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Where does 2012 campaign stand?

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    Fair and balanced debate with Sen. Ayotte, Gov. O'Malley

  • Duration 16:23
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And hello again from fox and is in Washington.

Big changes in the presidential race this week the Romney campaign was re energized by the governor's strong performance in the first debate.

But President Obama got a big boost with a new jobs report that showed a sharp drop in the unemployment right.

We're gonna have our own debate today between democratic governor Martin O'Malley of Maryland.

And Republicans senator Kelly Ayotte of New Hampshire and to both of you welcome to Fox News on that -- -- -- -- press let's start with those new jobs numbers that came out Friday the unemployment rate dropped from eight point 1% to seven point 8% that's the lowest since President Obama took office.

The government said 1141000.

Jobs were -- that enough -- -- survey 873000.

More Americans reported.

Having jobs senator any -- isn't the economy getting better.

Well I think Chris what's so disappointing about the report is that.

-- down tick we -- -- unemployment is because of part time work.

For economic reasons so people who want full time jobs taking lower pay you can't support a family on part time work.

And of course we still have the sad fact that we've got the lowest labor participation rates since 1981.

If the number of people that were working -- participating in the work force were the same as when the president came in office.

The unemployment -- it would really be 11% so.

I don't think there's any cause to celebrate here and I think -- you had told the American people for years ago.

That the unemployment -- it was going to be seven point 8% at this point during the president's term.

I don't think anyone should be satisfied -- happy with us.

Governor are you satisfied or happy not -- -- any of us should be satisfied we want to return to form plot.

Full employment but what we've seen now is 31 months and months and a -- consecutive months in a row private sector job gains.

So it is far better to be gaining jobs than losing eight.

100000 a month as we were when George Bush was in office we still have a long way to go but we're moving in the right direction.

Unemployment now has been driven down.

To a 44 month low it is lower now than it was in the last month of George Bush's presidency last full month.

And we've also seen home foreclosures driven down to their lowest levels.

In five years so -- -- lower now than when President Obama took office so it's all about middle class security security in your home security and entry in your job.

And we're making progress.

But governor O'Malley even at seven point 8% which is what it is as -- Friday that no president.

Has been re -- -- unemployment this high since FDR back in 1940.

No president has been elected with growth this -- it's now one point 3% for the second water.

With growth this low since they started measuring GDP growth in 1930.

By historical standards this is -- very weak recovery.

-- without a doubt we still have a long way to go and speaking of FDR no president since FDR was left.

Bigger job losses bigger unemployment bigger deficits more wars.

Then President Obama was by the failed policies of George W.

Bush which resulted -- on directly the greatest job losses since FDR.

This is not easy this is hard work but we're moving forward.

Chris let's talk about though his policies of course we didn't hear in an hour and 25 minutes of debate anything about the stimulus package because if you look at that policy.

They trickle down government policy as the governor described it.

We they represented we be below 6% unemployment right now after spending all of that money.

So they had full charge of the first two years and the policies that this president put into place.

Actually made it worse including the fact that Obama cares actually small employers it's causing them not to hire.

Because of rising health care costs gas prices have doubled.

The middle class is being buried under this administration and the vice president's at a very aptly and it's true.

Let's.

-- -- to a couple of the issues that came up in the debate obviously the jobs report came out after the debate both sides since the debate have been saying that the other candidate.

Is lying about his position and and let's start with taxes.

Governor the president keeps saying that Mitt Romney is proposing a five trillion dollar tax cut.

That's not true well Chris when a minute here the governor's -- I mean former governor Romney.

Is proposing a 20% cut to income taxes including income taxes for the wealthiest of Americans and I believe it 30% cut.

To corporate income taxes including for people like big oil that are sucking all of us at the pump right now.

Any economists may debate whether that's off adds up to four point nine trillion -- does -- add up to five trillion.

But the fact of the matter is in this debate we saw big bird meet the big lie.

In fact when you do those sorts of tax cuts.

There are cost of those tax cuts the biggest driver -- our deficit organist at a time -- it that's you're you're talking about half the planet would be like talking about Obama's jobs plan.

And saying his entire plan.

Forgetting the country back to to give more money to teachers and then saying well that's a ridiculous but let's not Obama's plan similarly your -- characterizing.

The Romney plan you're saying it's your right there's five trillion dollars by lowering the tax rates but he also talks about cutting loopholes and ending -- -- that but that is the article say Kress.

Which loop -- -- which deductions senator I doubt very seriously.

You would be in favor of doing away or cutting the home mortgage deduction for middle class Americans senator -- -- governor Romney has not set.

