1 00:00:09,320 --> 00:00:15,360 Speaker 1: Okay, let's talk about economic collapses. Really it's national collapses, 2 00:00:15,400 --> 00:00:17,680 Speaker 1: but we'll focus kind of on the economic end of 3 00:00:17,720 --> 00:00:20,239 Speaker 1: it for a moment. Because one of the reasons I 4 00:00:20,280 --> 00:00:22,639 Speaker 1: talk about this issue, you should know, I talk about 5 00:00:22,640 --> 00:00:26,000 Speaker 1: this issue a lot. I talk about this issue because 6 00:00:26,079 --> 00:00:29,360 Speaker 1: I love history. I'm a history freak. I can't help it. 7 00:00:29,360 --> 00:00:30,640 Speaker 1: I'm a history freak. I love it. 8 00:00:31,120 --> 00:00:34,959 Speaker 2: And one thing I see consistently over and over and 9 00:00:35,040 --> 00:00:36,240 Speaker 2: over and over. 10 00:00:36,040 --> 00:00:42,279 Speaker 1: Again as you read about these amazing civilizations, powerful civilizations, 11 00:00:43,120 --> 00:00:46,839 Speaker 1: one of the factors and oftentimes the main factor that 12 00:00:46,920 --> 00:00:47,880 Speaker 1: brings them down. 13 00:00:49,200 --> 00:00:51,000 Speaker 2: It's debt. Money. 14 00:00:52,200 --> 00:00:55,360 Speaker 1: It's not a sexy topic to talk about, especially because 15 00:00:55,480 --> 00:00:58,520 Speaker 1: numbers are so nerdy, and now when we discuss our 16 00:00:58,600 --> 00:01:01,120 Speaker 1: national debt and things like that, it's so big. But 17 00:01:01,160 --> 00:01:04,440 Speaker 1: there are two things that consistently end nations and can 18 00:01:04,640 --> 00:01:07,559 Speaker 1: end nations of any size. It doesn't matter how big 19 00:01:07,720 --> 00:01:13,240 Speaker 1: and powerful your country is. Illegal immigration and mass and debt. 20 00:01:13,440 --> 00:01:16,760 Speaker 1: Those two things it can sink your ship. It doesn't 21 00:01:16,800 --> 00:01:18,679 Speaker 1: matter how big your ship is. And again, you know, 22 00:01:18,720 --> 00:01:21,360 Speaker 1: I'm not Johnny come lately. I've been talking about this 23 00:01:21,520 --> 00:01:26,640 Speaker 1: for years. The GOP lined up for the last four years, 24 00:01:27,400 --> 00:01:32,080 Speaker 1: four years and voted yes, and voted yes, and voted yes, 25 00:01:32,160 --> 00:01:37,000 Speaker 1: and voted yes on multiple massive spending bills. 26 00:01:37,080 --> 00:01:38,280 Speaker 2: Truth is, no one cares. 27 00:01:39,280 --> 00:01:41,640 Speaker 1: Then no one's gonna care until the whole house of 28 00:01:41,720 --> 00:01:44,959 Speaker 1: cards come crashing down and everyone's gonna look around and 29 00:01:44,959 --> 00:01:48,600 Speaker 1: they're gonna say, well, how this happened, How this happened. Well, 30 00:01:48,640 --> 00:01:51,240 Speaker 1: here's the hard truth of it. Talk about making you uncomfortable, 31 00:01:51,320 --> 00:01:53,840 Speaker 1: here's the heart truth of it. When that happens, you 32 00:01:53,920 --> 00:01:55,560 Speaker 1: and I will both have to go look in the 33 00:01:55,560 --> 00:02:02,360 Speaker 1: mirror and say, that's on me. I never demanded better, 34 00:02:02,920 --> 00:02:06,800 Speaker 1: so I never got better. You get what you get. 35 00:02:07,160 --> 00:02:12,480 Speaker 1: Don't throw a fit. Now, let's discuss that aspect of it. 36 00:02:12,480 --> 00:02:14,120 Speaker 1: I can't believe how much hair I. 37 00:02:14,160 --> 00:02:14,600 Speaker 2: Used to have. 38 00:02:14,639 --> 00:02:16,440 Speaker 1: We're gonna have to, Matt, don't play any more of 39 00:02:16,440 --> 00:02:21,519 Speaker 1: those older eclips. That's my producer, Matt. Anyway, Why is 40 00:02:21,560 --> 00:02:24,639 Speaker 1: it on us? Well, here's the truth. When I talk 41 00:02:24,760 --> 00:02:30,080 Speaker 1: to senators and congressmen in Washington, DC about spending, they will, 42 00:02:30,120 --> 00:02:32,519 Speaker 1: oftentimes almost every time, so they only talk to the 43 00:02:32,560 --> 00:02:35,080 Speaker 1: ones I like, they will agree with me. You can't 44 00:02:35,160 --> 00:02:38,040 Speaker 1: spend like this, you can't run deficits like this, you 45 00:02:38,080 --> 00:02:39,120 Speaker 1: can't do it, it'll. 46 00:02:39,040 --> 00:02:40,320 Speaker 2: End the country. It or end the country. 47 00:02:40,520 --> 00:02:42,560 Speaker 1: Everything I just said to you, everything we've talked about. 48 00:02:42,560 --> 00:02:44,840 Speaker 1: You and I they agree. It's not like I could 49 00:02:44,880 --> 00:02:47,000 Speaker 1: sit down with these people and they say, no, Jesse, 50 00:02:47,200 --> 00:02:50,000 Speaker 1: that's fine, No, it's no big deal. They know, they 51 00:02:50,000 --> 00:02:52,040 Speaker 1: know the history, they know the history of the world. 52 00:02:52,400 --> 00:02:55,320 Speaker 1: They understand how this works. And so that's the moment 53 00:02:55,360 --> 00:02:58,040 Speaker 1: where I say, well, Okay, why don't you do something 54 00:02:58,080 --> 00:03:01,519 Speaker 1: about it? I just said it's you agree it's a problem. 55 00:03:01,680 --> 00:03:04,720 Speaker 1: Why aren't you doing something about it? And they say, Jesse, 56 00:03:04,760 --> 00:03:11,920 Speaker 1: the voters don't care. The American people don't care. So 57 00:03:12,040 --> 00:03:17,000 Speaker 1: there's no incentive for anyone Democrat, Republican or not to 58 00:03:17,240 --> 00:03:23,160 Speaker 1: actually cut spend it. And why don't the voters care. Well, 59 00:03:23,680 --> 00:03:28,120 Speaker 1: here's the truth. The American people, because of our communist 60 00:03:28,200 --> 00:03:33,320 Speaker 1: education system, have been so dumbed down to basic civics 61 00:03:33,320 --> 00:03:37,760 Speaker 1: in economics and how things work that they don't make 62 00:03:37,920 --> 00:03:42,800 Speaker 1: the connection between the slow, steady degradation of their way 63 00:03:42,800 --> 00:03:46,240 Speaker 1: of living and the spending in Washington, d C. 64 00:03:46,720 --> 00:03:48,160 Speaker 2: I know you already make that connection. 