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Don't want to miss out on the latest in politics? Start each day with The Post Politics Hour. Join in each weekday morning at 11 a.m. as a member of The Washington Post's team of White House and congressional reporters answers questions about the latest in buzz in Washington and The Post's coverage of political news.

Washington Post national political reporter Perry Bacon Jr. was online Wednesday, March 25, at 11 a.m. ET to discuss Treasury Secretary Timothy Geithner's request for broader regulatory power, President Obama's reachout to the world for economic cooperation and all the rest of the latest news from Capitol Hill to the White House.

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Archive: Post Politics Hour discussion transcripts

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Perry Bacon Jr.: Good morning. Looking forward to the chat. I"m Perry, one of the Post's political reporters.

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Anonymous: I don't remember the size of the budget deficit being debated so intensely over the past few years. Sure, people were in theory against deficits, but tax cuts were seen as more important than lessening the deficit and, in fact, there were some who saw no link between reduced revenue and higher deficits (just a connection between higher spending and higher deficits). We even had tax cuts while funding two wars. What changed?

Perry Bacon Jr.: I think there was bi-partisan criticism of the increase in the deficit during the Bush years and Obama is taking similar criticism. Bush essentially said tax cuts to help the economy and more security funding were more important than lowering the deficit; Obama's budget in effect says spending on health care, energy and other priorities along with helping the economy are bigger priorities than the deficit.

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Boston, Mass.: Okay Perry, I am day early, but the 25th is my birthday. How is CNN's Ed Henry feeling today? I have never seen a reporter get such a public smackdown from a president before. Maybe a hair too harsh, but it might get folks to craft better questions too.

washingtonpost.com: President Obama smacks down Ed Henry at 3/24/09 Press Conference on AIG Bonuses (YouTube)

Perry Bacon Jr.: I thought Ed Henry's question was a very good one actually. Obama chose to answer it somewhat dismissively, but i thought a totally appropriate question. I haven't talked to Ed today, but he's a great reporter and I"m sure doing just fine.

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Richmond, Va.: Are there any Democrats leading any "enough is enough!" Taxes. Runaway deficits. Extreme powers at the Treasury. Etc. We certainly expect the Republicans to be making noise, but are there any key Dems?

Perry Bacon Jr.: I think Kent Conrad of North Dakota is leading a bunch of Democrats who are trying to trim Obama's budget. Maxine Waters and others are raising concerns about the Treasury Department's moves. I think Obama is getting plenty of critiques from fellow Dems.

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Pain and suffering: What's up with Chuck Todd apparently thinking Americans haven't suffered enough?

Perry Bacon Jr.: I thought Chuck was getting at the question of should Americans make any sacrifices in a time of national need. He was getting at the notion that after 9/11, President Bush talked about getting Americans to shop more, but perhaps didn't turn that into a moment of getting Americans to serve more or use it for a broader purpose. Chuck was trying to get at what Obama's vision for how Americans should view this moment.

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NY, NY: Because of the demonization of bonuses by almost everyone in politics, people have begun to quit AIG. The NYT today has a great letter from someone who was sick of being demonized for something that was not his fault. I'm concerned that democrats are going to sabotage a 180 billion dollar institution in an effort to placate some voters-angry mob who don't really understand the whole situation.

Dear A.I.G., I Quit! (The New York Times, March 25)

Perry Bacon Jr.: The big question is "does it matter if AIG employees quit?" I don't know the answer to that. The CEO of AIG seemed to making the case that these employees there now are the best people qualified to help the company come back from its problems. Congress has a big problem with giving bonuses to some people who hurt the economy in the first place. This is a very interesting question, but I don't have the answer.

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Raleigh, N.C.: Why are reporters more concerned about how the deficit might affect us in five years than in how the lack of demand affects us right now? It was just kinda weird to me. I mean, yeah, the U.S. is going to have to pull off a hairpin turn once the economy recovers, and institute fiscal discipline. But we have to get to that hairpin turn first by getting our economy to recover. Recovery is Job One. The deficit is Job Two.

