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Speaker 1: On this episode of News World, I wanted to take

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Speaker 1: some time to discuss what is happening on Capitol Health

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Speaker 1: this week and what the Biden Pelosi Schumer team is

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Speaker 1: up to in terms of trying to pass several big

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Speaker 1: government socialist bills. Today, we're going to talk about the

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Speaker 1: death ceiling, the Infrastructure Bill, and the Budget Resolution bill. Together.

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Speaker 1: Infrastructure and Resolution could be upwards of two to four

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Speaker 1: trillion dollars depending on how the negotiation goes, and the

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Speaker 1: scoring right now for the big government socialist bill written

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Speaker 1: by Bernie Sanders is actually five point five trillion if

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Speaker 1: you score it honestly, And the death ceiling discussion is

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Speaker 1: very much part of this, because we can't spend money

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Speaker 1: wildly like the Biden Pelosi Schumer team wants to if

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Speaker 1: we don't have the credit to do so. So let's

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Speaker 1: begin with the Budget Resolution. As a former Speaker of

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Speaker 1: the House, let me start and say that I am

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Speaker 1: awe struck by Pelosi's ability to intimidate, bully, bribe, do

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Speaker 1: whatever is necessary to run a dictatorship with a really

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Speaker 1: tiny majority. I didn't think it was technically possible, and

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Speaker 1: just as a study in the use of power, her

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Speaker 1: speakership will be studied for many years to come as

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Speaker 1: somebody who has built a machine that intimidates people into

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Speaker 1: doing things which are suicidal. I mean, there are a

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Speaker 1: number of Democrats, may be as many as forty or

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Speaker 1: fifty who are going to be defeated because they marched

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Speaker 1: right off the plank with Nancy Pelosi and they're just

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Speaker 1: not going to survive it. But they're doing it anyway

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Speaker 1: because the fear of her today is greater than the

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Speaker 1: fear of the voters in November of next year. Schumer's

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Speaker 1: maneuvering against one of the greatest tactical leaders in the

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Speaker 1: history of the Senate, and McConnell, who knows exactly what

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Speaker 1: he's doing. For the last few weeks, Washing Democrats tried

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Speaker 1: to forget that they lined up to oppose that limit

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Speaker 1: increases during unified Republican government. They pretended these votes are

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Speaker 1: always bipartisan. Well, that was something not true. So now

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Speaker 1: our colleagues have moved on to yet another new argument

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Speaker 1: that is equally flimsy. Now they claimed they'd be perfectly

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Speaker 1: happy to handle this responsibility with fifty one votes done

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Speaker 1: one way, but they'd rather rest the nations credit than

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Speaker 1: doing it with fifty one votes a slightly different way.

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Speaker 1: Can I recommend everybody that you read his memoir, The

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Speaker 1: Long Game to get a sense of how his mind works.

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Speaker 1: McConnell has figured out the strategy he wants, he knows

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Speaker 1: he can impose it, and he's gradually and steadily imposing it.

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Speaker 1: And what they're doing is they're forcing Schumer to take

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Speaker 1: full responsibility on some of these things. And Schumer has

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Speaker 1: a number of Democrats senators up who are in very

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Speaker 1: difficult races, really doesn't want them to have to vote

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Speaker 1: the way they're going to have to vote. McConnell, who

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Speaker 1: wants to get back to being a majority leader, really

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Speaker 1: wants them to have to vote the way they're going

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Speaker 1: to vote. And so he knows exactly what he's trying

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Speaker 1: to do, and so far, I would say that in

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Speaker 1: the Senate that McConnell's winning, McCarthy doesn't have the same

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Speaker 1: opportunity in the House because, as I knew when I

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Speaker 1: was speaker, the House rules mean that if the speaker

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Speaker 1: has two hundred and eighteen votes, they can do virtually anything.

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Speaker 1: The Senate rules are very different, much harder to manage,

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Speaker 1: and the Senate is designed to be pretty dysfunctional, the

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Speaker 1: theory being that if something isn't so popular that you

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Speaker 1: can overcome the friction and inertia, then it shouldn't pass.

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Speaker 1: So there are very different bodies. They're operating differently. Meanwhile,

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Speaker 1: Biden wavers between occasionally being semi competent and at times

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Speaker 1: looking like he's just out to lunch. And I think

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Speaker 1: he's gradually eroding in West Virginia. There's a poll that

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Speaker 1: says his approval rate in West Virginia's eighteen percent. That

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Speaker 1: means one out of every five West Virginians approves of Biden.

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Speaker 1: And this is part of the world that Mansion lives in.

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Speaker 1: As a former governor and a guy who really understands

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Speaker 1: his state, he knows that four out of five West

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Speaker 1: Virginians are anti Biden. So there's not much pressure, but

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Speaker 1: the pressure. And I want to talk about this because

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Speaker 1: it's important in understanding legislative bodies. Legislative bodies are very

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Speaker 1: human institutions. They're like clubs, and particularly in the Senate,

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Speaker 1: where there're only a hundred members, the psychological pressure being

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Speaker 1: brought on both Mansion and Cinema is astonishing because while

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Speaker 1: people back home may dislike what he's doing. He's not

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Speaker 1: back home, he's in Washington, and in Washington he walks

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Speaker 1: into the Democratic Caucus and he's surrounded by all of

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Speaker 1: his quote friends, and he wants to be liked. I

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Speaker 1: learned this from Zell Miller. Zella and I had known

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Speaker 1: each other since he was a state senator and I

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Speaker 1: ran a congressional race as a campaign manager in nineteen

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Speaker 1: sixty four, so we had a very long relationship. He

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Speaker 1: went on to become lieutenant governor, then he became governor,

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Speaker 1: then he became senator. After he was senator, he called

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Speaker 1: me one day and said, what I come buy for breakfast?