65 00:03:48,240 --> 00:03:50,760 Speaker 1: So I'm preaching at the choir here, but for the 66 00:03:50,800 --> 00:03:54,040 Speaker 1: average American, and I'm not talking about just the every 67 00:03:54,120 --> 00:03:59,200 Speaker 1: day more on lib Your neighbor, your friend shares your values, 68 00:03:59,240 --> 00:04:00,400 Speaker 1: you watch football together. 69 00:04:00,640 --> 00:04:04,560 Speaker 2: He loves his family. When he sees Washington, d c. 70 00:04:05,240 --> 00:04:10,000 Speaker 1: Republicans and Democrats join together to pass another trillion dollar bill, 71 00:04:10,680 --> 00:04:14,760 Speaker 1: he doesn't make the connection between that and the fact 72 00:04:14,880 --> 00:04:17,040 Speaker 1: Americans now can't afford groceries. 73 00:04:18,680 --> 00:04:21,880 Speaker 3: We need someone in our presidency who can make this 74 00:04:22,000 --> 00:04:26,320 Speaker 3: America work for the working man. It's really looking critical 75 00:04:26,400 --> 00:04:27,880 Speaker 3: right now where I don't even know if my grandchildren 76 00:04:27,880 --> 00:04:29,320 Speaker 3: are going to have a future with this country. 77 00:04:30,200 --> 00:04:33,640 Speaker 1: Some of these big breakfasts of omelets and pancakes can 78 00:04:33,680 --> 00:04:35,080 Speaker 1: cost less than ten bucks. 79 00:04:36,600 --> 00:04:40,120 Speaker 2: And that's what brings in Devada Allison, who's worried about inflation. 80 00:04:40,600 --> 00:04:42,960 Speaker 4: Groceries that used to cost me two hundred dollars a 81 00:04:42,960 --> 00:04:45,119 Speaker 4: couple of years ago, for four or five years ago. 82 00:04:45,560 --> 00:04:47,200 Speaker 4: I mean, I'm spending five hundred dollars at. 83 00:04:47,160 --> 00:04:48,160 Speaker 2: The grocery store right now. 84 00:04:48,400 --> 00:04:51,840 Speaker 4: That's gonna be my biggest deciding factors. Give me your answers, 85 00:04:51,440 --> 00:04:53,800 Speaker 4: what are your solutions? Because I don't want promises and 86 00:04:53,839 --> 00:04:54,640 Speaker 4: broken promises. 87 00:04:56,760 --> 00:05:02,159 Speaker 1: Right I'm heart goes out to those gentlemen. Do you 88 00:05:02,200 --> 00:05:05,200 Speaker 1: want to hear the solution. Are you ready for this? 89 00:05:05,640 --> 00:05:08,000 Speaker 1: It's gonna be a long special, but there's gonna be 90 00:05:08,080 --> 00:05:10,280 Speaker 1: some hard truths in this special. Or are you ready 91 00:05:10,320 --> 00:05:13,520 Speaker 1: for the solution? Because everyone right now talking about inflation. 92 00:05:13,720 --> 00:05:16,320 Speaker 1: Obviously people are suffering. You just heard it can't make 93 00:05:16,440 --> 00:05:17,920 Speaker 1: ends me and I'm worried about my kids and worried 94 00:05:17,920 --> 00:05:18,880 Speaker 1: about my grandkids. 95 00:05:19,920 --> 00:05:25,120 Speaker 2: I want to hear your solution. We have to cut everything. 96 00:05:27,040 --> 00:05:30,200 Speaker 1: Everything, Well, Jesse, we can't cut a fill. 97 00:05:29,960 --> 00:05:31,160 Speaker 2: In the blank whatever. I know. 98 00:05:31,520 --> 00:05:35,360 Speaker 1: That's instinctively where people go, they'll pick their thing. 99 00:05:35,240 --> 00:05:36,599 Speaker 2: The federal government does. 100 00:05:36,880 --> 00:05:39,240 Speaker 1: Maybe it's the thing they love or the thing they're 101 00:05:39,279 --> 00:05:41,640 Speaker 1: dependent on, it doesn't matter where it is. But the 102 00:05:41,839 --> 00:05:45,760 Speaker 1: entire bloated federal budget, they'll find their thing and they'll 103 00:05:45,760 --> 00:05:47,680 Speaker 1: grab a hold of it. When you talk about cutting spending, 104 00:05:47,720 --> 00:05:51,720 Speaker 1: and they'll say, yeah, cut everything, just not this. I 105 00:05:51,720 --> 00:05:53,599 Speaker 1: don't know what thing you just grabbed a hold of 106 00:05:53,640 --> 00:05:55,000 Speaker 1: and tried to cover up when. 107 00:05:54,839 --> 00:05:56,320 Speaker 2: I said that, But it has to be cut. 108 00:05:56,320 --> 00:06:01,720 Speaker 1: Two, because right now we are thirty five million dollars 109 00:06:01,760 --> 00:06:02,279 Speaker 1: in debt. 110 00:06:02,520 --> 00:06:04,200 Speaker 2: Are debt to GDP ratio. 111 00:06:04,240 --> 00:06:06,480 Speaker 1: They say it's one hundred percent, it's one hundred and 112 00:06:06,520 --> 00:06:11,000 Speaker 1: twenty it's plus that we are spending as if we 113 00:06:11,120 --> 00:06:15,920 Speaker 1: are in a world war and yet we are in peacetime. 114 00:06:16,240 --> 00:06:20,560 Speaker 1: That will bring about inflation and economic collapse. The only 115 00:06:20,640 --> 00:06:24,600 Speaker 1: way to stop out of control inflation is Washington d C. 116 00:06:25,279 --> 00:06:29,000 Speaker 1: Stopping the amount of spending they do. Now, go look 117 00:06:29,040 --> 00:06:33,680 Speaker 1: at the federal budget, every single slice of it, even 118 00:06:33,720 --> 00:06:37,800 Speaker 1: the ones you love. It has to be cut. And 119 00:06:37,880 --> 00:06:39,960 Speaker 1: I don't love that either. Look, there are things that 120 00:06:40,040 --> 00:06:45,919 Speaker 1: I love me. I love the military. I'm a dude. 121 00:06:45,960 --> 00:06:48,840 Speaker 1: I can't help it. Since I was a kid, I 122 00:06:49,400 --> 00:06:51,200 Speaker 1: wanted the Lego Set. I never got one of those, 123 00:06:51,240 --> 00:06:52,800 Speaker 1: but I wanted that big You ever see that big 124 00:06:52,920 --> 00:06:54,559 Speaker 1: aircraft carrier Lego Set. 125 00:06:55,240 --> 00:06:55,840 Speaker 2: I wanted it. 126 00:06:55,920 --> 00:06:58,320 Speaker 1: I'd play with g I Joe's fighter jets and stuff. 