WEBVTT - National Debt 0:00:01.840 --> 0:00:11.320 Jesse Kelly show. Let's have some fun on a Thursday, 0:00:11.680 --> 0:00:15.280 and what a great Thursday it is. The weekend is 0:00:15.440 --> 0:00:20.319 almost here. I'm officially a bachelor for three days. Don't worry. 0:00:20.360 --> 0:00:23.239 I didn't run out on me, so life. I don't 0:00:23.239 --> 0:00:25.160 even know what I'm gonna do with myself over the 0:00:25.160 --> 0:00:27.760 next three days, but I do know for the next 0:00:27.800 --> 0:00:30.600 three hours, I'm gonna screw off with you. We are 0:00:30.720 --> 0:00:33.000 going to talk. We'll talk a little bit more about messaging. 0:00:33.200 --> 0:00:36.520 I got a bunch of emails on the affordability argument. 0:00:36.560 --> 0:00:39.440 We'll touch on that, talk about some more good fraud 0:00:39.520 --> 0:00:42.200 things that are happening. We're gonna talk about little Debbie 0:00:42.280 --> 0:00:46.600 because that's really important. All that so much more coming 0:00:46.680 --> 0:00:49.520 up tonight. Oh, before I forget, we haven't had guests. 0:00:49.560 --> 0:00:51.640 I know very many guests. Well, I think one day 0:00:51.640 --> 0:00:53.760 we had two, and before that had been like two 0:00:53.800 --> 0:00:58.360 months since we had some. I figured it would probably 0:00:58.440 --> 0:00:59.880 be a good time to check back in with b 0:01:00.320 --> 0:01:03.120 We haven't heard BKA and his stupid abs in a while. 0:01:03.200 --> 0:01:05.920 We'll talk to BK. Brandon Darby, we haven't talked to 0:01:06.000 --> 0:01:09.200 him in a while. What's happening on the border, The cartels, 0:01:09.240 --> 0:01:11.800 the war on the cartels, kind of quiet out there 0:01:12.480 --> 0:01:15.720 is everything fine, I truly doubt it. But we're gonna 0:01:15.760 --> 0:01:19.760 do all that tonight on the world famous Jesse Kelly Show. 0:01:19.840 --> 0:01:24.000 And before we do any of that, I need to 0:01:24.040 --> 0:01:28.000 remind you that tomorrow is asked doctor Jesse Friday. Get 0:01:28.080 --> 0:01:32.800 your questions emailed in right now. Ask me anything Jesse 0:01:33.280 --> 0:01:38.240 at jessekellyshow dot com. They are already pouring in. Everyone 0:01:38.319 --> 0:01:41.280 knows the drill will have a good time tomorrow. So 0:01:41.440 --> 0:01:44.760 I actually wanted to start out with this. This is 0:01:44.760 --> 0:01:51.280 an email. It's Jesse. I am disgusted by some of 0:01:51.320 --> 0:01:55.320 the recent rhetoric on the right. My wife and I 0:01:55.440 --> 0:01:59.280 did everything the older generations told us we needed to 0:01:59.360 --> 0:02:03.640 do for success. We went to college, worked long hours, 0:02:03.800 --> 0:02:07.240 lived frugally, et cetera. And now we have an upper 0:02:07.280 --> 0:02:11.840 middle class income living in a modest apartment. Our rent, 0:02:12.080 --> 0:02:15.519 student loan payments, and daycare costs for our new baby 0:02:15.560 --> 0:02:20.480 boy are well over five thousand dollars a month. If 0:02:20.520 --> 0:02:24.640 the choice is voting for AOC or Mamdani or people 0:02:24.680 --> 0:02:27.720 who believe the younger generations who would have large families 0:02:27.720 --> 0:02:29.960 and own homes if they just shut up an eight 0:02:30.080 --> 0:02:34.520 ultra process garbage. It's obvious which side will win. Okay, 0:02:34.639 --> 0:02:39.880 so let's let's have a long talk again about affordability 0:02:39.960 --> 0:02:43.280 and what's going on, because with all the poop throwing 0:02:43.360 --> 0:02:46.639 going on about say this, don't say that this is right, 0:02:46.760 --> 0:02:50.360 this is wrong. Let's get down to the nitty gritty 0:02:50.440 --> 0:02:53.040 of the problem. And some of this you're gonna some 0:02:53.080 --> 0:02:55.600 of this you're gonna nod in agreement with, maybe all 0:02:55.639 --> 0:02:57.920 of it, but some of it may hurt to hear. 0:02:58.760 --> 0:03:04.080 Why is life significantly more expensive now than it was 0:03:04.200 --> 0:03:08.880 five years ago, ten years ago, certainly fifty years ago. Why? Okay, 0:03:08.880 --> 0:03:13.480 so on a macro level, let's let's use the long 0:03:13.600 --> 0:03:16.959 term thing, fifty years. Well, we'll say, over the last 0:03:17.040 --> 0:03:22.280 fifty years, why have prices gone up? What's going on there? 