{"@context":"http://iiif.io/api/presentation/3/context.json","id":"https://iastate.aviaryplatform.com/iiif/v97zk5664c/manifest","type":"Manifest","label":{"en":["Neikirk, William, On the Economy"]},"logo":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/004/original/ISULogo.png?1601681107","metadata":[{"label":{"en":["Publisher"]},"value":{"en":["Iowa State University. Special Collections and University Archives"]}},{"label":{"en":["Identifier"]},"value":{"en":["RS008-006-053 (call number)","AV203260 (UID)"]}},{"label":{"en":["Description"]},"value":{"en":["On the Economy is a June 15, 1982 event in the Iowa State University Lecture Series featuring William Neikirk. William Neikirk discusses the effects of Reaganomics.","This item was captioned by Rev.com in conformance with WCAG 2.1 AA accessibility guidelines. 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Special Collections and University Archives, Iowa State University Library, Ames, Iowa."]}},{"label":{"en":["Ark"]},"value":{"en":["https://n2t.net/ark:/87292/w9t727m59"]}},{"label":{"en":["Date"]},"value":{"en":["1982-06-15"]}},{"label":{"en":["Type"]},"value":{"en":["lectures","Sound"]}},{"label":{"en":["Agent"]},"value":{"en":["Neikirk, William (speaker)"]}},{"label":{"en":["Format"]},"value":{"en":["1/4 inch audio cassette"]}},{"label":{"en":["Subject"]},"value":{"en":["Economic policy","Supply-side economics","Labor supply"]}},{"label":{"en":["Coverage"]},"value":{"en":["United States (spatial)"]}},{"label":{"en":["Language"]},"value":{"en":["English (primary)"]}},{"label":{"en":["Relation"]},"value":{"en":["Committee on Lectures records (RS 8/6/53) (physical collection)","Iowa State Lectures Series (digital collection)"]}}],"summary":{"en":["On the Economy is a June 15, 1982 event in the Iowa State University Lecture Series featuring William Neikirk. 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For other uses you need to obtain permission from the rights-holder(s)."]}},"provider":[{"id":"https://iastate.aviaryplatform.com/aboutus","type":"Agent","label":{"en":["Iowa State University"]},"homepage":[{"id":"https://iastate.aviaryplatform.com/","type":"Text","label":{"en":["Iowa State University"]},"format":"text/html"}],"logo":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/004/original/ISULogo.png?1601681107","type":"Image"}]}],"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/103/455/small/lecture.png?1608542029","type":"Image","format":"image/png"}],"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455","type":"Canvas","label":{"en":["Media File 1 of 2 - 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mornings.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=6.95,10.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Bill is a graduate of the University of Kentucky,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=10.06,13.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he plans tonight to discuss the outlook","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=13.06,15.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the U.S. economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=15.17,16.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"particularly as it pertains to the employment sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=16.51,19.543"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience clapping)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=22.425,25.508"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e First thing, Jim, can you hear me okay?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=27.04,30.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is that okay?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=31.356,32.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The first thing Jim told me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=32.31,34.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"he says, \"Don't be like another journalist,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=34.1,35.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get up a long speech and try to read it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=35.49,39.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in front of a bunch of university people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=39.02,42.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who know that you're trying to bamboozle 'em","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=42.18,44.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in some way, but unfortunately,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=44.99,48.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm gonna have to refer to this long piece epistle,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=48.45,52.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I guess I wrote here late one evening,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=52.06,55.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a couple nights ago, just as a matter of notes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=55.37,58.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I would prefer actually,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=58.61,60.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to be sort of an informal discussion.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=60.62,62.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hope we'll have a question and answer period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=62.62,65.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I should lead off and tell you that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=65.75,68.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"first I am not an economist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=68.01,70.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm a journalist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=70.42,71.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have a journalism degree from the University of Kentucky.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=71.253,74.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What credentials I have in the way of expertise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=74.85,78.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in economic policy or on the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=78.3,80.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"comes from merely having covered the story since 1970,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=80.94,85.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as a reporter first, for the Associated Press in Washington,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=85.66,88.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then later for The Tribune.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=88.5,90.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we have a couple of people here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=91.38,94.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who were very active in journalism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=94.04,96.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you know that journalists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=96.16,97.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can become experts very quickly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=97.4,99.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"even though they're not really experts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=99.58,101.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think you'll have to keep that in mind","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=101.78,106.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I go through this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=106.09,107.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and give you all this complicated stuff.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=107.07,109.336"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And remember, I'm not really an expert.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=109.336,112.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know anything about econometric models,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=112.25,114.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how they work, and all that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=114.74,115.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I have some general knowledge of economic policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=115.86,118.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think when I was growing up,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=119.786,120.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"my mom and dad used to tell me how bad it was","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=120.68,124.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/45","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during the Depression and like everyone else,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=124.05,127.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/46","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I sort of, there's no way I could really experience vividly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=127.72,131.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what they went through.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=131.43,132.263"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I said, \"Well of course it was bad and all that.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=132.263,135.607"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/49","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have an 11-year-old daughter now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=137.36,138.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/50","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm always trying to tell her how bad it was","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=138.93,141.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when I was growing up in the '50s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=141.74,143.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in rural Kentucky as a boy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=143.23,146.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I can't really get across that message","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=146.32,149.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to her very well, or very vividly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=149.21,151.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"About the only thing I can say to her","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=151.82,154.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to get her to really understand it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=155.12,156.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I look back in those days, \"Krista,\" I'll say to her,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=156.5,160.117"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"we didn't wear alligators on our shirts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=160.117,162.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and no one had signatures on their derrieres,\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=162.64,164.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and she seems to get that message pretty well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=164.71,168.107"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=168.107,168.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think when we look at the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=168.94,170.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just sort of keeping this in mind,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=170.06,171.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this country is still pretty well off.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=172.69,174.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our levels of income are very, very high.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=175.91,178.823"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Actually, we are probably better off today,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=180.09,182.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you just look at the income levels,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=182.8,185.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than we were 20 years ago.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=185.1,186.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The standard of living is better, actually.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=186.33,188.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's probably more savings than there were 20 years ago,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=191.19,195.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more cars around, more people own homes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=195.14,197.823"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People are much better off,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=199.72,200.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there's perhaps a greater sense of wellbeing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=200.9,205.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than you would think.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=205.08,206.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So why is everybody's so damned scared?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=208.01,209.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We asked that question immediately,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=209.95,212.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think that's a legitimate question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=212.45,215.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As a Kentuckian, I well remember Alben Barkley,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=215.29,219.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who was a former Vice President.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=219.82,221.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Barkley used to tell the story","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=221.46,223.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about how he went to some rural town in Kentucky,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=223.6,226.073"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and met up with a constituent,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=226.92,229.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the constituent sat there and listened very silently,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=230.09,234.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as Barkley began recounting all the things,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=234.7,238.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wonderful things he had done for the district","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=238.28,241.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and for the state, and so on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=241.04,242.017"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the constituent came back and said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=242.017,244.287"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"What have you done for me lately?\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=244.287,246.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think that's the way people think about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=246.55,247.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this economic situation right now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=247.713,250.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They want to know what the economy's doing for them lately,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=250.34,253.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think we would all agree, it's not working too well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=253.22,256.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you here in Iowa would certainly know that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=256.44,260.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you look at the Iowa farm situation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=260.13,263.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how farm prices have fallen very dramatically.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=263.34,266.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A lot of people sort of are looking back and saying,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=266.06,270.858"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is a real Depression going on here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=270.858,272.677"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as far as this one state economy is concerned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=272.677,275.963"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I guess I can anticipate the first question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=277.49,279.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from all of you is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=279.35,280.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's when are the interest rates gonna come down?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=280.39,283.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think I could be honest,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=285.66,287.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and give you a straightforward answer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=289.706,292.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know when the interest rates are gonna come down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=292.96,295.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think anybody knows,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=295.11,296.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and anybody who tells you that they know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=296.41,298.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when interest rates will come down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=298.53,300.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're smoking something else besides corn silks in Iowa,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=300.32,303.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's for sure, because in covering the story","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=303.75,308.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over the past year or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=308.01,309.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think I've seen as many theories in my life","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=309.81,313.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over why interest rates are so high.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=314.62,316.453"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there's probably one,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=317.41,319.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"several of two or three very good, legitimate reasons,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=319.6,324.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as to why this is taking place.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=324.45,326.063"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"First, you can argue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=326.97,328.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the Federal Reserve Monetary Policy is just too tight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=328.81,332.683"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you look at the targets that they have drawn up","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=333.52,336.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the year, you could probably come to the conclusion","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=336.34,340.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that this is not really enough to support real growth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=340.21,343.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the economy of 4 to 5%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=343.65,345.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is what we're all really shooting for.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=345.43,347.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's what the economy is really capable of,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=347.5,350.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over say a long period of time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=350.5,352.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and these targets are not enough to do that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=355.518,358.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and sort of sustain the kind of inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=358.09,359.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we had prior to the last year or so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=359.92,362.513"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So what has happened?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=363.69,365.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've sunk into this very deep recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=365.11,367.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because interest rates shot up very high,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=367.88,369.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it is argued the monetary targets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=369.44,372.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were just too tight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=372.35,374.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Money was too tight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=374.04,375.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, you can take that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=376.57,377.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and maybe that's one reason Paul Volcker says,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=377.54,382.187"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Well, we want it to be tight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=382.187,383.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because we want to find inflation.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=383.62,385.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But look, it's not that tight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=385.49,387.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, there's enough here to accommodate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=387.08,390.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little bit of growth in the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=390.34,392.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/141","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You take, Paul Volcker would say, 5%, 5.5% money growth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=392.9,397.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over a year, that should finance maybe a 8% growth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=400.17,404.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in sort of nominal gross national product,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=404.07,407.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/144","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if you have an inflation rate around 4 or 5%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=407.51,411.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/145","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is where we are right now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=411.69,412.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that gives you some room to grow.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=412.78,414.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You just sort of do the subtracting there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=416.078,417.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You subtract the rate of inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=417.5,418.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from the nominal growth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=418.89,419.797"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/150","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you sort of get an idea of how much real growth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=419.797,422.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/151","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that would accommodate,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=422.41,423.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/152","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but then you go talk to the people in the money markets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=424.46,427.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/153","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they will say, sure the monetary targets are tight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=428.64,430.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but there's something else.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=430.86,431.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's these huge deficits out there facing the country,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=431.88,435.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/156","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and these are there for any number of reasons.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=436.65,438.963"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/157","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well why is it so, we're in a deep recession?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=441.67,443.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/158","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well I mean, the deficit shouldn't be","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=443.49,444.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/159","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a real problem to anybody.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=444.68,446.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When you're in a deep recession, that's what you want.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=447.61,450.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You want deficits to try to pull you out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=450.92,453.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, I said, we're playing a game","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=454.08,457.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of rational expectations here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=457.1,458.257"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think there are a few economists in the audience","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=458.257,460.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who sort of know these key phrases, and these key words.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=460.17,464.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/166","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Maybe a better way to put it is, the financial markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=464.08,467.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/167","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are sort of playing a game of anticipation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=467.63,470.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/168","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're looking at these deficits way down the road,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=470.23,472.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/169","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"three or four years down the road, and they're saying,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=472.44,475.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there's no way that the country can afford these deficits.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=476.84,479.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no way that the government can finance these things","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=481.1,484.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/172","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without interest rates going up,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=484.37,485.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/173","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or inflation just taking off.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=485.56,488.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/174","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one reason this so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=488.5,490.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/175","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think David Stockman said it just a week or so ago.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=490.7,494.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He said that the federal government's credit needs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=494.15,497.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would be something like 56% of all the credit needs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=498.62,502.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/178","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of all the entire economy for the next year, fiscal '83.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=502.09,506.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/179","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's a record amount.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=506.92,507.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's an enormous amount of credit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=507.88,509.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just required by the federal government if it has a deficit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=509.94,513.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if you look in the '84 and '85,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=513.57,516.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you look at deficits that are in the range,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=516.24,518.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say of 140, 150, $160 billion,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=518.72,523.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you can see that the government's financing needs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=525.21,527.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are gonna be great,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=527.57,529.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if any of you have studied public finances,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=529.19,531.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I'm sure some of you have,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=532.927,534.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you will realize the markets are looking at this game,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=534.75,538.137"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're playing this great game of anticipation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=538.137,540.737"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Down the road, things are really gonna be terrible.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=541.92,544.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The government's gonna require all,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=544.68,546.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"take all this credit right out of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=546.96,549.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that means interest rates are gonna be up,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=549.17,552.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or if the Federal Reserve decides to accommodate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=552.02,555.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all this huge deficit,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=555.05,558.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's gonna mean huge inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=558.4,560.203"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you get this huge situation of uncertainty,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=561.6,566.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the markets don't know what's gonna happen","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=567.1,568.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"three or four years down the road.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=568.92,570.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So what happens?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=570.16,571.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They act to keep interest rates up,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=571.73,573.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's a game of anticipation, and it's psychology.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=573.43,577.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a negative psychology, but it's the kind of thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=577.99,580.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I think that's occurring right now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=580.43,583.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now some people would make the argument,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=583.21,584.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this is a little bit of a technical question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=584.81,586.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like answer, actually, there are short-term interest rates,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=586.65,590.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which say businesses","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=590.7,593.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say use to borrow for short-term capital needs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=595.63,600.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like financing inventories, and short-term needs, and so on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=600.89,605.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's what the prime rate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=605.54,606.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all of the short-term rates are about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=606.74,609.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and those rates are very, very high.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=609.58,611.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What appears to be occurring now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=612.59,614.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that because of all these fears,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=615.33,618.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"two or three years down the road,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=618.05,619.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's about the level of financing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=619.36,622.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the fears about inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=622.12,624.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What all is this gonna mean?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=624.34,625.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"'Cause all the companies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=625.45,626.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are going into the short-term market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=626.76,628.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're borrowing there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=628.2,629.873"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The bond market is virtually shut down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=630.75,632.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because of this game of anticipation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=632.48,634.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm not really following the speech.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=634.85,639.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hope you don't mind.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=639.04,640.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's probably better this way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=640.3,641.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for me to stutter through this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=641.97,643.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it's what I know, it's what I deal with every day,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=643.21,646.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's much easier this way.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=646.84,648.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the businesses in this company","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=649.68,653.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are caught in the short-term, high interest rate game,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=653.5,656.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because they're afraid to sort of look down the road","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=656.07,658.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little bit, and that's also creating huge problems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=658.68,663.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You need to go into long-term market businesses do","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=663.17,666.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for investment purposes, and they're not doing that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=666.14,669.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's some evidence by the way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=669.1,670.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the companies are going overseas more to borrow money,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=670.32,673.183"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because interest rates over there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=674.81,675.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are a little bit lower.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=675.85,676.683"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think they can borrow in the so-called Eurobond market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=676.683,681.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the interest rates are lower overseas,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=681.11,682.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're pulling a little bit of that money","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=682.59,686.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on a long-term basis in there,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=686.26,688.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but you see what this is doing to corporations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=688.03,690.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is the reason why this thing is so fragile now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=690.7,693.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you borrow in the short-term market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=694.24,695.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where these rates are higher,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=695.74,697.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that raises your interest costs tremendously,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=697.35,699.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that raises your debt service costs tremendously,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=699.61,702.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and therefore it cuts into your profits,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=702.05,704.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if you continue this game,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=704.58,706.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over, and over, and over again,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=706.61,708.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you can see where companies would go shorter,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=709.69,711.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and shorter, and shorter,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=711.7,712.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and get yourself in a very fragile situation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=712.58,715.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think these are just some of the reasons","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=715.28,719.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"why there's great concern","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=719.0,720.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the fragility of this economy, at this point.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=720.67,723.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I interviewed Felix Rohatyn just about six weeks ago, or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=723.72,728.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he particularly is very concerned about this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=731.87,734.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a huge mountain of short-term debt,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=734.423,736.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sort of piling up in our economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=736.46,738.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he wonders when corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=738.47,740.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are gonna be able to stretch it out more,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=740.53,743.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to cut down this debt service that they have.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=743.04,745.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When are their balance sheets are gonna be able","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=746.4,747.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to get better, he wonders,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=747.8,749.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he also worries about this is a problem for cities,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=749.55,753.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and counties, and states too,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=753.73,755.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because they borrow typically in the long-term market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=755.17,759.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if you talk to these folks in the market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=759.15,763.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"believe me, you will get very depressed after a while,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=763.26,766.