127 00:06:58,360 --> 00:07:00,000 Speaker 1: It's part of the reason I joined the Marine Corps. 128 00:07:00,200 --> 00:07:02,280 Speaker 1: I want to see guns and bombs and planes in 129 00:07:02,960 --> 00:07:06,880 Speaker 1: I love the military, and I know as a country 130 00:07:07,400 --> 00:07:10,680 Speaker 1: it's really important for us to have things like a 131 00:07:10,760 --> 00:07:13,200 Speaker 1: strong navy. As much as that pains me to say, 132 00:07:13,800 --> 00:07:16,480 Speaker 1: we have two huge oceans. We need a big, powerful, 133 00:07:16,560 --> 00:07:18,040 Speaker 1: technologically advanced navy. 134 00:07:18,040 --> 00:07:19,720 Speaker 2: We don't have the money. 135 00:07:19,800 --> 00:07:25,200 Speaker 1: I'm sorry, military too got to be cut, and the 136 00:07:25,280 --> 00:07:28,360 Speaker 1: people who are angry about inflation, which is pretty much 137 00:07:28,400 --> 00:07:32,600 Speaker 1: all of us at this point in time. What percentage 138 00:07:32,600 --> 00:07:36,200 Speaker 1: of those people understand that that's the only solution, the 139 00:07:36,240 --> 00:07:39,880 Speaker 1: only solution. Sure, you can grow the economy and that 140 00:07:39,960 --> 00:07:43,600 Speaker 1: will help, but you can't grow your way out of 141 00:07:43,680 --> 00:07:47,800 Speaker 1: thirty five trillion dollars in debt. You can't grow your 142 00:07:47,880 --> 00:07:50,360 Speaker 1: way out of two trillion dollar. 143 00:07:50,280 --> 00:07:52,240 Speaker 2: Deficits every year. You can't. 144 00:07:52,680 --> 00:07:56,800 Speaker 1: And that growth only comes with Trump, if God forbid, 145 00:07:57,480 --> 00:08:00,880 Speaker 1: Kamala Harris wins the election. Do you have any idea 146 00:08:00,920 --> 00:08:02,160 Speaker 1: what things like this will. 147 00:08:01,960 --> 00:08:05,360 Speaker 5: Do and how do you find that line to make 148 00:08:05,360 --> 00:08:08,280 Speaker 5: sure corporations are paying their fair share but they're not 149 00:08:08,400 --> 00:08:11,520 Speaker 5: leaving our country. Well, listen, I work with a lot 150 00:08:11,600 --> 00:08:14,080 Speaker 5: of CEOs. I have spent a lot of time with CEOs, 151 00:08:14,080 --> 00:08:16,800 Speaker 5: and I'm going to tell you that the business leaders 152 00:08:16,800 --> 00:08:20,280 Speaker 5: who are actually part of the engine of America's economy 153 00:08:21,560 --> 00:08:24,000 Speaker 5: agree that people should pay their fair share. 154 00:08:24,160 --> 00:08:25,800 Speaker 2: They also agree that. 155 00:08:26,000 --> 00:08:28,480 Speaker 5: When we look at a plan such as mine that 156 00:08:28,600 --> 00:08:32,480 Speaker 5: is about investing in the middle class, investing in new industries, 157 00:08:32,880 --> 00:08:38,079 Speaker 5: investing in bringing down costs, invest in entrepreneurs like small businesses, 158 00:08:38,280 --> 00:08:42,040 Speaker 5: that the overall economy is stronger and everyone benefits. 159 00:08:45,520 --> 00:08:49,040 Speaker 1: Whatever economic disaster is coming our way, and there is 160 00:08:49,120 --> 00:08:51,840 Speaker 1: one coming, it can't be stopped. People will get here 161 00:08:51,920 --> 00:08:54,439 Speaker 1: much sooner and be so much more severe if that 162 00:08:54,600 --> 00:08:58,200 Speaker 1: woman gets into office. But let's not focus only on 163 00:08:58,280 --> 00:09:01,360 Speaker 1: Democrats here. I don't do that, will do that. The 164 00:09:01,480 --> 00:09:05,439 Speaker 1: truth is, Republicans spend too much money. Every single one 165 00:09:05,440 --> 00:09:08,160 Speaker 1: of them does well at least all the presidents have 166 00:09:08,360 --> 00:09:10,800 Speaker 1: in almost all the ones in the Senate and the House, 167 00:09:11,280 --> 00:09:14,760 Speaker 1: even ones we love, even sacred ones to Republicans. Ronald 168 00:09:14,760 --> 00:09:18,200 Speaker 1: Reagan spent too much money. Bill Clinton spent too much money. 169 00:09:18,240 --> 00:09:21,160 Speaker 1: Barack Obama spent too much money. George Bush one spent 170 00:09:21,200 --> 00:09:23,680 Speaker 1: too much money. George Bush two spent too much money. 171 00:09:23,760 --> 00:09:26,280 Speaker 1: Trump himself spent more money than any other president in 172 00:09:26,320 --> 00:09:29,240 Speaker 1: the history of mankind in his four years. 173 00:09:29,520 --> 00:09:30,840 Speaker 2: We cannot continue this. 174 00:09:30,960 --> 00:09:34,200 Speaker 1: Mitch McConnell, the most powerful Republican in DC, brags about 175 00:09:34,240 --> 00:09:35,439 Speaker 1: all the money of yours he's spent. 176 00:09:37,920 --> 00:09:42,960 Speaker 6: So Admittedly, I'm pretty proud of the fact that whether 177 00:09:43,000 --> 00:09:47,800 Speaker 6: democratic president, Democratic House, and Democratic Senate, we were able 178 00:09:48,320 --> 00:09:54,400 Speaker 6: to achieve through this omnious spending bill, essentially all of 179 00:09:54,480 --> 00:09:55,640 Speaker 6: our priorities. 180 00:10:00,440 --> 00:10:03,800 Speaker 1: Doesn't that kind of sum it up, we were able 181 00:10:03,880 --> 00:10:06,760 Speaker 1: to achieve all of our priorities. 