1 00:00:00,080 --> 00:00:02,160 Speaker 1: We want to share a good friend's podcast with you 2 00:00:02,279 --> 00:00:05,400 Speaker 1: this week, Enjoy the Truth with Lisa Booth in the 3 00:00:05,480 --> 00:00:07,200 Speaker 1: Clay and Buck podcast Network. 4 00:00:07,240 --> 00:00:10,760 Speaker 2: When Ronald Reagan was running against Jimmy Carter in nineteen eighty, 5 00:00:11,000 --> 00:00:14,760 Speaker 2: he asked that famous question, you better off than you 6 00:00:14,800 --> 00:00:18,119 Speaker 2: were four years ago? I think for most Americans, the 7 00:00:18,160 --> 00:00:21,720 Speaker 2: Americans listening to the podcast, that answer is no. We're 8 00:00:21,720 --> 00:00:24,800 Speaker 2: going to talk to EJ and Tony. He recently testified 9 00:00:24,840 --> 00:00:28,560 Speaker 2: before a House subcommittee on the impacts of Bidenomics. He's 10 00:00:28,600 --> 00:00:32,160 Speaker 2: a public finance economist the Heritage Foundation and a senior 11 00:00:32,200 --> 00:00:35,040 Speaker 2: fellow at Committee twin Leash Prosperity. We're going to have 12 00:00:35,159 --> 00:00:39,120 Speaker 2: him break down Bidenomics for us. You know, how has 13 00:00:39,960 --> 00:00:43,840 Speaker 2: Joe Biden's time in office impacted you, impacted the economy, 14 00:00:43,880 --> 00:00:46,559 Speaker 2: and impacted the country. Stay tuned for that conversation with 15 00:00:46,600 --> 00:00:51,800 Speaker 2: EJ and Tony. 16 00:00:52,800 --> 00:00:53,000 Speaker 3: Well. 17 00:00:53,000 --> 00:00:55,640 Speaker 2: EJ, thanks so much for coming back on the show. 18 00:00:55,760 --> 00:00:57,600 Speaker 2: I guess it wasn't too bad the first time, so 19 00:00:57,800 --> 00:00:59,200 Speaker 2: I appreciate you taking the time. 20 00:00:59,360 --> 00:01:01,400 Speaker 3: No, my pleasure, Lisa, thank you for having me. 21 00:01:01,680 --> 00:01:04,920 Speaker 2: So we've got this fight on Capitol Hill right now 22 00:01:04,959 --> 00:01:09,200 Speaker 2: over funding what this you know, continuing resolution could potentially 23 00:01:09,240 --> 00:01:11,120 Speaker 2: look like. You know, how do you think this is 24 00:01:11,160 --> 00:01:13,080 Speaker 2: all going to go down? And what do you think 25 00:01:13,160 --> 00:01:14,760 Speaker 2: the resolution will look like? 26 00:01:15,120 --> 00:01:17,200 Speaker 3: Well, it definitely looks like we're going to have a 27 00:01:17,240 --> 00:01:19,440 Speaker 3: shutdown at least for a little bit. I just don't 28 00:01:19,440 --> 00:01:21,680 Speaker 3: see how Congress is going to be able to reconcile 29 00:01:21,720 --> 00:01:24,759 Speaker 3: all of their many differences at this point with only 30 00:01:24,800 --> 00:01:28,240 Speaker 3: a couple of days left before before the deadline. In 31 00:01:28,319 --> 00:01:30,800 Speaker 3: terms of what this eventually looks like, I think the 32 00:01:30,880 --> 00:01:33,520 Speaker 3: only compromise that they're going to be able to really 33 00:01:33,600 --> 00:01:37,240 Speaker 3: hammer out will be a slight reduction in spending, which 34 00:01:37,280 --> 00:01:41,080 Speaker 3: is a disappointment because we need serious reductions in spending 35 00:01:41,120 --> 00:01:43,959 Speaker 3: to get us on any kind of sustainable fiscal trajectory. 36 00:01:44,280 --> 00:01:46,760 Speaker 3: But what the end product is probably going to end 37 00:01:46,840 --> 00:01:49,840 Speaker 3: up looking like a cross between the most recent fiscal 38 00:01:49,920 --> 00:01:52,520 Speaker 3: year and the previous ones. So again that that just 39 00:01:52,560 --> 00:01:54,360 Speaker 3: looks like a small reduction in spending. 40 00:01:54,480 --> 00:01:57,080 Speaker 2: Do you think that this will result in a shutdown 41 00:01:57,120 --> 00:01:59,120 Speaker 2: for at least in a short period of time. 42 00:01:59,320 --> 00:02:01,920 Speaker 3: Definitely, Again, at least, I just don't see how on 43 00:02:01,960 --> 00:02:04,200 Speaker 3: earth they're going to be able to reconcile all of 44 00:02:04,240 --> 00:02:08,520 Speaker 3: their differences. There are too many non negotiables on both 45 00:02:08,560 --> 00:02:10,960 Speaker 3: sides that are eventually going to have to become negotiables. 46 00:02:11,240 --> 00:02:13,800 Speaker 3: But you know, forty eight seventy two hours, I just 47 00:02:13,840 --> 00:02:16,160 Speaker 3: don't think that's enough time to get that done. 48 00:02:16,360 --> 00:02:19,040 Speaker 2: You know, you go back to the Reagan Carter debate 49 00:02:19,080 --> 00:02:21,200 Speaker 2: in nineteen eighty and he asked that question, are you 50 00:02:21,240 --> 00:02:23,960 Speaker 2: better off than you were four years ago? Take us 51 00:02:24,000 --> 00:02:27,680 Speaker 2: through what's happened to the economy since Joe Biden has 52 00:02:27,720 --> 00:02:30,080 Speaker 2: taken office. Obviously we're not at that four year mark, 53 00:02:30,120 --> 00:02:32,079 Speaker 2: but take us through what we've seen so far. 54 00:02:32,480 --> 00:02:35,120 Speaker 3: No, but Lisa, in a lot of ways, Joe Biden 55 00:02:35,200 --> 00:02:36,160 Speaker 3: has done as much. 56 00:02:36,240 --> 00:02:39,799 Speaker 2: Feels like it, we're not feels like it's. 57 00:02:40,080 --> 00:02:43,680 Speaker 3: Exactly well, Lisa, to that point, Joe Biden has basically 58 00:02:43,720 --> 00:02:46,600 Speaker 3: done as much damage in two and a half years 59 00:02:46,600 --> 00:02:49,240 Speaker 3: as Carter did in four If you look at what 60 00:02:49,320 --> 00:02:53,040 Speaker 3: he's done to energy markets, what he's done to prices generally, 61 00:02:53,080 --> 00:02:56,320 Speaker 3: look at how unaffordable housing is. I was having a 62 00:02:56,360 --> 00:02:59,840 Speaker 3: conversation with someone not that long ago, and she was 63 00:03:00,000 --> 00:03:02,639 Speaker 3: telling