Washington Week Show # 4203 - The Economy, Homeland Security, Prosecuting Terrorists. Hosted by Gwen Ifill, with guests Michael Duffy, Richard Berke, Jeanne Cummings, Pete Williams. Composite footage (unclean) with Washington Week title and text : New York Stock Exchange building, trading floor. Pedestrians walking along busy street. U.S. President George W. Bush waving on stage, "Strengthen Our Economy" on wall behind him, then shaking hand with unidentified African-American man. U.S. Coast Guard boat. Capitol Dome.
Introduction of show panel: Michael Duffy, Richard Berke, Jeanne Cummings, Pete Williams.
Gwen Ifill with news on the state of the financial markets. U.S. President George W. Bush speaking, "America must get rid of the hangover that we now have as a result of the binge, the economic binge we just went through. If we were in a land where there was endless profit, there was no tomorrow when it came to the stock markets, and corporate profits, and now we're suffering the hangover from that binge." Michael Duffy tries his best to take meaning from the President's remarks, which are the result of the President being in tough position economically. The economy is growing but financial markets are falling. Many agree there is not much that can be done by the President, but he must at least appear to be trying. He also answers Gwen Ifill's question on whether Alan Greenspan comment on "infectious greed" has helped or hurt the President.
Michael Duffy of Time Magazine addresses the idea of a shakeup on President Bush's economic team, as being lobbied by Wall Street; whether Congress can make a difference or reverse the trend; and how Bush is treating this issue in comparison to how his father did during his Presidency.
Gwen Ifill brings up American public opinion. Graphic of poll results from the New York Times showing the President's approval rating, handling of the economy, and overall direction of the country. Richard Berke of the New York Times breaks down the poll results, provides more detail behind the numbers. States voters are able to separate domestic issues from war issues.
Richard Berke of the New York Times continues to discuss the details within the poll numbers, answering questions about public views on the President's ties to big business. It's a point the Democrats will likely use against him in the upcoming elections. However, the numbers overall reflect the way people generally feel about the President
Gwen Ifill transitions to security issues. U.S. President George W. Bush speaking at American military base, soldiers seated behind him. Jeanne Cummings of the Wall Street Journal discusses the difficult task ahead of the President as he oversees the formation and development of the Department of Homeland Security. Particularly challenging are the power struggles and transfer of agencies. She mentions while there are many goals still to be reached, the one with the most consensus is the need for the intelligence agencies to communicate more effectively with each other.
Jeanne Cummings of the Wall Street Journal clarifies the process intelligence agencies will communicate with Homeland Security, and what the White House wants to see happen with the information they are briefed on. She addresses how the role of the National Guard may change, where the White House will have more flexibility in its ability to call up Guardsmen.
Gwen Ifill segues to a different component of U.S. counter-terrorism: the courts. Pete Williams of NBC News discusses the plea timeline and details the government's case against accused terrorist John Walker Lynn, and why the plea was offered. He details the benefits in taking the deal and the benefits for the government.
Pete Williams of NBC News explains the surprise behind the guilty plea made by Zacarias Moussaoui given his past statements of innocence.
Gwen Ifill thanks her guest panel, wraps up the show. Credits.