You're watching...
Former McDonald’s USA CEO Ed Rensi on why the government’s debt is a major election issue.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Jobs jobs -- what this election's going to be about.
-- the economy and the debt financing that debt clock up there were approaching sixteen trillion.
And economic problems the foundational problems are are so substantial that they they need to redress -- He's running as a businessman to get things under control like any major business would push up the -- be able to look at that deficit reduce it.
Not hurt the little guy from.
I know that what people understand the debt.
And deficit spending of so called stimulus popular college of its deficit spending its printing money its borrowing money we don't.
It's -- this -- -- three million unemployed or underemployed Americans.
Trillion dollar deficits.
And less than 2%.
GDP growth.
Thousand.
The biggest names in business at the convention selling me the big problems they -- for economy.
This guys and -- about it long before any of those guys work.
Former McDonald's USA CEO Ed Ramsey had Republicans revenue a convention that at a record number of CEOs of all size businesses.
I'm not only -- only represented in the crowd but prominently represented among the 63 speakers.
They seem to mean what they say and what those business leaders are saying is.
Start thinking of us now is it resonating.
Absolutely.
Yard and the greatest cancer this country -- right now is this debt it is sapping the vital.
-- of our spirit.
Our economic capability it's putting pressure on families.
IE it is really awful to grassroots level I talked to a guy -- stated used to lay bricks and make 45 dollars an hour.
Now he's working two part time jobs make -- nine dollars an hour each one up and he's happy income -- twice -- jobs we struggle on his house is underwater.
It -- in Illinois got 65 billion dollar million dollars 65 million billion dollars pension debt that is got to cover.
And I guarantee if Obama gets reelected this state is gonna raise taxes through the roof -- when -- compared or they're gonna have to cut the pensions.
If so do you dig debt it elements that would this kind of -- and and and this kind of spending.
That it was one thing when Ronald Reagan you know was dealing with a sixty billion dollar deficit of the time coming in now we're looking at.
-- just numbers that are just unimaginable.
-- worse is there that kind of room.
For Mitt Romney to do what Ronald Reagan.
I think so because the -- great asset this country has is a spirit of its citizens.
And you know -- and Reagan said hope look to the future of their bright light on the hill.
And I think one he's got a lot of that any -- I look at that young vice presidential candidate.
-- Ryan -- remind me so much you Jack Kennedy my hero when I was growing up compassionate but sensible fiscal responsibility.
You know we can do this we just -- get about a we need firm leadership -- -- -- -- we can't keep mocking around like we are right now.
You know upon.
-- -- line we've never builds a statue to a moderate and other words.
Because views are are what move this country Florida where there's about John Kennedy and out on dates is do what.
-- thinking that you go to the moon what we were failing and one launch after another.
And and you know Ronald Reagan talking about to bring down an evil empire and and record tax cuts bring about an economic boom.
So there was a fair and balanced portrayal of presidents there but might gist is this for Mitt Romney.
You argued take to tinkering glass is -- -- polled think big one quick thing -- people wanna see and do right away.
If he would get elected.
-- just first.
All lift the spirit.
The United States and get some jobs going so people can feel secure dinner feel engaged but we have got to cut some this debt.
Young mr.
Ryan's got some great ideas on how to deal -- -- -- you know.
Hey my name is Mitt Romney I'm Don that kid to go for these brain he's he's sharp -- comes from middle America.
Gary went to school in Ohio house that's some good about here that have to I guess I just love that kid but you are trying to how touted tickets -- All absolutely it has a very very successful businessman.
Mitt Romney's got -- he's not gonna -- this symbol and jump up and down on drum heads and tell you what a great guy he is.
He's gonna get about the business the business and he's gonna look at these issues he knows exactly what to do.
Ed good -- coming out of yourself always good having had receded to the USA CEO of.
