Can two political podcasters do the work of an entire nation? Reviving one of the most famous political catch phrases of the last 50 years, Jeff and Glenn do their best to re-focus the political discourse of the entire country. With all the talk of torture, closing or not closing Gitmo, Colin Powell taking on Cheney taking on Obama taking on Cheney (which we talk about in this show), we have completely lost focus on the single most important thing the President and his team SHOULD be doing right now: dealing with once-in-a-lifetime systemic changes needed in our economy. Yes, we passed the stimulus. Now weâre in the weeds on a budget, and it looks like health care reform may be on the horizon. All well and good, but it’s time to take a step back:
- What got us into this problem in the first place?
- How are we going to systemically fix it?
- Was the repeal of Glass Stegal, which allowed financial institutions to get into any financial business, a mistake?
- Good old boring banks went from being banks to insurance companies and hedge funds.
- Should we put some regulations on the derivatives industry, which grew from a $1 trillion market in 1999 to $33 trillion today?
- Most important, we as a country have been living beyond our means since, ironically, the days of Ronald Reagan.
We are now an over leveraged society that consumes more than it produces and borrows more than it has the ability to repay and spend. We want a more effective, responsive, efficient, smaller (and Jeff would like a more liberal) government. With the economy rebounding and President Obama focused on other things, we’re losing our chance to make the changes needed to fix the economy going forward. While the rest of the media in this country has fallen asleep, or been sidetracked by entertainers like Rush Limbaugh or issues like closing Gitmo, we’re here to tell you that your moment awaits, President Obama. But that moment won’t last forever, and it will never be found if you continue to argue with Dick Cheney, or if we’re mired in discussion about torture photographs and wiretaps. James Carville’s words echo across time, like ripples that crest into rhythmic waves, repeating the mantra again, and again and again: it’s the economy stupid…
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