0:03:22.440 --> 0:03:25.320 It's something we're all used to. You'll talk to your 0:03:25.400 --> 0:03:29.200 dad or grandpa or however old you are, and and 0:03:29.240 --> 0:03:31.400 you know, you'll go to Jack in the box and 0:03:31.440 --> 0:03:34.320 you'll get a value meal that costs you six seven 0:03:34.400 --> 0:03:37.120 dollars now, and they'll say, I remember when a treesburger 0:03:37.200 --> 0:03:39.480 costs twenty five cents, And they're right, of course, you 0:03:39.520 --> 0:03:42.480 can go back and look at the menu. What explains that, 0:03:42.520 --> 0:03:45.920 What accounts for that? Whether there's a couple things, there's 0:03:45.960 --> 0:03:47.920 a couple of things that have just been happening that 0:03:47.960 --> 0:03:51.960 are so big they're out of our control and it sucks, 0:03:52.120 --> 0:03:54.920 but it's the way life goes. The first is this 0:03:56.240 --> 0:03:59.960 the debt situation. It's not that we have no control 0:04:00.320 --> 0:04:05.440 over that. But the truth is the national debt is gigantic. 0:04:06.640 --> 0:04:12.320 It's gigantic, and it continues to grow exponentially. And this 0:04:12.520 --> 0:04:17.000 is a problem. It's a problem that I hate to 0:04:17.040 --> 0:04:18.680 put it this way, but I'm just going to give 0:04:18.680 --> 0:04:22.040 it to you between the eyes. It's an untouchable problem 0:04:22.279 --> 0:04:26.640 at this time. Why is it untouchable. Here's why it's 0:04:26.680 --> 0:04:31.520 untouchable because the American people, most of them, maybe this 0:04:31.600 --> 0:04:34.880 doesn't apply to you, but most of the American people, 0:04:35.400 --> 0:04:39.200 they actually like it when the government spends their money. 0:04:40.160 --> 0:04:43.400 They like it. Now, hold on, maybe you're thinking, well, 0:04:43.440 --> 0:04:49.440 not me, Okay, you sure? Trump administration came out and 0:04:49.480 --> 0:04:52.799 announced that we need a one point five trillion dollar 0:04:52.839 --> 0:04:58.080 budget for just the military. We get a new aircraft carrier, 0:04:58.640 --> 0:05:01.320 the USS Jesse Keller, which is what I would name it. 0:05:02.440 --> 0:05:04.520 You happy that day. I want a strong navy. Do 0:05:04.560 --> 0:05:06.279 you want a strong navy. It's not the same. You 0:05:06.320 --> 0:05:09.839 see what I mean. You can pick and choose your thing, 0:05:10.480 --> 0:05:12.280 and now we can go. Look. You can go look 0:05:12.320 --> 0:05:14.719 at a pie chart of the budget of the United 0:05:14.760 --> 0:05:17.760 States of America and see where the money goes. The 0:05:17.800 --> 0:05:21.000 money goes to the military, it goes to Medicare, it 0:05:21.040 --> 0:05:24.520 goes to Social Security, it goes to medicaid. People will 0:05:24.520 --> 0:05:26.919 step in now, now you're probably already typing this email. 0:05:27.000 --> 0:05:29.480 Let me slow down on it. Pause before you hit send. 0:05:29.520 --> 0:05:31.599 You can still send it, but just pause for a 0:05:31.640 --> 0:05:34.479 second and hear me here. This is the point in 0:05:34.520 --> 0:05:37.840 time when people who like that spending in one way 0:05:37.960 --> 0:05:40.719 or the other. Maybe you live on Social Security and 0:05:40.720 --> 0:05:42.400 stuff like that, and believe me, you're not getting judgment 0:05:42.400 --> 0:05:44.640 out of me. You paid into it. So maybe you're 0:05:44.680 --> 0:05:47.320 sitting there ready to fire off that email and say, well, 0:05:47.360 --> 0:05:53.599 maybe if we didn't foreign aid. I will again remind you, 0:05:53.680 --> 0:05:57.880 please go before you send the email and look at 0:05:57.880 --> 0:06:02.360 a pie chart of the budget for the United States 0:06:02.480 --> 0:06:07.480 of America. Foreign eight is bad for the most part. 0:06:07.480 --> 0:06:11.320 Fourign eight is bad. I am against foreign aid, no 0:06:11.480 --> 0:06:15.520 question about it. I am against foreign aid almost universally. 