Romney on McCain: CNN 10/07/08

Mitt Romney on John McCain
"Lou Dobbs Tonight" 07:37pm
Commentary

TOPIC: economy, free trade

TRANSCRIPT:
MITT ROMNEY: John McCain has said first of all, he will consider freezing all discretionary non-military accounts, all of them. You can think about what an enormous impact that would have. Hes also indicated hed like to reform our entitlement program with regards to taxes, if the economys in trouble, what youd like to do is reduce taxes, thats typically the way to stimulate the economy unless were gonna reign in excessive federal spending, holding down taxes would mean unacceptable deficits and so Barack Obama, if he wants a tax cut, is gonna have to talk about cutting down on the government expenditures

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Medicaid dramatically reduce the growth of Medicaid by giving the states the free reign to take their Medicaid dollars and spend it in a way that they can help their own poor in the way theyd like to social security you got four major levers there but certainly slowing the rate of inflation, now the official benefit calculation on social security for higher income individuals is an idea that makes a lot of sense in my view on Medicare, thats the big, thats the big monster there, were gonna have to reform our healthcare system. John McCain has laid out a plan to get more people health insurance and to reign in the excessive growth in healthcare so hell do it.

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LOU DOBBS: This is not about the United States not competing internationally. What this is about is corporate America not giving away our knowledge base and surrendering our middle class to foreign labor because its cheaper.

ROMNEY: Free trade means trading between nations without a tariff.

DOBBS: David Ricardo suggested, for example, that we have equal levels of unemployment in comparative advantage between two trading countries whereas China has about 300 million people either unemployed or underemployed and our middle class of course is being put into direct competition with them. Thats neither fair nor is it free, particularly not in its impact is it?

ROMNEY: Well, Ill go back to the original point which is if you believe we should erect some kind of trading barrier so we dont trade with China, thats a valid position, its just not one that I think works long term for our country because I believe that by virtue of the productivity growth weve had in this country, we can compete with China, and we can compete with other nations, as long as the trade is fair John McCains gonna make sure that we do get those nations to treat us fairly and that we play on a level playing field and we can win and America will win.

LABEL: MR JM CNN 10-07-08 19.37 (MS#18) G

Category:

News & Politics

Tags:

• Romney
• McCain
• free
• trade
• economy

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MITT ROMNEY FOR PAULSON'S JOB!

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MITT ROMNEY FOR PAULSON'S JOB!