On 'This Week': Stephanie Cutter and Kevin Madden

NEW YORK, August 17, 2012— -- Obama deputy campaign manager Stephanie Cutter and Romney campaign senior adviser Kevin Madden face off on the latest battles in the 2012 presidential campaign, Sunday on "This Week."

Mitt Romney and his new running mate Rep. Paul Ryan hit the campaign trail this week, looking to gain momentum with just over one week before the Republican convention in Tampa. Has Ryan's selection energized the ticket and galvanized conservative supporters for the fall? Or will continued scrutiny of Ryan's Medicare proposals and Romney's tax returns hurt their campaign for undecided voters?

Can President Obama fend off charges over cuts to Medicare in his own budget plans? Will Vice President Joe Biden's verbal missteps become a distraction? And with negative attacks at an all-time high, can civility return to the campaign trail?

Stephanie Cutter and Kevin Madden speak with ABC News senior White House correspondent Jake Tapper on the 2012 election, only on "This Week" Sunday.

Plus, our special "This Week" panel, in partnership with the University of Virginia's Miller Center, tackles the critical question "Is the U.S. Headed Toward Bankruptcy?"

With the United States nearly $16 trillion in debt, a major "fiscal cliff" looms at the end of the year as a combination of expiring tax cuts and mandatory across-the-board spending cuts threaten to derail any hopes of economic recovery. And as millions of baby boomers edge closer to retirement, the nation's long-term budget picture looks even more bleak. Now with Romney's selection of Ryan as his running mate, competing visions on how to handle the country's pressing fiscal challenges will likely take center stage in the 2012 presidential contest.

Will Republicans and Democrats continue to face off over opposing views on taxes, or can any compromise be reached for fundamental reform of the tax code? Can Congress and the White House work together toward changes to Medicare and Social Security to put the country on sounder financial footing? Or will the U.S. head in the direction of Europe's most troubled economies, with long-term debt and deficits paralyzing any chance of economic recovery?

Jake Tapper moderates the discussion, held before a live studio audience at the Newseum in Washington, D.C., with Senate Budget Committee member Sen. Pat Toomey, R-Pa.; House Budget Committee ranking member Rep. Chris Van Hollen, D-Md.; former TARP Special Inspector General Neil Barofsky; former Obama economic adviser Austan Goolsbee; Americans for Tax Reform president Grover Norquist; and Wall Street Journal columnist Kimberley Strassel.

For more information, visit the "This Week" website and the Miller Center website.