Interview with Barney Frank

The outspoken House representative on his retirement from Congress.
7:42 | 12/04/11

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Transcript for Interview with Barney Frank
Thank parliamentary agrarian. Was recognized. And blatant hypocrisy of violence in the world of the house. The -- Texas mr. Burgess is recognized to yield time for someone who might actually want to debate the bill. And it -- bigoted winding come out of my time. Vintage Barney Frank one of the most outspoken and distinctive members of congress this week. Congressman frank announced this -- his sixteenth will be his not. He's retiring -- to more than fifty years in the House of Representatives. And he joins me now to discuss the Washington that he will leave behind. Thank you join me congressman. Just cost -- -- the Washington you're leaving behind -- the Washington that some people hope we'll get back to work. He'll obviously be in a partisan field a team but so many people -- -- -- also. As a skilled negotiate. Somebody -- actually legislate and get deals done is not going to be possible over the next. That's 81211 months until the election. Well ironically it will be for the next twelve months in general the public that people sometimes forget you know. If you're in England and they have an election. Whoever gets a majority in the house to comment on -- the prime minister on Thursday. We have a very different constitution people seem to forget that the American constitution at any one time we're governed by the people who rented three election. 20062008. For the president 2010. A usually the American people -- very different decision the people voted because it was. A drop off in the electorate the the people who got elected to detonate a very different view from those on the whole from 2010. With a school ordered difference. But is what's happening. Those who elected to dozens and definitely not one of the government if possible -- -- -- felt that debt. Whether -- environment transportation health care. Collective action is more likely to be damaged -- -- not I think that's terribly wrong but did a great conflict. They would be the ones who would say okay we're not gonna anything happens we're gonna say no we're not gonna raise the debt -- we're not gonna do this. In use and in general the people who want to say no the people want to do the veto have a certain leverage because if totally action had gotten on that side. So is that what you will be in this coming year. So I didn't stay in the coming here. -- WC gridlocked you see gridlock in this coming year -- some of the business of the people no doubt. Will will happen would it happen -- not. No but let's have fun stage that unusual -- here. Inertia has now become a -- fraction odd way. If nothing happens if you have congress passes no legislation to think will happen. The bush tax cuts will expire at the end of yet everybody's taxes -- -- Low income middle income and the wealthy secondly the sequestration mogul -- effect and that will be put I think what the book in which for the first time in my memory. Military spending reductions will be greater than the domestic because that way it worked. What that means -- this. Those on the conservative side who control the house. If they continue to say no deal. A much into it and we want and we say fine we -- ready to compromise but when -- just been given you. Then taxes go up and everybody and military spending is cut hard therefore in this unusual circumstance. Where. Bad things from the conservative ship what will happen if nothing happens there will have to be deal with the -- think there will be a deal. And opposition I believe the president articulated it we -- for extending tax cuts for most people but not for the top. One -- 2% where we can make over ten year period hundreds of billions secondly. I think Democrats -- even a bit with the military cut in this sequester. But I think it would be a majority Democrat -- you know what we want some military reduction we don't need to continue to protect Germany against -- What will will compromise so I think you're going to see this year because of of the consequences of inaction and unusual situation where there will be action on both. An amendment to the sequester and to the taxes. All right congressman front and turning to the actual -- general election right now you probably not round table discussing. The ups and downs of the various candidates we -- -- being. Most set me up right now now you did -- an emotional when you said it but he said that knew it would be the best thing to happen to Democrats since Barry Goldwater. So for the postal -- generation what precisely do you mean that. He would be a very weak candidate. He -- booed heavily and a lot of Democrats would win. Races in which. There would be grateful up I think Newt Gingrich is the -- candidate the the split between the extremely conservative. Sector of America which is the Republican presidential primary electorate. And the rest of the country is very clear. And I believe that a man with Newt Gingrich is on Google cookies at -- if he wins the nomination. It will be about Mitt Romney is understandable we've seen as insufficiently conservative but committed -- -- anything if you believe in principled. And that will allow Gingrich to overcome a whole lot but I I I have that I could like look the Republican. Debate. I've been testing the wizard of odds. I mean obviously Mitt Mitt Romney is is the that that the tin Woodman -- without a heart and and Rick Perry if -- -- gap of immediate state Robert Perry. He illustrates the point that -- theory about some people would want not what they don't know. But what they know it isn't true I just heard this -- which he said some brutal state faces a sign of weakness. That is just bizarre be delusional and go any political liberal all think faith is assigned to we -- -- the wizard of odds. When let me ask you I noticed yet on who. I think -- there's nothing there I think he's ginned up this whole big thing but we're people focused on him as opposed that can -- even not Monday. This is a man who served as speaker Richard Armitage that it was twice reprimanded by the out by the -- -- -- reprimanded by 100 that would about the president. Though the public America's there -- this incredible hypocrisy of criticizing Chris Dudley because we weren't doing -- about Freddie Mac when we were in the minority we did do when we in the majority. And he was taking money from them when the Republican majority to make sure that nothing happened I do think he is. An obvious weak candidate. But let me ask about the democratic campaign message in the election -- -- you also said. The problem in politics is this you don't get any credit for disaster averted going to the vote does and -- boy things -- suck but -- it wasn't immediately sought woods that's not a platform on which anyone has ever gotten elected in the history of the world. So what is -- -- -- do you think the Obama campaign is going to get reelected. Whether that is true and that's dilemma we inherited this terrible economy President Obama did. And clearly the actions taken by President Obama by congress when the Democrats control it by the Federal Reserve and very. Well performing institution that's been unfairly demonized figure better than whatever it but you don't -- -- that -- two things first the ball. I I think individual whether or not you continue to. Keep what you cut taxes for -- wealthiest people and instead. -- of security Medicare. Environmental protection. That doesn't work and secondly I think the Republicans have been meeting that would under cultural ad attacking Barack Obama for pulling out of Iraq thing you want to do more and Afghanistan I think the American people now understand that we over committed internationally. That we don't have -- terrorism a threat equipment to international. Nuclear want communism. And I think all right -- done more and more military spending at the expense of domestic spending will be a mistake. -- front thank you very much indeed.

This transcript has been automatically generated and may not be 100% accurate.

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