Transcript: Rahm Emanuel and Rep. John Boehner

Second, let me squeeze it from this side, or address the question from this side. You could not report on the challenges of the fights with the special interests if it wasn't for what we've initiated under President Obama. A, taking on the banking industry as it relates to the student loan. We basically said we're going to cut you out, put $94 billion that we subsidize you with, and we're going to give it directly to the students who are trying to go to college.

In the area of healthcare reform and getting costs under control, we said to the insurance industry, we're eliminating your subsidies and only going to pay you what basically 100 percent on the dollar, but not 115 cents on the dollar, and you're going to compete for that money. And that saves the taxpayers about $170 billion...


EMANUEL: George, George, finally, on the oil and industry, we eliminated their taxpayer subsidies and put that money into alternative energy. So every one of the fights that you're engaged over the next six to nine months were ones that we initiated in taking on those special interests.

STEPHANOPOULOS: Well, you had two important ones, healthcare and energy. And when you look at those issues, what the president has done in his first 90 days, achieved a lot of his major initiatives, as you pointed out, but with very little Republican support. Only three Republicans on the stimulus package; none for the president's budget.

To get healthcare, energy, regulatory reform, the president is going to need Republican votes. What adjustments is he willing to make to get them?

EMANUEL: Well, you just said adjustments. The first question was we're compromising too much and now are you saying how are you going to compromise to get those done? We set the goals. The goals are getting healthcare costs under control. The goals are having an energy policy in which America is independent of its tie to foreign oil and having a policy in which America basically has an energy policy that frees itself from exporting $700 billion of wealth to the Mideast. Those are the objectives. Now, he's open to different roads to get there, but what he's not open to is compromising on the...


EMANUEL: ... healthcare costs under control and ridding us of our dependence.

Now, as President Obama said when asked by a congressman at one of the task force on healthcare -- not on healthcare, on fiscal discipline. You know, the Republican congressman said we're being cut out.

EMANUEL: He says, well, you should be included; that's fair, but you have to come constructive.

And when you're the party of no; when you're the party of never; when you're the party of no new ideas, that's not constructive.

So my recommendation is, we'll work with people of all sides' ideology to get things done. And I think you'll see this on Tuesday. The president will sign a landmark legislation for national service.

And the sponsors are President -- Senator Kennedy and Senator Hatch, a Republican.


EMANUEL: And if you go through the process on kids' health care, national service, as well as getting resources necessary for stabilizing the banks, every one of those votes has been bipartisan.

The challenge will be, will the Republicans come to the table with constructive ideas?

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