CNBC's "Your Money, Your Vote: The Republican Presidential Debate" Live from Oakland University in Rochester, MI ...
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BARTIROMO: And good evening, everyone. I'm Maria Bartiromo.
HARWOOD: I'm John Harwood.
BARTIROMO: We will also have some bright brains with us including Mr. MAD Money, himself. Welcome and now onto the debate.
(APPLAUSE.. Woot! Woot! Rah!)
BARTIROMO: Tonight, we are here in the great state of Michigan for a debate that will focus almost exclusively on the economy and how to fix the financial problems of our country.
On the stage tonight we have the elitist brains of the GOP Those who strive to take down "The Man" and take this country back from the clutches of you know who.....
HARWOOD: The candidates will have 60 seconds to respond to questions, 30 seconds for follow-ups and rebuttals. Those will be at the discretion of the moderators.
I must remind the candidates of the importance of SPECIFICS! We know you are all capable but please know we will..err.. may. interrupt you if you get off topic. Yes, please take a hint.
We also want you, the candidates, to help us out a little bit, by answering the questions as directly and specifically as you can. I know you want to. You have proven that. But just in case you get off topic, maybe by accident, we may have to interrupt you.
BARTIROMO: We begin with you, Mr Cain. We always do. Especially now..uhem..
So, Mr. McCain let me ask you this...
Another rough day for the 401k. Italy on the brink of disaster. As President, what would YOU do to make sure THEIR problems do not become OURS?
CAIN: Let's start with three things. First, I did not act all sexed up with that woman. Second, grow the economy. Third, assure the currency is sound. Cut Spending!
BARTIROMO: So, to be clear, allow Italy to fail?
CAIN: We can't save Italy.
BARTIROMO: Governor Romney, should we allow Italy to fail?
ROMNEY: Uh Europe, Italy needs to take care of it's own problems. Why step in? I'm sure they will CRY out and all the banks fail, I guess then we should step in.
But look, people are all amuck about our own banks. My view? No, NO and NO.
(APPLAUSE Yee Haw! Rick, I love you!)
BARTIROMO: But -- but the U.S. does contribute to the International Monetary Fund, and the IMF has given $150 billion to the eurozone. Are you saying the U.S. should stop contributing to the IMF?
ROMNEY: Italy is a sneak and will try to draw us in. We have to focus on the great U.S.of A's economy.
CRAMER: Congressman Paul...
CRAMER: Governor Huntsman? Interesting name by the way .. Hunts Man. Please, your thoughts?
HUNTSMAN: So we wake up this morning and find the curve is up.. prices are down. If we don't get a handle on this debt we are going to be Europe. We got that "too big to fail" thing going on.
HARWOOD: Thank you, Governor.
Governor Romney, I want to switch...
(APPLAUSE.. He wants to switch sides! Yow!)
Managed bankruptcy.
HARWOOD: What can you say to Republicans to persuade them that the things you say in the campaign are rooted in something deeper than the fact that you are running for office?
ROMNEY: Dear, dear John letter. See, people know me well, in MY state, Massachusetts ..bet you can't spell that one! I am a man of steadiness and constancy. You, well America, are not going to find someone with more attributes than I, the man of Massachusetts. I have been married to the same woman forever now.. haw haw haw!
(LAUGHTER.. Rock 'em Sock 'em Romney! Heterosexuality! Woot!)
ROMNEY: The same church all my life. ONE company. I am a one man band. I don't do anything but follow this straight single line! The easy path, Dear John. Obama, now he pushes some sort of idea that you gotta be modern. Pull out of Afghanistan? That isn't slow and steady! That's daring and thinking outside of the single straight line.. same woman, same job.. same ole same ole til I die.
(CHEERING AND APPLAUSE Woot! He's so predictable!)
HARWOOD: Governor Perry, I want to ask you about this, because you have raised this issue yourself about Governor Romney. And you are running as a politician with strong convictions.
HARWOOD: From the flip side, Ronald Reagan raised taxes when the deficit got too big, George W. Bush supported TARP and the auto bailout when he thought we might face a great depression -- second great depression. Does that -- examples like that tell you that good, effective leaders need to show the kind of flexibility that Governor Romney has shown on some issues?
