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Democrats make the case to stay the course on the economy while Republicans call for change
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1030 here in New York this is the number of the day on the economy number one issue on voters' minds this election year gotta get a new number -- ball -- -- US economy growing at an annual rate of 2% in the third quarter -- sakes Obama for America traveling and -- how are you doing good morning I'm great thank you for coming back 2%.
-- thing.
Well up.
The economy's been through a very tough time over the past several years the -- is.
The unemployment rate is at its lowest rate in five years consumer confidence is at its highest rate -- five years reaction -- -- can I can't in nineteen -- just a bit lower but I ask you about GDP.
Is now -- percent good enough.
We think it's needs to be -- needs to be growing faster that president the first person to say that he says nearly every day on the campaign trail we've come too far to turn back now.
That's why he's put out a specific plan the American Jobs Act that will create one million jobs he'd love congress to act -- he's talked about his plan to create manufacturing jobs put teachers back to work helps small businesses.
Were ready to do this we know we need to do -- we wanna do more Lotta people say that plan amounts to nothing.
I don't know that those people are and private sector economists have analyzed and said that's not the -- on the flip side.
Mitt Romney have a plan that the nothing burger private sector economists the Washington Post has said it adds up to no jobs so that's certainly.
Not the choice -- -- could not looking for let's get elected GDP because I think that's really the headline at the moment this what Mitt Romney said last quarter economy grew 2%.
That is less than half the four point 3% rate the White House projected when the stimulus plan was passed.
Less than half -- how do you defend that.
Well bill first.
We -- we all know that the economy was shrinking at a much greater rate it was shrinking at 9% nearly a quarter before the president took office nobody knew that at that time.
Where the larger.
-- Poll -- out of than we thought the question is where do we go from here.
And who has the Brent -- -- loneliness what -- is gonna argue and I would this afternoon is that all the policies on behalf of the administration.
Have not worked.
Because we're.
Still don't feel.
That's baloney we've created five point two million jobs over 32 months what is Mitt Romney's plan he had no.
Plan or your studies in America is what is -- you know this is common this is like a hay maker right.
23 million people out of work or stop looking for work in America today.
He's gonna say 47 million people on food stamps which is an increase of fifteen million over four years.
Ten trillion dollars in debt for years ago and now it's sixteen.
Trillion dollars in debt has he now taken the upper hand.
When it comes -- an issue the.
Economy hello lane not bill.
We honor the facts of the challenges we're facing.
These challenges to the middle class have been building over decades the question is what are we doing from here.
You know Mitt Romney likes a list stop statistics we don't know about.
But he has no specific plan he doesn't have a plan to create jobs he has not a tax plan he can pay for so we can say anything you want -- -- he wants the question is what is he gonna do to help the American.
And that's what elections are about I know you know that but listen the reason why I asked that question two days ago ABC news poll 60% of Americans say the situation America right now economically as poor.
But that's that's the choice that they use.
But governor Romney that same -- -- up fifty to 44% on the economy come back to it again are you losing on the issue of the economy today in this election.
Absolutely not the president is the first one to say we need to do more with come too far back too -- turn back now.
Here my specific plans that I want to do that I want to put in place to move this country Ford in that same poll.
People said they didn't trust Mitt Romney don't understand what they were going through that's been consistent people middle class families across this country don't think he gets it because he doesn't so -- -- question as to the American people want fighting for them.
Got a Jen -- thank you we will speak again next week okay sounds great holed that on your calendar -- -- well that as the numbers -- -- current market.
Well that is the question -- the American people want fighting for them so let's get the other side.
We'll bring in Jim Talent now former Republican senator from Missouri and a senior economic advisor to governor Mitt Romney's campaign senator welcome good to have you here this morning.
Good morning mark -- to hear that conversation.
It had nothing murder and Bologna.
Are what well -- -- -- -- economic plan according to it to Jen Psaki what he's -- -- -- Well.
She really couldn't answer the question could -- -- -- you are right in pointing out that the president.
Predicted.
Economic growth would be four point 3% by now it's less than half of that and I do want to say.
The entire drop in the unemployment rate is entirely attributable on these are government numbers to people become so discouraged that they're no longer looking for work.
So what's governor Romney want to do well -- two lead items.
Our tax reform which we think will produce seven million jobs over the next four years haven't done tax reform since 1986.
And a very aggressive plan to produce energy around the country was an -- -- -- -- -- nobody's talked -- before -- -- -- -- three million jobs.
And it it makes common sense to believe if you lower marginal rates businesses will invest and grow more.
And if you stop suppressing the production of energy we're gonna get more energy with more jobs and lower price.
Well you know what it when you look at the president's plan he talks about adding jobs in energy as well it's -- -- that he's been on for four years with mixed when mixed record frankly we look at some of the companies that have been invested in.
That have not been very successful so -- you know what what's governor -- -- -- how to be different.
Well.
It is that the difference is that the the administration been suppressing energy growth on federal lands as governor Romney said in the debates leasing is down 50% -- -- down a third on federal lands.
Think they kill the Keystone Pipeline they're pushing cap and trade.
Which the president himself said will cause the price of electricity to skyrocket.
So what's governor Romney want to do.
Well one thing for example is to allow the states to license and permit the federal lands within their borders -- they do it so much better.
Colorado licenses.
-- -- land for energy production.
On average in 27 days the federal government takes almost 300 days and he also has a very aggressive plan to develop outer continental shelf resources.
Beginning with the states that really want to do it which is Virginia in the Carolinas.
Yeah it governor -- had a lot of heat for the 47%.
Comment.
-- it does beg the question in terms of the numbers of people in the country who do except you know some kind of government benefit and -- and what kind of impact it has on -- when they go to the voting Booth and they say you know what I'm not so sure I think governor -- might -- -- take away some of the benefits that I do receive currently.
But the government and I want to sign up for that.
Yeah well this is that this is -- a governor who believes an opportunity for everybody.
I mean the way for people to rise economically -- an -- to support themselves and their families to get a good job and that's what his campaign is about.
That's what his presidency will be about it's a big choice that we have before us the governor is gonna talk about it today in his speech as you know.
In Iowa.
Well -- -- gonna ask what what what's gonna need a big takeaway from this speech.
Well that.
This is a huge election we can't afford four more years of this and we have a big choice in front of us we can go on -- -- broken promises not just on the economy but on the deficit on social security and Medicare.
And that in the president's bigger promised to unite us instead -- dividing us -- we can go to.
Governor Romney who has a history of working together with the other party and in Massachusetts senate history each operation so he's don't talk about the choice in the turning point the country nice.
We'll see how it's received both sides really slugging it out in these final day -- Senator Tom thank you for being here -- taxes -- thank.
