Episode Overview

Title: Prez Day Encore: How Neoliberals Paved the Way for MAGA (G&R 465)
Podcast: Green & Red: Podcasts for Scrappy Radicals
Hosts: Bob Buzzanco (History Professor) & Scott Parkin (Climate Organizer)
Date: February 16, 2026

Main Theme:
In this President's Day episode, Bob and Scott trace the recent history of the U.S. presidency, unpacking how decades of neoliberal policies—championed by both Democratic and Republican leaders—laid the groundwork for the rise of Trump, MAGA, and the ascendance of billionaire powerbrokers like Elon Musk. The conversation connects post-Cold War economic shifts, bipartisan push for deregulation and free trade, the dismantling of the welfare state, military adventurism, and the transformation of American political culture.

Key Discussion Points & Insights

1. From Nixon to Trump: Expanding Presidential Power (03:12 – 05:47)

• Imperial Presidency: The episode kicks off by contrasting Nixon—criticized by liberals for overreaching executive power (“imperial presidency”)—with Trump, whose use of executive orders and court-sanctioned authority surpasses even Nixon’s excesses.
• Lack of Consequences: Bob notes, “Fast forward to... the Trump years, right, when this guy can literally incite a violent riot inside the Capitol and nothing happens to him.” (03:27)
• Democratic Weakness: The hosts argue that Democratic “fecklessness” and “performative resistance” have enabled this unprecedented executive overreach. (07:27)

2. Neoliberalism Comes of Age: From Carter to Clinton (05:47 – 16:54)

• Rightward Shift of Democrats: The move began as early as the Carter administration, with accelerating momentum in the Clinton era as Democrats joined Republicans in endorsing free-market policies, deregulation, and “seeking free market solutions.” (05:47)
• Break from the New Deal: Clinton’s administration is highlighted for embracing and amplifying Reaganite policies: “If you didn't list Bill Clinton's name and party affiliation... it would seem very consistent with everything that had been going on before that. You wouldn't say, oh, that's a liberal Democrat doing that.” (14:39)
• Key Policies: NAFTA, financial deregulation (repeal of Glass-Steagall), crime and welfare “reforms”—all seen as pivotal in dismantling FDR-Johnson era social programs and inflating corporate and billionaire wealth.

3. Globalization, NAFTA, and Working-Class Betrayal (10:12 – 13:59)

• Clinton and Trade: NAFTA is identified as “one of the key parts of the neoliberal project," directly undermining labor and the welfare state. (10:12)
• Trump’s Opportunity: Trump’s opposition to trade deals like NAFTA allowed him to capitalize on working-class anger: “I would argue that the opposition to NAFTA and globalization in 2016 probably got him the White House.” (13:38)

4. The Rise of Silicon Valley and New Elites (20:22 – 21:23)

• Tech Industry’s Political Ascent: The episode details how Clinton-era Democrats cultivated Silicon Valley, which became “an ATM for the Democratic Party.” This relationship has since shifted, especially under Trump.
• Billionaire Beneficiaries: The deregulation and financial consolidation of the 1990s led directly to today's billionaire class—including Musk, Thiel, and others—who benefited from government contracts and a political system skewed towards wealth accumulation.

5. Bush, Obama, and the Permanent War Economy (22:09 – 45:57)

• Bush-Cheney Era: Bush is criticized for continuing trade liberalization and deregulation, helping inflate the housing bubble and laying groundwork for the 2008 crash. The “forever wars” and post-9/11 national security buildup are seen as bipartisan projects, as well as a mechanism to transfer public money to private interests.
• Obama’s Neoliberal Continuity:
  • Wall Street Bailouts: The hosts emphasize that Obama chose to support banks over homeowners after 2008: “He went to Goldman Sachs and he said... I’m the only thing standing between you and the pitchforks.” (41:26)
  • Affordable Care Act: Characterized as a neoliberal solution—government-mandating private insurance—rather than true public welfare.
  • Loss of Democratic State Power: “Over a thousand Democratic elected office holders lost their office during the Obama years.” (44:20)
  • Progressive Disillusionment: Repeated failure of the Democrats to champion majority-supported issues, repeated “caving” to centrism, and the active destruction of internal progressive alternatives.

6. The Billionaire Class and the End of the Middle Class (51:06 – 53:20)

• Exploding Inequality: The hosts cite data: in 1990, the U.S. had 66 billionaires, by 2023, 748; globally, the billionaire class gained $2 trillion in wealth last year, as working class precarity increased.
• Both Parties Complicit: Both Democrats and Republicans, through fundraising and policy, are seen as tools of billionaire and corporate interests.