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you begin to wonder whether we really are headed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=766.45,769.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into some sort of a depression.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=769.14,770.703"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't want to depress anybody here tonight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=775.7,777.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm probably going to,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=777.65,778.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so I might as well just go ahead and plunge into it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=778.86,781.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I've written some about this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=781.47,783.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think there's some validity to it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=783.79,786.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When you look at the situation I just described,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=786.33,789.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and look at the Federal Reserve Board policy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=789.8,792.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is keeping short-term rates up very, very high,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=792.77,796.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at this point, you began to wonder","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=796.17,798.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whether we're headed into a situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=799.84,801.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where we have a series of continuous recessions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=801.49,805.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We had one in 1980.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=805.34,807.003"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It wasn't really officially described as a recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=809.21,811.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it was pretty damn close to it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=811.75,814.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In 1981, we had another recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=815.23,817.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which was officially described as a recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=817.39,821.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're having one right now in '82.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=821.73,824.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you see that's not a very good track record.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=824.19,827.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"With each recession, as we've gone along,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=827.04,829.233"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"unemployment has started out a little bit higher.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=830.53,833.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now we're up to about, I think about 9.5%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=833.5,838.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and moving upward.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=838.68,839.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we are getting into a recovery situation now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=840.81,843.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We probably are gonna have a recovery with the tax cut,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=843.48,846.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and with the fact that people are gonna get","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=846.86,850.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little more spending money,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=850.37,851.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because inflation is down a little bit,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=851.67,854.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's gonna pick up a little bit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=854.21,856.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The evidence indicates it's gonna pick up a little bit,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=856.55,859.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but suppose you go for five, six, eight months","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=859.66,864.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with recovery, and the interest rates shoot up again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=864.07,868.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Short-term rates hit 18, 20% again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=868.4,872.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think you're into another situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=872.66,874.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where those credit sensitive markets, like automobiles,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=874.4,879.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and those big durable goods get clobbered again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=879.02,882.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Construction gets clobbered again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=882.36,884.533"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Farming perhaps gets clobbered again,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=885.5,887.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you're into another recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=887.37,889.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but several things happen.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=889.43,891.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"First thing that happens is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=891.97,893.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"those balance sheets of corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=894.86,897.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"never fully recover from the last time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=897.41,899.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're still playing this anticipations game,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=899.68,901.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"still in the short-term market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=901.98,904.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"still worried about the deficits down the road,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=904.29,907.393"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and their profits never recover,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=908.34,910.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they get clobbered by another recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=910.74,913.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's great fear there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=913.75,914.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you might have more bankruptcies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=914.77,916.943"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A lot of companies, the analysts tell me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=918.62,920.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that are in a very bad situation right now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=920.79,923.343"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm prepared to believe them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=924.64,925.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Although we don't have access to the books","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=925.97,929.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of many of these corporations when we need them,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=929.01,932.293"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the situation with International Harvester.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=934.38,937.953"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Someone mentioned another one tonight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=940.26,942.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sort of a farm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=942.22,943.468"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Massey Ferguson.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=943.468,944.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Yeah Massey's, as you know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=944.58,945.797"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know about Braniff and all those.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=945.797,948.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And another factor about this, is you're starting out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=948.46,953.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you assume that if you're gonna dip again","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=955.94,958.093"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into another recession, say next year, which God forbid,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=958.093,962.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you start out with a higher unemployment level.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=962.57,964.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So say you start with nines,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=964.41,967.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"suppose unemployment recovers a little bit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=967.26,969.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You start with nine this time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=969.43,970.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"instead of seven the last time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=970.71,972.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You might shoot up to 10 or 11.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=973.4,975.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now when you shoot to 10 or 11,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=975.05,977.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think you can very legitimately ask the question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=977.02,980.097"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Are we in a depression?\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=980.097,982.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't see anything like we had in the 1930s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=982.09,986.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where you really had a real financial collapse.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=986.38,988.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, there are more protections in the system now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=988.83,990.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've got deposit insurance, we've got banks more wary,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=990.83,995.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a little bit tougher with their loans now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=996.62,998.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than they were.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=998.77,999.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Stocks are not bottling the kind of thin margins","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1002.601,1004.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they were in the '30s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1004.61,1006.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that a stock market collapse of the kind that we had,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1006.4,1011.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where people suddenly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1012.05,1013.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"very swiftly lost a lot of wealth quickly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1013.66,1016.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think we're gonna have anything like that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1016.12,1018.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but if you're just talking about my darkest fears,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1018.52,1021.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm just concerned that we'd get into the situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1022.6,1025.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where this whole thing just gets ground down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1025.67,1028.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/364","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"gets ground down into another,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1029.22,1030.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/365","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"something that will be called a Depression,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1030.6,1032.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/366","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe right on the edge, 10, 11, 12% unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1032.69,1036.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/367","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then what happens if that happens?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1036.1,1039.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1039.6,1040.433"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think many of the economists I talk to,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1040.433,1043.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/370","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"tell me that if that were ever to happen,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1043.26,1048.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/371","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the political system would step in.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1048.24,1051.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/372","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You would have a big tax cut.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1051.52,1054.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/373","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You would have more spending programs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1054.04,1056.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/374","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You would have something to counter it very quickly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1056.72,1059.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/375","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to pull us out of it, but then you gotta ask the question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1059.44,1064.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/376","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if that happens,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1064.09,1065.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/377","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're already in a terrible financial situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1065.45,1068.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/378","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with respect to the budget deficit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1068.33,1070.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/379","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How would the markets react then?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1071.57,1073.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/380","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you try to pull it out suddenly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1073.14,1074.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/381","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with a great big tax cut and, and all that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1074.58,1078.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/382","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wouldn't that mean more inflation down the road?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1078.83,1081.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/383","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's not a very pretty picture, but as a journalist,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1081.67,1084.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/384","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I have a responsibility to tell it as it is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1084.94,1087.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/385","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and worry like everyone else is probably in this room","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1087.8,1089.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/386","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is worrying tonight about it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1089.87,1091.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/387","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You probably know all this stuff already,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1091.33,1093.383"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/388","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all I'm probably doing is feeding your fears,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1094.66,1098.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/389","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I hope you don't go away too depressed tonight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1098.92,1103.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/390","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there's another side of it though.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1103.76,1106.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/391","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is my happy side coming out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1107.37,1109.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/392","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is the Ronald Reagan view of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1109.88,1113.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/393","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think at this point.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1113.7,1114.833"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/394","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It goes something like this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1117.0,1118.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/395","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let's see if I can reconstruct it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1118.13,1119.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/396","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without looking at these notes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1119.39,1122.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/397","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"First he says, \"Inflation has come down","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1122.12,1124.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/398","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the Fed has been very tough.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1124.04,1125.997"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/399","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That means that folks are gonna have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1127.3,1129.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/400","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a lot more real income to spend.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1129.93,1131.713"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/401","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that on top of the tax cuts on July 1st,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1134.46,1138.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/402","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the first real phase of those big individual tax cuts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1138.14,1141.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/403","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is gonna give a boost to the recovery.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1141.27,1143.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/404","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Inflation is held down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1144.12,1145.623"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/405","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We don't have a prospect,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1146.54,1149.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/406","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"any kind of big oil shock out there,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1149.09,1151.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/407","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"although the oil glove has disappeared,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1151.56,1153.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/408","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but no big shock yet,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1153.67,1154.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/409","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so we have to cross our fingers over that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1154.76,1156.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/410","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's gonna be nice crops out of Iowa this year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1158.18,1160.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/411","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so no big food price increases,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1160.53,1162.903"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we've got inflation held down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1163.96,1166.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People are gonna have more income.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1166.15,1167.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're gonna pull out of this recovery, and corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1167.75,1171.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are gonna have their balance sheets restored,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1171.79,1175.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/416","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"profits are gonna come back.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1175.36,1178.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/417","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Interest rates will not go up, they'll come down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1178.03,1180.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/418","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no real clash with the Fed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1180.07,1181.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/419","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is the administration's point of view now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1181.66,1183.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/420","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the targets will allow us enough room for growth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1183.91,1187.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/421","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We'll muddle through for a year or so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1187.8,1189.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/422","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Come the second year of the tax cuts the following year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1189.94,1193.343"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/423","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the economy will really take off.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1194.6,1196.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/424","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Corporations will get out of this game","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1196.21,1197.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/425","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I've been talking about earlier,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1197.94,1199.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/426","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the short-term debt problem.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1199.25,1201.533"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/427","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There'll be more confidence.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1202.41,1203.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The markets will finally believe","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1203.81,1206.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/429","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the Federal Reserve is out there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1206.26,1207.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/430","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to keep the monetary targets tight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1207.74,1210.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/431","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and inflation is gonna be controlled.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1210.2,1212.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/432","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The anticipations game about inflation will be over,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1212.14,1215.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/433","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this problem will be cured within a year or two.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1215.14,1218.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/434","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that's probably pretty close,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1218.71,1221.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/435","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just sort of in a general way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1221.75,1224.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the way the business community hopes it will come out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1224.22,1228.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's probably the way we should all hope it'll come out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1228.39,1230.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because right now, I don't see any prospect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1230.82,1233.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for any other policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1233.36,1234.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/440","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Suppose Reaganomics fails","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1235.51,1237.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/441","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within the next three or four months.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1237.93,1239.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What then, what are we going to do?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1239.49,1241.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One of my guests for dinner says,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1243.68,1244.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/444","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we ought to have wage and price controls.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1244.9,1247.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/445","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't see this administration doing anything like that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1247.23,1250.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no prospect of that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1250.17,1251.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There may be some prospect of credit controls,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1253.82,1256.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but this administration is philosophically","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1256.04,1260.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just opposed to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1262.29,1263.123"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're just totally opposed to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1263.123,1265.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Someone once told me that they were studying credit controls","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1265.56,1269.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the Council of Economic Advisors,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1269.98,1271.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I tried to find out if it was true,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1271.72,1273.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and everyone around me denied that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1273.32,1276.783"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's perhaps a possibility.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1277.7,1279.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/456","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Carter, you remember, tried those things in 1980,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1279.42,1283.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/457","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think, yeah, 1980,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1283.78,1286.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it was a disastrous attempt,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1286.26,1289.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all the credit just suddenly dried up,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1289.53,1293.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/460","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the economy just sunk like a rock","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1293.95,1295.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/461","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for about three or four months or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1295.9,1298.479"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/462","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before Carter says, we're gonna take the controls off,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1298.479,1301.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/463","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then the Fed loosened up as well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1301.28,1303.683"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/464","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hope everybody here has some sort of working knowledge","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1304.951,1307.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/465","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the Federal Reserve and all that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1307.22,1309.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/466","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know it's a very intelligent group,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1310.92,1312.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/467","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I don't want to talk over anyone's head,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1312.57,1315.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I don't think I really am, to tell you the truth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1315.27,1318.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I may be probably, perhaps talking down to you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1318.46,1321.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Someone once made a remark about Paul Volcker,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1321.8,1324.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who's about 6'7\", looks 6'10\" to me.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1324.39,1328.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/472","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's the only man that can talk down to you,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1328.22,1330.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/473","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and over your head at the same time, and you can take that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1330.14,1332.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to about two or three levels, actually.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1332.75,1334.723"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, you've heard about all this rhetoric, I think.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1336.95,1340.003"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Nancy Teeters, who's the only woman member","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1342.48,1344.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Federal Reserve Board,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1344.68,1346.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"once told me a story about who's to blame for all this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1346.04,1349.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and she said, when Reagan came into office,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1349.76,1353.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Jimmy Carter handed him three envelopes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1353.2,1356.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"said, \"These are envelopes for you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1356.06,1357.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you get into deep trouble.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1357.66,1359.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so Reagan went along, and the first few months","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1360.71,1363.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the Presidency, and a crisis came up of some kind,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1363.55,1366.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/485","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he opened the first envelope, and it said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1366.63,1369.187"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/486","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Blame the previous administration.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1369.187,1371.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/487","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So he went out and did that, it worked.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1371.47,1373.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/488","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that worked for a while, and a few months later,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1374.65,1378.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/489","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"another crisis came along,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1378.09,1379.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/490","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he opened the second envelope, and it says.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1380.5,1382.537"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/491","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Blame the Federal Reserve.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1382.537,1384.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/492","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So he went through that whole routine,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1384.64,1386.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/493","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that seemed to work for a while,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1386.08,1387.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/494","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and got him sort of a nice little scapegoat,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1387.39,1390.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/495","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"got him away from all his problems for a while.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1391.54,1394.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/496","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But then, here we got this interest rate situation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1394.86,1397.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/497","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then the recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1397.64,1399.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/498","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So he opened up the third envelope and it says,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1399.09,1400.987"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/499","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Get three new envelopes.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1400.987,1402.926"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/500","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(everyone laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1402.926,1405.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/501","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think, you've heard all this rhetoric,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1405.38,1407.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/502","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Reagan has blamed the Carter administration,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1407.93,1411.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/503","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"he's blamed the Fed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1411.26,1412.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/504","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The Democrats are trying to blame the Reagan administration.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1412.78,1415.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/505","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Actually, if you want my view of it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1417.11,1418.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/506","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is probably not worth too much,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1418.5,1420.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/507","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there's somewhat both to blame for this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1421.86,1424.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/508","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think during Carter's years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1425.49,1426.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/509","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think Carter had a great opportunity.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1426.7,1428.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/510","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He came in there, he was an elected president,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1428.54,1433.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/511","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which Ford wasn't.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1433.26,1434.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/512","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He had, I think, a very strong following","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1435.55,1438.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/513","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for a time in the honeymoon period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1438.86,1440.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/514","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He could have done something in that first year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1440.75,1442.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/515","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to curtail federal spending,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1442.31,1445.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/516","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to look at the entitlements programs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1445.02,1447.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/517","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which were just beginning to show signs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1447.6,1449.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/518","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of running out of control,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1449.53,1450.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/519","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and to bring some control over the deficit,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1450.64,1453.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/520","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that you wouldn't have had this situation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1453.18,1455.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/521","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"three or four years down the road, and he didn't do it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1455.38,1457.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/522","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"His response was to go into a very strong expansionary stage","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1457.7,1462.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/523","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to bring unemployment down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1462.73,1464.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/524","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and of course he did that for a few years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1464.09,1466.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/525","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he had a fellow named Bill Miller,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1467.71,1471.