VP debate excerpts – Vice President Joe Biden on jobs

Edited by Jenny Jiang

Excerpts from Vice President Joe Biden’s remarks on unemployment at the vice presidential debate on Oct. 11, 2012:

MARTHA RADDATZ: Gentlemen, I want to bring the conversation to a different kind of national security issue, the state of our economy. The number-one issue here at home is jobs. The percentage of unemployed just fell below 8 percent for the first time in 43 months. The Obama administration had projected that it would fall below 6 percent now after the addition of close to a trillion dollars in stimulus money.

So will both of you level with the American people: Can you get unemployment to under 6 percent and how long will it take?

JOE BIDEN: I don’t know how long it will take. We can and we will get it under 6 percent. Let’s look at — let’s take a look at the facts. Let’s look at where we were when we came to office. The economy was in free fall. We had — the great recession hit; 9 million people lost their job; $1.7 — $1.6 trillion in wealth lost in equity in your homes, in retirement accounts for the middle class.

We knew we had to act for the middle class. We immediately went out and rescued General Motors. We went ahead and made sure that we cut taxes for the middle class. And in addition to that, when that — when that occurred, what did Romney do? Romney said, “No, let Detroit go bankrupt.” We moved in and helped people refinance their homes. Governor Romney said, “No, let foreclosures hit the bottom.”

But it shouldn’t be surprising for a guy who says 47 percent of the American people are unwilling to take responsibility for their own lives. My friend recently in a speech in Washington said “30 percent of the American people are takers.”

These people are my mom and dad — the people I grew up with, my neighbors. They pay more effective tax than Governor Romney pays in his federal income tax. They are elderly people who in fact are living off of Social Security. They are veterans and people fighting in Afghanistan right now who are, quote, “not paying any tax.”

I’ve had it up to here with this notion that 47 percent — it’s about time they take some responsibility here. And instead of signing pledges to Grover Norquist not to ask the wealthiest among us to contribute to bring back the middle class, they should be signing a pledge saying to the middle class we’re going to level the playing field; we’re going to give you a fair shot again; we are going to not repeat the mistakes we made in the past by having a different set of rules for Wall Street and Main Street, making sure that we continue to hemorrhage these tax cuts for the super wealthy.

They’re pushing the continuation of a tax cut that will give an additional $500 billion in tax cuts to 120,000 families. And they’re holding hostage the middle class tax cut because they say we won’t pass — we won’t continue the middle class tax cut unless you give the tax cut for the super wealthy.

It’s about time they take some responsibility.



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