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Hey everyone! I hope you’ve had a great week so far! So…for the second week in a row…I am spending a large portion of my week in a city that is not SF even though my goal was to spend the entire month in SF. When this blog is published, I will be in NYC going to another work conference while also seeing the friends I know up in the Big Apple.
I’m going to be quite pressed to publish this blog, so I don’t want to waste too much time on my BS this week. I recently watched an incredible opening monologue from famous tech VC Bill Gurley at the All-In Summit, a conference put on by the members of one of my weekly must-listen podcasts, All-In (go check it out, fantastic weekend listen). In his talk, Gurley discussed a bunch of topics, including wanting to see more transparency in government. Highly recommend you give this a watch:
After watching this, and having the political side of me (which I somewhat despise) have a resurgence with more attention geared toward the 2024 election, I figured I’d write a blog today about a juxtaposition in D.C. that partially dissuaded me from pursuing a career in the space: politics prolonging problems instead of solving them. Let’s dive in.
Note that I am not the first person to “discover” this issue, so don’t think I’m some genius…cause I’m not. Just wanted to write a blog about this topic to give myself a better understanding of it and give some exposure to this issue with the few blog subscribers I have (although I appreciate every single one of y’all).
Main Political Incentive: STAY IN POWER
Over the last few months, there have been tons of outcry and complaints from the liberal, conservative, and independent media regarding the age of Congress people, and the issues it’s causing (getting both sides of the media to agree says a lot). Currently in our political branches, the average age of the House (58 years), the Senate (64 years), and the Executive Branch (80 years) are some of the oldest in each respective category in history. And unlike almost everything in politics, these age figures are almost completely aligned with both Republicans and Democrats:
While the average ages are already high enough, there have been some specific instances in particular that have created lots of tension amongst Americans:
Mitch McConnell (81 years) freezing at the podium multiple times
Dianne Feinstein (90 years) cedes power of attorney to daughter while still serving in Congress (can’t make decisions for herself, but still for the American taxpayer?)
Nancy Pelosi (83 years) running for reelection amidst concerns about age
Chuck Grassley (90 years) wins reelection in 2022 to become one of the oldest elected members of public office
Biden & Trump both running to become the oldest president in history (although one looks worse than the other…and no…I’m not trying to get political here, just stating facts)
If you need any further proof, just look at the incredible spike in this chart of the percentage of Congress over the age of 70 (full article here).
Some people argue that this trend may even be considered elder abuse, so why is this happening? Well…as with many things in our world, taking a look at the incentives that lie under the hood provides a solid explanation. Some simple incentives include:
Annual allowances to staff their office however they like
Six months to plan and schedule their calendar as they see fit
72% healthcare subsidiary
Six-figure lifelong pension
Ability to reserve seats on flights but only pay for the single flight you board
However, the real incentives are the ones politicians don’t want you to know about, as those are the ones they should be getting in trouble for. For one, being a politician in DC gets you in the circle of power where you can dictate how the most powerful nation in the world operates. This can benefit you (and your family) in many ways both socially and financially, thus opening up more opportunities for you to profit. Just look at this list of Congress members who’ve made money from stocks they influence as well as Senator Bob Menedez indicted for taking up to $400k in bribes.
I can mention countless examples of politicians that have had a shady history at best using their influence for personal gain (Secret Empires is a great book on that), but let’s continue. For politicians to maintain all these benefits, what do you think they have to do? Well, the answer is simple: they need to stay in power. The longer they maintain their seat of influence, the longer they get to enjoy all the benefits of having that power.
How do Politicians Stay in Power?
Unless you’re one of the unelected bureaucrats that partially run this country without most of the country’s knowledge (blog relating to this coming soon), the way one keeps power is pretty simple: continue winning elections. So…the question becomes how do politicians win elections?
While there are many tactics and strategies that a politician utilizes to accomplish this goal, one that typically comes across your TV screens every election cycle is the negative ad campaigns against the opposition opponent. This strategy leverages negativity bias, which explains how people respond to negative reinforcement more than positive, by highlighting the perceived failures and shortcomings of their opponents.
