You're watching...
Republican Presidential Candidate Mitt Romney on the President’s handling of the economy and efforts to extend the payroll tax cut.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Assets and it is the man former vice president did well today throwing his support behind Mitt Romney ended throwing punches at present Obama.
-- -- moments ago the president's tax plans gonna hurt the economy not out.
Looks at the right course for America's not to raise taxes on people.
This this payroll tax extension.
It's probably a good idea not to raise taxes on folks that would have a pay a tax increase -- this extension were we're eliminated.
But at the same time recognize that this extension -- -- to get our economy going we have to have a fundamental.
Restructuring of America's competitiveness and this president has failed to do that these spending to much money he's not taken the actions.
That will allow people court who invest in this country who start new businesses.
Who expand businesses to make the decision to grow and America Edison would you be for extending that federal -- I would extend it because this is not the right time to raise taxes.
But I would not paid for by raising taxes and of the people that -- what ago what I would -- to pay for it.
-- to finally put in place a reform of our long term entitlement programs and to make sure that we could make them sustainable.
They reason I -- gives a few weeks ago so you would -- Did did this whole idea of a federal tax cut extension was like little band aids it offered only.
A temporary factors.
-- -- you argue that it's -- -- better than nothing has that and much.
Well I just wanna raise taxes anybody right now I'm I'm not in favor of raising taxes but I recognize.
Extending the payroll tax cut is gonna mean a little more money and that and they pockets of some middle class folks that are having a hard time right now that's a good idea.
But it's not gonna reignite this economy.
It's not gonna put millions of Americans back to work 2526.
Million Americans that are out of work -- Have stopped looking for work back into the work force -- that that's gonna take a more fundamental reform.
That this president remarkably has not been willing to put forward I mean we have a president three here's an end to his first term.
Who has not laid out.
And economic plan to put Americans to work and to rekindle our economy and -- megas globally competitive.
I -- extraordinary.
That this president has no vision for our economy.
And sure extending the payroll tax cut that's fine it's a nice thing to do for people that that -- -- little extra money but it's not fixing this economy.
Do you think it should be paid for -- Republicans were not.
So eager to pay for extending the bush -- tax rates for the well to do for example but unless -- are.
Well I think we have to look at that that that make sure that we put America -- track to cap how much government spends.
Right now government spending about 45%.
Of the entire economy that's too much we gotta get that down to at least 20% I've put a plan to do that.
I cut about 500 billion dollars annually from federal spending.
The president's got to come up with something -- of his own vision that cuts the extraordinary expense of this government and stops the unnecessary borrowing that that's that's step one.
And if we do it as part of this payroll tax.
Extension great let's let's Begin to see the president talk about how it's gonna cut spending and by the way.
Talk also about what he's going to do to reform entitlements he himself has indicated that social security and Medicare need to -- -- reform long term and yet.
Has offered no ideas.
As to what he do to make those economically sustainable long term.
Governor on the whitehouse dot gov web site there is a clock countdown clock to when the payroll.
Tax cut expires.
But no such Clark on the dead or anything like that would be taken -- Yeah that's very interesting I've I've -- -- my team has a big clock that shows what's happening the national debt.
That and the number is just extraordinary you know this president is on track to accumulate as much national debt.
As all the prior presidents combined.
-- it's an extraordinary and and I'd had disheartening record.
I think the American people recognized he is changing the nature of America he is building such massive debt.
That is creating a -- a nation of entitlements a nation of debt a nation with the government heavy hand.
And and the American people wanna go back to about a nation that's a nation of opportunity -- hard work in education and risk taking can build a better future for them for their kids that.
That's the fundamental choice it's gonna be faced by the American people.
Do we want big government based entitlement society -- who -- an opportunity and freedom they society that I represent the latter.
Governor I'm.
I guess Donald Trump is still waiting for an answer -- you -- you're gonna participate.
In his debate -- course this is a week ahead of the big.
Fox today don't be there I'm sort of prepare and mentality Chris Wallace -- outside about a but as -- this Donald Trump.
Hosted debate yes or no on the.
No I'm not participating in that we have two debates in December that I've agreed to participate in the rest of the month is gonna be spent campaigning.
Doing the political work you've got to do to get the support of people of Iowa New Hampshire South Carolina Florida.
So be -- in the trail I spoke with Donald Trump but earlier today but indicated that we just can't make this debate we're gonna focus on the of the two we've got.
And and -- some campaigning commodity sent.
He understood my my perspective and which may well.
That was that there was it wasn't more colorful -- Now I would say without colorful way had a nice chat that is -- -- that.
At this late date.
And and with the other debates we've already scheduled and then -- the number of requests by the way I think there are as several other you know five or ten other debate requests we've had.
For December and January which we just -- new ball moving so -- we tried do a couple of months.
