(NOTE: This part 2 of a 2-part interview is with Max Baucus, ex-US Senator and Ambassador to China).
BOZEMAN – Politics is always been rough and tumble. Many people think that the current situation is quite dire.
MTN News met with former Ambassador and U.S. Senator (D-Mont.) Baucus before he started a Legacy Interview as part of Honors Presents. This interview was conducted by the Honors College, Montana State University.
It is likely that a lot of it is COVID-related, as Ambassador Max Baucus stated about the current political climate. Many of them don’t have jobs. I believe that once this COVID cloud passes, and I hope it does very soon, then that will help.
Baucus stated that it was very sad to see the changes. I was the first senator to use the internet. There was no social media.
Baucus noted that (It) was more person-to-person. And the first ten years of their existence were not televised. Senators couldn’t stand in front of cameras. Social media, partisanship, and (it) does not have to be honest. We’ve become tribalized…a lack of identity. It’s a false sense. Most cases it is because they are not listening. To be able to get along you have to really listen to the other person’s point of view. Listen, not just check the boxes.
Although it sounds corny, it is true. It takes leadership from different circles to stand up. (To say: “Enough is enough.” For standing up for what is right, you must be willing to take some heat.
Many Americans are feeling the pinch from inflation in the United States. This includes your favorite meals, gas pumps, and building materials.
Ambassador Baucus discusses the 1970s inflation crisis and the Federal Reserve’s response. He describes the lesson as brutal.
Baucus said that Paul Volker, then Chairman of Federal Reserve, raised interest rates by about 20%. I can still recall talking with him, pleading, Please don’t, Montana’s a small business state. Small businesses cannot withstand interest rates this high. Higher interest rates can be withstanded by large businesses much more easily than small business. You shouldn’t do that. He just kinda stared at me.
Baucus pointed out that this is what the Federal Reserve did back then. Higher interest rates were the key to breaking the back of inflation.
Baucus stated that right now, the Federal Reserve is increasing interest rates to combat inflation. I don’t like it. But it is the right thing.
Ambassador Baucus’ reflections concluded on a personal note. He shared his bucket list ideas and a look towards the future.
He said, “Well, I’m working hard.” I have something called The Baucus Institute. It is a public policy institute that is based at the University of Montana.
Baucus stated that it is getting children involved in public service.
Baucus stated that Mel and I are now traveling a bit with Melodee Hanes, his wife. We had a great time. We depart for Africa for a four-week safari on Valentine’s Day. I want to see the animals. That’s something we are looking forward to doing.
VIDEO EXTRA Ambassador Baucus is especially proud of his time in Senate, which included fighting for the people of Libby (Mont.). who was exposed to asbestos for many years. Here is a complete interview with Donna Kelley from MTNs.
Full interview with Max Baucus, former Ambassador and US Senator
