CARLOS GUTIERREZ: I am afraid of what Donald Trump would do to this country.
JAKE TAPPER (HOST): What are you afraid of? What do you mean, other than --
GUTIERREZ: Look, first of all, the economy is important to me. His plan -- I love the tax cuts, I'm a Republican. But then he has this sort of import substitution strategy, which is a strategy like an underdeveloped country. Very poor countries think that way, we have to substitute our imports. That would be a disaster. Especially if you cut taxes.
TAPPER: So Hillary Clinton, you think, would be better for the economy?
GUTIERREZ: I think so. I think that one thing the Clintons learned during President Clinton's time in office is budget deficits hinder growth. And that's what President Clinton did in the second term is cut the deficit, and that drove the growth. She's learned from that. I'm sure she knows that.
TAPPER: You are the former -- go ahead.
GUTIERREZ: The other thing, too, is just the kind of society that we will create. I heard the other day, as you know, that David Duke is running for Congress in Louisiana.
TAPPER: Yeah, he's running for Senate.
GUTIERREZ: All right, he's running for Senate. And he's under Trump's platform. Is that a trend? Are we going to see more of that? Is that the kind of society we're going to be? Are we going back 50 years? I don't want to go back 50 years.
TAPPER: I can already anticipate what Mr. Trump will say about it. He'll say you're the former CEO of Kellogg, former commerce secretary. Your company helps multinationals gain market entry. You sit on the boards of Occidental, MetLife, Time Warner. You're part of the global elite.
GUTIERREZ: I am a proud free enterprise guy. And I believe in trade, and and I believe in free enterprise. Secretary Clinton talked a lot about, in her economic speech, a lot about new business formation. That's the core of our growth. New businesses. Microsoft was once a new business. And it became a large business. Most new jobs come from new businesses. Those are concepts that you may say, well, that's kind of obvious. I haven't heard an economic concept come out of Trump's mouth except for protectionism and lower taxes. You put those two together, that is a recipe for disaster.