PERRY: The very next President needs to send a powerful message to the WORLD! America shall be America Again! Can I get a Woot?
(APPLAUSE yee haw! Ride that horse!)
BARTIROMO: Speaker Gingrich, Federal Reserve Chairman Ben Bernanke has called unemployment in this country a national crisis due to the amount of days people are out -- months that people are out of work and the number of people out of work. Many of you have come up with tax reform plans. Why is tax reform the path to job creation? And if it's not the only path, what else can you implement to get people back to work?
GINGRICH: Bernanke is dangerous! Fire him rapidly. Rapid Fire!
(APPLAUSE Yes! Guns!)
GINGRICH: The Federal reserve needs to be audited! Sneaky things going on in Washington. Beware! Decay is coming, Folks!
(APPLAUSE..We are afraid! I love Fig Newtons!)
GINGRICH: That Barack Obama only leaves behind Food Stamps!
(APPLAUSE Yes! Kill Welfare to all except John Smoot P.O. Box 9921 Alabama Dr.)
BARTIROMO: Congresswoman Bachmann, same question to you. How can you create jobs as quickly as possible?
BACHMANN: Well, Yes it is taxes. They are evil. We have the highest Corporate Tax in the World! Second, that is. Evil! Taxes Kill Jobs! How sad is that? I can spit out statistics taking us back to 1981 so you think I'm wonder woman but we need to kill the Corporate tax! Corporate Tax is a real live breathing person! Murder! Other taxes, do whatever!
Oh! And the regulatory burden. Obamacare! Dodd/Frank. Repeal those bills. Gots ta go! Beyond that.
(APPLAUSE Will you have my baby?)
BACHMANN: You know how we will SAVE the American economy? Save the soul of the Corporate Tax? That poor breathing Corporate Tax that IS a person? Build a Fence around our border! Put electronic ZAPS! KILL those who DARE try and cross our border! Pregnant women, children.. if they ain't American blood, ZAP! But SAVE the poor person Corporate Tax. Don't make it Corpse Tax. .
BARTIROMO: OK.
(APPLAUSE Women in White make me HOT!)
HARWOOD: Senator Santorum, you proposed a zero tax on manufacturing businesses.
SANTORUM: Yes, that is true. Go on..
HARWOOD: I understand the sentiment behind that. And the state of Michigan has lost hundreds of thousands of manufacturing jobs over the last few decades. Isn't that the kind of distortion in the tax code that people want to get away from in order to get rates down: flatter, simpler, fairer?
HARWOOD: But it's down for the manufacturing industry, as opposed to people doing other things. Isn't that picking winners and losers?
SANTORUM: Huh? Our hat is handed to us by losing our job! We are uncompetitive! Compete! on Taxes, Regulations and repeal ObamaDon'tCare! .. every Obama regulation. Energy!
It's down for a sector of the economy, not picking an individual winner or loser. It's down for an entire sector of the economy that we are getting our hat handed to us by losing jobs.
(APPLAUSE..I was in a Sanitary napkins rule!)
BARTIROMO: You have all said that -- that you will repeal the president's health care legislation. We will get into that, because we want to know, then what? What is the plan once you repeal Obamacare?
(BOO!)
You've been a CEO.
CAIN: Yes.
BARTIROMO: You know that shareholders are reluctant to hire a CEO where there are character issues. Why should the American people hire a president if they feel there are character issues?
CAIN: Unfounded Accusations! Voters are proving their devotion with the mighty dollar.
(APPLAUSE)
(APPLAUSE)
(APPLAUSE)
HARWOOD: Governor Romney, when you were at Bain Capital, you purchased a lot of companies. You could fire the CEO and the management team or you could keep them. Would you keep a CEO -- are you persuaded by what Mr. Cain has said? Would you keep him on if you bought his company?
(BOOING)
ROMNEY: Look, look, Herman Cain is the person to respond to these questions. I'm not...
(CROSSTALK)
(APPLAUSE)
HARWOOD: Governor Huntsman, let me switch back to the economy. The...
(APPLAUSE)
Do you consider something wrong with the structure of our economy in the income inequality that it produces? Is that something government should do something about? And if so, what?
HUNTSMAN: I want to be President of the 100%. Cater to Corporations by not taxing them but don't help them by bailing them out. Help but don't help. What's so hard to figure out?
