tv This Week With George Stephanopoulos ABC May 20, 2012 9:00am-10:00am EDT
good morning. and welcome to "this week." the gloves come off as the house speaker draws line in the sand on debt limit. >> president, we're not doing things that way anymore. >> political politicians threatening to default. and on the campaign trail -- with bain capital. >> we view mitt romney as a job destroyer. >> obama's economy. >> they don't get us. they don't get who we are. and reverend wright all if play. >> obviously that's something that i repudiate. topics for our exclusive headliner. speaker john boehner and democratic leader nancy pelosi. then -- the facebook ipo and the founder who renounced his citizenship. that, and owl of the week's politics, with our powerhouse roundtable.
hello, again. president obama and his fellow g8 leaders left camp david last night for a nato summit in chicago. more evidence this week that we don't any consensus on how to do that here in washington, where the parties are still far apart to handle jobs and our national debt. speaker boehner laid down the gauntlet on tuesday. >> my principal on cut and reforms greater and the president's team fired right back. >> the debt limit question has bubbled up. do you see -- >> do you believe it? >> can you believe it? >> i don't understand this.
i don't understand it. but first, my exclusive interviews from the capital. i began by asking the speaker, to explain why he wants another showdown on the debt limit. >> american people are still asking the question, where are the jobs? and dealing with our deficit and our debt would help create more economic growth in the united states. and it would lift this cloud of uncertainty that's causing employers to wonder what's next? so dealing with our debt and deficit is important. >> isn't this actually create more uncertainty over the next several months? >> no, george the issue is the debt. you know, people aren't clamoring to invest in greece today. if we don't begin to deal with our debt and deficit in an honest way, we're not going to have many options. i'm not going to apologize for leading. the real issue here is, will the
president lead? >> what makes us like greece is putting the question of whether or not we're going to pay our bills making that a political question? >> george, remember, this is about jobs. if we really serious about getting the american people back to work, removing the clouds of uncertainty are important. you can look at the end of the year, we're looking at largest tax increase in america history on january 1st. big cuts to our department of defense, that affects our ability to keep americans safe. why do we want to wait and rush this through at the end of the year after the election? >> you know that this isn't going to happen between now and the election? >> it's important that we do what the american people sent us here to do. >> you talked about the end of the year. the national journal has written
about it. the big fiscal cliff, your last chance, boehner's last chance. a little bit of the article, it was quite piercing article in places. the writer john farrell said, false starts and failures characterize johnberryner's nearly two-year record as speaker. as the leader of the house gop, he has faced two crises of this scale and come up short on this each occasion. no one has doubted his sincerity, what they're looking for his lead. >> leaders need followers. we got 89 brand-new members. we got a pretty desperate caucus. >> some say they are leading you sf. >> and it's hard to keep 218 frogs in the wheelbarrow to something passed. >> quite an image. >> the challenge that i have, we
always have some members who want to do more. i want to do more, too, but republicans are still a minority here in wash phone. we got the democrats controlling the house. >> you're the speaker of the house? >> i know. we got the democrats controlling the senate. a democratic in the white house and our members are pretty frustrated can you get more half of your members to support a compromise with the democrats? >> we worked with democrats, we looked through all of the jobs bills in the senate, all of them passed with bipartisan support. >> how many of these big-budget bills. >> on the budget, we have done the budget. where is the senate? 1120 days since they have passed a budget. >> the democrats have come out all guns blazing this week on mitt romney's background on bain capital. ads in your state, ohio, the vice president went to your state and said that mitt
romney's experience at bain is one of costing workers jobs, costing them their pensions. how do you respond to that? >> i think mitt romney has had a very successful career and i think his prescriptions for fixing our economy are a lot better than the president's. #. >> do you think that experience will bring him down? >> i don't think so. i believe that romney's proposals will strengthen the economy. >> will his background at bain be an anchor in. >> i don't believe so. >> we saw this week, that whole flame-out on this issue whether or not reverend wright should be used in the campaign? >> the issue is not reverend wright. the issue is the economy. >> i saw an e-mail, they're already using that proposal to
raise money among democrats. >> this kind of nonsense shouldn't happen. the election is going to be about the economy. getting americans back to work and i think governor romney's prescriptions are a lot better. >> facebook ipo is today. and i know you don't pick stocks. i want to ask you, we saw a couple of senators yesterday, schumer and kasey, introduce legislation about one of the founders who renounced his citizenship, they said, anyone who renounces their citizenship, should pay all of their taxes or they can't come back. >> that's outrageous. >> what's outrageous? >> that someone would renounce their citizenship to not pay taxes.