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Speaker 1: And I said sure. And this about two thousand and

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Speaker 1: two or two thousand and three, and he said, I

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Speaker 1: just want to apologize. And I said, what are you

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Speaker 1: talking about? And he said, well, you used to always

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Speaker 1: come home and say that the Democratic Caucus was really

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Speaker 1: very radical and that it really put pressure on people.

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Speaker 1: And he said, I'm a loyal Democrat. I spent my

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Speaker 1: whole life in the Democratic Party. I just didn't believe you,

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Speaker 1: he said, now that I've been here, they are so

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Speaker 1: bad and they are so hypocritical and so dishonest. That

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Speaker 1: I quit going to the caucus because I saw no

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Speaker 1: reason to sit around and have them attack me. And

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Speaker 1: the result was he went to New York in two

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Speaker 1: thousand and four and indorsed George W. Bush for president,

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Speaker 1: but he wouldn't switch parties. And this is I think

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Speaker 1: party was happening with Mansion. The Democratic Party had been

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Speaker 1: Zoe Miller's home for his entire life, and he just

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Speaker 1: couldn't bring it to become a Republican. But on the

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Speaker 1: other hand, he couldn't stand the radical Democrats. So the

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Speaker 1: result was that he was a man alone. I think

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Speaker 1: part of the difference is that Zee was a marine,

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Speaker 1: and he was a mountain person, and he has very

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Speaker 1: used to being alone. He didn't care. Mansion, who pretends

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Speaker 1: to be a mountain person, is actually a very sociable

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Speaker 1: He likes people, he wants to be liked, and you're

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Speaker 1: watching him a road as I talk today. The word

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Speaker 1: is out that he's now gone from one point five

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Speaker 1: trillion to two point two trillion. We'll see how he

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Speaker 1: continues to a road. He wants to please people. Zell

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Speaker 1: didn't care one wit about pleasing anybody. He cared about

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Speaker 1: doing his duty. He wrote several great books about lessons

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Speaker 1: he learned as a marine. So the very different personalities.

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Speaker 1: Cinema seems to be more like Zee Miller, although the

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Speaker 1: truth is she's so quiet and not a public drama

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Speaker 1: person that you really don't know what's going on in

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Speaker 1: her head. She also comes from a very different environment.

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Speaker 1: Arizona has a long tradition of producing people like Barry Goldwater,

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Speaker 1: John McCain, and she I think kind of fancies herself

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Speaker 1: in that Maverick role of doing what she wants to do.

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Speaker 1: So they're very different. You can apply pressure and you

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Speaker 1: can apply sort of psychological bribery to Mansion. I'm not

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Speaker 1: sure you can do that too, Cinemasa, you ended up

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Speaker 1: over the weekend with activists in the bathroom. I've never

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Speaker 1: seen any quite like it. I mean, standing outside her

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Speaker 1: toilet as she has closed the door and just waiting

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Speaker 1: for it to come back out, getting it all on film.

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Speaker 1: So we has we knocked on doors for you to

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Speaker 1: get you elected, and just how we got you elected,

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Speaker 1: we can get you out of office if you don't

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Speaker 1: support what you promised us. My name is Blanca. I

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Speaker 1: was right here to the United States when I was

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Speaker 1: three years old. And in two doesn't and tend. My

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Speaker 1: grandparents both got supported because of US ten seventy and

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Speaker 1: I'm here because I definitely believe that we need this

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Speaker 1: pathway to citizenship. My grandfather passed away two weeks ago

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Speaker 1: and I was not able to go to Mexico and

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Speaker 1: visit him because there is no pathway to citizenship, and

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Speaker 1: if we have the opportunity to pass it right now,

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Speaker 1: then we need to do it because there's millions of

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Speaker 1: undocumented people just like me who share the same story.

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Speaker 1: No sense of this is harassment. That's actually a felony

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Speaker 1: in Arizona to do what they were doing. Then she

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Speaker 1: just calmly ignored them went off. Meanwhile, Mansion sitting on

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Speaker 1: his houseboat in Washington is surrounded by radicals and kayaks,

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Speaker 1: which is sort of somehow appropriate. There's a lot of poverty.

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Speaker 1: What are you gonna do for the poor in West Virginia.

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Speaker 1: We're gonna be worthy everything we can to create good opportunities,

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Speaker 1: and we need to tax the rich. Well. I agree

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Speaker 1: with that. I definitely agree that's the one number thing

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Speaker 1: we should be doing is fixing the tax coats. Everybody

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Speaker 1: pays their fair share. We should be also negotiating for

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Speaker 1: lower drug prices. We should be doing all these sad accountable.

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Speaker 1: I agree with you one thousand percent. We're all the same,

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Speaker 1: we really are. And they're all yelling at him about

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Speaker 1: West Virginia and they love West Virginia. Won't e vote

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Speaker 1: radical for West Virginia even though the state itself has

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Speaker 1: rejected that by as I said earlier, by about four

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Speaker 1: to one. So mansion maybe slipping. And it's conceivable by

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Speaker 1: the time you're listening to this that they've found some resolution.

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Speaker 1: The challenge they've got is that Bernie Sanders doesn't want

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Speaker 1: to go below three point five trillion. The radicals in

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Speaker 1: the House don't want to go below three point five trillion. Well,

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Speaker 1: that's not going to happen. So it's why won't add

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Speaker 1: up to that, because that's too small to get our

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Speaker 1: priorities in. So it's going to be somewhere, you know,

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Speaker 1: between one point five and three point five. And remember,

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Speaker 1: the word progressive is totally misleading. These people are all

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Speaker 1: big government socialists. It's a radical wing of big government socialism.

