'This Week' Transcript: Gene Sperling and Sen. Kelly Ayotte; Plus Dennis Rodman on His Trip to North Korea

BLOOMBERG: There's a lot of posturing. I'm going to lay off my employees today unless you do something. I'm going to -- we're going to close the hospitals down, we're going to put -- take all of the prisoners from jail, and put them on the streets. Spare me, I live in that world. I mean come on, let's get serious here.


STEPHANOPOULOS: And at least twice this week, the administration got caught exaggerating the impact. The president claimed that Capitol janitors are going to get a pay cut. The architect of the Capitol denied that. He said it was premature at best. Education Secretary Arnie Duncan -- Duncan, couldn't back up a similar claim that he made about teachers getting pink slips. So how do you respond to critics who say the administration is engaging in scare tactics?

SPERLING: Well, you know first of all you know those Capitol janitors will not get as much overtime. I'm sure they think less pay that they're taking home, does hurt. But I think the real issue is that, this is as the president said, a slow grind. When this sequester goes off, yes it's not going to hurt as much on day one. But again every independent economist agrees, it is going to cost our economy 750,000 jobs just as our economy has a chance to take off.

George, you could bring CEO after CEO on your show who would tell you that this type of uncertainty, and dysfunction in Washington is forcing them to hold back projects that they would be doing that would be creating jobs. They're worried it's going to hurt their small business suppliers. And as -- and my belief is that as this pain starts to gradually spread to communities affected by military spending, to children that need mental health services, to people who care about our border security, I believe that more Republican colleagues who are concerned about this harm to their constituents, will choose bipartisan compromise on revenue raising tax reform with serious entitlement reform.

They'll choose this bipartisan compromise over, what is an ideological position that every single penny of deficit reduction going forward must be on the middle-class, our seniors, our children, and that there can't be one penny that comes from closing loopholes, or tax expenditures. That is not a position that the public supports. It's not the kind of bipartisan compromise we need to move our country forward.

STEPHANOPOULOS: Before you go, I have to ask you about this strange sparring match you had with Bob Woodward of the Washington Post this week. I guess it began with an email exchange that you had about an article he wrote last week in the Washington Post, saying the president was moving the goal post on the sequester. I guess you had a heated conversation, and in email you apologized for it. And then went on to add this, you say, "As a friend, I think you'll regret staking out that claim." Woodward seemed to take it as a threat, listen?


WOODWARD: It makes me very uncomfortable to have the White House telling reporters, you're going to regret doing something that you believe in.


STEPHANOPOULOS: I read all of the emails. They seem pretty civil on all sides. Do you have any idea what made Woodward so uncomfortable? And have you all spoken about it since and cleared this all up?

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