Charlie Rose

JoePolito  01/26/2011 09:55 PM Report

The economist magazine had a very penetrating comment on Paul Ryan's inclusion of Ireland in his warning about the fate of America: http://www.economist.com/blogs/democracyinamerica/2011/01/austerity_measures

The concluding paragraph says Ryan "blames the Great Recession on "poor decisions made in Washington and Wall Street that caused a financial crisis, squandered our savings, broke our trust, and crippled our economy." The last is true enough. But the "poor decisions made in Washingon and Wall Street" were decisions to cut income taxes irresponsibly during a recovery, to deregulate the financial sector, to shift the resulting risks onto American taxpayers, and to make financial institutions and investors whole rather than forcing them to accept haircuts and cramdowns. We, our children and grandchildren will have to pay off heavy debts because government abdicated its responsibility to regulate and restrain the financial sector. Mr Ryan and his party, who have vowed to roll back last year's financial-regulation bill, seem intent on compounding that error. The last thing we need is to "unshackle" the financial industry again."

concernedmichigander  01/26/2011 02:20 AM Report

Charlie, what I saw Obama's speech was better cut the Republicans off at the knees. Make himself look like really cares when he proved at the funeral in Tuson. His ratings were down 18%, after up 8%.I will always think that man wants to be more a celebrity than a president. Also the woman from California of course is for Obamacare. She has so many illegals, she needs the whole country to pay for them same as for welfare and schools.I am an independent but with the way the Democrats are acting, Polisie,Reed as example... Think they are entitled which is wrong. If I remembered. People voted them in. People need to get rid of the never ending Senator & house, free healthcare,free retirement, free housing.Michigan as finally started. Just l little upset to say the least. Thank you for all you do. I talk about what is on you show, you do us proud.

REMant  01/25/2011 01:54 PM Report

Well, first of all the Constitution orders such a report, taken from British monarchical practice, but it doesn't mandate that it be delivered in person. If you want to take the presidential office down a peg or two, then don't invite him. We need, as I've written many times before, to increase our productivity, not our spending, whether it is govt spending or individual spending. At the same time we need to stop our borrowing and money printing and increase savings for investment. If this Congress descends into questions merely of whom is going to spend or what it is going to be spent on, it will not accomplish the task at hand. But it also needs to keep in mind the moral hazard spending creates. The president is a welfare capitalist, a democratic socialist, not a free market, free trader. Politically, this agrees with the majority of the Democratic base, the teacher's unions and unions generally. It is alleged that Obama has turned to Rubin proteges and a strong dollar policy, but, if so, he hasn't yet apparently informed the Federal Reserve. Because of the secrecy surrounding this speech, despite the advance notices, I suspect it will contain some sort of Kennedy-like challenge. We already know it will include a Reaganesque paean to the Democratic heroes of Tucson. I won't mention anything about this being a plug.