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Lawrence G. Hrebiniak: The Mismanagement of America, Inc.

August 06, 2008 / 27:35

This episode features Wharton management Professor Larry Rinc discussing his book, "The Mismanagement of America." Key topics include government mismanagement, fiscal irresponsibility, and the need for major management changes.

Rinc compares the U.S. government to a failing corporation, arguing that it is not serving its shareholders, the citizens. He highlights issues such as the growing national debt, entitlement spending, and ineffective intelligence gathering.

He warns of a looming fiscal crisis due to rising entitlement costs as Baby Boomers retire, with projections of a $63 trillion fiscal gap. Rinc emphasizes the need for a balanced budget amendment and reform of the tax code.

Rinc also critiques the intelligence community's inefficiency, citing the lack of cooperation among 64 different agencies. He suggests reorganizing these agencies for better coordination and effectiveness.

Finally, he encourages citizens to become more engaged and informed voters, stressing the importance of demanding accountability and change from their elected officials.

TL;DR

Larry Rinc discusses government mismanagement and the urgent need for reform in America.

Episode

27:35
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[Music]
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this podcast is brought to you by
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knowledge at Warton please visit
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knowledge. won. up.edu for more
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information America's government has
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failed America and the nation now faces
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Dreadful catastrophic consequences
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unless the government changes its ways
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says Wharton management Professor Larry
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rinc in his new book The mismanagement
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of America he writes the country is on
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an unstable burning platform of
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mismanagement Financial and fiscal
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irresponsibility ineffective
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intelligence gathering capabilities a
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destructive power structure and a host
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of other ominous and potentially
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dangerous problems to avoid its
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disastrous collapse major management
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changes and sound leadership are needed
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rinc lays out the changes that must
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occur and warns that there is no longer
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time for Americans to shrug their
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shoulders and dismiss government
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ineptitude as the inevitable result of
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politics thanks for joining us today
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Professor thank you you frame America as
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a failing Corporation why did you use
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that
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analogy that's a good question to start
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with I had done a lot of work over the
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years with corporations I've worked with
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a lot of global organizations and of
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course I was familiar with the corporate
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model I began looking at United States
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and I thought to myself this is like
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America Incorporated look at it it's
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huge it's over three and5 trillion
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dollars a year it's a big business it's
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Diversified it's in Defense Education
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media energy Banking and finance
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engineering science Transportation you
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name it Diversified large organization
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globally it acts like a business I mean
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it it hires people fires people has
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health care plans has retirement
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programs and so I started looking at it
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that way and said if I look at this
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organization as a large Global player
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trying to be efficient and effective run
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by top management run by I'm only
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focusing on top management White House
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and Congress let's see what we can say
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let's compare this organ gation to a
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large corporation to see how it's being
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managed and as you know most of my work
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in the past has been in management
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Strategic Management so I to me it was
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an interesting sort of challenge to
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relate what I know about business to
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America Incorporated in that analogy you
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come to the conclusion that the
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management we have isn't really doing
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the job for its shareholders or other
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stakeholders this is exactly right okay
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the shareholders the citizens taxpayers
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and so on uh overall it's the top
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management team is not performing some
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they're performing better for some than
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others as we know uh there's all sorts
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of data about income discrepancies in
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equities and so on so but overall no
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they're not performing very well at all
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you describe in your book the
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consequences that await us if the
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government doesn't change its ways and
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you describe those in a couple of
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different forms one of those is in
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fiscal matters you warned that we're
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facing a coming explosion of entitlement
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spending on things such as Social
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Security and Medicare as Baby Boomers
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prepare to retire can you describe that
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scenario and what kind of dramatic
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changes need to occur in order to avert
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that if you take a look at our country
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take a look at our debt for example
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we're at 9.5 trillion it's a a lot of
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money the debts growing at2 billion a
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day over $200,000 a second the debt is
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growing in the United States some
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amazing amount that's bad enough but the
