Pundit Pap
for Sunday, July 28
Team Smirk economic spin is fundamentally unsound!
by The Pundit Pap Team
July 28, 2002 -- New York/Washington/Chicago (APJP, July 28, first edition, 2:10 PM) -- Whenever the present misadministration (or it's supposed boss, former Texas governor and West Wing incompetent George W. Bush) screws things up pretty seriously, they have made it a habit of sending a slew of their most loquacious liars to spin on the Sabbath Gasbag circuit.
This weekend, National Economic Council Director Larry Lindsey and Treasury Secretary Paul O'Neill were ubiquitous -- and used identical spin points. "The economy is fundamentally sound." "Deficits are good." "Our policies are based on sound economic principles." "The Texas Dauphin is showing leadership on the issue." "Look to the long term." "We're holding a summit in Crawford! That proves we're fully engaged with the issue!"
You don't think that Karl Rove is making it a little too obvious that the Smirk Posse speaks with one voice (namely, his)? Unfortunately, the coaching didn't do as good a job whenever talk would turn to Iraq -- and signs that some members of the Defense Department and military are coming to their senses and realizing that launching a military campaign against Saddam would be a potentially catastrophic blunder.
Since we are headed into the slow season, we're only covering select segments of a few shows through the end of August -- unless, of course, a decent scandal or national crisis crops up.
Here's a little of what you hopefully missed this Sunday.
This Weak
Countdown to Oblivion
Sam Donaldson and Cokie Boggs Roberts are soon to be shown the door. While the countdown to oblivion for The Toup That Roared (or in the case of This Weak, bored) and The Moralist Schoolmarm From Hell proceeds, we thought we'd tune in and watch Sunday's worst pundits for perhaps one last time.
We won't begrudge ABC, Sam or Cokie for beginning This Weak with coverage of the successful extraction of nine Pennsylvania coal miners from a collapsed tunnel some 240 feet underground in a well-coordinated 77-hour rescue mission that had overcome technical problems.
Sam Donaldson finally turned to a litany of economic bad news, welcoming Larry Lindsey, whose first spin point is that the economy is "fundamentally strong" -- citing, of course, highly selective facts.
Larry also helped Smirk spin his August "economicable" summit in Crawford, where a handful of Dopey Dubya's biggest supporters will try to "solve" the problem (no doubt with renewed calls for even MORE tax cuts and tougher sentences for corporate crooks while seeking ways to de-fund investigation and enforcement).
Sam then reminded Larry the Messenger Boy that Bill Clinton had slammed Team Smirk for blaming Clinton for the sour economy -- then played footage of the Big Dog himself blasting reform obstructionist (and current SEC Chairman and "Fixer") Harvey Pitt (who was notably absent this Sunday after the merciless reaming he took last week). The best Lindsey could do was try to push Junior's "leadership" and claimed that Pitt is "for the first time" demanding accountability from CEOs.
Larry, you dumb ass, that's what CLINTON was asking for -- and that's exactly what Pitt was lobbying AGAINST, which may account for his backing off and supporting accountability "for the first time." Rove is going to give you such a spanking for that poor choice of words.
Sam then turned the spotlight on Pitt -- and his brilliantly-timed demand for a raise and cabinet status. Lindsey called this telling news story a "distraction" and claimed Pitt wants to "raise the stature" of the SEC (huh? you mean make Americans even MORE aware of his multiple conflicts of interest and backing of "Newt"-onian deregulation of the securities market?). Sam essentially dismissed Larry, continuing to put Pitt in the spotlight -- which left an agitated-looking Larry deflecting and spinning. Sam asked Larry about expensing options -- and reminded Larry that even some of Smirk's "acolyte" handlers now support it? What about King Doofus? Larry said the issue should be up to shareholders.
Ha, ha, ha -- now that's rich! When the majority of shareholders are top company string-pullers, you can be sure they aren't going to want to expense stock options!
Sam made mention of the "sudden strength" of the dollar -- which only served to remind us of how weakened it has become under the Bogus POTUS. Sam also asked Larry if Americans should buy stocks, and Larry parroted the rest of the misadministration by saying "Look to the long term."
Sam than said that Mort Zuckerman said that the Fed should drop interest rates again -- and Lindsey weaseled out of an answer by saying that he does not comment on what former colleagues say (or something to that effect, in that he rattled his comment off so quickly we almost missed it).
