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Guests: Steven Rattner and Ed Gillespie

By Fox News Sunday, Fox News Sunday - June 3, 2012

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Special Guests: Ed Gillespie, senior adviser to Romney campaign, Stever Rattner, former Obama adviser

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This is a rush transcript from "Fox News Sunday," June 3, 2012. This copy may not be in its final form and may be updated.

CHRIS WALLACE, HOST OF "FOX NEWS SUNDAY": I'm Chris Wallace.adsonar_placementId=1502157;adsonar_pid=150758;adsonar_ps=-1;adsonar_zw=198;adsonar_zh=170;adsonar_jv='ads.adsonar.com';

With just five months to Election Day, the campaigns focused on job one-- how to get America back to work.

(MUSIC)

WALLACE: We'll hear from both sides on the rising unemployment rate and whether the recovery is stalling.

Ed Gillespie, senior advisor to Mitt Romney, and Steven Rattner, President Obama's former car czar.

Then, is Tuesday's Wisconsin recall election a preview of the presidential race?

We'll ask our Sunday panel about the possibility of traditionally blue states may flip to red in November. And our power player of the week, working to attract new generations to the father of our country -- all right now on “Fox News Sunday”.

(MUSIC)

WALLACE: And hello again from Fox News in Washington.

The economic news Friday was grim. Employers added the fewest jobs in a year. The stock market wiped out all of the gains it had made in 2012. How does this reshape the presidential race?

We'll talk with a former advisor to President Obama in a moment. But, first, we welcome Ed Gillespie, senior advisor to Mitt Romney.

And good to have you back, Ed.

GILLESPIE: Good to be back. Thank you.

WALLACE: Let's start with the jobs picture. For the first two months of 2012, job growth it averaged 267,000 jobs a month. For the last three months, it has averaged 96,000 with just 69,000 jobs created in May.

Question, what does Governor Romney think is the problem?

GILLESPIE: The problem is this administration and this president, policies are hostile to job creators and we see that on any number of fronts, whether it's the excessive regulations and mandates.

The mandate in the president's healthcare bill alone was estimated to cost 850,000 jobs in or economy by the Congressional Budget Office. You look at the Keystone pipeline decision which would have had an immediate impact on job creation. The proposed tax increases on job creators.

This is a hostile environment for job creation in our economy and that's why, frankly, it has a sense of urgency in terms of this year's election to be able to turn things around because the only thing that's going to change it are changing the policies and that means changing the person in the White House.

WALLACE: All right. President Obama says a big part of the problem is that House Republicans are blocking some of his jobs ideas that he's had out there sense last September, ideas like giving small business a tax incentive to hire more people or more targeted spending for infrastructure and to hire more people. Take a look.

(BEGIN VIDEO CLIP)

PRESIDENT OBAMA: Congress hasn't acted on enough of the other ideas in the bill that would make a difference and help create jobs right now. There's no excuse for that -- not when so many people are still looking for work.

(END VIDEO CLIP)

WALLACE: Does Governor Romney think that the House Republicans should pass some of the Obama Jobs Act and what about early action to deal with this big spending or spending cuts rather and tax increases that are automatically going to be triggered at the end of the year?

GILLESPIE: Couple of things. The House has passed job creating legislation that the Democrats in the Senate have not taken up and passed and sent to the president, and the president hasn't worked to get them done.

The problem is not what the Congress hasn't done with Republicans that control the House. The problem is what Congress did do when Democrats controlled the House and Senate and the White House in the first few years of this presidency.

WALLACE: But --

GILLESPIE: The stimulus bill and healthcare bill and Dodd-Frank excessive regulations are part of what's stifling our economy today.

WALLACE: If I may press my question: does Governor Romney, you know -- because forgetting the election -- the fact is the economy is going to be in trouble over the next five months. If he is elected, the next seven or eight months before he steps into office, does he think that the House Republicans should pass some of the Obama Jobs Act and what about early action to take away what is being called taxmageddon?

GILLESPIE: Chris, Governor Romney thinks we need stronger presidential leadership. You don't see President Obama -- all he does seemingly is campaign and go to fundraisers. Where is his leadership on this, on taxmageddon and the sequestration? Has he done anything at all to try to bring members of Congress together to try to avoid this?

WALLACE: Would he support early action?

GILLESPIE: I think he would wait to see what they came up with. But I think what he supports leadership, which is vacant right now, which is absent and that is what is contributing to the stagnant economy.

WALLACE: All right. The president says that the Romney plan to fix the economy is the President Bush 43 plan on steroids. Tell me specifically where does Romney differ from Bush on economic policy?

GILLESPIE: A couple of ways? One, I think there is a clear distinction on Governor Romney's policy toward China for example and currency manipulation. When you look at Governor Romney's support for entitlement reform, it's different in nature from President Bush's entitlement reform proposals.

But the most important thing is not the differences between what Governor Romney would do and how President Bush approached the jobs. There are major differences between what Governor Romney would do and what President Obama is doing and this is really the focus of this election and where it should be.

Those are pretty differences when it comes to entitlement reform and saving Medicare and Social Security for future generations, stopping these tax increases from hitting small business owners who traditionally provide two-thirds of the new jobs in our economy, and are going to get hammered under President Obama's proposed tax increases, and repealing the ObamaCare bill which has, like I say, a job-killing mandate and job-killing taxes in it as well.

WALLACE: But specifically on taxes and spending, does Romney have a different plan than George W. Bush?

