'This Week' Transcript: GOP Candidate Rick Santorum

SANTORUM: Well, looking back on it, that was the case. But here's the amazing thing, is that Governor Romney supports No Child Left Behind. I looked at No Child Left Behind after it was enacted and saw what happened and saw the expansion of the federal government and the role of education.

And I said, you know, that was -- that's not what I believe in. And Governor Romney still believes in that. Governor Romney defends No Child Left Behind and supports it today. I don't, because it's against the principles I believe in. It's obviously not against the principles that Governor Romney -- I have principles. I have principles that support the basic foundational principles of our country.

Governor Romney is not only wrong on the issue of education with the federal government and the state government having, you know, basically micromanaged it from the top down, but he's also wrong on a whole host of other principles of government involvement in the health care system, government involvement in energy and manufacturing with cap-and-trade and as he proudly proclaimed that he was going to put the first carbon cap in the country.

And when he was governor of Massachusetts or when he proudly passed -- and still defends government-run health care in Massachusetts. I've never been for any of those things. I believe in free people and free markets and capitalism. I didn't defend the Wall Street bailouts. He does. He still today does.

These are the differences and that's the team I'm on, the team that supports free markets, free people and bottom up, not the team that Governor Romney supports, which is big government and the top down.

STEPHANOPOULOS: On that question of bailouts, you also ran an ad in Michigan where you suggested Governor Romney turned his back on the workers of Michigan, of course referring to the auto bailout there. But you also are opposed to the auto bailout. So isn't it disingenuous to charge that Romney is turning his back on Michigan when you have the same position?

SANTORUM: Well, we have the same position on that, but we don't have the same position on bailouts. When I was in southwestern Pennsylvania as a young man, I saw the steel industry just decimated, and no government bailout came for the steel industry. We went through the very tough, difficult time in western Pennsylvania, of seeing most of the mills close there, big companies.

You would have never thought Bethlehem Steel would not be around any more, but it's not. What happened? What happened was that the marketplace worked. And look at southwestern Pennsylvania, Pittsburgh, it's growing, it's prosperous, it's diversified. Steel is still there, it's just different. It's now all over the country and it's in a different way.

I believe from that experience that, you know what, markets actually do work. And I didn't support the Wall Street bailout. I didn't support Detroit. Mitt Romney supported his friends on Wall Street and then turned his back on the people of Detroit. Now I say turned his back because he supports the concept of bailouts. I don't. And that's the difference between the two approaches.

STEPHANOPOULOS: You say he talked about his friends on Wall Street there, but you also said yesterday something I found a little bit odd I hadn't heard before. You said that Mitt Romney sounds like a member of Occupy Wall Street. What did you mean by that?

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