Im-Politic: Why CNBC’s GOP Debate Performance Really was That Bad

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Bernie Sanders, CNBC, Donald Trump, economists, GOP, Im-Politic, Jeb Bush, Mainstream Media, Marco Rubio, Mike Huckabee, political class, presidential debates, Republicans, special interests

As both a former journalist and an analyst who has worked closely with them, I’ve long shed any illusions about the smarts, the energy, or the integrity of the vast majority of this profession’s members, and especially those that work for national, Mainstream Media outlets. Nor do I have any more doubts about the mounting danger to American democracy’s health posed by the combination of Big Journalism’s immense influence, its near perfect isolation from the lives and concerns of Main Street Americans, its fierce protectiveness of self-serving elitist groupthink, and its almost complete lack of accountability.

And for all this cynicism, I am still slackjawed over the appalling conduct of the three CNBC moderators of last night’s Republican presidential debate in Colorado. (Here’s the full transcript, if you’re a masochist.)

Make no mistake. This complaint isn’t about “tough questions” – or coddling thin-skinned politicians. This is about an unforgivably imperious effort to decree virtually an entire major political party to be devoid of presidential candidates remotely fit for office, and its rank and file to be all but subhuman in intellect. More troubling – because largely unwitting – this course reflected less deliberate partisanship than an instinctive protectiveness of the current political class and its excessive status and privileges.

If you think I’m being too harsh, consider the following questions:

For (still?) front-running businessman Donald Trump: “Is this a comic book version of a presidential campaign?”

For Florida Senator Marco Rubio: “You’ve been a young man in a hurry ever since you won your first election in your 20s….Why not slow down, get a few more things done first or least finish what you start?”

For former Florida Governor Jeb Bush: “Ben Bernanke, who was appointed Fed chairman by your brother, recently wrote a book in which he said he no longer considers himself a Republican because the Republican Party has given in to know- nothingism.”

For former Arkansas Governor Mike Huckabee: “As a preacher as well as a politician, you know that presidents need the moral authority to bring the entire country together. The leading Republican candidate, when you look at the average of national polls right now, is Donald Trump. When you look at him, do you see someone with the moral authority to unite the country?”

And then there was this question (to Trump) – less obviously insulting, but just as revealing of the “pull up the drawbridge” mentality: “I talked to economic advisers who have served presidents of both parties. They said that you have as chance of cutting taxes that much without increasing the deficit as you would of flying away from that podium by flapping your arms.”

Let’s leave aside how a Trump (or Ben Carson, or Democrat Bernie Sanders, for that matter) presidency would kneecap the access to power responsible for the livelihoods not only of establishment journalists but of the policy world’s politically ambitious economists. Let’s also therefore leave aside that the vast majority of the economists that national journalists would consult with are driven not only by such career considerations, but by agendas that are either hopelessly partisan or determined by the special interests that fund them.

Let’s focus instead on the operative assumption that anyone can forecast to any useful extent the impact of tax rate changes on a $16-plus trillion economy with some 142 million (nonfarm) workers, nearly 93 million working age Americans outside the workforce, 123.2 million households, and nearly 7.5 million businesses. Yes, it’s widely believed that the economics profession boasts these powers. But simply articulating this premise, as opposed to accepting it mindlessly, reveals how looney it is, even when it comes to intellectually honest analysts.

The CNBC moderators actually did ask some serious and therefore necessary questions that exposed inconsistencies, factually dubious claims, and unreasonable assumptions in some of the candidates’ proposals. But follow-up was limited – and many issues ignored completely – because it was obviously imperative to leave sufficient time for mudslinging and incitement.

Ironically, CNBC was hoping that last night’s broadcast would attract big new audiences to its daytime finance and economics coverage. If there’s any justice, most of these new viewers turned off their sets vowing, “Never again.”

Im-Politic: Rating the Journalists at the Front-runners’ Republican Debate

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bankruptcy, Ben Carson, Chris Christie, Chris Wallace, debate, Donald Trump, Fox News, Im-Politic, Jeb Bush, John Kasich, journalism, Marco Rubio, Megyn Kelly, Mike Huckabee, religion, Republicans, Scott Walker, Silicon Valley

Since Donald Trump still almost certainly won’t be the Republicans’ presidential nominee this year, my reactions to the first GOP presidential debates need to deal with the 16 other candidates, too. But since Trump is still The Story of Campaign 2016 so far, I need to start off by correcting a mistake in yesterday’s post on his performance. I was slightly inaccurate in my description of his response in the front-runners’ debate to Fox News’ Megyn Kelly’s charge that he’s often insulted women.

Then I’ll segue into an examination of how well or poorly she and her colleagues organized and conducted the session – because the press’ performance clearly will have powerful effects on the presidential race itself.

I wrote yesterday that, rather than trashing Kelly personally, Trump should have focused on framing her question as typifying the superficial “gotcha” mentality that’s dominated mainstream journalism for so long and thus helped degrade American politics. (And of course, Trump should have made this observation “in sorrow, not in anger.”)

