'This Week' Transcript: Pelosi and Gates

WILL: Well, Rangel is much more important, because he's chairman of an important committee. And in fact, Rangel's misfortune is a national misfortune, because we desperately need -- and after the deficit commission reports in December, we might have had -- serious tax reform in this country. That requires a cooperative member leading that committee in the House.


KRUGMAN: Nothing's -- nothing's going to happen.


KRUGMAN: If there's actually anything to come out of the deficit commission, it would matter, but it's not.

WILL: ... as Rostenkowski was with Ronald Reagan's tax reform. Now, Rangel has a weak position, but a very -- a weak case, but a strong position. His strong position is the president and everyone wants this thing over with so the Democrats won't be tarred with this, and therefore he can hold out for some minor reprimand -- indeed, a reprimand, technically -- just to liquidate this and get out of here.

KRUGMAN: In a way, he's sort of the Hamid Karzai of the U.S. Congress.

AMANPOUR: Well, I was going to -- we only have 15 seconds left, but I was going to ask Ahmed Rashid what they make of all of this, given so much corruption charges over there. Ahmed, we're out of time, but thank you all so much for joining us.

And the roundtable continues in the green room on abcnews.com, where later you can also find our fact checks. We've teamed up with PolitiFact to check the show. You can also follow me on Facebook and Twitter.

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