>> how about on the issue of jpmorgan, their losses continue to climb, on this tlad that many believe, many believe it would run afoul of the dodd/frank law, they believe that this is a sign that even tougher regulation may be needed, are you still confident repeeling it is the right thing to do? >> george there is no law against stupidity. as long as the depose or thes, money wasn't at risk, no risk of a taxpayer bailout, they should be held accountable and they are. i don't believe there's anything in dodd/frank that prevented this activity at jpmorgan. there are big problems with this law. it needs big changes. >> a 1 in 3 chance that
republicans lose control of the house, there's a two-thirds chance that you hold it in your view, what could happen between now and november that would cause republicans to lose the house? >> i feel pretty good where we are here today. my job is as the leader, if everything falls apart that we still have the tools to hold on to majority in the house, we've got 89 freshmen members. running for re-election, in those cases, a lot of tough election. if the election was held today, i feel good about it. >> what do you say about the prospect, that president obama loses because of this wave and house republicans get swept out as well? >> i don't believe that's going to happen. as a matter of fact, i think most of our members are doing very well. but, again, you never know what's going to happen over the
next six months? >> you're confident that you'll come back as speaker? >> i am. >> thank you very much. his demand that a debt ceiling increase be matched dollar per dollar in spending cuts has hit a brick wall with the democrats. i spoke with nancy pelosi. >> my response to what the speaker said is, here we go again last year, not lifting the debt ceiling, caused our credit rating to be lowered. not a responsible, mature responsible place for us to go. we all know that we have to reduce the deficit, we have to do it in a balanced way. the speaker wants to go over the edge. we have cut over a trillion dollars in the budget control act since the budget control act of last year. there has to be more deductions. but we have to have revenue and growth. >> what about his idea that we
need to start working on it right now in. >> absolutely. i challenge the speaker to bring it to the floor. i think it would be bring tax cuts to the floor now, passing those would help our economic recovery, would be a clear signal that the upper end tax cuts to the wealthy will expire. because they won't be -- middle class tax cuts won't be held hostage to them. we can go to the table, what are the revenues that we have, what do we create growth, small businesses? this is exactly the path we should go down. we should work together. they're over the edge. >> the speaker is pretty clear about how pressure from his own conference. i wonder how much pressure
you're going to face from your own members on this. couple of weeks ago, you said that you would vote for the deficit reduction plan. that's caused a former member senator russ feingold -- he said it makes it easier for corporate democrats to join with corporate republicans to destroy these programs. >> i don't think he understands what that is. what i believe is, the frame work of simpson/bold was a very important one. it took a harsh look at all of our spending. our defense spending. it had the proper balance between cuts and revenues that we have to have. what i didn't like was what it said about social security, but that could be handled separately. to extend its life. what this is about, though, the
creation of jobs, how do we do is that? a balance between establishing our priorities, making cuts, making sure we're investing in the future and bringing in some revenue, our members have been -- we stuck with the president on the grounds that he had last year, he and speaker agreed to but the speaker walked away from. >> he said that the president upped the ante. >> that's simply not true. >> if this election is about the economy, the republicans are going to win. >> the fact is, this election, if it is about the economy, the president will make his case, that he has been a job creator from day one and the president's record of job creation, taking us from a deep recession, almost a depression, to a hopeful place, versus whatever the
republicans will say, but they have stood in the way of every job piece of legislation that would be significant in that regard. but let's have a debate. >> if the election was held today do you think the democrats would win? >> i do. it would be dead even. i think it's bigger than that. what he did say that was create, 50 republicans seats in play -- >> you're just back from afghanistan, found the taliban was gaining strength. did you see that? >> no, i don't disagree with the senator. they may have gained strength but they lost other ground. >> you're not worried if that happens the taliban would be able to take over? >> if the security is trained properly, yes, i think they can
