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Rep. Peter Welch, (D-Vt.), on Obama’s policies’ impact on business and efforts to reduce the deficit.
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Joining us now is congressman Peter Welch he's a Democrat from Vermont frequent guest on the program congressman welcome to the programme always good to have you back so thank you.
-- -- earlier today I was saying that this is pivotal election.
Of extreme importance because in my view it's which direction America wants to go -- I think that under President Obama with headed towards a more European.
Style society with a lot more government.
-- I personally want to go back to the America of free enterprise and American exceptional as.
Do you think -- is -- -- stock a contrast is that.
Well this is stark contrast the vision of the by governor Romney and President Obama is quite a bit different.
I don't think it's as extreme as you say in we're gonna see the verdict to be in tomorrow but whoever wins it's going to be tight we know that.
I'll go out and -- is a Democrat and predict that President Obama but whoever wins will probably have a divided house and senate.
And the big challenge for folks like me.
Is are we going to be able to be -- and start moving in good direction it's gonna make America stronger and I think some markets will react yeah that is.
-- -- -- my point that the issue weren't coming from public comment immigrants I came to America nearly forty years ago I came from essentially European style socialism.
And I see the same thing happening -- -- now but I walked away from all those years ago.
More and more government higher -- -- taxes mobile regulation.
Government intrusion to every aspect of the economy.
You see that two -- well.
-- I got actress who NIC and I in it's it's not that start I don't think.
But we've got to get more productive we've got to have more opportunities and middle class.
The best.
To the best social program is a good job there's a lot of agreement on that how do you do it.
Now I'm what in the world -- little -- -- -- I got my Italian journal experts congressman is that government does not.
Create a free enterprise dynamic system that highest people and creates jobs it does not.
You can you can show me is just -- got a government should mean example -- the government it's government action it's not just a -- middle class of prosperity and expansion.
It's it's not that it's not the Japanese government to create jobs -- to be a partner with private enterprise enterprise walker president -- -- god -- great -- I don't ask don't.
You know that that's actually in my view not quite right.
I mean you have to have infrastructure there are government projects that are required in order provide that infrastructure that we need like we need broadband expansion here in the state.
We've got to have governmental policies that are gonna help do that we need -- -- big bridges to be repaired.
There's got to be some restraint because it's not government doing everything in government can't creative about five in the private sector but it can.
Be helpful or it can be an impediment so it's a question what policies work in what surely it's just -- -- I at the moment so don't be on the Islamic is an impediment on private enterprise it's an impediment.
Dodd-Frank black members with former surgeon -- I we're in the financial system Obama -- restricts want that -- -- -- huge percentage of our American economy the banks.
It to the American people -- -- it could weigh in on your opinion and mine tomorrow so we'll see what the majority feels about it but you know Dodd-Frank is an example.
The big banks really went wild and cost an enormous amount harm private sector action -- that's amount of economic pain.
Dodd-Frank should are justly so that we actually start building up our small banks -- -- them and not have been burdened by -- this but I.
The president is not really running on Dodd-Frank he's unable to run on his record instead it's been conducting this reelection campaign that is attacking.
Mitt Romney personally.
And -- Texas and where the way to go then why is California's unemployment rate north of 10% and worse than the national average.
Well that you know the under about it hasn't been tax and -- don't know even the state of California bonds -- -- -- -- state of California.
I'm sorry a -- part I don't data Khaled.
-- -- -- -- Yeah I I don't know the -- in California they've got constitutional restrictions that make it very difficult to make adjustments.
And I just don't know enough about it to speak of it what President Obama -- -- a second we don't have much real Obama wants to raise taxes raise taxes under Obama -- raise taxes on income tax raise taxes across this huge tax increases coming down the pike in a second Obama Tom.
And he's got to spend that money well we just doesn't actually -- I -- this is tax and spend written Long -- -- Actually what the president is talking about is a balanced approach to deficit reduction and you've got to transcript of this interview with the deploying register.
And what he was talking about was two dollars and fifty cents a cuts for every dollar revenue in my view.
And a lot of Republicans agree with me if we have a balanced approach the Pentagon makes a contribution.
Domestic discretionary entitlement reform as part of the equation in revenues are part of the equation you have a balanced approach.
When I talk to business folks they say look we've got to see you moving in a direction.
It's gonna bring the trajectory of that debt down.
In if it's slow and steady.
That's going to be good for the economy that's -- they need to see that's where congress -- got to be well in -- work together not see this is an all or nothing election.
No matter who gets elected we've got to be more functional the president's own budget plan.
Is still thought twenty trillion dollars worth of debt in 2060.
But I -- -- when it with a prediction.
You -- -- President Obama wins a second term can you tell me what the the point spread is.
Now -- gagging going to be tight tight tight -- you know the reason I say that is cities persistently held the lead in Ohio and it's all about Ohio and that's why you see.
Governor Romney going to Pennsylvania he's looking for hail Mary.
Passed a hell married -- that was that was a helmet as interesting helmet with 28000 -- people.
Congressman Peter Welsh Democrats -- thanks for joining us appreciate it thank you.
That businesses are.