But Trump actually did try to Go Serious. As the transcript shows, after his Rosie O’Donnell crack, he insisted that “I don’t frankly have time for total political correctness. And to be honest with you, this country doesn’t have time either. This country is in big trouble. We don’t win anymore. We lose to China. We lose to Mexico both in trade and at the border. We lose to everybody.” The trouble is, immediately afterwards, and especially the following day, he was back in Tabloid Land.

Nonetheless, overall, Kelly and her Fox colleagues did a pretty good – and “fair and balanced” – job at the front-runners event. The initial questions for all the candidates zeroed in on conspicuous weak spots in their records – from neurosurgeon Ben Carson’s unfamiliarity with foreign policy, to former Florida Governor Jeb Bush’s dynasty and “W” problems, to New Jersey’s economic woes under Governor Chris Christie, to Wisconsin Governor Scott Walker’s extreme pro-life abortion stance, to former Arkansas Governor Mike Huckabee’s challenge in broadening his appeal beyond Christian conservative ranks.

My main criticism on this score is that the subjects of these questions were somewhat too conspicuous. That is, each candidate had obviously heard all of them before, and had had plenty of time to rehearse answers. Moreover, some really obvious follow-ups were neglected throughout the debate. For example, why didn’t any of the panelists point out to Bush that the impressive numbers racked up by his state’s economy during his tenure stemmed largely from a housing bubble that burst disastrously just as he was leaving office?

In addition, Fox’s Chris Wallace once again demonstrated how pitifully little political reporters know about business and finance. As Wallace saw it, a handful of bankruptcies declared by Trump’s businesses over the last 25 years cast doubt on the candidate’s qualifications “to run the nation’s business.” Wallace obviously doesn’t know that failure is such a common aspect of doing business that, as one analyst has noted (and in connection with this Wallace question) it’s “a background term to every contract.  It’s an embedded option.  Lenders price for it.”

Perhaps more important, Wallace is obviously clueless about the essential role bankruptcy plays in producing success. A good businessman or woman uses it the way any intelligent person uses the mistakes that all of us make – as a learning opportunity. Indeed, the most celebrated part of U.S. economy (rightly or wrongly), Silicon Valley, has begun to celebrate failure as an essential ingredient of eventual success.

Finally, I was troubled by the Fox journalists’ decision to pose this viewer question: “I want to know if any of them have received a word from God on what they should do and take care of first.”

I know that subjects like this are of intense interest to many Republican voters in particulara. But you don’t have to oppose injecting religion into political and public policy matters to recognize that this query was bound to unleash a torrent of the most vapid homilies imaginable, notably Florida Senator Marco Rubio’s declaration that “I believe God has blessed our country. This country has been extraordinarily blessed. And we have honored that blessing. And that’s why God has continued to bless us” and Ohio Governor John Kasich’s “I do believe in miracles.”

The only saving grace (no pun intended!) in this segment of the debate was Walker’s statement that “I know that God doesn’t call me to do a specific thing, God hasn’t given me a list, a Ten Commandments, if you will, of things to act on the first day. What God calls us to do is follow his will.”

Here’s hoping that the rest of the 2016 field shows similar restraint in declaring themselves or their agenda or their party to be the Almighty’s anointed messengers – with all the ugly insinuations about their opponents that logically follow, whether they’re intended or not.

Next on RealityChek: a discussion of those Republican candidates not named Donald Trump, including the participants in the undercard.

Im-Politic: Where We Stand So Far with Trade and the 2016 White House Race

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2016 elections, Bernie Sanders, Carly Fiorina, Democrats, fast track, Hillary Clinton, Im-Politic, manufacturing, Martin O'Malley, Mike Huckabee, Populism, Rand Paul, Republicans, Rick Perry, Rick Santorum, Tea Party, TPA, TPP, Trade, Trade Promotion Authority, Trans-Pacific Partnership

“Something” is definitely going on with the politics of international trade in the United States these days – I just wish I knew exactly what it is. But in the last few weeks, as the national and Congressional debates over President Obama’s trade agenda have heated up, any number of apparently conflicting and potentially important developments in this area have broken into the news.

The chief inconsistency seems to involve presidential candidates in both parties on the one hand, and some new poll results on the other.

If you were just following the 2016 presidential campaign so far, you’d think that support for new trade deals like the president’s proposed Trans-Pacific Partnership (TPP) has become absolutely toxic. Among Democrats, declared candidate Senator Bernie Sanders of Vermont is dead-set against them, as is former Maryland Governor Martin O’Malley, whose announcement is imminent. Front-runner Hillary Clinton, meanwhile, has a mixed trade policy record, but even though she pushed the Pacific Rim trade agreement as Mr. Obama’s Secretary of State, she’s evidently so wary of alienating voters that she refuses to take a stand either way now.

Opposition to new trade agreements is just as pronounced – and in many ways much more startling – among many Republican contenders and hopefuls. The GOP’s Congressional leadership has become a bulwark of the president’s hopes for fast-tracking such deals through Congress and thus greatly enhancing their chances of approval. But lots of the current Republican field is marching to a much different tune.

