Barack Obama Pt. 3

Aired:  10/27/10 Views: 531,996

Barack Obama says changing the legislative process and reducing the power of special interests is a work in progress. (9:22)

YOU EXPRESSED SOME FRUSTRATION

WITH THOSE ON THE LEFT THAT ARE

STILL FEELING DISSATISFIED.

DO YOU THINK IN ANY WAY THE

EXPECTATION WAS SOMETHING THAT

MAYBE EVEN YOU AND YOUR CAMPAIGN

CREATED?

WERE PEOPLE BEING NAIVE... I

REMEMBER VERY CLEARLY YOU SAID,

WE CAN'T EXPECT DIFFERENT

RESULTS WITH THE SAME PEOPLE.

>> RIGHT.

>> Jon: AND I REMEMBER WHEN

YOU HIRED LARRY SOMERS.

( LAUGHTER )

I REMEMBER THINKING, WELL, THAT

SEEMS LIKE THE EXACT SAME

PERSON.

( LAUGHTER )

>> NO, NO, NO.

>> Jon: AND WHY WOULD YOU...

SO IN SOME RESPECTS I GET YOUR

FRUSTRATION WITH THIS IDEA THAT,

WELL, GEEZ, ARE YOU NEVER

SATISFIED, BUT AGAIN, THE

EXPECTATION I THINK WAS

AUDACITY, GOING IN THERE AND

REALLY ROOTING OUT A CORRUPT

SYSTEM, AND SO THE SENSE IS, HAS

REALITY OF WHAT HIT YOU IN THE

FACE WHEN YOU FIRST STEPPED IN

CAUSED YOU TO BACK DOWN FROM

SOME OF THE MORE VISIONARY, LIKE

BRINGING IN A GUY LIKE LARRY

SOMERS.

>> FIRST OF ALL, IF YOU LOOK AT

HOW WE HAVE HANDLED THIS

FINANCIAL CRISIS.

>> Jon: RIGHT.

>> IF YOU HAD TOLD ME TWO YEARS

AGO THAT WE'RE GOING TO BE ABLE

TO STABILIZE THE SYSTEM,

STABILIZE THE STOCK MARKET,

STABILIZE THE ECONOMY AND, BY

THE WAY, AT THE END OF THIS

THING, IT WILL COST LESS THAN 1%

OF G.D.P. WHERE THE SN L COST US

2.5%, I'D SAY I'LL TAKE IT

BECAUSE WE SAVED TAXPAYERS A

HECK OF A LOT OF MONEY.

IN FAIRNESS, LARRY SUMMERS DID A

HECK OF A JOB TRYING TO FIGURE

OUT HOW TO...

>> Jon: YOU DON'T WANT TO USE

THAT PHRASE, DUDE.

>> PUN INTENDED.

>> Jon: ALL RIGHT.

>> LARRY WAS INTEGRAL IN HELPING

TO THINK THROUGH SOME REALLY

COMPLICATED STUFF.

NOW, THE NOTION IS I THINK THAT

SOMEHOW MANAGING A CRISIS OF

THIS MAGNITUDE IS A MATTER OF

BLACK AND WHITE AND YOU GOT SOME

CLEAR DECISIONS THAT YOU CAN

MAKE, AND HERE'S HOW YOU CAN DO

IT, SHUT DOWN THESE BANKS AND

PUSH THIS STUFF ASIDE AND

SOMEHOW IT'S ALL GOING TO BE

RIGHT.

IT TURNS OUT THAT AT EVERY

JUNCTURE WHERE WE'RE MAKING

DECISIONS, WE'VE GOT TO MAKE

SOME CALCULATIONS.

IF YOU SHUT DOWN THIS BANK, DOES

THAT MEAN THAT YOU'RE GOING TO

HAVE A CASCADE OF 100 OTHER

BANKS THAT ARE GOING TO BE SHUT

DOWN?

DOES THAT MEAN THAT THE

TAXPAYERS SUDDENLY HAVE TO PAY

FOR ALL THAT?

IS THAT GOING TO COST MORE

TAXPAYER MONEY?

A LOT OF THE DEBATES ARE TAKING

PLACE IN TERMS OF FINANCIAL

REGULATORY REFORM, IN TERMS OF

HOW TO STABILIZE THE FINANCIAL

SYSTEM WERE ONES THAT REQUIRED

SOME EXPERTISE AND LARRY HELPED

TO PROVIDE THAT.

NOW, HAVING SAID THAT.

>> Jon: YEAH.

( LAUGHTER )

>> I APPRECIATE YOU.

>> Jon: IT'S SO HARD NOT TO

TALK.

( LAUGHTER )

>> I KNOW.

>> Jon: ASK YOU JUST ONE

QUICK... IF THEY TOLD YOU THE

SAME THING, STABLETIZE BANKS,

STABILIZE THE DOW, UNEMPLOYMENT

IS NEAR 10%, WOULD YOU HAVE TAKE

THAN DEAL?