Perry Bacon Jr.: I think there is wide agreement economic recovery now is more important than the deficit later. I think the question is how much of the spending Obama is proposing now actually helps the recovery versus simply fulfilling goals he would have had any way. I think that's how the Republicans would put it. I think some of the non-partisan fiscal experts and a few Democrats say even if some of that spending is justified, too much of it too soon creates deficits that are a major problem now. For instance, I'm not sure Obama has made the case that expanding health insurance now will help the recovery and why that couldn't be done in 2011 instead. (you can make a case, I don't think Obama truly has)

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Princeton, N.J.: There was an important letter of resignation from a VP of AIG in the Times today. Everyone should read it. I have been disgusted with the media treatment of these guys. There is a general problem of excessive executive compensation, but to concentrate on a small group is poor journalism. And you got the facts wrong. For example, we were told that the guys getting the bonuses were the ones who messed up when actually those people were long gone.

Perry Bacon Jr.: First, the stories haven't been wrong; AIG has given huge bonuses to people, some of whom worked at divisions of the company that have been blamed for the financial crises.

Congress passed a bill to try to get back the bonuses, the president complained about them, the Fed chair did too, exactly how is the media getting the blame here? There seems to be a wide condemnation of the bonuses outside of the press, one that would be crazy for us to not cover.

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Prescott, Ariz.: It seems that there is this beltway infatuation with having the lower and middle class "sacrifice" some more. Insider reporter/pundit Chuck Todd thinks it's so important he brought it up last night, but he certainly wasn't the first. The average American hasn't seen real increases in wages for the last eight years (compared to inflation and with insane health-care costs), and many are losing jobs, health care, etc. What do you want from us? Can't you just say it?

Perry Bacon Jr.: Lots of questions about the question from Chuck Todd of NBC. Here's his question

"Thank you, Mr. President. Some have compared this financial crisis to a war. And in times of war, past presidents have called for some form of sacrifice.

Some of your programs, whether for Main Street or Wall Street, have actually cushioned the blow for those that were irresponsible during this -- during this economic period of prosperity or supposed prosperity that you were talking about.

Why, given this new era of responsible that you're asking for, why haven't you asked for something specific that the public should be sacrificing to participate in this economic recovery?"

Again, I don't think he was looking for a specific response from Obama, and I'm sure he is average of people losing income, jobs, etc. in this recession. But our job is to ask questions and see what Obama will say, not to crowd-please through our questions.

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Reston, Va.: Perry, I'm sure the "inside the locker room" talk among media types was about the president choosing to call on other outlets and skip the Post, NY Times, USA Today, etc. While I would be disappointed if I worked for one of those outlets, I think it was a great thing. Not to "punish" those outlets, but simply to give voice to a more diverse range of publications, many of whom focus on specific segments of the population or specific issues. What's your reaction?

Perry Bacon Jr.: I"m fine with the President calling on a variety of news outlets. They cover him closely, have strong reporters, etc. If they call on a reporter from obamaforamerica.com that would concern me.

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Mannington, W.Va.: The president keeps using the term "inherited" whenever he talks about the budget deficit. As he keeps signing bloated spending bills and billion dollar stimulus packages with the help of a democratic congress that has been in power for over two years, how much longer can he continue to blame the previous administration for the deficit?

Perry Bacon Jr.: I think he will spend all the years of his term blaming Bush for certain things that he feels were left in his lap. Why wouldn't he? What is the harm in blaming Bush who was pretty unpopular by the end of his term? The question will come from whether the public believes that is a valid argument in two or four years.

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Washington, D.C.: One thing Obama was getting better at last night, but perhaps not as good as he needs to be, was explaining his eductated opinion that there is no good alternative to increased spending (as long as its the right, stimulative kind) and deficits if we want to fix our economic problems. Attacking an increased deficit is too easy if the attackers aren't required to put forth some alternative plan that will increase economic growth.

Perry Bacon Jr.: I think the Republicans are putting out an alternative budget plan this will week, so we can see how they would approach growing the economy. I think they have been quite clear in drawing a contrast. Obama says increased spending on roads, schools, etc. will create more jobs, the GOP has been more focused on the housing market and larger tax cuts.

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Tuckerton, N.J.: Some of the D.C. punditry in recent weeks has focused on President Obama's overuse of a teleprompter, his lack of communication skills and his overall handling of the economic crisis. My question is, has the past eight years been totally whitewashed from the Beltway memory hole?