me, I don't understand what young people are complaining 64 00:03:02,639 --> 00:03:06,600 Speaker 3: about today with houses, because my first mortgage was twenty 65 00:03:06,760 --> 00:03:11,360 Speaker 3: one percent interest. I get that, But guess what, home 66 00:03:11,400 --> 00:03:15,440 Speaker 3: prices relative to your income were significantly smaller back then, 67 00:03:15,880 --> 00:03:19,080 Speaker 3: And so, believe it or not, housing today is less 68 00:03:19,120 --> 00:03:21,800 Speaker 3: affordable than it was when interest rates were three times 69 00:03:21,800 --> 00:03:25,239 Speaker 3: as high because the price of the home is also 70 00:03:25,280 --> 00:03:28,080 Speaker 3: a big factor in how big your monthly payment is. 71 00:03:28,120 --> 00:03:30,359 Speaker 3: And when the price of the home is so high 72 00:03:30,440 --> 00:03:33,359 Speaker 3: relative to your income, I mean, housing is just unaffordable. 73 00:03:33,480 --> 00:03:38,840 Speaker 3: Half half of Americans today, Lisa cannot qualify for a mortgage. 74 00:03:38,840 --> 00:03:41,680 Speaker 3: I didn't say afford a mortgage, I said qualify for it. 75 00:03:42,160 --> 00:03:44,680 Speaker 3: Even among those who qualify for a mortgage, you still 76 00:03:44,720 --> 00:03:49,080 Speaker 3: have a significant portion who can't afford it. So sorry, 77 00:03:49,120 --> 00:03:51,240 Speaker 3: I'm kind of getting ahead of myself here. What has 78 00:03:51,320 --> 00:03:54,000 Speaker 3: Joe Biden done to the economy? Nothing good? Unfortunately, what 79 00:03:54,040 --> 00:03:58,520 Speaker 3: we've seen are prices steadily rise faster than wages. The 80 00:03:58,560 --> 00:04:02,360 Speaker 3: typical American family right now has lost about fifty one 81 00:04:02,480 --> 00:04:06,839 Speaker 3: hundred dollars in terms of annual purchasing power. So it's 82 00:04:06,880 --> 00:04:09,240 Speaker 3: like if you could roll the clock back to January 83 00:04:09,520 --> 00:04:13,120 Speaker 3: twenty twenty one, knock fifty one hundred dollars off that 84 00:04:13,280 --> 00:04:18,279 Speaker 3: family salary. That's what they're feeling today. But because prices 85 00:04:18,279 --> 00:04:21,120 Speaker 3: have gone up so much the Federal Reserve has belatedly 86 00:04:21,160 --> 00:04:24,480 Speaker 3: decided to raise interest rates. That's playing into things like 87 00:04:25,360 --> 00:04:29,440 Speaker 3: the exploding cost of housing, but it's also affecting all 88 00:04:29,560 --> 00:04:33,240 Speaker 3: kinds of borrowing, Lisa, everything from credit cards to student loans, 89 00:04:33,240 --> 00:04:35,800 Speaker 3: to auto loans and everything in between. And as a 90 00:04:35,839 --> 00:04:39,320 Speaker 3: result of that, that same typical American family is facing 91 00:04:39,680 --> 00:04:43,479 Speaker 3: about another eighteen hundred dollars a year in higher financing 92 00:04:43,560 --> 00:04:47,400 Speaker 3: costs because all of those different interest charges have gone 93 00:04:47,480 --> 00:04:49,359 Speaker 3: up on all the things that I just mentioned. So 94 00:04:49,400 --> 00:04:52,440 Speaker 3: you put all this together, and the typical American family 95 00:04:52,480 --> 00:04:56,680 Speaker 3: feels like they're seven thousand dollars poorer today compared to 96 00:04:56,680 --> 00:04:59,599 Speaker 3: when Biden took office. I mean, for a lot of families, 97 00:04:59,720 --> 00:05:01,040 Speaker 3: that's a whole month's pay. 98 00:05:01,320 --> 00:05:04,520 Speaker 2: Well, I mean that's a significant amount of money. You 99 00:05:04,640 --> 00:05:08,880 Speaker 2: recently testified before Congress about Bidenomics. If you had to 100 00:05:08,920 --> 00:05:11,719 Speaker 2: sum up Bidenomics, how would you explain it? 101 00:05:11,760 --> 00:05:16,400 Speaker 3: Bidomics is the government spending, borrowing, and creating too much money, 102 00:05:16,440 --> 00:05:17,080 Speaker 3: full stop. 103 00:05:17,240 --> 00:05:21,279 Speaker 1: Okay, And that's not good. No, it's not. 104 00:05:21,360 --> 00:05:25,160 Speaker 3: And there's an it's amazing all of the different negative 105 00:05:25,160 --> 00:05:28,400 Speaker 3: consequences Lisa that stem from that. If we can just 106 00:05:28,440 --> 00:05:30,280 Speaker 3: go back to March for a second, when we had 107 00:05:30,320 --> 00:05:33,359 Speaker 3: the banking crisis, which by the way, is still not 108 00:05:33,520 --> 00:05:35,560 Speaker 3: over All that has happened from that is that the 109 00:05:35,600 --> 00:05:39,200 Speaker 3: Fed papered over the crisis with a bunch of emergency loans. 110 00:05:39,520 --> 00:05:41,599 Speaker 3: But those loans are only last for a year, and 111 00:05:41,600 --> 00:05:44,359 Speaker 3: when they expire, all those regional banks are going to 112 00:05:44,360 --> 00:05:47,280 Speaker 3: be in exactly the same terrible shape according to their 113 00:05:47,320 --> 00:05:49,680 Speaker 3: balance sheets that they were then. So all we did 114 00:05:49,760 --> 00:05:51,840 Speaker 3: there was kick the can down the road. But how 115 00:05:51,880 --> 00:05:54,160 Speaker 3: did we get there in the first place. We got 116 00:05:54,240 --> 00:05:58,320 Speaker 3: there because the Federal Reserve created systemic interest rate risk, 117 00:05:58,360 --> 00:06:00,839 Speaker 3: which is a fancy way of saying they kept interest 118 00:06:00,960 --> 00:06:04,159 Speaker 3: rates way too low for way too long. They promised 119 00:06:04,160 --> 00:06:07,040 Speaker 3: inflation was transitory and rates wouldn't go back up, and 120 00:06:07,080 --> 00:06:10,400 Speaker 3: they did all of this to finance the massive deficits 121 00:06:11,000 --> 00:06:14,839 Speaker 3: that Congress was authorizing by spending money that they didn't have. 122 00:06:15,480 --> 00:06:19,240 Speaker 3: And the consequence of that is we've jeopardized our entire 123 00:06:19,320 --> 00:06:22,960 Speaker 3: financial system. The dollar has lost value. We have shaking 124 00:06:23,000 --> 00:06:25,440 Speaker 3: confidence in the dollar, not just at home but abroad. 