>> YOU KNOW, IF I HAD THE

CAPACITY TO HAVE PREVENTED THE

UNEMPLOYMENT THAT HAPPENED

BASICALLY BEFORE WE PUT OUR

ECONOMIC PLAN INTO PLACE,

OBVIOUSLY WE WOULD HAVE DONE

THAT.

BUT THE PROBLEM WAS WE LOST FOUR

MILLION JOBS BEFORE I WAS SWORN

IN, 750,000 JOBS THE MONTH I WAS

SWORN IN, 600,000 THE MONTH

AFTER THAT, 600,000 THE MONTH

AFTER THIS.

SO MOST OF THE JOCKS WE LOST

WERE LOST BEFORE THE ECONOMIC

POLICIES WE PUT INTO PLACE HAD

ANY EFFECT.

( CHEERS AND APPLAUSE )

BUT I WANT TO GO BACK TO YOUR

EARLIER POINT, WHICH IS THIS

NOTION THAT, YOU KNOW, FOLKS I

THINK HOPE THAT WE COULD

COMPLETELY TRANSFORM WASHINGTON.

>> Jon: UH-HUH.

>> I UNDERSTAND THAT IMPULSE.

THERE ARE SOME VERY GOOD PEOPLE

HERE, SOME GOOD PUBLICER IS

VANTDS WHO WORK VERY HARD.

THERE ARE SOME FOLKS WHO ARE NOT

SO GOOD.

AND THE CULTURE HERE IS NOT

ALWAYS REAL HEALTHY.

AND WE'RE GOING TO HAVE TO...

STUFF OVER THERE.

YEAH.

>> AND SO BRINGING ABOUT CHANGE

IN TERMS OF HOW THE LEGISLATIVE

PROCESS OPERATES, IN TERMS OF

THE POWER THAT LOBBYISTS HAVE,

THE POWER THAT SPECIAL INTERESTS

HAVE, YOU KNOW, THAT IS A WORK

IN PROGRESS.

IT'S JUST NOT GOING TO HAPPEN

OVERNIGHT, BUT I DON'T REGRET

DURING THE CAMPAIGN HAVING SAID

THAT WE CAN CHANGE THAT PROCESS,

WE CAN MAKE IT MORE TRANSPARENT.

IT'S NOT GOING TO BE IDEAL.

WE CAN REDUCE THE POWER OF

SPECIAL INTERESTS, ALTHOUGH

SPECIAL INTERESTS ARE STILL

GOING TO HAVE POWER IN A

DEMOCRACY.

THEY'RE GOING TO BE ABLE TO

PETITION THEIR GOVERNMENT LIKE

EVERYBODY ELSE, AND THEY'VE GOT

A LOT OF LOBBYISTS AND A LOT OF

CASH TO DO IT.

BUT WE CAN LIMIT THE AMOUNT OF

POWER THAT WE HAVE.

WE CAN MAKE SURE THAT AS A WHITE

HOUSE WE ARE MORE OPEN THAN

PREVIOUS WHITE HOUSES.

YOU KNOW, THERE ARE FOLKS I'M

SURE WHO DON'T THINK WE'VE

ACHIEVED THE IDEAL.

SO I GUESS ON ALL THESE ISSUES,

MY ATTITUDE IS IF WE'RE MAKING

PROGRESS, STEP BY STEP, INCH BY

INCH, DAY BY DAY, THAT WE ARE

BEING TRUE TO THE SPIRIT OF THAT

CAMPAIGN, AND...

>> Jon: SO YOU WOULDN'T SAY

YOU'D RUN THIS TIME AS A

PRAGMATIST.

YOU WOULD NOT.

IT WOULD BE YES, WE CAN, GIVEN

CERTAIN CONDITIONS.

>> I THINK WHAT I WOULD SAY IS,

YES, WE CAN, BUT...

( LAUGHTER )

BUT IT'S NOT GOING TO HAPPEN

OVERNIGHT.

>> Jon: YOU STILL BELIEVE

GOVERNMENT IS NIMBLE ENOUGH TO

HANDLE THESE 21st CENTURY

CRISES?

IS GOVERNMENT AGILE ENOUGH TO

HANDLE... YOU KNOW, YOU SAID WE

WANT TO BUILD A 21st CENTURY

REGULATORY REGIME FOR BUSINESS.

BY THE TIME GOVERNMENT BUILDS

THAT, OBVIOUSLY IT WILL BE THE

22nd CENTURY, BUT WON'T THEY

HAVE ALREADY STARTED TRADING

MOLECULES IN SOME SORT OF WEIRD,

YOU KNOW?

DOES GOVERNMENT STILL HAVE THE

ABILITY TO BE AGILE ENOUGH TO

HANDLE THESE TYPES OF THINGS?