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treasury itself has looked ahead and and
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talked about what I'll call a fiscal Gap
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they've looked ahead a decade or two or
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three and said given the entitlements
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that are coming up giving baby boomers
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uh growth coming into the market so to
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speak what is the fiscal Gap you know
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they projected at $63 trillion so if we
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have A1 trillion doll debt already with
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a $63
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trillion uh fiscal Gap what are we going
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to do about this we're not confronting
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the issue politicians on both sides of
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the aisle have ignored it it's been
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going on for a long time what do they do
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in the book I say for example they
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fiddle with deficits they fiddle while
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us Burns so to speak look at Social
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Security social security has been
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turning a profit and so what do we do
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with the profits from Social Security we
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take the profits we use it for existing
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budgets existing uh deficit reduction
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for example allak Clinton and some of
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the others but what do we do we then
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take IUS and put them in the Social
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Security trust fund and we call those
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IUS assets so we're putting debts into
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the trust fund calling them assets and
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saying we've got all these assets in
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Social Security no we don't we've got
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debt that someday is going to come and
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bite us on the lake we're going to have
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to pay for these things add in Medicare
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Medicaid take a look at all of the
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things we have and what are our top
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managers doing nothing they have the
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head in the sand they're not motivated
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to make changes and why you know it's
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some of it's obvious for example Social
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Security our top people don't worry
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about social security because they're
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not on Social Security the way they
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don't worry about health care I think
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people in Congress pay $35 a month for
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unlimited healthare they don't
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understand the problems of many
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Americans when it comes to healthcare to
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them they've got everything and they're
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ignoring the problem now if we don't
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take care of some of these things coming
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up soon if we don't bite the bullets
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soon if we don't worry about things like
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balance budgets uh constitutional
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amendments to curb spending we don't do
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these things we are going to find
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ourselves in a relatively short period
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of time in a major major problem that's
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not going to be reversed very easily
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other people have talked about this
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before in fact David Walker the
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controller of the currency has been
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traveling all over the country raising
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alarms about the coming fiscal problems
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that we're facing do you think it's
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possible in some way to get the
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government to recognize these problems
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that you're talking about I think we
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have to force them I don't know how uh
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but you know I guess what I'm saying is
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I'm hoping maybe against hope but I hope
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some of the politicians especially
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supposed new breed of politicians will
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make some changes I mentioned a uh
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balance budg amendment in a
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constitutional amendment we tried it
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with gram Rudman way back we tried there
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was some other one I forgot the name of
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it was a kind of fiscal control none of
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this has worked because we get around
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things they get around things with ear
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marks they get around things with with
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with spending I mean they attach ear
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marks in Congress to everything we are
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running 16,000 earmarks a year now
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attached to good bills these things are
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expensive they're not going anywhere so
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what do we do right here a
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constitutional amendment forcing a
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balanced budget I would eliminate all
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marks if something can't pass on its own
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merits as a bill it should not be
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attached to another bill I remember
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years ago Reagan Ronald Reagan vetoed a
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bill because it had a few hundred
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earmarks attached to it a transportation
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Bill one of the latest versions of the
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transportation bill I think 2006 had
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over 6,000 earmarks attached to the bill
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go one step further I know maybe I'm
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going too far a field but I just read
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something by our governor renell in
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Pennsylvania about how our bridges need
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work and how we all know what happened
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in uh Minnesota with the bridge collapse
