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Exclusive: Republican vice presidential candidate sits down with Brit Hume for first solo interview since VP announcement
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President.
Obama's interview.
He -- you -- mr.
consulates -- a decent -- a family man.
And articulate spokesman for the Romney vision but he says -- -- vision -- -- profoundly disagree with.
What would you say about him.
I think that's -- correct I think it is a vision that we have fundamental differences.
On I think the president himself as a good thing.
We have a very different idea of how to take this country forward.
The president has given us utter failure when it comes to creating jobs are -- fiscal discipline to Washington.
If we stick with the same plan we'll get more the same results more taxing more spending more borrowing more regulating.
And I think -- a different vision we are offering solutions you know the Romney Ryan plan for former middle -- -- -- solutions to get us back on track create jobs and with the budget.
Get people back to work.
Medicare is not the only issue in this campaign -- the moment it seems to be.
And your campaign is going up today with a -- them understand is pretty big by 32.
On the attack.
Let's take a look at.
-- to many -- for years.
Free paycheck.
Now you need -- except.
Sixteen billion dollars from Medicare want -- peace through obamacare.
And now the money you paid for -- guaranteed health care.
-- -- -- to a massive new government program that's not for you.
The Romney Ryan plan protects -- -- it's -- -- these seniors and strengthens the plan for the next generation.
I'm Mitt Romney and I approved this.
Message.
So that -- -- tax.
President Obama for the Medicare savings are confident in Obama care.
System now it -- seven billion dollars.
Doesn't your budget also come play very major receiving from -- here on something like the -- Only President Obama.
Raids.
716 billion dollars from Medicare cuts and are sixteen billion dollars from the Medicare program to pay for Obama -- right we don't do what -- what -- he makes a much more.
The point we -- I join the Romney ticket.
And what Mitt Romney has -- to do is repeal all of obamacare I voted repeatedly in congress to repeal all of obamacare including.
This kind of senator's sixteen billion dollars to pay for Obama care so what's very important here our seniors don't know is that they turn Medicare into a piggy bank.
To -- obamacare the Obama campaign thinks it's an achievement that they raided.
Medicare to pay for obamacare and we want to point that out and we what are we restored those cuts to prevent that -- -- get you're not saying those that you don't conflict in your budget significant savings over 500 billion dollars in Medicare.
Now what are we -- the complicated based on issues but that's the current law so what we do is we keep with the current law in our budget.
But what Mitt Romney as well the current laws is the current spending on Medicare if so which was changed by obamacare what -- -- proposing.
But Mitt Romney's proposing.
Is and the raid of the Medicare program -- that money so that goes back to Medicare and doesn't finance obamacare.
So you're cut so you don't conflict -- savings and Medicare well.
We will make savings in Medicare for the next generation -- -- work for proposing is to shrink the program for current -- here's the issue Brit.
We think Medicare -- -- promise that was made to seniors who have already retired and so we propose no changes to anybody in or near retirement.
So that the guarantee of Medicare is for them that's a clear contrast with president Obama's plan which is now in law.
Which raids Medicare by seven or sixteen billion dollars to pay for Obama can we restore that.
So that the promise of Medicare is there for current seniors but it is the case -- in the budget you've passed through the House of Representatives.
Significant savings of upwards of five billion dollars in Medicare we don't -- We don't we do not -- cuts to Medicare program house budget.
We don't.
Take more cuts to Medicare we should we prevent the rate of Medicare so that those dollars you go to single life of Medicare and and -- -- dollars good news analyst.
Which I'm a little and fears -- other work you do you make savings to prevent.
Program under what how how is this so here's the here's the issue.
What President Obama trying to do with his Medicare plan.
He's trying to count a dollar twice he's trying to suggest that these Medicare cuts can help Medicare it doesn't because he's taking those dollars from Medicare to spend -- obamacare.
We prevent that from happening in house budget but let's be clear -- -- I am on the Romney ticket.
And what Mitt Romney is proposing its repeal.
All of obamacare and in the house repeatedly I voted with the position I support that position I'm pleased to -- position.
Of getting rid of every piece of obamacare.
Including the cuts to Medicare which are used to pay for obamacare.
The budget plan that you are now supporting would get to balance when.
Well they're different.
