REICH: I don’t think you can separate economic security from national security.This is why I find John McCain’s position so interesting, because he wants to and needs to separate himself from Bush, a failed presidency, particularly if you look at the polls.And yet, on Iraq and on the economy, he is going beyond what George Bush has done.I mean, his tax cuts are beyond anything that –particularly for the wealthy—beyond anything that George Bush has proposed or did implement.
WILL:But Bob, today we have a bifurcated economy.The export sector is doing wonderfully, it’s pulling the country along, and the Democratic Party is raising doubts about its commitment—indeed, it’s affirming its lack of commitment—to free trade.
Now it is true that I think there is a disjunction in the public mind without precedent in 200 years of American history.We’ve always assumed that the very process—the dynamic market capitalism—produces increased national wealth simultaneously produced increased family and individual security.Now the doubt is that today’s capitalism on steroids, if you will, globalized capitalism increases national wealth, but undermines family and individual security which will produce a great flinch from free economics.
REICH: That’s exactly the point.That’s exactly the problem, George.Americans now have lost their faith in free trade; they’ve lost their faith in economic growth because they haven’t seen the benefits of it. It’s all gone to the top. That’s why Obama’s tax cuts for the middle class and for the poor are so critical for this campaign.
WILL: Because friends like you are misinforming the country by saying that they have not seen benefits.Even housing, Bob, housing today after the big decline, the average American house is worth a third more than it was in 2000.
REICH:George Will, you tell average Americans that they are better off today than they were in 2000-2001…