Economy the main topic on “Tonight Show”
President Barack Obama became the first sitting president to appear on a television talk show last night when he sat down with Jay Leno on “The Tonight Show.”
Among other topics, Obama and Leno discussed bank bailouts and when lending and personal loans would be back on track again. Obama also talked about energy and technology.
Leno asks “Where is the money?”
During the interview, Leno pointed out that bailout money had been given out to many financial institutions months ago, even before Obama took office.
“I would have thought by this time it would have sort of trickled down to Main Street, to people wanting to get loans — I mean, it all went out there months and months ago. Where is it?” Leno asked.
Obama still filled with hope
Obama explained that many banks held on to their bailout money so they could maintain their capital ratios. He referred to the bailout program as “a diagnostic” that would help the government figure out which banks are ready to start lending again and which ones need more assistance.
He said he has confidence that the banking system will be fixed, along with education, health care and energy.
Shout-out to hybrid cars
On the subject of energy, the president talked about the hybrid plug-in car he had seen that day. He described it as “spectacular.” He says there is the potential and the technology out there to make cars that get 150 miles to the gallon.
Bringing it home
Obama pointed out that much of the technology that has the potential to make a big difference in energy consumption is developed in other countries. The batteries that allow cars to get 150 mpg are built in Japan. Wind power technology is mostly being developed in Europe.
“We need to bring that here, and that’s part of what my budget and part of what our Recovery Act is all about,” Obama said.
You know why he’s the first sitting President to go on the Tonight Show? Because every one of them before that had a sense that they had some work they needed to be doing running the country. You know how a lot of people were mad about bailed out banks sending execs on weekend retreats after they got bailouts? Well, our President has the most turbulent economy in decades to look out for, and he’s going on Jay Leno!