What his secret plan is for guy on -- these five trillion in tax cuts.

Just like he won't talk about what his tax returns have been what how much money we -- -- -- respect governor first of all that governor Ronnie made it clear in the debate.

And he was actually able to speak directly to the American people.

That he is not -- lower the burden on upper income individuals we all know Chris that upper income individuals relied more heavily on deductions.

That he is going to give the relief to the middle class that it's going to be deficit neutral.

And of course one of the best lines of the debate was you know you can I've got five -- and you can tell the story.

I'm used to hearing the story five times and had me believing it to be true but we know it's not true what they're saying.

About his tax plan now let's talk about the president's vision.

-- Where does and -- -- we'll let -- let let let let's finish and -- and then we will talk about the president's vision senator because part of the problem.

Part of the problem is and I have -- Romney and Ryan repeatedly I asked Ryan on this show last Sunday.

Not I don't agree with you that it's a five trillion dollar tax -- -- where do you make up the five trillion dollars from lowering tax rates.

In terms of the deductions and and the little -- how do you make -- top.

They refuse to tell us and independent experts say even if you took the white all the deductions it's not gonna add up to five trillion dollars.

Chris that the governor said the debate he understands that he's gonna have to -- sides of the -- We know right now that for example in the house Dave Camp is working on this issue of -- simplifying even Max Baucus in the senate they've had discussions.

He said in the debate listen I'm gonna work -- members of both sides of the -- it's looking -- -- some symbols type model this is this is not new.

And we know that it can be done and of course if you go back to when it was last -- of simplifying the tax code that was -- course.

-- both were a lot more specific about that she -- lowering the rates but also how they were doing that is he's gonna work across the -- unlike this president when push through their health care bill on a partisan basis.

He's gonna listen -- both sides of the aisle and he's gonna make sure though that those three principles.

Stay clear that he is going to give relief to the middle class that he's going to make sure.

That were more competitive of course creating jobs because so many small businesses what file as individuals.

That higher income individuals will not be paying less and that it's not gonna impact the deaths now you're about to talk about the president yes.

Well you know one of the things is the president's vision for our country.

The best way -- put forward a vision is a budget.

And he talked about at the debate his stuff so called four trillion dollar plan to reduce the debt but what that really is is this budget.

The budget that he put forth one of the most shocking things about the lack of leadership in Washington from this president.

Is that in three years not one member of either party would vote for his vision his budget why.

It's the worst of both worlds.

A massive tax increase that hurts job creators and it brings us to 25 trillion dollars in debt.

And so that's the vision so we can expect more one of the things that came out of the debate.

Is here we are we're gonna have more of the same.

More taxing regulation debts and economic -- Let me ask you about the president's budget governor because one of the things -- he's he counts a trillion dollars that was already part of the debt deal last August and it's not a new proposal it's old -- things.

That we're both sides -- to an August and it also takes almost a trillion dollars in budget savings spending savings from.

The war is that they weren't gonna fight -- -- -- that we were borrowing money for us what they're not saving money and operatives in the budget you're saying.

We're gonna count is -- as the war as we were never gonna fight in the first.

That's -- I think there's actually I think there's actually two different numbers you have to look at you have to look at.

The operational budget but you also have to look at the structural deficit.

When President Obama took office he was left to ten trillion dollar.

Deficit by his predecessor who squandered our surplus in two.

A huge deficit so in paying that deficit down you should score the fact.

That we are coming out of Iraq and Afghanistan and the other thing that the president has proposed and that he understands his.

That you we cannot cut our way to prosperity we need a balanced approach and growing our economy by doing things like the senator -- -- like restructuring the auto industry.

In order to put people back to work and make manufacturing jobs growth is one of the actions that we need to take.

In order to do that the fact of the matter is the president because he has the responsibility of office.

Has been specific about what he proposes a Mitt Romney tells us to trust them.

With this plan is hiding behind door number three with Carol Merrill and his undisclosed tax returns.

You know come to have you practiced the -- -- -- -- -- having the lines are great but Chris the bottom line is this his budget.

Tax increase on job creators budget gimmicks.

Brings us to 25 trillion dollars and number ten -- In fact this president has added more debt than any other president and he said he would cut the deficit in half while senator governor and here we have had another four years of trillion dollar -- it's simply not true you know you're in the united it is not true but he said he would cut the -- That half senator ten trillion dollars is what he inherited and you should know that the deficit is now around fifteen or sixteen trillion -- it is not true would you send it.