182 00:10:07,280 --> 00:10:11,400 Speaker 2: Well, that begs the question. It's a trillion dollar spending bill. 183 00:10:11,440 --> 00:10:14,120 Speaker 1: That was Mitch McConnell after he passed a trillion dollar 184 00:10:14,200 --> 00:10:17,480 Speaker 1: omnibus bill in a lame duck Congress. It's a trillion 185 00:10:17,520 --> 00:10:23,040 Speaker 1: dollar spending bill accomplished all of your objectives. But what 186 00:10:23,120 --> 00:10:26,760 Speaker 1: are your objectives then? Because my objective is to preserve 187 00:10:26,840 --> 00:10:29,560 Speaker 1: the way of life that I've known for my children 188 00:10:30,080 --> 00:10:32,600 Speaker 1: and their children after them, and their children after them. 189 00:10:32,679 --> 00:10:36,800 Speaker 1: That's my objective. And that's why I know spending must 190 00:10:36,800 --> 00:10:39,680 Speaker 1: be cut. If you just spend a trillion dollars, we 191 00:10:39,720 --> 00:10:43,000 Speaker 1: don't have of government goodies and handouts to this person, 192 00:10:43,080 --> 00:10:46,720 Speaker 1: that person, this entity, this country, this Well, that says 193 00:10:46,760 --> 00:10:49,320 Speaker 1: all you need to know about your objective. We have 194 00:10:49,400 --> 00:10:51,120 Speaker 1: to get the GOP in line, too. But to get 195 00:10:51,120 --> 00:10:55,880 Speaker 1: the GOP in line, back to what we said, you 196 00:10:55,960 --> 00:10:58,719 Speaker 1: have to get the American people in line. You have 197 00:10:58,760 --> 00:11:03,280 Speaker 1: to connect those dots for them. Every single time Washington 198 00:11:03,360 --> 00:11:06,240 Speaker 1: d c. Passes a bill to spend your money, your 199 00:11:06,280 --> 00:11:09,560 Speaker 1: groceries get more expensive every single time. 200 00:11:10,120 --> 00:11:12,800 Speaker 2: We have to hammer that point home over and over 201 00:11:12,880 --> 00:11:13,760 Speaker 2: and over. Again. 202 00:11:14,280 --> 00:11:16,640 Speaker 1: And I talked earlier about the cuts that are coming, 203 00:11:16,679 --> 00:11:19,880 Speaker 1: the cuts that are necessary. Don't think that's just me rabbit, 204 00:11:19,920 --> 00:11:21,920 Speaker 1: anti communist barbarian Jesse. 205 00:11:22,200 --> 00:11:24,480 Speaker 2: We had Senator Ran Paul on this show. He laid 206 00:11:24,520 --> 00:11:26,440 Speaker 2: it out for you as clear as day. You think 207 00:11:26,480 --> 00:11:28,640 Speaker 2: you know more than rand. 208 00:11:29,080 --> 00:11:32,079 Speaker 7: And it's not that I want to have reforms. It's 209 00:11:32,120 --> 00:11:34,520 Speaker 7: that if we don't have the reforms, there will be 210 00:11:34,559 --> 00:11:36,559 Speaker 7: no Social Security for the next generation, and there will 211 00:11:36,600 --> 00:11:39,160 Speaker 7: be no Medicare, and it's going to happen pretty quickly 212 00:11:39,520 --> 00:11:41,679 Speaker 7: within the next couple of years. The people who live 213 00:11:41,760 --> 00:11:45,400 Speaker 7: on the basic smallest amount of Social Security, which I 214 00:11:45,400 --> 00:11:48,160 Speaker 7: believe is around seven hundred dollars a month, those people 215 00:11:48,160 --> 00:11:50,480 Speaker 7: will get a twenty percent cut in their Social Security 216 00:11:50,559 --> 00:11:51,560 Speaker 7: unless we reform it. 217 00:11:52,040 --> 00:11:56,760 Speaker 2: So you have to reform it, Jesse. 218 00:11:56,840 --> 00:11:59,079 Speaker 1: I don't want to cut You can't cut mite, whatever 219 00:11:59,559 --> 00:12:02,960 Speaker 1: it may be. You don't understand. I don't want to 220 00:12:02,960 --> 00:12:05,960 Speaker 1: take anything away from you. I'm trying to save the 221 00:12:06,120 --> 00:12:11,520 Speaker 1: United States of America. Massive reforms are necessary. We protect 222 00:12:11,520 --> 00:12:13,600 Speaker 1: the people. We have to protect the ones who are 223 00:12:13,640 --> 00:12:16,520 Speaker 1: trying to keep the lights on, keep food on the table. 224 00:12:17,240 --> 00:12:21,360 Speaker 1: But while doing that, it is time to carve through 225 00:12:21,520 --> 00:12:25,040 Speaker 1: the federal budget like it's Thanksgiving and there's a turkey 226 00:12:25,080 --> 00:12:27,440 Speaker 1: in front of you, and you have that electric cutting knife, 227 00:12:27,440 --> 00:12:29,800 Speaker 1: which is really cool. By the way, it's the only 228 00:12:29,880 --> 00:12:33,120 Speaker 1: way to save this country. It's the only way to 229 00:12:33,240 --> 00:12:37,400 Speaker 1: save our way of life. Your life is more expensive 230 00:12:37,440 --> 00:12:42,040 Speaker 1: because of Washington spending. Your life is more expensive because 231 00:12:42,040 --> 00:12:46,320 Speaker 1: of Washington spending. Repeat those words over and over and 232 00:12:46,360 --> 00:12:49,560 Speaker 1: over and over again to every single person you know. 233 00:12:49,880 --> 00:12:54,560 Speaker 1: When you're a Democrat, republican independent, friend compare or complains 234 00:12:54,600 --> 00:12:58,520 Speaker 1: about the price of anything in his life, repeat those 235 00:12:58,600 --> 00:13:02,040 Speaker 1: words to him or her until they finally understand. 236 00:13:02,440 --> 00:13:04,760 Speaker 2: And then maybe, just maybe. 237 00:13:04,400 --> 00:13:06,760 Speaker 1: We will begin electing people who will make the tough 238 00:13:06,840 --> 00:13:10,719 Speaker 1: choices to begin cutting all that may have made you uncomfortable, 239 00:13:10,720 --> 00:13:13,199 Speaker 1: but I am right, Carol Roth is going to talk 240 00:13:13,240 --> 00:13:32,559 Speaker 1: about our debt to GDP and so much else extent. Well, 241 00:13:32,559 --> 00:13:35,719 Speaker 1: with all this sunny economic news, it's probably a good 242 00:13:35,760 --> 00:13:37,760 Speaker 1: time to bring up the fact that our debt to 243 00:13:37,840 --> 00:13:42,920 Speaker 1: GDP is now one hundred percent. In case you're wondering 244 00:13:42,960 --> 00:13:45,560 Speaker 1: when the last time that happened was, it was World 245 00:13:45,559 --> 00:13:48,480 Speaker 1: War Two. So as I have explained to you many 246 00:13:48,520 --> 00:13:51,480 Speaker 1: many times, and as Carol has as well. We are 247 00:13:51,520 --> 00:13:58,000 Speaker 1: a nation currently in peacetime without some major national disaster, 248 00:13:58,320 --> 00:14:02,120 Speaker 1: without any of these things, and we are spending as 249 00:14:02,200 --> 00:14:06,880 Speaker 1: if we're a country fighting in apocalyptic world war. 250 00:14:07,400 --> 00:14:10,600 Speaker 2: What does that mean? Well, it means this can't go on. 251 00:14:11,240 --> 00:14:14,120 Speaker 1: As that saying goes, that which cannot go on will 252 00:14:14,160 --> 00:14:14,600 Speaker 1: not go on. 253 00:14:14,640 --> 00:14:15,440 Speaker 2: This will not go on. 254 00:14:15,559 --> 00:14:19,560 Speaker 1: Joining me now, author of the book, you will own nothing. 