And I think this is the only time I can remember when a lot of the national polls are closer than the polls in the so-called swing states. That's because the Obama campaign doesn't have as much money, so they have to concentrate that in the swing states and we are doing pretty well. So I think -- I think, assuming the debates are even a draw, I think the president will win.
But I think you can't know because of the enormous financial advantage that Citizens United to these Republicans super PACs, and because of the work they have done and will do on Election Day to try to reduce the number of young people, first generation immigrants, and minorities voting.
I mean, they have worked hard at this. They have a theory that if the election, the people who vote in 2012 look more like the 2010 electorate than the folks that elected the president in the first place in 2008, that is, they get enough of those folks to stay home, they can still win. So that's why we have got to keep working at it.
SCHIEFFER: You know, the fact is, and you have made -- as I said, you probably made as good -- made the case as good as anybody could make it for President Obama, but the fact is, unemployment is up.
It is higher than when he came to office, the economy is still in the dump. Some people say that is reason enough to make a change.
CLINTON: It is if you believe that we could have been fully healed in four years. I don't know a single serious economist who believes that as much damage as we had could have been healed.
We were losing 700,000-800,000 a jobs a month when he took office. And so you really have got to look at it when the economy bottomed out in about six months after he took office, and we lost jobs for the first year while his programs were beginning to kick in.
Since then, his jobs record is actually better, particularly his private sector jobs record, than in the previous eight years under the Bush administration. So my belief is that his approach is more likely to lift Americans up and to build a modern economy we need and to bring back the middle class.
And I don't think there is any evidence that this sort of militant anti-government deal will work. I also think that if they enact $5 trillion more of tax cuts we will never get out of this debt hole.
And when the interest rates start to rise, as they will when the economy grows, we are going to be in a world of hurt. So I think that the Obama approach is better. It is more likely to produce broad- based prosperity than Romney's.
And I think that people will see that unless they believe that somehow magically somebody could have brought us back to full employment in four years. I just don't believe it could have happened.
SCHIEFFER: Mr. Romney released his income taxes for last year this week. Do you think he has given enough information?
CLINTON: Well, it would be interesting to know, you know, I think some people just get -- I think John McCain only gave two years, but he did make Senate reports before that. I think we gave 10 years or something like that.
That is really up to voters. They can decide. But in the last two years he wouldn't have any ordinary income, which would mean that most of his income would be capital gains, as it is, and they would be taxed at 15 percent, which is what the law is.
And he gave a lot to charity, which is commendable, including to his church, which is commendable. But it would be interesting I think for the American people to see how the ordinary income years were treated, but apparently we are not going to get to see that so the voters will just have to make up their mind.
SCHIEFFER: What did you make up of this that he didn't take all of the charitable deductions that he could have taken? Now he can for the next -- he has the right over the next three years to re-file and claim those deductions but he didn't take them.
And I guess if he had taken all of those deductions he would have been paying at a rate of about 10 percent, something like that.
CLINTON: Yes, apparently they wanted to keep it at 13, 14 percent, but that is -- I don't know what to say about that. I think it is what it is. But I think he shouldn't apologize for his charitable deductions, that is a good thing.
But I don't think we can get out of this hole we are in if people at that income level only pay, 13, 14 percent. And so we will just see what happens. But I think apparently he is not going to release any more income tax returns and the voters will just have to make their judgments about that. SCHIEFFER: All right. Mr. President, we are going to take a break here and we'll come right back in one minute.
SCHIEFFER: Mr. President, the Congress is adjourned again until after the election. The best I can tell the only thing they did was pass a continuing resolution to keep the government from shutting down.
There seems to be no end to this gridlock now. It was tough while you were there, over the last couple of years, nothing seems to get done. It seems to me that is one of the issues here. President Obama has been unable to get them to do anything. Mitt Romney says he knows how to get them to do something.
What is it going to take to break this gridlock?
CLINTON: Well, I think the election will have a lot to do with it. We only had one really inactive year when I was president, that was 1995, after the Gingrich Congress came in, that sort of pre-tea party, tea party Congress, and not much happened. And then there was two government shutdowns.
The public had a very negative reaction to it, so even in a presidential year we got a lot done in '96. And even with all of the troubles that we had in the second term, we had -- '99 and 2000 were extremely productive years.