And he really didn't governor Romney has added word that he is not -- any other president that's not true than any other president.

No it's not true debate Monday President Bush left him with a ten trillion dollar deficit and I don't have added four point eight guys eight guys -- -- -- and I thought I was gonna talk for the Jim Lehrer and ongoing debate.

Let's discuss.

A big -- that never came up in the debate and that is that the fiscal -- -- spending cuts and tax increases that is coming at the end of the year sequestration as it's called -- -- the president and congress work out a deal.

Under what's called the -- act.

Employers and this is not just federal employees employers all companies must tell workers sixty days in advance of mass layoffs but ten days ago.

The Obama administration told companies with federal contracts.

To ignore the law don't notify your workers of these coming -- also is part of the fiscal let's sequestration.

And it would pick up the legal costs from any lawsuits -- that are they -- what's wrong that.

It's actually quite shocking -- but it's another example of this administration.

Ignoring or skirting -- -- to help the president's reelection chances.

Because here's where we are.

Sequestration is going to be a -- and January we haven't seen the leadership from the president on this.

And he is worried because that companies.

No they're gonna have to lay people off they told congress this and so on becomes -- -- an opinion saying you don't have to comply with the law.

And the worst part is that taxpayers are on the hook for their litigation costs when their workers don't receive the warnings that they're supposed -- -- Governor but why is that right and Chris I have a lot of moms and dads that work in places like Northrop Grumman Lockheed Martin.

I refuse to believe.

That wants this election is past that members of congress will not come together to find a way to put a greater priority and our nation's defense than we do on defending.

Gobs of tax cuts for millionaires and billionaires.

The senator's self I think voted against that sequestration.

Move Paul Ryan voted.

For -- I do believe.

It's an irresponsible path and I'm confident that after this election that we will find a way to.

Re prioritize -- little -- and ultimately if you're so concerned about the middle class.

Why not.

But these workers know that they may be laid off Chris none of the none of those employers wanted to send that -- is warn notices by would you do that when.

Why would you -- -- they obviously the what was passed because they didn't want the employers to decide they wanted to force them to notify their workers but the -- to cause that sort of disruption about.

Something that all of us as Americans trust and believe that our congress will be able to work out what would you believe congress is gonna work on anything well Chris because the devastation the economy would be so grant -- -- -- I oftentimes disagree with my counterpart Bob McDonnell in Virginia right but we happen to share a region of science and security.

Jobs depend on our ability to put a greater priority in our nation's defense.

And a balanced budget than it does on more tax cuts for millionaires and billions and that are.

I just have to make two points first first of all we know from Bob were -- book that this was the president's idea on sequestration.

Second the other thing that's ironic about this -- you know that when the president was hidden in the senate.

He and Hillary Clinton introduced the bill.

To allow workers have greater notice but now he doesn't -- -- comply with the law because it these notices will fall right for the election here's the most disturbing -- fact.

What sequestration does to our national security.

And this president has not shown leadership and I'm deeply concerned he should be leading the effort right now in congress result -- got.

Less than a minute wait I got -- got less than a minute left and I -- like -- -- charity equally early indications after the debate that Romney got some kind of bump in the polls.

And and ask you both briefly thirty seconds each.

Governor what does this race stand right I think we have three more debates coming -- one of which is the vice presidential campaign.

Where Paul Ryan has been very specific.

About what he would do in a budget.

And that is a budget that would be bad for our economy bad for job growth.

It would increase taxes on eighteen million people and so -- we have a few more rounds to go on this fight what we saw the first one was.

A very energized performance it was big bird meets the big lies and now governor Romney's going to be challenge for the remaining thirty days to explain how it is that he pays for.

Five trillion in cuts and tax cuts for millionaires and billions and without the rest of us -- -- sales tax.

The debate was a reset of this campaign Chris and what he gave us an opportunity.

For the American people the first of all it took to debunk the myths created by the Obama campaign through false advertising about governor Romney we saw.

The Mitt Romney that I know in those who have worked with -- -- American people get to see that which is someone who's a proven effective leader with a vision.

On how to turn our economy around and a path forward to address the debt.

Unlike this president we heard more of the same America can't afford more of the same.

Senator Graham and governor O'Malley and the thank you both for coming -- who was that person behind door number three guys -- -- you know remember that.

Now let's make it -- behind Milosevic inhaled but Carol Merrill C was one behind door number operates and governor Romney's -- his plan and I got everything I got that part of it is how does and I'm mostly remember the people dressed up like lobsters I thank you as glaring back at level -- -- -- -- Larry enough thank him.

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