255 00:14:19,240 --> 00:14:21,480 Speaker 2: Which is sadly apropos for where we are. 256 00:14:21,880 --> 00:14:25,440 Speaker 1: Carol Roth, Carol, okay, you say debt to GDP. 257 00:14:25,160 --> 00:14:26,080 Speaker 2: Is one hundred percent. 258 00:14:27,080 --> 00:14:29,920 Speaker 1: That doesn't really register though it sounds like a bunch 259 00:14:29,920 --> 00:14:31,520 Speaker 1: of eco nerd talk. 260 00:14:31,600 --> 00:14:32,240 Speaker 2: What does that mean? 261 00:14:33,240 --> 00:14:35,600 Speaker 8: I actually say debt to GDP is north of one 262 00:14:35,680 --> 00:14:36,760 Speaker 8: hundred and twenty percent. 263 00:14:37,600 --> 00:14:39,480 Speaker 9: They where are we getting that number from? 264 00:14:39,720 --> 00:14:43,560 Speaker 8: May actually be backing out some of the intergovernmental spending, 265 00:14:43,720 --> 00:14:46,200 Speaker 8: but we still owe it in one way, shape or form, 266 00:14:46,280 --> 00:14:49,240 Speaker 8: so I'm not going to back it out. Basically, if 267 00:14:49,240 --> 00:14:52,560 Speaker 8: you think about the amount of debt to the entire 268 00:14:52,600 --> 00:14:56,640 Speaker 8: output of the country, the benchmark that whether it's the 269 00:14:56,760 --> 00:15:00,000 Speaker 8: Treasury or the IMF where they say that that becomes 270 00:15:00,280 --> 00:15:06,320 Speaker 8: unwield is around sixty maybe seventy percent. Debt to GDP, 271 00:15:06,840 --> 00:15:11,080 Speaker 8: so we are functionally two times as high as we 272 00:15:11,160 --> 00:15:14,640 Speaker 8: should be, and normally, in a country that had debt 273 00:15:14,680 --> 00:15:17,920 Speaker 8: to GDP at this level, you probably see some sort 274 00:15:17,960 --> 00:15:21,760 Speaker 8: of sovereign wealth crisis and you know, some massive implosion 275 00:15:22,200 --> 00:15:25,000 Speaker 8: because we have the world's reserve currency and the world's 276 00:15:25,040 --> 00:15:25,960 Speaker 8: trading currency. 277 00:15:26,000 --> 00:15:27,360 Speaker 9: That hasn't happened yet. 278 00:15:27,760 --> 00:15:30,280 Speaker 8: But people like to take the fact that it hasn't 279 00:15:30,400 --> 00:15:33,000 Speaker 8: happened and then say that, well, that sort of proof 280 00:15:33,040 --> 00:15:37,120 Speaker 8: that it will never happen, And that just isn't the case. Everybody, 281 00:15:37,200 --> 00:15:42,520 Speaker 8: the IMF, the CBO, the Treasury, the FED, Jamie Diamond, billionaires, 282 00:15:42,560 --> 00:15:46,680 Speaker 8: everybody said this is an unsustainable fiscal path. But what 283 00:15:46,800 --> 00:15:49,040 Speaker 8: they don't like to say, Jesse, is Okay, it's an 284 00:15:49,120 --> 00:15:50,840 Speaker 8: unsustainable fiscal path. 285 00:15:51,280 --> 00:15:53,200 Speaker 9: What are we going to do to fix it? 286 00:15:53,720 --> 00:15:56,360 Speaker 8: And if we have the ability to fix it, do 287 00:15:56,480 --> 00:15:59,000 Speaker 8: we really have the political will. 288 00:15:58,800 --> 00:15:59,440 Speaker 9: To fix it? 289 00:15:59,520 --> 00:16:02,480 Speaker 8: And I think that is the discussion point that needs 290 00:16:02,520 --> 00:16:05,760 Speaker 8: to be had. Do we really believe if we're able 291 00:16:05,800 --> 00:16:09,760 Speaker 8: to thread this very delicate needle in terms of growing 292 00:16:09,800 --> 00:16:14,560 Speaker 8: the economy, reducing some of the government spending, and trying 293 00:16:14,600 --> 00:16:17,560 Speaker 8: to do that in a way that doesn't cause inflation 294 00:16:17,760 --> 00:16:22,400 Speaker 8: or doesn't have any other side implications. Does anybody have 295 00:16:22,480 --> 00:16:26,880 Speaker 8: the political will or the competence to get that done? 296 00:16:27,200 --> 00:16:30,200 Speaker 1: Okay, well no, Obviously if the answer that question is no, 297 00:16:30,280 --> 00:16:32,120 Speaker 1: not to put too fine a point on it. So 298 00:16:32,680 --> 00:16:35,920 Speaker 1: since the answer to that question is no, the Democrats 299 00:16:35,960 --> 00:16:38,560 Speaker 1: want the country to collapse, the Republicans don't have the 300 00:16:38,560 --> 00:16:40,600 Speaker 1: guts to stop it, where are we going? 301 00:16:42,520 --> 00:16:42,640 Speaker 2: So? 302 00:16:42,840 --> 00:16:45,560 Speaker 8: I wish I had the crystal ball that could perfectly 303 00:16:45,880 --> 00:16:49,720 Speaker 8: predict the timing, that could perfectly predict the path. 304 00:16:50,080 --> 00:16:52,480 Speaker 9: All we have are these rhyming benchmarks. 305 00:16:52,480 --> 00:16:55,960 Speaker 8: What has happened in other countries when this has happened previously. 306 00:16:56,920 --> 00:16:59,400 Speaker 8: One of the things that happens anytime there is a 307 00:16:59,440 --> 00:17:02,000 Speaker 8: big financial seed change tends to be. 308 00:17:02,000 --> 00:17:02,920 Speaker 9: A massive war. 309 00:17:03,080 --> 00:17:03,240 Speaker 10: You know. 310 00:17:03,280 --> 00:17:05,800 Speaker 8: That's what happened to England before us and the Dutch 311 00:17:05,840 --> 00:17:09,680 Speaker 8: before the English is that's what encountered the financial seed 312 00:17:09,760 --> 00:17:12,439 Speaker 8: change and was sort of this last ditch effort to 313 00:17:12,520 --> 00:17:15,280 Speaker 8: try to figure out how we're going to have some 314 00:17:15,320 --> 00:17:18,800 Speaker 8: sort of resetting of the financial stakes. And I think 315 00:17:18,880 --> 00:17:22,919 Speaker 8: that is realistically one of the things on the table. 