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and so on here's another example since
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1970 when we passed that Highway
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Transportation Act we have had over 700
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billion doll supposedly dedicated for
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roads and bridges I think something like
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85% of that money those monies never
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reached Bridges and roads they went into
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senators and
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representatives uh earmarks private home
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uh based projects all of this is
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wasteful we just have to stop it no ear
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marks uh a balanced budget a
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constitutional amendment maybe change
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the tax code I know I'm getting the
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field but our tax code's a mess Bush
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came in saying he was going to reduce
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the tax code reduces his complexity in
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his first term he increased the tax code
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by over 10,000 Pages now again he's not
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alone other presidents have done the
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same thing why do we do that the greater
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the complexity the greater the number of
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loopholes the more we can hide stuff and
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so we just have to say let's revise the
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tax code make it simpler let's get away
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from all of these things that we're
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hiding so I like to think that our we
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have politicians who are going to wake
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up who are going to not be so short-term
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oriented and become more like managers
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thinking strategically long term that we
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can't create this debt and we can't
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leave it by the way this debt of course
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not only increases the cost of
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government it it crowds out private
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investment and so I'm worried about
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innovation and private investment in the
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country because more and more money is
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being taken up with the debt and with
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things like military spending it's
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burdening future Generations you know we
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we we just finished I think last year
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paying off the last 30-year bonds or
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bills for Vietnam and and you know here
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we go we're starting now of course to
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Iraq Afghanistan we're just picking up
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where we left off and so I think it's
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you know we're creating real problems
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trade imbalances I mean name it we've
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got all of this debt I mentioned the
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military I not against the military but
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when I look at the numbers as part of
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all of this I get
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scared the military budget's huge the
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online budget's huge and then we have
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all this offline uh you know Black Box
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stuff yeah where we add more things to
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the budget we just keep on adding to the
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I know we have to have a strong military
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but if I look at the military plus the
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interest on the national debt just those
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two things the military budget and the
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interest on the national debt I think of
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all of the tax dollars we're receiving I
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think 60 cents of it I'm sorry 40 cents
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of it goes to those two purposes we have
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60 cents left after the military and
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interest on the national debt no wonder
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we're losing out we can't afford am Trak
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we can't fix our roads we can't do so
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many things we can't support education
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because we're spending too much and of
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course not only do we have a
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military-industrial complex but a friend
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of mine just wired me emailed me and
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said we also have a military Golf
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Complex because the military runs 300
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golf courses this is so worldwide and
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and you know that's a big expense and I
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don't know where that fits into the
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defense scheme of things but we have to
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have those two 300 golf courses I guess
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well you want to have those Generals in
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a relaxed frame of mind all the time
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well that's the other thing if if the
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Specialists and e2s and threes and e4s
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and fives the enlisted men were using
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the golf courses maybe I'd feel a little
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better but I have a feeling that's not
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the case probably not probably not if if
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they're on the course they're caddies
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okay for the generals yeah a lot of that
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debt is held by Sovereign wealth funds
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and other foreign interests
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are you concerned about that well I
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think we should be concerned about it uh
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for example we have a lot of countries
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like China for example holding a lot of
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our debt now probably nothing bad will
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come from it but there's always the
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possibility for example we are now
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head-to-head with China and oil
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consumption I mean they are growing they
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are using more and more oil and if
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Supply stays roughly the same in the