0:06:15.760 --> 0:06:22.440 It's bad. I don't like it. Right, It's a fraction, 0:06:24.160 --> 0:06:25.960 it's a tiny fraction. Do you want to know the numbers? 0:06:26.000 --> 0:06:28.120 These are rough. This is from ten years ago, by 0:06:28.160 --> 0:06:30.840 the way, but these are rough, but they're fairly close. 0:06:31.160 --> 0:06:34.200 Healthcare that'd be Medicare and Medicaid twenty five percent, Social 0:06:34.200 --> 0:06:37.040 Security that'd be twenty four percent. That's half the budget 0:06:37.120 --> 0:06:42.200 right there, those two things half the budget. Non defense 0:06:42.279 --> 0:06:45.919 discretionary spending and stuff like that sixteen percent, Department of 0:06:45.960 --> 0:06:49.200 Defense sixteen percent. And you have a couple other little 0:06:49.200 --> 0:06:53.920 things mixed in there. Net interest going up a lot. 0:06:55.560 --> 0:06:59.840 It's not just well, stop sending money to Ukraine and 0:07:00.120 --> 0:07:04.440 that'll fix things. That's not true. Our budget is eaten 0:07:04.520 --> 0:07:12.600 up by a gigantic military, by Medicare, Medicaid, and social Security. 0:07:13.240 --> 0:07:16.640 That's not me yelling that you shouldn't have those things 0:07:16.640 --> 0:07:20.800 you paid into. That's me explaining the math. That's the math. 0:07:21.200 --> 0:07:24.360 And here's the thing, and this hurts. We can't afford 0:07:24.360 --> 0:07:27.760 those things. We do not make that kind of a money. 0:07:27.840 --> 0:07:30.920 That kind of money, we cannot afford those days. Well, 0:07:31.720 --> 0:07:34.080 set yourself aside for a moment. I'm not trying to 0:07:34.120 --> 0:07:37.640 take away anyone's medical care or social Security check. We're 0:07:37.680 --> 0:07:40.800 going to set aside feelings here and have a frank discussion. 0:07:41.120 --> 0:07:44.680 We are making one thousand dollars a month. We are 0:07:44.760 --> 0:07:49.680 spending fifteen hundred dollars a month, meaning we're financing five 0:07:49.760 --> 0:07:52.760 hundred dollars a month. Obviously, I'm lowering all these numbers 0:07:52.800 --> 0:07:55.560 just so they're more easily palatable. Now, let me ask 0:07:55.640 --> 0:07:59.320 you something. If I'm financing five hundred dollars a month, 0:07:59.520 --> 0:08:02.600 every single month, for year after year after year after 0:08:02.680 --> 0:08:05.520 year after year, and remember I'm only bringing in one 0:08:05.560 --> 0:08:09.640 thousand dollars a month, what is happening. What's happening is 0:08:10.240 --> 0:08:13.920 the loan is getting larger the amount I owe. Obviously 0:08:14.040 --> 0:08:18.600 it's getting larger. The interest payments are getting larger, and 0:08:18.840 --> 0:08:23.880 I don't have the money. The United States of America 0:08:24.000 --> 0:08:28.440 is insanely wealthy with an incredible economy, and we are 0:08:28.560 --> 0:08:32.440 so blessed to live here, but we don't have the 0:08:32.559 --> 0:08:36.240 money we're spending. Now. It does not exist, and it's 0:08:36.240 --> 0:08:38.800 been this way. This is not a recent thing. This 0:08:38.920 --> 0:08:42.040 is not even a Democrat thing, Republican thing. This is 0:08:42.080 --> 0:08:45.600 how the government has operated since we started putting in 0:08:46.040 --> 0:08:50.840 these crazy entitlement programs that have only grown and ever 0:08:50.920 --> 0:08:54.160 since they've gotten here, the debt is just ballooned and 0:08:54.200 --> 0:08:58.800 ballooned and ballooned and ballooned and ballooned with no end 0:08:58.840 --> 0:09:02.400 in sight. And I say no end in sight, because 0:09:02.720 --> 0:09:06.160 I guarantee you, on just this little two minute rant, 0:09:06.520 --> 0:09:09.040 I will show up tomorrow and there will be one 0:09:09.120 --> 0:09:13.120 hundred angry emails screaming at me about don't touch my 0:09:13.200 --> 0:09:16.760 Social Security I guarantee it. Now, that's me. I'm a 0:09:16.880 --> 