'This Week' Transcript: Tax Deal


DOWD: His message -- his message wasn't helpful to get credit.

KRUGMAN: One thing about...


ROBERTS: ... anger was useful.

KRUGMAN: One thing about Obama and the base is he really is the anti-dog whistler. I mean, it's amazing how -- you know, I think George would think that he's given liberals a lot of what they wanted, in spite of all those defeats, but he manages sort of the opposite of Bush. He manages through what he says to convey the message, "I'm not really with you. I don't really respect you." And it's -- and he did that. That was the most self-indulgent press conference.

DOWD: The thing about the base in this (inaudible) for President Bush and Ronald Reagan is, it doesn't matter if you're generally popular. If you're generally popular, the base will be met. If you're generally unpopular, then it matters.

ROBERTS: And, actually, that is also a Bill Clinton...


AMANPOUR: To be concluded in the green room. The roundtable will continue in the green room at abcnews.com/thisweek, where you can also find our fact checks in conjunction with PolitiFact.

AMANPOUR: We've been talking on this roundtable about tax cuts and stimulating growth. In Britain, the government has launched drastic spending cuts, austerity. And this week, people took to the streets in protest that turned violent. Prince Charles and his wife, Camilla, on their way to theater in their 20-foot-long Rolls-Royce limousine got caught in the melee. It shocked the royals, raised questions about security, and brought even more attention to Britain's austerity plan.

Joining me now to discuss the global economy, growth, unemployment is the former British prime minister, Gordon Brown, also former chancellor of the exchequer, what's known here as the treasury secretary.

Thank you for joining us.

BROWN: Good to be here.

AMANPOUR: And you have a new book, "Beyond the Crash," and it's about trying to overcome this crisis that we've had. What does the United States need to do to get this global economy in hand? And can it?

BROWN: The United States is the leading world power. It is the source of the greatest innovation and technological advance the world has ever seen. It still is. It's got miraculous skills in its economy. The question is, can the world economy restore its high level of growth without people working together?

A solution in America is not going to be enough because, one, you can't have financial stability in one country without having it in another, so you need a global approach to financial stability.

Secondly, you need a global approach to trade. America benefits from the rapidly rising consumer markets in Asia, so America's got to become, if you like, the architect of a new trade agreement.

And, thirdly, you don't get growth unless you cooperate across nations now, and so America should put down the America plan for the future, rather like the Marshall Plan in the 1940s, and say, "Look, this is where we've got do -- what we've got to do."

China has got to consume more. Asia has got to consume more. Europe's got to reform its markets. America is prepared to invest in the future, while doing its fiscal consolidation. And that would mean, in my view, that you would have this exit strategy from a crisis based on high growth and high employment and not low growth and what I fear is high unemployment for a decade.

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