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Speaker 1: And there is a timid wing. I wrote a newsletter

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Speaker 1: recently on the timid versus the bold, but they're all

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Speaker 1: as you can tell by Mansion. I mean, if they

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Speaker 1: come in with a two point two trillion dollars bill,

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Speaker 1: we'd have thought that was a big bill. Now Mansion

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Speaker 1: wants us to think, oh, this is the moderate conservative bologny.

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Speaker 1: The moderate concerning position is zero. He also has said

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Speaker 1: he will not vote for anything that doesn't include the

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Speaker 1: High Amendment. The High Amendment is a very famous right

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Speaker 1: to life amendment that says that no taxpayer money can

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Speaker 1: be used to pay for abortion. Well, the left will

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Speaker 1: never vote to have the High Amendment in this bill.

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Speaker 1: So I don't know whether Mansion was setting up the

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Speaker 1: excuse for automily voting no, or whether Mansion was just

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Speaker 1: setting up a bargaining chip that if he dropped it,

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Speaker 1: they had to pay him with something. But the whole

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Speaker 1: thing is a mess. So here's where they are. The

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Speaker 1: Democrats have to pass a debt ceiling or the credit

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Speaker 1: of the United States crumbles. That has never happened in

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Speaker 1: our history. We actually have only had debt ceilings since

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Speaker 1: about nineteen thirty nine. Prior to nineteen thirty nine, every

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Speaker 1: bond issue was approved by the Congress, except in World

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Speaker 1: War One, where they gave a blanket approval to issue debt.

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Speaker 1: In nineteen thirty nine, faced with FDR's new deal and

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Speaker 1: the rise of the federal debt, they established a limit,

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Speaker 1: which I think at the time was about sixty five

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Speaker 1: billion dollars. Imagine that compared to what we now spend.

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Speaker 1: So they had a crainted for the first time, the

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Speaker 1: requirement that in order to borrow more than that, Congress

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Speaker 1: had to raise the debt ceilings. So we have been

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Speaker 1: involved in that dance for over eighty years. Now that's

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Speaker 1: in principle got to be solved. The question is when

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Speaker 1: does the treasury run out of money? They always lie.

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Speaker 1: I went through several of these when I was in Congress.

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Speaker 1: They always lie. They always tell you they're going to

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Speaker 1: runt of money when they secretly have another week or

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Speaker 1: two left. Because they so totally distrust the politicians that

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Speaker 1: they're afraid if they told you the real date, you'd

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Speaker 1: wait till you got right up on the edge of it.

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Speaker 1: So the Democrats are under huge pressure to raise the

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Speaker 1: debt ceiling because we have never ever failed to meet

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Speaker 1: our debt obligations, and if we did, the effect on

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Speaker 1: markets around the world would be just staggering, and Biden

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Speaker 1: can't stand that that would just crush his presidency. Second,

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Speaker 1: the so called infrastructure Bill, which is part federal highway money,

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Speaker 1: part new ideas involving public transportation. Amtrak is maybe the

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Speaker 1: worst railroad in the industrial world, So of course we're

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Speaker 1: going to give it another hundred billion dollars because by

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Speaker 1: Noise wrote it to and from Wilmington. And then they

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Speaker 1: have a bunch of social programs thrown in. The Republicans,

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Speaker 1: I think sold out much too easily in that Senate,

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Speaker 1: and eighteen of them voted for it. So it's quote

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Speaker 1: by partisan that's sitting there at an estimated one point

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Speaker 1: two trillion. And what's happened is the hard left has

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Speaker 1: said they will not vote for that until they get

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Speaker 1: the three point five trillion dollar bill the Bernie Sanders Route,

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Speaker 1: which of course you probably already know is about a

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Speaker 1: five point five trillion dollar bill if you count it honestly.

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Speaker 1: Now what do I mean but count it honestly. Well,

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Speaker 1: let's say you put in a child tax credit, but

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Speaker 1: you only fund it for three years. Well, what CBO

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Speaker 1: will say is this is going to survive, This is

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Speaker 1: going to become permanent they're not going to repeal this,

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Speaker 1: so they score it for ten years. All of a sudden,

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Speaker 1: the hidden real cost of the bill jumps dramatically. And

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Speaker 1: they did this over and over again because they wanted

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Speaker 1: more goodies than they could pay for. And so they

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Speaker 1: basically wrote a whole series of short term programs that

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Speaker 1: they know will be renewed, but that they just couldn't

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Speaker 1: come out with a five and a half trillion dollar

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Speaker 1: bill and not be laughed out of town. Now Bernie

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Speaker 1: originally had a six trillion dollar bill. He thinks he's

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Speaker 1: already compromised by coming down from the socialist fantasy of

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Speaker 1: six trillion to a mere three and a half trillion.

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Speaker 1: I don't know how he will react as it begins

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Speaker 1: to be obvious that they could end up getting nothing,

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Speaker 1: and so he may decide that two point two trillion

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Speaker 1: with the mansion beats zero, which is where they were

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Speaker 1: drifting towards. On the other hand, the hardliners in the

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Speaker 1: House may decide that they're simply not going to move

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Speaker 1: unless they get their bill first. So they want it's

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Speaker 1: called the Budget Resolution Bill, but it's really the three

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Speaker 1: and a half trillion, or honest counting five and a

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Speaker 1: half trillion, big government socialist bill written of course by

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Speaker 1: a big government socialist, Bernie Sanders. If they hang tough,

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Speaker 1: their position is they will not vote for the infrastructure

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Speaker 1: bill until they get their bill. Now, the moderates are

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Speaker 1: not going to vote for the bill until they get

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Speaker 1: the infrastructure bill. And Pelosi has had to postpone the

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Speaker 1: vote several times now on the infrastructure bill for a

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Speaker 1: very practical reason. She does not have the votes. So

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Speaker 1: now you've come here about what else comes next. We

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Speaker 1: have two albums that were well, the Bipartisan Infrastructure Bill,

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Speaker 1: the BIFF, and of course the Reconciliation. I just told

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Speaker 1: him members of my leadership that the Reconciliation Bill was

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Speaker 1: a culmination of my service in Congress because it was

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Speaker 1: about the children. The children, the children, the children, their health,

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Speaker 1: It's about health, education, the economic security of their families,

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Speaker 1: a clean, safe environment in which they could thrive, and

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Speaker 1: guess the world at peace in which they could succeed.

