'This Week' Transcript: Gov. Rick Perry and Stephen Colbert

UNIDENTIFIED MALE: We're almost over here. You know, the rate of job growth in Massachusetts is six times higher for government jobs than private sector jobs. That's the kind of thing that would resonate. But this documentary that the super PAC for Gingrich has been putting out there, I mean, it's unbelievably bad. I mean, it's wrong on the facts. Three of the people featured --


UNIDENTIFIED MALE: (Inaudible) been a problem.

UNIDENTIFIED MALE: Yes, but three of the people in this were -- you know, actually got raises under Bain when, you know, when Romney was there. They didn't lose their jobs until Bain sold it to a teachers' union in Canada. I mean, it's been --

UNIDENTIFIED FEMALE: If that becomes the answer, that will be a powerful answer. But when you just look at that half-hour, not really knowing that much, it's got power.

UNIDENTIFIED MALE: It's got power and they were slow to respond. The Romney people were slow to point out that the thing was riddled with inaccuracies.


UNIDENTIFIED FEMALE: (Inaudible) is that people always talk about these business men like they are some big saviors. And they run for governor all the time. They've run for Senate from time to time and gotten elected.

But by and large, we don't elect them. By the time the election day comes along, enough has been said about their businesses that disturbs people, but even more so, their sort of lack of political ability disturbs people. And so you have to be careful about running as a businessman.

STEPHANOPOULOS: And that does to a big --

UNIDENTIFIED FEMALE: And generally, we don't vote for them.

STEPHANOPOULOS: That leads to a big development. The cover of this week's "Economist." It's got Mitt Romney up there, under the headline "America's Next CEO."

Paul, you weighed in on this this week in "The New York Times", saying America is not a corporation.

KRUGMAN: Yes, it's, you know, even if we had Steve Jobs running instead of -- instead of Mitt Romney, you know, or Gordon Gekko, whoever we're getting here, those are not the same skills that are required. It's not the same -- it's not even intellectually the same thing.

The things that you have to run an economy are very, very different from things you have to do to run a corporation. And, you know, the thing about Romney is his opponents don't have to make a case that he was evil. They just have to cast doubt on his case, which is I know how to run this thing because I ran a successful business.

And, of course, you know -- we have a situation which is macroeconomic problems. And macroeconomic problems are almost exactly the kind of thing we're thinking like a corporate leader, is all wrong.

STEPHANOPOULOS: And, George Will, did Mitt Romney make a mistake in -- and maybe a mistake akin to what the Obama administration did when they promised 8 million jobs -- 8 percent unemployment coming out of the stimulus by saying that he created more than 100,000 jobs at Bain Capital?

WILL: Well, it invites a lot of bookkeeping as to what the net-net is. How many created and how many destroyed. The fact is, capitalism, in some of its aspects, is a lot like surgery, it's necessary. But you don't want to look at it up close because it's unpleasant.

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