HARWOOD: So, Governor, you agree with Governor Romney that the bailout that Governor Snyder supports in Michigan was a mistake?
HUNTSMAN: Sure.
(APPLAUSE)
CRAMER: Governor Romney, do you believe public companies have any social responsibility to create jobs, or do you believe, as Nobel Laureate Milton Friedman, the most important, most influential conservative economist of the 20th century held, that corporations should exist solely to create maximum profit for their shareholders?
ROMNEY: This is all so philosophical and wonderful and debates and philosophy go together, you know. Democrats are our friends who think profit of Corporations is a bad thing. They get all funny about the execs getting big bonuses. That is a bad thing? Folks in Washington, the current President, doesn't want to see Corporations thrive. I do!
(APPLAUSE..Hail Corporations!)
CRAMER: Governor Perry, 30 seconds to you. Do you think that companies can both be profitable and be able to create jobs? Do you think it's a dichotomy? Do you think they can do it?
PERRY: It's all about the flat tax and putting a big old flag in the middle of America.
(APPLAUSE)
CRAMER: Mr. Speaker, how about to you, can corporations do both?
GINGRICH: Sure do! Look, it's amazing the academic world and Occupy people don't have a clue about history.
(APPLAUSE..HOWL to the moon!)
GINGRICH: Henry Ford built his car in a garage! What percent is he? Who needs college, not Bill Gates! The media doesn't know how the economy works.
BARTIROMO: Mr. Speaker -- I'm sorry, but what is the media reporting inaccurately about the economy?
BARTIROMO: What is the media reporting inaccurately about the economy?
(LAUGHTER)
GINGRICH: That was a funny!
CRAMER: Senator Santorum, I want to talk about a high-quality problem our country has. Would you favor incentives, incentives to get workers and businesses to where the jobs are to support this boom?
SANTORUM: Nope. My grandfather was a coal miner's son. Laser beam focus on Manufacturing because it's the folks without a college education that need the opportunity. Why promote education when you can lay out a plan just for them? Education? Phooey!
(APPLAUSE..Yeah for the dumb people!)
BARTIROMO: Let's get back to tax reform. Mr. Cain, let's talk fairness in taxation. Why now, when the higher income group is doing better than the rest of America, is the time to switch to the same rate for all of us?
CAIN: Only my proposal will solve this messy decade mess. Nine/Nine/Nine..
Sing with me now...
Imagine there's no number 9..
only seven and eight.
Who would six look up to?
We already have a ten....
Speaking of Bo Derek.. I did not sexually act sexual with all those lying women!
BARTIROMO: How do you ensure that, when the government needs more revenue, that the sales tax doesn't go up and that plan doesn't turn in 19-19-19?
CAIN: Only Politicians raise taxes. Just tell them don't. Simple .. .Point your finger and say NO!
(APPLAUSE Sing some more! I'm not wearing any panties!)
HARWOOD: Governor Romney, What is wrong with the idea that we should go to one rate? Why do you believe in a progressive tax system?
ROMNEY: We need flatter taxes. Simple times for simple people. Special deals. We have precious dollars that the middle man needs.
The President has failed us so badly it's so bad and terrible. People are suffering. I want to unhurt the hurt. Lower taxes on the middle folks.
HARWOOD: Congresswoman Bachmann, Governor Romney is accepting the premises of the Democratic argument that you have to have a fair approach to taxation that preserves different rates for different people. Why is he wrong?
BACHMANN: Well, I would say that President Obama is wrong because that President Obama doesn't know how to create jobs for true people. MY tax plan will benefit everyone in this Magnificent Magical Country. Everyone should be able to afford TWO Happy Meals. Don't worry, Be Happy and we ALL must sacrifice.
BARTIROMO: Congressman Ron Paul...
(APPLAUSE)
BARTIROMO: ... you have said you want to close down agencies. Tell us about your tax plan as well as closing agencies -- federal agencies. Where do those jobs go?
PAUL: My plan is a little different. Go after the spending disease.
(CHEERING AND APPLAUSE..Let the Tiny Man speak!)
PAUL: Get rid of the price-fixing bubble that booms!
BARTIROMO: So you think the economy would be stronger if interest rates were higher right now?
PAUL: Take care of the elderly. They are cheated.