125 00:06:25,720 --> 00:06:27,719 Speaker 3: Look at all the countries around the world that that 126 00:06:27,800 --> 00:06:30,520 Speaker 3: are de dollarizing. In other words, they're no longer going 127 00:06:30,560 --> 00:06:35,480 Speaker 3: to use the dollar for settling international transactions, for international trade. Well, 128 00:06:35,520 --> 00:06:37,440 Speaker 3: what's going to happen to all of those dollars that 129 00:06:37,480 --> 00:06:39,520 Speaker 3: aren't being used that way anymore? They're going to all 130 00:06:39,560 --> 00:06:41,880 Speaker 3: come pouring home. I mean, this is just going to 131 00:06:41,920 --> 00:06:43,440 Speaker 3: fuel inflation even further. 132 00:06:43,680 --> 00:06:45,000 Speaker 1: But you did papering over. 133 00:06:45,200 --> 00:06:47,600 Speaker 2: Isn't all we do though, you know, I mean, even 134 00:06:47,680 --> 00:06:51,160 Speaker 2: dealing with this continuing Resolution, it's papering over. It's not 135 00:06:51,160 --> 00:06:54,960 Speaker 2: doing the you know, the proper appropriations process on Capitol Hill. 136 00:06:54,960 --> 00:06:58,719 Speaker 2: We papered over government shutdown or you know, during COVID 137 00:06:58,800 --> 00:07:03,839 Speaker 2: right lockdowns, shutting businesses down, destroying businesses with this injection 138 00:07:04,080 --> 00:07:06,440 Speaker 2: of cash into the economy, which is called inflation, you know, 139 00:07:06,560 --> 00:07:07,640 Speaker 2: which is caused inflation. 140 00:07:07,720 --> 00:07:08,520 Speaker 1: So it's like, isn't that. 141 00:07:08,520 --> 00:07:09,240 Speaker 3: All we do? 142 00:07:09,760 --> 00:07:13,480 Speaker 2: Really is that there's no desire, there's no solving problems. 143 00:07:13,480 --> 00:07:15,520 Speaker 2: All we do is paper over them, which then creates 144 00:07:15,560 --> 00:07:16,280 Speaker 2: new problems. 145 00:07:16,400 --> 00:07:18,560 Speaker 3: Exactly. Could not agree with you more, Lisa, And this 146 00:07:18,680 --> 00:07:21,520 Speaker 3: is why, you know, every time the Federal Reserve tries 147 00:07:21,600 --> 00:07:24,480 Speaker 3: to draw down its balance sheet, every time it tries 148 00:07:24,520 --> 00:07:27,200 Speaker 3: to raise rates, every time it tries to reverse course 149 00:07:27,600 --> 00:07:31,600 Speaker 3: and go from loose monetary conditions to tighter monetary conditions. 150 00:07:31,840 --> 00:07:35,680 Speaker 3: It quickly realizes that you can't unwind a Ponzi scheme, 151 00:07:36,000 --> 00:07:39,400 Speaker 3: and that is essentially what we've done with government finance. 152 00:07:39,440 --> 00:07:43,040 Speaker 3: We've turned it into one giant Ponzi scheme, and there 153 00:07:43,160 --> 00:07:46,240 Speaker 3: is no way out of that except pain. It can 154 00:07:46,280 --> 00:07:48,760 Speaker 3: be long term pain, you can stretch it out over 155 00:07:48,800 --> 00:07:51,080 Speaker 3: a very long period of time, like what we've done 156 00:07:51,120 --> 00:07:55,000 Speaker 3: with inflation. You can have the pain all at once 157 00:07:55,080 --> 00:07:58,040 Speaker 3: when you have these these shocks. That basically is what 158 00:07:58,120 --> 00:08:00,560 Speaker 3: happened in the beginning of the rate in years. We 159 00:08:00,640 --> 00:08:03,920 Speaker 3: had a big economic shock then. But the nice thing 160 00:08:03,960 --> 00:08:05,640 Speaker 3: about that is it gets all the pain out of 161 00:08:05,640 --> 00:08:09,960 Speaker 3: the way and it sets you up for longer term prosperity. Unfortunately, 162 00:08:10,000 --> 00:08:13,440 Speaker 3: this administration, everyone from the White House to Congress, to 163 00:08:13,480 --> 00:08:17,000 Speaker 3: the Treasury to the Federal Reserve, everyone in DC, seems 164 00:08:17,040 --> 00:08:20,560 Speaker 3: to rather go the route of just kicking the can 165 00:08:20,640 --> 00:08:21,280 Speaker 3: down the road. 166 00:08:21,480 --> 00:08:24,160 Speaker 2: But is that because no one wants to be responsible 167 00:08:24,280 --> 00:08:27,760 Speaker 2: for the pain? Right, So, even if Joe Biden or 168 00:08:27,840 --> 00:08:30,440 Speaker 2: the next Republican president know that that's what it would 169 00:08:30,520 --> 00:08:33,160 Speaker 2: take to turn things around, to put the country back 170 00:08:33,200 --> 00:08:38,280 Speaker 2: on a longer sustainable path, in the future. Nobody wants 171 00:08:38,280 --> 00:08:41,040 Speaker 2: to be responsible for that pain politically. 172 00:08:40,640 --> 00:08:44,360 Speaker 3: Certainly, that is definitely a big consideration, and that's one 173 00:08:44,400 --> 00:08:46,920 Speaker 3: of the reasons why there's a good chance that the 174 00:08:46,920 --> 00:08:50,200 Speaker 3: Federal Reserve is basically going to balk next year as 175 00:08:50,240 --> 00:08:52,360 Speaker 3: we go into an election. We like to talk about 176 00:08:52,360 --> 00:08:56,200 Speaker 3: the Federal Reserve as being politically independent, but let's face it, 177 00:08:56,240 --> 00:08:59,120 Speaker 3: they're not. I mean, Jerome Powell wanted to get renominated, 178 00:08:59,160 --> 00:09:02,000 Speaker 3: so he kept interest rate slow so Joe Biden would 179 00:09:02,000 --> 00:09:04,360 Speaker 3: renominate him, and he got what he wanted and the 180 00:09:04,360 --> 00:09:07,719 Speaker 3: rest of us got inflation. And so you're absolutely right. 181 00:09:07,760 --> 00:09:10,920 Speaker 3: People don't want to go through the political pain, and 182 00:09:10,960 --> 00:09:15,360 Speaker 3: so our political leaders aren't willing to make the tough decisions. 