0:09:19.439 jerk radio host. It won't bother me. What if I'm 0:09:19.440 --> 0:09:22.160 a congressman. You know what those emails translate to, I'm 0:09:22.200 --> 0:09:26.439 gonna lose my next election. I'm gonna keep my spot 0:09:26.480 --> 0:09:28.480 in the House. I'm wanna keep my seat in the 0:09:28.559 --> 0:09:33.240 United States Senate. Therefore, the people with the power to 0:09:33.320 --> 0:09:35.440 do if reforms of any kind, I'm not talking about 0:09:35.480 --> 0:09:38.320 cutting people off. If the people with the power to 0:09:38.440 --> 0:09:42.280 do reforms of any kind will not do reforms because 0:09:42.320 --> 0:09:45.720 the American people don't want them. They don't want reform. 0:09:46.200 --> 0:09:52.240 There's just no outcry for it. None, nobody, No one 0:09:53.240 --> 0:09:56.640 loses their seat in the House of Representatives or the 0:09:56.720 --> 0:10:01.479 Senate for spending too much money. I have been passionately 0:10:01.559 --> 0:10:05.800 following politics for more than two decades. I have never 0:10:05.880 --> 0:10:09.880 seen somebody lose a primary because they spent a lot 0:10:09.920 --> 0:10:13.400 of money. Doesn't happen. It's not something that drives people 0:10:13.440 --> 0:10:18.520 to the polls. So that that's one of the macro things. 0:10:18.559 --> 0:10:21.760 Over a long period of time, the debt continues to grow. 0:10:22.160 --> 0:10:24.960 We are having to pay for the interest, and that 0:10:25.120 --> 0:10:27.280 is driving up prices. It is. It is a huge 0:10:27.360 --> 0:10:31.000 driver of prices. Combine the money printing, which we can 0:10:31.040 --> 0:10:34.160 get two more. Combine that, well, the money printing has 0:10:34.200 --> 0:10:37.040 given you inflation of This is a big reason prices 0:10:37.040 --> 0:10:39.560 have gone up. Now we'll talk about the other stuff 0:10:39.600 --> 0:10:42.920 in a very frank way. Is the Jesse Kelly show. 0:10:43.440 --> 0:10:46.080 Hey Thursday, so we are having in case you just 0:10:46.120 --> 0:10:48.680 now joined us. I got a bunch of emails about 0:10:48.679 --> 0:10:51.240 life is unaffordable and we're having a long talk. It's 0:10:51.240 --> 0:10:54.760 a good day to do it about why So on 0:10:54.800 --> 0:10:59.600 a macro level, the debt, the debt is piling up. 0:11:00.160 --> 0:11:04.560 It is piling up, and the main drivers of it. Again, 0:11:04.640 --> 0:11:07.280 I don't care about your whining or yelling. I can 0:11:07.360 --> 0:11:09.520 read math. I can read a pie chart. The main 0:11:09.640 --> 0:11:13.280 drivers are medicare, medicaid, social security in the military. That 0:11:13.480 --> 0:11:18.800 is roughly roughly seventy to seventy five percent of what 0:11:18.840 --> 0:11:21.800 we spend money on. That's where the money is going. 0:11:22.080 --> 0:11:24.720 You could cut off every dime of foreign aid and 0:11:24.800 --> 0:11:27.240 it wouldn't be a drop in the bucket on the 0:11:27.240 --> 0:11:30.920 debt of this country. That's not me, that's math. You 0:11:30.960 --> 0:11:33.480 don't like it too bad? So sad, that's what it 0:11:33.480 --> 0:11:37.400 looks like. And because the debt is increasing, the interest 0:11:37.440 --> 0:11:41.120 on the debt is increasing, the money printing continues to increase, 0:11:41.280 --> 0:11:44.760 and as that increases the value of your dollar, and 0:11:44.880 --> 0:11:48.839 my dollar goes downhill. Now, why doesn't someone do something 0:11:48.840 --> 0:11:51.000 about it? Because I just told you basic math, and 0:11:51.040 --> 0:11:53.680 everyone knows I'm an idiot. I don't even have a degree. 0:11:53.760 --> 0:11:56.079 I went to community college and I can even read 0:11:56.120 --> 0:11:59.720 a pie chart. So why doesn't someone do something about it? 0:12:00.320 --> 0:12:02.840 Why doesn't Trump do something about it? Why isn't the 0:12:02.880 --> 0:12:05.720 House do something about it? Why doesn't the Senate do 0:12:05.800 --> 0:12:09.440 something about it? Well, you know what, You'll have to 0:12:09.440 --> 0:12:12.120 forgive me, but I'm a bit of an expert on 0:12:12.160 --> 0:12:16.640 this subject. You know why, because I ran for Congress. 