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Speaker 1: This is more about their domestic first, poor parts of

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Speaker 1: parts of that. So remove all doubt in anyone's mind

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Speaker 1: that we will not have a reconciliation. We will have

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Speaker 1: a reconciliation bill that is for sure. Today the question

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Speaker 1: is about we are proceeding in a very positive way

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Speaker 1: to bring up the bill of the Biff, to do

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Speaker 1: so in a way that can win, and so far,

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Speaker 1: so good. For today it's been blinding in a positive direction.

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Speaker 1: It's impossible, though, to persuade people to vote for the

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Speaker 1: BIFF without the reassurances that the reconciliation bill will occur,

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Speaker 1: and it will, and that we cannot because of rules

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Speaker 1: of the Senate in terms of parliamentarian having to pass

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Speaker 1: on any bill before it comes to the the floor, and

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Speaker 1: pass on a language, we cannot really guarantee what I

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Speaker 1: had hoped in terms of having a more legislative form.

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Speaker 1: And the Republicans have been working very hard to convince

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Speaker 1: their members about ten of them actually like the infrastructure stuff,

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Speaker 1: which includes a fair amount of money for Louisiana for

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Speaker 1: hurricane damage. They have convinced them, apparently not to vote

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Speaker 1: until the Democrats produce two hundred and eighteen votes. So

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Speaker 1: Pelosi can't rely on a handful of Republicans to bail

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Speaker 1: her out, and so she keeps postponing the vote because

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Speaker 1: she doesn't have the votes. Now, the big government socialist bill,

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Speaker 1: the Burning Route enclodes money for a universal pre K childcare,

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Speaker 1: for higher education, one hundred and seven billion dollars to

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Speaker 1: create a pathway to legal status for illegal immigrants, one

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Speaker 1: hundred and thirty five billion for forest fires, carbon emission

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Speaker 1: levels and droughts, three hundred and thirty two billion dollars

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Speaker 1: for public housing, and one hundred and ninety eight billion

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Speaker 1: dollars for clean energy development. This is a bill which

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Speaker 1: is sort of a socialist dream. Sanders has said it

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Speaker 1: would be the biggest expansion of government since FDR in

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Speaker 1: nineteen thirties. As Chairman of the Senate Budget Committee, I

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Speaker 1: am proud to introduce a three point five trillion dollar resolution.

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Speaker 1: This is a budget resolution that will allow the Senate

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Speaker 1: to move forward on a reconciliation bill that, in my view,

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Speaker 1: will be the most consequential and comprehensive piece of legislation

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Speaker 1: for working people, for the elderly, for the children, for

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Speaker 1: the sick, and for the poor that this body has

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Speaker 1: addressed since Franklin Delano Roosevelt the New Deal in the

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Speaker 1: nineteen thirties. So he sees it as an extraordinarily consequential bill,

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Speaker 1: and the Democrats find themselves now in a real mess

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Speaker 1: because they may have gone further than they can go.

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Speaker 1: Sometimes when you end up in a situation like this,

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Speaker 1: you have to be careful not to let your appetite

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Speaker 1: get bigger than your paycheck. And I think that may

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Speaker 1: be where they are. And the other thing to remember, though,

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Speaker 1: is that the Radicals are already playing and maneuvering for

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Speaker 1: the world after Pelosi, so they see proving their muscle

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Speaker 1: as a key part of this. But I think it's

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Speaker 1: important to recognize that when you argue over the spill,

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Speaker 1: it's useful to look at what Sanders and Schumer said

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Speaker 1: when they introduced the original bill for three point five trillion.

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Speaker 1: We do not have the luxury of using a drawn out, convoluted,

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Speaker 1: and risky process. We could prevent a catastrophic default with

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Speaker 1: a simple majority vote tomorrow. If Republicans would just get

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Speaker 1: out of the damn way, we could get this all done.

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Speaker 1: We're not asking them to vote to raise the debt ceiling.

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Speaker 1: That's what they asked us, that's what McConnell asked for

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Speaker 1: three months. Let Democrats vote for it if they got

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Speaker 1: out of the way. That's just what could happen. One

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Speaker 1: of the questions that everybody is going to ask us, well,

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Speaker 1: how's it going to be paid for? Expenci bill three

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Speaker 1: and a half trillion dollars. You know, that's a lot

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Speaker 1: of money. It is. Well, I happen to think, and

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Speaker 1: I know that you do as well, Madam President, that maybe,

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Speaker 1: just maybe the time is now for the wealthiest people

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Speaker 1: in this country and the largest corporations who are doing

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Speaker 1: phenomenally well, but in a given year, many of them

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Speaker 1: have not paid a nickel in federal income tax. Oh,

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Speaker 1: the average Joe, the average Mary out there, they're working,

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Speaker 1: their paying their fair share of taxes. But if you're

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Speaker 1: an Amazon, if you're a Jeff Bezos, if you're one

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Speaker 1: of these multi billionaires, you got lobbyists, you've got accountants,

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Speaker 1: you've got a lawyers, and you can avoid paying your

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Speaker 1: fair share of taxes. Now. In response to all of that,

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Speaker 1: the Congressional Progressive Caucus, which is the hardline left wingers,

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Speaker 1: along with a number of Democrats in the Senate, came

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Speaker 1: out very strongly. He said, we did want even more.