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/526","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who he appointed Chairman of the Federal Reserve Board.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1471.01,1474.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/527","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I like Bill Miller very much personally,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1474.53,1476.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/528","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think he was disaster there,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1476.15,1478.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/529","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he followed very erratic policies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1478.51,1481.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/530","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the Federal Reserve.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1481.73,1483.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/531","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As a consequence, I think, because of his policies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1483.53,1486.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/532","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Carter's policies, we've got inflation accelerating,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1486.02,1489.063"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/533","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I don't care what anybody says.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1489.96,1491.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/534","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think Carter has to take some responsibility","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1491.27,1494.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/535","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the fact that OPEC raised its prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1494.1,1497.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/536","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so sharply in 1980, and if you follow","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1497.1,1502.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/537","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a sort of irresponsible domestic policy at home,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1502.21,1505.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/538","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you're inviting this kind of trouble internationally,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1505.87,1508.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/539","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we're all linked, and we're all interdependent,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1508.28,1511.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/540","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we have take that into account.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1511.29,1514.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/541","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just really firmly believe that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1514.09,1516.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/542","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and so I think Carter bears some of the blame for this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1516.19,1520.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/543","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but on the other hand, Reagan came into office,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1520.93,1523.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/544","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he had this grand plan for our supply side tax cuts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1523.52,1527.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/545","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and business tax cuts, known as 10, 5, 3,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1527.38,1530.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/546","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he had to have these tax cuts.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1531.35,1533.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/547","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He firmly believed that this was the salvation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1533.03,1537.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/548","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for our economy at this time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1537.07,1538.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/549","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he had an opportunity, I think,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1539.95,1542.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/550","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to calm the situation down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1542.25,1543.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/551","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but he charged full speed ahead.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1543.98,1547.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/552","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think Ronald Reagan really thought","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1547.37,1549.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/553","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that he would ever get the tax program through","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1549.2,1551.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/554","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in its original form, when he first proposed it to the Hill.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1551.42,1555.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/555","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I remember very vividly, the Wall Street Journal","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1555.11,1557.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/556","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"reporting about February a year ago,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1557.02,1561.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/557","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that Kemp-Roth doesn't have a chance in hell of passing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1561.4,1564.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/558","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it did.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1564.54,1565.373"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/559","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, he got his act together.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1565.373,1567.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/560","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He was a wonderful communicator, and it passed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1567.39,1570.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/561","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it passed, I think to his surprise,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1570.23,1571.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/562","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the whole program passed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1571.86,1573.886"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/563","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think that's when we really got into","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1573.886,1576.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/564","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this anticipations game, because people look down the road,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1576.31,1579.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/565","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the tax cut itself, the total tax bill,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1579.81,1582.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/566","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with all the things init was $754 billion over five years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1582.04,1586.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/567","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you can look at it over three years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1586.92,1589.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/568","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the markets looked at that and said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1589.54,1593.707"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/569","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"That means one thing, that means more inflation,\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1593.707,1596.207"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/570","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the Federal Reserve says, \"No it doesn't,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1597.87,1599.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/571","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because we're gonna keep interest rates pretty tight.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1599.87,1602.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/572","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so it didn't mean more inflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1602.41,1603.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/573","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it meant high interest rates.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1603.97,1605.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/574","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think an analyst I talked to about a week or two ago,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1607.57,1611.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/575","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"David Jones of Aubrey Langston and Company described it best","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1612.57,1615.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/576","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when he said, \"They just tried to do too much too soon.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1615.15,1617.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/577","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the country at the time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1619.09,1620.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/578","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would have preferred a more centrist kind of policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1622.32,1625.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/579","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Sure we needed perhaps a tax cut,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1625.39,1627.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/580","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but not as big as they gave us.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1627.78,1630.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/581","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Sure we needed some business tax cuts","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1630.02,1632.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/582","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to provide incentives for investment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1632.04,1634.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/583","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but not this 10, 5, 3 program, which is more generous","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1634.54,1637.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/584","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than even taking what they call expensing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1639.02,1642.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/585","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is in effect, if you just straight counted","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1642.33,1647.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/586","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as a straight expense,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1648.08,1648.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/587","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is even more generous than that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1648.98,1650.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/588","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a business subsidy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1650.83,1652.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/589","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a subsidy to business as such.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1652.23,1654.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/590","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Of course a business tax cut doesn't mean much right now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1654.35,1656.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/591","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because nobody's investing anyway, because nobody's buying,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1656.53,1659.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/592","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so it doesn't really mean much at this point.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1659.09,1661.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/593","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I don't think anybody has to worry about that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1661.96,1663.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/594","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until that happens.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1663.68,1664.633"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/595","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Reagan's argument that he's not at fault,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1668.03,1670.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/596","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is I think a little bit disingenuous on this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1670.89,1673.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/597","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but he's in office, and you have to do that I suppose,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1673.91,1678.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/598","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was particularly when you're election year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1679.07,1681.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/599","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I don't want to, maybe since the tape recorder is on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1681.52,1686.426"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/600","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I probably shouldn't say this, but I talked with,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1686.426,1689.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/601","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it was on background,,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1689.11,1690.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/602","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I talked with David Stockman just last night,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1690.84,1693.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/603","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you remember him.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1693.31,1694.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/604","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's still there in Washington, still working, good David.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1694.92,1698.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/605","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's of the opinion that this Reagan's original hope","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1700.64,1705.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/606","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of an economic revitalization, very quickly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1706.17,1710.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/607","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"probably has been pushed back by at least a year or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1710.14,1712.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because of the recession and the big deficits,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1712.88,1717.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/609","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think maybe even this hope will be misplaced,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1718.36,1721.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/610","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but Stockman, I mean, he thinks it was a miscalculation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1721.17,1726.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/611","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the sense that they miscalculated the very sharp decline","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1727.67,1731.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/612","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in inflation and the big recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1731.84,1733.803"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/613","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He said they had no idea that this was gonna occur","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1734.78,1736.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/614","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this quickly, and we could have all told them, I think,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1736.9,1740.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/615","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that's the way it happened.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1740.72,1742.373"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/616","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've been covering the deficit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1745.09,1746.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/617","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, the budget for the past two or three weeks.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1746.24,1749.643"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/618","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's a pretty boring story, actually.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1751.21,1752.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think people are really interested in it too much,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1752.87,1755.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"even though it's very important.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1755.03,1756.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/621","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Economic creditors get into the situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1756.76,1758.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/622","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where we have what we call DBI stories, Dull, But Important,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1758.75,1763.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/623","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and every time I write one,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1763.72,1766.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/624","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I'm probably turning off everybody in America,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1766.15,1768.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's probably true.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1768.61,1769.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/626","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I probably am, but this is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1769.58,1772.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/627","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think this budget fight going on now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1772.82,1774.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is extremely important for the country,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1774.96,1777.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/629","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it involves sort of setting overall limits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1777.17,1779.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/630","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of where we're gonna go in the next year or two,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1779.82,1782.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/631","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with respect to spending.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1782.22,1783.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/632","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, it may not be worth much later on in the year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1784.45,1787.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/633","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when they get down to the actual decisions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1787.29,1790.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/634","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on where to cut spending and so on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1790.71,1793.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's important to go through this exercise,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1793.03,1796.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and sort of set some discipline for yourself.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1796.2,1798.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/637","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I think we probably understand the budget","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1800.56,1802.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/638","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little bit better, if we looked at a couple of areas.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1802.87,1805.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one of my favorites is defense spending.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1805.6,1809.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know what Reagan is doing to the defense budget.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1811.49,1815.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's talking about an increase in the range of,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1815.36,1818.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oh, over and above inflation, in the range of 10% or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1818.42,1822.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in this committee fight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1822.7,1824.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're talking about cutting it back,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1824.89,1826.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/645","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say $25 billion or so over three years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1826.75,1829.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/646","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's still out of control.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1830.94,1832.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No one's ever really looked","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1833.5,1834.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the defense budget yet seriously,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1834.72,1836.451"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm not sure they ever will.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1836.451,1839.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They call Cap Weinberger, \"Cap the Knife,\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1839.27,1841.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's probably the most misplaced name in Washington.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1841.93,1845.723"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think he has lived up to his reputation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1847.09,1850.393"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're talking big league waste over there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1851.69,1854.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's not just waste, it's just throwing money at everything.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1854.06,1858.723"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This weapon system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1860.068,1862.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that weapon system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1862.67,1864.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all the things we had in the past,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1864.0,1865.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without regard to any sort of overall coherence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1865.81,1869.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as to what effect this is gonna have,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1869.23,1871.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whether this is the kind of war","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1871.55,1872.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're gonna be fighting in the future.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1872.71,1875.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's just throwing more money at everything.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1875.0,1877.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I want to wait for your tape there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1878.16,1880.352"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(everyone laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1880.352,1883.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Seriously, we really have too many weapons systems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1883.81,1885.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in this country,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1885.9,1886.733"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm sure we don't have a coherent strategy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1889.48,1892.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to deal with the needs of the 1980s and the '90s.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1892.73,1896.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I asked Stockman the question last night","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1897.33,1899.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the Arch, and then the British, then the Harriers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1899.59,1904.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have more sophisticated radar guns on board","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1908.9,1911.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to take care of that thing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1911.75,1913.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but so far as I can tell, I mean,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1913.38,1915.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's just one comment by Stockman,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1915.71,1917.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but as far as I can tell,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1917.81,1919.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there's been no big re-evaluation of that whole concept","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1919.5,1924.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for a 600 ship Navy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1924.8,1926.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think they're talking about 15 carrier groups,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1926.77,1930.233"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"after that one incident involving the French missile,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1931.32,1933.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which came in and bam, knocked out the British destroyer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1933.73,1937.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There was a lot of stuff in the press about it at the time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1937.04,1939.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm not so sure that the Pentagon","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1939.66,1940.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has really gone into it and said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1940.96,1942.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do we need this many ships now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1942.79,1944.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It certainly hasn't forced that re-evaluation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1946.04,1948.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm sure, because there was just a story in the paper","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1948.45,1950.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the other day with the Pentagon defending itself,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1950.79,1953.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we'd still need a 600 ship Navy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1953.55,1955.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because we can protect against missiles like this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1955.07,1957.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I think maybe we're talking about something more here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1958.75,1961.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we're talking about a situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1961.1,1964.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where the three services are trying to protect themselves,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1964.4,1967.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and their own weapons systems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1967.24,1968.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A lot of careers are involved,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1968.48,1970.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we have officers who do nothing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1970.42,1973.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but spend their whole careers working on one weapon systems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1973.49,1976.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/697","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Their salaries are at stake.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1976.29,1977.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/698","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This whole thing about the inner service rivalry,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1979.52,1982.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/699","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's never been looked at.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1982.2,1983.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/700","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's never been looked at.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1983.37,1984.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/701","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've never really looked at very seriously,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1984.97,1986.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/702","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what they call the iron triangle,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1986.55,1988.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/703","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which are defense contractors, members of Congress,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1988.5,1991.593"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/704","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the White House sort of get in a league together,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1992.45,1996.617"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/705","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Tip O'Neill can rail about the military budget","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=1996.617,2001.617"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/706","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all he wants to,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2001.97,2003.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/707","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but when it comes to cutting tip O'Neill's defense budget,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2003.11,2005.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/708","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and his defense contracts in Massachusetts, forget it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2005.8,2008.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/709","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's sacred cow.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2008.63,2010.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/710","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Jim Wright can do the same thing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2010.22,2012.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/711","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"talk about military waste somewhere else,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2012.45,2014.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/712","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but when it gets to General Dynamics in Texas,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2014.94,2017.757"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/713","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you better believe that Jim Wright","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2017.757,2019.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/714","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does not want any cuts there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2019.11,2021.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/715","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Same thing with Alan Cranston in California.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2021.48,2024.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/716","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You should hear Alan Cranston defend the B-1 Bomber.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2024.06,2026.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/717","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, it's the greatest plane on earth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2026.82,2028.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/718","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think what I'm describing here is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2028.22,2032.654"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/719","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is what we're living through,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2032.654,2034.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/720","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I don't know how to reform this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2034.1,2035.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/721","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm not so sure that the press","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2035.58,2038.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/722","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has done a good job with it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2038.83,2039.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/723","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I could be somewhat of a critic of the press.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2039.87,2042.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/724","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our own paper did a series on this last year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2043.11,2045.493"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/725","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I didn't see too many other papers follow up on it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2047.15,2051.953"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/726","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I can be a critic of my own newspaper.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2054.19,2056.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/727","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think we have followed up the details","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2057.18,2059.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/728","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of some of these weapons systems enough,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2059.483,2061.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/729","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to point out what specific weapon systems may be obsolete.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2061.37,2065.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/730","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're talking about a lot of dull, boring details,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2067.7,2070.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/731","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and reporters in Washington","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2070.42,2072.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/732","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do not like to deal with dull, boring details,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2072.06,2074.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/733","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which are important to the American people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2074.51,2076.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/734","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What they like to deal with, are the political fortunes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2076.5,2079.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/735","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of Ronald Reagan, the politics of the budget,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2079.86,2083.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/736","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm guilty of some of this myself,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2083.95,2085.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/737","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think it's the kind of thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2085.49,2086.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/738","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we need to be concerned with in journalism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2086.73,2089.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/739","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the dull, boring details about this weapon system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2089.28,2093.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/740","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that weapon system, this program, that program,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2093.11,2096.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/741","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what's being wasted and what is not being wasted.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2096.36,2099.303"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/742","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Unfortunately, we don't have that many people in Washington","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2100.14,2102.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/743","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to do the kind of job I'm talking about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2102.54,2104.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/744","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's one of the problems here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2104.18,2106.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/745","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Back to the budget, a little bit,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2107.77,2109.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/746","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"talking about politics of the budget and Social Security,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2111.95,2114.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/747","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and many of you folks have already read a lot about this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2114.6,2117.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/748","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this year, and I don't want to give you the boring details,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2117.51,2119.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/749","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think just one thing I would like to say","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2119.88,2124.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/750","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about this whole Social Security,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2124.44,2125.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/751","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Medicare Medicaid fight,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2125.91,2128.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/752","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I think it was clear,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2128.39,2129.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/753","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's clear now to many thoughtful Republicans","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2129.76,2132.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/754","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Democrats alike, that something needs to be done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2132.15,2134.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/755","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to reform these entitlement programs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2134.27,2136.773"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/756","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's been pointed out to me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2137.89,2138.