The next guests: Pfizer CEO Henry McKinnell and Blackstone Group Chairman Pete Peterson. Cokie asked about the forthcoming summit and corporate turmoil, and Peterson cheerled for it -- then admitted outright that public perception of CEO corruption and excess compensation IS a huge problem (translation: a huge problem for Smirky and the GOP). Peterson's point:"This is what people read" -- for a moment sounding as if he were somewhat hinting that the bad news about corporate crooks being hauled away in handcuffs were some sort of propaganda and not factual reporting -- but then admitted that there are problems to be addressed before he attempted to go into hot-air grandstanding against expensing options.
McKinnell said that executive compensation is in fact a real problem for the economy and the public's trust in business; Cokie asked for his view on expensing stock options, and McKinnell pushed a "The jury is still out" line of argument before admitting that options "should be on the balance sheet."
Peterson said, "Our commission has not yet taken a position" (translation: we need to QUIETLY stop major reform by focusing on other corporate problems and making THEM issue one). Peterson also talked about an insurance CEO he had talked to about the issue of insuring CEOs, and with Arthur Andersen having audited about 20% of these companies, new auditors and procedures could have a negative impact on the economy (which was about the lamest cause-and-effect argument against reform we've heard outside of Rush Limbaugh). McKinnell said he believes the vast majority of CEOs are honest and ethical.
Cokie said that Smirk's economic team is inept when compared to his national security team (now Cokie, it's not that they're inept, it's that they look about as believable as a gang of midget professional wrestlers). In a sure sign that some GOPers have had it with Paul O'Neill -- not so much for being out of the country doing "oil binniss" as for embracing social issue with U2's Bono, we suspect -- Peterson said that Paul O'Neill should "...stay out of stock market speculation."
Cokie then turned to the "war on tairism" -- and the fact that some in Congress insist on hearings into Smirk's dreams of war with Saddam. Cokie welcomed Senator Joe Biden (D-DE) -- and started by talking up a Washington Post report stating that some in the military are against an invasion of Iraq. Biden detailed the complex questions about logistics and potential nation-building if we invade -- and said he feels there's going to be no attack on Iraq between now and November save the possibility of a provocation by Saddam.
Cokie actually dared mention the theory that Smirk is "wagging the dog" (horrors! the press dissing Smirk!) and distracting the public from mushrooming financial scandals (a shame she didn't mention Harken, Halliburton and Enron by name). Biden did point out a potential problem, asking what would happen if Saddam uses, say, chemical weapons against Israel -- and said he believes Saddam has them.
Cokie said that King Abdullah was asked this morning about the issue -- and he said there should be dialogue with Iraq and a focus on the real tinderbox in the Mideast, the Israel-Palestinian crisis. Biden said dialog with Saddam "is useless" -- but it's clear that the failure of progress in the Mideast crisis (translation: Smirk-o-lationism) exacerbates the problem, it's likely that Congress will find that dealing with Israel and the Palestinian Authority may be the first priority, and there is a need for serious discussion and options.
Cokie asked about a Congressional resolution to invade Iraq. Biden said that he believes the president MUST get congressional approval -- and there MUST be evidence of ties between Saddam and Al Qaeda or an imminent attack by Iraq prior to any moves against Saddam. Biden then blasted Smirk for not staying the course in Afghanistan: "We're far from finished there." No informed voice, he added, thinks that dealing with Iraq won't take years, perhaps a decade or more.
Cokie asked about Smirk's latest judicial extremist nominee, Priscilla Owen. Biden said he was in committee when her hearings were on, and said that he has seen reports that she goes beyond the law to impose her own views -- but he remains undecided and needs to look into her record.
Oh, no! The roundtable! Good news: The Satanic Georges -- Stephanopoulos and Will -- are away. Guest panelist Kim Taylor-Thompson said corporate execs are worried about reform -- but it still doesn't help investor confidence, and the present reform bill is symbolic rather than adequate. Paul Gigot, whining liar from the WSJ editorial page, tried to sound tough on boardroom corruption -- but doesn't want too much reform (God forbid that more REGULATIONS go on the books). He also tried to impugn Citibank and Morgan Stanley for somehow having been involved with Enron fraud (probably because it's easy to tie former Clinton team player Bob Rubin to the mess -- even though he was on board with Citicorp MONTHS after they worked on planning loans for Enron and look to have done nothing illegal and in fact may have been defrauded by Enron). There was some talk about blaming Clinton -- and like a moron, Gigot said "When has Clinton taken the blame for anything?"
Obviously, Gigot was hiding his head in the sand (or up John Fund's butt) whenever Clinton made one of many "The buck stops here" comments over the years. Kim said that Smirk actually showed class by dismissing the notion of putting blame on Clinton.
