put in front of the line over.
You would have had I think more of a restructuring that may have made that the companies even more viable over the long term.
-- today but this is -- did that but there are different opinions on this is no doubt about it governor Romney's view was managed bankruptcy would have been the right way to go they ended up.
Going a similar route at the end of the day anyway.
But there's no doubt there's a difference of -- A couple of final questions I was talking with a top member of the Romney campaign not you but somebody else.
Who said the big revelation the last couple weeks has been that the Obama campaign is not as good.
As you thought laws and that there have been a series of missteps whether it's getting into a fight -- the Catholic Church over contraception.
The word the president himself going so negative so early.
Do you have a feeling is there -- feeling in Boston.
We can beat these guys.
Others clearly feeling in Boston that governor Romney is going to be President Obama.
You know you can go back and forth about tactics and who won the week and that kinda thing the fact is that the end of the day.
It's the candidates and governor Romney's experience in his record.
And his positive agenda for turning this country around I think what's gonna -- into the -- look it's.
It's you know.
It's easy for political folks to look Smart when things are going their way or looked -- when things aren't.
But it's the American people who are Smart and it's the candidates matter and and they they're the ones that are going to be their names on the ballot I think you know that's why we're -- that's why we're gonna have a change in November.
Because -- governor rounding -- political -- Last question finally there is a recall election as you well know in Wisconsin on Tuesday.
If Republican Governor Walker -- speech the recall how much do you think that carries over to November.
And the possibility that Romney could win a state that hasn't gone Republican since nineteen.
84 well I think this recall is about Wisconsin and about the reforms the governor rom -- -- -- -- Governor Walker and -- there.
And I think it's going to be close I think he's gonna went in and the voters gonna reject the recall.
I don't know at the end of the day how much that's -- factor into November but it does reflect.
What has been a trend in Wisconsin you know -- they're not only was Governor Walker elected as a Republican to this statement to the governor's mansion but.
Republicans will control the state house in the state senate the first time a long time there's something going on in Wisconsin and all across the Great Lakes where it is moving away from liberal democratic policies and toward more reform oriented Republican policies and very briefly if walker wins what's the statement to -- labor.
I think the statement to big labor and two big government employee unions Google worker unions is you can't be too greedy and you need to understand the times are tough.
And a lot of these legacy costs that you -- -- due for some reforms and some restructuring at Napoli the debt thank you so.
Filter by section