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Speaker 1: Of course, we want that outlay. We would like that

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Speaker 1: outlay to be six trillion, so that we're spending you know,

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Speaker 1: ideally ten you know, having that ten trillion and then

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Speaker 1: having potentially those outlays that bring us back to a

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Speaker 1: six trillion. Point ten trillion is also the number that

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Speaker 1: we wanted to get for a green new deal. But

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Speaker 1: at the same time, the monitors should gone the other way.

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Speaker 1: Senator Mansion talk to reporters in September thirtieth on why

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Speaker 1: he was against the three point five trillion dollars bill.

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Speaker 1: If you had X amount of dollars in your paycheck

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Speaker 1: and you wanted to buy something, and that what you

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Speaker 1: wanted to buy was not affordable right now, you'd save

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Speaker 1: up and buy later. That's all I'm saying. So what's

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Speaker 1: our priorities? Children, pre k I'm strong, I'll prepare childcare,

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Speaker 1: child texpredits. We can do that, but do that in

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Speaker 1: a compassionate way. Targeted. You have basically the meme that

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Speaker 1: meeting incomes sixty eight thousand dollars in America. Can't we

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Speaker 1: use the targeted? You have ninety million people that have

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Speaker 1: they foul tax metterms for fifty thousand dollars or less.

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Speaker 1: Let's target it. I don't think a person that's making

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Speaker 1: two three, four hundred thousand or in as much need

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Speaker 1: as a person on the lower end. If you have

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Speaker 1: x amount, who do you yelp? In that same time period,

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Speaker 1: he told National View that the bill would be dead

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Speaker 1: in arrival if it took out the heighth Amendment. The

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Speaker 1: depth of dimensions commitments are going to be very interesting

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Speaker 1: to watch. At the same time, the hardline progressives, the

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Speaker 1: left winners, dug In and Representative Gaiapaul of Washington, who's

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Speaker 1: the leader of that group, said in response to the

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Speaker 1: question of the one point five trillion dollars as the baseline,

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Speaker 1: remember we used to think a one point five trillion

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Speaker 1: dollar bill was a huge bill. They now think of

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Speaker 1: it as chump change on worthy of themselves. And then

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Speaker 1: the US Chamber of Commerce, which has been playing a

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Speaker 1: very weird zigzag game. The US Chamber had for years

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Speaker 1: been a bulwark of the Republican Party, and a couple

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Speaker 1: of years ago its leadership decided that they needed to

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Speaker 1: sell out to Democrats and start helping democrats. And so

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Speaker 1: they supported a number of Democrats in twenty twenty and

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Speaker 1: worked with the Democrats, and of course, as always happens,

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Speaker 1: after the Democrats patted them on the head and said

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Speaker 1: they were nice, they promptly turned around and began passing

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Speaker 1: things that the Chamber can't possibly before the Chamber hung

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Speaker 1: in there. It was for the infrastructure bill, it was

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Speaker 1: against the socialist big government bill. But the pressures built

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Speaker 1: and the two bills were combined. And when the House Republicans,

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Speaker 1: of what I thought was a very gutsy move by

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Speaker 1: Kevin McCarthy, simply kicked them out, said you cannot be

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Speaker 1: part of our strategy group. We don't trust you, we

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Speaker 1: don't think you're reliable. All of a sudden, the Chamber

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Speaker 1: of Commerce began to find its ideological roots again, and

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Speaker 1: so they issued a statement that opposed any effort to

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Speaker 1: link the two bills. Finally, you have to look at

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Speaker 1: how the activists left has responded to all this. I

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Speaker 1: think the scene which was shown on television again and

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Speaker 1: again of radicals chasing Cinema into the ladies room, standing

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Speaker 1: outside her stall after she closed the door, yelling at

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Speaker 1: her through the door is astonishing. Biden in his usual

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Speaker 1: destructive way. Remember this is the guy who was going

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Speaker 1: to bring us together. When he was asked about it,

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Speaker 1: he just shrugged it off and said, oh, it happens

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Speaker 1: to everybody, which is by the way, a lie. But

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Speaker 1: this is what he actually said. I don't think their

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Speaker 1: appropriate tactics. It happens to everybody from the only people

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Speaker 1: that doesn't happen to people who have Secret Service standing

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Speaker 1: around them. So it's it's part of the process. So

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Speaker 1: now you have a mess involving the Reconciliation Bill as

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Speaker 1: it's called. I would call it a big government socialist

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Speaker 1: bill authored by Bernie Sanders, who is a big government socialist,

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Speaker 1: and the Infrastructure Bill, which is about sixty percent infrastructure

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Speaker 1: and forty percent left wing ideas. That's a mess. Then

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Speaker 1: the debt ceiling is a mess, and here what the

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Speaker 1: real maneuvering is over There's no question that the Democrats

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Speaker 1: could pass raising the debt ceiling and reconciliation, which would

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Speaker 1: be a process which allowed him to do it with

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Speaker 1: only Democratic votes. Fifty Democrats plus the Vice President could

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Speaker 1: pass it under reconciliation in the rules of the Senate. However,

432
00:26:54,280 --> 00:26:56,720
Speaker 1: they have two problems. One is they don't want to

433
00:26:56,720 --> 00:26:59,359
Speaker 1: admit how much they're going to raise it to. I mean,

434
00:26:59,400 --> 00:27:01,919
Speaker 1: they're going to have to raise the debt sailing I

435
00:27:01,960 --> 00:27:05,760
Speaker 1: suspect to almost twenty trillion dollars and maybe more than