BARTIROMO: Even though higher interest rates would make it much more expensive to borrow, mortgages.
PAUL: Lower Standard of Living and Higher Prices are comin' folks! Watch OUT! They are coming for us...BOOM!
(CHEERING AND APPLAUSE I love Fireworks!)
BARTIROMO: We are just getting started tonight. When we return, how will the candidates breathe new life into the lifeless housing market?
HARWOOD: Plus, the view of the economy from the corner office.
(BEGIN VIDEO CLIP)
(UNKNOWN): I think we are in serious trouble. Business people are struggling.
(END VIDEO CLIP)
HARWOOD: So how are the candidates going to turn things around? CNBC's "Republican Presidential Debate" will be right back. Stay with us.
(CHEERING AND APPLAUSE)
(COMMERCIAL BREAK)
BARTIROMO: Welcome back to be CNBC's Republican Presidential Debate.
With us for this portion of the program, CNBC's senior economic reporter, Steve Liesman.
Welcome, Steve.
LIESMAN: Great to be here, Maria. Thank you.
BARTIROMO: Speaker Gingrich, is Governor Romney right?
GINGRICH: You want to get through to the real value of houses.The federal regulators are anti- housing loan, and it has maximized the pain level. Decay. Pain.
BARTIROMO: Governor Romney, respond in 30 seconds. Not one of your 59 points in your economic plan mentions or addresses housing. Can you tell us why?
ROMNEY: Yes, because it's not a housing plan. It's a jobs plan. And the right way to get --
(APPLAUSE)
ROMNEY: Get people working and buying homes. Just do almost the exact opposite of what President Obama has done.
(APPLAUSE)
LIESMAN: Governor Romney, we have created 2.7 million jobs since February, 2010. The $7 trillion figure that Maria mentioned could almost double.
Are you willing to let that happen in America?
ROMNEY: And exactly what would you do instead? Would you decide to have...
LIESMAN: I'm asking you.
ROMNEY: Uh Fannie, Freddie, Frank and Dodd are to blame
(APPLAUSE Kill Them!)
And so our Friends, those Democratic Friends of ours are wrong. Let the Market work.
(APPLAUSE Three Little Kittens Lost their Mittens!)
LIESMAN: But, Governor -- Governor Perry, every quarter I get to report the GDP figures, and it's a negative number for housing, and we've lost some 2 million construction jobs. Housing creates jobs, as well, doesn't it?
PERRY: Not in Texas! My plan will get America working again.
LIESMAN: OK, so translate that plan to America.
PERRY: Energy. Regulation is killing America.
(APPLAUSE ..Texas is for Lovers!)
HARWOOD: Congresswoman Bachmann, So you agree with Governor Romney that the way to fix the housing market is to let the foreclosure process proceed more rapidly?
BACHMANN: Well, Freddie and Fannie brilliant. No they aren't brilliant. They are geniuses that are not. They are destroying the housing market.
(APPLAUSE Is your Husband really Gay?)
HARWOOD: Since -- since you mentioned Fannie and Freddie, Speaker Gingrich, 30 seconds to you, your firm was paid $300,000 by Freddie Mac in 2006. What did you do for that money?
GINGRICH: Were you asking me?
HARWOOD: Yes.
GINGRICH: I offer them advice.
(LAUGHTER Fat guys are the funniest!)
Look -- look, this is not -- this is not...
(CROSSTALK)
HARWOOD: ... and the -- to curb Freddie Mac.
GINGRICH: Am I to assume I get a second question? I am a Historian, you know.
LIESMAN: Mr. Cain, What would you do with these -- with Fannie Mae and Freddie Mac? Would you shut them down even though it could mean higher interest rates for America? Does it make it even harder than it is right now for Americans to get home loans?
CAIN: You don't start there. I have put a bold solution on the table, 9-9-9.
LIESMAN: I'm sorry, Mr. Cain, but you would come into office and Fannie Mae and Freddie Mac would be there. The question was, what would you do with them?
CAIN: OK. I would find a way to unwind Fannie Mae and Freddie Mac,
(APPLAUSE He said Fanny!)
HARWOOD: Governor Huntsman, I want to go back to the issue that you raised before about too big to fail.So, what would you do? Would you break up the banks to remove the risk, or diminish the risk for American taxpayers?