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/757","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that only about 20% of the people on Medicaid,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2138.913,2143.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/758","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are really actually poor, and all the rest of it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2143.76,2147.493"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/759","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One example, which was pointed out to me is that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2150.31,2152.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/760","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a guy who works ONB says,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2152.97,2154.267"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/761","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"You know, theoretically I could sign,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2154.267,2158.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/762","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get my mother on Medicaid.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2158.41,2161.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/763","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"She, after she hits a certain age,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2161.0,2164.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/764","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"simply declare poverty, and sign all her assets to me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2165.46,2168.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/765","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I could get her into a nursing home,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2168.75,2171.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/766","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and let Medicaid take care of her.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2171.72,2175.063"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/767","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think this administration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2178.96,2180.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/768","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will touch things like that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2180.18,2181.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/769","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's really going on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2181.71,2183.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/770","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think the press needs to look at that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2183.24,2185.827"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/771","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The people need to be more aware about things like that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2185.827,2188.627"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/772","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think what is not getting very close attention too","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2190.08,2192.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/773","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is all these tax loopholes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2192.43,2194.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/774","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that are built into the tax system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2194.57,2197.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/775","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think if we want to try to deal with the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2197.66,2199.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/776","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we ought to really start looking at those very closely.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2199.77,2202.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/777","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are billions of dollars there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2202.36,2204.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/778","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Many of those are favorable to you and me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2204.06,2206.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/779","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the mortgage tax break that we get,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2206.0,2209.353"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/780","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the medical break that we get,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2210.38,2213.096"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/781","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all the deductions we're able to take","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2213.096,2215.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/782","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on our itemized forms, on taxes and all that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2215.41,2219.403"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/783","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I'm not just talking about that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2220.55,2221.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/784","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm talking about all the business incentives","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2221.83,2224.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the special breaks that the oil industry gets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2224.77,2228.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"losing corporations get a lot of tax breaks.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2228.48,2231.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/787","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The Tax Code is just riddled with these things,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2231.89,2233.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/788","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think when you get into a potential economic crisis,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2233.78,2236.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/789","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like we're getting into, I think the American people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2236.9,2239.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/790","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hope, will finally recognize that the time has come","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2239.56,2243.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/791","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to reform the system, and since it is causing interest rates","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2243.14,2247.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/792","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to stay high, we're gonna have to take a look at it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2247.79,2250.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/793","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"finally. once and for all.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2250.63,2252.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/794","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know how we're doing on time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2252.87,2254.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/795","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the way, but there's one thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2254.07,2256.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/796","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I really wanted to talk about tonight, in particular.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2256.91,2260.763"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/797","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'll take just a second longer on supply side economics,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2262.56,2265.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/798","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Reaganomics, and all that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2265.88,2267.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/799","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then I want to get into it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2267.19,2269.273"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/800","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think a couple of the results of Reaganomics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2270.74,2273.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/801","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've seen so far, several of 'em, is that everyone knows","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2273.03,2278.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/802","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about what's happened to unemployment, up to 9.5%.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2278.2,2280.813"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/803","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think disinflation is another thing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2283.25,2286.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/804","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think we really mentioned,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2286.1,2287.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/805","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and by that I don't mean deflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2287.55,2289.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/806","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the sense that inflation is actually declining,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2289.47,2291.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/807","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the rate of inflation has come down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2291.35,2294.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/808","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Inflation is still rising,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2294.03,2295.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/809","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's not rising as fast as it once was.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2295.15,2297.623"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/810","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We were talking about this over dinner tonight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2298.64,2301.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/811","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Suppose you were someone who had just purchased a home,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2301.02,2304.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/812","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say last year, and a mortgage of 17.5%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2306.05,2311.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/813","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you're paying monthly payments of, I don't know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2311.73,2314.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/814","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"$1,000 a month, and some people are now, and more,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2314.43,2318.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/815","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you had counted on your income going up","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2318.36,2321.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/816","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by 8 or 9% a year, because inflation was that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2321.61,2325.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/817","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that was sort of the average wage increase,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2325.33,2327.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/818","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and counting on getting this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2327.78,2330.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/819","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"ad infinitum out to 30 years from now, 8 or 9%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2330.36,2333.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/820","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I could figure that, well, I'm gonna be stretched this year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2333.93,2338.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/821","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and next year, but after about five years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2338.5,2341.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/822","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"these payments are not gonna look so bad,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2341.92,2344.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/823","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a lot of folks did that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2344.57,2346.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/824","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They bet on inflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2346.57,2348.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/825","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and suddenly we got this sharp fall off and disinflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2348.14,2351.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/826","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think those folks caught,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2352.89,2355.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/827","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a lot of people were being hurt by this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2355.12,2359.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/828","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's hard to quantify it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2359.24,2361.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/829","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think we really know how many people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2361.55,2363.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/830","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are in this category.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2363.08,2365.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/831","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It just doesn't affect people who have bought houses,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2366.08,2369.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/832","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's affected a lot of corporations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2369.68,2372.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/833","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One, I think is Textron.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2372.35,2373.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/834","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Someone told me that Textron was a company.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2373.55,2376.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/835","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's Bell Helicopter, isn't it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2377.68,2379.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/836","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some of you experts, yeah.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2379.58,2381.103"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/837","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They were in a situation where they borrowed very heavily,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2382.11,2384.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/838","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like this betting on inflation in the '70s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2384.49,2387.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/839","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and suddenly they find their balance sheet's","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2387.6,2389.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/840","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in pretty bad shape, inflation coming way down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2389.15,2391.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/841","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you see, I think when you get in a climate like this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2393.78,2398.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/842","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you get businesses very concerned about costs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2398.04,2401.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/843","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're very concerned about stretching that dollar","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2401.37,2404.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/844","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as far as it'll go, and I guess that's one reason","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2404.3,2407.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/845","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you have unemployment, they lay people off.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2407.95,2410.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/846","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But disinflation itself is probably,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2410.89,2413.233"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/847","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's a good thing that inflation is coming down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2414.61,2416.933"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/848","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the problem with it is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2418.35,2420.098"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/849","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's come down almost too fast.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2420.098,2422.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/850","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's caught a lot of people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2422.26,2423.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/851","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think there's much more pain associated with this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2423.87,2428.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/852","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If this continues at the sharp levels that it has,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2428.23,2431.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/853","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say than we had during the last recession,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2431.9,2434.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/854","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when inflation didn't come down very much at all.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2434.75,2437.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/855","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So anyway, I think we have to look at that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2437.77,2440.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/856","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some industries, as you obviously know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2440.45,2441.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/857","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are being obviously hurt by this situation, Reaganomics now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2441.98,2445.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/858","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the farm economy as you know, is being hurt very bad.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2445.64,2450.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/859","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't really have to go into that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2450.31,2451.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/860","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"automobiles, construction, housing.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2451.65,2455.453"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/861","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just mention one thing about the auto industry,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2457.12,2459.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/862","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think it's kind of a special case.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2459.67,2463.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/863","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I find no great sympathy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2465.76,2467.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/864","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the auto industry in Washington.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2467.01,2468.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/865","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's very funny, but folks are concerned about it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2468.52,2473.267"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/866","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're worried about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2473.267,2474.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/867","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what the long-term implications are,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2474.21,2476.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/868","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but when it comes to bailouts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2476.63,2480.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/869","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when it comes to special help,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2480.29,2482.173"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/870","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"other than the special deal they got with the Japanese","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2483.03,2485.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/871","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to limit their imports in here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2485.94,2487.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/872","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you don't see much sympathy for it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2489.3,2492.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/873","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People from the Federal Reserve Boards said,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2492.39,2495.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/874","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they go, I went into a showroom, they'll say,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2495.32,2499.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/875","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I hadn't bought a car in four or five years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2499.27,2501.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/876","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they go in and they get sticker shock,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2501.86,2504.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/877","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like everyone else, and they're outraged,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2504.03,2506.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/878","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they say they don't take the responsibility","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2506.84,2511.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/879","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the troubles that this industry is in.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2511.13,2513.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/880","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They point out that the wage increases,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2513.64,2515.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/881","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the auto wage levels, not increases, I'm sorry.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2515.4,2518.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/882","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The wage levels in the auto industry were 70% higher.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2518.83,2523.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/883","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before the give backs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2523.8,2525.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/884","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the wage levels for the average industrial worker,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2525.5,2530.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/885","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's amazing that you wouldn't find","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2530.03,2534.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/886","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a little more sympathy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2534.63,2535.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/887","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, they're sympathetic with the plight of the workers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2535.463,2538.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/888","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all this, but there's no inclination","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2538.84,2541.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/889","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to do anything about it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2541.89,2542.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/890","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Just let it shrink and let it restructure itself.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2542.87,2546.573"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/891","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's probably inevitable, it's happening very fast,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2547.58,2549.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/892","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's tough out there, friends.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2549.95,2553.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/893","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, it's Social Darwinism, whatever you want to call it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2553.23,2557.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/894","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that's what it is.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2557.24,2559.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/895","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think Paul Volcker, and all of us who covered this beat","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2559.02,2563.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/896","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get to talk to Volcker.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2563.86,2564.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/897","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Volcker will not go on the record very much.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2564.85,2567.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/898","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He will go on the record for an occasional TV interview.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2567.85,2570.763"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/899","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A public official can handle themselves pretty well","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2573.97,2575.988"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/900","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a public situation like that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2575.988,2579.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/901","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where you've got 30 minutes, you're pretty much in control.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2579.35,2582.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/902","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You can give a wise answer, or a cute answer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2582.09,2585.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/903","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you can dodge a reporter's question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2585.36,2587.228"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/904","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on \"Face the Nation,\" or \"Issues and Answers,\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2587.228,2590.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/905","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in 30 minutes it's over,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2590.03,2591.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/906","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you've avoided all the tough questions,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2591.36,2593.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/907","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you don't really have to come out with the answers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2593.71,2596.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/908","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But people who have talked to Volcker privately","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2596.43,2600.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/909","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get the view that this is a sensitive man.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2602.08,2605.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/910","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, he's not trying to destroy the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2605.09,2608.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/911","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's concerned about jobs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2609.643,2611.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/912","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he's concerned about where this thing is headed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2611.15,2616.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/913","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I get the sense that he's on somewhat of a crusade.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2616.05,2619.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/914","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean crusade in the sense that he thinks","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2619.02,2622.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/915","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"he can play a real role in turning this thing around,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2622.57,2625.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/916","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within two or three years.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2625.45,2627.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/917","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He doesn't believe like Reagan","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2627.04,2628.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/918","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's gonna be a short short-term cure.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2628.23,2630.783"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/919","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's gonna take a while,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2631.75,2633.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/920","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think he and the members of the Board","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2633.99,2636.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/921","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are determined to hang on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2636.12,2638.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/922","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know, they will allow some increase, if necessary,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2639.86,2643.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/923","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but they're hanging on this as much as they can.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2643.09,2647.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/924","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think what they really want to do","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2647.02,2648.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/925","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is to do something about the level of wage increases,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2648.52,2650.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/926","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which were going up about 8% or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2650.68,2654.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/927","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"8 or 9% or so last year,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2654.44,2657.153"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/928","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they reasoned that if they can get","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2658.08,2660.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/929","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this level of wage increases,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2660.38,2662.343"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/930","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say down to what they view a more reasonable level,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2663.27,2666.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/931","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"3 or 4% or so, then they have permanently","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2666.74,2669.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/932","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"broken the back of inflation, because the wage is the way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2669.1,2673.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/933","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you translate inflation from one year to the next.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2673.21,2676.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/934","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean it becomes more of a permanent thing then,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2676.053,2679.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/935","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you can get again, inflation built into wages,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2679.76,2682.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/936","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then you really off to the races for a long, long time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2682.47,2685.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/937","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think the economists, this is simplistic,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2685.72,2689.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/938","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but when they talk about the underlying rate of inflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2689.65,2693.783"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/939","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's a very loose shorthand for the wage rate,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2696.602,2699.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/940","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I view it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2702.93,2704.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/941","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Some of you economists in the audience","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2704.02,2705.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/942","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are probably gonna hit me over this one.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2705.42,2707.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/943","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=2708.84,2709.673"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21198/annotation/944","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/021/198/original/AV203260_On_the_Economy_a.vtt?1608542031","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/021/198/original/AV203260_On_the_Economy_a.vtt?1608542031"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21199","type":"AnnotationPage","label":{"en":["AV203260_On_the_Economy_a.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455/transcript/21199/annotation/945","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- And appears in the Business Section of the Des Moines Register on Tuesday mornings. Bill is a graduate of the University of Kentucky, and he plans tonight to discuss the outlook for the U.S. economy, particularly as it pertains to the employment sector.\r\n\r\n- First thing, Jim, can you hear me okay? Is that okay? The first thing Jim told me, he says, \"Don't be like another journalist, get up a long speech and try to read it in front of a bunch of university people, who know that you're trying to bamboozle 'em in some way, but unfortunately, I'm gonna have to refer to this long piece epistle, I guess I wrote here late one evening, a couple nights ago, just as a matter of notes, but I would prefer actually, to be sort of an informal discussion. I hope we'll have a question and answer period. I think I should lead off and tell you that first I am not an economist. I'm a journalist. I have a journalism degree from the University of Kentucky. What credentials I have in the way of expertise in economic policy or on the economy, comes from merely having covered the story since 1970, as a reporter first, for the Associated Press in Washington, and then later for The Tribune. And we have a couple of people here who were very active in journalism, and you know that journalists can become experts very quickly, even though they're not really experts, but I think you'll have to keep that in mind as I go through this, and give you all this complicated stuff. And remember, I'm not really an expert. I don't know anything about econometric models, how they work, and all that, but I have some general knowledge of economic policy. I think when I was growing up, my mom and dad used to tell me how bad it was during the Depression and like everyone else, I sort of, there's no way I could really experience vividly what they went through. I said, \"Well of course it was bad and all that.\" I have an 11-year-old daughter now, and I'm always trying to tell her how bad it was when I was growing up in the '50s, and in rural Kentucky as a boy. And I can't really get across that message to her very well, or very vividly. About the only thing I can say to her to get her to really understand it, as I look back in those days, \"Krista,\" I'll say to her, \"we didn't wear alligators on our shirts, and no one had signatures on their derrieres,\" and she seems to get that message pretty well. I think when we look at the economy, just sort of keeping this in mind, this country is still pretty well off. Our levels of income are very, very high. Actually, we are probably better off today, if you just look at the income levels, than we were 20 years ago. The standard of living is better, actually. There's probably more savings than there were 20 years ago, more cars around, more people own homes. People are much better off, and there's perhaps a greater sense of wellbeing than you would think. So why is everybody's so damned scared? We asked that question immediately, and I think that's a legitimate question. As a Kentuckian, I well remember Alben Barkley, who was a former Vice President. Barkley used to tell the story about how he went to some rural town in Kentucky, and met up with a constituent, and the constituent sat there and listened very silently, as Barkley began recounting all the things, wonderful things he had done for the district and for the state, and so on, and the constituent came back and said, \"What have you done for me lately?\" And I think that's the way people think about this economic situation right now. They want to know what the economy's doing for them lately, and I think we would all agree, it's not working too well. And you here in Iowa would certainly know that when you look at the Iowa farm situation, how farm prices have fallen very dramatically. A lot of people sort of are looking back and saying, this is a real Depression going on here, as far as this one state economy is concerned. I guess I can anticipate the first question from all of you is, and that's when are the interest rates gonna come down? I don't think I could be honest, and give you a straightforward answer. I don't know when the interest rates are gonna come down. I don't think anybody knows, and anybody who tells you that they know when interest rates will come down, they're smoking something else besides corn silks in Iowa, and that's for sure, because in covering the story over the past year or so, I don't think I've seen as many theories in my life over why interest rates are so high. I think there's probably one, several of two or three very good, legitimate reasons, as to why this is taking place. First, you can argue that the Federal Reserve Monetary Policy is just too tight. If you look at the targets that they have drawn up for the year, you could probably come to the conclusion that this is not really enough to support real growth in the economy of 4 to 5%, which is what we're all really shooting for. That's what the economy is really capable of, over say a long period of time, and these targets are not enough to do that, and sort of sustain the kind of inflation we had prior to the last year or so. So what has happened? We've sunk into this very deep recession, because interest rates shot up very high, because it is argued the monetary targets were just too tight. Money was too tight. Well, you can take that, and maybe that's one reason Paul Volcker says, \"Well, we want it to be tight, because we want to find inflation.