436
00:27:05,800 --> 00:27:10,400
Speaker 1: twenty twllion dollars. So in that circumstance, the current death

437
00:27:10,480 --> 00:27:13,760
Speaker 1: sailing actually would be twenty eight point five trillion if

438
00:27:13,800 --> 00:27:18,200
Speaker 1: they raise it much above that. Imagine you are somebody

439
00:27:18,280 --> 00:27:22,359
Speaker 1: like the junior senator from Arizona who is trying to

440
00:27:22,440 --> 00:27:25,600
Speaker 1: run for reelection next year as though he's not a radical,

441
00:27:26,040 --> 00:27:28,159
Speaker 1: and now he's going to vote for this giant number,

442
00:27:28,800 --> 00:27:30,440
Speaker 1: and he's going to be right there. He can't get

443
00:27:30,480 --> 00:27:33,480
Speaker 1: away from it. And yet the pressure from the Biden

444
00:27:33,480 --> 00:27:37,520
Speaker 1: administration is enormous. On July twenty third, the Secretary of

445
00:27:37,520 --> 00:27:41,000
Speaker 1: the Treasury, Janet Yellen, sent a letter to the congressional leadership,

446
00:27:41,680 --> 00:27:46,439
Speaker 1: and in July, the Congressional Budget Office estimated that unless

447
00:27:46,480 --> 00:27:49,639
Speaker 1: the debt limit has increased, the Treasury will probably be

448
00:27:49,720 --> 00:27:54,280
Speaker 1: unable to make its payments starting sometime in October or November.

449
00:27:54,560 --> 00:27:58,919
Speaker 1: I think people now believe it's probably in November because

450
00:27:58,920 --> 00:28:01,639
Speaker 1: the Treasury always has a handful of gimmicks that they

451
00:28:01,680 --> 00:28:03,880
Speaker 1: don't want to talk about that gives them a little

452
00:28:03,920 --> 00:28:08,560
Speaker 1: bit more time. Sexually. Treasury Jennet Yellen, Remember Jennet Yellen

453
00:28:08,760 --> 00:28:12,200
Speaker 1: was the chair of the Federal Reserve, so she understands

454
00:28:12,440 --> 00:28:15,320
Speaker 1: all of this. From the standpoint of what is the

455
00:28:15,359 --> 00:28:17,760
Speaker 1: Federal Reserve going to do if all of a sudden

456
00:28:17,760 --> 00:28:20,639
Speaker 1: they can't issue any debt And so she wrote a

457
00:28:20,720 --> 00:28:24,719
Speaker 1: Wall Street Journal op ed which really raised this question again.

458
00:28:25,680 --> 00:28:29,040
Speaker 1: But in response to all that pressure, on October fourth,

459
00:28:29,119 --> 00:28:32,840
Speaker 1: Miss McConnell sent a letter to Biden about the debt ceiling,

460
00:28:33,440 --> 00:28:36,600
Speaker 1: and on October fourth, Miss McConnell delivered remarks on the

461
00:28:36,640 --> 00:28:39,480
Speaker 1: debt ceiling on the Senate floor. For the last few weeks,

462
00:28:39,520 --> 00:28:43,320
Speaker 1: Washing Democrats tried to forget that they lined up to

463
00:28:43,400 --> 00:28:50,160
Speaker 1: oppose debt limit increases during unified Republican government. They pretended

464
00:28:50,240 --> 00:28:56,560
Speaker 1: these votes are always bipartisan. Well, that was simply not true.

465
00:28:57,720 --> 00:29:00,000
Speaker 1: So now our colleagues have moved on to yet another

466
00:29:00,040 --> 00:29:06,360
Speaker 1: the new argument that is equally flimsy. Now they claimed

467
00:29:06,400 --> 00:29:10,920
Speaker 1: they'd be perfectly happy to handle this responsibility with fifty

468
00:29:10,920 --> 00:29:15,240
Speaker 1: one votes done one way, but they had rather rest

469
00:29:15,280 --> 00:29:17,760
Speaker 1: the nations credit than doing it with fifty one votes

470
00:29:18,240 --> 00:29:22,120
Speaker 1: a slightly different way. So I think what you've got

471
00:29:22,240 --> 00:29:26,480
Speaker 1: here is a debt ceiling problem, the debt ceiling, the

472
00:29:26,560 --> 00:29:31,520
Speaker 1: reconciliation infrastructure, and by December third, they've got to pass

473
00:29:31,600 --> 00:29:35,080
Speaker 1: a new continuing resolution to keep the government running, because

474
00:29:35,080 --> 00:29:38,320
Speaker 1: they only passed one to keep it open until December third.

475
00:29:39,040 --> 00:29:42,640
Speaker 1: All these things are swirling around, and remember the pressures

476
00:29:42,640 --> 00:29:46,240
Speaker 1: that are building that are outside you have. For all

477
00:29:46,240 --> 00:29:49,160
Speaker 1: the hostilities shown to Cinema in the ladies room, were

478
00:29:49,200 --> 00:29:52,520
Speaker 1: shown the mansion on his house vote. Remember the kind

479
00:29:52,560 --> 00:29:56,000
Speaker 1: of attitude we're seeing at Talladega at the college football

480
00:29:56,040 --> 00:30:01,480
Speaker 1: games in Michigan yesterday with the New York Education Board.

