'This Week' Transcript: Stephanie Cutter and Eric Fehrnstrom

BRAZILE: Because Planned Parenthood proves a broad range of reproductive health services for women, life-saving medicine, mammograms. This is about, of course, testing for diabetes and so many other important programs. That's why the attacks on Planned Parenthood has alarmed so many women in this country.

STEPHANOPOULOS: Each man is also running to be commander-in-chief. President Obama, of course, already is commander-in-chief. And, Stephanie, you saw that -- a clip we played right before we went to commercial, Governor Romney the other day giving President Obama an F on everything, including foreign policy. Your response?

CUTTER: Well, I think that it's what Colin Powell said of Mitt Romney's foreign policy. You know, Mitt, think. Get real. And I think, you know, Mitt Romney saying that Barack Obama gets an F is one of the most ridiculous things that he has said in this race.

Let's just go over the president's record, ended the war in Iraq in a responsible way. We're on track to end the war in Afghanistan. We crippled Al Qaida and brought bin Laden to justice. You know, he led to topple Gadhafi and protect the people of Libya. You know, that's just a sample of what he's done.

Now, Mitt Romney calls Russia our greatest geopolitical foe. You know, that's what you were saying before, about going backwards instead of forwards, that he would go back to the '50s to talk about Russia as our worst geopolitical foe.

And on -- you know, of the bluster that we hear from Governor Romney, whether it's criticizing our Iraq policy and promising that he would leave troops on the ground in Iraq, with no promise of ending the war, or the number of different proposals he put out on Afghanistan, again, with no promise to end the war, or, you know, stating that he wouldn't move having the nerve (ph) to get bin Laden.

I think that the governor is picking the wrong fight in this election if he's going to take on Barack Obama on foreign policy.


FEHRNSTROM: Look, the killing of bin Laden was a great achievement for America. Governor Romney credited the president for that. He also gave credit to the intelligence agencies that were involved in searching him out and, of course, to the members of the military, he carried out that mission.

But the measure of America's foreign policy is, how strong is our influence in the world? And our influence is dependent on two things: our economic strength and on our military strength.

Now, we know how weak this economy is. We've added unprecedented levels of new debt. And in terms of the military, we are on a path under this president to cut $1 trillion over the next 10 years. It is a combination of this weak economy and a hollowed-out military...


FEHRNSTROM: ... that is emboldening our adversaries and weakening our influence around the world.

STEPHANOPOULOS: Don't you -- don't you need -- doesn't defense have to be a part of reducing the debt?

FEHRNSTROM: One trillion dollars over the next 10 years, that's level of reduction that the secretary of defense called devastating. That needs to be changed. But this president hasn't taken any action at all to stop this sequestration process from happening.

STEPHANOPOULOS: Where does this debate go?

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