2009-11-18 15:52:01 -

Intelligence Squared US (IQ2US), the Oxford-style debate series, an initiative of The Rosenkranz Foundation, hosted a timely debate on Monday night on the effectiveness of the Obama Administration’s economic policies. At the start, many in the sold-out crowd at NYU’s Skirball Center were undecided. Both teams had persuasive arguments and were effective in moving these undecideds. But in the end, the team arguing for the motion, “Obama’s economic policies are working effectively,” swayed more to their side and they won the evening.

As the debate began, 32% voted for the motion, 29% were against it and an additional 39% were undecided. The debate shifted many in the crowd out of the undecided category and the proposition was ultimately upheld with 46%

voting for it, 42% voting against it and 12% remaining undecided.

The evening’s winning team argued for the motion and included Steve Rattner who led the Obama Administration’s efforts to reform the auto industry, Mark Zandi, Chief Economist and Co-Founder of Moody’s economy.com and Lawrence Mishel, President of the Economic Policy Institute.

Arguing against the motion was Eliot Spitzer, former Governor and Attorney General of New York State, James K. Galbraith, Economist and Professor of Government/Business Relations at the University of Texas at Austin and Allen Meltzer, Economist at Carnegie Mellon University’s Tepper School of Business.

Among the debate’s highlights.

“…The fundamental error of this administration is that it is continuity.

They have embraced the Bush Administration view that if you solve the problem of big banks everything else flows from that. They are wrong.

Too big to fail is too big. They don’t get it. The only two people I know who don’t appreciate that are Tim Geithner and Larry Summers.” – Eliot Spitzer

“Tim Geithner and Larry Summers, the two principal economic policy makers, have strong views of principle but they are experienced, they are pragmatic. They know how to get things done. They are balanced and they are very thoughtful. And I think that the approach that they have taken throughout this process has been enormously positive.” – Steve Rattner

“What would a working program look like? First it would dissolve rather than coddle the toxic banks. It would stop the displacement of people from their homes, not just slow it…” Better than nothing is not good enough.” – James Galbraith

“I think it’s really quite amazing the totality of the policy response from the administration…” “The financial system is not normal, no, but it is stable.” – Mark Zandi

“The composition of the stimulus … was decided in the Congress. It was a mistake by the Obama administration to let it… because the Congress was interested much more in the redistribution of wealth than it was in seeing jobs and the economy improved. “– Allen Meltzer

“I’m going to focus on the Recovery Act. And I’m here to say that I think it has actually been a bold and effective act.” – Lawrence Mishel



John Donvan, correspondent for ABC News Nightline, is moderator of Intelligence Squared US debates. Dana Wolfe is the executive producer.

To view transcripts and videos, download audio or video clips or learn more about Intelligence Squared US please visit: www.intelligencesquaredus.org : .

Launched in September 2006, the goal of Intelligence Squared US, an initiative of the Rosenkranz Foundation, is to raise the level of public discourse and promote a realization that, on contentious issues, those who challenge the conventional wisdom have intellectually respectable and often persuasive viewpoints. We encourage citizens to “Think Twice” about their opinions and participate in the conversation, and we provide a forum for balanced discussion that transcends emotion and ideology. Through an annual series of 10 live Oxford-style debates, IQ2US brings together experts and audience around public policy and cultural issues. In fact, the live audience participates in each debate by voting on the propositions at the top and bottom of the debate evening.

Skirball Center for the Performing Arts, NYU, is the location for all IQ2US Debates. The series has a media partner, Newsweek; the Bloomberg Television network will air each fall debate; and IQ2US is heard on more than 200 NPR stations nationwide.

For Intelligence Squared USEileen Murphy, 917-913-2233 eileen@eileenmmurphy.com : mailto:eileen@eileenmmurphy.com