Transcript: 10 Freshmen Lawmakers Talk With Diane Sawyer

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And when we're talking about a cataclysm coming-- $14.3 trillion in debt. That is a looming cataclysm-- that's going to be-- unsustainable for our children, for our grandchildren. And-- and that's the children of this generation. Where we rise, will we make the sacrifices that are going to be necessary to get the fiscal house back in order-- to restrain-- the overreach of government. It's not-- any intent is bad. There was always a good thought behind it, but there needs to be limits. Because just like, you know, in our family lives-- there are limits to what-- not what we're capable of doing. There are just dollars not able to cover everything we would like to do. So-- that's-- that's the challenge of our time.

DIANE SAWYER: How many of you see yourselves still here in ten years? Really? Really? You look at this as came here, what, two years?

FRANK GUINTA: I don't think it's about us individually. It's-- it's about what needs to be changed for the country. And I think we all are very understanding of that. And-- it seems like the last two years have been more about individuals who are in Washington. We hope that the next two are more about the public.

MICHAEL GRIMM: It should be defined by those that put here in the first place. It-- if this election stands for anything, again, putting aside Tea Party, non-Tea Party, it's-- it's a unique point in our history where the average American got involved in the political process, which I think is extremely healthy. It's-- it's imperative for the future of our democracy.

But I really, wholeheartedly believe that ultimately they decide our future more than we do. And what we're here to do is-- is-- is the best we can openly, honestly, with the character and integrity that-- that the office should-- have bestowed-- you know, be-- have bestowed upon us.

DIANE SAWYER: We calculate-- to do a little presidential politics, 'cause we can't resist. We calculate four out of ten of you I believe were en-- endorsed by Sarah Palin. How many of you think she's the number one candidate for 2012?

FRANK GUINTA: I don't think anybody has a real idea of who the number one candidate is.

DIANE SAWYER: Is that-- is that a real idea?

PAUL GOSAR: I mean, you've got a lot of history to go forward in this next three months before it shapes up to where we see people getting into the race.

MALE VOICE: It's a wide-open race. Wide open.

DIANE SAWYER: And how much do you worry about what everyone says is the-- the almost irresistible-- what-- softening of the edges when you get to Washington, and the next thing you know, you're part of the establishment? You just are. You wake up one day, and you are the establishment.

TIM HUELSKAMP: Well, I think Republicans were-- were given a second chance, Diane, but I don't think we're going to be given a third chance. And-- and I'm worried what happens in the next two years if we don't get something done about $14 trillion--

DIANE SAWYER: Do you think there's a way to insulate yourself against what you think the worst will be?

PAUL GOSAR: Well, for the American people responding to that.

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