protect their country. what we do not have an internal commitment to being there in a militarily way. >> what more could president obama do to win this election? what does he need to do to put over this very close race with mitt romney. >> the elections are always about the future. president lincoln said public sentiment is everything. regardless of all of the good things that he's done, he has to convey that to the american people. >> the dccc put out a fund-raising appeal, talking about the republicans super pac plan on reverend wright s that fair given mitt romney, the head of the super pac have repudia d repudiated. >> i don't think so. using the public record as a guide, was governor romney on tv this morning, they quote wad he
said in february, what he said just this past february, about reverend wright and then they said to him, this seems different from what you're saying now. he said i don't know what i said in february, i stand by it. >> so no regrets? >> no regrets. >> why would we have any regrets? he stood by his remarks in february. so, i think maybe it might be useful to see what he said in february and see he stands by those remarks. that's not what the election is about. three things, jobs, jobs and jobs. this election isn't about reverend wright. finally you're celebrating 25 years in the house this year, do you think you'll come back as speaker in the 26th in. >> i'm very excited about the election and the opportunity
that it gives us to make the distinction and very proud that president obama is at the top of our ticket. >> worry about the rest later? >> that's incidental. it's important that the democrats win. we have the proper airing. what i would like to see in this election, a recognition that we must reduce the role of money in campaigns. move on to campaign financing. when we reduce the role of money in campaigns and increase the civility, we'll elect more women to congress. let's get right to the roundtable now. i'm joined by george will, donna braz brazile, matthew dowd, laura ingraham, lieutenant governor gavin newsom. let's talk about this fiscal
cliff, one thing they both said is, george, both sides want to address this before the election, about the only thing certain not to happen. >> exactly. which means, they'll have about seven weeks to prevent $8 trillion i guess over a decade of tax increases and spending cuts from hitting a fragile economy. in discussing this, the word "debacle" is mandatory. we don't want to go through debacle that we had last august. to which i said, what debacle? >> the credit rating was downgraded. >> what happened? liquidity flooded in. and we sailed right on. what the president wanted at that time is a clean extension of the debt ceiling increase, which meant no restrain on spending. no supercommittee. nothing. >> gavin, are you seeing any of
the fallout yet in california as cutbacks for chaos? >> i love these guys. always concerned about uncertainty. here's the ultimate manife manifestati manifestation. how can anyone be surprised. george to your point, they don't feel a bebackle. not only cost our bond rating but a lot of confidence. it cost the president and i think there's pure politics in this. his ratings dropped significantly during that debate. congress, generally speaking. it was very telling to see speaker boehner talk about those 88 frogs. >> laura, this is kind of a deliberate strategy to hurt president obama before the election. >> when i heard nancy pelosi say, it's time to look responsible.
$15 trillion look mature? responsible? the debacle is the conversation about what to do with the debt. but it's not called a debacle by huge flaws of the political classes. whether pelosi's positioning herself here or boehner, it's beside the point. outside the confines of this studio across the country, people are shocked about what's happening in washington. a total dereliction of duty. >> i agree. i would love to see the congress come together with common sense solutions. this cannot be the republican u you know, for more tax cuts. it has deal with a balanced approach to spending as well as looking at these tax cuts that's going to expire, i think speaker boehner is trying to strengthen
his bargaining hand right now. they're trying to undo the sequester. they want to undo the bush tax cuts. we have a deal already on the table that the president signed, that cuts the expenditure. >> reporter: matt, the lame-duck session is the worst time, worst place to deal with this, either a new president who hasn't taken office, or reelect the president after a close election. >> the situation we're in, incredible dysfunction. people don't like either political party. they're tired of the lack of cop ration. we watched these two interviews. it was like an adult version of dr. seu, ss. we're going to have an election. the aftermath is only going to be more dysfunction after the
election. no sense in the country that there's long-term version from one of them to solve the dysfunction in washington and creating some trust in the government. that's the problem here. until we solve that problem, nobody buys into anything. >> i agree with that. i'm not sure it's that bad. we're going to have several elections to start this out. the country is of two minds of this. ron brownstein of the national journal, the parties are converging in ideologies, that makes for a stalemate. we'll have to live with that until several big elections -- >> talking about tax cuts, tax cuts, we have to have a year that we talk about creating jobs, how to invest infrastructure. >> that's all great.