The budget plan that Mitt Romney supporting.
Gets us down to 20% of GDP government spending by 26 team that means get the size of government backed where historically has spent what President Obama has done.
He's he's brought the size of government.
To as high as it hasn't been since World War II.
We wanna reduce the size of government so we can have more economic freedom get that but -- -- I don't know exactly what balances because we haven't.
-- -- -- Won't -- we have run numbers on that specific plans the plans that we've offered in the house balance the budget I would put a contrast President Obama.
Never once ever has offered a plan to ever balance the budget the United States senate.
They have even announced they haven't passed a budget in three years -- him but but.
Your own budget to you that you -- but I house but on some of the house but.
This is mrs.
Your budget and hostile issue in -- house budget I was what was that company I was but it doesn't budget until that point thirties under their current.
What we call measurement of -- -- -- we believe if we get the economy growing we get people back to work well that was -- -- within ten -- don't know much more debt -- but the key -- British.
-- -- get people back to work in an economic growth.
Mitt Romney has a plan for doing we have this.
Five points for a plan for stronger middle class energy independence skill is get people back to work and -- job training programs.
Trade that works -- build things here seldom overseas.
It deficit -- under control helps small businesses that -- the engine of economic growth doing these things with -- will produce opportunity.
Economic growth job creation if we do that it will balance -- -- far faster economic growth.
Along with fiscal discipline and spending cuts is the key economic -- it was in the budget that raises this question your selection has brought into focus.
Your reputation and standing as someone who wants to trim the federal government -- And is prepared to take on reform entitlement programs and so forth.
That doesn't sound I think Eric personally growth talk just like I understand -- which would explain it and -- growth markets like.
-- green Irish aid budget talk.
You know me better than that.
Mitt Romney and I share the same ideas on how to get this country back on track.
You have to cut spending -- borrowing forty cents of every dollar we spend.
If we keep borrowing like President Obama has proposed that itself is correct economical.
All of these deficits all of this debt is one of the greatest threats to our economy and job creation she had to get this deficit and debt under control to create jobs in addition.
We -- pro growth policies fundamental tax reform energy independence job training.
Better trade agreements to produce more sales of the things we make here -- America.
Economic growth combined with fiscal discipline is the secret to getting people back to work when will we see Romney plan that particular.
You have seen more details from Mitt Romney.
Fiscal policy saving entitlements I'm getting back to work then the incumbent president United States when he proposed a full blown budget.
His budget didn't even try.
To make his budget it is budget proposes more debt.
More spending more borrowing more regulating.
And it gave us four years of trillion dollar deficit and is proposing more listening.
Let me ask you.
About your relationship.
People -- vote to campaign together in Wisconsin factory that was -- and primary noticed it for awhile you just introducing.
And those as the you know as a local -- Introducing -- news the government state.
Before was over you're basically sharing a stage.
What happened between you two men during -- -- you know we spent about five days in the -- five.
Fourteen hour or so days span in between all of those stops driving from Appleton and green -- Janesville to Milwaukee.
We definitely we conversed on policy issues and where to take the country.
And sooner or later we basically started sharing the microphones at these town hall meetings and we just kind of developed.
My chemistry with 1 another -- and a mutual understanding did you have a sense then.
Did you have a special place with him he that he had taken a shine to you affect I don't know -- -- special place but it was very clear we thought the same issues when he asked me to join the ticket.
He basically said to me.
You share my values and you -- the kind of experience that could be a compliment to my experience to getting this country back on track.
Creating jobs to getting people back to work to save this country from -- crisis so.
When the call came.
And -- use -- yes but.
Did you and did you at that time.
Think well which is going to be the -- now going to be joined.
Budgets are going to be sent this my budget cutting reputation going to be -- that.
Yes I'm excited about an eager -- -- towards this we we all the country.
A clear choice and different solutions let's get back to this that this -- suggests.
Again it's going to be seeing a lot of places.
That you won't Clinton and governor Romney think that Medicare.
Which has been a very difficult issue for Republican for a very long time.
It's all and poll suggests that people almost automatically think Republicans are hostile -- -- a can be a winning issue for how absolutely.
Because we're the ones who are offering a -- statement here.
