Mitt Romney

" Today we began a new series called right now in -- from time to time we'll bring in the leading lights and best thinkers in the Republican Party. To discuss the future of the GO -- and our first gas qualifies on both counts. Former governor Mitt Romney and governor welcome back to Fox News Sunday pax -- to be with you you're making a major speech tomorrow criticizing President Obama for cutting one point two billion dollars four missile defense from the next pentagon budget. Why is that a mistake."

" Well with what's happening right now in Iran particularly in North Korea. I think every American recognizes that the best tool we have to rein in North Korea and Iran and -- protect the American people. Is to have a very robust missile defense system and the president. Is cutting by 15%. The funding of our Missile Defense Agency he's pulling back on the number of interceptors we're going to have an Alaska. Which is where we desperately need them. At the same time he's cutting back on our. Funding for European missile defense by 80% it is simply the wrong way to go I know that there's some liberals have always been opposed to the fact. But Ronald Reagan was the author of this idea of defending ourselves nuclear attack. But with a rogue nations like North Korea and Iran. Headlong. In they're in their course to have Intercontinental ballistic missiles to -- nuclear warheads America needs to protect itself. But Defense Secretary gates says that his budget still devotes over nine billion dollars to missile defense. And it includes thirty -- interceptors up there in Alaska. For those North Korean missiles which he says is more than enough to protect this country against the north Koreans for years this is the time to be cutting back and missile defense. And so taking from 45 which was the original plan for that -- missile defense in Alaska that the thirty is not the right direction ago particulars North Korea is developing this technology. North Korea is in contempt of the world and the United States and the very day the president. Gives a speech about nuclear nonproliferation North Korea carries and a missile test and that on -- Memorial Day. They carry an underground nuclear -- explosion. They're making it very clear that they're thumbing their nose at the world and with -- rogue nation like that. You have to be very aggressive in defending ourselves -- missile defense and that's why I would be adding to our expenditures. Not cutting back on the budget we have we have a president -- added trillions of dollars to federal spending. We just put almost 800 billion dollars into a stimulus plan. Not one dollar that is going to modernize our military -- it is a it is a of course which I find very difficult to understand you had taken a middle ground -- it be fair to say on the nomination of judge sort of -- or you called -- quote troubling. But unlike some others you have -- opposed -- What do you think of Newt Gingrich and Rush Limbaugh calling -- racist well I disagree with the I think this is a process where you have an individual who's intelligent well educated with an extensive record. She deserves a full and fair hearing and I listen to that prior senators on your show they intend to give -- that. I think in the final analysis will make a decision based upon. Her clarification of some very troubling comments and also for discussion of some cases that are troubling that the -- case the -- case both of those are very troubling. But we'll have a chance to hear what she has to say and will I'm not a senator I don't get to vote in that regard but those that that our senators I hope give. A thorough examination to her for judicial philosophy which. Quite apparently is a philosophy of saying look we're not going to follow the law. -- going to bend the law to do we think and pathetically. Is the right thing to do. And I don't think I'd had a judge who tries to assess which person more deserves the the the the right conclusion as opposed to what does the law to -- the kind of judge America wants. Let's step back -- bigger picture because that's what this whole series is about how do you think President Obama is doing them what do you think the Republican approach should be in dealing with. Well first of I think the Republican approach should be to hold true to the principles that we know -- right for America for a future fundamentally Republicans believe. That individuals and individual freedom are what built America and will build a more prosperous future. And Barack Obama and his team had made it very clear that a very different view. They believe that an all powerful growing government is the right course for America's future is a very dramatic difference between the two so when Barack Obama has a stimulus plan. It includes a lot more money from government. When the Republicans put for our stimulus plan it's that -- the individuals that in charge help small business when they look at health -- the Democrats say look we want. Government take over health care this is not working well Republicans say happily give individuals more authority and responsibility for the health care system so they can have better care under their direction. It's a very stark difference and I think you're going to find philosophically the American people recognize that the bailouts that. Growth of government is the wrong course for America and instead the principles of the Republican Party will keep America stronger with a brighter future not."

" Let's talk about one of the president's big initiatives and an area that you have a lot of personal and even family history and and that of course is the auto business. It looks like General Motors will file for bankruptcy tomorrow with the government putting up a total. But they did the past and what -- gonna do now fifty billion dollars and taking roughly a 70%. Ownership stake. Back in November you wrote an article and which you said. This is before they've been any -- by President Bush no bailouts let's go to a managed bankruptcy looking back. Wouldn't that at a time when we were in the depths of the recession when we were really it right in the midst of what looked like a financial crisis."

