'This Week' Transcript: Gov. Bobby Jindal and Gov. Martin O'Malley

Secondly, he says let's produce more energy at home. Let's approve that Keystone pipeline, over 100,000 jobs there. Let's do more domestic energy production in the gulf and elsewhere in this country. Let's produce more oil and gas, especially from shale plays, already created over 600,000 jobs, could create another 250,000 jobs, will help secure manufacturing jobs in the steel industry, in the plastics, in the fertilizer industries.

Third, he -- he has also said we can't afford all of this spending. You know, President Obama created a new entitlement program, and we can't afford the entitlement programs we've already got. Mitt Romney has said let's repeal and replace Obamacare, get rid of those over 20 tax increases, $500 billion in tax increases, $500 billion in Medicare cuts, a program the president promised to protect, making cuts now that (inaudible) says are not sustainable, not realistic.


JINDAL: So Mitt Romney has already said on the first day he would not only cut taxes, he would also rein in spending and stop all of these regulations that are killing jobs, while at the same time regulating Wall Street in a prudent way.

MORAN: Well, OK, so, Governor O'Malley, this is a forward-looking program, according to Governor Jindal.

O'MALLEY: The Romney program?


O'MALLEY: You mean the health care program that Governor Romney passed?

MORAN: No, the whole economic recipe.

O'MALLEY: Oh, the economic recipe. That would say -- or an economic recipe for disaster. And it's been proven. You want to talk about insanity, doing the same thing over and over again? You know, nostalgia is not want it used to be. I don't think most Americans want to go back to the days of George W. Bush, record spending increases, record deficits, record unemployment, record job losses.

I mean, the fact of the matter is, while we would all like the recovery to be happening faster, unemployment is lower now than it's been in three years, home foreclosures are now lower than they were before President Obama took office.

Look, the direction's clear. We need to move forward. And we need for the Republican Party, the party of Lincoln, to reclaim their party from the radical Tea Party Republicans that would rather kill our economy than -- in order to try to score points in this election rather than move forward.

MORAN: It may be a tough sell for voters to say that the economy is doing as well as you point out.

O'MALLEY: No, I'm not saying -- I'm saying, look, this is hard. The economy is moving in a better direction than it was, but it needs -- the acceleration needs to happen, and that requires both parties to work together for the common good.

MORAN: You know, Governor O'Malley, you raised something I want to raise with Governor Jindal, and that is something the Democrats are going to talk a lot about. Voters still aren't really sure of who Mitt Romney is, and this week, there were two major articles, Vanity Fair, Associated Press, taking a look at his fortune. And as you pointed out, he had a secret company in Bermuda. Not a lot of Americans have that, 12 offshore tax haven funds in the Cayman Islands and that Swiss bank account.

Let me go to Governor Jindal. Is it fair for voters to consider, Governor, what Mitt Romney does with his money outside the United States?

JINDAL: Terry, a couple -- I'll definitely answer that question. A couple things that I just want to again correct...

MORAN: No, no, no...

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