TRANSCRIPT: ABC News/Facebook/WMUR Democratic Debate

Let's take jobs, which we haven't talked about. We've touched on a lot of other things; we haven't talked about jobs. We've had a trade and tax policy that is bleeding American jobs. And all it has done is pad the profits of the biggest multinational corporations in America.

You talk about professors here, at this college. Let me say a word...

GIBSON: Well, I shouldn't have done that, apparently.

EDWARDS: Yes, it was a mistake.


But we are -- I saw a projection, just a week or so ago, suggesting that America could lose as many as 20 million to 30 million more jobs over the next decade.

Think about that for a minute: 30 million.

And who's the most at-risk group?

EDWARDS: College graduates. This is not just people who are working in mills and working in factories who have been devastated by this -- completely devastated. These are middle class families. These are college graduates and their jobs at risk.

We need a different tax policy, a different trade policy where the first question is -- and this is what I will ask when I am president of the United States -- is this trade proposal, is this tax proposal, is it good for working, middle class Americans? That's the question.

GIBSON: Senator Obama?

OBAMA: There is no doubt that the economy has been out of balance. It's been out of balance throughout George Bush's tenure. And some of the trends from globalization preceded George Bush.

That's why I have proposed specific tax relief now, immediately, so that we would offset some of the payroll tax, that we would immediately put some additional dollars in the pockets of American families, working families typically making $75,000 a year or less, to not only stimulate the economy, but also to balance out a tax code.

And I would pay for it very specifically, by closing tax loopholes and tax havens. You've got a building in the Cayman Islands that supposedly houses 12,000 corporations.

OBAMA: That's either the biggest building or the biggest tax scam on record.

But the larger point is that we have to get back to a notion that opportunity and bottom-up economic growth is what the president should be fighting for.

And what we've had is a top-down agenda that is skewed toward the wealthiest Americans. It is making worse some of the trends of globalization that are already out there.

And one of the benefits of this campaign has been to listen and talk to the folks all throughout New Hampshire who are tired of it and want to see something change.

SPRADLING: Just very quickly, just for the governor -- I know we're running out of time. And I'd like to get this to you. You're going to say what you're going to say on this topic. But just, could you please address, as a governor, the small-business owners, in this tax talk, who may fit the category that we're talking about, but who are also providing the payrolls, proving the health insurance and are worried that if they lose out on this, that they could, too, be hurt?

SPRADLING: That's 75 percent of New Hampshire's economy we're talking about.

RICHARDSON: Well, also, like Governor Lynch here, I'm the only one that's actually run a state economy. I'm the only one that's balanced budgets and created jobs.

So, here's my response. You asked about how we improve the economy.

One, you got to balance the budget. I mean, this is $9 trillion debt to China, to commercial banks.

We got to have line-item veto authority for the president.

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