HARWOOD: So you break them up?
HUNTSMAN: They need to be right-sized.
HARWOOD: Well, how would you accomplish that? How would you right-size that?
(CROSSTALK)
BARTIROMO: Let's stay on regulation for a moment.Down the line, 30 seconds, if you repeal Obamacare, what's the answer?
Jon Huntsman?
HUNTSMAN: I would say meet with all the governors like I did in my state. Sit down with them. Harmonize medical records.
BARTIROMO: That's time.
We want to get each of your comments on what the plan is.
Ron Paul?
PAUL: Get the Government out of our business.
PERRY: Let the states figure Medicare out.
(APPLAUSE Rick is Slick!)
BARTIROMO: Mr. Cain. CAIN: The legislation has already been written. H.R. 3000. In the previous Congress it was H.R. 3400. And what that does -- it has already been written. We didn't hear about it in the previous Congress because "Princess Nancy" sent to it committee and it stayed there. It never came out.
(LAUGHTER No panties!)
CAIN: H.R. The sions to be with the doctors and the patients, not with the bureaucrat in Washington, D.C.
(APPLAUSE)
BARTIROMO: Governor Romney?
(APPLAUSE)
BARTIROMO: Mr. Speaker?
BARTIROMO: You have said you want to repeal "Obama-care," correct?
GINGRICH: Would you let me finish? If I may? Since I only have 30 seconds to answer an absurd question like my colleagues have done terrifically. With only 30 seconds I would say Transformation. I'm going to challenge the President to a seven Lincoln-Douglas style three-hour debates with a timekeeper and no moderator.
BARTIROMO: Would you would like to try to explain...
(APPLAUSE Is that a White Hair Piece?)
BARTIROMO: Would you like to -- would you like to try to explain in simple speak to the American people what you would do after you repeal the president's health care legislation?
GINGRICH: In 30 seconds? In ONLY 30 seconds? I have 30 seconds to talk about something in 30 seconds? 30? Seconds? Only?
BARTIROMO: Take the time you need, sir. Take the time you need.
GINGRICH: I can't! These guys will gang up on me!
BARTIROMO: Do you want the answer the question tonight on health care or no?
(CROSSTALK)
BARTIROMO: Do you want to try to answer the question tonight, Speaker?
GINGRICH: Let me say this very straight. Doctor-Patient relationships re-localized with Medicaid at the state level to experiment and focus on Brain Science and things which come directly from the Brain. We don't need to pay for Iron Lungs.
BARTIROMO: Congresswoman?
BACHMANN: Well, the issue is the cost. ObamaCouldn'tCareLess is the problem. Make it go away.
(APPLAUSE)
BARTIROMO: Senator?
(UNKNOWN): John?
HARWOOD: Congressman?
PAUL: My budget takes into consideration the healthcare for the old people and children. Because what we're facing today is a crisis in the housing bubble.
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
NARRATOR: Next, we tackle the issues of Social Security, a spiraling deficit, and so much more, when "Your Money, Your Vote: The Republican Presidential Debate" continues in 90 seconds.
(COMMERCIAL BREAK)
HARWOOD: And welcome back. Joining us for this portion of the debate, Rick Santelli, CNBC's on-air editor...
(APPLAUSE)
... and Sharon Epperson, our personal finance correspondent.
Now, we'll get to them in a moment, but, first, Senator Santorum, you were known as a tough partisan fighter in the Senate, but look where partisan fighting got us this summer, gridlock and a debt-rating downgrade. The American people don't much like it, and neither does Doug Oberhelman, the CEO of Caterpillar. Let's take a listen.
(BEGIN VIDEO CLIP)
OBERHELMAN: Most people think our politicians are not helping the country get back on its feet. The last two presidents made promises to work across party lines, and both failed. How will you put our country ahead of your political party and solve the issues that are so critical for Americans? Be specific, please. These are promises.
(END VIDEO CLIP)
HARWOOD: And, Senator, let me ask you about --. You raised fees to balance the budget, and you used that as an argument to get the credit rating of your state upgraded. Independent voters might like that. Should Republican primary voters be nervous about it?
ROMNEY: Thanks for reminding everybody.
(LAUGHTER)
This is a time to worry about America.