\" But look, it's not that tight. I mean, there's enough here to accommodate a little bit of growth in the economy. You take, Paul Volcker would say, 5%, 5.5% money growth over a year, that should finance maybe a 8% growth in sort of nominal gross national product, and if you have an inflation rate around 4 or 5%, which is where we are right now, that gives you some room to grow. You just sort of do the subtracting there. You subtract the rate of inflation from the nominal growth, and you sort of get an idea of how much real growth that would accommodate, but then you go talk to the people in the money markets, and they will say, sure the monetary targets are tight, but there's something else. There's these huge deficits out there facing the country, and these are there for any number of reasons. Well why is it so, we're in a deep recession? Well I mean, the deficit shouldn't be a real problem to anybody. When you're in a deep recession, that's what you want. You want deficits to try to pull you out. Now, I said, we're playing a game of rational expectations here, and I think there are a few economists in the audience who sort of know these key phrases, and these key words. Maybe a better way to put it is, the financial markets are sort of playing a game of anticipation. They're looking at these deficits way down the road, three or four years down the road, and they're saying, there's no way that the country can afford these deficits. There's no way that the government can finance these things without interest rates going up, or inflation just taking off. And one reason this so, I think David Stockman said it just a week or so ago. He said that the federal government's credit needs would be something like 56% of all the credit needs, of all the entire economy for the next year, fiscal '83. That's a record amount. That's an enormous amount of credit just required by the federal government if it has a deficit. And if you look in the '84 and '85, and you look at deficits that are in the range, say of 140, 150, $160 billion, you can see that the government's financing needs are gonna be great, and if any of you have studied public finances, as I'm sure some of you have, you will realize the markets are looking at this game, and they're playing this great game of anticipation. Down the road, things are really gonna be terrible. The government's gonna require all, take all this credit right out of the economy, and that means interest rates are gonna be up, or if the Federal Reserve decides to accommodate all this huge deficit, that's gonna mean huge inflation. So you get this huge situation of uncertainty, and the markets don't know what's gonna happen three or four years down the road. So what happens? They act to keep interest rates up, and it's a game of anticipation, and it's psychology. It's a negative psychology, but it's the kind of thing that I think that's occurring right now. Now some people would make the argument, and this is a little bit of a technical question, like answer, actually, there are short-term interest rates, which say businesses say use to borrow for short-term capital needs like financing inventories, and short-term needs, and so on, and that's what the prime rate and all of the short-term rates are about, and those rates are very, very high. What appears to be occurring now, is that because of all these fears, two or three years down the road, it's about the level of financing, and the fears about inflation. What all is this gonna mean? 'Cause all the companies are going into the short-term market, and they're borrowing there. The bond market is virtually shut down, because of this game of anticipation, and I'm not really following the speech. I hope you don't mind. It's probably better this way for me to stutter through this, because it's what I know, it's what I deal with every day, it's much easier this way. But the businesses in this company are caught in the short-term, high interest rate game, because they're afraid to sort of look down the road a little bit, and that's also creating huge problems. You need to go into long-term market businesses do for investment purposes, and they're not doing that. There's some evidence by the way, the companies are going overseas more to borrow money, because interest rates over there are a little bit lower. I think they can borrow in the so-called Eurobond market. So the interest rates are lower overseas, and they're pulling a little bit of that money on a long-term basis in there, but you see what this is doing to corporations. This is the reason why this thing is so fragile now. If you borrow in the short-term market where these rates are higher, that raises your interest costs tremendously, and that raises your debt service costs tremendously, and therefore it cuts into your profits, and if you continue this game, over, and over, and over again, you can see where companies would go shorter, and shorter, and shorter, and get yourself in a very fragile situation. And I think these are just some of the reasons why there's great concern about the fragility of this economy, at this point. I interviewed Felix Rohatyn just about six weeks ago, or so, and he particularly is very concerned about this, a huge mountain of short-term debt, sort of piling up in our economy, and he wonders when corporations are gonna be able to stretch it out more, to cut down this debt service that they have. When are their balance sheets are gonna be able to get better, he wonders, and he also worries about this is a problem for cities, and counties, and states too, because they borrow typically in the long-term market. And if you talk to these folks in the market, believe me, you will get very depressed after a while, and you begin to wonder whether we really are headed into some sort of a depression. I don't want to depress anybody here tonight, but I'm probably going to, so I might as well just go ahead and plunge into it, but I've written some about this, and I think there's some validity to it. When you look at the situation I just described, and look at the Federal Reserve Board policy, which is keeping short-term rates up very, very high, at this point, you began to wonder whether we're headed into a situation where we have a series of continuous recessions. We had one in 1980. It wasn't really officially described as a recession, but it was pretty damn close to it. In 1981, we had another recession, which was officially described as a recession. We're having one right now in '82. So you see that's not a very good track record. With each recession, as we've gone along, unemployment has started out a little bit higher. Now we're up to about, I think about 9.5%, and moving upward. I think we are getting into a recovery situation now. We probably are gonna have a recovery with the tax cut, and with the fact that people are gonna get a little more spending money, because inflation is down a little bit, and it's gonna pick up a little bit. The evidence indicates it's gonna pick up a little bit, but suppose you go for five, six, eight months with recovery, and the interest rates shoot up again. Short-term rates hit 18, 20% again. I think you're into another situation where those credit sensitive markets, like automobiles, and those big durable goods get clobbered again. Construction gets clobbered again. Farming perhaps gets clobbered again, and you're into another recession, but several things happen. First thing that happens is, those balance sheets of corporations never fully recover from the last time. They're still playing this anticipations game, still in the short-term market, still worried about the deficits down the road, and their profits never recover, and they get clobbered by another recession. There's great fear there that you might have more bankruptcies. A lot of companies, the analysts tell me, that are in a very bad situation right now, and I'm prepared to believe them. Although we don't have access to the books of many of these corporations when we need them, about the situation with International Harvester. Someone mentioned another one tonight, sort of a farm.\r\n\r\n- Massey Ferguson.\r\n\r\n- Yeah Massey's, as you know. You know about Braniff and all those. And another factor about this, is you're starting out, if you assume that if you're gonna dip again into another recession, say next year, which God forbid, you start out with a higher unemployment level. So say you start with nines, suppose unemployment recovers a little bit. You start with nine this time, instead of seven the last time. You might shoot up to 10 or 11. Now when you shoot to 10 or 11, I think you can very legitimately ask the question, \"Are we in a depression?\" I don't see anything like we had in the 1930s, where you really had a real financial collapse. I mean, there are more protections in the system now. We've got deposit insurance, we've got banks more wary, and a little bit tougher with their loans now than they were. Stocks are not bottling the kind of thin margins they were in the '30s, so that a stock market collapse of the kind that we had, where people suddenly, very swiftly lost a lot of wealth quickly. I don't think we're gonna have anything like that, but if you're just talking about my darkest fears, I'm just concerned that we'd get into the situation where this whole thing just gets ground down, gets ground down into another, something that will be called a Depression, maybe right on the edge, 10, 11, 12% unemployment, and then what happens if that happens? I don't know. I think many of the economists I talk to, tell me that if that were ever to happen, the political system would step in. You would have a big tax cut. You would have more spending programs. You would have something to counter it very quickly to pull us out of it, but then you gotta ask the question, if that happens, we're already in a terrible financial situation with respect to the budget deficit. How would the markets react then? If you try to pull it out suddenly, with a great big tax cut and, and all that, wouldn't that mean more inflation down the road? It's not a very pretty picture, but as a journalist, I think I have a responsibility to tell it as it is, and worry like everyone else is probably in this room is worrying tonight about it. You probably know all this stuff already, and all I'm probably doing is feeding your fears, and I hope you don't go away too depressed tonight. I think there's another side of it though. This is my happy side coming out. This is the Ronald Reagan view of the economy, I think at this point. It goes something like this. Let's see if I can reconstruct it, without looking at these notes. First he says, \"Inflation has come down because the Fed has been very tough.\" That means that folks are gonna have a lot more real income to spend. And that on top of the tax cuts on July 1st, the first real phase of those big individual tax cuts, is gonna give a boost to the recovery. Inflation is held down. We don't have a prospect, any kind of big oil shock out there, although the oil glove has disappeared, but no big shock yet, so we have to cross our fingers over that. There's gonna be nice crops out of Iowa this year, so no big food price increases, and we've got inflation held down. People are gonna have more income. We're gonna pull out of this recovery, and corporations are gonna have their balance sheets restored, profits are gonna come back. Interest rates will not go up, they'll come down. There's no real clash with the Fed. This is the administration's point of view now, because the targets will allow us enough room for growth. We'll muddle through for a year or so. Come the second year of the tax cuts the following year, the economy will really take off. Corporations will get out of this game that I've been talking about earlier, with the short-term debt problem. There'll be more confidence. The markets will finally believe that the Federal Reserve is out there to keep the monetary targets tight, and inflation is gonna be controlled. The anticipations game about inflation will be over, and this problem will be cured within a year or two. I think that's probably pretty close, just sort of in a general way, the way the business community hopes it will come out. It's probably the way we should all hope it'll come out, because right now, I don't see any prospect for any other policy. Suppose Reaganomics fails within the next three or four months. What then, what are we going to do? One of my guests for dinner says, we ought to have wage and price controls. I don't see this administration doing anything like that. There's no prospect of that. There may be some prospect of credit controls, but this administration is philosophically just opposed to that. They're just totally opposed to that. Someone once told me that they were studying credit controls at the Council of Economic Advisors, and I tried to find out if it was true, and everyone around me denied that. That's perhaps a possibility. Carter, you remember, tried those things in 1980, I think, yeah, 1980, and it was a disastrous attempt, and all the credit just suddenly dried up, and the economy just sunk like a rock for about three or four months or so, before Carter says, we're gonna take the controls off, and then the Fed loosened up as well. I hope everybody here has some sort of working knowledge with the Federal Reserve and all that. I know it's a very intelligent group, and I don't want to talk over anyone's head, but I don't think I really am, to tell you the truth. I think I may be probably, perhaps talking down to you. Someone once made a remark about Paul Volcker, who's about 6'7\", looks 6'10\" to me. He's the only man that can talk down to you, and over your head at the same time, and you can take that to about two or three levels, actually. Well, you've heard about all this rhetoric, I think. Nancy Teeters, who's the only woman member of the Federal Reserve Board, once told me a story about who's to blame for all this, and she said, when Reagan came into office, Jimmy Carter handed him three envelopes, said, \"These are envelopes for you when you get into deep trouble.\" And so Reagan went along, and the first few months in the Presidency, and a crisis came up of some kind, and he opened the first envelope, and it said, \"Blame the previous administration.\" So he went out and did that, it worked. And that worked for a while, and a few months later, another crisis came along, and he opened the second envelope, and it says. \"Blame the Federal Reserve.\" So he went through that whole routine, and that seemed to work for a while, and got him sort of a nice little scapegoat, got him away from all his problems for a while. But then, here we got this interest rate situation, then the recession. So he opened up the third envelope and it says, \"Get three new envelopes.\" And I think, you've heard all this rhetoric, Reagan has blamed the Carter administration, he's blamed the Fed. The Democrats are trying to blame the Reagan administration. Actually, if you want my view of it, which is probably not worth too much, I think there's somewhat both to blame for this. I think during Carter's years, I think Carter had a great opportunity. He came in there, he was an elected president, which Ford wasn't. He had, I think, a very strong following for a time in the honeymoon period. He could have done something in that first year to curtail federal spending, to look at the entitlements programs, which were just beginning to show signs of running out of control, and to bring some control over the deficit, so that you wouldn't have had this situation, three or four years down the road, and he didn't do it. His response was to go into a very strong expansionary stage to bring unemployment down, and of course he did that for a few years, and he had a fellow named Bill Miller, who he appointed Chairman of the Federal Reserve Board. I like Bill Miller very much personally, but I think he was disaster there, and he followed very erratic policies at the Federal Reserve. As a consequence, I think, because of his policies, and Carter's policies, we've got inflation accelerating, and I don't care what anybody says. I think Carter has to take some responsibility for the fact that OPEC raised its prices so sharply in 1980, and if you follow a sort of irresponsible domestic policy at home, you're inviting this kind of trouble internationally, and we're all linked, and we're all interdependent, and we have take that into account. I just really firmly believe that, and so I think Carter bears some of the blame for this, but on the other hand, Reagan came into office, and he had this grand plan for our supply side tax cuts, and business tax cuts, known as 10, 5, 3, and he had to have these tax cuts. He firmly believed that this was the salvation for our economy at this time, and he had an opportunity, I think, to calm the situation down, but he charged full speed ahead. I don't think Ronald Reagan really thought that he would ever get the tax program through in its original form, when he first proposed it to the Hill. I remember very vividly, the Wall Street Journal reporting about February a year ago, that Kemp-Roth doesn't have a chance in hell of passing, but it did. I mean, he got his act together. He was a wonderful communicator, and it passed. And it passed, I think to his surprise, the whole program passed, and I think that's when we really got into this anticipations game, because people look down the road, the tax cut itself, the total tax bill, with all the things init was $754 billion over five years, and you can look at it over three years, but the markets looked at that and said, \"That means one thing, that means more inflation,\" and the Federal Reserve says, \"No it doesn't, because we're gonna keep interest rates pretty tight.\" And so it didn't mean more inflation, it meant high interest rates. I think an analyst I talked to about a week or two ago, David Jones of Aubrey Langston and Company described it best when he said, \"They just tried to do too much too soon.\" I think the country at the time would have preferred a more centrist kind of policy. Sure we needed perhaps a tax cut, but not as big as they gave us. Sure we needed some business tax cuts to provide incentives for investment, but not this 10, 5, 3 program, which is more generous than even taking what they call expensing, which is in effect, if you just straight counted as a straight expense, this is even more generous than that. It's a business subsidy. It's a subsidy to business as such. Of course a business tax cut doesn't mean much right now, because nobody's investing anyway, because nobody's buying, so it doesn't really mean much at this point. So I don't think anybody has to worry about that until that happens. Reagan's argument that he's not at fault, is I think a little bit disingenuous on this, but he's in office, and you have to do that I suppose, was particularly when you're election year, and I don't want to, maybe since the tape recorder is on, I probably shouldn't say this, but I talked with, because it was on background,, but I talked with David Stockman just last night, and you remember him. He's still there in Washington, still working, good David. He's of the opinion that this Reagan's original hope of an economic revitalization, very quickly, probably has been pushed back by at least a year or so, because of the recession and the big deficits, and I think maybe even this hope will be misplaced, but Stockman, I mean, he thinks it was a miscalculation in the sense that they miscalculated the very sharp decline in inflation and the big recession. He said they had no idea that this was gonna occur this quickly, and we could have all told them, I think, but that's the way it happened. I've been covering the deficit. I mean, the budget for the past two or three weeks. It's a pretty boring story, actually. I don't think people are really interested in it too much, even though it's very important. Economic creditors get into the situation where we have what we call DBI stories, Dull, But Important, and every time I write one, I think I'm probably turning off everybody in America, and it's probably true. I probably am, but this is, I think this budget fight going on now is extremely important for the country, because it involves sort of setting overall limits of where we're gonna go in the next year or two, with respect to spending. Now, it may not be worth much later on in the year, when they get down to the actual decisions on where to cut spending and so on, but it's important to go through this exercise, and sort of set some discipline for yourself. But I think we probably understand the budget a little bit better, if we looked at a couple of areas. And one of my favorites is defense spending. You know what Reagan is doing to the defense budget. He's talking about an increase in the range of, oh, over and above inflation, in the range of 10% or so, and in this committee fight, they're talking about cutting it back, say $25 billion or so over three years, but it's still out of control. No one's ever really looked at the defense budget yet seriously, and I'm not sure they ever will. They call Cap Weinberger, \"Cap the Knife,\" and it's probably the most misplaced name in Washington. I don't think he has lived up to his reputation. We're talking big league waste over there. It's not just waste, it's just throwing money at everything. This weapon system, that weapon system, all the things we had in the past, without regard to any sort of overall coherence as to what effect this is gonna have, whether this is the kind of war we're gonna be fighting in the future. It's just throwing more money at everything. I want to wait for your tape there. Seriously, we really have too many weapons systems in this country, and I'm sure we don't have a coherent strategy to deal with the needs of the 1980s and the '90s. I asked Stockman the question last night about the Arch, and then the British, then the Harriers. We have more sophisticated radar guns on board to take care of that thing, but so far as I can tell, I mean, that's just one comment by Stockman, but as far as I can tell, there's been no big re-evaluation of that whole concept for a 600 ship Navy, and I think they're talking about 15 carrier groups, after that one incident involving the French missile, which came in and bam, knocked out the British destroyer. There was a lot of stuff in the press about it at the time, but I'm not so sure that the Pentagon has really gone into it and said, do we need this many ships now. It certainly hasn't forced that re-evaluation, I'm sure, because there was just a story in the paper the other day with the Pentagon defending itself, we'd still need a 600 ship Navy, because we can protect against missiles like this. Well, I think maybe we're talking about something more here. I think we're talking about a situation where the three services are trying to protect themselves, and their own weapons systems. A lot of careers are involved, and we have officers who do nothing, but spend their whole careers working on one weapon systems. Their salaries are at stake. This whole thing about the inner service rivalry, that's never been looked at. It's never been looked at. We've never really looked at very seriously, what they call the iron triangle, which are defense contractors, members of Congress, and the White House sort of get in a league together, and Tip O'Neill can rail about the military budget all he wants to, but when it comes to cutting tip O'Neill's defense budget, and his defense contracts in Massachusetts, forget it. That's sacred cow. Jim Wright can do the same thing, talk about military waste somewhere else, but when it gets to General Dynamics in Texas, you better believe that Jim Wright does not want any cuts there. Same thing with Alan Cranston in California. You should hear Alan Cranston defend the B-1 Bomber. I mean, it's the greatest plane on earth, and I think what I'm describing here is, this is what we're living through, and I don't know how to reform this, but I'm not so sure that the press has done a good job with it. I could be somewhat of a critic of the press. Our own paper did a series on this last year, and I didn't see too many other papers follow up on it, but I can be a critic of my own newspaper. I don't think we have followed up the details of some of these weapons systems enough, to point out what specific weapon systems may be obsolete. We're talking about a lot of dull, boring details, and reporters in Washington do not like to deal with dull, boring details, which are important to the American people. What they like to deal with, are the political fortunes of Ronald Reagan, the politics of the budget, and I'm guilty of some of this myself, and I think it's the kind of thing we need to be concerned with in journalism, the dull, boring details about this weapon system, that weapon system, this program, that program, what's being wasted and what is not being wasted. Unfortunately, we don't have that many people in Washington to do the kind of job I'm talking about, and that's one of the problems here. Back to the budget, a little bit, talking about politics of the budget and Social Security, and many of you folks have already read a lot about this, this year, and I don't want to give you the boring details, but I think just one thing I would like to say about this whole Social Security, and Medicare Medicaid fight, because I think it was clear, it's clear now to many thoughtful Republicans and Democrats alike, that something needs to be done to reform these entitlement programs. It's been pointed out to me, that only about 20% of the people on Medicaid, are really actually poor, and all the rest of it. One example, which was pointed out to me is that, a guy who works ONB says, \"You know, theoretically I could sign, get my mother on Medicaid. She, after she hits a certain age, simply declare poverty, and sign all her assets to me, and I could get her into a nursing home, and let Medicaid take care of her. I don't think this administration will touch things like that, but it's really going on, and I think the press needs to look at that. The people need to be more aware about things like that. I think what is not getting very close attention too is all these tax loopholes that are built into the tax system. I think if we want to try to deal with the economy, we ought to really start looking at those very closely. There are billions of dollars there. Many of those are favorable to you and me, with the mortgage tax break that we get, the medical break that we get, and all the deductions we're able to take on our itemized forms, on taxes and all that. But I'm not just talking about that, I'm talking about all the business incentives to the special breaks that the oil industry gets, losing corporations get a lot of tax breaks. The Tax Code is just riddled with these things, and I think when you get into a potential economic crisis, like we're getting into, I think the American people, I hope, will finally recognize that the time has come to reform the system, and since it is causing interest rates to stay high, we're gonna have to take a look at it, finally. once and for all. I don't know how we're doing on time, by the way, but there's one thing I really wanted to talk about tonight, in particular. I'll take just a second longer on supply side economics, and Reaganomics, and all that, and then I want to get into it. I think a couple of the results of Reaganomics I've seen so far, several of 'em, is that everyone knows about what's happened to unemployment, up to 9.5%. I think disinflation is another thing, I don't think we really mentioned, and by that I don't mean deflation, in the sense that inflation is actually declining, but the rate of inflation has come down. Inflation is still rising, but it's not rising as fast as it once was. We were talking about this over dinner tonight. Suppose you were someone who had just purchased a home, say last year, and a mortgage of 17.5%, and you're paying monthly payments of, I don't know, $1,000 a month, and some people are now, and more, and you had counted on your income going up by 8 or 9% a year, because inflation was that, and that was sort of the average wage increase, and counting on getting this, ad infinitum out to 30 years from now, 8 or 9%, I could figure that, well, I'm gonna be stretched this year and next year, but after about five years, these payments are not gonna look so bad, and a lot of folks did that. They bet on inflation, and suddenly we got this sharp fall off and disinflation, and I think those folks caught, and a lot of people were being hurt by this. It's hard to quantify it. I don't think we really know how many people are in this category. It just doesn't affect people who have bought houses, but it's affected a lot of corporations. One, I think is Textron. Someone told me that Textron was a company. That's Bell Helicopter, isn't it? Some of you experts, yeah. They were in a situation where they borrowed very heavily, like this betting on inflation in the '70s, and suddenly they find their balance sheet's in pretty bad shape, inflation coming way down. So you see, I think when you get in a climate like this, you get businesses very concerned about costs, and they're very concerned about stretching that dollar as far as it'll go, and I guess that's one reason you have unemployment, they lay people off. But disinflation itself is probably, it's a good thing that inflation is coming down. But the problem with it is, it's come down almost too fast. It's caught a lot of people, and I think there's much more pain associated with this. If this continues at the sharp levels that it has, say than we had during the last recession, when inflation didn't come down very much at all. So anyway, I think we have to look at that. Some industries, as you obviously know, are being obviously hurt by this situation, Reaganomics now, and the farm economy as you know, is being hurt very bad. I don't really have to go into that, automobiles, construction, housing. I just mention one thing about the auto industry, and I think it's kind of a special case. I find no great sympathy for the auto industry in Washington. It's very funny, but folks are concerned about it, and they're worried about what the long-term implications are, but when it comes to bailouts, when it comes to special help, other than the special deal they got with the Japanese to limit their imports in here, you don't see much sympathy for it. People from the Federal Reserve Boards said, they go, I went into a showroom, they'll say, and I hadn't bought a car in four or five years, and they go in and they get sticker shock, like everyone else, and they're outraged, and they say they don't take the responsibility for the troubles that this industry is in. They point out that the wage increases, and the auto wage levels, not increases, I'm sorry. The wage levels in the auto industry were 70% higher. before the give backs, than the wage levels for the average industrial worker, and it's amazing that you wouldn't find a little more sympathy. I mean, they're sympathetic with the plight of the workers, and all this, but there's no inclination to do anything about it. Just let it shrink and let it restructure itself. It's probably inevitable, it's happening very fast, but it's tough out there, friends. I mean, it's Social Darwinism, whatever you want to call it, but that's what it is. I think Paul Volcker, and all of us who covered this beat get to talk to Volcker. Volcker will not go on the record very much. He will go on the record for an occasional TV interview. A public official can handle themselves pretty well in a public situation like that, where you've got 30 minutes, you're pretty much in control. You can give a wise answer, or a cute answer, and you can dodge a reporter's question on \"Face the Nation,\" or \"Issues and Answers,\" and in 30 minutes it's over, and you've avoided all the tough questions, and you don't really have to come out with the answers. But people who have talked to Volcker privately get the view that this is a sensitive man. I mean, he's not trying to destroy the economy. He's concerned about jobs, and he's concerned about where this thing is headed. I think I get the sense that he's on somewhat of a crusade. I mean crusade in the sense that he thinks he can play a real role in turning this thing around, within two or three years. He doesn't believe like Reagan it's gonna be a short short-term cure. It's gonna take a while, and I think he and the members of the Board are determined to hang on. You know, they will allow some increase, if necessary, but they're hanging on this as much as they can. I think what they really want to do is to do something about the level of wage increases, which were going up about 8% or so, 8 or 9% or so last year, and they reasoned that if they can get this level of wage increases, say down to what they view a more reasonable level, 3 or 4% or so, then they have permanently broken the back of inflation, because the wage is the way you translate inflation from one year to the next. I mean it becomes more of a permanent thing then, if you can get again, inflation built into wages, then you really off to the races for a long, long time, and I think the economists, this is simplistic, but when they talk about the underlying rate of inflation, it's a very loose shorthand for the wage rate, as I view it. Some of you economists in the audience are probably gonna hit me over this one. Well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103455#t=0.0,2716.08163"}]}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456","type":"Canvas","label":{"en":["Media File 2 of 2 - AV203260_On_the_Economy_b.mp3"]},"duration":1993.24735,"width":640,"height":40,"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/103/456/small/lecture.png?1608542034","type":"Image","format":"image/png"}],"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/content/1","type":"AnnotationPage","items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/content/2/annotation/1","type":"Annotation","motivation":"painting","body":{"id":"https://aviary-p-iastate.s3.wasabisys.com/collection_resource_files/resource_files/000/103/456/original/AV203260_On_the_Economy_b.mp3?1608542034","type":"Audio","format":"audio/mpeg","duration":1993.24735,"width":640,"height":40},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456","metadata":[]}]}],"annotations":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200","type":"AnnotationPage","label":{"en":["AV203260_On_the_Economy_b.vtt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/1","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e There's also been, I think another result","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=6.92,7.875"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/2","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of Reaganomics, a lack of investment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=7.875,9.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and not how we referred to this earlier.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=9.98,11.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm just going over these notes here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=11.8,13.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they don't jive with my sequence so","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=13.82,17.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"forgive me if I rush through these notes quickly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=19.49,23.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I mentioned earlier,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=25.27,26.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what happened if Reaganomics fails, absolutely goes down?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=26.17,29.407"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I said earlier, I don't see any immediate prospect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=29.407,33.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a change.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=33.12,34.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When I talked to the people in the money markets","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=34.23,36.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in New York, I found a very strange fear there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=36.1,39.813"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's not just the fear over","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=41.29,43.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what's gonna happen with inflation down the road","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=43.18,46.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but what's gonna happen politically as a result","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=46.76,49.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of Reagan's policies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=50.8,51.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Suppose it fails and I get to sense they fear,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=51.91,55.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and one guy said it explicitly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=56.82,58.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A guy from Morgan Stanley, very concerned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=58.81,61.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He said that financial markets concerned about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=61.29,64.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Kennedy or somebody left of Kennedy coming out in 1984","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=64.12,67.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then getting, as they view it, greater spending,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=67.84,71.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=71.66,72.887"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This guy claimed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=74.41,75.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there's a little bit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=76.59,78.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a fear premium and interest rates,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=78.02,80.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"simply because of the instability","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=80.13,82.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the economic and financial situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=82.64,86.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as it relates to the politics down the road.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=86.06,88.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I (giggling) have some doubts about that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=90.84,92.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but nevertheless you have someone else's view.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=92.07,94.573"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If this thing goes down the tube","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=95.49,97.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Reaganomics has to reverse course,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=97.41,99.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we are gonna have mass confusion for a while.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=99.16,103.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think there's any choice","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=103.5,105.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the Democrats or Republicans,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=105.72,107.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they still gotta pursue this course of cutting the budget","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=107.21,109.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it is so bad.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=109.34,110.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I may be wrong about this but I think down the road","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=113.81,116.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you may see more targeting of our resources and","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=116.06,119.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is where the Republicans and the Democrats disagree.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=119.04,122.053"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the Carter folks in particular","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=123.968,125.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wanted to target tax cuts, business tax cuts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=127.01,130.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"particularly more to certain industries.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=130.78,132.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/45","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This really gets you into troubled area","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=134.572,136.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/46","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for a lot of economists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=136.35,137.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it gets into the area of industrial policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=137.4,140.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and do we pick this industry as a winner","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=140.61,143.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/49","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or that industry as a winner.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=143.19,144.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/50","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let this industry go down the tube","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=144.8,146.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or raise this one up because it's high technology.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=146.47,148.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=152.48,153.313"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In my view, down the road if Reaganomics fails,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=154.21,156.793"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what's the alternative?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=161.129,162.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are we gonna get into a situation like,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=162.15,164.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sort of a managed capitalism?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=165.12,167.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Where you have more government planning.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=168.41,170.923"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If it's not wage and price controls,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=174.37,176.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe you get into a situation where you use your capital","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=176.35,179.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more efficiently and let the government make more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=179.38,182.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of those decisions, and decide how are we gonna compete","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=182.06,185.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in foreign markets against the Germans and the Japanese,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=185.96,188.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and so forth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=188.48,189.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know if that's gonna happen but","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=189.66,191.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that might be a reasonable way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=191.88,193.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for policy to go in the future.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=193.58,195.273"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These are just some of my guesses on Reaganomics and","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=197.49,201.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I pointed out to you I don't know.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=201.03,203.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think anybody knows, including all the experts.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=203.35,206.113"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me check to see how we're doing on time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=207.6,210.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you don't mind, I would like to mention...