Paul Begala On The Economy: "The Fundamentals Are Not Strong"

Paul Begala joined Imus this morning to preview President Barack Obama's speech to Congress tonight. Begala, a former counselor to President Bill Clinton, is now a regular contributor to CNN.

"CNN sucks, I hate them," said Imus.

"We were going to try that as a slogan," said Begala. "But we settled on 'the most trusted name in news.'"

The conversation between Imus and Begala was somewhat tempestuous this morning, owing partially to Imus's bad mood and high energy. Discussing the economy, Begala remarked that the fundamentals are not strong, despite Senator John McCain having repeated that mantra during the 2008 Presidential campaign.

"I wish you were here today because I feel pretty good and I would beat the hell out of you," Imus told his guest. "You won the election! Your guys in the White House, staggering around having not a clue what he's doing, and you're still taking shots at Senator McCain! You're pathological!"

Begala protested that the Democrats and Republicans hold two different economic theories; the former group believes times are tough and bold dramatic action is necessary, while the latter holds on to the premise that less governmental action would be better. As Begala attempted to explain these diverging points, he was interrupted.

"Are you still talking?" asked Imus.

Imus heatedly told Begala that nothing Obama has done is working, at which point Begala informed him that the President has been in office just 30 days.

"I don't care. It's 'what have you done for me today?'" said Imus. "People are terrified, they're losing their homes, and they're losing their jobs. Nothing's working!"

Begala emphasized the importance of Obama's impending speech, which will address the economic crisis, the stimulus bill, energy, education, and health care. He then accused the Republicans of wanting to "do nothing" about these numerous issues. Imus suggested some bipartisanship on Begala's part, but was shot down.

"I am for winning, and not losing," Begala said. "I am for the progressive ideas that this President is putting forward, and I am not for the do-nothing Republicans."

Sounding almost giddy in anticipation of this evening's speech, Begala observed that Americans have put their faith in Obama, which has proven problematic for Republicans.

"They will not succeed in demonizing Barack Obama," Begala said. "They will fail."

-Julie Kanfer