0:12:17.160 --> 0:12:20.080 When I got out of the Marine Corps, I got 0:12:20.080 --> 0:12:23.120 super into politics, got super mad, and I ran for 0:12:23.160 --> 0:12:26.319 the United States House of Representatives. And I ran into 0:12:26.400 --> 0:12:29.400 primary against some establishment guy and beat the doors off 0:12:29.480 --> 0:12:31.960 of him. And then I squared off against the Democrat 0:12:32.000 --> 0:12:36.959 Gabrielle Gifford's and almost beat her four thousand votes. They 0:12:36.960 --> 0:12:39.559 had to recount it for a week. I was that 0:12:39.800 --> 0:12:44.400 close to being in Congress. And do you know why 0:12:44.480 --> 0:12:50.559 I didn't get to Congress? What happened beyond my brash style? 0:12:51.120 --> 0:12:55.920 What was the problem. Well, do you know what the 0:12:56.040 --> 0:13:00.559 older people of southern Arizona were seeing every time sat 0:13:00.679 --> 0:13:04.080 down after dinner and turned on the news. Do you 0:13:04.120 --> 0:13:08.520 want to know where those four thousand votes went? Here's 0:13:08.559 --> 0:13:09.080 where they went. 0:13:09.559 --> 0:13:12.640 I'm Noel Hatfield from Tucson, Arizona. I work in the 0:13:12.679 --> 0:13:16.400 construction business. I got my first construction job when I 0:13:16.440 --> 0:13:20.160 was fifteen years old. Been paying into Medicare every paycheck 0:13:20.240 --> 0:13:22.840 since then, for over the last thirty seven plus years. 0:13:23.120 --> 0:13:25.400 Jesse Kelly said that over time he's going to get 0:13:25.440 --> 0:13:28.880 rid of Medicare. I don't think it's right for Jesse 0:13:29.000 --> 0:13:32.520 Kelly and people to decide that. I don't get my 0:13:32.640 --> 0:13:34.280 Medicare that I've been paying. 0:13:34.000 --> 0:13:40.960 For so effective it's shaved off enough order Republican votes. 0:13:41.960 --> 0:13:45.760 Gabrielle Gifford's went right back to Congress. I went back 0:13:45.800 --> 0:13:49.480 to work in construction, not complaining. By the way, greatest 0:13:49.480 --> 0:13:51.600 thing that ever happened to me. I'm not bitter about it. 0:13:51.920 --> 0:13:54.240 You couldn't pay me enough to go to Congress. But 0:13:55.840 --> 0:13:59.719 now tell me the person in Washington, d C. Republican 0:13:59.840 --> 0:14:03.400 or Democrat, who's going to step on that third reel, 0:14:04.320 --> 0:14:06.320 who is it going to be, who is going to 0:14:06.480 --> 0:14:11.600 guarantee an election loss in their next election by touching it? 0:14:11.600 --> 0:14:14.280 It won't be touched. So again, that was a long, 0:14:14.480 --> 0:14:18.120 long way of saying, on a long term, on a 0:14:18.160 --> 0:14:22.400 long term scale, the debt is not something that's going 0:14:22.440 --> 0:14:25.680 to stop growing. It's just not there's no public appetite 0:14:25.720 --> 0:14:28.920 for it. And most people, I know you already understand 0:14:28.920 --> 0:14:31.720 this stuff, but most people who don't pay attention to politics, 0:14:31.920 --> 0:14:35.240 they don't even get it. They don't understand that it's 0:14:35.280 --> 0:14:38.400 not just there's not corporate greed, or it's not justice, 0:14:38.520 --> 0:14:42.320 or it's not just that there are actual fiscal reasons 0:14:42.840 --> 0:14:47.920 why the prices of everything have gone up for so long. Now, 0:14:48.440 --> 0:14:50.880 that was the long term stuff, the money printing, the 0:14:51.000 --> 0:14:55.840 national dat the short term stuff. Of course you already know, 0:14:55.920 --> 0:14:59.480 we talked about it. You don't ever stop your economy 0:15:01.040 --> 0:15:04.480 under any circumstances. It's not just that well COVID didn't 0:15:04.480 --> 0:15:05.960 turn out to be that bat No no, no, no, no, 0:15:05.960 --> 0:15:09.600 no no no. I don't care if Russia starts flying 0:15:09.680 --> 0:15:14.920 over America dropping nuclear bombs on every single city. You 0:15:15.520 --> 0:15:20.480 never look at your economy and say stop. Parts