316 00:17:23,359 --> 00:17:26,080 Speaker 8: Another thing that is on the table is something that 317 00:17:26,119 --> 00:17:29,160 Speaker 8: we have been seeing over the last few years, which 318 00:17:29,200 --> 00:17:31,200 Speaker 8: is just rampant inflation. 319 00:17:31,600 --> 00:17:33,600 Speaker 9: Right, We've seen that over and over again. 320 00:17:33,880 --> 00:17:37,800 Speaker 8: And instead of letting the economy go through the recession 321 00:17:38,160 --> 00:17:42,160 Speaker 8: that should have happened from the bad fiscal and monetary policy, 322 00:17:42,480 --> 00:17:44,800 Speaker 8: they said, we can't show that. We can't have that, 323 00:17:45,040 --> 00:17:47,919 Speaker 8: So we're just going to keep spending more. On a 324 00:17:48,080 --> 00:17:51,000 Speaker 8: headline basis, it's going to look like we're doing great. 325 00:17:51,280 --> 00:17:54,359 Speaker 8: We're going to put more money into the economy, and 326 00:17:54,560 --> 00:17:58,400 Speaker 8: basically just to value everybody's purchasing power, because what happens 327 00:17:58,680 --> 00:18:02,840 Speaker 8: when you create inlation is it's better for the debt holders, 328 00:18:02,920 --> 00:18:06,320 Speaker 8: right that the nominal value of all of dollars goes down. 329 00:18:06,640 --> 00:18:07,840 Speaker 9: So if you're holding. 330 00:18:07,600 --> 00:18:11,679 Speaker 8: Debt, the actual value of that is going down on 331 00:18:11,720 --> 00:18:14,639 Speaker 8: a relative basis, but it's not good for the people 332 00:18:14,640 --> 00:18:17,239 Speaker 8: who are trying to earn and try to purchase. So 333 00:18:17,440 --> 00:18:21,880 Speaker 8: I think that is the most likely path. Yes, if 334 00:18:21,920 --> 00:18:23,920 Speaker 8: you have, you know, a certain set of people in 335 00:18:24,000 --> 00:18:26,679 Speaker 8: charge versus other people in charge, maybe you have a 336 00:18:26,720 --> 00:18:30,240 Speaker 8: little bit of an opportunity for more growth. Maybe they're 337 00:18:30,280 --> 00:18:32,960 Speaker 8: going to reign and spending a little bit. But as 338 00:18:33,000 --> 00:18:35,080 Speaker 8: you said, they're not going to have the political will 339 00:18:35,320 --> 00:18:38,119 Speaker 8: to do the difficult things so I think that means 340 00:18:38,680 --> 00:18:42,120 Speaker 8: buckle up. You're going to see a resurgence of more 341 00:18:42,160 --> 00:18:45,119 Speaker 8: and more inflation. It's going to be harder for the 342 00:18:45,160 --> 00:18:47,920 Speaker 8: middle and working class to get ahead. The people who 343 00:18:47,920 --> 00:18:50,439 Speaker 8: are on top, who are holding the assets, you know, 344 00:18:50,480 --> 00:18:54,200 Speaker 8: the elite, the well connected, will appear to do well 345 00:18:54,280 --> 00:18:58,480 Speaker 8: because their stockholdings will increase from a number's basis, and 346 00:18:58,520 --> 00:19:01,679 Speaker 8: their houses will increase from a number basis, and you 347 00:19:01,720 --> 00:19:04,840 Speaker 8: will end up having, you know, more of a chasm 348 00:19:05,520 --> 00:19:08,480 Speaker 8: on a non merit base, for non merit based reasons, 349 00:19:08,760 --> 00:19:11,600 Speaker 8: between the haves and have nots. And I know you're 350 00:19:11,640 --> 00:19:14,119 Speaker 8: a better student of history that I am, Jesse, but 351 00:19:14,359 --> 00:19:17,520 Speaker 8: you know what happens when you have that huge chasm 352 00:19:17,800 --> 00:19:19,639 Speaker 8: between the haves and the have nots, and what that 353 00:19:19,680 --> 00:19:22,959 Speaker 8: means for social unrest. So whether we get the social 354 00:19:23,000 --> 00:19:27,160 Speaker 8: unrest just within the country or that's something that catches 355 00:19:27,200 --> 00:19:31,040 Speaker 8: on globally, I think that's a realistic possibility. I wish 356 00:19:31,080 --> 00:19:34,040 Speaker 8: I could tell you when this could go on for 357 00:19:34,840 --> 00:19:37,320 Speaker 8: ten months, it could go on for five years, it 358 00:19:37,359 --> 00:19:40,600 Speaker 8: could go on for twenty years. I don't have the answer, 359 00:19:40,960 --> 00:19:44,200 Speaker 8: but we can see that trajectory, and all we can 360 00:19:44,240 --> 00:19:46,480 Speaker 8: do is plan which is why I wrote you will 361 00:19:46,480 --> 00:19:49,879 Speaker 8: own nothing and encourage people, if possible, to try to 362 00:19:50,000 --> 00:19:53,359 Speaker 8: own something that will have the opportunity to inflate in 363 00:19:53,520 --> 00:19:58,000 Speaker 8: value while you have your purchasing power continually stolen from you. 364 00:20:00,040 --> 00:20:03,960 Speaker 1: Kroll, I'm glad you brought up the global consequences in 365 00:20:04,000 --> 00:20:07,440 Speaker 1: global nature this because for better and worse, we are 366 00:20:07,520 --> 00:20:11,280 Speaker 1: a global economy now, we have been for quite some time. 367 00:20:11,800 --> 00:20:14,359 Speaker 1: And when you know things, when you look into things 368 00:20:14,440 --> 00:20:17,359 Speaker 1: historically like the Great Depression, you realize this was not 369 00:20:17,440 --> 00:20:22,920 Speaker 1: an American thing. This was a worldwide thing. So who 370 00:20:23,080 --> 00:20:25,600 Speaker 1: leads the world into the next depression? 371 00:20:25,760 --> 00:20:27,040 Speaker 2: Do we lead it? 372 00:20:27,200 --> 00:20:29,440 Speaker 1: Or does the world go into it and drag us 373 00:20:29,440 --> 00:20:29,840 Speaker 1: with them? 374 00:20:30,440 --> 00:20:32,080 Speaker 9: No, one hundred percent. We're the leader. 