" Wouldn't have been disastrous for the economy a bit precisely the right thing to do for the economy. To help General Motors at that point before -- received tens of billions of dollars from the government. Go through a structured process either in quarter out of court. To rid itself of -- success of union contract obligations. Would have been the right course and at that point government -- helped with a warranty guarantees and so forth with veteran and an -- possession financing to get the company back on its feet. We wouldn't close -- business down -- liquidated we instead would have helped restructure at a time when government funding was not going to add billions of dollars to the American taxpayer's burden. It was a right course to take its being taken now too late unfortunately. And as result the government ends up with over 70%. -- GM and the UAW some 70%. -- let me let me talk about going forward. The right thing going forward for General Motors and for our government is to get government out of the direction -- General Motors. President Obama should indicate that immediately. Upon this bankruptcy all of the shares held by government will be distributed to American taxpayers. And therefore that the public will be able to vote just like shareholders and likewise -- the UAW the head of the UAW -- indicate all of our shares are going to our members. Not to the head of the UAW we don't want a president and -- head of the UAW running General Motors the American public -- on that enterprise. So who would run General Motors well the shareholders the shareholders -- and you'll see Americans trade shares buy and sell amongst themselves that probably consolidate. The -- shareholder meetings they can elect their board of directors and the company will be run to create products that Americans want. They can be competitive globally. They can hire and fire the CEO's they want you don't want politicians in Washington saying okay. We want to build this kind of car all that factory over here it's and senators -- those district and you can't close that when he the most high -- factory. You have to open another one over here you don't want politics directing American corporations that. That whole approach which obviously is one that Barack Obama is wedded to. Is the wrong approach for America Americans recognizes. Individuals the free market system is what has built America for the nation we are and that's how we -- to let go forward. But governor for all the doomsayers Chrysler. -- a bailout now it's gone through bankruptcy seems to be speeding. Through bankruptcy court they're -- is basically be bought by fiat and it it looks like be a viable company within. As some period of time our society -- precisely in my view that's why I wrote is I did in November that these companies need to. Go through a process of shedding their excess costs hopefully outside the bankruptcy court but in fact both of them look like -- go into bankruptcy court. Let me underscore one thing Chris that is there's a real sad day. I mean I'm I'm a sign of Detroit my dad was an auto executive you know -- I -- American cars I love American cars. My heart bleeds for the people and in Michigan and Detroit for all those auto workers this is a very very sad circumstance for this country. And it represents. Bad decisions by management. Overreaching by the UAW. It's it's really it's really tragic and lot of respect and and it is not that -- played either in my view by the Bush Administration -- by the Obama administration."

" When you look I want to switch to that to the main subject -- the future of the GOP since if you look at the GOP since 2004. You've lost ground in the west in the southwest. You've lost ground in the mid Atlantic states like Virginia and North Carolina and in your home region north. And New England not a single Republican congressman anymore. Are -- danger of becoming a mostly white mostly southern regional party."

" You know there have been other times when our party it's been written off. And have been times -- the democratic party's been written. And and what typically happens is that the party that gets all the power -- thinking good about themselves and over reaches and the American people say they've gone too far I haven't us. I think we made mistakes and we have the leadership of congress. And I think you're seeing the president and democratic leaders in the house and the Senate making mistakes that will make them far more vulnerable to a correction a midcourse correction. And I think you'll see the Republican Party come charging back a system that in Virginia. Bob McDonnell they're running for governor I think he's going to win Chris Christie New Jersey I think you're going to see the two governors races this year. Both good Republicans because people recognize that this democratic administration is taking -- far too far to the left and America is fundamentally. A center right nation. And if we hold true to our principles and do a better job communicating those principles and holding true to them for acting as we speak. I think the American people will put it back in a position it later -- is -- enough to just say we're gonna hold true to and lot of people to the Reagan. Principles. Don't you have to have new answers for the new problems that people place sure and as as the world changes you have to make sure that those principles replied to -- to the new reality so for instance our health -- challenge today is 47 million people without health insurance. And and we know our principles we believe in markets and individual so we look at that problem and say how. -- we get individuals to have more control over their health care and one way that's been proposed to select people. By their own private insurance plan be able to own it changed as they change jobs they still on that insurance plan it's a Republican free market or to plan. The Democrats have a different plan. It's not working so we're going to have government give folks a government insurance product and that in my view is putting us on a course to become like Canada or Great Britain which have. Far -- health care system."

" Got a couple of minutes left -- want to talk a little bit about Mitt Romney's future not the GOP's future although they may be -- for all. It you say it's far too early to think about running for president but you've got a very active political action committee. You just pointed out your campaigning all over the country in New Jersey and New Jersey Virginia Ohio the this week it's fair to say. That you're keeping your options open. To running again for president."

" Yeah I'm not going to close that door but I'm not gonna walk through it either and and the action that I'm going through right now is trying to help people who I think would make a difference for the country and frankly. Also help some people help me. You know what I ran for office I had a lot of folks come -- and do a lot of work for me and they call and say okay it's your turn to help may have and so I'm going out and and helping some of those and and I I think it's an important thing but I. You'll -- we have plenty of time to decide what the future holds its very -- five months into the president's term we'll see how we doesn't. And and we as a parting I think are are gonna come back stronger more vibrant and more committed to following the principles that have always been at the base of our."

" Article there is one decision that you have to make pretty soon you sold your house and -- how lucky you were to be able to do that in this market you -- your house in Massachusetts. That's right at a -- price was too -- And the question is where you're gonna establish your legal residents and one possibility because you know -- Vacation home there is New Hampshire are you going to establish legal residence in New Hampshire now my residence is still in Massachusetts that that is by my home -- vote. And I'm going to continue to be a Massachusetts resident I can't tell you. How many years that's the case but for the indefinite future any possibility that you by 32 could be running in New Hampshire as the favorites line I don't think so Massachusetts is my home and and I'm not looking forward to any particular race. But but my residents continues to be Massachusetts and and will be governor Romney want to thank you so much for coming in and kicking off this new series and sir please come back thanks Chris -- to be with you."