of 0:15:20.520 --> 0:15:23.160 it will stop. Inevitably if you get a nuclear bomb 0:15:23.240 --> 0:15:26.520 or a virus, that's just inevitable. Businesses will close, we 0:15:26.560 --> 0:15:29.400 won't get people showing up to work. That parts will stop. 0:15:29.560 --> 0:15:33.760 There will be economic disruptions. But to have the government 0:15:34.320 --> 0:15:39.560 order it to stop, it's a catastrophe. And after the 0:15:39.600 --> 0:15:43.800 government ordered it to stop, they realized the gears are 0:15:43.880 --> 0:15:47.360 grinding to a halt. What do we do? And so 0:15:47.440 --> 0:15:52.160 the government did the worst possible thing they could have done. 0:15:52.360 --> 0:15:56.880 They went to the famous money printer, and they, in 0:15:57.240 --> 0:16:05.160 rapid succession, printed seven plus trillion dollars in unbacked currency 0:16:05.600 --> 0:16:09.440 and injected it into the economy to try to keep 0:16:09.520 --> 0:16:14.680 those gears moving, to try to keep the economy alive, 0:16:14.920 --> 0:16:18.640 really to try to keep the economic head above water. 0:16:19.120 --> 0:16:22.080 And by the way, I'm sorry, but I have to 0:16:22.120 --> 0:16:25.720 be that guy. The entire time, I was sitting here 0:16:25.800 --> 0:16:29.880 behind this microphone screaming until I lost my voice that 0:16:30.000 --> 0:16:34.600 we were dooming this country and dooming generations for years 0:16:34.880 --> 0:16:38.240 by stopping an economy and printing money. I yelled and 0:16:38.320 --> 0:16:40.800 yelled and yelled and yelled and yelled. And by the way, 0:16:40.840 --> 0:16:43.760 those yells went up to the very highest level. I 0:16:43.840 --> 0:16:46.840 know because I've seen a picture of them sitting on 0:16:46.920 --> 0:16:50.120 the resolute desk in the White House, in the Oval Office. 0:16:51.080 --> 0:16:57.800 But it happened. And we can't put that genie back 0:16:57.800 --> 0:17:02.880 in the lamp for the rest of it because after 0:17:02.920 --> 0:17:07.280 that they installed Joe Biden. Hang is the Jesse Kelly 0:17:07.400 --> 0:17:12.720 Show on a magnificent Thursday. Do not forget tomorrow is 0:17:12.800 --> 0:17:17.520 ask doctor Jesse Friday. Get all your questions emailed in 0:17:17.640 --> 0:17:23.560 right now to Jesseatjessekellyshow dot com. So the money printing, 0:17:24.880 --> 0:17:29.080 it's bad, it's been bad. It really got turned into 0:17:29.160 --> 0:17:34.560 overdrive during COVID. And this is not exactly secret stuff 0:17:34.560 --> 0:17:37.679 that people don't know that they talk about it publicly. 0:17:38.520 --> 0:17:41.120 This is a man by the name of Jared Bernstein. 0:17:41.840 --> 0:17:44.960 You want to hear what we were doing, Well, here's 0:17:45.000 --> 0:17:45.760 what we were doing. 0:17:46.480 --> 0:17:49.800 The US government can't go bankrupt because we can print. 0:17:49.760 --> 0:17:53.719 Our own money. Why does the government even borrow? Well? 0:17:56.320 --> 0:18:00.960 The uh so, the I mean again, some of this 0:18:01.000 --> 0:18:05.600 stuff gets some of the language that some of the 0:18:05.640 --> 0:18:08.040 language and concepts are just confusing. I mean, the government 0:18:08.520 --> 0:18:12.120 definitely prints money, and it definitely lends that money. Which 0:18:12.160 --> 0:18:15.520 is why the government definitely prints money. And then it 0:18:15.600 --> 0:18:18.640 lends that money by selling bonds. 0:18:19.359 --> 0:18:20.000 Is that what they do? 0:18:21.320 --> 0:18:24.480 They they Yeah, they. 0:18:26.600 --> 0:18:27.360 Sell bonds. 0:18:27.480 --> 0:18:30.000 Yeah, they sell bonds, right, since they sell bonds and 0:18:30.000 --> 0:18:31.720 people buy the bonds and lend them the money. 0:18:31.880 --> 0:18:32.320 Yeah. 0:18:32.359 --> 0:18:35.919 So a lot of times, a lot of times, at 0:18:36.000 --> 0:18:38.480 least to my year with MMT, the language and the 0:18:38.520 --> 0:18:41.200 concepts can be unnecessarily confusing. 