• With: Mitt Romney and Paul Ryan

    This is a rush transcript from "Hannity," October 1, 2012. This copy may not be in its final form and may be updated.

    SEAN HANNITY, HOST: The consensus is in. Governor Mitt Romney was the decisive winner in last night's presidential debate. Now, in a moment, I will be joined for an exclusive interview by both Governor Romney and his running-mate Congressman Paul Ryan.

    But first, although, even the most left-wing political observers and pundits have conceded that their candidate bombed without his teleprompter last night, Obama aides are trying to peg all of their candidate's stumbling and bumbling on Mitt Romney. Believe it or not, yes, they are accusing the governor of lying. Of course, they are the ones that are. Watch this.

    (BEGIN VIDEO CLIP, "MORNING JOE"/MSNBC)

    DAVID AXELROD, OBAMA SENIOR CAMPAIGN ADVISER: Again and again and again, he told the story to the American people that is completely in contrast with what he said before and unfounded in fact. And that's going to catch up with him. I think that I give him credit for strong performance. I give him an "F" for being honest with the American people.

    (END VIDEO CLIP)

    HANNITY: All right. Here's the sad truth. For 90 minutes, it was President Obama who lied about his record, it was President Obama who lied about what he would do in a second term. You want proof? Here it is.

    (BEGIN VIDEO CLIP, POLITICAL AD)

    PRESIDENT BARACK OBAMA, OCT. 4: If you want to be president, you owe the American people the truth. The truth.

    GRAPHIC: President Obama vs. the truth.

    UNIDENTIFIED MAN: Now, with a fact check of the debate.

    UNIDENTIFIED WOMAN: This claim is based on a fiscal fiction.

    ANDREA MITCHELL, NBC NEWS: The bipartisan nonprofit Committee for Responsible Federal Budget has called that a gimmick. And the president is also counting on savings agreed to last year when the White House and Congress agreed to raise the debt ceiling.

    OBAMA: Governor Romney's central economic plan calls for a $5 trillion tax cut.

    UNIDENTIFIED MAN: I rate that mostly fiction. Mostly fiction.

    MITCHELL: Tonight, President Obama said that his plan would cut the deficit by $4 trillion. That estimate comes from a left-leaning Center on Budget and Policy Priorities.

    OBAMA: Social Security is structurally sound. It's going to have to be tweaked

    MITCHELL: But according to the Congressional Budget Office, Social Security will run into financial trouble by 2030. The amount Social Security pays out will exceed the tax revenue coming in.

    UNIDENTIFIED MAN: President Obama accused Mitt Romney of proposing a $5 trillion tax cut into adding to the deficit. But the nonpartisan web site Factcheck.org says that is not true. Another questionable statement, Obama again said, he would raise taxes on upper income people only to the rates they were when Bill Clinton was president. But actually, many high-income people would pay more than they did then.

    UNIDENTIFIED MAN: That's not true.

    UNIDENTIFIED MAN: Mostly fiction.

    UNIDENTIFIED MAN: Another questionable statement --

    GRAPHIC: Obama' can't lead. So instead he misleads. America deserves better.

    OBAMA: If you want to be president, you owe the American people the truth.

    (END VIDEO CLIP)

    HANNITY: And joining me now for an exclusive interview, the very first since last night's showdown, our Republican presidential candidate, Governor Mitt Romney and his running-mate Congressman Paul Ryan. By the way, Congressman Ryan, I know you have to leave in a couple of minutes. So, you won't be here the entire time.

    All right. Governor, you went into last night's debate. There were a couple of polls out, they said that Barack Obama was a two to one favorite, clearly a good night for you. What's your take?

    MITT ROMNEY, GOP PRESIDENTIAL NOMINEE: Well, I was pleased that I had the chance to talk about my vision for America. The president was able to answer some questions that I posed that I think Americans across the country have wanted to have answered. And it was an evening of substance. I am happy that Jim Lehrer was willing to ask us our positions on issues and we could describe those. It was not a big gotcha night coming from the moderator, but instead, a chance for the president and I to go toe to toe on important issues people care about.

    So, I thought it was a helpful night. I think in the final analysis, people will decide what kind of America they want.

    HANNITY: Congressman Ryan, you are up next. There have been a lot of controversial statement, I'll show the tape in a little bit, but to save a little bit of time, in recent weeks, Joe Biden has said that the middle class, the last four years has been buried. And today, he went out there and said he's going to raise taxes, yes, we plan to raise taxes over $1 trillion. Your reaction?

    PAUL RYAN, GOP VICE PRESIDENTIAL NOMINEE: He was half right. It's about $2 trillion. But, you know, every now and then, Joe is little candid. He drops the veil and he speaks with candor. And yes, the middle class has been buried over the last four years. He was right when he said that. Yes, they are proposing a massive tax increase. And two years ago, when they said they were going to prevent this tax increase because of a bad economy, the economy is growing slower today than it was then when they said that.

    So, they don't have a record to run on. This is why they're running the kind of campaign they're running. What I am excited, Sean, is last night, the American people got to see the guy I know -- a decisive, optimistic, confident leader. A person with a plan to create jobs and grow the economy. That's what the country saw. So they now know they have a very clear choice. Growth, opportunity or stagnation and dependency. The president is basically saying, four more years of the same. And Mitt gave them a better choice.

    HANNITY: Congressman, because I know you have to go and you are going to be introducing Governor Romney at an event soon, I will ask you one last question if I can. Because you have -- you are best known as being a numbers guy. Governor Romney, your running-mate is running for president, last night, pointed out the state of our economy, one in six Americans are in poverty, 25 million un and under-employed, 17 million more Americans on the last four years on food stamps, that's 49 million Americans. Governor, I didn't know the statistics you brought up last night, but apparently 50 percent of college students are having a hard time getting that first job. And we've got $6 trillion in new Obama debt in four years.

    You told me once, Congressman, that we have got maybe two or three years before an economic calamity. Explain what you mean?

    RYAN: Yes. That's what the experts have been coming to the budget committee for years saying which is, if we keep staying on this path, we will have a debt crisis much like what is engulfing Europe. We have to get off this path. Mitt Romney's proposed a plan to get us off this path. President Obama is doubling down on this same direction.

    So, that's the point we're making, Sean. We can't keep spending money we don't have. We will have a debt crisis, much like that in Europe. And they say, we don't have that much time. So, we have a window of opportunity. The next president will decide how this is determined. This man has put a plan out there to prevent that from happening to get the economy growing, we prevent a debt crisis and we save those people who depend on these programs so much that they have been promised for them. That is what we're going to do, and the country last night saw the choice get have to make.

    HANNITY: All right. One last question while the two of you together. Governor Romney, you brought up last night the $716 billion that was taken out of Medicare to help fund ObamaCare. When you were on "60 Minutes," you pointed out that you had a slight disagreement. Do you guys want to debate that while I have the opportunity of the two of you together?

    ROMNEY: Well, probably not. My guess is we'll be debating with the other guys.

    HANNITY: Yes.