David Schmalz here. Next Monday evening, March 17 marks the beginning of the Panetta Institute's 28th annual Leon Panetta Lecture Series, which, per the Institute’s website, “brings national political leaders and policy thinkers to the Monterey Peninsula to discuss important issues facing the nation and our world.”
The lectures, which are held at the Monterey Conference Center, are always well attended, and are not so dissimilar from a typical panel one can see every night on CNN or MSNBC, except that the discussions go deeper and the tone is more congenial, sober—there’s no shouting over each other.
I first started tuning into the lectures virtually on occasion during the first Trump administration, and more recently, helped screen and write questions for a June 2022 panel featuring journalist Bob Woodward.
But the vibe I’ve always gotten from the lectures—mind you, I started listening in the Trump era—is that of someone whistling as they walk past a graveyard. The speakers, including Panetta himself—who held a number of top positions in government in his political career, including Secretary of Defense—are invariably all part of the old Washington, one that values institutions, decorum and the rule of law.
In the Trump era, the old norms and rules have fallen by the wayside and been replaced by a wannabe authoritarian in the White House and congressional Republicans—who now control both the House and Senate—all too willing to do Trump’s bidding. Some do so with gusto and others, reportedly, because they fear for their political careers or the safety of their families. (Trump’s pardon of Jan. 6 felons sent a clear message that political violence in the name of Trump is acceptable.)
So I found myself asking recently: Has the lecture series run its course? What’s the point of debating policy when the federal government is being steered by the ill-informed whims of one man?
Yesterday, I was able to ask those questions to Secretary Panetta himself, and when I told him the lectures harkened back to a Washington that no longer exists, he said, “I want people to remember that [time].”
And he had plenty more to add.
“That’s why we do the lecture series—to make sure that we can present to the community a discussion about what direction we want our country to take. I’m someone who believes we can take one of two paths. We could be a country in renaissance, and a country that really enjoys a strong future and great economy…We need to have Republicans and Democrats govern together on issues. We need to be a world leader in a very dangerous world.”
Alternatively, he says, “Or, we can be a country in decline. If we allow our prejudices to control what happens, we’ll go the way of past empires.”
But, I asked, didn’t the plurality of voters just choose the latter path last November?
“No election is forever, thank god. If this president continues to govern by chaos and disruption, if he continues to decide that tariffs are the way to strengthen our economy rather than weaken it…if he continues to undermine U.S. foreign policy, then the American people have a fundamental decision to make.”
Ultimately, Panetta says, “If [Americans] elect those that will not protect our democracy, then they’re going to reap the whirlwind. I believe the American people are better than that, that they really do want our democracy to work. You have to believe that in order to have hope we’ll turn this thing around.”
The overarching theme for the 2025 lecture series is “What will be the legacy of the Trump era?” and the panel next Monday will discuss what the economic legacy of the second Trump term might be. Tickets to attend ($100) are available by calling the Institute at 582-4200, and the lecture can also be viewed on the Institute’s YouTube page.
I have plenty of my own thoughts about what Trump’s legacy will be, and from an economic standpoint, I’m confident saying that a government run by billionaires for billionaires will definitely be good for billionaires, regardless of whether there’s a recession for the little people.
Because despite all the chaos of the Trump era—he may have declared war on Canada by Monday for all I know—the rich getting richer is one constant you can bank on.