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Economy Key Focus of RNC, 2012 Election

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    Rep. Peter Welch, (D-Vt.), on the president’s plan to revive the economy.

  • Duration 4:59
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Senator -- -- -- but Portman he took aim at president Obama's economic plan in his address to the RNC.

-- -- -- I ask you.

Where's the president's economic plan.

Blaming others who does not qualify as a plan.

Now.

The president did submit.

A budget.

It was so bad folks that not a single Republican or a single Democrat in the entire United States congress would vote for it.

He got zero votes.

That is a failure of leadership.

All right so need he asked the question -- is the president's plan.

Joining me now is congressman Peter Welch he's a Democrat from Beaumont and he joins us is -- -- -- -- much for being with us today so we do appreciate -- I if I can give you very easily twenty seconds on what the Romney Ryan budget met -- -- plan is -- -- and -- very easily.

Can you give me twenty seconds on what the Obama plan is.

That's balance.

He is submitted a plan that would -- reduce its debt by three trillion dollars over ten years and essentially.

It would have revenues.

It would have cuts including in the -- gone in would have a reforms in the entitlement so is a balanced approach is supposed to.

Everything being loaded on the cut side on domestic discretionary spending.

Why didn't the -- Democrats in the senate who were in the majority vote for.

Didn't -- visited had a chance you know I think the senator how would split you know senator -- would not put it to the senate would -- -- -- -- he's the leader of the senate.

Majority party in the senate he would not put the president's budget to about.

Well realistically it's dead and in other words if you have heard Republican majority mr.

Boehner decides what to put up and they passed the Ryan budget.

And then have the sixty vote filibuster hurdle in the senate there was no chance whatsoever that anything other than Republican budget would get considered so that's just politics.

Politics on both sides in the inability -- congress Republicans and Democrats.

To get together and compromise on something you know the thing that I played out -- really quite and a glaring is that Paul Ryan last night was talking about Bowles Simpson.

Going after the president for not pushing that and in fact those Paul Ryan's vote.

That denied congress the opportunity to have a mandatory up or down vote on so.

There's an enormous amount of gamesmanship going on here the Republican majority in the house had a shot.

And having congress vote at a serious.

Debt reduction program that Paul Ryan's vote is the one that didn't night congress that opportunity to do -- the -- turns -- claims.

President Obama so we're in the convention season there's a lot of -- -- outright lying I think that's what.

We're -- and they contend with now.

May I ask the same question to you'd have -- many people who appeared on this program that's this.

The president wants to raise taxes on those people making more than 250000.

Dollars -- yeah that's part of a plan OK got it.

That would bring in an estimated the CBO says that would bring in May be eighty billion dollars idea.

That would then be spent.

On education and infrastructure.

How would that create jobs.

Well my view is that actually an it infrastructure spending every billion dollars of infants infrastructure spending create several thousand jobs.

In America needs to be investing in the future by the way infrastructure spending is where we've neglected.

Doing something that's going to be a very important for our economy and in -- Normally Republicans and Democrats -- favor that you know we can get rid of earmarks and just -- the roads and bridges that we need roads and bridges to somewhere.

Build out -- I think that's something that it would there's potential for Republicans and Democrats to work on but we really -- had a hard time even getting.

A temporary transportation bill passed this year -- you know -- a lot of room for American a solid step problem.

But we do have to cooperate in it has to be balance.

Would you say that if the president plan as you've outlined if you look past in full you got it it's in place.

Would that give us 405%.

Growth which you forecast that.

Now I I don't know what it what I'm not a forecaster and you know what we have to acknowledge.

Is -- we do have a very serious economic challenge.

And it's a consequence of that out of the recession that occurred as a result of the financial bubble.

And traditionally when you've got a financial bubble induced recession and that's who are coming out -- it's much tougher to dig our way out of it.

And the more we just go back and forth in the blame game the -- -- going to be able to find some common steps we can take to move forward let me just give a few examples I'm energy efficiency if we put some.

I'm I'm terribly sorry congressman I I NS I got -- I'm just flat out of time I'm very sorry -- and I I really don't mean to cut you off.

I just flat how to -- Vick showed today.

Congressman -- Peter Welch Democrat Vermont we do appreciate you being with a so thank you very much.

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