GILLESPIE: He does, Chris. Like I say on taxes and spending both, what Governor Romney has called for in terms of bringing down 20 percent across the board tax cut, but offsetting that with specific elimination of tax deductions and see simplifying the tax code is different than what President Bush called for.

WALLACE: The Obama campaign is going after Romney's record as governor in Massachusetts. And let's take a look at that record. Here's their main charge.  Print  Email  Share    Recommend Tweet

continued...

< 1 2 3 4 5> adsonar_placementId=1493988; adsonar_pid=1373767; adsonar_ps=-1; adsonar_zw=612; adsonar_zh=240; adsonar_jv='ads.adsonar.com'; 'Mr. Sunday's Saturday Night Chicken'

MR. SUNDAY’S SATURDAY NIGHT CHICKEN:

 

More Than 100 Delicious, Homemade Recipes to Bring Your Family Together

 

 By Lorraine Wallace

 

 

 

For more information, visit mrssunday.com and check out 'Mr. Sunday's Saturday Night Chicken' on Amazon.com

 

Featured recipe: Herbed Buttermilk "Not-Fried" Chicken

FNS Transcripts

June 03, 2012

2012 campaigns talk unemployment numbers, job creation

May 27, 2012

Sen. McCain talks Syria, Iran and tensions with Pakistan; Cardinal Wuerl on Catholic institutions vs. Obama administration

May 20, 2012

Ryan, Goolsbee debate Obama, Romney economic records

May 13, 2012

Sen. Dianne Feinstein talks national security; Sen. John Thune on Romney veepstakes ADVERTISEMENT Follow Fox News Sunday

Follow us on Twitter to get exclusive updates and announcements from the show!

 @FoxNewsSunday

Fox News Sunday is on Facebook! Coming Up on FNS: June 3, 2012

The unemployment rate heads in the wrong direction, rising to 8.2% and the economy adds just 69,000 new jobs.  We’ll discuss the economic picture with a Senior Adviser to the Romney Campaign Ed Gillespie and the Obama Administration’s former Car Czar Steven Rattner.

ADVERTISEMENT Wallace Watch

April 29, 2012

WH Counterterrorism Adviser on Possible Terrorist Strike

President Obama's top counterterrorism adviser John Brennan joined "Fox News Sunday" to discuss a recent alert ...

FNS Panel Plus: April 29, 2012This week on Fox News Sunday: (4/29/12)Morning Booking Call Connect With FNS FacebookTwitterEmailFree PodcastBlogHulu On This Day

April 08, 2012

On This Day: April 8, 1789

The U.S. House of Representatives held its first meeting. Seven days earlier, the first U.S. House of Representatives elected Pennsylvania Representative Frederick Augustus Conrad Muhlenberg as its first

FNS Poll Take Our Poll(survey software) Shows America Live Fox & Friends Weekend Happening Now Studio B America News HQ Fox News Watch Huckabee The Cost of Freedom America's Newsroom Fox Report Justice with Judge Jeanine 'Mr. Sunday's Saturday Night Chicken'

MR. SUNDAY’S SATURDAY NIGHT CHICKEN:

 

More Than 100 Delicious, Homemade Recipes to Bring Your Family Together

 

 By Lorraine Wallace

 

 

 

For more information, visit mrssunday.com and check out 'Mr. Sunday's Saturday Night Chicken' on Amazon.com

 

Featured recipe: Herbed Buttermilk "Not-Fried" Chicken

FNS Transcripts

June 03, 2012

2012 campaigns talk unemployment numbers, job creation

May 27, 2012

Sen. McCain talks Syria, Iran and tensions with Pakistan; Cardinal Wuerl on Catholic institutions vs. Obama administration

May 20, 2012

Ryan, Goolsbee debate Obama, Romney economic records

May 13, 2012

Sen. Dianne Feinstein talks national security; Sen. John Thune on Romney veepstakes ADVERTISEMENT Follow Fox News Sunday

Follow us on Twitter to get exclusive updates and announcements from the show!

 @FoxNewsSunday

Fox News Sunday is on Facebook! Coming Up on FNS: June 3, 2012

The unemployment rate heads in the wrong direction, rising to 8.2% and the economy adds just 69,000 new jobs.  We’ll discuss the economic picture with a Senior Adviser to the Romney Campaign Ed Gillespie and the Obama Administration’s former Car Czar Steven Rattner.

ADVERTISEMENT Wallace Watch

April 29, 2012

WH Counterterrorism Adviser on Possible Terrorist Strike

President Obama's top counterterrorism adviser John Brennan joined "Fox News Sunday" to discuss a recent alert ...

FNS Panel Plus: April 29, 2012This week on Fox News Sunday: (4/29/12)Morning Booking Call Connect With FNS FacebookTwitterEmailFree PodcastBlogHulu On This Day

April 08, 2012

On This Day: April 8, 1789

The U.S. House of Representatives held its first meeting. Seven days earlier, the first U.S. House of Representatives elected Pennsylvania Representative Frederick Augustus Conrad Muhlenberg as its first

FNS Poll Take Our Poll(survey software) Shows America Live Fox & Friends Weekend Happening Now Studio B America News HQ Fox News Watch Huckabee The Cost of Freedom America's Newsroom Fox Report Justice with Judge Jeanine The Five Cavuto Geraldo at Large Red Eye w/ Gutfeld The Journal Editorial Report Fox News Sunday Greta Special Report The O' Reilly Factor Fox & Friends Hannity Specials War Stories Networks Fox News
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