'This Week' Transcript: Hillary Clinton

George, it's people -- it's students who are in college right now with Pell Grants that will have to face significant cuts. It's -- it's preschoolers in Head Start that may not be able to go to school on the morning after May 4th, if we don't continue with the continuing resolution at 2010 levels.

So I think this is draconian. It's bad for the country. It's bad for the economy. And it slows down economic growth at a time when things are finally moving up.

AMANPOUR: And, Jon, do you think it's going to lead to a shutdown?

KARL: Well, it might. I think there's a real possibility of that. I can tell you this: John Boehner has been telling people privately, his Republican colleagues, that he will not allow a government shutdown. But the question is, will he be able to -- you know, to produce?

Here's the time line, though, is -- is that they just did this. The House and the Senate are gone for the next week. They have four days when they get back to work out some kind of an agreement. And if they don't do it by the end of the four days, we are at a government shutdown.

AMANPOUR: So what's going to happen? What sort of pressure -- are you going to put on the speaker?

SOUTHERLAND: Well, I think -- I think, the Republicans, we have no desire to have a government shutdown. I think that Speaker Boehner has been very, very clear. I think that he wanted to produce a bill that was legitimate. We saw over the last five days -- we saw the first C.R. that went through open rules. We had over 500 amendments. We voted on 70. And it was amazing to see the process, to see Democrats voting with Republicans on amendments. I mean, the will of the floor...

KARL: But are your colleagues going to go along with something that doesn't cut spending?

SOUTHERLAND: It's going have to cut spending.


KARL: See, that's...

SOUTHERLAND: Look, I -- I mean, we're going have to cut spending. I think...

BRAZILE: But the appropriation chair came up with $30 billion in spending cuts. And then the House can -- the ultra-conservatives -- I have no other way of describing you -- you guys decided that you needed $30 billion more.


AMANPOUR: ... the politics of a shutdown, it sunk Newt Gingrich. Would it sink Speaker Boehner?

WILL: It would do anyone any good on either side. But our viewers can do the arithmetic. They can take $60 billion for $3.7 trillion. And if that's draconian, what wouldn't be draconian?

BRAZILE: But, George, we're talking about over the next seven months. We've got -- we've got food safety workers that will be impacted. We have people who will be impacted across the board.

WILL: This budget includes $7,500 bribes for anyone who will buy a Chevrolet Volt.


AMANPOUR: ... will be...

BRAZILE: ... the Metro. We're going to need to get the bicycle out, George.

AMANPOUR: You can carry on your challenges in the green room, where the roundtable will continue.

And we turn next to the Middle East, as people-powered revolutions sweeps the region. I ask Hillary Clinton what it means for the United States. My exclusive interview, when we come back.


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