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=210.23,211.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"James said we were gonna talk about jobs and","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=211.94,214.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is really futuristic stuff I'm talking about now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=216.375,218.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I don't wanna spend too much time with this","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=218.98,220.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I have a special interest in because","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=220.94,223.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a partner and myself are trying to write a book on it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=223.55,226.213"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're talking, we're looking down the road","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=227.52,228.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe 20 years or so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=228.92,230.303"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This assumes that we get out of this mess that we're in now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=233.246,235.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we finally have some investment is a","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=235.69,238.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the computer technology really comes on very strong","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=238.79,242.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's out there and people are looking at it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=242.05,244.34"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're beginning to wonder again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=244.34,246.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Remember the 1960 we had the automation scare,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=246.72,249.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"many people in this room remember that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=249.92,253.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We wondered about it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=253.23,254.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's gonna be mass unemployment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=256.055,257.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I remember the fears at the time because","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=257.36,258.955"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all these new machines coming into the market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=258.955,261.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were gonna displace all these workers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=261.38,263.453"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It didn't happen and people were relieved about that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=264.38,268.966"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They said, well, new technology always","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=268.966,272.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is a net creator of new jobs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=272.15,274.293"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Sure you've displaced some workers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=276.47,278.393"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We used to have the canal system and the railroads came in,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=279.62,281.917"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all the canal workers were thrown out of the job,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=281.917,284.567"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"railroads created a lot more new jobs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=285.47,287.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These are more of reporters dark fears talking here now so","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=289.36,292.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"keep that in mind as I go through this litany.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=295.9,298.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The new computer technology has a potential","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=300.71,303.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to throw a lot of people out of work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=303.54,305.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's a quantum leap in technology.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=305.1,307.163"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But there's a difference here between,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=309.29,311.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say the situation we had in the '60s.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=311.46,314.873"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We might within 20 years find ourselves in a situation where","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=316.79,321.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all our factories are automated.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=322.93,324.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We'll have robots making robots","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=325.74,328.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I doubt whether anybody's found a robot yet","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=328.44,330.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that can repair a robot but if you do that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=330.93,333.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you really throw a lot of people out of work.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=333.25,335.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So our manufacturing sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=339.07,341.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"may no longer be labor intensive as the economist say.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=341.11,344.993"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So where do people go then?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=345.84,347.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well they go into the services sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=347.1,348.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're gonna have this huge information economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=348.82,351.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know all you people studied about that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=351.51,354.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're gonna be all these new jobs out there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=354.04,356.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for computer experts of all kinds.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=356.01,358.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All you folks here are studying Computer Science","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=358.41,360.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and every time my son or any other son","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=360.61,363.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"talks to anybody they're studying Computer Science","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=363.72,365.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's sort of the new career of the future.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=365.93,370.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But you look at it and you begin to wonder,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=373.69,377.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you look at offices now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=377.15,378.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and how banks are organizing themselves.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=378.56,381.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you see all these new mini processors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=381.77,386.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and people at computer terminals,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=386.1,388.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you go to an automatic teller machine","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=388.62,391.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there's no one there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=391.5,393.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you begin to wonder, these banks and these businesses","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=393.14,396.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are doing an enormous volume of new business","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=396.27,399.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without hiring all that many people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=399.17,401.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Meaning they are","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=401.71,403.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Where are these jobs gonna be created?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=405.19,407.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We remain to be convinced about that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=407.72,409.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm beginning to wonder and we're beginning to wonder,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=409.39,412.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that with this quantum leap in technology","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=412.76,414.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is perhaps down the road.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=414.65,417.083"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Maybe you can do all the work with 100% of the work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=418.55,422.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with 75% of the people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=422.56,424.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/141","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that doesn't mean you have a depression or anything.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=425.17,427.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean you're still creating wealth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=427.93,429.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the machines are creating it not you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=429.44,431.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/144","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is space age stuff now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=434.01,435.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/145","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So what do we do?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=436.81,437.643"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've created this huge new leisure class","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=437.643,439.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in this book we're working on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=442.09,443.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're thinking about this a little bit down the road","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=443.39,445.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and wondering about this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=445.81,447.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/150","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What do we do about this if indeed this happens?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=447.24,449.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/151","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The service sector is gonna be more fully automated,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=449.64,452.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/152","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more fully efficient than it ever was before,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=452.54,454.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/153","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"expanding volume without hiring that many new people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=456.29,459.223"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"great big leap in efficiency.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=462.03,463.583"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Nothing we're gonna mention is a threat of illegal","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=466.46,468.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/156","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"immigration.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=468.37,469.203"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/157","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Not just legal immigration but,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=470.13,472.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/158","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you're all aware of all the birth rates of the '60s","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=472.15,475.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/159","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all the economists are very sanguine about this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=477.23,479.303"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They say, well we're gonna have a labor shortage","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=479.303,482.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the mid '80s and that's gonna last to the '90s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=482.93,486.103"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the 1995s and don't worry,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=486.103,488.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we may even have to import workers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=488.47,490.223"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Don't worry about the illegal immigrants all that much","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=491.65,494.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're doing jobs that no one else wants to do anyway","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=494.27,497.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/166","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm not so sure that's true.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=497.6,499.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/167","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I talked to some folks and some of these illegal immigrants","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=500.08,503.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/168","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are in very well paying jobs, and they can be trained,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=503.84,507.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/169","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they can take over the work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=507.28,508.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they can be competitors of American workers.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=508.53,511.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think, 10 or 15 years down the road.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=511.46,513.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/172","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Particularly if they're coming in at the rate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=513.89,515.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/173","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if these figures are true, 500,000 a year net.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=515.75,519.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/174","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That means a million and a half are coming in,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=519.84,521.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/175","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're catching a million","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=521.73,523.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and half million are staying here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=523.11,525.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My economist friends extrapolate this out several years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=527.53,531.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/178","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's come to the conclusion that that could well destroy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=531.1,533.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/179","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all the optimistic scenarios about the baby bust,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=533.55,536.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within 10 years or so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=537.879,539.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I think this is a factor we're looking at.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=539.38,542.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We're also looking at the fact that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=542.72,544.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"women are still coming into the labor force","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=544.87,547.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at increasing rates or at the rates that came into","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=547.4,551.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the labor force in the late '60s and '70s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=551.75,554.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is not gonna let up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=554.36,555.773"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People are working longer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=557.52,559.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so the old folks are not gonna retire as early","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=559.83,562.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as they did in the past.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=562.19,564.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you might get yourself into","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=564.26,565.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"generational conflicts over jobs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=565.96,568.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and sort of a freezing up of all the promotions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=568.22,571.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"up and down the line so that you don't really clear out","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=571.26,574.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the workforce the way you used to in the past.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=574.54,576.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then there's sort of the challenge of world trade.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=577.79,581.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our market is open,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=581.07,582.263"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wages of American workers are competitive in a sense","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=583.55,587.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with those in Tokyo,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=587.57,589.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"those in Seoul, those in Hong Kong, Singapore.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=589.33,593.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All the third world countries where the wages","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=593.23,596.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Unless we close our markets and we don't wanna do that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=596.02,599.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we wanna have a system of free trade.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=599.07,600.943"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is perhaps what we'll have to face.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=602.44,606.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You'll say,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=606.6,607.433"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\" A Technology is gonna keep us ahead of those people.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=607.433,609.777"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I say, \"Wait a minute,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=609.777,610.727"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"we have multinationals around the world.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=610.727,612.827"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"As soon as it seems to me,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=612.827,614.667"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"we get a new development technologically speaking,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=614.667,618.403"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"it diffuses around the world.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=620.037,621.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's so portable, it winds up in Singapore and Hong Kong","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=621.33,624.82"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all these other places before we know it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=624.82,627.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So how does that give us a technological edge?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=627.24,630.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just don't understand that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=630.01,631.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from a manufacturing standpoint","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=631.03,632.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it doesn't seem to me that it does.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=632.95,635.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So we want to ask the question,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=635.03,636.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are our wage structures out of line here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=636.87,638.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and also are many of our jobs under threat","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=642.13,646.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because of the situation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=646.09,647.593"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So from this, and you have to accept this thesis","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=648.68,652.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before you reach the next step is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=652.54,656.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what do we do about the workers?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=656.37,658.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How do we handle leisure in the future?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=658.1,660.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How do we avoid conflict?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=660.4,662.833"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How do we between people who work and people who don't work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=664.105,667.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how do we avoid a system of elitism involving work?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=667.73,671.703"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How do we keep our democratic egalitarian system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=672.95,677.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the future?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=677.29,678.123"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How do we credential ourselves for jobs?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=681.04,683.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Does going to Iowa State University do it anymore?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=683.98,687.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is that proper to the people who have the money","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=687.02,690.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to afford a college education?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=690.09,692.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Those who get the work with the future,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=694.6,696.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that the proper way to do it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=696.6,698.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When you look at, we talked about 10, five, three","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=700.535,702.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which was the Reagan business tax cuts,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=702.62,705.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is for accelerated depreciation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=705.62,708.073"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's sort of a manpower policy in itself because","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=710.031,713.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"very generous tax cuts for new business equipment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=713.75,717.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and machinery, on the theory that this creates new jobs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=717.16,720.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this has always been true in the past,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=721.44,723.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"technology has always been a net creator of jobs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=723.5,726.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but some people may begin to wonder in the future","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=726.55,731.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whether this is gonna actually work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=731.33,734.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the opposite direction.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=734.16,735.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So with that, I'll stop.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=736.74,738.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hope I haven't scared anybody or","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=738.07,742.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"been too depressing tonight","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=742.16,744.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and just running through these notes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=744.31,745.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I probably found it was just better just to roll through it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=745.83,747.847"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and not worry about all this wonderful prose here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=747.847,752.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Probably turned it about five or six columns as a result.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=753.34,756.217"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are there any questions?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=756.217,758.217"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e You mentioned that the effects really haven't been","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=761.44,764.973"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"any study of the effectiveness of the Falkland War","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=766.05,770.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that enabled that (indistinct).","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=770.28,771.813"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know either, it might be something","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=775.12,776.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that enabled that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=776.65,777.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"News tonight they were discussing how","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=777.78,779.127"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the Israelis come over, the Israeli weaponry,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=779.127,782.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is basically U.S. Navy and some of their own.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=782.05,785.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's basically, you know like this curtail the problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=785.05,788.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"against the Soviet made weaponry.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=788.71,790.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I guess the US is going over there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=790.72,792.667"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they're gonna start studying them and (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=792.667,795.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Looking at the other weaponry systems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=795.46,796.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they been working and their problems, things like that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=796.72,799.078"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I think.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=799.078,800.236"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"At least they're looking at it, I think possibly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=800.236,802.686"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yep.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=803.693,805.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is where it kind of happens, perhaps the Navy doesn't","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=805.44,808.013"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"want to become over driven.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=808.013,810.387"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e There was a story in the paper,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=811.89,813.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about two days ago, about the Israelis, sent out drones,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=813.18,817.923"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to sort of fool the, I guess, fool the radar, right?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=819.14,823.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then the missiles,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=823.47,825.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they shot the missiles at the drones,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=825.7,827.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and because they didn't know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=827.69,829.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, how'd you know what you're shooting at?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=829.7,831.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And when you had to shoot at them, I guess,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=831.77,834.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and after they took the missiles out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=834.65,836.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then they (chuckling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=836.08,837.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pretty smart, so maybe,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=837.57,838.783"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not totally anti-technology in that respect,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=839.81,842.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=842.29,843.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm still wondering about this Navy thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=843.92,845.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and whether many of these weapons systems are indeed viable","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=845.73,849.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in the kind of situation we're getting into the future.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=849.78,853.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we ought to look at it for sure.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=853.01,855.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e The political system isn't doing much.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=857.753,861.261"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Being that Democrats, Republicans shouldn't be","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=861.261,863.177"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"going back and using up expenditure and so on.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=863.177,866.309"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We are a country that have utilized the (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=866.309,869.955"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And a guy who had 11 years of prison,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=869.955,874.955"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of what 29 years to life,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=875.314,877.397"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"almost succeeded a candidate who had","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=878.635,881.635"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a pretty good political prestige and a mask 100 dollar","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=883.307,888.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they bought the campaign because the old man broke down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=888.22,891.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he had two basic platform at least from","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=891.36,894.011"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what I understood I read this in the press.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=894.011,897.121"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One worth a federal law amounting to 6%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=897.121,900.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and another was say am sorry federal employee","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=901.95,905.448"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who had some background can't remember what that was.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=905.448,908.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And here in rural, relatively conservative counties,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=908.89,912.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"outside of the metropolitan area he won.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=912.32,915.127"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Am suggesting that may be politics is not","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=916.428,918.232"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the end of the world.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=918.232,919.982"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He won in those counties he didn't win in the whole nation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=921.418,925.147"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but he waxed, he won, a big boost to winning--","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=925.147,927.817"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Woman:\u003c/strong\u003e In what counties?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=927.817,928.979"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e The equivalent is not yet out, but","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=928.979,931.193"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e Okay.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=931.193,932.237"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(mumbling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=932.237,934.109"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(chuckling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=934.109,935.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Am telling you these things though","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=935.76,937.963"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I turned to the point but I won't be long","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=939.01,940.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the guy was known,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=940.85,941.683"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"he was known, they told him in advance because of his","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=941.683,944.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"criminal record he could not serve.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=944.05,946.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And he still came out ahead in some in close guard","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=946.63,948.586"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and of course he","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=948.586,950.003"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Lost the election","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=951.52,952.423"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e Yeah.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=952.423,953.734"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e I don't know how to respond to that it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=953.734,956.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know that people are very upset","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=956.5,958.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the economic situation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=958.19,960.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it may be a very bad year for incumbents this year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=960.5,964.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as a result of this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=964.0,965.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e But then also, counties of government","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=965.16,966.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"should be more involved with this in terms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=966.49,968.001"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the votes that are being cast.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=968.001,970.751"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Yeah, I think if--","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=971.823,973.447"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e I wanna talk about a couple things lately","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=975.877,977.153"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in value added tax,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=978.324,980.045"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and shifting the Fed back to the Treasury Department.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=980.045,983.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Warren, do you think these are those possibilities","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=984.82,986.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the next couple years?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=986.67,988.936"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e On shifting the Fed back to the","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=988.936,992.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Treasury Department,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=992.98,994.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or under the control of the White House,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=994.44,996.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you hear more and more about this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=996.53,998.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think it's a function of the fact","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=998.86,1000.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that people were upset about interest rates, of course,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1000.86,1002.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think it personally would be a bad idea,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1002.87,1006.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I think, that having the Fed's independence in a way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1006.03,1010.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does insulate them of course, from politics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1012.3,1016.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there's a little bit of a,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1016.44,1018.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they should be insulated in a way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1018.17,1019.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they are a nice scapegoat for all the politicians,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1019.5,1022.09"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's nice to have them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1022.09,1024.036"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And, if you were to get this under political control,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1024.036,1027.38"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the ability to create money.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1027.38,1029.023"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that frightens me a little bit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1030.28,1031.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In a sense it is under political control in a way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1031.67,1034.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because congress overnight could wipe out this authority,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1034.37,1037.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the Fed would no longer be independent.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1037.22,1039.