'This Week' Transcript: Treasury Secretary Timothy Geithner

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VANDEN HEUVEL: No one's talking about putting all one's faith in government, but government has an important role to play in shared prosperity. Private-public partnerships are terrific. The administration wanted it with the infrastructure bank, which would have put thousands of people to work. But the Republicans are roadblocks in that process.

(CROSSTALK)

BARNES: ... to Katrina's point, all through this -- this first term, what I saw, sitting in the White House, is that one policy initiative after another to try and spur job growth, to try and help the states, on jobs often and frequently occupied by women, was pushed back on by Congress. Efforts around equal pay pushed back on by Congress. About seven, nine Republicans voted for that initiative when the president signed the first piece of legislation he signed when he walked in the door.

(CROSSTALK)

GIGOT: We've had the largest expansion of federal government spending since the -- I mean, enormous that I can remember in this administration. The first two years that had open field, Democratic -- vast Democratic majorities, you got what you wanted. You got a huge expansion of federal government. How is that working out for the economic security of women?

VANDEN HEUVEL: But, Paul...

GIGOT: It hasn't. Real incomes are down.

VANDEN HEUVEL: ... in -- in a recession, you get expansion of government spending. By the way, the best way to reduce the deficit...

(CROSSTALK)

VANDEN HEUVEL: ... is to put people back to work. Two unfunded wars, Bush -- he doesn't want them called that one anymore -- Bush tax cuts, and the inability of Medicare to negotiate on drug prices, no wonder you have this deficit. Responsibility would be putting people back to work, reducing the deficit that way, and a revived, changed tax code that would be built on fairness.

(CROSSTALK)

VANDEN HEUVEL: ... capital gains and dividends at 35 percent to 38 percent to 39 percent, as they were under Clinton and Reagan.

GIGOT: The second incomes of women -- if they're a second earner in the household pay higher tax rates, because they're added on to the husband's income.

(CROSSTALK)

GIGOT: How about a flatter tax that taxes women second incomes less?

ROBERTS: Well, the marriage penalty at the moment is decreased. We'll see what happens.

(CROSSTALK)

STEPHANOPOULOS: Before we leave this issue, I tend to agree with you all that this particular dispute is going to flare up and flame out, but, Melody, I wonder if the president has a -- has a continuing problem with Bill Maher? You know, you saw those comments he made on Friday night. He's given $1 million. He's the biggest single contributor to the super PAC aligned with the president. This has now happened a couple of times. Do you think the president is going to have to cut ties?

BARNES: Well, you know, I listened to those comments, and my grandmother's voice came in my head. I thought about the phrase, "Home training." You know, the language, the sentiment are problematic, and the campaign has -- and the president has said, look, the civility is -- it matters. The way we talk to each other matters. And they're going to have to, as you said, make a decision. I saw David Axelrod in earlier situations when comments have been made by Bill Maher say, I'm not going on your show. I'm backing away. I'm distancing myself. So it's a conversation...

(CROSSTALK)

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