but we have no money. this is like a big fantasy. we're tapped out of money in the united states and we're talking about infrastructure. we want great schools. but america has to get back to work. if we don't have more jobs in this country then this is all a big fantasy conversation we're having thoday. >> obviously, you're right, george n a lame-duck session, it will be very difficult to solve these things. to start right now, to poison the well in terms of the job creation that's going on as modest as it is, creates a tremendous amount of uncertainty. california has 2 million people unemployed. >> we got to take a break right now. we'll come back with a lot more coming up. bain capital. reverend wright. will either issue count come
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wouldn't want him. he would be so out of touch with the average person. how could you care? day one. president romney immediately approves the keystone pipeline, creating thousands of jobs that president obama blocked. president romney issues order begin replacing obama care with common sense health care reform. that's what a romney presidency will be like ♪ >> the ads on the air right now. let's talk about it now on our roundtable. george, let me go to you, we saw this week that the obama campaign and the democrats began this all-out assault on bain capital. joe biden gave a blistering speech. we saw the ads. they believe this is the best way to turn romney negative.
we saw newt gingrich try >> it i don't think so. first of all, the people making this argument have presided over an absolute wonder, which is why we have 365,000 fewer jobs today than we had when the recovery started in june of 2009. think of that and recovery that subtracts from the total of jobs in the country. they're focusing in this one ad on a steel mill. at a time in the '90s, when in one year, the america still industry lost $3 billion the industry had already shed 200,000 jobs as a result of the steel glut in the world. bain comes in. now the accusation in the ad bain came in as a vulture, bain invested $100 million in this one. >> when you buy a company, you sell the assets, lay off the workers and then leave town. there's more to this banking
than just one company and one industry. i think it's a large story and since romney won't talk exactly how he will create jobs, he gives a number and it changes with the weather and this is a continuation of where both rick perry as well as newt gingrich, they had these attacks and no you're attacking free enterprise. this is a way of doing business. it's going be used again and again until mitt romney can explain what he did at that time. >> he has gotten into a little bit of trouble talking about how many jobs were created. he said 100,000 jobs were created. he counts all of the jobs that followed him but none of the job losses. >> look, say i created -- you open yourself up to some
criticism. i think it's right for him to say, my record -- examine my record absolutely. but mr. president, you meet two weeks ago with the big donors throughout the united states in obama's camp. i looked back in the '09s to see if obama gave any speeches in the state legislature or otherwise against private equity firms, i have never seen anything written by him. i have missed it. vampiring all over the united states. this is clearly a campaign tactic. i don't think in the end it doesn't end up working. the spotlight is, are you better off 3 1/2, 4 years ago? the president will try to get away from that metric. his own metric, we're going to create more jobs, more growth.
>> not job creation, in order to maximize profit, you have to minimize cost. reducing jobs is a business of bain. this is the proof point of the romney campaign. that he can create jobs. he's 47th out of 50th in job creation when he was chief executi executive in massachusetts. absolutely fair game to question that as a basis for his run for president. it's a very shrewd campaign ad. obama hit this hard. >> how would you defend against him? >> i think mitt romney is vulnerable on this. if they made a well-done message and credible message on this and put weight behind it. i think the problem for barack obama has, one, they haven't
done this consistently enough. as laura said, i think he lacks some credibility on this. you can't say how evil these private equity firms are and then say, by the way, because i'm doing good for the country i'm going to take -- >> bain people support obama. some bain people are giving money to obama. >> when we're having an economic argument, when they're tired of losing jobs, they don't like big corporations. if this is a big corporation backing mitt romney versus barack obama, that's kind of a stalemate. >> we'll take the money to defend the president's record. democrats have to be confident about some of the things that we have accomplished. i mean -- >> there is hypocrisy there. >> the republicans have cut a lot of state and local jobs, manufacturing jobs are up. 11, good, strong quarters.