Perry Bacon Jr.: I don't understand the purpose in reminding people every flaw of President Bush in every piece about Obama. I don't think anyone has forgotten the past eight years. I think any president deserves close scrutiny and criticism when appropriate.

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San Diego, Calif.: Yesterday Ben Pershing answered a few questions dealing with President Obama's popularity, and noted that there is a downward trend since the Inauguration, which Pershing attributed in part to growing public dissatisfaction with Obama's policies and performance.

One of my frustrations with the mainstream media is that little if any effort is paid to historical comparisons. All presidents may have experienced somewhat of a decline in popularity in the months after they are sworn into office--hence a dip in Obama's popularity may be expected regardless of his policies. Unfortunately, we'd never know if this is true or not from reading the mainstream media, which is why so many critical thinkers tend to gravitate toward blogs that contain a bit more thoughtful analysis.

washingtonpost.com: Post Politics With Ben Pershing (washingtonpost.com, March 24)

Perry Bacon Jr.: I think Ben was hitting an interesting point and one that is important to watch. Obama has made a big case of rising above partisanship, but Republicans are increasingly lining up to attack him. And Obama, while casting himself as above party, is pushing an agenda full of things liberals love and conservatives hate. (tax increases for expanding health care) So one of the important things to watch is when or if his disapproval among the people who didn't' vote for him rises. Even in 2005, when Bush had just won reelection, his disapproval rating was in the 40's, meaning few Democrats supported him in the country, so few Democrats on Capitol Hill would either. If Obama can keep that disapproval lower than 35 or 40, he can be sure to get Republicans to at least think about voting for some of his agenda.

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Los Angeles, Calif.: Why do you think Wall Street geniuses didn't predict the current stock market rally, or have anything definitive to say about how long it'll last? They're certainly adept at getting questionable bonuses and criticizing proposed regulatory changes to correct for past market abuses, but none predicted this current advance. Other than offering the old stock market adage -- buy low, sell high -- what good to the investing public are the likes of Jim Cramer and Rick Santelli? Appearing outraged far after things obviously go badly doesn't help anyone's' 401k.

Perry Bacon Jr.: Jim Cramer has a pretty steady but not large audience, I would ask your friends who watch him what part of his stock advice they find useful. That said, his show is supposed to be in part entertaining.

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Harrisburg, Pa.: How committed is the administration to renewable energy sources? I hear them saying the right words. How soon will there be dramatic changes in our energy supplies? When I hear that research shows algae can be an effective and quickly grown fuel sources, how solar energy could meet all our energy needs, how more efficient engine designs have been on the books for years, and how these could all be built in a matter of a few years, and then when I read predictions it actually takes decades to actually create these programs, I wonder why we don't act faster.

Perry Bacon Jr.: You should read the budget section on Energy. The administration is actually very committed to some of the goals you listed.

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Myrtle Beach, SC: The problem with putting off health-care reform, Perry, is that every president has either failed or succumbed to pressure to put it off and then it never gets addressed. The reality is that Congress has great health-care plans and like with quite a few other things, they don't get that their constituents are suffering. Our health- care system is the least cost effective in the developing world. The problems are myriad and exist at several levels. If Congress cared about future generations, they would fix health care NOW.

Perry Bacon Jr.: One view of the health care situation.

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No Crowd Pleasers: Well, as Groucho would say, you certainly succeeded. Lots of anti-Washington sentiment out in the heartland.

Perry Bacon Jr.: Another view on the questions at the press conference.

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Rochester, N.Y.: You were very good about taking tough questions last time, so I hope you'll take this question as well...

The questions asked by reporters last night were an embarrassment. Obama roles out a bank plan that is strongly criticized by two Nobel prize winners and there are 'no' questions about that. Instead we get questions about "sacrifice."

Joni Mitchell once wrote that she was ashamed to be part of the music industry. Do you ever feel ashamed to be part of the DC media?

Perry Bacon Jr.: I think I've defended the questions at the press conference enough in this chat, but here are some other critiques of them.

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RE: Your Response to Boston, Mass: Ed's question wasn't good because it wasn't probative. Given the magnitude of issues the president is dealing with, asking about a two-day delay in showing indignation on one issue appears more a gotcha question than an effort to seek useful knowledge for the public. I suppose if the president showed immediate emotion on the subject, Ed would have asked why didn't you wait until all the facts were in. Better questions would have centered on what specific policies, regulations or laws the president will propose/implement to avoid future. Whether it was 1, 2 or 3 days, the more important issue is what's being done to avoid future reoccurrences and getting this information to the public.

