The Dispatch Podcast

Episode: The FCC’s Fight with Stephen Colbert
Date: February 20, 2026
Host: Steve Hayes
Panelists: Jonah Goldberg, David French, Megan McArdle

Episode Overview

This week, Steve Hayes convenes a roundtable with Jonah Goldberg, David French, and Megan McArdle to dissect three major topics in U.S. politics and culture:

• The FCC’s new enforcement of "equal time" rules, sparked by the pulled Stephen Colbert–James Talarico interview.
• The broader history and current state of government regulation of political speech and the Fairness Doctrine.
• The escalating U.S.–Iran military standoff and prospects of American action.
• A closing debate on the value of renewed human space exploration in the era of national debt.

The conversation is rich with legal insight, political cynicism, libertarian warnings, historical context, and personal anecdotes—providing a thorough, lively discussion on what is at stake for American democracy and culture.

FCC, Equal Time, and Stephen Colbert (02:24–29:19)

Background & Controversy

• The FCC issued new guidance narrowing the "bona fide news" exemption, which previously protected late-night and daytime talk shows from equal time rules. The decision is framed as addressing the alleged advantage given to Democrats on these programs.
• The controversy breaks open when Stephen Colbert’s CBS interview with Texas Senate candidate James Talarico is pulled, reportedly due to legal concerns—the interview is then published on YouTube, garnering more attention than usual.

Key Discussion Points

Outdated Regulations

• David French (04:06): Highlights the "dinosaur" status of these rules, designed when the government controlled the airwaves and there were few broadcast options.
  • "We're talking about a legal regime rooted in the idea that the government owns the airwaves...a dinosaur regulation that's rather complicated that generally isn't enforced."
• These rules, originally addressing a two-party system before cable and the internet, now only apply to a dwindling sliver of broadcasting.

Abuse of Power: From Kennedy to Trump

• Megan McArdle (06:33): Traces the bipartisan history of abuse: Kennedy’s administration targeted right-wing radio, now the Trump administration exploits the same powers.
  • "These were always bad rules. They were always prone to abuse, and we should never have had them in the first place."
• She stresses that unchecked government power is always vulnerable to abuse by both sides.
  • "The best safeguard against this is...curbing the powers that can be abused by the government."

Colbert, Streisand Effect, and Partisan Gamesmanship

• Jonah Goldberg (10:21): Suggests Colbert may have wanted to help Talarico or challenge CBS management, but regardless, the law is obsolete.
  • "This law is about owning airwaves and we don’t do airwaves in the same way. This law comes into being before television, nevermind primaries."
• The Colbert/Talarico interview gained more online views after being "suppressed," undermining the law’s intent.
• Steve Hayes (15:20): Emphasizes the cyclical risk: enforcement by one side will provoke payback when the other regains power.

Fairness Doctrine vs. Equal Time

• David French (15:53): Clarifies the Fairness Doctrine (applies to topics) and equal time (applies to candidates), underlining the risk of regulatory revenge.
  • "Is Trump the harbinger of a new style of American politics, or is he a turning point?"

The Case for Repeal

• All agree: These laws have outlived their usefulness, and the only consistent solution is to repeal them.
• Megan McArdle (18:54): Warns that belief in permanent control is a fallacy; sooner or later, powers created by one party are wielded against them.
  • "Every time you create a power, go, how could this be abused by my opponents? And is it worth that risk?"

Notable Quotes

• David French (04:06): "It's absolutely the most hostile to free speech administration in my lifetime."
• Megan McArdle (08:57): "We should never have had them in the first place. We should certainly get rid of them now."
• Jonah Goldberg (12:33): "Norm violations beget more norm violations."

