Excerpts
JIM LEHRER (Editor, Newshour): Finally tonight, the analysis of Shields and Brooks, syndicated columnist Mark Shields, New York Times columnist David Brooks.
David, what do you make of the president's reaching out to the business community, today and earlier?
DAVID BROOKS: It's beginning to work. I mean, if you look at his poll numbers, they're rising. And they're rising among two groups: moderate Republicans and independents.
And actually if you look at the approval rating of Congress and approval rating of the Republicans in Congress, that is beginning to go down. So, the first thing to be said is this -- politically, he sees the momentum.
Now, economically, it's obviously a tougher road. He's got a high degree of skepticism among the business community. But he's -- I think he's begun to chip into that. A lot of the skepticism -- and I would talk to a lot of CEOs who just loathed Obama, and who didn't used to, a lot who voted for him. And a lot of it was just rhetorical. They didn't like being called fat cats.
And he's sort of scaled that back. He's had a few meetings where he hasn't screamed at them. They like that. There's been a -- this gesture in The Wall Street Journal, a piece that he wrote saying we're going to look at the costs and benefits of regulation -- and that's being run by Cass Sunstein, who really could put some meat on that substance -- and the free-trade bill. There's a whole series of things.
And so it's -- he's seized the political center a bit and really begun to shift and made people in the business community feel better. So it is -- who would have thought three months ago he would have the momentum right now and the Republicans would be a little back on their heels? But it's happening.
JIM LEHRER: It's happened, the momentum back on...
MARK SHIELDS: Yes, I don't -- I don't get as much out of it as David does. I mean, I think it's been mostly public relations at this point.
I mean, when the president of the United States says in Schenectady today that he picked Jeffrey Immelt because -- quote -- "he is not one of the Washington crowd," I mean, that just -- that rings...
That is not authentic. I'm sorry. It is not authentic, when a Democratic president tries to run against Washington and tries to run against the government.
JIM LEHRER: ... the CEO of General Electric.
DAVID BROOKS: Yes ... selling apples on the corner.
MARK SHIELDS: In the third quarter of 2010, corporate profits in the United States reached an all-time high.
The Standard & Poor 500 is up 50 percent since Barack Obama has been president of the United States. I mean it isn't like these people are hurting. Two-thirds of all the wealth created has gone to the top 1 percent. I mean it isn't like he has been Robin Hood and holding them up. They are doing pretty damn well.
I think it's a matter of necessity on his part. I mean, what he did do was extend the tax cuts. That wasn't a matter of choice, but that was certainly their preference.
JIM LEHRER: That was pushed on him by the new -- the new Republicans, yes.
MARK SHIELDS: By the realities of politics...
JIM LEHRER: Sure.
MARK SHIELDS: ... and both Democrats and Republicans, I would say, in this case.
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DAVID BROOKS: ...But, you know, the proof will be in the pudding, how much of the regulatory reform really is done. And, to me, the big challenge -- and this is really leading into the State of the Union -- clearly, there has been an emphasis on growth and competitiveness, international competitiveness. That's now what they are talking about with some of the Obama people.
Before, you were talking to them about what you're doing.
JIM LEHRER: Sure.
DAVID BROOKS: It was about health care and all that. Now it's about growth. We're just going to grow, grow, grow, grow.
And so that is good music to people's ears. But to me, the central tension there is, it growth trying to gin up some jobs are for 2012, job creation over the next few months, or is it long-term fundamental growth, doing the things like scientific research, infrastructure spending, education reform, which will yield no benefits by 2012 but may by 2020 or 2030?
And, to me, those are two separate subjects. And one of the things I'm curious about is when they're talking about growth, which growth are they talking about?
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JIM LEHRER: Where does, if at all, does the China summit fit in to this? Is this part of the new glow for Barack Obama? Do you think it deserves a glow?
MARK SHIELDS: I think it worked symbolically for him. I'm not sure of the substantive changes, whether they were -- certainly, they weren't earth-shattering.
But there were concessions, at least verbal. But that is not the first time we have had that from the Chinese in the past, the acknowledgment that they have a human-rights problem, even though it was blanked out for Chinese consumption, and the acknowledgment that there was a responsibility in North Korea and that North Korea was a problem, and again, the statements on intellectual property.
I mean, when Microsoft reports that one out of 10 Microsoft products that ends up in China in use is paid for, nine out of 10 are pirated, you know, that's -- I mean, that's really international banditry on their part. And it's -- it's continued.
But, you know, I think the president handled himself well. He does -- he does that very well. I don't know...
JIM LEHRER: David, what did you think of the summit?
DAVID BROOKS: I was most impressed by the level of self-criticism by the Obama administration and correction. And that's really the story on economics, but also the story on China policy.
I think there is a widespread recognition that they came into the White House, into power saying we have got to engage China. We are going to open up to them. We are going to talk to them. And this was perceived as weakness by the Chinese. And they began to walk over the Obama administration.
And they also began to think this openness was a sign that Americans knew their power was in decline and were being more gentle. And, therefore, it was necessary to shift, do some openness and engagement but also do some toughness, and sort of strike that balance.
And a lot of the China watchers that I spoke to thought they struck that balance quite well. And so that's a sign that they are willing to say, OK, we have sort of got this wrong. Let's adjust.
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(on healthcare)
DAVID BROOKS: It is true that the Republicans have not decided -- have not asked for any painful stuff, like Medicare cuts, the way Obama to his credit did.
But they do have a theory about how to control costs. And that theory is to define the benefits that the government is going to pay out and have a real, competitive marketplace where consumers can see what they're paying and what they're getting. And, therefore, you could have normal market competition.
So there is a theory there. How much they actually try to get that system into place will be determined by these committee hearings.
JIM LEHRER: A few seconds.
MARK SHIELDS: I mean, I wait for that.
I mean, I have seen -- I have seen -- this debate has gone on now in this country 50 years. And there was a Republican plan in 1993. It was Bob Dole's and John Chafee of Rhode Island. And it essentially transformed into the Romney plan in Massachusetts and the Obama plan in Washington. The Democrats embraced that Republican plan of 1993. And Republicans in the Congress have just walked away from it.
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