Graham takes on the CNBC freepers - Democratic Underground

lkinsale

(662 posts) Send PM | Profile | Ignore

Wed Jul-30-03 10:36 PM
Original message

Graham takes on the CNBC freepers

I just watched the re-run of Kramer and Kudlow, who have a financial talk show on CNBC. Graham was their guest, the first presidential candidate they have had on. They said the was the only one so far who had presented a comprehensive economic plan.

A fascinating show. I doubt many DU'ers saw it, which is too bad. I don't see a transcript, so I'll paraphrase from my notes.

First, they asked him to comment on the Rose Garden press conf with Bush. Graham said now that Bush has taken responsibility, he needs to do three things. First, hold someone accountable, second, get immediately behind the recommendations made in the 9/11 reports on improving communications btw intelligence services. (I don't seem to have noted number 3, sorry!)

He said he had just re-read the 28 pages, and all of the "ongoing investigations" and "sources and methods" contained there pertain to things happening in the late 90's and 95% of it is not current. Censor what small part of it is, and release. Accept the Saudi's request to release the report.

He also said that congress needs to define what we expect from the FBI. Do we expect stronger or more intrusive investigations or relaxation? Once this is defined, then refine intelligence agency accordingly.

For most of this part, Kudlow and Kramer seemed in agreement with Graham. When they got to the economic plan, their opinions diverged (naturally.) I must say it was a civilized debate. They said they disagreed with Graham's plan because it was "tax and spend."

Graham replied that his plan is an investment in "America's future." He said that the Bush tax cuts weren't working because Bush has fundamentally misjudged (I loved the way he emphasized this, he made Bush sound like an idiot) the economic problem--it is not a supply-side problem, it's a demand side problem.

He said that when consumers are confident they won't lose their jobs, they will begin to create demand, so put the tax cut money to working Americans (a reference to his payroll tax cut on the first 10k, which he says will actually be a greater tax cut than the Bush cuts he would repeal.) He said he was ashamed of what had happened to the economy and the deficit, and that it was a real disservice to our grandchildren. In terms of investing in infrastructure, he mention Abraham Lincoln's college creations, Eisenhower's investment in the interstate highways, and the GI bill as things which had paid for for investment in America in future generations.

Kudlow started to harange him about how it was really a supply-side problem, and the rich needed the money, and Graham just plain cut the guy off, really cut him off, and said, "The Bush cuts are unfair because they only benefit the top few percent of Americans."

Kudlow tried the "these are the people who do the investing" argument, and once again Graham cut him off and just said, "Do you think these cuts are fair?"

And the guy blustered around and said, "Yeah, cause they benefit the people who are getting dividends," or some such. At that point they started making their questions so long that they were just opinions instead of questions, until time ran out.

Over all, Graham was great. He is so super self-confident, and he doesn't back down or waffle one little bit. He says what he says, and the guys who don't agree are the ones who waffle.

Quite, quite interesting. I'm sure it would not change the minds of the Wall Street crowd, but I think he would impress anyone else.