>> I THINK IT'S A LEGITIMATE

QUESTION.

I WILL TELL YOU THAT THERE ARE A

COUPLE OF THINGS THAT HAVE

CHANGED IN OUR POLITICS THAT ARE

GOING TO HAVE TO BE FIXED.

ONE IS THE WAY THE FILIBUSTER

OPERATES.

I MEAN, AS I SAID, THAT'S JUST

NOT IN THE CONSTITUTION.

( CHEERS AND APPLAUSE )

IN FAIRNESS, IN FAIRNESS,

DEMOCRATS USE IT WHEN BUSH WAS

IN OFFICE AND FELT VERY

COMFORTABLE USING IT, ALTHOUGH

NOT TO THE EXTENT IT'S BEEN USED

TODAY.

WHAT WE'VE BEEN SEEING IS

UNPRECEDENTED.

AND THAT MAKES IT VERY DIFFICULT

FOR US TO MOVE FORWARD IN

SERIOUS WAYS AND ACTUALLY

REDUCES COMPROMISE BECAUSE WHAT

ENDS UP HAPPENING IS THAT IF

REPUBLICANS KNOW THAT THEY CAN

BLOCK ANYTHING BECAUSE WE DON'T

HAVE 60 VOTES, THEN THEY FEEL NO

NEED TO COMPROMISE.

THAT MEANS THE DEMOCRATS THEN,

THEIR ATTITUDE IS, WELL, WE'RE

NOT GOING TO COMPROMISE.

WE CAN'T GET 60 VOTES AND

EVERYBODY MOVES IN OPPOSITE

DIRECTIONS.

THE SAME THING IS TRUE I THINK

WHEN IT COMES TO HOW OUR

DISTRICTS ARE DRAWN.

YOU KNOW, WE'VE GOT A LOT OF

DISTRICTS THESE DAYS THAT ARE SO

SAFE, 90% DEMOCRAT, 90%

REPUBLICAN, THAT THAT ALSO HELPS

TO POLARIZE THE ELECTORATE.

SO THERE ARE A COUPLE OF THINGS

THAT ARE STRUCTURAL THAT ARE

PROBABLY GOING TO NEED TO BE

CHANGED.

BUT HAVING SAID ALL, THAT WE

HAVE MADE A LOT OF PROGRESS OVER

THE LAST 18 MONTHS THAT FROM AN

HISTORICAL PERSPECTIVE, YOU

KNOW, RANKS UP THERE WITH ANY

LEGISLATIVE SESSION WE'VE SEEN

IN HISTORY.

AND WE'RE GOING TO HAVE TO

CONTINUE TO MAKE SOME PROGRESS

ON THINGS LIKE ENERGY, WHICH

DIDN'T GET DONE, ON IMMIGRATION

REFORM.

THAT DID NOT GET DONE.

AND MOST IMPORTANTLY WE JUST GOT

TO DO A LOT MORE WORK IN TERMS

OF GENERATING THE KIND OF JOBS

THAT IN SHORT WE'VE GOT A

GROWING MIDDLE CLASS AND THAT

PEOPLE ARE ABLE TO LIVE OUT THE

AMERICAN DREAM BECAUSE RIGHT NOW

I THINK THERE ARE A LOT OF FOLKS

WHO ARE WORRIED THAT IF WE DON'T

MAKE SERIOUS INVESTMENTS IN

EDUCATION, IN ENERGY, IN

INFRASTRUCTURE, IN RESEARCH AND

DEVELOPMENT, THAT WE'RE GOING TO

START FALLING BEHIND.

>> Jon: WELL, I THANK YOU FOR

BEING HERE.

THANK YOU FOR TAKING THE TIME.

I KNOW YOU'RE A VERY BUSY MAN.

YOU'VE GOT LOTS TO DO.

>> JON, I APPRECIATE THIS.

THE ONE OTHER THING THAT MIGHT

HAVE MADE A DIFFERENCE, IF YOU

HAD HELD A RALLY TO RESTORE

SANITY TWO YEARS AGO.

( CHEERS AND APPLAUSE )

THAT WOULD BE... THAT MIGHT HAVE

MADE A DIFFERENCE.

BUT I ENJOYED IT.

CAN I JUST MAKE A PLUG JUST TO

VOTE?

MAKE SURE YOU VOTE.

( CHEERS AND APPLAUSE )

>> Jon: I DIDN'T KNOW WHAT YOU

WERE GOING FOR.

WHEN YOU SAID, "CAN I JUST MAKE

A PLUG," I WAS LIKE, ARE YOU

DROPPING AN ALBUM?

WHAT'S HAPPENING THERE.

>> GO OUT THERE AND VOTE

NOVEMBER 2nd.

A LOT OF YOU HAVE EARLY VOTING

IN YOUR STATES.

MAKE SURE TO MAKE USE OF IT.

[HAIL TO THE CHIEF

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