'This Week' Transcript: GOP Vice Presidential Nominee Paul Ryan

RYAN: So -- oh, I think -- I think that's a great success. I would beg to differ that his record is not very good with respect to Iran. But to your Afghanistan question, we've always said that we agree with the 2014 deadline. We've always agreed with where we are headed on Afghanistan on 2014.

But where we've taken issue is making sure that the generals on the ground get the resources they need throughout the entire fighting season so that they can keep our soldiers safe and operating counterinsurgency strategy. And I fear that this is not what's happening. I fear that there have been more political decisions made in troop strengths during this fighting season.

And so we beg to differ with the president on parts of his Afghanistan policy. But we support the 2014 deadline.

STEPHANOPOULOS: Finally, I want to ask you a question about the debates. You're about to have the biggest debate of your life coming up in October. I know you're going to be preparing for it tomorrow. And I want to show you part of a FOX News debate from the Republican primaries and get you to respond. Here it was.

(BEGIN VIDEO CLIP)

BRET BAIER, FOX NEWS HOST: Say you had a deal, a real spending cuts deal, 10:1, as Byron said, spending cuts to tax increases.

Speaker, you're already shaking your head.

But who on this stage would walk away from that deal? Will you raise your hand if you feel so strongly about not raising taxes, you'd walk away on the 10:1 deal?

(END VIDEO CLIP)

STEPHANOPOULOS: If you had been on that stage, would you have raised your hand?

RYAN: You know, it depends on the quality of the agreement. It depends on the quality of the policy. Our negotiators in the super committee offered higher revenues through tax reform. John Boehner did as well. So George, what really matters to me is not ratios, but what matters is the quality of the policies.

STEPHANOPOULOS: So you wouldn't walk away from that deal?

RYAN: I would put in pro-growth economic policies.

STEPHANOPOULOS: You wouldn't walk away from that deal, then?

RYAN: I could -- I - there's no deal to walk away from. The point is, you're not giving me a deal to look at. You're giving me ratios. Here's -- let me say this. Our problem is not that we are overtaxed. We are overtaxed. Our problem is we spend too much money.

During the Obama years, we borrowed almost 40 cents of every dollar government was spending. Half of that borrowing came from other countries, namely China. It's unsustainable. We can't keep asking other countries to cash flow our government.

And so the problem is not that we need to take more money from the hard-working taxpayers of America, from families and small businesses, and spend it in Washington. That doesn't work.

The problem is we have to get our spending under control. We have to reform our entitlement programs so we can keep the promise of Medicare and Social Security for current seniors. And we need pro-growth economic policies that get people back to work. Economic growth, spending cuts, entitlement reforms, that's the recipe that works. That's what will trigger prosperity and get us back to growing the economy like we know we can.

STEPHANOPOULOS: But just to be clear, I just want to pin this down. If you get the kind of entitlement reforms you're talking about, you're willing to raise more revenues.

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