Former Arkansas Governor Mike Huckabee was a trade policy skeptic when he last ran in 2008, and still is.  Rick Perry has no such history. In fact, he was last seen as governor of Texas welcoming with open arms investments in his state by Huawei, the Chinese telecommunications manufacturer that’s viewed as a likely threat to U.S. national security by the executive branch and the Congress. But despite supporting TPP, he’s expressed major reservations about its transparency and about entrusting it to Mr. Obama.   

And then there are the cases of Carly Fiorina and Kentucky Senator Rand Paul. The former, when she ran Hewlett Packard, defended her record of sending jobs and production to China with the (widely blasted) statement that “There is no job that is America’s God-given right anymore.” More revealing, she accused trade policy critics of naively seeking to “build walls around America” and “running away from the reality of the global economy.” Now she says she’s “very uncomfortable” with TPP.

Paul, of course, has been a darling of libertarians, but voted against fast tracking trade deals like the TPP through Congress. (Paul’s father, former Texas Congressman and presidential contender Ron, opposed many such agreements also, generally due to fears regarding American sovereignty and Constitution-related fast track concerns.)

The most interesting conversion, however, might be that of former Pennsylvania Senator Rick Santorum. As I’ve written, when he last sought the GOP nomination four years ago, Santorum was the only Republican who spoke seriously about the importance of strengthening American manufacturing. But he also upbraided his rival Mitt Romney for risking a “trade war” with China by supporting currency-related sanctions and generally during his years in both the House and Senate was a reliable “Aye” vote for new trade deals.

But this time around, Santorum is showing signs of recognizing that credibly championing manufacturing isn’t possible without opposing the trade policies that have done so much to weaken its production and employment levels – along with its innovation capacity.

I can imagine that many readers will respond by noting that many Republicans are so hostile to President Obama that they would naturally oppose enhancing his authority in any way – and doubly so since there’s such widespread anger regarding his other alleged unconstitutional power grabs. But Fiorina for one has also hit America’s poor record of monitoring and enforcing trade deal provisions against cheating-minded governments and noted that one of the most notorious – China – could be added to the TPP without any Congressional input. In addition, as I’ve previously noted, opposition to current trade deals has dovetailed with other major elements of Tea Party platforms and the movement’s values since its birth.

Yet despite the trade skepticism throughout the field in Campaign 2016 so far, polls keep showing that Americans have become more receptive to new agreements. Typical is one just released by the Pew Foundation. It finds that 58 percent of U.S. adults “say free trade agreements with other countries have been a good thing for the U.S., while 33% say they have been a bad thing.” Moreover, according to Pew, this level of support is ten percentage points higher than in 2011.

In what will be heartening news to GOP presidential trade skeptics, only 53 percent of avowed Republicans view trade deals so favorably – a majority, but a much lower share than for either Democrats or independents. Of course, by the same token, the results raise questions about the Democratic hopefuls’ so-far unanimous opposition to new agreements absent major changes.

Since primary voters – which comes from each party’s hard-core base – are more partisan and ideologically fervent than the electorate as a whole, it’s likely that for that reason alone, attacking current trade policies will remain a big feature of Election 2016’s first half, and that few candidates will send much time defending them. That’s essentially what labor unions and environmental groups want to hear from Democrats, and what movement conservatives want to hear from Republicans.

But the Pew findings themselves are odd in several respects that makes their political interpretation less obvious for the general election. For instance, the poll reported both substantial and growing overall agreement that free trade agreements have benefited the nation, and less impressive (43 percent) but still growing overall agreement that such trade deals have helped their personal finances. Yet it also shows that by 34 percent to 31 percent, the public believes that these deals have slowed rather than sped up economic growth. By 46 percent to 17 percent, respondents said that they have fostered job loss instead of job creation. And by 46 percent to 11 percent, that they have reduced rather than increased wages. Also noteworthy (especially given the personal finance result above), nearly as many Americans (30 percent) blamed free trade agreements for raising consumer prices as credited them with lowering them (36 percent).

I can think of many possible explanations for these apparently paradoxical results. All polls suffer from the tendency of respondents to tell researchers what they think the latter want to hear as opposed to what they actually believe. Further, Main Street Americans can’t be expected to understand fully how trade policy effects the economy, in part because the Mainstream Media does such a lousy reporting job on this front. At the same time, a case can also be made that the Pew survey underscores consumption’s dominant role in both the U.S. economy overall and on Americans’ economic priority scales. Why else would they be so keen on the agreements, while believing that they depress growth, employment, and wages? Unless most Americans don’t believe that trade deals really affect them much personally at all? Or that they themselves are reaping the benefits while largely escaping the costs?

So it’s anything but clear how trade issues will affect the next presidential election on net. But if they stay in the spotlight, as seems distinctly possible given that the TPP itself is still being negotiated, that itself would be a big change.