7. Trump, Post-Neoliberalism, and the New Right (56:12 – End)

• Trump as Post-Neoliberal “Revanchist”: The hosts argue that Trump is not truly a neoliberal: “He believes in power and money and wealth and all that kind of stuff, but he’s doing it different... I think we’re moving into something almost revanchist, backward in time.” (59:10)
• New Oligarchs and “Lumpen Oligarchs”: Trump’s base of support from extractive industries (coal, gambling, hotels) is contrasted with earlier financial elites.
• Genocide Resorts & Historical Amnesia: The episode ends with a sharp critique of both parties’ support for Israel, and a connection between capitalist profiteering and normalized violence, referencing parallels from Bali to Gaza.

Notable Quotes & Memorable Moments

• On Clinton’s right turn:
  “If you didn’t list Bill Clinton’s name and party affiliation... it would seem very consistent with everything that had been going on before that.” (14:39 | Bob)

• On NAFTA and Trump’s 2016 victory:
  “I would argue that the opposition to NAFTA and globalization in 2016 probably got him the White House. I think that was more important than anything else.” (13:38 | Bob)

• On neoliberal legacy:
  “The last time America had a balanced budget was in the final years of Bill Clinton. No one’s ever given a damn about deficits or any of that. They spend as much money as they can, especially on the military.” (22:05 | Bob)

• On Democratic Party decline:
  “Over a thousand Democratic elected office holders lost their office during the Obama years.” (44:20 | Scott)

• On Obama’s priorities post-crash:
  “I’m the only thing standing between you and the pitchforks.” (41:26 | Recalling Obama to Wall Street)

• On the billionaire explosion:
  “In the United States in 1990, there were 66 billionaires, whereas by 2023 there were 748…This growth of wealth and equity is the result of Clinton, Bush, Obama policies of free trade, of deregulation, of cultivating and helping build up the Silicon Valley, all of that.” (51:06 | Scott)

• On Trump’s ideology:
  “I still don’t see him as a fascist though, because fascists like control the state...Trump is just in it for Trump. All he wants to do is increase his own investments.” (56:29 | Bob)

• On Democratic performative resistance:
  “What was it last week? Several Democrats went…They symbolically stood in the doorway, they weren’t allowed in, and they made a big show — look at what we’re doing. We’re fighting them. They raised money off of it and then they left.” (09:00 | Bob)

Timeline of Major Segments

• 00:36 – 07:27: Overview—How neoliberalism paved the way for Trump/MAGA, intro to shifts since Carter.
• 07:27 – 10:12: Clinton and the decisive Democratic rightward turn, beginning of bipartisan neoliberal consensus.
• 10:12 – 13:59: NAFTA, the betrayal of the working class, and emergence of Trump’s anti-globalization rhetoric.
• 16:21 – 21:23: The rise of Silicon Valley wealth, financial deregulation, and tech’s alignment with Democrats then Trump.
• 22:09 – 25:26: The Bush years, deregulation, the War on Terror, “forever wars,” and the context for Obama.
• 34:38 – 45:57: The 2008 financial crash, Obama’s bank bailouts, loss of Democratic state and local power.
• 51:06 – 56:02: Billionaire explosion, both parties’ service to the ultra-wealthy, and campaign finance realities.
• 56:12 – End: Trump as post-neoliberal, anti-institutionalist, and his unique ideology; ending on Israel/Gaza, “genocide resorts,” and summary reflections.

Tone & Style

Throughout, Bob and Scott maintain a “scrappy,” irreverent, and radical tone—critical of both major parties, direct in their language, frequently sardonic, and deeply attuned to historical context and economic analysis.

For Further Reading & Recommendations

• Books/Projects Mentioned:
  • Confidence Men by Ron Suskind
  • A Crisis Wasted by Reid Hunt
  • All the President’s Bankers by Nomi Prins
  • Brown University “Cost of War” Project

Conclusion

This episode fiercely debunks the myth that Trump emerged as an outlier; instead, he’s the outcome of decades of bipartisan neoliberalism that dismantled labor, empowered the billionaire class, and restructured American political life around privatization, war, and the cult of executive power. With wit, historical insight, and left critique, Bob and Scott challenge listeners to scrutinize the full arc from Carter to Clinton to Obama—and beyond.