GINGRICH: The country ought to pay the debt it owes to the people Social Security.
(APPLAUSE)
HARWOOD: Governor Romney, if I could follow up, Speaker Gingrich just said..Do you agree with him, and would you also support, when it comes down to it, an extension of the payroll tax cut?
ROMNEY: I don't want to raise taxes on people. Of course not.
HARWOOD: So you're for it?
HARWOOD: But to clarify, you agree with President Obama the payroll tax cut should be expanded?
ROMNEY: Don't raise any taxes. Cut spending. Cut Programs like Obamacare.
People who are public servants shouldn't get more money than the taxpayers that they're serving.
(APPLAUSE)
HARWOOD: Does any candidate on this stage disagree? Does any candidate disagree and oppose an extension of the payroll tax cut?
BACHMANN: Say that again, Sam?
HARWOOD: Does any candidate disagree with the Speaker and Governor Romney and oppose the extension of the payroll tax cut?
(UNKNOWN): Yes.
HARWOOD: You oppose it?
(CROSSTALK)
HARWOOD: Out of time, Congresswoman. Governor Huntsman?
SANTELLI: Our federal government still owns 500 million shares of GM stocks, guarantees trillions If you were president, how would your administration and would your administration reverse these obligations?
HUNTSMAN: Uh clean up the balance sheet! But what really matters is Leadership. We have failed Leadership.
I'm not sitting here or standing here talking about academic theory. As a Practioner I want to phase out loopholes on corporate welfare and be competitive! Fire the engines of Growth!
(UNKNOWN): Sharon Epperson?
(BEGIN VIDEO CLIP)
(UNKNOWN): Tuition rates have increased roughly three times that of inflation over the last three decades.
(UNKNOWN): More students have to take out loans or forego college.
(UNKNOWN): My generation is graduating with student debt levels at an unprecedented level.
(END VIDEO CLIP)
EPPERSON: So, Congressman Paul, So how would you make college more accessible, more affordable for these students and students around the country?
PAUL: Student Loans is a total failure.
(APPLAUSE)
We should get rid of the Department of Education. Inflation is the Big problem.
EPPERSON: But how do they pay for it? How do they now pay for college, if they're not...
PAUL: The same way you pay for your cell phone! Competition! Look! That's where that booming bubble comes from. We should end the Fed.
(APPLAUSE)
EPPERSON: Thank you, Congressman.
Speaker Gingrich, Congressman Paul just talked about a bubble. Are you worried about student loan debt becoming the next government bailout?
GINGRICH: You know, this is a great place to talk about the end of welfare dependency and dishonesty. They scheme and cause decay! It's coming folks! Let's shock the students of America when they learn they have to go to class and get out quickly!
(APPLAUSE ..School is for Losers!)
BARTIROMO: Governor Perry, name the top programs that you would cut in terms of long-term deficit reduction. Include Medicare, Medicaid, Social Security, and defense spending in the order you see fit.
PERRY: It's all those entitlement programs. Maple Syrup Shots for all!
BARTIROMO: So what is your order? And you didn't mention defense spend.
PERRY: Uh, well, obviously Social Security can be blended into blended price and wages and save billions of dollars right there. Who's going to stand up for the young people of this country? Well, I will!
HARWOOD: Speaking of young people, a quick answer. Do you agree with Congressman Paul that we should kill the federal student loan program?
HARWOOD: But would you kill the federal student loan program?
PERRY: It's not the Federal Governments business to be paying for programs.
HARWOOD: Thank you, Governor.
PERRY: --Long distance learning, for instance.
BARTIROMO: That's time.
HARWOOD: Thank you, Governor.
BARTIROMO: We're going to take one more quick break. When we return, final questions to the candidates.
HARWOOD: Our CNBC's Republican Presidential Debate will be right back.
BARTIROMO: Welcome back to CNBC's "Republican Presidential Debate."
HARWOOD: Mr. Cain, Is that smart, purchasing by government in a global economy, or is there something wrong with that?
CAIN: Why I have proposed a bold plan, 999... I did mention it was BOLD didn't I?
(LAUGHTER)
CAIN: ... and allow me to explain. The first 9 is sales minus purchases goods produced and the level playing field of the rest of the world. Articles from the Chinese.. replace the tax code....