To protect Medicare strengthen Medicare were the ones who are not raiding Medicare to pay for obamacare where the ones -- repealing president Obama's.
Fifteen person bureaucratic board that will put price controls and Medicare that will lead to -- care for current seniors.
We're the ones continue to guarantee of Medicare for people in or near retirement and he -- three -- for the younger generation.
In order to make the commitment stick for the current generation -- Obama.
Is actually damaging Medicare for current seniors it's irrefutable.
And that's why I think this is the date we -- -- -- that's debate we're gonna win.
Democrats argue that when that time that the people everybody from 55 and lenders.
And others covered but fifty -- understand.
But Democrats -- it and people who who do come of age and face the new Medicare will exist.
Or end up having something like 6300.
Outlets -- it's a misleading it was initially by a point when it was came out a few years ago it's even more visual what's wrong with because it's not accurate.
The more the point.
The kind of reforms are talking about our bipartisan reforms bipartisan reforms in congress today.
They originate from the Clinton -- the late 1990s.
These reforms that have been championed by both Republicans and Democrats on how best to save Medicare.
So that for future seniors younger people it works like the plan and congress -- federal employees.
We get more for the poor the middle income in the sick less for the wealthy but more importantly.
We don't want.
Pres Obama's fifteen bureaucrats making decisions seniors to choose.
How -- your benefits are delivered them we think that's the best way to save Medicare verses -- the program like President Obama proposes.
And having these bureaucrats cut.
Medicare away that we did -- care for currency where does 6300 -- it's an old CBO number from an old budget proposal.
That we believe is variously.
Whose budget proposal from -- -- -- opt out both -- a couple years.
What it -- it he compared Medicare I'm proposals to the status quo Medicare which is unsustainable.
Under that that kind of measuring stick you could level the same charge against President Obama.
But here's the issue to what you're saying is it -- it.
That money would that 63 -- would not be available because under Obama either because Medicare is going bankrupt -- we're trying to -- it.
What President Obama does instead of shoring up Medicare's finances he's taking money from Medicare to spend -- obamacare but here's the issue.
The president can run his record.
It's a failure of leadership.
There are no jobs being created 23 million people are struggling to find work he promised on a plane would be below 8% and above 8% -- entire.
Election it -- to cut the deficit.
Four trillion dollar plus deficits so we can't run his record he hasn't changed -- a moderate his position so -- gonna run in the attacks he's gonna try.
And attack us with misleading attacks so the hope and change campaign of oh wait -- become the blame and attack campaign -- twenty and you.
Broadly outlines.
These budget should look there a couple of ten years of spending and taxation and so.
Do you broadly outlined it was between your plan is with numbers.
And Obama's plan and you -- short.
We put the budget on a path of let's get that we get government spending under control to where historically has been so how much less you spend and he would.
Well under the trillions of dollars under under the budget that passed the house we grew spanning 3% -- -- of president Obama's.
For half percent or something about that I -- 3% a year vs president Obama's point peppers here -- -- but it was a five point three trip trying or cut.
From the Obama budget but again.
What we're doing is we're offering the Romney -- -- And that plan is very clear about how to get jobs created.
-- Dick wrote back in this economy get spending under control.
In the problem with -- president Obama's budget -- it will bring it toward debt crisis it will give us more job -- you're talking about five point three billion trillion dollar difference over -- roughly speaking that was the house but that's that's -- that's spending.
Tax tax revenues how much less tax revenue you can -- it wouldn't actually revenues under -- -- these budget scenarios increase.
That's the point okay through economic growth about how much was different they go as a part president Obama's proposing.
I'm about a four trillion dollar tax increase on that tax increase we think we'll do great damage to economic growth it's a tax increase on job creators -- successful small businesses.
We proposed not to raise taxes but to clear up the tax loopholes -- a special interest loopholes -- lower tax rates for everybody families and small businesses.
-- certainty and job creation.
And that revenue line is going to be.
At or above where historically has -- right roughly how much it's about eighteen and a half percent of GDP that's how much money.
-- -- dollar.
And you -- -- at four trillion yet we we you know we do not have that for truly don't have that.
It's really we don't have it's about three point and -- -- -- -- -- about three point six trillion dollars.
Increased taxes but he's proposing we don't increased by three -- -- -- but you and anticipated increase revenues and assortment it would give -- number.