0:18:41.240 --> 0:18:49.000 But that's Jared Bernstein, Chair of the Economic Council. Okay, 0:18:49.080 --> 0:18:53.439 Jerome Powe, you know big cheese at the Fed. Jerome Powell, 0:18:54.160 --> 0:18:57.479 here's who Hey, hey, Jerome, what'd you do during COVID 0:18:57.480 --> 0:19:02.520 when we stop the economy simply flood the system with money? 0:19:02.680 --> 0:19:05.160 Yes, we did. That's another way to think about it. 0:19:05.760 --> 0:19:07.600 We did, Where does it come from? Do you just 0:19:07.680 --> 0:19:08.119 print it? 0:19:09.280 --> 0:19:12.000 We print it digitally, so we you know, we as 0:19:12.000 --> 0:19:16.359 a central bank, we have the ability to create money digitally, 0:19:16.560 --> 0:19:19.840 and we do that by buying treasury bills or or 0:19:19.880 --> 0:19:24.400 bonds or other government guaranteed securities, and that actually increases 0:19:24.440 --> 0:19:27.879 the money supply. We also print actual currency and we 0:19:27.920 --> 0:19:29.640 distribute that to the Federal Reserve Bank. 0:19:31.520 --> 0:19:37.200 There it is now economics one oh one. I mean, 0:19:37.359 --> 0:19:40.160 anybody can tell you this. It's not exactly like I'm 0:19:40.200 --> 0:19:43.040 breaking it's it's not like this. It's breaking news from 0:19:43.600 --> 0:19:50.520 journalists Jesse. It's journalist Jesse. When you print unpacked currency, 0:19:51.560 --> 0:19:56.640 every dollar you print will be inflationary. It will cause 0:19:56.680 --> 0:19:59.840 the value of the dollar to go down. Now, and 0:20:00.080 --> 0:20:03.040 an economy as big as ours, with all this money 0:20:03.040 --> 0:20:06.600 flowing to and fro, are you going to notice if 0:20:06.600 --> 0:20:11.040 the Federal Reserve prince a dollar unbacked, of course you're 0:20:11.080 --> 0:20:14.840 not a billion dollars even of course you're not. When 0:20:14.840 --> 0:20:18.879 the Federal Reserve in a short period of time prince 0:20:19.160 --> 0:20:24.639 seven plus trillion dollars, you are going to have inflation. 0:20:26.280 --> 0:20:28.200 I don't want to say forever, because I don't want 0:20:28.240 --> 0:20:31.119 it to be disheartening, but you're going to have inflation 0:20:31.320 --> 0:20:34.479 for as long as you're alive, and you're gonna feel it. 0:20:35.080 --> 0:20:38.679 And I looked, Hey, this was me. I was telling 0:20:38.760 --> 0:20:42.000 you this back then. I was yelling, this is what 0:20:42.040 --> 0:20:46.119 it was. That's what I said. Why why inflation? Why 0:20:46.160 --> 0:20:48.800 six point eight percent? Why are we looking at more 0:20:48.840 --> 0:20:52.080 inflation still? Why are working people hurting? We made that 0:20:52.200 --> 0:20:56.920 decision when coronavirus got here, and as a nation, we panicked. 0:20:57.720 --> 0:21:01.040 And I understand. I do understand about the pylon that 0:21:01.119 --> 0:21:07.800 came after. I understand Democrat mayors and governors purposely torpedoed 0:21:07.800 --> 0:21:10.760 their own economies and in order to hurt Donald Trump's 0:21:10.760 --> 0:21:16.120 reelection chances. I get that. How horrible we're Republicans, though, 0:21:16.840 --> 0:21:22.640 I'm sorry I blame I hold people accountable, Republicans and Democrats. 0:21:23.480 --> 0:21:28.040 No mayor, no governor has the authority to tell you your 0:21:28.040 --> 0:21:34.280 job isn't essential. We as a nation decided we were 0:21:34.320 --> 0:21:38.760 going to behave like the communist Chinese when we got sick. 0:21:38.960 --> 0:21:41.760 We were just gonna stop an economy and then up. 0:21:41.920 --> 0:21:43.440 Uh oh, I. 0:21:43.359 --> 0:21:46.480 Guess I didn't see this coming, but I guess people 0:21:46.520 --> 0:21:49.560 do have to pay bills. Let's start, let's start passing 0:21:49.680 --> 0:21:53.040 massive spending bills through Congress and we'll just hand out 0:21:53.080 --> 0:21:53.919 government checks. 