This is a rush transcript from "Your World With Neil Cavuto," June 30, 2010. This copy may not be in its final form and may be updated.
STUART VARNEY, GUEST HOST: Harry’s trailing and now he’s attacking. Republican Sharron Angle trying to take Harry Reid’s Senate seat in Nevada. Angle wants to cut entitlement spending. So, Senator Harry Reid cuts this ad as he tries to cut into her lead at the polls.
(BEGIN VIDEO CLIP, HARRY REID CAMPAIGN AD)
NARRATOR: You have heard Sharron Angle wants to wipe out Social Security. Now she says it’s like welfare.
SHARRON ANGLE R-NEV. SENATORIAL CANDIDATE: My grandfather wouldn’t even take his Social Security check because he said he was not up for welfare.
(END VIDEO CLIP)
VARNEY: All right, reaction now from Nevada GOP Senate candidate Sharron Angle.
We invited Harry Reid onto the show. His office declined.
Ms. Angle, welcome to the program.
ANGLE: Thank you so much, Stuart. It’s great to be on to discuss the defeat of ‘let’s make a deal’ Harry Reid.
Now, he’s painted you, that — just that little seven or eight-second bite that we ran there, he’s painted you as an extremist, particularly on Social Security. Respond to that, would you?
ANGLE: Well, this whole attack on Social Security is about him, really.
He’s the one that’s been attacking Social Security, raiding and pillaging for the last 24 years. And, of course, we don’t have any money left in that lockbox right now. We need to concentrate on getting money back in there for our senior citizens, but, going forward, doing something to personalize our retirement accounts, so that they can’t come in and raid and pillage some more.
VARNEY: Well, I think you have come under heavy criticism because you have suggested that the entitlement programs across the board have spoiled the citizenry. I think that’s the expression that you used. You want to expound on that a little bit?
ANGLE: Well, I said spoiled the citizenry because what has happened is, we have allowed people to get an idea that if — they are better off if they don’t go back to work.
What we really need to have them do is take those jobs that are entry- level jobs, build up their seniority, but, in the same vein, have some kind of safety net, rather than just saying you either get unemployment or you don’t, and then they have to make the choice, because the unemployment actually pays more than the job that they can get.
VARNEY: We have got to make some very, very tough choices and we have got to make those choices very, very quickly. Now, Senator Reid, he’s led — if I may say so, I think he’s led the spending charge. He’s been right out front there, spend, spend, spend.
Are you exactly on the other side of the fence, saying cut, cut, cut, get control of spending, get it under control? Are you diametrically opposed to Senator Reid?
ANGLE: I would say that’s a pretty good characterization.
And the reason is because we know that government doesn’t make jobs. All that Harry Reid has done is extended unemployment, which doesn’t make jobs. And what we really need to do is make sure that we give some confidence to the sector that does make jobs, that business sector. They need to know that, as we cut the spending, they can take some risks here.
But as long as we’re just taxing and spending, they can’t take the risks they need to do to be able to create those jobs that we need.
VARNEY: But it’s a tough and harsh message, especially in Nevada. I believe the unemployment rate there in that state, your state, is now 14 percent, highest in the nation, higher than Michigan, and you’ve got probably the worst housing situation in the nation.
You’re delivering a very tough message, which can interpreted as a very marsh message. I think that’s an uphill struggle for you.
ANGLE: Well, I think what people really want is the truth and they want someone they can trust. And, obviously, Harry Reid is not that person, when he tells us that our income tax is voluntary, when he tells us that it’s not so bad.
Fourteen percent unemployment is terrifically hard on Nevada, as you pointed out. And we have the highest mortgage foreclosure rate. We also have the highest bankruptcy rate. So, really, what people want is the truth. And the truth is that we have to pay back on the deficit and cut back on the spending if we want to revive our economy.
VARNEY: As I said before, there’s tough choices to be made here. Congressman John Boehner just yesterday, I think it was suggested, look, we have got to raise the retirement age on Social Security, got to raise it to 70.
And I believe that Steny Hoyer said virtually the same thing a couple of months ago. Where do you stand on that kind of thing? Because that’s another very tough choice, to tell seniors — they’re in their 40s now, but you tell them, you have got to wait until 70 to get Social Security. Are you prepared to say that?
ANGLE: What I’m prepared to say is, we need to put money back into that lockbox that should have been locked, rather that raided and pillaged.
And we can do that by cutting back on the spending and paying back on the deficit. And we do have some money that is left over from the stimulus, from the TARP money coming in, and some unspent appropriations, I think about $1.1 trillion, that we could put back into that lockbox that we have put IOUs in for about $2.5 trillion.
If we would do that, that would stabilize Social Security and give the seniors the confidence that they need that, going forward, they put the money in, and it’s still there for their retirement.
But we need to make sure that those younger employees that you were talking about have a retirement account that is secured away from government pillaging, which Harry read has. He has of course Social Security, but he also has retirement which is a private, personalized federal plan that says the government can’t get in there and take away his retirement.
VARNEY: Ms. Angle, I have just one last question. I want to try and position you on the political spectrum, if I may try to do that.
Would you say that you’re a Reagan Republican, Reagan conservative? Are you a Tea Party type person? Are you a free market economist? Are you a libertarian? Pick one of the above. Which are you closest to, if I may ask?
ANGLE: I would say that I’m all of the above. I have a volunteer that calls me Ronald Reagan in heels.
VARNEY: That is the last word, Ms. Angle. I’m not going near it.
Ms. Sharron Angle, Republican candidate for the Senate seat in Nevada, thanks for joining us, ma’am. We appreciate it. Thank you.