We were astounded, though, when Gigot talked about the Department of Homeland Security -- he skewered it, saying that little things like making sure that the FBI is wired for e-mail are a bit more important than another giant bureaucracy. Cokie said Smirk will get most of what he wants -- and there'll be a big signing ceremony in the Rose Garden (gag us with a presidential fountain pen).
Talk turned to helping the elderly get prescription drug aid. Kim said that the elderly vote in large numbers in off-years; Gigot lied by saying Dems ignored the issue, then OK'ed the idea of means-testing. Cokie said the House GOP had passed a bill -- and Republicans will flog it in their ads -- so now the pressure is on Senate Democrats. Kim said gridlock on the issue hurts the GOP -- so they see the need for Congress to pass something.
When talk turned to Desert Storm II, Sam contrasted Teddy Roosevelt's "speak softly and carry a big stick" slogan with Smirk's big mouth. Gigot said the Imbecile Prince "appreciates" debate over getting Saddam -- but Kim pointed out that Snippy has yet to make a case, and if there's evidence that Saddam was in cahoots with Osama, let the public see it. Sam asked Kim if it's worth staying in Iraq for five years, and Kim said no. Cokie said yes -- and in a typically arrogant comment said America has a "good track record" in this regard.
Oh, yes, Cokie, and that is what must account for Arab countries and average citizens of Islamic nations showing such heartwarming demonstrations of public love and appreciation for America over the past five decades. Are you nuts, Cokie? Do videotapes of Mideast demonstrations and chants of "Down, down, USA" ring a bell?
Gigot said Saddam tried to kill an American president and used poison gas on his own people.
And that's true. The world would in fact be a better place without Saddam, his clan, and his inner circle -- but America can't and shouldn't go it alone. If we can in fact justify attacking the Iraqi establishment, we should bring the case to the world-- and would get the support of our allies. All this war talk from "grownup" chicken-hawks is foolhardy -- and acting on it could be a catastrophe for the nation.
-- JJ Balzer
Meet the Pressure
Russert turns on his close personal friends in the White House
"Is the Bush economic team up to the task?" That was Tim Russert's first question. Translation: "Members of the press are actually questioning the competence of Smirk's Fiscal Animal House -- how quickly should they all be fired?"
"Deep concerns across the nation about the economy," said Tim as he welcomed Paul O'Neill -- and immediately bashed him with bad press from The New Republic, The Wall Street Journal, and The Orlando Sentinel -- all slamming O'Neill for being out of the country while the market melted down and disengaged from the economic crisis. "Are you on the way out?" O'Neill said his job is to focus on the economy and work on the fundamentals, Smirk cut taxes in a timely manner, and the misadministration is seeing growth in the economy as a result.
Talk about a non-answer, Paul -- and the "numbers" you cite don't seem to gibe with reality. Yep, you're on the way out.
And Tim lambasted him for his answer, contrasting his upbeat blather with the fact that millions of Americans are seeing their 401(k)s melt down. O'Neill gave another not-so-reassuring non-answer about a "war on economic terrorism" and how drilling for oil in East Asia helps Americans (he was out of the country talking -- you guessed it -- oil in former Soviet territory). He then called Americans "superficial" for a lack of understanding of the complexity of the economy and his job (we're sure they return the compliment, Paul). Tim then pummeled O'Neill, saying the stock market was collapsing and he was out of the country. O'Neill said he was only out for a few days and was in touch with the powers-that-be through the magic of telecommunications.
You have to love the irony -- that's the one sector of the economy that most investment and economics experts are most worried about!
And he said for at least the THIRD time that he was "working on fundamentals" -- then gave the lie to what he said about being out of the country not being a big deal by saying that he is canceling a trip to South America. He talked a good game about the US paying attention to the South American economy.
Tim then played footage of the Doofus early in his reign saying that he appointed O'Neill because he wanted someone who could soothe the markets and calm nerves when the market tanks -- and then Tim said to O'Neill that he's not doing that. O'Neill fired back -- and contradicted Smirk -- by saying it is not appropriate for him to say things that could affect the market and blathered on about "good news" concerning the economy and how difficult it is to get a word in edgewise about how good things really are (snicker).