HARWOOD: Governor Romney, was it a mistake for Governor Schwarzenegger to hire the firm in China to build portions of that bridge?
(APPLAUSE Chinese Cheaters Suck!)
HARWOOD: So a good decision to build the bridge over there?
ROMNEY: Well normally but when you got Chinese Cheaters out there stealing and hacking computers and stealing and manipulating our precious money and being predatory killing America Jobs. Look! I love free trade but crack down on these Chinese Cheating China Cheaters stealing our jobs!
(APPLAUSE I hate Chinese Checkers!)
BARTIROMO: But how do you crack down? How do you crack down, Governor? Are you talking about new tariffs? How are you cracking down?
ROMNEY: Huh?
BARTIROMO: How would you crack down on China?
ROMNEY: Well, do what that President should of done a long time ago. Label China as a currency manipulator. Charge them! We can't let them kill jobs!
(APPLAUSE I prefer Chess!)
BARTIROMO: Speaker, in addition to that, so many companies -- multinational companies, They're not getting a fair shake in terms of selling to that 1.5 billion person population. How would you move the needle?
GINGRICH: There are two things here now let me say. Government Huntsman speaks Chinese.
It's all about American Regulation
(APPLAUSE Huntsman is a Spy!)
Raise the pain level for the Cheating Chinese.
BARTIROMO: Time. Thirty seconds. Jon Huntsman, you were the ambassador to China, 30 seconds to respond.
HUNTSMAN: 30 seconds? For Christ's Sake! What's with these time limits and regulations! It's so complicated. You can applause and pander here and there and slap tariffs but you move forward in an unglamorous way and grind. For 40 more years...
HARWOOD: Are you saying Governor Romney's pandering?
(CROSSTALK)
HARWOOD: But you're suggesting it. He's standing right here. Would you say that he's pandering on this issue?
HUNTSMAN: It will create a trade war.. but let me tell you longer...
HARWOOD: Governor Romney, are you pandering?
ROMNEY:Hey, hey now I'm a business man.. 25 years now. We can't let China steal our jobs.
BARTIROMO: Congresswoman Bachmann, weigh in here. How do you open the markets in China for American companies?
(APPLAUSE)
CRAMER: Mr. Cain, I want to go to you with this question. This does not lend itself to 9-9-9 or any other number.
CAIN: Sorry, I didn't hear the first part.
CRAMER: This question is NOT about your Big Bad Bold 999 plan so DON'T go there!
It's all about restoring trust and faith in our markets and in our way of life. I'm going to be quoting Joanne Kornbly (ph). She e- mails us.
She says, "Our stock market has turned into a casino with high- frequency computerized trading comprising 70 percent of all transactions and hedge fund speculation resulting in market swings. Before privatizing Social Security, how would you make the stock market safer for individual investors?
And Mr. Cain, just simple, how do we restore faith in the markets for the little guy?
CAIN: 9-9- .. well grow Business! Restore the Economy. We need a Bold Plan that I won't mention.. but it has to be BOLD...
(LAUGHTER I'm braless!)
CRAMER: When the economy was going great, sir, there was no trust. Talk about the way the market is regulated.
CAIN: Jim, I know Pain. Jim you have to grow business.
(APPLAUSE)
BARTIROMO: Governor Perry, same question to you. The same question to you and Congressman Ron Paul.
How do you restore faith in the public markets?
PERRY: Cozy Relationships with people in Washington and those they are regulating is the problem and Fannie and Freddy
You need a President committed to pushing forth these laws.
HARWOOD: Congressman Paul, Governor Perry was just talking about the culture of Washington. His critics in the state of Texas -- you're a congressman from Texas -- say crony capitalism is what he practices as governor. Are they right?
PAUL: I haven't analyzed enough. I am clueless to the details.
Those bailouts... that's why we're facing this crisis today.
BARTIROMO: We want to thank all of you tonight. That is all the time we have for CNBC's Republican Presidential Debate.
We thank all the candidates for being here tonight and spending the time and putting their plans forward.
We hope you now have a better understanding of where each of them stand on the economy, jobs, and your money.
(APPLAUSE)
Very good post!
ReplyDeleteWhat is so funny? Isn't this transcript of real debate? :-/
ReplyDelete