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know what's gonna happen if we get into a depression","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1041.59,1045.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or another deep recession, if this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1045.07,1047.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we don't come out of this, I would say that if,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1047.13,1050.793"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if we get 10 or 11% unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1052.3,1055.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and just, unhappiness with the Fed and Paul Volcker,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1055.2,1057.883"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that scenario may become stronger and maybe played out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1059.21,1064.21"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/364","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you'll hear more pressure about that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1064.22,1065.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/365","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the value added tax,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1065.97,1067.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/366","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think it has a chance right now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1067.08,1069.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/367","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we're down, that's down the road a little bit","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1070.43,1072.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as people become a little,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1072.62,1074.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you hear more of talk about a flat rate tax","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1074.74,1078.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/370","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is sort of a variation on that theme,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1078.01,1080.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/371","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a VAT is a national sales tax.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1080.07,1082.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/372","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, people are very unhappy with the tax system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1082.6,1085.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/373","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, like anything else, like,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1086.8,1088.339"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/374","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's gonna take several years of,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1088.339,1091.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/375","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more of unhappiness before we get into that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1091.29,1094.31"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/376","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah, back here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1094.31,1095.143"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/377","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Regan:\u003c/strong\u003e I think the Treasury Secretary.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1096.379,1099.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/378","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Yeah Don Regan.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1099.44,1100.273"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/379","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Regan:\u003c/strong\u003e Said that the net income at is immoral, that's why","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1100.273,1104.463"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/380","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Immoral? I didn't hear that quote.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1108.67,1110.785"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/381","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1110.785,1112.694"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/382","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1112.694,1115.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/383","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Regan, Regan is favorites of the flat rate tax","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1115.78,1120.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/384","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"doing away with all deductions and all that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1120.47,1123.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/385","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And, you could make that progress somewhat more progressive.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1123.67,1126.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/386","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, you could have a flat rate, it wouldn't be really","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1126.75,1128.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/387","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"be a flat rate, but you just do a way all deductions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1128.71,1131.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/388","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You could, sort of make it from 25 to 15%","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1131.28,1135.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/389","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you could still and do away with all the deductions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1135.58,1140.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/390","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, I don't think it's a widely held view,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1140.65,1145.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/391","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it's immoral.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1145.943,1147.218"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/392","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1147.218,1148.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/393","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it probably a widely held view that in their view,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1149.8,1152.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/394","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's inefficient from for economic reasons and this","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1152.57,1156.794"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/395","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because you've got the stair-step tax rates","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1156.794,1159.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/396","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with inflation pushing people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1159.65,1161.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/397","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in all these rich people's brackets and their view","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1161.11,1165.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/398","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you pay very high marginal tax rates.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1166.16,1168.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/399","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, people pay 50% tax rates and higher.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1168.27,1171.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/400","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know, why work?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1171.24,1172.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/401","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you're gonna pay 50% tax rates they argue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1172.72,1175.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/402","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and why should you invest?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1175.36,1177.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/403","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Why don't you mean more people spending more time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1177.04,1179.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/404","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"trying to escape taxes than they are trying to get","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1179.39,1182.161"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/405","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into investment and build the country?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1182.161,1184.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/406","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's I think there's something to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1185.65,1187.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/407","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, I don't, I don't totally discount that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1187.19,1189.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/408","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just think supply side economics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1189.55,1191.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/409","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from that standpoint, it's been oversold.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1191.15,1193.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/410","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the extent that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1195.245,1196.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/411","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Regan and his people say it's immoral","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1196.83,1199.05"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that's what they're talking about.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1199.05,1200.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know if it gets any beyond that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1200.57,1203.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah, right here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1205.03,1205.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e Leaving aside speculation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1205.863,1206.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/416","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as to what chances it might have.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1206.74,1208.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/417","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let's assume that a constitutional amendment mandating","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1210.13,1213.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/418","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a balanced federal budget did get approved.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1213.66,1217.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/419","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What do you think would be the practical effect of that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1217.61,1219.233"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/420","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the long run?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1219.233,1220.473"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/421","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e It scares me.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1222.27,1223.151"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/422","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(man laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1223.151,1223.984"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/423","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It scares me.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1223.984,1224.817"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/424","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know it's got a little bit of flexibility in it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1224.817,1227.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/425","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's still pretty inflexible.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1227.9,1229.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/426","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, suppose you got into a situation where you're","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1232.26,1234.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/427","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a straight jacket and you needed to","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1234.04,1235.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you needed to run a big deficit for a couple of years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1235.86,1238.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/429","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and, or expand, expand the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1239.8,1242.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/430","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You couldn't do it because you had to balance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1242.75,1244.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/431","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the damn budget.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1244.42,1245.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/432","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I, that scares me a little bit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1245.89,1248.46"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/433","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And on the other hand I think it's desirable","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1248.46,1251.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/434","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we, you know, we moved toward balancing and get out","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1251.98,1253.976"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/435","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of this financial crisis we're in.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1253.976,1256.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The people who are in favor of this, say","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1256.81,1259.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as soon as you pass an amendment like that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1261.37,1262.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you change the whole political climate.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1262.85,1265.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You get into um,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1265.43,1266.503"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/440","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you force some action","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1267.713,1269.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/441","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there's no action forcing event right now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1270.43,1272.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to balance a budget.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1272.75,1274.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that's why they think it's wonderful.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1274.14,1276.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/444","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't know, I worry about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1278.44,1279.62"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/445","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the inflexibility of it more than anything else.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1279.62,1282.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think it's very funny that Ronald Reagan","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1282.08,1286.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would come out in support of a balanced budget.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1286.11,1289.39"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"constitutional amendment shortly after proposing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1289.39,1293.27"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the largest budget deficits in the history","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1293.27,1295.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the country and not even showing a balanced to 1987.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1295.92,1299.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's wonderful.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1299.36,1300.962"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(crowd giggling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1300.962,1302.193"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Reagan:\u003c/strong\u003e I heard the main reason he came up","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1302.193,1304.068"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in favor of it was to fore stall the states","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1304.068,1307.539"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"individual states call for a constitutional connection","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1307.539,1310.789"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/456","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because if this gets a few back bites against","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1310.789,1314.49"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/457","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"adopting certain policies if they are I think well","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1314.49,1316.998"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"behaved and rewrite issues.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1316.998,1319.675"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e I don't think that was the main reason,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1319.675,1321.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/460","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it could be that--","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1321.74,1322.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/461","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Reagan:\u003c/strong\u003e He was trying to get everybody not to be able","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1322.79,1325.64"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/462","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to stall the action not in the states","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1325.64,1327.721"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/463","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that are still in favor even though (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1327.721,1330.067"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/464","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e You could be right on it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1330.067,1331.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/465","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it was more of a, you know, we've got these","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1331.69,1333.75"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/466","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"big deficits that we need,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1333.75,1335.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/467","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we need to show that we really are in favor","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1335.23,1337.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of balanced budget.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1337.89,1338.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So here's this constitutional amendment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1338.73,1341.44"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So it's a nice thing to be in favor of.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1341.44,1343.53"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't, could be wrong, but I don't think they","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1343.53,1346.74"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/472","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"thought through it I mean, I would like to think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1346.74,1348.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/473","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that they were that cunning, but I don't think they are.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1348.25,1350.703"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1350.703,1352.127"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e Still one thing that's happening","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1352.127,1353.562"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on Reaganomics scale not all the scale's that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1353.562,1357.089"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and talked about moving in the direction of honest economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1357.089,1361.929"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How much do you mean by an Honest economy?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1361.929,1365.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We take the Japanese economy why is it that they can","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1365.11,1368.027"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"absorb all workers ?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1368.027,1369.578"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1369.578,1371.995"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e They got a 20% savings rate.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1387.41,1389.07"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's one answer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1389.07,1390.033"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So they got a little more money, you know, to 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country.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1397.18,1400.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/487","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's, there's an expert back here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1400.11,1402.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/488","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think they don't have a social security system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1402.77,1406.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/489","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which probably I think contributes to their","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1407.18,1410.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/490","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"rate of savings.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1410.78,1412.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/491","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People, you know, tend to be more concerned about the future","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1412.45,1414.73"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/492","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but nevertheless is high rate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1414.73,1416.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/493","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they traditionally saved a lot of money.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1416.5,1418.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/494","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that's one reason for it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1418.0,1420.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/495","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I wrote this ones.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1423.62,1425.15"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/496","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the Japanese is very","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1425.15,1426.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/497","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the Japanese have a very existential economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1426.5,1429.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/498","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They know that they can go off the cliff at any time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1429.48,1433.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/499","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And because of that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1433.23,1435.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/500","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they know they have to import to survive","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1435.2,1437.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/501","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because they have no raw materials","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1437.02,1438.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/502","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they have to export to survive,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1438.58,1440.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/503","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if you have to do this","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1440.8,1443.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/504","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you know, you're gonna face a guilt team tomorrow,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1443.61,1446.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/505","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you're gonna do it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1446.26,1447.79"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/506","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they have a very homogeneous population.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1447.79,1452.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/507","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They believe in thrift and they believe in work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1452.19,1456.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/508","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they do have sort of a managed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1456.6,1460.1"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/509","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"economy and managed capitalism.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1460.1,1462.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/510","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They call it, I mean, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1462.42,1465.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/511","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the businesses there do fight the government","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1465.24,1468.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/512","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but nevertheless, the economy is more or less in agreement","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1468.01,1471.26"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/513","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think and they have what they call administrative guidance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1471.26,1474.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/514","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they do, it may not be right, but it's,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1474.0,1477.743"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/515","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a sense that we think about private enterprise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1479.37,1481.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/516","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's working for them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1481.41,1482.99"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/517","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they through administrative guidance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1482.99,1486.936"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/518","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and their system of debt financing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1486.936,1489.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/519","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're able to direct capital on the industries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1489.58,1492.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/520","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they wanna promote and withdraw it from the industries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1492.08,1495.9"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/521","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they don't want to promote.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1495.9,1497.37"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/522","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I think they use their capital much more efficiently","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1497.37,1499.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/523","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than we do.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1499.67,1500.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/524","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's one thing.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1500.92,1501.753"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/525","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But you look at the Japanese economy and you go to Japan","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1501.753,1504.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/526","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you realize there are a lot of folks who are","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1504.81,1507.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/527","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"not living all that well,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1507.04,1507.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/528","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're living in little tiny rooms, you know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1507.96,1510.32"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/529","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"five and six people to a room.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1510.32,1511.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/530","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, it's, and","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1511.81,1512.67"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/531","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they don't have the same standard of living","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1516.071,1518.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/532","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we do in a sort of a uniform basis throughout,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1518.59,1521.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/533","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"throughout the Japan.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1521.76,1523.253"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/534","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Their Per Capita income is, level is up there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1525.74,1530.45"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/535","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, among industrial countries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1530.45,1531.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/536","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it hasn't reached ours yet.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1531.86,1534.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/537","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think I'm right on that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1534.69,1536.76"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/538","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so I think there's a little bit of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1536.76,1539.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/539","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"sacrifice going on here is the answer to your question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1539.23,1541.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/540","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"From a financial standpoint, more savings and foregoing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1543.22,1547.03"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/541","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the consumer kinds of things","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1547.03,1549.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/542","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we don't forego in this country.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1549.63,1552.22"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/543","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not an economist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1552.22,1553.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/544","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I can only answer this question right","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1553.2,1554.367"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/545","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"off the top of my head,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1554.367,1555.563"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/546","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"someone has, yeah.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1557.85,1558.943"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/547","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e We hear about and talk about budget","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1560.8,1563.443"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/548","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"control act and eventually gonna take place","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1569.097,1573.279"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/549","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's not likely to run against","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1573.279,1576.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/550","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a more honorable politician.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1577.987,1581.0"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/551","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If there is any kind of business","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1581.0,1581.897"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/552","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"few people change the despicable","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1581.897,1584.333"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/553","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that couldn't be named, that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1584.333,1586.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/554","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will enable us to stop wasting money,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1586.29,1589.282"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/555","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were we are (mumbling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1589.282,1594.19"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/556","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e That's left for you Social scientists here at","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1594.19,1596.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/557","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Iowa state.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1596.48,1597.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/558","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think if they wanna make a budget process work,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1597.71,1600.33"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/559","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think they can make it work.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1600.33,1601.83"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/560","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It may work better this year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1603.59,1604.63"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/561","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than we all think because people are scared.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1604.63,1607.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/562","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the one thing that maybe you may not be aware of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1610.11,1614.12"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/563","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when they finally passed the budget resolution in the house","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1614.12,1617.04"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/564","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there's stronger reconciliation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1617.04,1619.18"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/565","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"reconciliation in there than you might think.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1619.18,1621.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/566","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Reconciliation is sort of the enforcement mechanism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1621.42,1623.393"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/567","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they used to try to force all the spending limits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1623.393,1627.47"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/568","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the committees later down the road.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1627.47,1629.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/569","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The only thing they can really reconcile the","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1629.29,1630.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/570","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"entitlement programs, but they can reconcile taxes too.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1630.91,1635.91"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/571","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the committees have to come up with specific","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1636.55,1638.48"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/572","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"tax increases within the context","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1638.48,1643.24"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/573","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the budget resolution sometime in July, I think.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1643.24,1645.96"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/574","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then on the side of the","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1645.96,1647.58"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/575","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"non-defense discretionary spending,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1647.58,1649.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/576","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if committees go over the mark on appropriations on that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1650.79,1654.54"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/577","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then they recon the bill provides that someone can inject,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1654.54,1659.25"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/578","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"say hey the budget resolution is being breached.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1659.25,1661.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/579","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then I think if there's an objection","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1661.89,1663.84"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/580","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they have to vote on into something.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1663.84,1665.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/581","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that's the way it works.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1665.01,1666.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/582","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so, it's a little tougher than it than it was two","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1666.72,1671.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/583","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or three weeks ago when they originally voted all","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1671.28,1672.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/584","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of these things down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1672.97,1674.94"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/585","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're going to the conference now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1674.94,1676.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/586","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we're gonna see the next two or three days,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1676.6,1678.