'This Week' Transcript: House Speaker John Boehner and House Democratic Leader Nancy Pelosi

And, George, let me go to you, because we saw this week that the Obama campaign and the Democrats began this all-out assault on Bain Capital, Romney's tenure there. Joe Biden gave a blistering speech. We saw the ads, and they believe this is the best way to turn Romney's business experience into a negative. He calls it character assassination. I guess my question is, will it work better in the general than it did in the primaries? We saw Newt Gingrich try it.

WILL: I don't think so, first of all, because the people making this argument, who presided over an absolute wonder, which is we have 365,000 fewer jobs today than we had when the recovery started in June 2009. Think of that. A recovery that subtracts from -- from the total jobs in the country.

They're focusing in this one ad on a steel mill at a time in the '90s when in one year the American steel industry, the six largest firms lost $3 billion. The industry had already shed 200,000 jobs as a result of a steel glut in the world. Bain comes in -- now, the accusation in the ad is Bain came in as vultures to suck the wealth out and go away. Bain invested $100 million in this. That's a funny way of sucking wealth out of it.

BRAZILE: Well, they buy up companies, George, they sell the assets, lay off the workers, and then leave town. There's more to this Bain thing than just one company and one industry. I think it's a large story. And since Mitt Romney won't talk about exactly how he will create jobs, he gives us a number and it changes with the weather.

Look, this is a continuation of where both Rick Perry, as well as Newt Gingrich, they -- they had these attacks, and then the Republicans say, no, no, no, you're attacking free enterprise. This was a way of doing business.

And I think the Obama campaign is right to use it. Ted Kennedy used it effectively in 1994. And it's going to be used again and again until Mitt Romney can explain exactly what he was doing at that time.

STEPHANOPOULOS: Is it enough, Laura, for him -- for Mitt Romney to point it back to the overall economy, as George Will just did right there? Because he has gotten into a little bit of trouble talking about how many jobs were created. He says 100,000 jobs were created, but he counts all the jobs that followed him, but none of the job losses.

INGRAHAM: No, I never thought that was the best way to go with Bain, because, look, say I created -- you open yourself up for some criticism. But I do think it's right for him to say, look, my record, my record, examine my record, absolutely. But, Mr. President, you know, you did meet two weeks ago with the head of the Blackstone Group in New York, big donors in private equity throughout the United States in Obama's camp. And I don't recall -- I looked back in the '90s, and -- to look to see if Obama had given any speeches in the state legislature or otherwise against private equity firms. I've never seen anything written by him -- I might have missed it, but in my research, I haven't found any great proclamations about the concern about how private equity was, I guess, vampiring all over the United States. This is clearly a campaign tactic.

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