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world or even uh less over the years in
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fact there's going to be a face-to-face
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head-to-head confrontation with China
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about who gets resources and they'll be
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fighting with us to see who could waste
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the most I guess because right now we're
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the biggest waste waster of resources
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well just look at that if they're
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holding a good chunk of our debt dollar
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denominated debt and we're fighting with
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them uh and if things happen in the
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world that we begin we're seeing now the
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Euro for example becoming stronger I
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know Europe recently is having some
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troubles but we know the Euro has grown
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amazingly so what
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if uh a lot of the countries start
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investing in Euro denominated death the
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dollar will go down if the dollar goes
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down
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a lot of these people holding dollar
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denominated debt will might want to get
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rid of some of that debt if they flood
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the market what will happen our dollars
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going to get hurt it's going to go down
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the tubes our interest rates are going
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to suffer we're going to have to raise
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interest rates in order to be attractive
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in the marketplace worldwide which means
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that inflation will probably go up and a
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lot of people will not be able to buy
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homes a lot of people will default on
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their credit card debt and will China do
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something like that political I hope not
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but in the history of the world it's
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happened that economic things overshadow
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and economic political things overshadow
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even Common Sense occasionally and so
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yes I do worry I I would like to see us
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to be a little bit more solvent in the
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world put it that way our return to the
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misery index only much worse than we've
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had before perhaps I I would think so
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and I I'm very concerned about that
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you've also raised concerns about the
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government's activity in the area of
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security Now terrorism is on the minds
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of many Americans and the government
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makes sure it stays there but you seem
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to think that the war on terror is not
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going very well well I have a concern
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here I I originally when I was looking
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at material for the book um didn't know
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much about the intelligence Community I
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picked up a couple of things I talked to
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some people and and and well I did some
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work for the intelligence Community
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years ago but on strategy organizational
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design that sort of thing so I had some
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interest well I started digging into
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things and I started looking at the
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management and organizational design of
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the intelligence Community to see if
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this could work to see if I could
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explain from a management point of view
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why we might be having troubles and I
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came up with you know some some notion I
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mean we're spending a lot of money I
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think it's 100 uh million dollars a day
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is it $100 million doar a day on on
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intelligence now we like to talk about
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our big intelligence the CIA uh FBI
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NSA but I started looking at this I
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started digging without a lot of trouble
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I found 64 different organizations
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involved in intelligence 4 every branch
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of service has its own every branch of
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service has its own there's all sorts of
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things I mean we turn around in the book
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I list them I can't there's so many of
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them I can't even remember half of them
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but we have so many of them and what do
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we find not only do we have too many
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agencies but we have divisive politics
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we don't have cooperation we have
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competition across these agencies for
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money these agencies don't share
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knowledge here's a quote a quote that
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came from a book of someone from someone
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who studied the CI he said something
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like the quote read we don't come to
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work asking what information can we
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share with our colleagues to solve
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problems we ask what information can we
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hoard keep away from others so that we
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could pursue our own goals translation
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we can keep our budget High we become
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the important agency and so on and so
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forth so we don't have 15 or 16 agencies
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we have 64 unclear responsibility no
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knowledge sharing and just look we
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created a zar what was it 2004 we
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created this act which said we need
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someone to coordinate we put a zar in