>> the reputation rate is disaster. that is not something to stand up, gosh, i'm proud of it. we have fewer people working. >> we're coming out of a deep recession, that requires all hands on deck, a balanced solution to the problem and what we're having is a one-way conversation. >> it's difficult to talk -- it's difficult to talk about in the context of a campaign about how realities of a capitalistic economy works. in 2001, the ipod is invented. remember records? they're gone. that's a good thing. now boarders is gone in large margin because of amazon and kindle. do we want to repeal amazon and kindle? this is the way world works.
>> you know, it doesn't feel like that if you vote for kodak. contrast that to facebook and ipo. only 3,000 jobs. this retooling of the economy creates tremendous anxiety. going after bain that participated in that anxiety is good politics and sound policy to have that discussion and that debate. but first, we saw this flurry this week over reverend wright, the return of reverend for a day. you see it right there. proposal given to joe rickettes to bring back this issue, now, as i said in my interviews, george will, mitt romney's repudiated and john rickettes ended up repudiating. >> john ricketts repudiated the
instant he saw it. his group is called end spending. that's what he's interested in. he asked some of his people to someone produce a plan, what they got a plan that ignored what he's interested in. he took one look at it and said, no. "new york times," that didn't fit their narrative. they said he's studying it, they have commissioned this. they have neglected the whole fact that is a story with a nice ending. >> the thing about this, all of us who have been in politics, i know fred davis, i have known fred davis, fred davis worked for me in 2004 in the bush campaign. fred davis is a creative guy, but fred davis requires adult supervision. the problem is, mitt romney -- this isn't going to been issue.
mitt romney repudiated this thing, nobody wants to talk about this. mitt romney, knows if we're talking about reverend wright, we're not talking about the economy. >> there's something else going on here, though, couple of weeks ago evidence of the obama campaign has an enemy lists. a very wealthy man getting involved in politics. this is another individual, ricketts, billionaire, ending spending, focus on economic issues this was a shot -- if you're wealthy, wealthy person in the united states you happen to be conservative, we're going to watch everything you do, sort of stop over the line, past associations with president obama, we'll try to destroy you. as far as i know, he didn't see
this proposal, i believe, george, the idea that he was considering it was a total false scenario put forward by the "new york times". >> the difference was, his name appeared with it, with a quote, that had john mccain produced a similar ad that barack obama wouldn't be president today. maybe there's a gray area between what the "new york times" said and what you're saying and more likely there was some discussion. they found and identified key leaders. i'm not convinced. >> is the president going to be held responsible for everything that moveon.org. jake tapper raised this issue last week, why does it always go one way? >> for bill maher? >> don't you think this is
leaked from somebody inside? >> who knows? the "new york times" described someone who's uncomfortable with the tone. it could be anyone. >> it could have been fred. fred did the ad -- these guys. media guys think if you're talking about them it's a good thing. mitt romney doesn't want to be talking about reverend wright, mitt romney doesn't want to be talking about contraceptions and he doesn't want to talk about any social issue. >> george, we have so much money involved in politics today. i feel like i won al gore's campaign on the cheap. running on the cheap and compared to the amount of money we have today, if you have a pet
issue, a pet cause, then take $1 million out of your whatever, your swiss bank account and then just run these crazy ads. we're going to have another conversation about reverend wright. i'm catholic. the truth of the matter is, the american people want to talk about the economy the future of the country. >> i think that's exactly right. in the meantime, donna brings up the money, one thing that we're seeing, this time around, mitt romney raised almost the same amount as barack obama. >> which is why this is suddenly become a problem to odemocracy. you were denouncing that in
2004? >> money has played a huge role. i know people are out there maki making the same point. it was a cash advantage to barack obama. but now it's 2 to 1. they each fund-raised in april. money isn't going to be the -- >> how many jobs created with this money? >> the obama campaign missing a huge window of opportunity. they had a 10 to 1 advantage when mitt romney was coming out of the republican primary, i think they missed this big window, they could have framed this race, now as each day goes forward, mitt romney looks like he has a chance to win this race. he'll raise more money and more enthusiasm. each day moves forward it gets harder for barack obama to frame
this race. >> nancy pelosi in the interview she said about money and politics. the amount of money spent in advertising for photos or car companies compared to the amount of the money in the election. >> the amount of money spent on politics from dogcatcher to president equals the procter and gamble. >> i want to put up a map right now. colorado, florida, iowa, nevada, north carolina, pennsylvania and ohio, donna brazile you have worked in campaigns, matthew, this is the smallest map that i have seen this early in a campaign. usually you're dealing with 18 or 19 battle ground states. >> i was shocked when i saw the list, george. even more surprised when i looked at the advertising rates.
