Late Editon: Jon Kyl Says Bush Doesn't Run The Economy

[media id=6673] From Late Edition Oct. 26, 2008. After discussing whether Jon Kyl was comfortable with McCain trying to separate himself from Bush, t

From Late Edition Oct. 26, 2008. After discussing whether Jon Kyl was comfortable with McCain trying to separate himself from Bush, the conversation between Evan Bayh and Jon Kyl moves here.

Bayh: Well we can all cite our studies but I think the American people understand Wolf that when, the price that John McCain had to pay, and I like John McCain, but the price he had to pay to win his party's nomination was to embrace the Bush policies, back when he was running for the nomination....

Kly: What policies!

Bayh: Back when he was running for the nomination he said he agreed with President Bush on virtually every major issue. That's a direct quote. He voted with him 90% of the time, so (crosstalk). Excuse me that's just a fact. So if you like the way things are. If you think the economy is going well. If you think the policies of President Bush have succeeded you should vote for John McCain. (crosstalk).. we need a change you should support Barack Obama.

Kyl: What policies of the Bush administration created the problem that we're in today? The problem started with the fact that we didn't have enough regulation of Freddie Mac and Fannie Mae. Something Republicans and the Bush administration were pushing for and your Democratic colleagues opposed. That was the beginning of the problem of the housing bubble. George Bush doesn’t run the economy. He didn’t create this problem. His tax rates being lower actually helped for six years to create the second largest economic growth that we’ve had in the history of the country in recent years. So uh...

Bayh: It sounds like you're agreeing that uh, with John McCain when he says that economics and running the economy is not his strong suit. Apparently it wasn't George Bush's strong suit either Jon because according to you the President doesn't have much to do with the economy. So we shouldn't even be talking about taxes and spending and jobs because according to you the chief executive of the country doesn't have much to do with that. We have a different point of view. We think the President should lead on economic policy. You create jobs, foster investment and business expansion. The policies of the last eight years have not done very well.

Kyl: The Bush tax cuts created this growth coming out of a recession. Creating six years of economic growth. Do you want those tax rates which have been responsible for this economic growth and job creation to go back up?

Bayh: Wolf there in lies the fundamental difference. John McCain says he thinks the fundamentals of the economy are sound. That we've made "great progress" these last eight years. My friend Jon Kyl apparently believes that as well. I think we can do better. And I think the American people believe we can do better and that's what Barack Obama stands for.

Blitzer: Alright Sen. Kyl very quickly I'll give you the last word.

Kly: Not by raising taxes. Particularly not in a time of recession. Don't raise taxes on the small businesses because that create 80% of the jobs in the country. Keep taxes where they are.

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