Thus, by keeping certain societal problems alive and unsolved, politicians can continuously utilize these as talking points, illustrating their opponent's supposed ineptitude and securing voter support. If these talking points can help you win a few percentage points of votes here and there, why would you ever want to solve them? This tactic ensures that problems persist, forming a perpetual cycle of blame and counter-blame rather than resolution.
Let’s just take a look at some examples:
Healthcare Reform:
Healthcare in the United States remains a significant point of contention. Democrats and Republicans have long debated over solutions, with each party criticizing the other’s proposals. The Affordable Care Act, also known as Obamacare, faced vehement opposition from Republicans, and attempts at repeal served as rallying points for the party. Similarly, proposals for a single-payer system or “Medicare for All” from Democrats are used as talking points to criticize Republican resistance to more comprehensive healthcare reform. This ongoing debate serves as a mobilizing issue for both parties, yet a bipartisan comprehensive solution remains elusive.
Immigration Policy:
Immigration policy in the United States is another divisive issue used by politicians for electoral gains. Some politicians advocate for stricter border controls and immigration laws, using these stances to criticize opponents and appeal to specific voter bases. The situation concerning Deferred Action for Childhood Arrivals (DACA), border wall funding, and family separations at the border have all been focal points of political campaigns, with each side blaming the other for lack of progress, while comprehensive immigration reform remains unaddressed.
Racism:
Probably contentious here, but bear with me on this (lol). While I do believe that there are problems that do persist regarding race in this country, I still believe that America is the most free and one of if not the least racist country in the world today (key word here). Looking at our past, our country had its issues (slavery, Jim Crow, etc.), but politicians and the media will still use it as a major talking point and make you believe racism in America is worse than ever today. The “solutions” proposed, such as ridiculous reparation programs, do a great job of signaling that you’re trying to solve a problem without ever solving it (don’t think these will ever get passed IMO. If they do, what has our country come to). Here’s a great article, and a funny tweet (both from 2021) for more.
There are many more that I could pull from (i.e. gun control, climate change, etc.), but don’t want to make this blog too long. The point is when you look at the incentives, you begin to see that it is sometimes in the best interest of politicians to prolong, or even avoid solving issues to maintain their power.
Political Structure Doesn’t Help Either
Besides the incentives that come with not completely solving issues in order to help win re-election, the structure of the US political system itself also creates cases where problems go unsolved. How so? Well, the constraints of electoral cycles often shape the priorities of politicians, steering them towards initiatives that yield immediate benefits and positive publicity. This inclination towards the short-term can sometimes eclipse the pursuit of long-term solutions that, while pivotal for societal progress, may not offer instant political dividends.
Politicians operate under the perpetual shadow of re-election and maintain their power (as mentioned before). The desire to secure another term can intensify the focus on policies that deliver immediate results, fostering public approval and positive media coverage. This happens particularly when federal positions are up for re-election in their relatively short-term limits (2 years for the House, 6 years for the Senate, 4 years for the Presidency). This pressure can deter investment in long-term initiatives that might only bear fruit beyond a politician’s term in office.
The issues created by this structure are further enhanced by the electorate’s appetite for immediate improvement as quick wins typically resonate with voters and our easier to communicate as opposed to the nuances and gradual progress of long-term solutions. Also, these politicians typically need to raise capital for their campaigns, and funds will generally go toward those with a legislative track record marked by tangible achievements. Thus, these politicians are enticed to promote short-term fixes that may not provide a sustainable solution.
Conclusion
In examining today’s political dynamics, it's evident that the pursuit of power and self-preservation often overshadow the imperative to address pressing societal issues. The aging demographic of Congress, coupled with a focus on short-term gains influenced by electoral cycles and inherent incentives, perpetuates a cycle where sustainable solutions are secondary to political survival. The manipulation of issues like healthcare, immigration, and racial inequality into political tools exemplifies this, sustaining division and impeding progress. However, recognizing these challenges also presents an opportunity for us, the electorate, to hold our representatives accountable and advocate for change. By understanding and addressing the underlying motivations and incentives that drive political behavior, we can work towards realigning our political structures towards genuine societal well-being and long-term progress.
Thanks for reading everyone! May be a little rough, but hope it was enjoyable and brought some light onto a topic I keep having blog ideas about. Have a few topics I really want to cover (and vary across different industries), so be prepared for anything next week. Ciao my readers!
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