Trump: Debt commission should be discussed in 2012 debates

The Donald speaks out on deficit reduction, GOP convention

This is a rush transcript from "Your World," August 15, 2012. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST OF "YOUR WORLD": Welcome, everybody. I'm Neil Cavuto.

And forget the nation's debt fast spiraling toward $16 trillion. When it comes to the president's own debt commission, now a group of Democrats wants it completely off the table off the presidential debates, not a word about it. They say forcing candidates to choose solutions from one menu of options would cheapen the debate, their words.

So the debt be damned? We called them those Democrats, no luck there. But hope always springs eternal. But, fortunately, we did call Donald Trump and he's sticking on the line with us, what he makes of all of this right now.

Donald, good to have you.

DONALD TRUMP, CHAIRMAN & CEO, TRUMP HOTELS & CASINO RESORTS: Hi.

CAVUTO: What do you make of this?

TRUMP: Well, I think it was commissioned by Obama.

It was a very, very strong report, and he wants no part of it. He wants to really just pretend it never happened. And the Democrats want to pretend it never happened also. And they should be somewhat ashamed of themselves. And it should certainly be a question for debate. There's no question about that.

CAVUTO: What would you think, Donald, if the debate organizers said, all right, we will keep the debt commission off at least that first debate discussion?

TRUMP: Well, I would be surprised.

I don't think anything should be left off the table. This is a vicious campaign. Obama is being unbelievably vicious and his people. And the kind of things they're saying, I just don't think anything should be left off the table. And I think that Mitt and the Republicans will be and have to be very, very tough, very strong.

CAVUTO: I'm just wondering what could be the logic in this position.

I guess the debt commission, as you know, came out with a lot of proposals, some a lot of Republicans like, some a lot of Democrats like. But if you -- if it was like sort of a laundry list of things, and it was - - you had to discuss them in the form of debate, it would take time or it would get picayune. But even that to me seems nonsensical, because the debt commission came up with a lot of great ideas.

So, what do you make of just not wanting to even pretend it exists?

TRUMP: Well, I think the debt commission is something that, whether you like it or not, it's here.

It was Obama's concept. It was his idea, and it's amazing how he ran from it. And, basically, the Democrats don't want to be forced into a position of having to lie. And I know some of the Democrats you're talking about. And they're some beauties. But they don't want to be forced into a position of having to lie, and that's what they do, because if this were brought up in the debate, they would be lying like hell.

CAVUTO: All right, and one of them is New York's Jerry Nadler. You're not saying he's one of the liars, is he?

TRUMP: Well, Jerry's a guy who is a lightweight. He's not respected. He's not somebody that is a big thinker.

I have known him for many, many years. And Jerry Nadler is truly the kind of guy that gets us in trouble. And so frankly when you look at him and you look at what his suggestion is, that we shouldn't put this on the table, it was his boss, it was Obama that brought it up in the first place. So, that's the way it goes.

CAVUTO: You know, Don, while I have you, you're not speaking at the convention. It was by your own choice, I'm told.

(CROSSTALK)

TRUMP: I was asked to speak.

CAVUTO: OK.

TRUMP: And I'm doing something else.

CAVUTO: What is that something else?

TRUMP: I can't tell you that, but it will be quite exciting and hopefully quite amazing.

CAVUTO: Why can't you tell me? But wait a minute. Is it going to be something you are going to say?

TRUMP: It will be amazing.

CAVUTO: Is it a speech?

TRUMP: But I can't tell you. You will be one of the first to know, if not the first.

CAVUTO: Ah, see, you're fudging again.

So is it going to be a speech, inside, outside?

(CROSSTALK)

TRUMP: I don't want to say. It will be something I think that's going to be really quite interesting and perhaps amazing.

CAVUTO: Are you going to say anything damaging about the Republican ticket?

TRUMP: Well, certainly not about the Republican ticket.

CAVUTO: OK.

TRUMP: I'm a big fan of the Republican ticket.

CAVUTO: So, you're not going to announce outside the convention hall your support for Barack Obama? I can take that as a given?

TRUMP: Well, I will tell you I'm not supporting Obama. That, you know. I think that would be a major story if I announced I was.

(LAUGHTER)

CAVUTO: All right. I am trying to think of what it could be.

(CROSSTALK)

TRUMP: I'm a big fan of Mitt.

CAVUTO: Then what could it be? If you'e not speaking in the hall, what will you say?

TRUMP: Well, you know what? They really wanted me to speak, and they also wanted me to do this.

And I think, I think the one would be appropriate. And I think it's bigger than anything else I could think of. And I agreed to do it. And you'll see in those opening moments.

CAVUTO: In the opening moments. You're covering the costs for all of them?

TRUMP: Well, I just think it's going to be something that's going to be quite exciting and quite good and very truthful, unlike what a lot of the stories you are hearing from the Democrats are, I mean, I think very, very truthful.

CAVUTO: I'm worried.

The one thing that worried me in this exchange, Donald, is that you said I will be one of the first to know. I have been reduced to one of the first to know.

TRUMP: No, well, I will have to change that around.

CAVUTO: Yes.

TRUMP: If you feel it's important, I would certainly change that around.

CAVUTO: Anything you do is.

TRUMP: As you know, you're one of my favorites. And we have had a good relationship for a long time.

CAVUTO: Indeed. All right.

Well, I'm watching closely, and I look forward to hearing it first here with me or on Fox Business, which, if you don't get, Donald, you should demand.

As always, thank you very much.

TRUMP: Well, thank you very much, Neil.

CAVUTO: Donald Trump. All right.

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