Perry Bacon Jr.: And another.

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Fair Lawn, N.J. : There's something really unfair about this. The pres didn't call on the Post, the Times or other major newspaper, and poor Perry Bacon has to do a chat defending the questions asked by TV reporters! Give the man a break! I got your back, Buddy.

Perry Bacon Jr.: And another.

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re: Pain and suffering: I thought Chuck Todd's question actually just revealed how out of touch much of the Beltway is with average Americans. I read articles every day about how Americans are cutting back on various things, sacrificing, etc., etc. To act like we haven't had any stake in what's going on -- that we haven't suffered -- is absurd.

Perry Bacon Jr.: And one more.

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Potomac, Md.: Perry, aside from whatever current pushback there is from both sides about the proposed budget, do you think the time is right for some additional pushback on spending on stuff that, federally, we shouldn't be spending on in the first place?

I mean, why should the feds be spending on education for instance where constitutionally this is really an area of local control? And I say this as a liberal Dem also.

I'm just saying that the time is right I think for us to think critically about what we are spending on and what we need to do to change the paradigm. Is there anyone out there that's pushing the envelope in this direction?

Perry Bacon Jr.: Well, the Republicans are pushing it generally in this direction, although not as aggressively as it sounds like you would prefer.

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Ithaca, N.Y.: Perry, thanks for taking questions. What do you think of a Rasmussen poll just released that says young people are increasingly getting their news from Jon Stewart and Stephen Colbert? What consequences, if any, does this have for traditional media outlets? Nearly One-Third of Younger Americans See Colbert, Stewart As Alternatives to Traditional News Outlets (Rasmussen Reports)

Perry Bacon Jr.: Where do you think Stewart and Colbert get their information? They don't have reporting staffs. AP, NYT, Wash Post, NBC will have influence as long as they are the people who have larger staffs actually out there gathering facts. I love what Stewart and Colbert and for that matter Rush and others do in talking about politics, but I don't think they replace news-gathering outlets. If don't already read the news somewhere, Stewart and Colbert aren't easy shows to follow.

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Omaha, Neb.: I am a pretty liberal person, I am very comfortable with government regulation. But the grandstanding over AIG has made me really nervous. I worry that members of Congress will get so heady with grandstanding and righteous indignation, they will lose what little common sense they had to start. How long do you think it will be before people can discuss AIG in a sensible manner, that is, without compulsively attaching "and I'm OUTRAGED, by the way" to every sentence?

Perry Bacon Jr.: I think Obama is trying to move precisely in your direction if you saw his remarks on 60 Minutes and last night. I think the outrage has moved on for now.

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Arlington, Va.: Obama said that while people criticized his budget, no one has put out an alternative. Isn't this somewhat disingenuous. For a document that is as long and as specialized as the budget, do groups normally submit a complete and alternative budget for comparison?

Perry Bacon Jr.: The House Republicans are putting out one, the Senate Republicans will put out amendments on how they would change the budget. Obama is politically smart to say the Republicans are offering no solutions, but in reality they are offering ideas. He disagrees with their ideas.

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New York, N.Y.: You guys pretty much know who the President is going to call on in advance, don't you? Don't you huddle up and try to get some questions asked and areas covered, so you don't have ten questions about AIG and none on the budget, for example?

Perry Bacon Jr.: Yes, we are generally aware of who he will call on. I think most reporters don't have long discussions about what they will ask with one another, but instead walk in with a list of questions, knowing their first several might get asked by someone else.

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Bethesda, Md.: The President, I believe, is 100% right when he says the budget is intrinsically linked to the recovery. If we don't invest in key aspects of the economy, which is what he is proposing, then the recovery will take longer and in the process more people will be affected by the recession.

Perry Bacon Jr.: Well, yes and no. Some of the spending is the budget is on long-term priorities and I"m not sure how many jobs they will create. They reflect long held goals of Obama and others, such as increasing the size of Pell Grants. Congress passes a budget every year, even when we're not in a recession.