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charge of things but what did that mean
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if I look at these 64 organizations
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there are no solid lines all the lines
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are dotted from a management point of
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view what does that mean we have a zar
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who has no power he can appeal to people
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he can talk to people at the CIA and say
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please do this and they can say oh yes
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we'll think about it and then go and do
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what they want you're speaking of the
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director of Homeland Security yes
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exactly it it's a powerless position and
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so when I look at all of these
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organizations pursuing their own goals
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not sharing information when I look at
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poort integration or coordination across
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these agencies when I look at any
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organization that would be this complex
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with each agency doing its own thing I
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call it when I looked at it I said the
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intelligence Community is this is an
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organization where people work alone
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together they don't like sharing so what
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consequences might that have well we
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know what happened you know before 911
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we didn't know what was going on after
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911 if we're not going to cooperate if
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we're going to have this complexity and
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we're not managing it well could you
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know are we missing out on things that
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are going on out there are we not
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coordinating knowledge sufficiently I'd
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like to think we are but I at least want
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to raise a red flag I suggested in the
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book for example that reorganization
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might be needed you know why not have
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like again following a kind of corporate
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logic if we have a corporation why not
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break into like three groups foreign
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intelligence domestic intelligence
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Military Intelligence subsume all the
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military under one with a head with
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authority and have uh a domestic led by
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the FBI have foreign led by the CIA and
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then start looking at these groups of
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people with different agencies inside
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collapsing agencies under the three and
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then worry about things like lateral
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coordination sharing knowledge de
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devising ways to uh share information
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laterally laterally to coordinate across
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these agencies I feel safer if we did
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that you say several times in the book
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that these problems are so serious that
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we can no longer just shrug our
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shoulders as Citizens and say well
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that's just the way politics are there's
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really not much we can do about it
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because of the influence of lobbyists
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and it's just the nature of the
00:16:44
political system but what can citizens
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do to affect the kinds of changes you're
00:16:48
talking about here assuming those are
00:16:50
the kinds of changes that they want
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that's a hard question it's an important
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question but it's a difficult one
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because sometimes be very Frank I'm very
00:16:58
pessimistic
00:17:00
uh citizens love their reality shows
00:17:02
they love doing their things they don't
00:17:03
want to get get involved now lately how
00:17:06
do I say this nicely they've been
00:17:08
getting involved why because the gas of
00:17:10
price uh the price of gas has gone at
00:17:13
through the roof before when Supply was
00:17:15
plentiful gas was cheap no one
00:17:17
complained if we look at lobbyist
00:17:19
activity in our government mismanagement
00:17:21
for example in 1973 the Middle East cut
00:17:23
off all the oil people screamed and
00:17:25
shouted and and then all of a sudden
00:17:27
Supply came back and every politician I
00:17:30
think since has said we're going to
00:17:31
reduce oil dependency since 73 every
00:17:34
president-elect every Vice
00:17:35
president-elect everyone running for
00:17:37
congress says the same thing what's
00:17:38
changed nothing so finally people are
00:17:41
asking I think we've known about this
00:17:42
for decades nothing's been done what's
00:17:46
going to be done now so I hear at least
00:17:48
consumers screaming there actually I
00:17:51
read two days ago in a Wall Street
00:17:52
Journal they're writing letters to their
00:17:54
Congress people they're saying we have
00:17:56
to get out of this mess people people
00:17:59
because are getting hurt by the mortgage
00:18:00
crisis they are riding their Congress
00:18:03
people all I can think about is if there
00:18:06
is a silver lining maybe that's the
00:18:07
wrong word but from all of the turmoil
00:18:10
of late it's that we're getting people
00:18:12
involved that they are contacting
00:18:14
Washington if Washington and especially
00:18:17
with an election coming up if we get
00:18:18
some people in who for example go back
00:18:21
eliminate earmarks who demand balanced
00:18:23
budgets who reduce the power of
00:18:26
lobbyists with a real ethics Bill not
00:18:28
the one in 2007 which doesn't control
00:18:31
lobbyists at all if we did if we scream
00:18:35
for these things and eliminate the power
00:18:37
of the lobbyist and wrote our Congress
00:18:40
people and demand leadership finally I'd
00:18:43
like to think we might be able to make a
00:18:45
change we've seen it happen before in
00:18:47
our history we've seen it happen in
00:18:48
other countries who is it Bob Herbert is
00:18:51
that his first name Bob the New York
00:18:52
time yeah said what two years ago he
00:18:55
said the problem is the US is a nation
00:18:58
of nitwits
00:19:00
now there are times I believe that's
00:19:03
true quite frankly including me but I
00:19:05
think we're waking up I hope we're not
00:19:07
going to remain a nation of nitwits I
00:19:10
hope we're going to call our politicians
00:19:12
I hope we're going to exercise the right
00:19:14
to vote in this election coming up not
00:19:16
only for president and so on but you
00:19:19
know for our Congress people now having
00:19:22
said that I still worry about other
00:19:23
things for example the gerrymandering
00:19:25
laws the lobbyists you know if you look
00:19:28
at a man management from a management
00:19:30
point of view Lobby lobbyists are big
00:19:33
business there are 35,000 registered
00:19:35
lobbyists right now in K Street this I
00:19:37
call in the book what the pave Street of
00:19:39
gold 35,000 that's something like 65
00:19:42
lobbyists for every member of Congress
00:19:44
and they're holding money up they're
00:19:46
playing games and and and our Congress
00:19:48
people are succumbing to that money but
00:19:50
