Podcast Summary: "Lawrence: Biden’s legacy will be ‘paying dividends’ for decades to come"

Overview

In the December 11, 2024 episode of The Last Word with Lawrence O’Donnell, host Lawrence O'Donnell delves into President Joe Biden's enduring legacy, emphasizing the significant policy achievements poised to influence the United States economy and infrastructure for decades. The episode features insightful discussions with Jared Bernstein, Chair of the White House Council of Economic Advisers, and newly appointed senators Adam Schiff and Lisa Blunt Rochester, providing a comprehensive analysis of Biden's impact and the future political landscape.

Biden's Legacy and Policy Achievements

Economic Growth and Job Creation

Lawrence O'Donnell highlights President Biden's impressive economic accomplishments, including the creation of over 16 million new jobs and achieving the lowest unemployment rate in 50 years ([07:51]). These achievements are attributed to Biden's commitment to evidence-based policymaking and his "middle-out, bottom-up" growth strategy, which contrasts sharply with previous administrations' top-down approaches.

Joe Biden ([07:51]): "From the crisis we inherited, we not only beat the pandemic, we broke from the economic orthodoxy that has failed this nation in my view for a long time."

Infrastructure Projects

One of Biden's standout achievements is the extensive infrastructure plan, exemplified by the construction of a new tunnel under the Hudson River connecting Manhattan and New Jersey. O'Donnell notes that while the tunnel will be completed after Biden's presidency, it symbolizes long-term investments set to benefit future generations ([10:04]).

Joe Biden ([11:14]): "We got infrastructure. For four years, nothing got built. Everybody said, when I wanted to have an infrastructure bill that mattered over a trillion, $300 billion, we never get it done. We got it done."

Chip Manufacturing and Supply Chain Resilience

Biden's Chips and Science Act is praised for revitalizing domestic semiconductor manufacturing, reducing reliance on overseas supply chains. This initiative aims to bring major chip companies back to the U.S., creating high-paying jobs and enhancing national security.

Joe Biden ([12:44]): "We knew in the beginning this wasn't going to come to fruition in my campaign. My administration takes time to get this done, but watch. 2, 4, 6, 8, 10 years from now will soon be the only economy in the world to have all five of the major chip companies operating in the United States of America."

Discussion on Confirmation Processes and Nominees

Pete Hegseth's Confirmation Challenges

The episode examines the stalled confirmation of Pete Hegseth, President Trump's nominee for Secretary of Defense. O'Donnell outlines the bipartisan resistance, noting that key Republican senators have withheld their support, effectively halting the nomination process ([24:06]).

Alex Wagner ([26:05]): "It's an easy yes or no question. She's not voting for Pete Hegseth, not as of tonight."

Adam Schiff's Transition to Senate

Adam Schiff, transitioning from the House of Representatives to the Senate, discusses his approach to confirmations and his stance on recently nominated individuals such as Tulsi Gabbard. Schiff expresses concerns over Gabbard's lack of intelligence experience and questionable judgments, advocating for thorough vetting processes.

Adam Schiff ([35:33]): "She’s shown terrible judgment in fawning over dictators like Bashar al Assad or echoing Kremlin talking points."

Lisa Blunt Rochester's Role and Views

As the first woman and person of color to represent Delaware in the Senate, Lisa Blunt Rochester shares insights on the current nomination landscape. She emphasizes the importance of character and competence in nominees and reflects on her recent trip to Angola with President Biden, highlighting the administration's commitment to international relations and infrastructure projects abroad.

Lisa Blunt Rochester ([39:55]): "I think there is a lot of concern about some of the folks that are being put forward. But we also know we have a responsibility to make sure that they're properly vetted."

Guests' Insights

Jared Bernstein on Economic Policies

Jared Bernstein commends Biden's "middle-out, bottom-up" economic strategy, noting its effectiveness in job creation and economic stabilization. He underscores the significance of bipartisan support for ongoing and future infrastructural investments, predicting substantial long-term benefits.

Jared Bernstein ([17:28]): "We delivered immediate economic relief to those most in need... planting the seeds of transformational investments in the US Economy."

Adam Schiff on Nominations Like Tulsi Gabbard

Schiff critiques Tulsi Gabbard's qualifications for the director of National Intelligence, citing her limited experience and questionable alliances. He advocates for rigorous background checks to ensure nominees are well-suited for their roles.

Adam Schiff ([35:08]): "She's never served on the Intelligence Committee, never served within the community itself... One of them is she has a complete lack of experience in intelligence matters."

Lisa Blunt Rochester on Confirmations and Trip to Angola

Blunt Rochester discusses her role in the confirmation process and the importance of bipartisan support for nominees. She recounts her experience in Angola, emphasizing the symbolic and practical outcomes of Biden's international infrastructure initiatives, such as new railway projects.

Lisa Blunt Rochester ([44:34]): "It was important for President Biden to be there to acknowledge the atrocities that both countries shared... as we move forward, we wanted to make sure we had that relationship."

Conclusions on Biden's Legacy and Future Impact

Lawrence O'Donnell concludes that President Biden's policy initiatives, particularly in economic growth, infrastructure, and domestic manufacturing, are set to provide enduring benefits to the American populace. The administration's focus on evidence-based policymaking and inclusive growth is presented as a blueprint for sustained national prosperity, with investments made today expected to "pay dividends" for decades to come.

Lawrence O'Donnell ([08:50]): "It was a legacy that will be paying dividends for decades to come."

Notable Quotes

• Joe Biden on Infrastructure ([10:04]): "To compete with the rest of the world, we need a massive investment in infrastructure."

• Jared Bernstein on Economic Strategy ([17:28]): "Middle out, bottom up growth is the key to a sustainable and productive economy."

• Adam Schiff on Tulsi Gabbard ([35:33]): "She’s shown terrible judgment in fawning over dictators like Bashar al Assad or echoing Kremlin talking points."

• Lisa Blunt Rochester on Confirmations ([42:27]): "There is a lot of concern about some of the folks that are being put forward, but we have a responsibility to make sure that they're properly vetted."

Conclusion

This episode of The Last Word presents a thorough analysis of President Biden's legacy, highlighting substantial policy achievements and their anticipated long-term impact. Through interviews with prominent figures, the discussion underscores the administration's commitment to sustainable economic growth, robust infrastructure, and meticulous confirmation processes, positioning Biden's tenure as a transformative period with lasting benefits for the United States.