Economy Recovering or 'in a Hole'

The two veteran senators discuss the presidential race and tensions overseas.
1:57 | 03/11/12

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Transcript for Economy Recovering or 'in a Hole'
Democratic senator Chuck Schumer and Republican Lindsey Graham senators welcome to both the view and senator Graham let me Begin with the economy we -- -- strong jobs numbers come out. On Friday three months in a -- of 200000. Plus job. Creation and that sparked a pretty remarkable concession. From Rick Santorum last night coming off his victory in Kansas he said. The economy may be getting better and the Republicans may lose there edge on that issue. Is he right what does that mean for the general election. And I don't think he's right all this is an anemic recovery after pretty long recession 37 months in a row. Over 8% unemployment for the people United States the longest streak since the Great Depression. Last month in February 229. Billion dollar monthly deficit. The highest deficit in the history of the nation. When you look at the stimulus package two years ago they projected unemployment at six and a half percent. Obama -- said that -- vice frame has been lowered by 2500 dollars have gone up -- -- 200 dollars. And where producing less soul along pulpit they held lands in the anytime in the nation so the economy is not is -- make it best in the policies of the president. Are gonna make it impossible for this -- -- cover so big things haven't happened very well on his watch says senator Schumer and I didn't have the glass half full from senator Graham. Well I think the Republican party's on the defensive. The president was handed an awful situation everyone knows that greatest. Recession since the depression 700000. Jobs lost the year he took office and now it's turning around because of his steadfastness. 200000. Jobs a month gained in the last three months. If that continues they'll be more jobs during this administration -- when it concludes at the end of this. First term. Then when it started. And that's a real accomplishment. In addition. George Democrats are focused like a laser on jobs the economy in the middle class. Republicans realizing that that's not there's strong suit are going off on these other things. Women's issues and women's health and contraception. And as a result we're in a stronger and stronger position. The women's vote. Latest polls show were up by 15%. Because they want us to focus on the economy. There's a little early to follow -- -- -- it let me follow up on that because -- UV this is clearly become -- democratic team. This year and you and several Democrats made a lot of -- with the comments of Rush Limbaugh. Last week. But some Republicans are seeing hypocrisy that I want to show a bit of an ad. This being run by a group called she packets align with therapy and they're saying the Democrats should be asking Bill Maher the comedian to. Turned back -- million dollars he gave to Obama's super pac. Because of his history. Of attacks on women take a look. -- -- -- -- Sarah Palin agreed to do commentary at Fox News which is actually very similar to her day job talking to a baby with Down syndrome. Speaking of -- it's it's not because they have breasts it's because they are blue. Should Democrats give the money back. Well no I mean look the bottom line is that Rush Limbaugh's comments were just nasty and directed. -- particular young woman who had a particular point of view when was expressing herself Bill Maher is a comedian. It's much different Rush Limbaugh has tremendous weight in the Republican Party no one will rebut him. Bill Mars comedian whose -- at 11 o'clock at night but has very little influence on what's happening here so you know again they're sort of they're sort of in a hole and they're always trying to look for excuses you -- -- also underground against women. The and no Americas and a whole. -- two years since the stainless was back here past George they promised a percent unemployment by the summer of 2009. Two years later -- eight point 3% Obama health care was passed on a party line vote. People in the country don't like -- 80% of small businesses by the administration's own numbers of rejected. To have to give out their coverage but when he fourteen. It was supposed to add to surpluses -- problems over ten years. -- ascending to the deficits and the president says I'm for all of the above when it comes to energy. Well let those -- words coming out is now they don't come from this heart let me know Keystone Pipeline no drilling in the golf. At the end of the day. The economy's not doing well because it is. I'll let me follow senator Schumer on that because Saturday you've been taken some heat. For urging President Obama to petition Saudi Arabia to increase production from Newt Gingrich congressman McCarthy. And others they say instead the focus should be as just a senator Graham just suggested an increasing production here -- home. Well we have to do both and that's again once again they don't have any real answers in the short term we know why prices -- -- It's because of -- -- in Iran is threatening to cut off oil production. The saudis have two point eight million barrels of extra production total Iranian production is 2.2 million if the saudis were to promise that they'd replace. Every barrel Iran took off the market with a new barrel on the market price of oil would plummet and I believe the administration's working. Quietly towards that in the long run we have to do many different things and you know. Our colleagues forget oil production is up. It's higher than its -- in eight years we are and producing more natural gas and oil here in America. But at the same time we have to do alternatives are. Republican colleagues for instance -- blocking tax breaks for wind and solar power which is not the whole lancer but part of the answer. We are looking to produce energy here in America in every way and one other thing that's happening conservation having a huge effect. The cafe standards -- mileage standards on cars. Are gonna reduce the amount of imports we have to bring in by one point one million additional barrels right now we only import 45% of our oil needs it was sixty. So we're making progress bring long run we got to do something about the short run to when Saudi -- one answer. An investigation into why the refineries are not at full production -- -- set let me bring that issue of Iran to senator Graham because senator have you -- the congressional resolution saying that US. Must prevent Iran from getting a nuclear weapons capability. Opposing any -- so called containment. Last Sunday President Obama in his speech the American Israel Israel public affairs committee seemed to agree take a look. -- leaders should understand that I do not have a policy of containment I have a policy to prevent Iran from obtaining a nuclear weapon. I have made clear time and again -- in the course of my presidency. I will not hesitate to use force when it is necessary to defend the United States and its interest. Are you and the president now in saying the Republican candidates been quite critical this policy. Why two I'm very glad to hear that from the president senator Schumer and I know there's never resolution. A from the -- this has containment of a nuclear armed Iran. Is unacceptable so yes I was very glad to hear that. President say that we would not have containment the problem is it. During the three years in question. We've talked arrived they keep enriching we've imposed sanctions they keep enriching they have enough. Low grade uranium now -- make one and a half bombs and our engagement with Iran is simply not working and Iranians have to believe that he will use. Force to stop them certainly is rules and a bad spot here but back to energy production -- this started this debate president.

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

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