it's more than that there's something we
00:19:52
have to stop and also and that's what I
00:19:55
call in the book The revolving door the
00:19:58
half the people who leave public life
00:20:00
and take jobs in the private sector
00:20:03
become lobbyists so stop and think about
00:20:05
a a system of governance or system of
00:20:08
management that says on one side of the
00:20:10
aisle we have a lobbyist waving money on
00:20:12
the other side of the aisle a
00:20:13
congressman who wants that money whose
00:20:15
vanity is being fanned by that money wow
00:20:17
I'm important but also looks across the
00:20:20
aisle and said you know if I play my
00:20:21
cards right I might land that $400,000
00:20:24
job in a few years as a lobbyist well
00:20:28
what we should do then is ethics law has
00:20:31
to change the code has to change we've
00:20:33
got to reduce the power of lobbyists
00:20:35
take away their power we we might for
00:20:37
example focus more more on Public
00:20:40
Funding of general elections I know
00:20:42
we've been talking a little bit about
00:20:44
that but it's not happening you know
00:20:45
Obama backed out of it and other people
00:20:48
saying we should do it but we have to
00:20:49
get the power away from the lobbyists
00:20:51
from the big ones we have to have the
00:20:54
ethics Bill and in fact we have to well
00:20:57
Jerry mandering you know I read
00:20:59
somewhere what in 2004 the last big
00:21:03
election a
00:21:05
435 seats up in the House of
00:21:07
Representatives or something of the 435
00:21:10
I think 35 were contested the rest
00:21:12
because of jurry mandering were in any
00:21:14
contest so imagine people looking at
00:21:16
that why vote if the election is isoing
00:21:18
and so we have to make some other
00:21:20
changes I admit but I think with some of
00:21:23
these changes incrementally one at a
00:21:25
time focus on fiscal focus on the guest
00:21:29
problem focus on a host of things maybe
00:21:31
people will bounce back if a citizen is
00:21:34
concerned about the issues you rais here
00:21:37
about the state of Homeland Security
00:21:38
about the looming problem with
00:21:40
entitlements how should they be
00:21:41
preparing themselves for the coming
00:21:43
election we've often said that we need
00:21:45
to get more voter participation and
00:21:47
turnout but don't we have to have better
00:21:49
informed voters and what are the
00:21:51
responsibilities of a citizen who is
00:21:53
preparing to vote especially in light of
00:21:55
the upcoming November elections we can
00:21:57
answer the question by going we back to
00:21:58
Cicero and then Jefferson I mean
00:22:00
basically what did they say Cicero said
00:22:03
if Stu if citizens don't remain a breast
00:22:06
of the issues what will happen is
00:22:08
management oligarchy will form and
00:22:11
control the country and they will have
00:22:12
no power so Cicero first told us warned
00:22:14
up against the danger of being La AAS
00:22:17
agal Jefferson said the same thing you
00:22:19
know and all the founders so citizens
00:22:22
have a responsibility I've always felt
00:22:24
that people get the leadership they
00:22:26
deserve and if they want better than
00:22:29
what they have now if they want to avoid
00:22:30
some of the problems we're facing what
00:22:32
should they do their homework read up on
00:22:35
the issues challenge the candidates on
00:22:38
the issues I know that sounds almost TR
00:22:40
to say it but they have to get involved
00:22:42
they have to think about what the issues
00:22:43
are they just can't sit back and let
00:22:46
themselves be fooled by the normal TV
00:22:48
quick blurb uh sound
00:22:51
bite pardon me there has to be a kind of
00:22:54
Let's Ask hard questions let's look into
00:22:56
the positions on certain there are a lot
00:22:58
of things to look into right now Iraq
00:23:00
the military Afghanistan terrorism the
00:23:03
fiscal irresponsibility there's a lot of
00:23:05
things that they should be screaming
00:23:07
about to their Congress people
00:23:09
so I hope I'm not sounding too trite or
00:23:12
I hope it's not falling on deaf ears but
00:23:14
I'd like to see our citizens do more
00:23:15
homework get involved uh pursue the
00:23:19
tough questions and go with a a clear
00:23:21
head to these elections coming up in
00:23:23
November is the media doing its job no I
00:23:25
don't think so I I this I I'll probably
00:23:27
get in trouble for saying this I know I
00:23:29
don't think so I think I see a lot of
00:23:31
things in the media that are alarming uh
00:23:34
number one increased concentration you
00:23:36
have a fewer and fewer and fewer large
00:23:38
organizations controlling a lot of the
00:23:40
news people align themselves you know
00:23:42
for example what is it the fox
00:23:44
Republicans watch and CNN the Democrats
00:23:47
watching and we have all these blogs
00:23:48
someone once said to me with all these
00:23:51
internet blogs and whatever we have all
00:23:52
this news that people are well informed
00:23:54
and I said not really because the blogs
00:23:55
people are attracted to are those that
00:23:57
you know it's like preaching to the
00:23:59
choir they go to the blog that get that
00:24:02
gives them the point of view they want
00:24:04
and the blogs don't talk to each other
00:24:06
the people don't talk to each other it's
00:24:08
very
00:24:09
narrow I'm also very sad and you're
00:24:12
being an ex- newspaper man I can say
00:24:14
this and you would understand too many
00:24:16
of our newspapers are disappearing
00:24:17
people don't read one Beauty about
00:24:20
newspapers is that they normally present
00:24:23
normally especially your better
00:24:24
newspapers present both sides of a story
00:24:27
they'll have an editorial saying one
00:24:29
thing and they'll take opid p on another
00:24:32
side or there's a lot of stuff that
00:24:34
people can read on both sides and say
00:24:36
you know I like a and I like B but let's
00:24:38
put them together now it makes for an
00:24:40
intelligent consumer of information we
00:24:43
don't have that right now our newspapers
00:24:45
are disappearing the blogs are
00:24:47
increasing uh media is becoming
00:24:50
increasingly cons Consolidated and I'm
00:24:53
concerned about that uh what is the old
00:24:56
saying back uh
00:24:58
big brother is watching you and now I
00:25:01
think it's getting to be more I'm
00:25:02
getting nervous you are watching Big
00:25:04
Brother you are reading big brother you
00:25:06
are listening to Big Brother know Big
00:25:08
Brother's just not watching I'm afraid
00:25:10
that Big Brother's beginning to control
00:25:12
a little bit too much and I don't think
00:25:14
that consumers are doing enough to get
00:25:17
all sides of a story do you have a sense
00:25:19
that the time is right for this kind of
00:25:20
message perhaps you see some sort of
00:25:22
opportunity I think so I hope so you
00:25:25
know as I started to say before I called
00:25:26
it a silver lining maybe that's to too
00:25:28
strong but given all the problems we're
00:25:30
having given the price of gasoline given
00:25:32
the mortgage crisis given the fact that
00:25:34
people are getting hurt maybe this is
00:25:36
what we need for a kind of uh social
00:25:38
revolution of sorts that people are
00:25:40
going to scream and shout that they're
00:25:41
going to vote their conscience that
00:25:43
they're going to come along and demand
00:25:45
changes from their government now we
00:25:47
have to be careful here take yine you
00:25:50
know right now people are talking
00:25:52
politicians are talking guas holidays
00:25:55
and additional drilling now
00:25:58
well first of all I have some problem
00:26:00
with the drilling if we drill for
00:26:01
example in the Arctic National Refuge we
00:26:03
will incre in 10 years we will increase
00:26:07
uh our what our our use of gasoline from
00:26:10
our own sources by 3% hardly enough to
00:26:13
make a difference number one but number
00:26:15
two if we get enough of this increased
00:26:18
Supply uh by lowering the gas tax or
00:26:21
whatever uh by doing other things we're
00:26:23
just going to increase demand we are not
00:26:26
controlling demand so I would like to
00:26:27
see has now for example turn to people
00:26:29
and say this hurts gas prices are high
00:26:33
but look what's happening from gas
00:26:35
prices being high people are now buying
00:26:38
more efficient cars the demand side is
00:26:41
changing people are responding the way
00:26:43
they should respond maybe what we should
00:26:45
do is keep raise the gasoline tax allow
00:26:49
in on income tax for example truckers
00:26:51
and others to have deductions that's
00:26:52
their job but maybe there's a way to
00:26:55
control consumption and get people to
00:26:58
think more in terms of efficient use of
00:27:00
gasoline and resources and that would
00:27:02
force further our politicians to make
00:27:05
take some action maybe I'm too pie in
00:27:07
the sky but I'd like to think that
00:27:09
people are going to wake up and see the
00:27:10
problems here and want us to do
00:27:12
something about them well thanks so much
00:27:14
for joining us today it was my pleasure
00:27:16
thank you for giving me a forum to talk
00:27:17
about my new book I appreciate
00:27:19
[Music]
00:27:21
it for more information please visit
00:27:23
knowledge. won. up.edu
00:27:27
[Music]

