Clearly, the truth about the jobs situation in the U.S. has taken a backseat to the Washington, D.C. kabuki. But, per the person whom I consider to be the conscience of U.S. journalism (for those in the MSM that still maintain any semblance of a conscience, at least) it’s “…a discussion that’s become as rare as it is necessary…”

Preview: Fiscal Cliffs and Fiscal Realities
December 12, 2012

When it comes to America’s economic health, all anyone seems to talk about is the “fiscal cliff,” and the perils of our inevitable plunge. But media’s favorite metaphor is distracting us from actual and crucial fiscal realities. On the next Moyers & Company, independent political and economic analysts Bruce Bartlett and Yves Smith join Bill in a discussion that’s become as rare as it is necessary — why are Washington insiders talking about the deficit crisis and not the jobs crisis?

Bartlett, former advisor to Presidents Ronald Reagan and George H. W. Bush, got into hot water with fellow conservatives when he aired concerns about the direction of their ideology and wrote critically of the second George Bush. His most recent book is The Benefit and The Burden: Tax Reform — Why We Need It, and What It Will Take. Yves Smith, who spent more than 25 years in the financial services industry, is the founder and editor of the popular blog Naked Capitalism, and runs a successful management consulting firm.

Following the conversation, Bill shares his perspective on one of the most corrupt D.C. fixtures — the revolving door between Washington leadership and lobbying. That lucrative pathway ensures that “when push comes to shove, corporate interests will have the upper hand in the close calls that determine public policy… no matter which party is in power…”

(Bold type is diarist’s emphasis.)

I’ve got plans for the evening, but I’m going to DVR this, since I’m sure it’ll be chock-full of poignant commentary. And, when it comes to discussion concerning D.C.’s revolving door, there are few people more knowledgeable on the subject than Yves.

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