Key Segment Timestamps

• [04:06] – David French on legal history and the present threat
• [06:33] – Megan McArdle on abuse and bipartisanship
• [09:54] – Jonah Goldberg: personal perspective, the law’s obsolescence
• [15:53] – David French on Fairness Doctrine vs. equal time

Escalating U.S.–Iran Tensions (29:19–50:45)

Situation Overview

U.S. military assets amass near Iran, potentially signaling imminent strikes in response to:

• Iran's reported massacre of protestors
• Longstanding American policy to prevent Iranian nuclear weapons

Panel’s Analysis

• David French (30:57): Mixed feelings—ample justification exists for strikes, but fears the lack of public discussion, planning, or clear objectives.
  • "There are reasons why striking Iran...would be in the American national interest right now. But...the execution really worries me."
• Jonah Goldberg (34:21): See’s a Trump "sweet spot"—dramatic, attention-seeking, impulsive decision-making—heightened by historical precedent.
  • "He gets to show great power, which is not his power, it's the United States power."
• Both cite the danger of acting without public buy-in or congressional approval, and the risk that a decapitation strategy will fail due to deep regime roots.
• Megan McArdle (39:02): Deep skepticism about end goals—America risks repeating Iraq errors if it acts without plans for Iran’s aftermath.
  • "I don't even understand what the end case is…in what scenario are Americans better off because this happened?"
• David French (43:18): Questions the notion of "regime alteration" over regime change and points to historical failures in intelligence and replacements (cites Venezuela and Iraq).
• Jonah Goldberg (47:26): Trump is unwilling or incapable of making a public, reasoned case for action—choosing instead to rely on emotion and tribalism.

Notable Quotes

• David French (30:57): "We have no public buy in, no real concept of what the real goals are here."
• Megan McArdle (39:02): "If you don't stabilize it, the whole country is going to fall apart into various ethnic-stands, in a similar way to what happened in Iraq."
• Jonah Goldberg (47:26): "He’s terrible at making the case for almost any of these things, but he’s great at agreeing with crowds who love hearing about it."

Key Segment Timestamps

• [30:57] – David French on justification and risks
• [34:21] – Goldberg reads administration motives
• [39:02] – McArdle’s skepticism on planning and aftermath
• [43:18] – French: Is regime alteration feasible?
• [47:26] – Goldberg on public persuasion and leadership

Not Worth Your Time: Should We Go Back to the Moon? (51:48–58:46)

The Debate

• With Artemis 2 set to send Americans around the moon for the first time in over 50 years, the panel debates the value of space exploration in a fiscally-constrained era.

Strong Affirmations

• Megan McArdle (51:48): Sees exploration as an essential part of humanity’s destiny; historical explorations seemed mad until they were essential.
  • "It would sure be nice to have some backup. That's why we should invest in spreading humanity beyond this single planet."
• David French (53:52): Space is a source of wonder and national purpose, and private innovation is pushing the frontier.
  • "This kind of looking at the stars and wanting to go...is part of the fundamental nature of who we are."
• Jonah Goldberg (55:49): Uses the "cathedrals in space" metaphor: Space inspires and motivates; basic science is a public good.
  • "You're putting more chips on the table, making bets that you're going to find some silver bullet new technology that...relieves man's estate."

Security and Practical Considerations

• Steve Hayes (58:46): Concedes, after years of fiscal skepticism, that space also has critical national security implications against adversaries like China and Russia.

Notable Quotes

• Megan McArdle (51:48): "We are vulnerable to things like asteroids or other natural disasters. And it would sure be nice to have some backup."
• Jonah Goldberg (55:49): "There are things that cultures have—the cathedrals in the Middle Ages...that are accessible to everybody that are inspiring."
• David French (53:52): "This is very much worth our time."

Timestamps

• [51:48] – Megan McArdle: the case for the moon as "the next step"
• [53:52] – David French: national and psychological value
• [55:49] – Jonah Goldberg: Cathedrals in space, science as a public good

Memorable Light Moments

• 13:38 – Megan jokes about Jonah eavesdropping on her grocery store muttering.
• 14:02 – Running gag about turning grocery mutterings into podcasts.
• 60:28 – Sci-fi references: “Skynet” and “The Moon is a Harsh Mistress.”

Takeaways

• FCC/equal time: Obsolete and vulnerable to abuse—should be repealed rather than toggled between parties for short-term gain.
• Iran: The risk of impulsive action, lack of strategy, and public buy-in may overshadow justifications for military intervention.
• Space exploration: Despite fiscal concerns, space retains practical, security, and inspirational value, potentially more than ever.

This episode is essential listening for anyone interested in the intersection of politics, policy, and culture, particularly on the enduring dangers of unchecked governmental power, the cyclical nature of partisan abuse, and the importance of foresight both in foreign policy and scientific exploration.