375 00:20:32,119 --> 00:20:36,840 Speaker 8: We're the world's reserve currency and trading currency. The call, unfortunately, 376 00:20:36,960 --> 00:20:39,240 Speaker 8: is coming, you know, from Washington, d C. 377 00:20:39,400 --> 00:20:42,679 Speaker 9: It's coming from inside the house. As we go, the 378 00:20:42,720 --> 00:20:43,760 Speaker 9: rest of the world goes. 379 00:20:43,800 --> 00:20:46,320 Speaker 8: If things happen in other countries, you know, it may 380 00:20:46,359 --> 00:20:49,520 Speaker 8: have some impact on us, but it's certainly not going 381 00:20:49,560 --> 00:20:53,520 Speaker 8: to have that blowback. But the challenges as we implode, 382 00:20:53,560 --> 00:20:56,679 Speaker 8: everybody else is going to implode. And that's why that 383 00:20:56,800 --> 00:21:01,240 Speaker 8: scariness of you know, potential world war to create sort 384 00:21:01,280 --> 00:21:04,360 Speaker 8: of the backdrop for some you know coming together and 385 00:21:04,560 --> 00:21:07,639 Speaker 8: you know, a new accord, a new financial reset, you know, 386 00:21:07,880 --> 00:21:10,240 Speaker 8: is I hate to say it, but it is a 387 00:21:10,400 --> 00:21:14,080 Speaker 8: very realistic possibility. It's not certainly one that I am 388 00:21:14,160 --> 00:21:17,000 Speaker 8: hoping for or wishing for. But to say that that's 389 00:21:17,040 --> 00:21:19,320 Speaker 8: not something that would be on the table, I think 390 00:21:19,359 --> 00:21:21,639 Speaker 8: it is silly. I think it's also one of the 391 00:21:21,680 --> 00:21:25,240 Speaker 8: reasons why you're seeing as central banks around the world 392 00:21:26,000 --> 00:21:29,720 Speaker 8: get rid of their holdings of US treasuries. They're not 393 00:21:29,960 --> 00:21:33,600 Speaker 8: going into some other currency. They're not saying, oh, well, 394 00:21:33,640 --> 00:21:35,760 Speaker 8: you know, this country is a much much better option, 395 00:21:35,960 --> 00:21:38,080 Speaker 8: or let's you know, let's go with the euro or whatnot. 396 00:21:38,520 --> 00:21:41,720 Speaker 8: They're going to gold, and you know that has been 397 00:21:41,880 --> 00:21:45,479 Speaker 8: part of you know, many financial resets in the past. 398 00:21:45,880 --> 00:21:50,359 Speaker 8: It is a neutral ish reserve currency. You know that 399 00:21:50,720 --> 00:21:54,480 Speaker 8: each of these countries are now stockpiling in different amounts, 400 00:21:54,760 --> 00:21:57,840 Speaker 8: and we're seeing more and more of these countries add 401 00:21:57,880 --> 00:22:01,000 Speaker 8: that to their reserves. So you know, that's something you 402 00:22:01,080 --> 00:22:03,680 Speaker 8: need to keep an eye on. And what are they 403 00:22:03,760 --> 00:22:06,600 Speaker 8: telling us, what are they signaling, what are they worried about? 404 00:22:07,080 --> 00:22:10,480 Speaker 8: And it's not just lessening the dependence on the United 405 00:22:10,560 --> 00:22:13,760 Speaker 8: States dollar because they don't like the United States and 406 00:22:13,760 --> 00:22:16,480 Speaker 8: they're trying to stick it to us. They're really worried 407 00:22:16,720 --> 00:22:18,919 Speaker 8: that if something happens, they want to be able to 408 00:22:19,000 --> 00:22:22,680 Speaker 8: have something, something that's tangible that they can use when 409 00:22:22,680 --> 00:22:25,600 Speaker 8: everybody goes and you know, tries to divvy up the stakes, 410 00:22:25,720 --> 00:22:28,240 Speaker 8: you know, in a new financial world order, you know, 411 00:22:28,280 --> 00:22:30,439 Speaker 8: who gets what? At least they say, well, we have 412 00:22:30,600 --> 00:22:33,080 Speaker 8: this pot pot of gold, and you have this, so. 413 00:22:33,080 --> 00:22:35,560 Speaker 9: We all have this. Maybe we can figure out something. 414 00:22:35,320 --> 00:22:35,600 Speaker 11: With that. 415 00:22:37,840 --> 00:22:41,800 Speaker 1: Art assets. How about that? Kill Roth. Everybody appreciate you, Carol. 416 00:22:43,240 --> 00:22:46,960 Speaker 1: All right, Tiana low Dresser is going to join us next. 417 00:23:01,960 --> 00:23:04,200 Speaker 1: See what is your kind of your economic plan moving 418 00:23:04,240 --> 00:23:07,520 Speaker 1: forward for people who are living paycheck to paycheck and 419 00:23:07,800 --> 00:23:11,440 Speaker 1: struggling for groceries and rent and homeowners. 420 00:23:11,760 --> 00:23:15,479 Speaker 5: So look, I grew up, so my sister and I 421 00:23:15,520 --> 00:23:17,680 Speaker 5: were raised by our mother. We lived for a long 422 00:23:17,760 --> 00:23:22,600 Speaker 5: time in an apartment on top of a childcare center. 423 00:23:22,960 --> 00:23:26,600 Speaker 5: I from a child, knew who our small business owners are, right. 424 00:23:26,720 --> 00:23:29,760 Speaker 5: I mean, you're business leaders, but you're also civic leaders. 425 00:23:29,880 --> 00:23:33,240 Speaker 5: You take seriously your voice and how you can mentor 426 00:23:33,720 --> 00:23:37,960 Speaker 5: how you can grow, right, communities and the sense of communities. 427 00:23:38,680 --> 00:23:40,960 Speaker 5: I love our small businesses. So a lot of my work, 428 00:23:40,960 --> 00:23:43,280 Speaker 5: even in the Senate, was about increasing access to capital 429 00:23:43,400 --> 00:23:46,639 Speaker 5: through our small businesses, and in particular through our community banks. 430 00:23:47,200 --> 00:23:50,800 Speaker 5: So I've been responsible for billions of dollars more now 431 00:23:50,840 --> 00:23:54,280 Speaker 5: going into our community banks because they're in the community, 432 00:23:54,320 --> 00:23:56,640 Speaker 5: and then they know who's in the community, and where 433 00:23:56,680 --> 00:23:58,760 Speaker 5: the town is, and who's doing good in the community, 434 00:23:58,760 --> 00:23:59,760 Speaker 5: what the community wants. 