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/587","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how the enforcement stuff comes out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1678.2,1680.283"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/588","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's a lot of talk about we needed to reform","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1681.29,1682.372"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/589","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the budget process, but the only way I can think how,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1682.372,1685.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/590","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1685.95,1686.783"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/591","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think they're racking their brain up there to try to,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1687.79,1690.88"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/592","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to talk about two year budget cycles","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1690.88,1692.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/593","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and having a capital budget and all these things.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1692.85,1696.243"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/594","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But maybe this is about the best we can get for now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1696.243,1700.493"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/595","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e There seems to be a spectacular lack of interest","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1704.463,1707.16"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/596","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in Washington.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1707.16,1708.51"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/597","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The only part of the problem they talk about","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1708.51,1709.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/598","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a in their report there's no program set up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1709.57,1713.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/599","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The idea is that the economy will take care of itself,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1713.93,1716.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/600","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"eventually.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1716.69,1717.85"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/601","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Obviously it's not gonna happen for a long time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1717.85,1719.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/602","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is causing more misery for the American people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1719.92,1722.873"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/603","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the Russians.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1722.873,1724.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/604","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yet we're spending tremendous sums on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1724.92,1726.77"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/605","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"perceived threat from the Russians.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1728.93,1732.23"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/606","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e I think you're right about that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1732.23,1733.43"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/607","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's curious, maybe it's just the fact that the","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1733.43,1736.57"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Republicans are in power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1736.57,1737.86"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/609","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they went all out to fight inflation and,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1737.86,1740.11"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/610","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you know there is a one unemployment measure I think,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1742.42,1746.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/611","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is before the congress now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1746.17,1748.66"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/612","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that's the additional 13 weeks of unemployment camp.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1748.66,1752.717"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/613","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e It's a stop gap.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1752.717,1753.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/614","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e It's just a stop gap,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1753.68,1754.71"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/615","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and people aren't really thinking long-term about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1754.71,1758.35"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/616","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I hate this phrase Human Capital (laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1758.35,1759.483"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/617","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e We can have maybe (indistinct) may all be with us","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1759.483,1763.132"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/618","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Yeah,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1763.132,1763.969"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(murmurs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1763.969,1766.2"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah that's right I don't,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1766.2,1769.3"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/621","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the administration's philosophy is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1769.3,1771.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/622","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over time this is gonna work over time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1771.52,1772.573"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/623","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we're gonna have a recovery, arising tide","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1772.573,1776.59"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/624","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will lift our boats once, you've heard this phrase before.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1776.59,1780.14"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm sure, and has it worked yet?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1780.14,1782.93"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/626","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Maybe it will, if it does, we'll all be happier for it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1782.93,1785.68"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/627","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(mumbling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1787.414,1789.664"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e Two suicides and mental health and mental health.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1791.87,1796.87"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/629","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You said you'd never seen if any mental problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1800.54,1803.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/630","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during that one week not work.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1803.95,1807.72"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/631","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think a lot.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1807.72,1808.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/632","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's something that they overlook commit suicide","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1809.54,1812.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/633","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because Taylor's went up 10 cents.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1812.61,1815.033"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/634","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that they look at you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1816.642,1820.02"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I really don't care.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1820.02,1821.123"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1822.766,1825.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/637","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the other thing in the paper recently about jobs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1825.36,1828.797"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/638","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for advertising construction jobs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1830.629,1834.559"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"hundreds of people show up and show them (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1834.559,1839.559"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Gets back to Washington.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1846.23,1848.29"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now they talk about, you know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1848.29,1850.17"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the stories are from South Succotash","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1850.17,1852.633"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this kind of reaction, I don't think it does","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1852.633,1855.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the Reagan administration very good at all.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1855.98,1857.863"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/645","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I'm not so sure that they can, in stories like this","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1857.863,1861.69"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/646","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if they continue to come in and you know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1861.69,1863.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it makes you wonder how long they can hold on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1863.7,1865.89"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to this policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1865.89,1866.81"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And without the revising it in some fashion","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1866.81,1869.7"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe dropping the third year the tax cutter or whatever.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1869.7,1873.363"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think this has a political impact","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1876.15,1877.5"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I can't measure it from here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1877.5,1880.36"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we'll see it around election time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1880.36,1883.13"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's about, that's the way the system is supposed to work.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1883.13,1885.55"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there was another question back here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1885.55,1887.08"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1887.08,1887.913"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e I was wondering about,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1887.913,1889.404"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've been listening to your (Indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1889.404,1891.553"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about how the network reporter can only get the news?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1891.553,1895.97"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e I think they're doing better than they used to.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1897.41,1899.983"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's kind of a loaded question, in a way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1904.2,1905.78"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I have some friends who work for the network's.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1905.78,1908.603"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Dan Koch, who works for ABC is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1911.03,1913.56"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is a first rate guy and he used to work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1913.56,1915.61"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the wall street journal he knows this stuff.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1915.61,1918.01"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's not, you know, they were...","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1919.13,1921.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Economics is a pretty dull story to report on TV.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1921.06,1923.52"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then you have to do it with, you know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1923.52,1926.95"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"people are going through grocery lines or people unemployed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1926.95,1929.41"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's a voiceover kind of thing and graphs and charts.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1929.41,1932.8"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we tend to, turn people off, unfortunately.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1932.8,1936.4"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it's a very difficult visual story to tell.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1936.4,1939.513"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Mike Jensen of NBC, I think is good,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1940.52,1943.6"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but they're New York people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1943.6,1944.433"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Ray Brady of CBS is also pretty good.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1944.433,1946.92"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The New York people, I think do a pretty good job.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1946.92,1949.42"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e What do you think about (indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1950.75,1952.853"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1952.853,1954.65"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Turn it off (giggling)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1954.65,1956.98"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Did I answer you?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1961.071,1962.337"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Anybody else with a question?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1966.3,1968.717"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Man:\u003c/strong\u003e I was saying, think you've done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1970.57,1972.06"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"more than we should ask of you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1972.06,1974.28"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I think we can put an end to the questions now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1974.28,1977.097"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we thank you very much.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1977.097,1978.239"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e Warren:\u003c/strong\u003e Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1978.239,1979.145"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience clapping)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1979.145,1982.145"},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(murmurs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=1986.119,1988.286"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21200/annotation/689","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/021/200/original/AV203260_On_the_Economy_b.vtt?1608542036","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/021/200/original/AV203260_On_the_Economy_b.vtt?1608542036"}]},{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21201","type":"AnnotationPage","label":{"en":["AV203260_On_the_Economy_b.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456/transcript/21201/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- [Warren] There's also been, I think another result of Reaganomics, a lack of investment and not how we referred to this earlier. I'm just going over these notes here and they don't jive with my sequence so forgive me if I rush through these notes quickly. I think I mentioned earlier, what happened if Reaganomics fails, absolutely goes down? I said earlier, I don't see any immediate prospect of a change. When I talked to the people in the money markets in New York, I found a very strange fear there. It's not just the fear over what's gonna happen with inflation down the road but what's gonna happen politically as a result of Reagan's policies. Suppose it fails and I get to sense they fear, and one guy said it explicitly. A guy from Morgan Stanley, very concerned. He said that financial markets concerned about, Kennedy or somebody left of Kennedy coming out in 1984 and then getting, as they view it, greater spending, more inflation. This guy claimed that there's a little bit of a fear premium and interest rates, simply because of the instability of the economic and financial situation as it relates to the politics down the road. I have some doubts about that but nevertheless you have someone else's view. If this thing goes down the tube and Reaganomics has to reverse course, I think we are gonna have mass confusion for a while. I don't think there's any choice for the Democrats or Republicans, they still gotta pursue this course of cutting the budget because it is so bad. I may be wrong about this but I think down the road you may see more targeting of our resources and this is where the Republicans and the Democrats disagree. I think the Carter folks in particular wanted to target tax cuts, business tax cuts, particularly more to certain industries. This really gets you into troubled area for a lot of economists because it gets into the area of industrial policy and do we pick this industry as a winner or that industry as a winner. Let this industry go down the tube or raise this one up because it's high technology. I don't know In my view, down the road if Reaganomics fails, what's the alternative? Are we gonna get into a situation like, sort of a managed capitalism? Where you have more government planning. If it's not wage and price controls, maybe you get into a situation where you use your capital more efficiently and let the government make more of those decisions, and decide how are we gonna compete in foreign markets against the Germans and the Japanese, and so forth. I don't know if that's gonna happen but I think that might be a reasonable way for policy to go in the future. These are just some of my guesses on Reaganomics and as I pointed out to you I don't know. I don't think anybody knows, including all the experts. Let me check to see how we're doing on time. If you don't mind, I would like to mention... James said we were gonna talk about jobs and this is really futuristic stuff I'm talking about now and I don't wanna spend too much time with this but I have a special interest in because a partner and myself are trying to write a book on it. We're talking, we're looking down the road maybe 20 years or so. This assumes that we get out of this mess that we're in now and we finally have some investment is a the computer technology really comes on very strong and it's out there and people are looking at it and they're beginning to wonder again. Remember the 1960 we had the automation scare, many people in this room remember that. We wondered about it. There's gonna be mass unemployment. I remember the fears at the time because all these new machines coming into the market were gonna displace all these workers. It didn't happen and people were relieved about that. They said, well, new technology always is a net creator of new jobs. Sure you've displaced some workers. We used to have the canal system and the railroads came in, and all the canal workers were thrown out of the job, railroads created a lot more new jobs. These are more of reporters dark fears talking here now so keep that in mind as I go through this litany. The new computer technology has a potential to throw a lot of people out of work, it's a quantum leap in technology. But there's a difference here between, say the situation we had in the '60s. We might within 20 years find ourselves in a situation where all our factories are automated. We'll have robots making robots and I doubt whether anybody's found a robot yet that can repair a robot but if you do that you really throw a lot of people out of work. So our manufacturing sector may no longer be labor intensive as the economist say. So where do people go then? Well they go into the services sector. We're gonna have this huge information economy, I know all you people studied about that and they're gonna be all these new jobs out there for computer experts of all kinds. All you folks here are studying Computer Science and every time my son or any other son talks to anybody they're studying Computer Science and that's sort of the new career of the future. But you look at it and you begin to wonder, and you look at offices now and how banks are organizing themselves. And you see all these new mini processors and people at computer terminals, and you go to an automatic teller machine and there's no one there. And you begin to wonder, these banks and these businesses are doing an enormous volume of new business without hiring all that many people. Meaning they are Where are these jobs gonna be created? We remain to be convinced about that but I'm beginning to wonder and we're beginning to wonder, that with this quantum leap in technology that is perhaps down the road. Maybe you can do all the work with 100% of the work with 75% of the people and that doesn't mean you have a depression or anything. I mean you're still creating wealth, the machines are creating it not you. This is space age stuff now. So what do we do? We've created this huge new leisure class and in this book we're working on we're thinking about this a little bit down the road and wondering about this. What do we do about this if indeed this happens? The service sector is gonna be more fully automated, more fully efficient than it ever was before, expanding volume without hiring that many new people, great big leap in efficiency. Nothing we're gonna mention is a threat of illegal immigration. Not just legal immigration but, you're all aware of all the birth rates of the '60s and all the economists are very sanguine about this. They say, well we're gonna have a labor shortage in the mid '80s and that's gonna last to the '90s, and the 1995s and don't worry, we may even have to import workers. Don't worry about the illegal immigrants all that much they're doing jobs that no one else wants to do anyway but I'm not so sure that's true. I talked to some folks and some of these illegal immigrants are in very well paying jobs, and they can be trained, and they can take over the work, and they can be competitors of American workers. I think, 10 or 15 years down the road. Particularly if they're coming in at the rate if these figures are true, 500,000 a year net. That means a million and a half are coming in, they're catching a million and half million are staying here. My economist friends extrapolate this out several years and it's come to the conclusion that that could well destroy all the optimistic scenarios about the baby bust, within 10 years or so. So I think this is a factor we're looking at. We're also looking at the fact that women are still coming into the labor force at increasing rates or at the rates that came into the labor force in the late '60s and '70s, that is not gonna let up. People are working longer, so the old folks are not gonna retire as early as they did in the past. So you might get yourself into generational conflicts over jobs and sort of a freezing up of all the promotions up and down the line so that you don't really clear out the workforce the way you used to in the past. And then there's sort of the challenge of world trade. Our market is open, wages of American workers are competitive in a sense with those in Tokyo, those in Seoul, those in Hong Kong, Singapore. All the third world countries where the wages Unless we close our markets and we don't wanna do that, we wanna have a system of free trade. This is perhaps what we'll have to face. You'll say, \" A Technology is gonna keep us ahead of those people.\" And I say, \"Wait a minute, \"we have multinationals around the world. \"As soon as it seems to me, \"we get a new development technologically speaking, \"it diffuses around the world.\" It's so portable, it winds up in Singapore and Hong Kong and all these other places before we know it. So how does that give us a technological edge? I just don't understand that from a manufacturing standpoint it doesn't seem to me that it does. So we want to ask the question, are our wage structures out of line here and also are many of our jobs under threat because of the situation. So from this, and you have to accept this thesis before you reach the next step is, what do we do about the workers? How do we handle leisure in the future? How do we avoid conflict? How do we between people who work and people who don't work, how do we avoid a system of elitism involving work? How do we keep our democratic egalitarian system in the future? How do we credential ourselves for jobs? Does going to Iowa State University do it anymore? Is that proper to the people who have the money to afford a college education? Those who get the work with the future, is that the proper way to do it? When you look at, we talked about 10, five, three which was the Reagan business tax cuts, which is for accelerated depreciation. It's sort of a manpower policy in itself because very generous tax cuts for new business equipment and machinery, on the theory that this creates new jobs. And this has always been true in the past, technology has always been a net creator of jobs but some people may begin to wonder in the future whether this is gonna actually work in the opposite direction. So with that, I'll stop. I hope I haven't scared anybody or been too depressing tonight and just running through these notes, I probably found it was just better just to roll through it and not worry about all this wonderful prose here. Probably turned it about five or six columns as a result. Are there any questions?\r\n\r\n- [Man] You mentioned that the effects really haven't been any study of the effectiveness of the Falkland War that enabled that . I don't know either, it might be something that enabled that. News tonight they were discussing how the Israelis come over, the Israeli weaponry, which is basically U.S. Navy and some of their own. It's basically, you know like this curtail the problems against the Soviet made weaponry. And I guess the US is going over there and they're gonna start studying them and Looking at the other weaponry systems they been working and their problems, things like that. So I think. At least they're looking at it, I think possibly. Yep. There is where it kind of happens, perhaps the Navy doesn't want to become over driven.\r\n\r\n- [Warren] There was a story in the paper, about two days ago, about the Israelis, sent out drones, to sort of fool the, I guess, fool the radar, right? And then the missiles, they shot the missiles at the drones, and because they didn't know, I mean, how'd you know what you're shooting at? And when you had to shoot at them, I guess, and after they took the missiles out, then they pretty smart, so maybe, I'm not totally anti-technology in that respect, but I, I'm still wondering about this Navy thing and whether many of these weapons systems are indeed viable and in the kind of situation we're getting into the future. I think we ought to look at it for sure.\r\n\r\n- [Man] The political system isn't doing much. Being that Democrats, Republicans shouldn't be going back and using up expenditure and so on. We are a country that have utilized the And a guy who had 11 years of prison, of what 29 years to life, almost succeeded a candidate who had a pretty good political prestige and a mask 100 dollar they bought the campaign because the old man broke down, and he had two basic platform at least from what I understood I read this in the press. One worth a federal law amounting to 6%, and another was say am sorry federal employee who had some background can't remember what that was. And here in rural, relatively conservative counties, outside of the metropolitan area he won. Am suggesting that may be politics is not the end of the world. He won in those counties he didn't win in the whole nation but he waxed, he won, a big boost to winning--\r\n\r\n- [Woman] In what counties?\r\n\r\n- [Man] The equivalent is not yet out, but\r\n\r\n- [Man] Okay. Am telling you these things though I turned to the point but I won't be long the guy was known, he was known, they told him in advance because of his criminal record he could not serve. And he still came out ahead in some in close guard and of course he\r\n\r\n- [Warren] Lost the election\r\n\r\n- [Man] Yeah.\r\n\r\n- [Warren] I don't know how to respond to that it, I know that people are very upset about the economic situation and it may be a very bad year for incumbents this year as a result of this.\r\n\r\n- [Man] But then also, counties of government should be more involved with this in terms of the votes that are being cast.\r\n\r\n- [Warren] Yeah, I think if--\r\n\r\n- [Man] I wanna talk about a couple things lately in value added tax, and shifting the Fed back to the Treasury Department. Warren, do you think these are those possibilities in the next couple years?\r\n\r\n- [Warren] On shifting the Fed back to the Treasury Department, or under the control of the White House, you hear more and more about this, and I think it's a function of the fact that people were upset about interest rates, of course, and I think it personally would be a bad idea, because I think, that having the Fed's independence in a way does insulate them of course, from politics. And there's a little bit of a, and they should be insulated in a way, they are a nice scapegoat for all the politicians, It's nice to have them. And, if you were to get this under political control, the ability to create money. And that frightens me a little bit In a sense it is under political control in a way because congress overnight could wipe out this authority, and the Fed would no longer be independent. I don't know what's gonna happen if we get into a depression or another deep recession, if this, we don't come out of this, I would say that if, if we get 10 or 11% unemployment, and just, unhappiness with the Fed and Paul Volcker, that scenario may become stronger and maybe played out, you'll hear more pressure about that. On the value added tax, I don't think it has a chance right now. I think we're down, that's down the road a little bit as people become a little, you hear more of talk about a flat rate tax which is sort of a variation on that theme, a VAT is a national sales tax. But, people are very unhappy with the tax system. But, like anything else, like, I think it's gonna take several years of, more of unhappiness before we get into that. Yeah, back here.\r\n\r\n- [Regan] I think the Treasury Secretary.\r\n\r\n- [Warren] Yeah Don Regan.\r\n\r\n- [Regan] Said that the net income at is immoral, that's why\r\n\r\n- [Warren] Immoral? I didn't hear that quote.\r\n\r\n- [Warren] Regan, Regan is favorites of the flat rate tax doing away with all deductions and all that. And, you could make that progress somewhat more progressive. I mean, you could have a flat rate, it wouldn't be really be a flat rate, but you just do a way all deductions. You could, sort of make it from 25 to 15% and you could still and do away with all the deductions. But, I don't think it's a widely held view, that it's immoral. I think it probably a widely held view that in their view, it's inefficient from for economic reasons and this because you've got the stair-step tax rates with inflation pushing people in all these rich people's brackets and their view you pay very high marginal tax rates. I mean, people pay 50% tax rates and higher. You know, why work? if you're gonna pay 50% tax rates they argue and why should you invest? Why don't you mean more people spending more time trying to escape taxes than they are trying to get into investment and build the country? There's I think there's something to that. I mean, I don't, I don't totally discount that. I just think supply side economics from that standpoint, it's been oversold. to the extent that Regan and his people say it's immoral I think that's what they're talking about. I don't know if it gets any beyond that. Yeah, right here.\r\n\r\n- [Man] Leaving aside speculation as to what chances it might have. Let's assume that a constitutional amendment mandating a balanced federal budget did get approved. What do you think would be the practical effect of that for the long run?\r\n\r\n- [Warren] It scares me. It scares me. I know it's got a little bit of flexibility in it but it's still pretty inflexible. I mean, suppose you got into a situation where you're in a straight jacket and you needed to you needed to run a big deficit for a couple of years and, or expand, expand the economy. You couldn't do it because you had to balance the damn budget. And I, that scares me a little bit. And on the other hand I think it's desirable that we, you know, we moved toward balancing and get out of this financial crisis we're in. The people who are in favor of this, say as soon as you pass an amendment like that you change the whole political climate. You get into um, you force some action and there's no action forcing event right now to balance a budget. And that's why they think it's wonderful. I don't know, I worry about the inflexibility of it more than anything else. And I think it's very funny that Ronald Reagan would come out in support of a balanced budget. constitutional amendment shortly after proposing some of the largest budget deficits in the history of the country and not even showing a balanced to 1987. That's wonderful.\r\n\r\n- [Reagan] I heard the main reason he came up in favor of it was to fore stall the states individual states call for a constitutional connection because if this gets a few back bites against adopting certain policies if they are I think well behaved and rewrite issues.\r\n\r\n- [Warren] I don't think that was the main reason, it could be that--\r\n\r\n- [Reagan] He was trying to get everybody not to be able to stall the action not in the states that are still in favor even though\r\n\r\n- [Warren] You could be right on it. I think it was more of a, you know, we've got these big deficits that we need, we need to show that we really are in favor of balanced budget. So here's this constitutional amendment. So it's a nice thing to be in favor of. I don't, could be wrong, but I don't think they thought through it I mean, I would like to think that they were that cunning, but I don't think they are.\r\n\r\n- [Man] Still one thing that's happening on Reaganomics scale not all the scale's that and talked about moving in the direction of honest economy. How much do you mean by an Honest economy? We take the Japanese economy why is it that they can absorb all workers ?\r\n\r\n- [Warren] They got a 20% savings rate. That's one answer. So they got a little more money, you know, to tap to do these wonderful things. We've got much higher consumption in this country. I think it's, there's an expert back here but I think they don't have a social security system which probably I think contributes to their rate of savings. People, you know, tend to be more concerned about the future but nevertheless is high rate and they traditionally saved a lot of money. I think that's one reason for it. I think I wrote this ones. I think the Japanese is very the Japanese have a very existential economy. They know that they can go off the cliff at any time. And because of that they know they have to import to survive because they have no raw materials and they have to export to survive, and if you have to do this and you know, you're gonna face a guilt team tomorrow, you're gonna do it. And they have a very homogeneous population. They believe in thrift and they believe in work and they do have sort of a managed economy and managed capitalism. They call it, I mean, you know, some of the businesses there do fight the government but nevertheless, the economy is more or less in agreement I think and they have what they call administrative guidance and they do, it may not be right, but it's, in a sense that we think about private enterprise but it's working for them. And they through administrative guidance and their system of debt financing they're able to direct capital on the industries, they wanna promote and withdraw it from the industries they don't want to promote. So I think they use their capital much more efficiently than we do. That's one thing. But you look at the Japanese economy and you go to Japan and you realize there are a lot of folks who are not living all that well, they're living in little tiny rooms, you know five and six people to a room. I mean, it's, and they don't have the same standard of living we do in a sort of a uniform basis throughout, throughout the Japan. Their Per Capita income is, level is up there. I mean, among industrial countries but it hasn't reached ours yet. And I think I'm right on that. And so I think there's a little bit of sacrifice going on here is the answer to your question. From a financial standpoint, more savings and foregoing some of the consumer kinds of things that we don't forego in this country. I'm not an economist. I can only answer this question right off the top of my head, someone has, yeah.\r\n\r\n- [Man] We hear about and talk about budget control act and eventually gonna take place and it's not likely to run against a more honorable politician. If there is any kind of business few people change the despicable that couldn't be named, that will enable us to stop wasting money, were we are\r\n\r\n- [Warren] That's left for you Social scientists here at Iowa state. I think if they wanna make a budget process work, I think they can make it work. It may work better this year than we all think because people are scared. And the one thing that maybe you may not be aware of when they finally passed the budget resolution in the house there's stronger reconciliation reconciliation in there than you might think. Reconciliation is sort of the enforcement mechanism, they used to try to force all the spending limits on the committees later down the road. The only thing they can really reconcile the entitlement programs, but they can reconcile taxes too. So the committees have to come up with specific tax increases within the context of the budget resolution sometime in July, I think. And then on the side of the non-defense discretionary spending, if committees go over the mark on appropriations on that, then they recon the bill provides that someone can inject, say hey the budget resolution is being breached. And then I think if there's an objection they have to vote on into something. I think that's the way it works. And so, it's a little tougher than it than it was two or three weeks ago when they originally voted all of these things down. They're going to the conference now. And then we're gonna see the next two or three days, how the enforcement stuff comes out. There's a lot of talk about we needed to reform the budget process, but the only way I can think how, I mean. I think they're racking their brain up there to try to, to talk about two year budget cycles and having a capital budget and all these things. But maybe this is about the best we can get for now.\r\n\r\n- [Man] There seems to be a spectacular lack of interest in Washington. The only part of the problem they talk about a in their report there's no program set up. The idea is that the economy will take care of itself, eventually. Obviously it's not gonna happen for a long time. This is causing more misery for the American people than the Russians. Yet we're spending tremendous sums on perceived threat from the Russians.\r\n\r\n- [Warren] I think you're right about that. And it's curious, maybe it's just the fact that the Republicans are in power and they went all out to fight inflation and, you know there is a one unemployment measure I think, which is before the congress now. And that's the additional 13 weeks of unemployment camp.\r\n\r\n- [Man] It's a stop gap.\r\n\r\n- [Warren] It's just a stop gap, and people aren't really thinking long-term about, I hate this phrase Human Capital\r\n\r\n- [Man] We can have maybe may all be with us\r\n\r\n- [Warren] Yeah, Yeah that's right I don't, the administration's philosophy is over time this is gonna work over time, we're gonna have a recovery, arising tide will lift our boats once, you've heard this phrase before. I'm sure, and has it worked yet? Maybe it will, if it does, we'll all be happier for it.\r\n\r\n- [Man] Two suicides and mental health and mental health. You said you'd never seen if any mental problems during that one week not work. I think a lot. I think it's something that they overlook commit suicide because Taylor's went up 10 cents. I think that they look at you. I really don't care. But the other thing in the paper recently about jobs for advertising construction jobs hundreds of people show up and show them\r\n\r\n- [Warren] Gets back to Washington. Now they talk about, you know the stories are from South Succotash and this kind of reaction, I don't think it does the Reagan administration very good at all. But I'm not so sure that they can, in stories like this if they continue to come in and you know it makes you wonder how long they can hold on to this policy. And without the revising it in some fashion maybe dropping the third year the tax cutter or whatever. I think this has a political impact but I can't measure it from here. I think we'll see it around election time. It's about, that's the way the system is supposed to work. I think there was another question back here. Yeah.\r\n\r\n- [Man] I was wondering about, I've been listening to your about how the network reporter can only get the news?\r\n\r\n- [Warren] I think they're doing better than they used to. It's kind of a loaded question, in a way because I have some friends who work for the network's. Dan Koch, who works for ABC is, is a first rate guy and he used to work for the wall street journal he knows this stuff. He's not, you know, they were... Economics is a pretty dull story to report on TV. And then you have to do it with, you know people are going through grocery lines or people unemployed and it's a voiceover kind of thing and graphs and charts. And we tend to, turn people off, unfortunately. And it's a very difficult visual story to tell. Mike Jensen of NBC, I think is good, but they're New York people and Ray Brady of CBS is also pretty good. The New York people, I think do a pretty good job.\r\n\r\n- [Man] What do you think about\r\n\r\n- [Warren] Turn it off Did I answer you? Anybody else with a question?\r\n\r\n- [Man] I was saying, think you've done more than we should ask of you. So I think we can put an end to the questions now and we thank you very much.\r\n\r\n- [Warren] Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/2486/collection_resources/34602/file/103456#t=0.0,1993.24735"}]}]}]}