183 00:09:15,400 --> 00:09:17,600 Speaker 3: But I mean, frankly, I think, Lisa, there's a lot 184 00:09:17,640 --> 00:09:21,559 Speaker 3: of Americans who aren't willing to go through that pain either. 185 00:09:22,400 --> 00:09:24,880 Speaker 3: It is a lot easier to get another hit than 186 00:09:24,920 --> 00:09:28,000 Speaker 3: to go through detox, and it seems like that is 187 00:09:28,240 --> 00:09:29,760 Speaker 3: the preference of most people today. 188 00:09:29,800 --> 00:09:33,960 Speaker 2: Unfortunately, you know, we've got sixty percent of Americans living 189 00:09:34,000 --> 00:09:38,359 Speaker 2: paycheck to paycheck. How does that stack up with previous generations? 190 00:09:38,559 --> 00:09:41,520 Speaker 3: Oh goodness, I mean, it's not as bad as say, 191 00:09:41,559 --> 00:09:45,319 Speaker 3: the Great Depression, But it's certainly just as bad as 192 00:09:45,400 --> 00:09:48,480 Speaker 3: the worst parts of the Carter Years, as the worst 193 00:09:48,520 --> 00:09:52,480 Speaker 3: parts of a couple of recessions in the fifties and sixties. 194 00:09:52,960 --> 00:09:55,800 Speaker 3: So we have been here before, and we have been worse. 195 00:09:55,840 --> 00:09:57,160 Speaker 3: It's not the end of the world, but I mean, 196 00:09:57,200 --> 00:10:00,480 Speaker 3: it's clearly not good. And if you ever I wondered 197 00:10:00,559 --> 00:10:03,120 Speaker 3: what would happen if, for example, the government just decided 198 00:10:04,000 --> 00:10:06,880 Speaker 3: to raise taxes by trillions of dollars one year, Well, 199 00:10:06,880 --> 00:10:09,600 Speaker 3: that's basically what we've seen. Not basically, it's literally what 200 00:10:09,600 --> 00:10:13,040 Speaker 3: we've seen through inflation. The government has just taxed the 201 00:10:13,040 --> 00:10:16,640 Speaker 3: American people into oblivion, and by taking away all of 202 00:10:16,640 --> 00:10:20,520 Speaker 3: that what used to be disposable income, the American people 203 00:10:20,520 --> 00:10:22,960 Speaker 3: are left with the scraps and are having to try 204 00:10:23,000 --> 00:10:24,840 Speaker 3: to make ends meet with that. That's a big reason 205 00:10:24,880 --> 00:10:29,280 Speaker 3: why people are taking two three jobs today. Looking at 206 00:10:29,320 --> 00:10:31,680 Speaker 3: something like net household wealth, I think is a really 207 00:10:31,679 --> 00:10:35,600 Speaker 3: good indicator here, Lisa, because net household wealth is technically 208 00:10:35,640 --> 00:10:38,400 Speaker 3: at a record high today, but that's before you adjust 209 00:10:38,440 --> 00:10:41,480 Speaker 3: for inflation. As soon as you do that, you find 210 00:10:41,520 --> 00:10:44,120 Speaker 3: that it is basically right where it was in the 211 00:10:44,200 --> 00:10:46,280 Speaker 3: last quarter of twenty twenty, in other words, when Trump 212 00:10:46,400 --> 00:10:50,320 Speaker 3: left office. So virtually all of the increases that we 213 00:10:50,440 --> 00:10:55,160 Speaker 3: have seen under Joe Biden are literally just paper money. 214 00:10:55,200 --> 00:10:59,040 Speaker 3: It's not real, it's just inflation. All of that additional 215 00:10:59,080 --> 00:11:03,040 Speaker 3: household wealth has been confiscated by the government through that 216 00:11:03,160 --> 00:11:04,760 Speaker 3: hidden tax and fairness. 217 00:11:04,840 --> 00:11:06,320 Speaker 1: It's not just Biden, you know. 218 00:11:06,400 --> 00:11:10,080 Speaker 2: The last year of you know, Trump's administration too, we 219 00:11:10,160 --> 00:11:13,079 Speaker 2: saw a lot of government spending with COVID. How is 220 00:11:13,640 --> 00:11:16,280 Speaker 2: Joe Biden's energy policies, I mean, even looking at the 221 00:11:16,440 --> 00:11:20,440 Speaker 2: UAW strike obviously, this push for you know, putting a 222 00:11:20,480 --> 00:11:23,520 Speaker 2: gun to autobaker's heads, as well as you know, consumers 223 00:11:23,559 --> 00:11:26,760 Speaker 2: and into us this push for electric vehicles. You know, 224 00:11:26,800 --> 00:11:30,240 Speaker 2: talk about how Joe Biden's green energy policies have shaped 225 00:11:30,280 --> 00:11:34,040 Speaker 2: the economy and how they will continue to shape the economy. 226 00:11:34,120 --> 00:11:37,480 Speaker 3: I would distinguish, you know, when we talk about things 227 00:11:37,520 --> 00:11:40,760 Speaker 3: like regulatory policy, energy policy, these are all things that 228 00:11:40,800 --> 00:11:44,440 Speaker 3: can increase costs. But maybe this is just the academic 229 00:11:44,480 --> 00:11:46,400 Speaker 3: in me, but I do want to distinguish that from 230 00:11:46,760 --> 00:11:49,920 Speaker 3: from the phenomenon of inflation, which is just prices everywhere 231 00:11:49,920 --> 00:11:53,520 Speaker 3: going up because you're actually devaluing the dollar whereas when 232 00:11:53,520 --> 00:11:57,360 Speaker 3: we talk about Biden's energy policy, we're talking about individual 233 00:11:57,400 --> 00:12:00,160 Speaker 3: things becoming more expensive. The reason I think there's a 234 00:12:00,160 --> 00:12:02,880 Speaker 3: lot of overlap there and why people get confused, is 235 00:12:02,920 --> 00:12:05,000 Speaker 3: because the price of energy affects everything we do and 236 00:12:05,040 --> 00:12:07,800 Speaker 3: everything we buy. So of course, when you make oil, 237 00:12:08,040 --> 00:12:11,079 Speaker 3: when you make natural gas, when you make propaane, whatever 238 00:12:11,080 --> 00:12:13,320 Speaker 3: the case may be more expensive, you are going to 239 00:12:13,360 --> 00:12:17,120 Speaker 3: affect the price of everything else. And what we've seen 240 00:12:17,200 --> 00:12:22,040 Speaker 3: under Biden is a repeated throttling of American energy. And 241 00:12:22,200 --> 00:12:25,480 Speaker 3: what's really astounding is that these people clearly are not 242 00:12:25,520 --> 00:12:28,480 Speaker 3: that concerned about the environment, because they're perfectly fine with 243 00:12:28,600 --> 00:12:32,760 Speaker 3: us importing oil and gas from abroad, but not with 244 00:12:32,840 --> 00:12:35,440 Speaker 3: us getting it here at home or heaven forbid, we 245 00:12:35,440 --> 00:12:38,680 Speaker 3: get enough that we can export, like we did under Trump. 