'This Week' Transcript: Holder and Giuliani

WRIGHT: Well, I think that, as we find more and more of these operatives are working inside the United States and they're not coming from the outside, that we have some real questions to answer. And you see also what Senator Lieberman has introduced this week about stripping people of their citizenship. There's a lot of confusion about, what do we do? How do we handle them? Who qualifies as an American? If you engage in terrorism, do you -- is their citizenship then liable?

And there are some real constitutional questions about all of these issues. How far do we want to go in stripping the rights of the document that -- that makes us a great nation? And there are problems with -- for example, in the Lieberman bill, at what point do you say that anyone who votes, anyone who serves in another country, anyone who serves in a foreign army is eligible to have their citizenship stripped...

TAPPER: Right, that already is on the books. Those laws are already on the books.

WRIGHT: Right. But the fact is, it's not -- it's not applied. There are lots of Americans who have served in the Israeli army. In an era of globalization, you see lots of nationalities where people vote in American elections and they vote in the country from which they came. And so that becomes -- it really opens up a Pandora's box if we -- if we engage in actions like that.

TAPPER: I want to switch to another topic now, and that is, in addition to today being Mother's Day -- and happy Mother's Day, by the way -- today's also Europe Day, and Europe is going through quite some problems right now when it comes to the Greek debt crisis.

George, you've wanted to talk about this for a long time, and I've resisted, and I apologize for that, but why is it, do you think, that we don't hear much from policymakers, from the media about the Greek debt crisis? Or, you know what? Forget that question. Why should the American people care about this?

WILL: Because it's an early heart attack that ought to alert us to the fact that we could have a bigger heart attack. Greece is not too big to fail. It has a GDP the size of a Dallas-Fort Worth metroplex. It's too connected.

What we are doing, and the Europeans are doing, and Americans are doing through the International Monetary Fund, is we're bailing out the banks that have -- particularly the French and German banks -- that have bought a lot of Greek paper.

Now, the fact is, the United Kingdom has a worse fiscal picture. Los Angeles has a worse fiscal picture.

STEELE: California has a worse...

WILL: California in general, New Jersey, Illinois.

TAPPER: Worse than Greece?

WILL: Yes, in some senses. What we're doing at this point is we're seeing the collapse of a model, a welfare state model, that says you can constantly enlarge government on a narrower and narrower tax base, producing more and more people dependent on the government.

What they said in Greece, the caption under the pictures, it said, "Anti-government mobs." They're composed of government employees, these anti-government mobs, fighting for their entitlements.

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