What we what we do and budgets this is the way it works is we target.
On the revenue line -- percent of the economy and then we target spending.
As percent of our economy bring those two together so that they balance the budget so we we don't do it in the way you're asking the question that's just it doesn't really work like that.
What we're saying -- don't have these massive tax increases the president Obama's promising.
Which are uniquely hitting -- a small businesses create jobs that don't forget.
Eight out of ten businesses America filed taxes as individual people and you answer the charge that -- -- -- Planning.
Massive tax cuts for the wealthy.
To expansive -- and he was but it.
What we're saying is get rid of special interest loopholes and deductions that are uniquely enjoyed by the wealthy so -- lower tax rates forever let me put it this -- People using -- -- from the people we're in the top tax brackets -- -- attach others more their income subject to taxation that allows us to lower tax rates for everybody.
Families small businesses and that helps us create jobs and prosperity.
Other countries are lowering their tax rates on their businesses while president Obama's proposing we -- -- tax rates and our businesses.
It's it's gonna make us less competitive it's gonna cost more jobs the Congressional Budget Office even says it all these tax increases occur it could put us back and -- recession.
We're saying prevent the Obama tax increases -- the economy because we know what's gonna cost us jobs.
And clean up the tax code stop picking winners and losers to the tax code get -- it's actually that are enjoyed by the wealthy.
So you can lower tax rates and ordering probably -- its taxation what -- sincere planets.
Specific of them which loopholes closed.
That is something that we think we should do in light of day through congress unlike how obamacare was not we don't -- backroom deal what with the Ways and Means Committee did with house -- It is to have.
-- process for tax reform so that we do this in front of it.
Of of the public can you know the point I'm trying to say is we want to get feedback from Americans about.
What priorities in the tax code should be kept in what special interest loop cause we want to get written you know the numbers namely can you.
Have the revenue record yes the budgets -- plan.
Without eliminating such deductions says the home mortgage interest deduction.
The deduction for municipal bond -- there there is what we call room for priorities in the tax code that -- broad -- what we don't wanna do.
-- have corporate welfare crony capitalism in the tax special interest tax giveaways it and we want to make sure that middle income taxpayers want to enjoy these benefits not higher income taxpayers.
And so with all of those in mind you do you have room.
For some of these higher priorities within the tax code but that's a debate we need to have with the country in public would want -- some kind of backroom deal with it didn't Harry Reid's office and passing obamacare.
-- -- -- It is said -- your disciple and obviously you read on ran as a young man you found notebooks compelling hurt not -- novels compelling she writes.
About these people with 100 prove conservative views particularly when it -- What is your view on and have you and -- and disciple of it George I've really enjoyed -- -- that was -- in particular it triggered my interest and economics.
That's where I -- studying economics that's why -- story.
The whole -- -- economics I later in life learn about what her philosophy it's called objective isn't something I completely disagree with it's an atheistic philosophy.
So but I think what she's done -- she showed she came from congress she showed how the pitfalls of socialism can hurt the economy.
Can hurt people families and individuals and that to mean it was very compelling novels.
Which -- freedom free enterprise liberty is so much better than totalitarianism.
-- socialism.
Those novels I thought were were interesting but her philosophy which is quite a bit different is something that I just don't.
-- who've been quoted as saying that speaking admiringly.
Of comments made by time and character to the affected.
Them.
Reserve for lows -- bank.
Should not be engaging and holding interest rates -- right in -- quantitative easing yet but I really worry about monetary policy.
I think it's been out very loose for a very long and I worry.
That we have a monetary policy likely course that fiscal policy -- and ugly with with a real inflation problem for the watchers -- And so I think we need to get to that the days where it's our normal monetary policy.
So that our dollar is secure there's nothing so you would impose further easing I don't I don't I don't think easiest call for I think.
In the crisis.
There were things the Federal Reserve had to do but they did do that when necessary.
But I do think the Federal Reserve is basically bailing out.
A fundamental failure fiscal policy which the failure of -- and Obama to actually get our fiscal house in order to create jobs so -- the Federal Reserve which is.
Playing with our monetary policy -- -- -- the President Obama has offered no leadership.
To get the deficit under control and create jobs and economic growth.