481
00:30:01,800 --> 00:30:04,280
Speaker 1: I mean the number of people now who are saying

482
00:30:04,320 --> 00:30:07,800
Speaker 1: really vicious things or are showing a single finger salute

483
00:30:08,200 --> 00:30:10,480
Speaker 1: to Biden, which is what they were doing in Michigan

484
00:30:10,480 --> 00:30:13,560
Speaker 1: as his motorcade went by. I mean, there's a level

485
00:30:13,560 --> 00:30:16,520
Speaker 1: of hostility building in this country that I think is

486
00:30:16,560 --> 00:30:20,680
Speaker 1: a little scary. I think it is a really remarkable

487
00:30:21,000 --> 00:30:24,440
Speaker 1: time and worth your paying attention. So I hope you

488
00:30:24,520 --> 00:30:28,400
Speaker 1: found this a little bit useful in trying to explain.

489
00:30:28,760 --> 00:30:31,320
Speaker 1: If the situation looks like it's a mess, that's a

490
00:30:31,440 --> 00:30:34,360
Speaker 1: sign you accurately understand it. It is a mess, and

491
00:30:34,360 --> 00:30:36,560
Speaker 1: it's a mess in part because they tried to do

492
00:30:36,680 --> 00:30:39,120
Speaker 1: more than they could. They allowed it all to jam

493
00:30:39,200 --> 00:30:42,040
Speaker 1: up against itself, and they now have all these different

494
00:30:42,040 --> 00:30:44,880
Speaker 1: things that are hard coming at the same time, which

495
00:30:44,960 --> 00:30:48,800
Speaker 1: is always dangerous. When I was Speaker, we tried to

496
00:30:48,840 --> 00:30:52,719
Speaker 1: space out change. So we did welfare reform at one point.

497
00:30:52,760 --> 00:30:56,240
Speaker 1: We did food and drug administration reform at another point.

498
00:30:56,280 --> 00:30:58,960
Speaker 1: We did balancing the budget it yet a third point.

499
00:30:59,000 --> 00:31:01,000
Speaker 1: We did a tax cut at a fourth point. But

500
00:31:01,120 --> 00:31:04,160
Speaker 1: we would never have allowed all these things to jam

501
00:31:04,200 --> 00:31:06,720
Speaker 1: into one big mess. And I think it's going to

502
00:31:06,760 --> 00:31:09,000
Speaker 1: be fascinating. I cannot tell you how it's going to

503
00:31:09,080 --> 00:31:11,280
Speaker 1: come out. All I can tell you is that it's

504
00:31:11,320 --> 00:31:14,360
Speaker 1: well worth your paying attention because this is real history.

505
00:31:14,400 --> 00:31:17,120
Speaker 1: This isn't just politics. This is the kind of stuff

506
00:31:17,280 --> 00:31:20,160
Speaker 1: that really changes everything. Let me just say that I

507
00:31:20,200 --> 00:31:23,360
Speaker 1: have great admiration for the way in which Mitch McConnell

508
00:31:23,760 --> 00:31:27,120
Speaker 1: has out maneuver Schumer, and I think he's exactly right.

509
00:31:27,600 --> 00:31:30,000
Speaker 1: And I also believe that what Kevin McCarthy is doing

510
00:31:30,040 --> 00:31:32,600
Speaker 1: in the House is exactly right. And I really admire

511
00:31:32,640 --> 00:31:34,920
Speaker 1: the fact that Kevin had the nerve to kick the

512
00:31:35,120 --> 00:31:37,880
Speaker 1: US Chamber of Commerce out because they've deserved it. They're

513
00:31:37,920 --> 00:31:40,600
Speaker 1: not allies. They get to decide what their identity is,

514
00:31:41,200 --> 00:31:45,120
Speaker 1: and if their identity is a big government collaboration with

515
00:31:45,280 --> 00:31:48,680
Speaker 1: big government socialists, that's one thing. If their identity is

516
00:31:48,680 --> 00:31:51,520
Speaker 1: that they fight for free enterprise and they fight for

517
00:31:51,560 --> 00:31:55,280
Speaker 1: the business community, that's another. Their Washington leadership is totally

518
00:31:55,280 --> 00:32:00,760
Speaker 1: confused about what they're doing. So I admire both McCarthy McConnell.

519
00:32:01,120 --> 00:32:06,520
Speaker 1: I believe that the radicalism of the big government socialists

520
00:32:06,520 --> 00:32:10,000
Speaker 1: from day one has blocked the Republicans. I mean, they

521
00:32:10,000 --> 00:32:12,800
Speaker 1: took the credit card, they ran around spending it. They've

522
00:32:12,840 --> 00:32:15,080
Speaker 1: run up all the bills, and now they're turning to

523
00:32:15,160 --> 00:32:17,720
Speaker 1: us and saying we have to help pay off their bills.

524
00:32:18,320 --> 00:32:21,920
Speaker 1: I don't think so. Everything they've written they've written in secret.

525
00:32:22,200 --> 00:32:24,720
Speaker 1: We have no idea. I'm not even sure they finished

526
00:32:24,760 --> 00:32:28,160
Speaker 1: writing yet the five and a half trillion dollars big

527
00:32:28,200 --> 00:32:31,480
Speaker 1: government socialist bill by Bernie Sanders. But we're supposed to

528
00:32:31,560 --> 00:32:34,640
Speaker 1: somehow bail them out. I think that the position of

529
00:32:34,640 --> 00:32:38,520
Speaker 1: the Republicans ought to be that we are the loyal opposition.