246 00:12:39,200 --> 00:12:42,640 Speaker 3: And so as a result of things like removing different 247 00:12:42,640 --> 00:12:45,600 Speaker 3: pieces of land that have a lot of deposits, removing 248 00:12:45,600 --> 00:12:48,800 Speaker 3: that from exploration, getting rid of a lot of drilling 249 00:12:48,800 --> 00:12:51,680 Speaker 3: permits and leases, whether that's up in anwar or other 250 00:12:51,720 --> 00:12:56,319 Speaker 3: federal lands, new taxes on oil, on gas, on coal, 251 00:12:56,760 --> 00:13:00,400 Speaker 3: all of these things are increasing costs, and again, increase 252 00:13:00,440 --> 00:13:03,319 Speaker 3: the cost of energy, you increase the cost of everything else. 253 00:13:03,800 --> 00:13:07,440 Speaker 3: And that's precisely what we've seen throughout this administration, in 254 00:13:07,559 --> 00:13:12,319 Speaker 3: stark contrast to the last administration, where they essentially did 255 00:13:12,320 --> 00:13:16,080 Speaker 3: everything they could to cut red tape to streamline energy 256 00:13:16,160 --> 00:13:20,800 Speaker 3: production and distribution, things like pipelines, for example, that had 257 00:13:20,840 --> 00:13:24,640 Speaker 3: a tremendous impact on bringing down costs. There's a friend 258 00:13:24,679 --> 00:13:27,240 Speaker 3: of mine, he's a professor at a University of Chicago 259 00:13:27,280 --> 00:13:30,960 Speaker 3: and economists, and he has estimated that there are literally 260 00:13:31,040 --> 00:13:35,240 Speaker 3: tens of thousands of dollars in regulatory costs per family 261 00:13:35,679 --> 00:13:39,040 Speaker 3: that have been incurred under the Biden administration versus the 262 00:13:39,080 --> 00:13:43,600 Speaker 3: Trump administration. So those costs actually are adding up to 263 00:13:43,679 --> 00:13:46,120 Speaker 3: be even more of a burden than inflation. 264 00:13:46,400 --> 00:13:48,520 Speaker 2: It's take a quick commercial break more with EJ and 265 00:13:48,600 --> 00:13:51,000 Speaker 2: Tony on the other side. 266 00:13:53,080 --> 00:13:54,080 Speaker 1: So why are they doing it? 267 00:13:54,120 --> 00:13:57,240 Speaker 2: Because to your point, it's not better for the environment, 268 00:13:57,360 --> 00:13:59,920 Speaker 2: I mean that whole You know that's a scam when 269 00:14:00,120 --> 00:14:00,679 Speaker 2: they say that. 270 00:14:00,920 --> 00:14:02,360 Speaker 1: So why are they doing it? 271 00:14:02,400 --> 00:14:04,599 Speaker 3: At least I suppose the pithy answers. You'd have to 272 00:14:04,640 --> 00:14:06,960 Speaker 3: ask them. But if I can put my cinic hat 273 00:14:07,000 --> 00:14:08,000 Speaker 3: on for a moment, I. 274 00:14:07,920 --> 00:14:12,320 Speaker 2: Don't think they'll talk to me. Jay, I don't think 275 00:14:12,400 --> 00:14:13,960 Speaker 2: that Joe Biden will come on here. 276 00:14:13,920 --> 00:14:17,480 Speaker 1: Probably not would be interested. He's too you go to bed, 277 00:14:17,520 --> 00:14:17,920 Speaker 1: it's too. 278 00:14:17,800 --> 00:14:19,560 Speaker 3: Busy hiding in his basement. He won't come on and 279 00:14:19,600 --> 00:14:22,320 Speaker 3: talk to you. Well, since it's just you and me here, 280 00:14:22,560 --> 00:14:24,320 Speaker 3: let me put on my cinic hat for a moment 281 00:14:24,400 --> 00:14:27,800 Speaker 3: and say that this is entirely because of special interests. 282 00:14:27,880 --> 00:14:31,800 Speaker 3: I mean, go back to Silindra. That was the prime 283 00:14:31,880 --> 00:14:35,280 Speaker 3: example and probably the most famous one where or infamous, 284 00:14:35,280 --> 00:14:39,080 Speaker 3: i should say, where you had special interest getting billions 285 00:14:39,120 --> 00:14:42,840 Speaker 3: of taxpayer dollars, and those special interests then turned around 286 00:14:42,840 --> 00:14:46,800 Speaker 3: and gave a chunk of that back to politicians, mostly Democrats, 287 00:14:46,800 --> 00:14:49,600 Speaker 3: but some Republicans too. And sure enough, what did we 288 00:14:49,680 --> 00:14:53,720 Speaker 3: see with the so called infrastructure bill that was passed 289 00:14:53,720 --> 00:14:56,920 Speaker 3: by Joe Biden that received Republican votes too, unlike the 290 00:14:56,920 --> 00:15:01,080 Speaker 3: Inflation Reduction Act, and that contained one hundred of billions 291 00:15:01,160 --> 00:15:04,080 Speaker 3: of dollars that are essentially going to go to these 292 00:15:04,120 --> 00:15:07,640 Speaker 3: special interests of so called green companies that I mean, 293 00:15:07,640 --> 00:15:10,320 Speaker 3: there's nothing green there except the money, the money trail, 294 00:15:10,760 --> 00:15:13,840 Speaker 3: and so these companies who are I mean, look at 295 00:15:13,840 --> 00:15:16,360 Speaker 3: look at what they've done with uh, with the automakers. 