But Tim was ready for that answer, pointing to articles showing that people do pay attention to what O'Neill says, citing an article from back last September after the attacks on New York -- and O'Neill said he has no apologies for saying things to people who helped reopen the markets after the attacks and dismissed all the talk about a recession as "one quarter of negative growth", reinforcing it with the (questionable) assertion that the economy grew in the fourth quarter of 2001. Tim said the S&P index has lost 37% of its worth since Smirk was granted the Blutarsky Throne by the Supine Court -- adding that the figure is TWICE the losses under Herbert Hoover. O'Neill droned on about people staying invested in the American economy because it's always a winner in the long run. In a brilliantly insane non-sequitur, he cited the nine miners rescued this morning as emblematic of the economy: "This is a nation of winners, Tim."
Well, if that were really the case, Gore would be President, huh., Pauly?
When O'Neill started gushing about "the wellspring of American prosperity" and "I don't rely on polls to know what I do," we began to wonder which of Karl Rove's staff briefed him with such a large number of phony-sounding platitudes -- about three times what we heard from Lindsey over on ABC.
They probably did it so he'd some off like a phony -- and give Smirk all the more reason to get rid of him.
Tim quoted Bob Rubin's comments blasting the tax giveback for the rich as being an underlying factor in the tanking economy. O'Neill LIED, saying that Rubin is calling for raising taxes -- but that is NOT the same as putting off or entirely canceling selective tax cuts. And Tim then hammered O'Neill and Smirk for breaking the promise not to raid Social Security. O'Neill looked and sounded testy as he tried to weasel out of the issue and assert that the nation would soon return to budget surpluses.
Uh-huh, Paul -- but only once we have fiscally disciplined Democrats leading both houses of Congress.
Tim confronted O'Neill with his own deficit numbers, again pressing the issue of repealing the tax cut.
What has gotten into Tim? During the Clinton years, he was siding with supply-siders -- and now he's hammering O'Neill and the Shrub for bad economics! Tim, what will your close personal pals in the White House think?
Tim said that there were going to be no Democrats at the August Economic Summit'n'Barbecue being hosted by Fake Rancher George in Crawford. O'Neill looked caught completely off guard, trying to act as if it were not true -- so Tim told him that Ari Fleischer had said as much. When Tim asked O'Neill if he is the top spokesman for Chimp Boy's economic policy (implication: he has let Prince Stupid and America down and the buck stops with Paul), O'Neill turned even snippier, saying so and rationalizing his statements and trips.
What a great segment. Tim succeeded not only in making O'Neill sound hypocritical, but also stressed and pissed off by the end. His days in the misadministration are numbered. Bank on it.
Well, summer is here, and "slack season" for the pundit shows looks to have hit a week early. Tim spent the second half of the show jabber-jawing with has-been Nixon apologist and lying Clinton-basher Bill "Satire" Safire and former LBJ moll Doris Kearns Goodwin. Someone tell me: what is with those eyebrows that make her look sort of like ET?
The chat was less than inspired. We tuned out.
-- JJ Balzer
Quick Take: Larry Lindsey's Lame Edition
We took quick look at the first half-hour of a program we seldom cover, CNN Late Edition. Back in the spring, it went to a three-hour format -- and while we think Wolf could be a little more probing and a lot less guest-friendly, he usually interviews a dozen political guests -- and lords over what has turned into the best panel segment on Sunday TV, with the likes of regulars Donna Brazile (of the winning Gore campaign), Peter Beinart (of The New Republic[an]), and Jonah Goldberg (okay, he's an agent-provocateur of the hard right and belongs in jail for helping his mom violate federal law by spying on the Prez, but he's sharp and funny on the panel, and almost always wrong). It's marathon viewing for political junkies, and way better than CNN's Capitol Gang, Reliable Sources, and Novak, Hunt & Shields.
After a report on the Great Mine Rescue in Pennsylvania -- the sort of happy-ending story so seldom seen on cable news television -- Wolf Blitzer welcomed White House Budget Mangler Larry Lindsey, in pretty much a rerun of his This Leak performance, but without the skepticism of ABC's hosts on the question of Smirk's economic gurus' competence.
What was of interest was that Wolf started pressing Lindsey on the wisdom of Smirk's protectionist position on (grossly overpriced) American steel -- and Lindsey trying to weasel his way out of not admitting that Smirk is in effect subsidizing a noncompetitive industry at taxpayer expense.
Good questions, Wolf -- but get mean!
-- Donna Wynner
JJ Balzer is a former television news producer. He lives in New York City.
Donna Wynner is a former model and a present-day litigator and mom. She lives in Fort Lee, New Jersey.
Copyright © 2002, 2001, 2000, 1999, 1998, 1997, 1996, American Politics Journal Publications, Inc. All rights reserved. Read our privacy policy. Contact us.
ISSN No. 1523-1690