0:21:53.960 --> 0:21:57.119 That'll fix it, right, guys. Oh no, oh, it looks 0:21:57.160 --> 0:21:59.639 like we're still hurting from stopping the economy. Oh, I 0:21:59.640 --> 0:22:00.920 have an eye. I have an idea. 0:22:00.960 --> 0:22:05.359 Everyone, Let's print trillions of dollars trillions, and we'll just 0:22:05.480 --> 0:22:07.760 check it at the economy like a monkey throw and 0:22:07.800 --> 0:22:11.040 it's poop. And then two years later, I'm supposed to 0:22:11.080 --> 0:22:12.400 look at inflation numbers and. 0:22:12.400 --> 0:22:21.520 Go, oh dang, how'd that happen? Headline? Eighty percent of 0:22:21.600 --> 0:22:26.080 all US dollars in existence were printed in the last 0:22:26.119 --> 0:22:29.520 twenty two months. That this headline's from twenty twenty one. 0:22:29.600 --> 0:22:33.520 By the way, from four trillion in January of twenty 0:22:33.640 --> 0:22:38.280 twenty to twenty trillion in October of twenty twenty one. 0:22:39.640 --> 0:22:43.720 I I hate to be the bearer of bad news, 0:22:44.480 --> 0:22:47.879 but you can't put that toothpaste back in the tube. 0:22:48.680 --> 0:22:53.960 You can't unprint it. It's not possible. And look, it 0:22:53.960 --> 0:22:55.760 doesn't do any good to go back and say you 0:22:55.800 --> 0:23:00.359 were right or I was right. It's done. Prices aren't 0:23:00.440 --> 0:23:04.760 going back down to pre COVID levels because of that. Now, 0:23:05.600 --> 0:23:10.000 talk about making a bad situation worse. The house was 0:23:10.040 --> 0:23:14.280 already on fire, and then they stole an election and 0:23:14.320 --> 0:23:19.679 installed Joe Biden. They stole an election, they installed Joe Biden. 0:23:20.320 --> 0:23:23.400 Now here's the devastating It was a devastating one two 0:23:23.560 --> 0:23:27.320 punch of installing Joe Biden because you had two separate 0:23:27.400 --> 0:23:30.240 things going on that were they're the same, but they're separate. 0:23:31.000 --> 0:23:34.120 The first thing is this, obviously, Joe Biden didn't run 0:23:34.119 --> 0:23:36.359 the country. You know this by now. It was the 0:23:36.400 --> 0:23:39.720 communists around him who ran the country. And these were 0:23:39.720 --> 0:23:42.960 not run of the mill Democrats. These were the Anita 0:23:43.080 --> 0:23:46.920 Dunn types, the Leisa Monaco types. These were the real 0:23:47.119 --> 0:23:51.000 true died in the wool communists who want to burn 0:23:51.119 --> 0:23:54.200 the country down. So while the house was on fire 0:23:54.520 --> 0:23:57.520 with all the money printing and everything else, then you 0:23:57.760 --> 0:24:01.040 handed the house over to the arsonist. So that was bad. 0:24:01.480 --> 0:24:05.360 Combine that with this. What is the Democrat Party. We've 0:24:05.440 --> 0:24:07.920 described it a million times on this show. It's the 0:24:08.080 --> 0:24:12.119 largest criminal network in the history of the planet, the 0:24:12.359 --> 0:24:16.320 largest one in the history of the planet. Wherever they 0:24:16.480 --> 0:24:21.720 are elected, they will work with their friends, their political allies, 0:24:21.920 --> 0:24:26.800 to steal from the treasury and the Biden administration started 0:24:26.880 --> 0:24:30.720 things like his Infrastructure Bill and everything else. I remember 0:24:30.760 --> 0:24:34.920 the Inflation Reduction Act, which is honest, it's borderline criminal 0:24:35.160 --> 0:24:37.920 that they called it. That had nothing to do with inflation, 0:24:38.440 --> 0:24:42.200 was a gigantic handout to all his friends and allies. 0:24:42.520 --> 0:24:45.679 So with the house on fire, we then stole an 0:24:45.760 --> 0:24:48.680 election and brought in an arsonist and provided him with 0:24:48.840 --> 0:24:53.520 cans of gasoline and matches. Now it gets really bad. 0:24:53.960 --> 0:24:59.560 Then you get this. They start attacking the thing that 0:25:00.480 --> 0:25:05.800 keeps prices down or makes prices high. Energy because they're 0:25:05.840 --> 0:25:09.680 evil communists and because their political allies make solar panels 0:25:09.760 --> 0:25:13.520 and don't drill for oil. They started cutting off oil 0:25:13.680 --> 0:25:17.080 at the knees, cutting off coal at the knees, everywhere 0:25:17.160 --> 0:25:22.000 they went, driving up the cost of energy. They started 0:25:22.000 --> 0:25:24.600