Badges

This episode stands out for the following:

  • 60
    Best concept / idea

Episode Highlights

  • America's Government: A Failing Corporation
    Professor Larry Rinc likens the U.S. government to a failing corporation, emphasizing mismanagement and the need for change.
    “America is on an unstable burning platform of mismanagement.”
    @ 00m 26s
    August 06, 2008
  • The Coming Fiscal Crisis
    Rinc warns of a looming fiscal gap of $63 trillion due to entitlement spending.
    “We are facing a coming explosion of entitlement spending.”
    @ 02m 52s
    August 06, 2008
  • Intelligence Community Inefficiencies
    Rinc critiques the fragmented nature of the intelligence community, highlighting a lack of cooperation.
    “We don’t come to work asking what information can we share.”
    @ 14m 04s
    August 06, 2008
  • A Nation of Nitwits
    Reflecting on the state of American politics, the speaker expresses hope for a more engaged citizenry.
    “I hope we're not going to remain a nation of nitwits.”
    @ 19m 07s
    August 06, 2008
  • Citizen Responsibility
    The speaker emphasizes the importance of informed voting and civic engagement.
    “Citizens have a responsibility to remain abreast of the issues.”
    @ 22m 22s
    August 06, 2008
  • The Role of Big Brother
    Concerns about media consolidation and its impact on public discourse are raised.
    “Big Brother's beginning to control a little bit too much.”
    @ 25m 14s
    August 06, 2008
  • A Call for Social Revolution
    The speaker suggests that current crises may spark a demand for change from citizens.
    “Maybe this is what we need for a kind of social revolution.”
    @ 25m 36s
    August 06, 2008

Episode Quotes

  • America is on an unstable burning platform of mismanagement.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.
  • The military runs 300 golf courses worldwide.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.
  • We can no longer just shrug our shoulders as citizens.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.
  • I hope we're not going to remain a nation of nitwits.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.
  • Citizens have a responsibility to remain abreast of the issues.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.
  • Big Brother's beginning to control a little bit too much.
    Lawrence G. Hrebiniak: The Mismanagement of America, Inc.

Key Moments

  • Government Mismanagement00:14
  • Fiscal Crisis Warning02:52
  • Intelligence Failures12:20
  • Citizen Involvement16:54
  • Nation of Nitwits19:07
  • Citizen Engagement22:22
  • Media Concerns25:14
  • Social Revolution25:36

Words per Minute Over Time

Vibes Breakdown

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