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AIG bonus handbacks: Yesterday morning, NPR reported that some of the AIG bonus recipients were handing back their bonuses, but that five had not (yet). What prompted those who handing them back to change their minds (shame? fear?), and more importantly, what can be done to pressure the other five to follow suit?

Perry Bacon Jr.: One of the AIG employees wrote an op-ed in the Times on this matter, which I recommend you read. I think some of the outrage has pushed them in this direction of giving back the bonuses, but has also caused some of them to quit their jobs.

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washingtonpost.com: Dear A.I.G., I Quit! (The New York Times, March 25)

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Boston, Mass.: I know this is Obama's fault because he called on all the broadcast and cable entertainers and none of the smart guys with the ink- stained fingers, but not one question on the Geithner plan? I mean it's not like the plan is supposed to be the silver bullet for saving the global economic system or something!

Perry Bacon Jr.: Another question on the media front. The Geithner plan was pretty well-received and rightly or wrongly, the media tends to focus on questions where there is conflict, like on the budget. I thought the Geithner plan was addressed at the news conference in some way, but yes, there were more questions on the budget for sure.

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Kingston, N.Y.: I'm afraid that all this rage has a subtler root. For a generation, Americans have used money as a barometer for success and the lack of it as a reminder of what we hold important. Look at the professions we esteem (professional athletes, movie stars, big business, etc.) and the ones we scorn (nurses, teachers, social workers, etc.). Do you think that this rage could actually bring about a realignment of our values? And if it does, what part should the media play? I guess I miss the old-fashioned investigative reporting which seemed to keep these inequalities front and center. (Kudos to Dana Preist and her expose on the military hospital)

Perry Bacon Jr.: One of my colleagues, Amy Goldstein, two weeks ago wrote a long-piece about how the fiscal problems in South Carolina affect poor people. Reporting on this kind of stuff exists and is done very well by the Post and other publications. I think some of the tension caused by the fiscal crisis probably does stem from a gap between the rich and everyone else that has grown over the two decades. I dont' think anyone scorns teachers, so I don't agree with that part of your message, but the big salaries for CEO's and profits of big corporation was always something that people were frustrated about. (Politicians have been ranting about drug company profits for years, recession or not.)

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Hell's Kitchen, NYC: It's not an accident that so many righties settled on the "Obama is boring" meme this morning. The idea of attacking one of Obama's greatest strengths -- his ability as a communicator -- has been brewing for a while. Isn't that what all the silly yammering about the teleprompter is about, too, Perry?

Perry Bacon Jr.: No, the teleprompter stories can from a specific incident at event that Kathleen Sebelius attended. Politico and the NYT wrote stories on the same day in part because Sebelius mentioned the prompter and seemed surprised by it. I think Obama's ability as a communicator has been questioned in part because there seems to some gap between his personal popularity and his ability to get support behind his policies.

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Boston, Mass.: As a print reporter, do you wish that less stuff was televised? It's presumably really dumbed down the discourse with everyone playing to the cameras (see congressional hearings -- please tell me that these people are more intelligent than their questions suggest). Gibbs's daily press conferences seem to spend a lot of time saying "I'll look into it" -- seems like it would be easier for the press to just send in inquiries.

Perry Bacon Jr.: I don't agree. Having things on television has some drawbacks, members of Congress and yes even some of the reporters I respect I worry occasionally play to the cameras. That said, televising things gives Americans access to them in a way that print never can. You can watch Congress in action, how the president's staff interacts with reporters. I would be for more televising, such as Supreme Court arguments.

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Re: Colbert and Stewart: I hear your point about Stewart and Colbert getting their news from places like the Post and Times, but still...isn't a little embarrassing that people take comedians more seriously than your opinion page?

Perry Bacon Jr.: No. I don't agree with your premise, but more importantly, Colbert and Stewart constantly say they are just comedians, but in reality they have roles akin to Rush or Hugh Hewitt, people entertain but also play roles in informing the public. Stewart has the kind of pull with liberal audiences Rush does with conservatives, even if Stewart would not frame his role in the same way. My big worry is lots of people chose only to listen to media they agree with, instead of seeking out a wide range of sources. I would love liberals to try listening to Rush, and conservatives to Ed Schultz.

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Perry Bacon Jr.: Thanks for the chat. Always enjoy your questions. Perry

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