MSNBC Interview - Transcript

Interview

MSNBC Interview - Transcript

MSNBC INTERVIEW WITH GOVERNOR TIM KAINE (D-VA)

SUBJECT: ECONOMIC STIMULUS PACKAGE INTERVIEWER: ANDREA MITCHELL

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MS. MITCHELL: Rumored last-minute hang-ups on the Hill could delay today's expected House vote on that compromised stimulus package. The vote is now more likely to happen tomorrow followed by a vote in the Senate. Details still being worked out, but the package is expected to include $54 billion in aid for states with another $90 billion allocated to offset Medicaid costs.

With us now, Virginia Governor Tim Kaine, Chairman of the Democratic National Committee, joining us live from Virginia. Thanks for joining us.

Governor, is this the right mix? Is it the right thing to do for the states? Is there a risk that there's too much spending and that your constituents and Democrats and Republicans across the country are going to push back and say, what are we doing here? Have we really looked at this closely enough?

GOV. KAINE: Andrea, I think it is the right mix and it is desperately needed and we need to act urgently to stop this economic slide. You know, as I look at the package its basically got three solid components that the president laid out a month or so ago, the first is tax cuts for working American families, those that make less than $150,000 a year so that they can pay bills, keep food on the table, maybe put a little bit into educating their kids, very, very important. That will start some spending again that will help the economy.

The second piece of it is infrastructure spending. Our nation has a deteriorating infrastructure; we've seen that and so to build roads, bridges, retrofit homes to make them more energy efficient, it will save money, it will put people to work and it will build a greater platform for long-term economic success. And then the final pieces, we have to help shore up those who have been hit so hard by 1.8 million job losses in the last three months, and so that is Medicaid to help deal with growing Medicaid roles and unemployment insurance extensions so that our unemployed workers can, you know, be carried through, hopefully, get some retraining and then get back to work.

You can argue about the size of each of the three pieces, but I think as I look at it, the ultimate compromise is very close to what the president laid out a month or so ago is his goal and I think we need to get this passed and my state and all states will benefit tremendously if we can get this done.

MS. MITCHELL: Governor, I know you were with the president yesterday and how in Virginia, let's take it down to the local level in your state, how will this translate into jobs? When can people begin to see some improvement in the unemployment side?

GOV. KAINE: Well, sure, let's just talk about the infrastructure spending. We had to change our six-year plan for transportation in June, Andrea, and take 40 percent of the projects, road construction projects off the list because of declining state and federal transportation revenue. So these were ready to go projects addressing critical infrastructure needs that are needed to keep the economy strong that we had to take off the list.

So if this infrastructure plan passes, we can revive those projects consistent with the federal guidelines and use them to use yesterday's case as an example, a critical road project to better serve small businesses to reduce congestion and to serve an 8,500- person critical defense agency, the National Geospatial Intelligence Agency in southern Fairfax, Virginia.

So it's good for jobs in the short-term and then it builds a greater platform for economic success in the long-term.

MS. MITCHELL: Now, the Republicans are launching radio ads against Democrats who supported the stimulus bill. What does that tell you about the future prospects of so-called bipartisanship?

GOV. KAINE: Well, you know, Andrea, what I would say is this, bipartisanship may have some challenges on Capitol Hill; no Republicans voted for this plan in the House and there were a few in the Senate, obviously, who worked on it, not many, but it's working outside the Beltway, 67 percent of the American public supports what the president has done on this stimulus plan. In Florida two days ago, he stood up with the Republican governor of Florida and the Republican mayor of Ft. Myers, my colleagues, governors across the country; Republicans are largely in support of this plan happening now.

So the president needs to keep on a message of national unity. He can't force people who want to vote no to get on board and try to work with him, but the American public, Democrat and Republican and independent, strongly believe that this is what the economy needs right now.

MS. MITCHELL: And are you satisfied with what you're seeing out of the Treasury Department, perhaps they got off to a rocky start, but are people in Virginia, are you willing to give them more time to work out the details?

GOV. KAINE: Absolutely, you know, for as complicated as the stimulus plan is, I think the right mix of regulation for the financial markets, Andrea, is even more complicated because, obviously, there's dangers if it's too hot and dangers if it's too cold. The goal is to get credit flowing again, to try to back stop the Americans who are having such difficulties with foreclosures, to try to rein in some of the irresponsible excesses that you've seen from some of the financial markets.

So those three things are what you have to do in this financial regulation. We've got a great economic team. There's nothing magical about this; you just have to kind of try to do it as best as you can. We've got a good team that I think has a good plan together and they will begin to try to accomplish those three goals to get the market stabilized again.

MS. MITCHELL: Governor Tim Kaine, Democratic National Chairman, governor of Virginia. Thank you very much.

GOV. KAINE: Thanks, Andrea.

END.

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