296 00:15:16,360 --> 00:15:19,120 Speaker 3: This I think is a great example. We gave Ford 297 00:15:20,040 --> 00:15:24,160 Speaker 3: all of these loans that are guaranteed by taxpayers. So 298 00:15:24,360 --> 00:15:28,479 Speaker 3: if these different ev projects work out and the automakers 299 00:15:28,520 --> 00:15:30,920 Speaker 3: make money, then they can repay the loans, and then 300 00:15:30,960 --> 00:15:33,240 Speaker 3: whatever profit they get after that is theirs to keep. 301 00:15:33,400 --> 00:15:36,960 Speaker 3: But if things go south, if these projects don't work out, 302 00:15:37,280 --> 00:15:39,680 Speaker 3: if they can't sell these cars, or if the research 303 00:15:39,760 --> 00:15:41,760 Speaker 3: and development turns out to all be a flop and 304 00:15:41,800 --> 00:15:44,080 Speaker 3: they can't even make the cars, guess what, they don't 305 00:15:44,120 --> 00:15:46,800 Speaker 3: have to repay the loans. The taxpayers on the hook. 306 00:15:47,280 --> 00:15:51,960 Speaker 3: So what are what are the automakers investors going to do? 307 00:15:52,040 --> 00:15:55,200 Speaker 3: What are the people work for the automakers, the Union's 308 00:15:55,280 --> 00:15:56,960 Speaker 3: going to do. They're going to donate a lot of 309 00:15:57,000 --> 00:15:59,960 Speaker 3: money back to the Democrats who funneled all of them 310 00:16:00,040 --> 00:16:02,640 Speaker 3: money to the special interests in the first place. It 311 00:16:02,720 --> 00:16:05,920 Speaker 3: is just this dirty merry go round of taxpayer dollars. 312 00:16:06,160 --> 00:16:08,320 Speaker 2: You know, I saw that you wrote in a column recently. 313 00:16:08,400 --> 00:16:11,520 Speaker 2: You had written talking about interest rates for the government. 314 00:16:12,120 --> 00:16:14,640 Speaker 2: In less than a decade, interest payments will crowd out 315 00:16:14,680 --> 00:16:18,440 Speaker 2: more than half of existing government spending. What does that 316 00:16:18,560 --> 00:16:21,480 Speaker 2: mean for the country and what does that mean for Americans. 317 00:16:21,680 --> 00:16:25,200 Speaker 3: Not to sound hyperbolic here, but this is the doomsday scenario. 318 00:16:25,760 --> 00:16:27,400 Speaker 3: And I know a lot of people are probably rolling 319 00:16:27,440 --> 00:16:29,240 Speaker 3: their eyes to that and be like, oh, here we go. 320 00:16:30,600 --> 00:16:33,080 Speaker 3: Let me say, Conservatives, I think have had egg on 321 00:16:33,120 --> 00:16:37,040 Speaker 3: their face for several decades now by being hyperbolic when 322 00:16:37,080 --> 00:16:40,480 Speaker 3: talking about the deficit, talking about the debt, and saying, oh, 323 00:16:40,520 --> 00:16:42,080 Speaker 3: this is going to end the country in a certain 324 00:16:42,120 --> 00:16:44,600 Speaker 3: number of years, whatever the case may be. Here's the thing. 325 00:16:44,760 --> 00:16:48,480 Speaker 3: They had the trajectory right, but they had the magnitude wrong. 326 00:16:48,560 --> 00:16:50,840 Speaker 3: They're absolutely right that we're heading in the wrong direction. 327 00:16:51,240 --> 00:16:53,480 Speaker 3: But no one actually knows where the point of no 328 00:16:53,600 --> 00:16:56,200 Speaker 3: return is. It has proven different for different countries at 329 00:16:56,200 --> 00:16:59,000 Speaker 3: different periods in time, in different locations around the world. 330 00:16:59,080 --> 00:17:01,280 Speaker 3: So I'm not going to say, Okay, five more years 331 00:17:01,480 --> 00:17:03,280 Speaker 3: or eight more years, or ten more years of this 332 00:17:03,560 --> 00:17:05,199 Speaker 3: and it's the point of no return. I don't know 333 00:17:05,240 --> 00:17:08,320 Speaker 3: where that is. What I do know is this is 334 00:17:08,840 --> 00:17:13,480 Speaker 3: very very quickly approaching a catastrophic level where the government 335 00:17:13,800 --> 00:17:17,280 Speaker 3: is literally going to be primarily paying for its own debt, 336 00:17:17,400 --> 00:17:20,400 Speaker 3: not providing goods and services to the American people. We're 337 00:17:20,440 --> 00:17:23,359 Speaker 3: not talking about building roads, We're not talking about writing 338 00:17:23,440 --> 00:17:25,920 Speaker 3: checks for Social Security and Medicare. We're not talking about 339 00:17:26,000 --> 00:17:30,080 Speaker 3: financing the military. We are talking about literally just paying bondholders. 340 00:17:30,560 --> 00:17:33,520 Speaker 3: And there is no way out of that, because once 341 00:17:33,560 --> 00:17:36,960 Speaker 3: you get that far down the rabbit hole, you are 342 00:17:37,000 --> 00:17:42,000 Speaker 3: spending so much on debt financing that you don't have 343 00:17:42,160 --> 00:17:45,520 Speaker 3: enough leftover to pay for central services, let alone pay 344 00:17:45,560 --> 00:17:48,880 Speaker 3: down the debt, and so you are stuck constantly taking 345 00:17:48,960 --> 00:17:52,119 Speaker 3: out more debt, and therefore the interest you pay on 346 00:17:52,160 --> 00:17:54,479 Speaker 3: that debt is going to go higher and higher and higher, 347 00:17:54,680 --> 00:17:58,440 Speaker 3: until eventually it becomes the entire budget. Now, obviously that's 348 00:17:58,440 --> 00:18:00,360 Speaker 3: not going to happen. The government would just default at 349 00:18:00,359 --> 00:18:03,520 Speaker 3: that point, like countless governments around the world have before. 350 00:18:03,920 --> 00:18:08,280 Speaker 3: But that's the direction we're heading. It's not good. I mean, 351 00:18:08,400 --> 00:18:10,960 Speaker 3: just looking at interest the latest interest rates today Lisa, 352 00:18:11,000 --> 00:18:15,320 Speaker 3: on different government bonds. Next year, the next fiscal year, 353 00:18:15,320 --> 00:18:17,959 Speaker 3: which begins in just a couple of days here October first, 354 00:18:18,600 --> 00:18:21,320 Speaker 3: we're going to see interest on the debt hit about 355 00:18:21,359 --> 00:18:27,280 Speaker 3: one point five trillion dollars. So the optimistic scenario of 356 00:18:27,359 --> 00:18:30,760 Speaker 3: nine hundred billion or even a trillion dollars, forget that, 357 00:18:30,960 --> 00:18:33,800 Speaker 3: we are going to go way beyond that very very quickly. 