Full Transcript: Presidential Debate September 26, 2016 Donald Trump vs Hillary Clinton

Donald Trump: Well, for one thing — and before we start on that — my father gave me a very small loan in 1975, and I built it into a company that’s worth many, many billions of dollars, with some of the greatest assets in the world, and I say that only because that’s the kind of thinking that our country needs. Our country’s in deep trouble. We don’t know what we’re doing when it comes to devaluations and all of these countries all over the world, especially China. They’re the best, the best ever at it. What they’re doing to us is a very, very sad thing. So we have to do that.

We have to renegotiate our trade deals. And, Lester, they’re taking our jobs, they’re giving incentives, they’re doing things that, frankly, we don’t do. Let me give you the example of Mexico. They have a VAT tax. We’re on a different system. When we sell into Mexico, there’s a tax. When they sell in — automatic, 16%, approximately. When they sell into us, there’s no tax. It’s a defective agreement. It’s been defective for a long time, many years, but the politicians haven’t done anything about it.

Now, in all fairness to Secretary Clinton — yes, is that OK? Good. I want you to be very happy. It’s very important to me. But in all fairness to Secretary Clinton, when she started talking about this, it was really very recently. She’s been doing this for 30 years. And why hasn’t she made the agreements better? The NAFTA agreement is defective. Just because of the tax and many other reasons, but just because of the fact…

Lester Holt: Let me interrupt just a moment, but…

Donald Trump: Secretary Clinton and others, politicians, should have been doing this for years, not right now, because of the fact that we’ve created a movement. They should have been doing this for years. What’s happened to our jobs and our country and our economy generally is — look, we owe $20 trillion. We cannot do it any longer, Lester.

Lester Holt: Back to the question, though. How do you bring back — specifically bring back jobs, American manufacturers? How do you make them bring the jobs back?

Donald Trump: Well, the first thing you do is don’t let the jobs leave. The companies are leaving. I could name, I mean, there are thousands of them. They’re leaving, and they’re leaving in bigger numbers than ever. And what you do is you say, fine, you want to go to Mexico or some other country, good luck. We wish you a lot of luck. But if you think you’re going to make your air conditioners or your cars or your cookies or whatever you make and bring them into our country without a tax, you’re wrong. And once you say you’re going to have to tax them coming in, and our politicians never do this, because they have special interests and the special interests want those companies to leave, because in many cases, they own the companies.

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So what I’m saying is, we can stop them from leaving. We have to stop them from leaving. And that’s a big, big factor.

Lester Holt: Let me let Secretary Clinton get in here.

Hillary Clinton: Well, let’s stop for a second and remember where we were eight years ago. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm. In fact, Donald was one of the people who rooted for the housing crisis. He said, back in 2006, “Gee, I hope it does collapse, because then I can go in and buy some and make some money.” Well, it did collapse.

Donald Trump: That’s called business, by the way.

Hillary Clinton: Nine million people — 9 million people lost their jobs. Five million people lost their homes. And $13 trillion in family wealth was wiped out. Now, we have come back from that abyss. And it has not been easy. So we’re now on the precipice of having a potentially much better economy, but the last thing we need to do is to go back to the policies that failed us in the first place. Independent experts have looked at what I’ve proposed and looked at what Donald’s proposed, and basically they’ve said this, that if his tax plan, which would blow up the debt by over $5 trillion and would in some instances disadvantage middle-class families compared to the wealthy, were to go into effect, we would lose 3.5 million jobs and maybe have another recession.

They’ve looked at my plans and they’ve said, OK, if we can do this, and I intend to get it done, we will have 10 million more new jobs, because we will be making investments where we can grow the economy. Take clean energy. Some country is going to be the clean- energy superpower of the 21st century. Donald thinks that climate change is a hoax perpetrated by the Chinese. I think it’s real.

Donald Trump: I did not. I did not. I do not say that.

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Hillary Clinton: I think science is real.

Donald Trump: I do not say that.

Hillary Clinton: And I think it’s important that we grip this and deal with it, both at home and abroad. And here’s what we can do. We can deploy a half a billion more solar panels. We can have enough clean energy to power every home. We can build a new modern electric grid. That’s a lot of jobs; that’s a lot of new economic activity. So I’ve tried to be very specific about what we can and should do, and I am determined that we’re going to get the economy really moving again, building on the progress we’ve made over the last eight years, but never going back to what got us in trouble in the first place.

Lester Holt: Mr. Trump?

Donald Trump: She talks about solar panels. We invested in a solar company, our country. That was a disaster. They lost plenty of money on that one. Now, look, I’m a great believer in all forms of energy, but we’re putting a lot of people out of work. Our energy policies are a disaster. Our country is losing so much in terms of energy, in terms of paying off our debt. You can’t do what you’re looking to do with $20 trillion in debt. The Obama administration, from the time they’ve come in, is over 230 years’ worth of debt, and he’s topped it. He’s doubled it in a course of almost eight years, seven-and-a-half years, to be semi-exact.

So I will tell you this. We have to do a much better job at keeping our jobs. And we have to do a much better job at giving companies incentives to build new companies or to expand, because they’re not doing it. And all you have to do is look at Michigan and look at Ohio and look at all of these places where so many of their jobs and their companies are just leaving, they’re gone. And, Hillary, I’d just ask you this. You’ve been doing this for 30 years. Why are you just thinking about these solutions right now? For 30 years, you’ve been doing it, and now you’re just starting to think of solutions.

Hillary Clinton: Well, actually…

Donald Trump: I will bring — excuse me. I will bring back jobs. You can’t bring back jobs.

Hillary Clinton: Well, actually, I have thought about this quite a bit.

Donald Trump: Yeah, for 30 years.

Hillary Clinton: And I have — well, not quite that long. I think my husband did a pretty good job in the 1990s. I think a lot about what worked and how we can make it work again…