
Partial transcript of segment featuring Bill Daley, President Clinton's former Commerce Secretary, and Jim Baker, former Chief of Staff to President Reagan:
Tom Brokaw to former Treasury Secretary, Jim Baker:
MR. BROKAW: Secretary Baker, is there anything short of bankruptcy that the Republicans would sign off on to help Detroit?
MR. BAKER: Well, I can't speak for the Republicans generally, Tom, but what I think the president-elect could do in, in this case is take a page from, from President Ronald Reagan's book back in 1987 when every major automobile company chief executive came in pounding on my desk as secretary of the Treasury and then over at the Oval Office demanding protection against Japanese and Korean imports. And it wasn't easy for President Reagan to do this, but he said, "Wait a minute, I'm not going to do that. We believe in free trade. What you're going to have to do is get competitive, you're going to have to downsize and streamline," and they did that. When, when, when a bailout-type approach was denied them and when they were not given protection, they did downsize, they streamlined, they became one of the most effective and efficient automobile industries in the, in the world. And that's the kind of approach, I think, that most Republicans would like to see to the problems of Detroit.
Duhh!
If I understand Baker's suggestion, the Republican response to a devastating economy and unemployment levels that threaten to destroy American families, is to layoff and fire more workers?
The key part of the statement attributed to Reagan is:
We believe in free trade. What you're going to have to do is get competitive, you're going to have to downsize and streamline.
I would normally include some definitions, but I think we can all agree on the definitions of "
downsize" and "
streamline." (If I'm wrong, let me know.)
Millions unemployed, more underemployed, the potential loss of millions of American jobs, the loss of a significant chunk of American manufacturing, and Baker thinks the answer is putting more workers out of jobs.
Of course, when given the choice of giving up their corporate jets or laying off workers, most American businesses would line up behind Baker.
On the other side of the political aisle, President-elect Barack Obama announced during this weekly address that he is taking steps to introduce a stimulus package that includes the protection and creation of 2.5 million jobs.
Is it any surprise Americans, faced with the most devastating economic environment since the Great Depression, voted overwhelmingly for Democrats in November?