530
00:32:39,040 --> 00:32:42,400
Speaker 1: They ought to establish a set of really significant conditions,

531
00:32:42,800 --> 00:32:45,239
Speaker 1: you want our help in the death ceiling, Dropped the

532
00:32:45,240 --> 00:32:49,680
Speaker 1: three and a half trillion dollar bill, Shrink the infrastructure

533
00:32:49,680 --> 00:32:52,680
Speaker 1: bills so it's only infrastructure. Take out all of your

534
00:32:52,800 --> 00:32:55,680
Speaker 1: radical ideas. If they're not going to do that, they

535
00:32:55,720 --> 00:32:58,760
Speaker 1: get to carry it. But I think Republicans we now

536
00:32:58,800 --> 00:33:01,720
Speaker 1: are ahead in the generarek ballot, that is, which party

537
00:33:01,720 --> 00:33:04,280
Speaker 1: are you likely to vote for. We're moving towards the

538
00:33:04,400 --> 00:33:07,960
Speaker 1: kind of margin we had in twenty fourteen when we

539
00:33:08,040 --> 00:33:11,360
Speaker 1: picked up sixty three seats. I think, as I said earlier,

540
00:33:11,640 --> 00:33:16,040
Speaker 1: in West Virginia, Biden is an eighteen percent approval. Iowa,

541
00:33:16,120 --> 00:33:20,160
Speaker 1: he's at thirty one percent approval. In Arizona with Cinema,

542
00:33:20,200 --> 00:33:23,040
Speaker 1: he's at thirty nine percent approval. I don't think we

543
00:33:23,120 --> 00:33:26,200
Speaker 1: have an obligation to bail them out. They are clearly

544
00:33:26,680 --> 00:33:31,560
Speaker 1: big government socialists. In foreign policy, they're either remarkably incompetent

545
00:33:32,000 --> 00:33:35,120
Speaker 1: or remarkably cowardly. Things like the way they left to

546
00:33:35,120 --> 00:33:39,680
Speaker 1: Afghanistan are a disgrace and a blot on America's honor.

547
00:33:40,040 --> 00:33:42,920
Speaker 1: And I don't think we have any obligation to pretend

548
00:33:42,960 --> 00:33:45,920
Speaker 1: that we're all happy people on the same team and

549
00:33:46,000 --> 00:33:48,760
Speaker 1: we're going to help row the canoe. This is their canoe.

550
00:33:49,240 --> 00:33:51,200
Speaker 1: They get to row it as it takes on water,

551
00:33:51,520 --> 00:33:53,120
Speaker 1: and they get to bail it out as the water

552
00:33:53,200 --> 00:33:55,320
Speaker 1: starts to sink. It. We ought to sit off to

553
00:33:55,360 --> 00:33:57,600
Speaker 1: one side on our little house boat, a much like

554
00:33:57,680 --> 00:34:01,200
Speaker 1: Mansion's houseboat, and we have a nicer Publican houseboat and

555
00:34:01,360 --> 00:34:04,560
Speaker 1: watch them drown. And I think by next summer the

556
00:34:04,600 --> 00:34:07,360
Speaker 1: American people will be so irritated they'll be glad to

557
00:34:07,360 --> 00:34:10,279
Speaker 1: help them drown. So at that point you'll have a

558
00:34:10,320 --> 00:34:13,400
Speaker 1: Republican House in a Republican Senate, and we can start

559
00:34:13,440 --> 00:34:16,520
Speaker 1: going out to things like this outrageous position by the

560
00:34:16,560 --> 00:34:20,120
Speaker 1: Attorney General that the FBI is going to monitor parents

561
00:34:20,200 --> 00:34:23,600
Speaker 1: who go to school board meetings. I mean, you know,

562
00:34:23,600 --> 00:34:27,480
Speaker 1: we can't monitor terrorists, we can't monitor Chinese, we can't

563
00:34:27,480 --> 00:34:30,920
Speaker 1: monitor the Russians. But boy, if you're a parent complaining

564
00:34:30,960 --> 00:34:34,239
Speaker 1: because your schools teaching your show something which is crazy,

565
00:34:34,640 --> 00:34:37,880
Speaker 1: you're dangerous. I think you'll find a Republican House and

566
00:34:37,920 --> 00:34:42,040
Speaker 1: Republican Senate will spend a fair amount of time discovering

567
00:34:42,080 --> 00:34:44,960
Speaker 1: just how crazy these people are and beginning to reverse

568
00:34:45,000 --> 00:34:48,720
Speaker 1: the craziness. I'm very much in favor of the general

569
00:34:48,800 --> 00:34:58,800
Speaker 1: strategy that McConnell and McCarthy have undertaken. Thank you for listening.

570
00:34:59,280 --> 00:35:01,080
Speaker 1: You can read more are about what is happening on

571
00:35:01,160 --> 00:35:05,000
Speaker 1: Capitol held this week on our showpage at Newtsworld dot com.

572
00:35:05,200 --> 00:35:09,920
Speaker 1: Newtsworld is produced by gingwistreet sixty and iHeartMedia. Our executive

573
00:35:09,960 --> 00:35:13,680
Speaker 1: producer is Debbie Myers, our producer is Guardsi Sloan, and

574
00:35:13,840 --> 00:35:17,640
Speaker 1: our researcher is Rachel Peterson. The artwork for the show

575
00:35:18,120 --> 00:35:21,560
Speaker 1: was created by Steve Penley. Special thanks to the team

576
00:35:21,600 --> 00:35:25,120
Speaker 1: at gingwid street sixty. If you've been enjoying Newtsworld, I

577
00:35:25,160 --> 00:35:28,040
Speaker 1: hope you'll go to Apple Podcast and both rate us

578
00:35:28,040 --> 00:35:30,760
Speaker 1: with five stars and give us a review so others

579
00:35:30,800 --> 00:35:33,759
Speaker 1: can learn what it's all about. Right now, listeners of

580
00:35:33,880 --> 00:35:37,520
Speaker 1: Newtsworld can sign up for my three free weekly columns

581
00:35:37,719 --> 00:35:42,240
Speaker 1: at gingwistreet sixty dot com slash newsletter. I'm newt Gingridge.

582
00:35:42,680 --> 00:35:43,759
Speaker 1: This is Newsworld