'This Week' Transcript: Stephanie Cutter and Eric Fehrnstrom

FEHRNSTROM: Well, that's where -- that's where these numbers come from.

(CROSSTALK)

CUTTER: ... 36 out of 50 states when Governor Romney took office, and he was 47th when he left.

WILL: I don't think this election is going to have this retrospective cast of mind. The question is, what is the mood of the country going to be five months from now? And you would like to Congress to do something. If there's anything we know, it is that anything Congress does now will have an effect, if at all, in 2013...

(CROSSTALK)

STEPHANOPOULOS: I think you can also say that it's pretty safe that the Congress isn't going to do all that much between now and November. I wanted to bring another question about Mitt Romney's Solyndra tact, to you, Eric Fehrnstrom, because the governor was very strong on that, but just the day after he gave that speech, the Boston Herald, I think, reported that a solar energy company that Mitt Romney supported as governor of Massachusetts with his own green jobs investments went bankrupt. It was one of several that have come up in the last couple of days, so isn't this exactly the same story?

FEHRNSTROM: Well, that was a loan that was approved by the prior administration. The governor made it clear that his philosophy was that government should not be in the business of venture investing. Actions he took as governor were to limit the state's ability to do that. He vetoed funds that were set aside for that purpose. What the president did with Solyndra simply exposes the hypocrisy of his attacks against Bain Capital and free enterprise, because the president's idea or his concept of free enterprise is government bureaucrats and politicians making investment decisions to reward their political contributors, which is exactly what happened at Solyndra, and it was a $500 million bust to the American taxpayer.

CUTTER: Well, just as Mitt Romney was implementing a program started under a previous administration, the president was doing the same thing. This program was started under the Bush administration. The process for the Solyndra loan was started under the Bush administration, and the loan was given to Solyndra to -- to improve the clean-energy sector.

Now, that loan didn't work out. And it's tragic that it didn't. But that's 1.5 percent of a larger loan portfolio that is actually working. We now have the largest wind farm in the world in this country, first nuclear power plant in 20 years is being created of this country. Because of the investments that we've made in the clean-energy sector, we've created almost 250,000 jobs.

Now, the president -- you know, we're listening to...

WILL: It was supposed to be 5 million.

CUTTER: The president is not willing to cede the clean-energy industry to countries like India and China. If Mitt Romney wants to cede those -- that industry to India and China, then I think the American people deserve to know the real impact that's going to have not only on our competitiveness, but on our stability.

KRUGMAN: Can I just -- these are -- these are -- we're talking as if $1 billion was a lot of money, and in $15 trillion economy is not. Solyndra was a mistake as part of a large program, which has been -- by and large had a pretty good track record. Of course you're going to find a mistake. I think, to be fair, that's probably true in Massachusetts, as well.

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