in greensboro, north carolina, those guys won't be able to sao a soap opera until december. they're talking about the population, independents and moderates, and unless you move away and get ap.o. box they're inundated with information. the reason why is because i prescribe to a lot of golf magazines, extra activities, so i'm being targeted. people are being targeted in these individual states. >> you're totally right. in 2004 when we started the campaign there were about 15 states, it went down to 8 to 9, i think this is much more of a reflection of how the country, how particulolarized the countr. all of these people in all of
these states now, 08% of the country isn't going to see a vast bulk of this president rnl campaign. because they're not in one of these eight or nine states. >> we're just a big atm. all we get is visit and all big-funders. >> the clooney grid lock. >> clooney grid lock. george, what happens though in greece, as they're dealing with their debt problems, is going to matter more in this election than any else in. >> the optics in greece the riots, the carry-on, the general sense of a model that we're in danger of emulating is breaking under the weight of entitlements and the entitlement mentality. beyond that, if it gets to spain
which is a big country, i mean, greece has already defaulted, anything that happens, happens there, has been discounted by the markets. if it gets to spain it could affect our economy and none of the e.s that you can see could happen down the road could help the president. >> then barack obama could be in the position that john mccain was in four years ago. >> nothing that he can do. we're going to greek road, greek ruins could become american ruins, the weight of the entitlement structure, they didn't want to deal with it for years and years. now they're in a position they have to deal with it now. they don't want to have any of it diminish zbld when you're in a race basically dead even, this presidential race is going to stay that way and there are 5% 6% independent voters are
looking for is a signal what they should do. they like obama. so any little thing that says here's what you need to do. if something goes bad in europe in the middle of the summer, now, i know what to do. >> largest trading partner, we have a concern of what's going on in europe. europe is our largest trading partner. look, austerity programs in my of these economies they're tired of it. they're tired of the social contract being broken. they're seeing their way of life change. so this is a huge conversation that we're going to have. >> not a good time for incumbents. >> only a couple of minutes left, let's talk about facebook. mark zuckerberg married his longtime girlfriend priscilla
chan. a day after the ipo, it started the day at $38, it ended there as well. the only reason it ended basically where it started because banks came in to prop it up. >> facebook, which is about advertising it's not about your pictures of your dog wearing clown costumes. the third largest advertiser on facebook, general motors, said we're not doing this anymore. that's a small tremor, it could mean the whole economic model that this company rests is faulty. >> george, the economic model, in california, we talk about the facebook effect in terms of capital gains in the state, we're anticipated $1.5 billion. the concern of what happened with facebook or didn't happen with the ipo not popping is what
happened with other social media companies, their stocks plum meted and there's all kind of companies now, right behind, in line, in the queue for similar ipos. the underwriters propped it up. the more optimistic way, they priced the stock about right. in this day and age is a remarkable thing. >> facebook really will have to grow. right now, it's priced at 18 times earnings. it's making about $5 per user for google. they have a long way to go. >> the ipo for google was three-times earnings. look, can i promote my facebook page. i spent a lot of time on
facebook. see, you gavin said in the makeup room, when your parents are on facebook, our grandpar t grandparents are on facebook. maybe we'll move to the next wave. do more stuff on the cell phone. we'll have more private facebook pages or the next facebook. i think you got to wonder whether this is just more of a passing fad. as much as i like facebook. >> the revenue lines over the ne per user has gone down on facebook. first, we honor our fellow americans who served and sacrificed. this week the pentagon released the names of six soldiers and marines killed in afghanistan.
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