358 00:18:34,000 --> 00:18:37,720 Speaker 2: Well, I appreciate your caution and not being Greta Thumberg 359 00:18:37,760 --> 00:18:40,000 Speaker 2: who recently had to deleat a tweet because she said 360 00:18:40,000 --> 00:18:42,480 Speaker 2: that the world would end by twenty twenty three, and 361 00:18:42,480 --> 00:18:46,480 Speaker 2: then of course we're here. So so he's smart. 362 00:18:46,160 --> 00:18:48,159 Speaker 1: To be cautious, you know. 363 00:18:48,240 --> 00:18:52,080 Speaker 2: I mean, given you know what we've seen, and given 364 00:18:52,280 --> 00:18:54,800 Speaker 2: the state of the economy and the country right now, 365 00:18:54,840 --> 00:18:56,879 Speaker 2: I mean, how do you put the genie back in 366 00:18:56,960 --> 00:19:00,760 Speaker 2: the bottle? You know, how do you rectify the wrongs 367 00:19:00,800 --> 00:19:02,000 Speaker 2: of decades? 368 00:19:02,119 --> 00:19:02,199 Speaker 3: Now? 369 00:19:02,920 --> 00:19:05,240 Speaker 1: What do you do moving forward? How do you solve this? 370 00:19:05,960 --> 00:19:06,800 Speaker 1: Is it solvable? 371 00:19:07,080 --> 00:19:09,879 Speaker 3: That's a very very good question. I would say it 372 00:19:09,960 --> 00:19:13,040 Speaker 3: is solvable. You know, we've gotten ourselves into very tight 373 00:19:13,040 --> 00:19:15,280 Speaker 3: spots before. I mean, let's face it, we had a 374 00:19:15,320 --> 00:19:19,320 Speaker 3: civil war where the country was quite literally torn apart, 375 00:19:19,400 --> 00:19:23,320 Speaker 3: and that to this day remains the most catastrophic event 376 00:19:23,320 --> 00:19:27,120 Speaker 3: in American history, at least in terms of lives lost, 377 00:19:27,160 --> 00:19:30,600 Speaker 3: depending on how you want to adjust for inflation, perhaps 378 00:19:30,640 --> 00:19:34,879 Speaker 3: financially as well. And so we have definitely been through worse. 379 00:19:35,000 --> 00:19:37,520 Speaker 3: We can get through this. The question is do we 380 00:19:37,600 --> 00:19:41,040 Speaker 3: have the political will to actually make that happen? And 381 00:19:41,400 --> 00:19:44,240 Speaker 3: that's where I'm not so sure, because we are at 382 00:19:44,280 --> 00:19:48,040 Speaker 3: a point where so many Americans have become dependent upon 383 00:19:48,080 --> 00:19:52,160 Speaker 3: the government, so many Americans are not even paying federal 384 00:19:52,160 --> 00:19:56,480 Speaker 3: income taxes but getting money from other people's federal income 385 00:19:56,520 --> 00:19:59,600 Speaker 3: taxes that you have to wonder are there enough Americans 386 00:19:59,640 --> 00:20:02,320 Speaker 3: left who have had enough, who are willing to stand 387 00:20:02,400 --> 00:20:05,720 Speaker 3: up and to say no. Because until that happens, the 388 00:20:05,760 --> 00:20:08,359 Speaker 3: spineless politicians aren't going to stand up and say no. 389 00:20:08,480 --> 00:20:11,200 Speaker 3: The only reason they stand up and say no is 390 00:20:11,520 --> 00:20:13,440 Speaker 3: when they know they're going to get fired if they don't. 391 00:20:13,560 --> 00:20:16,320 Speaker 2: Although sadly, I think that's the scenario that a lot 392 00:20:16,359 --> 00:20:20,000 Speaker 2: of Democrats want, is they you know, they want people 393 00:20:20,000 --> 00:20:22,280 Speaker 2: to be dependent on the government because it gives them 394 00:20:22,280 --> 00:20:24,639 Speaker 2: more control, you know. Sadly, I think that's going in 395 00:20:24,640 --> 00:20:27,639 Speaker 2: the direction that you know, portion of the country, you know, 396 00:20:27,680 --> 00:20:29,360 Speaker 2: with intent right, and then. 397 00:20:29,320 --> 00:20:31,679 Speaker 3: Certainly, I mean we are in a lot of ways 398 00:20:31,720 --> 00:20:35,879 Speaker 3: we have surpassed Orwell's nineteen eighty four. And you know, 399 00:20:35,920 --> 00:20:38,600 Speaker 3: for those who have read that, the end of the 400 00:20:38,640 --> 00:20:41,359 Speaker 3: novel is very clear that you know, there is no 401 00:20:41,440 --> 00:20:43,360 Speaker 3: way to put the genie back in the bottle, as 402 00:20:43,359 --> 00:20:45,800 Speaker 3: you said, like, once the government gets to this level 403 00:20:45,840 --> 00:20:50,160 Speaker 3: of control. There is no turning back. You cannot at 404 00:20:50,200 --> 00:20:52,680 Speaker 3: that point put all of the world's evils back into 405 00:20:52,720 --> 00:20:55,600 Speaker 3: Pandora's box. And this is one of the reasons why 406 00:20:55,680 --> 00:20:59,359 Speaker 3: I and many others are so adamantly opposed to central 407 00:20:59,359 --> 00:21:01,840 Speaker 3: bank digital currencies and why we are fighting tooth and 408 00:21:01,920 --> 00:21:05,480 Speaker 3: nail to not let that happen, because that is nineteen 409 00:21:05,560 --> 00:21:09,240 Speaker 3: eighty four on steroids. That is the government being able 410 00:21:09,280 --> 00:21:13,040 Speaker 3: to monitor every single cent, not only how you earn it, 411 00:21:13,080 --> 00:21:15,280 Speaker 3: but how you spend it, and even dictating to you 412 00:21:15,640 --> 00:21:17,800 Speaker 3: how you can earn it and how you can spend it. 413 00:21:18,720 --> 00:21:21,480 Speaker 3: And by the way, this is not like this again, 414 00:21:21,520 --> 00:21:25,440 Speaker 3: this is not me being hyperbolic. This is central bankers 415 00:21:25,480 --> 00:21:28,919 Speaker 3: and treasury officials from around the world taking off the 416 00:21:28,960 --> 00:21:31,520 Speaker 3: mask at this point and just flat out saying, Hey, 417 00:21:31,560 --> 00:21:33,320 Speaker 3: wouldn't it be great if we had a central bank 418 00:21:33,400 --> 00:21:35,440 Speaker 3: digital currency so that we could do X, Y and 419 00:21:35,600 --> 00:21:38,800 Speaker 3: Z things like limit how many airline miles you fly 420 00:21:38,880 --> 00:21:42,040 Speaker 3: in a year, to cap how much carbon essentially that 421 00:21:42,359 --> 00:21:44,600 Speaker 3: you're spending money on. Wouldn't