'This Week' Transcript: Gov. Chris Christie and David Plouffe

CHRISTIE: Be truthful. I mean, listen, all he's got to do is go out there and tell the truth, because if you tell the truth about what's going on in our country, people are going to understand that that's critical of the president's stewardship, but also to lay out a positive and hopeful vision for what the future can be for our children and grandchildren under a Romney administration.

I think he can do both. Listen, Mitt Romney can walk and chew gum at the same time. I'm not worried.

STEPHANOPOULOS: How do you handicap President Obama as a debater?

CHRISTIE: He's -- he's good. Listen -- and I love all this stuff. I heard Ed Rendell the other day say, oh, he hasn't debated in four years. Poor President Obama. He's only been leader of the free world and commander-in-chief of our military during that time. I think he's had a few debates inside the White House over time. And I think he'll be very good. The president's always been good, and he'll be good on Wednesday night, but he can't change the facts, and that's going to be the problem for the president.

STEPHANOPOULOS: He's been making the closing arguments in the battleground states, two-minute ads straight to camera. Here's a portion of them.

(BEGIN VIDEO CLIP)

OBAMA: Governor Romney believes that with even bigger tax cuts for the wealthy and fewer regulations on Wall Street, all of us will prosper. In other words, he'd double-down on the same trickle-down policies that led to the crisis in the first place.

(END VIDEO CLIP)

STEPHANOPOULOS: If you were on the stage Wednesday, how would you respond to that?

CHRISTIE: Stop lying, Mr. President.

STEPHANOPOULOS: Lying?

CHRISTIE: Yeah. That's what I'd say.

STEPHANOPOULOS: What's the lie there?

CHRISTIE: That he -- Governor Romney is not talking about more tax cuts for the wealthy. In fact, what he said is that the wealthy will pay just as much under a Romney administration as they pay today.

STEPHANOPOULOS: But their tax rate will go down into the 20s.

CHRISTIE: Right. But their tax rate will go down, but they will lose deductions and other loopholes that will have them paying the same. That's what Governor Romney's plan is.

And so what I'd say -- you know, I love those ads. I mean, you know, the president gets to say things like a million new manufacturing jobs, well, how, Mr. President? We're still waiting. Four trillion reduction in the debt. Really, Mr. President? How? Simpson-Bowles? You haven't endorsed your own plan. Nor has he come forward with a plan.

I mean, it's a great ad. I have no doubt about that. It sounds really nice, and it looks nice. But there's nothing substantive there.

STEPHANOPOULOS: But I -- I can imagine the comeback from President Obama at that point, when you say where are the details, that same question could be put to Governor Romney. You've called for hard truths in the convention, but Governor Romney has not been willing to lay out which deductions are going to go away for the wealthy.

CHRISTIE: Well, listen, the president of the United States has an obligation after four years as being president to be the one who is the most specific.

STEPHANOPOULOS: So the challenger doesn't have to?

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