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CNN LIVE TODAY
Interview With Richard Riordan
Aired January 11, 2002 - 16:32 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JUDY WOODRUFF, CNN ANCHOR: And we want to go to California now, where earlier this week Governor Gray Davis delivered his state of the state address and presented his agenda for the final year of his term.
State Republicans, including former Los Angeles Mayor Richard Riordan, say that Davis will be vulnerable when he seeks reelection this fall. But two days ago on this program, the governor told me his record is strong.
(BEGIN VIDEO CLIP)
GOV. GRAY DAVIS (D), CALIFORNIA: So we have wonderful programs to talk about that I don't think anybody can match, whether they have been a former office-holder or not. So my job is to do my job as governor and also communicate to people the progress we have made over the last three years.
(END VIDEO CLIP)
WOODRUFF: Richard Riordan is already off and running in his quest to become a replacement for Governor Davis. He wants to be the Republican nominee for governor and then be elected. He joins us now from Los Angeles.
Mayor Riordan -- I am still going to call you Mr. Mayor, because that's how we knew you for so many years.
(LAUGHTER)
WOODRUFF: Is Governor Davis right when he says his record has been a strong one when it comes to the economy?
RICHARD RIORDAN (R), CALIFORNIA GUBERNATORIAL CANDIDATE: Well, in his state of the state address this week, he stated that he had solved the energy crisis. I think he's the only person in California that thinks that.
And then he said he is going to use that expertise to solve the budget crisis. And yet, two years ago, he had the largest surplus, $12 billion, in the history of California. Today he could have the largest deficit in our history. So hardly, hardly does anybody think he has done a great job.
WOODRUFF: Well, what do you think should be done when it comes -- let's just focus on the economy first -- to get California on the right track?
RIORDAN: Well, you have to think long-term on the economy. We have some of the highest taxes in the country, highest energy rates. Our regulations are the most complicated, anti-business regulations in the country.
And we have to change this. We have to become business friendly, get businesses to grow in California, to come to California. Because I don't care whether you are a Republican or a Democrat: Successful businesses create quality jobs for the working poor and for everybody else.
WOODRUFF: So cut taxes and do something to lower energy costs, energy rates?
RIORDAN: And simplify our regulations. Let people know what the rules are if they want to start a business in California.
WOODRUFF: Now, you began airing your first campaign ad, where you talk not only about Governor Davis's handling of the economy. You talk about the way he has handled the education system -- and Governor Davis saying that he would not raise taxes to deal with the -- and we're showing some of this ad right now -- that would he not raise taxes to deal with the deficit.
My question is: Are you going to say -- are you, from now on, going to be more specific about your own plans?
RIORDAN: Well, first of all, I don't want to step on the legislature or the governor's constitutional authority over the budget. But yet he has not come up with -- virtually -- he has come up with virtually no finite suggestions on cuts. Most of what he has talked about is borrowing billions upon billions of dollars to cover this deficit.
So I'll wait until May, I think it will be, when he comes out and the legislature comes out with a very specific budget. But I think what they have to do is cut taxes. They have to draw business back to California, because a successful business pays taxes to the state and brings quality jobs to the state.
WOODRUFF: And when it comes to energy, you have talked about the deregulated market and said, in effect, it has been a failure. Should it be changed?
RIORDAN: I think you've got to give the private market a chance. If the governor had allowed that, what would have happened is that many more suppliers would have come into California to take advantage of the higher prices. And the competition would have lowered prices. And, also, people would have conserved more energy. I think we also should partner with our neighbor states, the Western 10 states, and form a common grid for energy.
WOODRUFF: And, Finally, Enron: Is there much fallout for California's energy situation? RIORDAN: I don't think so. I think people have confused Enron. I'm not the expert on this. But Enron lost all their money, basically, on other bets, like on broadband. They lost tens of billions of dollars on that. I think a good part of what they did on energy is intact certainly. We have to look to make sure that they didn't abuse the supplying of energy to California. But my guess is it's going to have very little fallout for California.
WOODRUFF: All right, Richard Riordan, former mayor of Los Angeles...
RIORDAN: Judy, thanks.
WOODRUFF: Mayor of Los Angeles formerly, now running for the Republican nomination for governor -- good to see you again. We appreciate you joining us.
RIORDAN: Thank you very much, Judy.
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