it be great to have 422 00:21:44,640 --> 00:21:47,280 Speaker 3: a central bank digital currency so that we could put 423 00:21:47,320 --> 00:21:51,600 Speaker 3: an expiration date on people's savings and earnings in other words, 424 00:21:51,600 --> 00:21:53,480 Speaker 3: force them to go out and spend money to quote 425 00:21:53,560 --> 00:21:57,280 Speaker 3: unquote stimulate the economy, even things like limiting how much 426 00:21:57,320 --> 00:22:00,520 Speaker 3: ammunition or firearms you could buy, you name it, so 427 00:22:00,560 --> 00:22:03,359 Speaker 3: that you can't donate maybe to a hate group like 428 00:22:03,400 --> 00:22:06,960 Speaker 3: the like the Heritage Foundation. So you know this is 429 00:22:07,040 --> 00:22:09,680 Speaker 3: I laughed, But this is a very very serious issue, 430 00:22:10,320 --> 00:22:13,080 Speaker 3: and I think it's a very good example of once 431 00:22:13,160 --> 00:22:16,000 Speaker 3: you crossed that threshold, there is no going back. Now. 432 00:22:16,320 --> 00:22:18,800 Speaker 3: We're not there yet, thank god, And in a lot 433 00:22:18,840 --> 00:22:21,560 Speaker 3: of ways, I think federal finance can still be reined in, 434 00:22:21,720 --> 00:22:25,120 Speaker 3: can still be corrected, and we can still save the country, 435 00:22:25,440 --> 00:22:27,800 Speaker 3: but we do have an uphill, an uphill battle at 436 00:22:27,800 --> 00:22:28,240 Speaker 3: this point. 437 00:22:28,400 --> 00:22:32,560 Speaker 2: Now the central banking digital currency is terrifying. So I'm 438 00:22:32,560 --> 00:22:34,400 Speaker 2: glad you brought that up, you know, before we go. 439 00:22:35,280 --> 00:22:39,120 Speaker 2: I assume your message before Congress was not well received 440 00:22:39,160 --> 00:22:42,960 Speaker 2: by some members of the subcommittee. How how was that 441 00:22:43,040 --> 00:22:44,480 Speaker 2: and how was it received? 442 00:22:44,560 --> 00:22:46,439 Speaker 3: Oh, my goodness, Lisa, it was like it was like 443 00:22:46,560 --> 00:22:49,040 Speaker 3: beating my head against a wall. I mean, honest to goodness, 444 00:22:49,640 --> 00:22:51,960 Speaker 3: there's a long list of things that I would much 445 00:22:52,240 --> 00:22:54,679 Speaker 3: have rather done in a lot of ways. I mean, 446 00:22:54,720 --> 00:22:57,720 Speaker 3: I'm still very grateful that I got the invitation to go, 447 00:22:57,760 --> 00:23:00,480 Speaker 3: and I was able to go. But it's just it's 448 00:23:00,720 --> 00:23:04,600 Speaker 3: it's saddening and disheartening when half of the people you're 449 00:23:04,640 --> 00:23:08,000 Speaker 3: speaking to clearly do not listen to a single thing 450 00:23:08,040 --> 00:23:11,119 Speaker 3: you say. And you can tell that both from the 451 00:23:11,160 --> 00:23:14,320 Speaker 3: opening statements from the ranking member, for example, and then 452 00:23:14,320 --> 00:23:19,000 Speaker 3: from all of the questions from the Democrats who none 453 00:23:19,000 --> 00:23:20,879 Speaker 3: of them asked me any questions for some reason. I 454 00:23:20,880 --> 00:23:24,120 Speaker 3: can't imagine why. But and then and then you listen 455 00:23:24,160 --> 00:23:26,800 Speaker 3: to their closing statements and you realize, oh, my goodness, 456 00:23:27,600 --> 00:23:29,800 Speaker 3: you literally didn't hear a single thing I said. You 457 00:23:29,840 --> 00:23:32,600 Speaker 3: have your talking points, you know, you want your your 458 00:23:32,680 --> 00:23:35,680 Speaker 3: video clip that you can send out in a donor email, basically, 459 00:23:36,040 --> 00:23:38,760 Speaker 3: and that's all you're here for. You're not here to 460 00:23:38,840 --> 00:23:41,640 Speaker 3: learn the truth. You're not here to see how actual 461 00:23:41,680 --> 00:23:45,160 Speaker 3: Americans have been impacted by the very policies that you 462 00:23:45,240 --> 00:23:48,159 Speaker 3: put in place, and the policies of which you are 463 00:23:48,200 --> 00:23:51,480 Speaker 3: immune from. But you know, you have no problem putting 464 00:23:51,520 --> 00:23:54,399 Speaker 3: the American people under your thumb as long as you 465 00:23:54,400 --> 00:23:56,960 Speaker 3: don't have to face the ramifications of your own actions. 466 00:23:57,520 --> 00:24:01,360 Speaker 3: They clearly just didn't want to hear any I had 467 00:24:01,359 --> 00:24:04,280 Speaker 3: to say it was. It was completely ignored. Unfortunately, well 468 00:24:04,359 --> 00:24:04,679 Speaker 3: good thing. 469 00:24:04,720 --> 00:24:08,000 Speaker 1: They at least had to listen to it. EJ. Antony. 470 00:24:08,119 --> 00:24:10,680 Speaker 2: We appreciate you taking the time and you know, thanks 471 00:24:10,680 --> 00:24:14,720 Speaker 2: for bringing some sanity on all the some fiscal sanity. 472 00:24:14,840 --> 00:24:16,320 Speaker 1: So we appreciate you taking the time. 473 00:24:16,400 --> 00:24:18,399 Speaker 3: No, my pleasure, Lisa, thank you for having me. 474 00:24:23,760 --> 00:24:24,359 Speaker 1: That was EJ. 475 00:24:24,600 --> 00:24:27,919 Speaker 2: And Tony with the Heritage Foundation. Appreciate him taking the 476 00:24:27,960 --> 00:24:29,960 Speaker 2: time to come on the show and break that all 477 00:24:30,000 --> 00:24:32,560 Speaker 2: down for us. Appreciate you at home for listening every 478 00:24:32,560 --> 00:24:34,560 Speaker 2: Monday and Thursday, but you can listen throughout the week. 479 00:24:34,840 --> 00:24:36,720 Speaker 2: I want to think John Cassio and my producer for 480 00:24:36,760 --> 00:24:38,879 Speaker 2: putting the show together. Feel free to go over to 481 00:24:39,200 --> 00:24:41,280 Speaker 2: Apple Podcasts, give us a review. 482 00:24:40,960 --> 00:24:41,680 Speaker 1: Give us a rating. 483 00:24:42,040 --> 00:24:44,480 Speaker 2: Always love reading those Until next time.