Frist In Tri-Cities; Talk About Economy

Former U.S. Senate Majority Leader Bill Frist visits the Tri-Cities Wednesday night to talk about the economy and politics.

Senator Frist has been teaching, is involved in numerous charitable causes, and of course, he just couldn’t stay away from politics.  He often travels to campaign for others.  He endorsed Michael Faulk Wednesday for the Tennessee senate in District Four, but he also spoke with me about the presidential campaign and the economy.

The economy is consuming America’s attention.

“Americans today are scared to death, some panic, and some paralysis.  What they really want is to hear that there is somebody out there with a very specific plan that can make their lives a little bit better,” said Frist.

The economy is also driving the debate between the two presidential candidates and they’re trying to present their plan to voters.  Senator Bill Frist says John McCain will do well if he can clearly explain his plan, but poll numbers show that it’s not that easy for him.

“I do think he faces a big challenge across the country as he goes forward and articulates mainly an economic policy,” said Frist.

That policy is not only important for our country, but for the world.  Frist says that was evident when he met with more than 60 former and current world leaders at the Clinton Global Initiative two weeks ago in New York.

“They said their banking systems have come to a halt and until the united states leads and comes up with a policy statement, our banks will not open up,” said Frist.

Stock markets around the world sold off as the economic rescue plan was debated, but Frist wasn’t surprised.

“The pacing was just about what I expected having been leader of the senate in the past,” said Frist.

He says the way congress is designed is for two forces to pull against each other.  One side represents the pulse of the people at the moment and the other looks long term.

Congress also had to act extraordinarily fast to find an answer quickly.

“Nobody has the specific answer,” said Frist.

He says he fears nationalizing banks.

“On the other hand, I recognize that these banks will go under if we don’t have the backing of our federal government,” said Frist.

The economy is sure to continue to be the topic of conversation for the candidates and Frist offered advice to McCain.

“I would go back and look at much of the cause for the current economic crisis where it at least originated and that was back in the Clinton administration,” said Frist.

Senator Frist says that’s when Clinton pushed Fannie Mae and Freddie Mac to lower credit ratings.  He believes the republican nominee for president will do much better to talk about the issues rather than attack the opponent’s character.  He says that usually leads to character assassination that neither candidate wants.

More than 125 people showed up to hear Frist speak Wednesday.