435 00:24:04,760 --> 00:24:05,919 Speaker 2: I'm just so confused. 436 00:24:06,640 --> 00:24:10,040 Speaker 1: Joining me now, my friend Sian lodsher columnists with the 437 00:24:10,200 --> 00:24:14,119 Speaker 1: Washington Examiner to make us smarter economically. All right, Tiana, 438 00:24:14,200 --> 00:24:17,000 Speaker 1: as you know, I'm stupid and uneducated, So could you 439 00:24:17,080 --> 00:24:19,800 Speaker 1: please explain to me what she just said there. 440 00:24:21,520 --> 00:24:23,360 Speaker 12: I don't think she knows what she just said there. 441 00:24:23,359 --> 00:24:27,200 Speaker 12: It's emotional support economics. Look, when she thinks about people 442 00:24:27,240 --> 00:24:30,960 Speaker 12: complaining about grocery prices, she's been visioning the Brentwood Country 443 00:24:31,000 --> 00:24:35,360 Speaker 12: farmers market. You know, people with their designer groceries getting organic, 444 00:24:35,440 --> 00:24:38,359 Speaker 12: this farmed a table bat. That's not the reality for 445 00:24:38,440 --> 00:24:42,200 Speaker 12: the average American. The average American is getting their groceries 446 00:24:42,359 --> 00:24:44,760 Speaker 12: from a grocery store that is a big block chain 447 00:24:45,080 --> 00:24:47,919 Speaker 12: that has about a one to two percent profit margin, 448 00:24:48,040 --> 00:24:51,400 Speaker 12: smaller than almost any other industry right, and food prices 449 00:24:51,560 --> 00:24:55,439 Speaker 12: have moved on par with overall prices about twenty percent 450 00:24:55,560 --> 00:24:59,359 Speaker 12: since since Joe Biden Kamala Harris took office. It's everything 451 00:24:59,359 --> 00:25:03,680 Speaker 12: else that's gotten even more expensive, service prices housing all 452 00:25:03,720 --> 00:25:06,880 Speaker 12: of that, and she has no answers for that. Casey Mulligan, 453 00:25:07,080 --> 00:25:09,840 Speaker 12: the economists from University of Chicago did a study that 454 00:25:09,920 --> 00:25:14,040 Speaker 12: found the majority of the excess inflation that we've had 455 00:25:14,040 --> 00:25:17,400 Speaker 12: in the past four years was stoked by the two 456 00:25:17,480 --> 00:25:20,440 Speaker 12: tie breaking votes that Harris casts as President of the 457 00:25:20,480 --> 00:25:24,760 Speaker 12: Senate for the two trillion dollar American Rescue Plan and 458 00:25:24,800 --> 00:25:29,000 Speaker 12: then the one point three trillion dollar Inflation Reduction Act, 459 00:25:29,040 --> 00:25:32,080 Speaker 12: which as we know, did nothing of the sort. In 460 00:25:32,200 --> 00:25:35,040 Speaker 12: terms of what she wants to do to fix it, 461 00:25:35,720 --> 00:25:38,120 Speaker 12: she wants to come down on the grocery stores, which again, 462 00:25:38,119 --> 00:25:40,919 Speaker 12: would we've established have got a one to two percent 463 00:25:40,960 --> 00:25:48,800 Speaker 12: profit margin, and en scene, that's it. There is no vote. 464 00:25:51,359 --> 00:25:55,399 Speaker 1: And still I'm flabbergasted by that number. And I know 465 00:25:55,520 --> 00:25:59,359 Speaker 1: that number. I can't believe there's any industry anywhere that 466 00:25:59,440 --> 00:26:02,200 Speaker 1: runs on a one to two percent profit margin. 467 00:26:02,280 --> 00:26:04,560 Speaker 2: That just floors me, it absolutely blows me away. 468 00:26:04,560 --> 00:26:07,440 Speaker 1: But anyway, that's not that's not major on the minor here, 469 00:26:07,440 --> 00:26:10,639 Speaker 1: it's Gianna. I try to not think about this. I 470 00:26:10,800 --> 00:26:13,920 Speaker 1: try to not think about how completely screwed we are 471 00:26:14,080 --> 00:26:17,560 Speaker 1: economically if she wins, because you know me, I think 472 00:26:17,600 --> 00:26:19,719 Speaker 1: we're screwed anyway. I don't think there's anything that can 473 00:26:19,760 --> 00:26:23,080 Speaker 1: stop a thirty five trillion dollar debt train. But gosh, 474 00:26:23,160 --> 00:26:25,399 Speaker 1: are we turbo screwed if that woman wins? 475 00:26:25,480 --> 00:26:25,720 Speaker 2: Right? 476 00:26:27,240 --> 00:26:30,640 Speaker 12: Yeah, Because the issue with inflation is that it's cumulative. 477 00:26:30,800 --> 00:26:31,000 Speaker 9: Right. 478 00:26:31,400 --> 00:26:32,439 Speaker 12: You don't want to have. 479 00:26:32,520 --> 00:26:36,200 Speaker 13: Deflation, because deflation really screws with the economy and it's 480 00:26:36,280 --> 00:26:42,240 Speaker 13: usually associated with dramatic real economic losses, massive unemployment, great 481 00:26:42,280 --> 00:26:45,560 Speaker 13: depression style deflation, right, And we don't want to have 482 00:26:46,400 --> 00:26:50,280 Speaker 13: actual disinflation. What we do want is inflation to stop 483 00:26:50,320 --> 00:26:53,920 Speaker 13: increasing or you know, stabilize at that one percent rate 484 00:26:54,000 --> 00:26:57,040 Speaker 13: it was at when you know Donald Trump left. 485 00:26:56,840 --> 00:26:58,960 Speaker 12: Office, and then you want to have a bunch of 486 00:26:59,000 --> 00:27:02,080 Speaker 12: economic growth make up the gap. Donald Trump is a 487 00:27:02,080 --> 00:27:06,600 Speaker 12: spending issue. Donald Trump has no real plans to cut spending. However, 488 00:27:06,960 --> 00:27:09,680 Speaker 12: he's good on growth. So what you can do if 489 00:27:09,720 --> 00:27:13,960 Speaker 12: you don't dramatically increase the spending if you deregulate the economy. Right, 490 00:27:14,240 --> 00:27:18,120 Speaker 12: Trump was the first president in you know, fifteen years 491 00:27:18,200 --> 00:27:22,600 Speaker 12: that actually saved money with regulatory policy rather than add 492 00:27:22,600 --> 00:27:25,119 Speaker 12: on to the deficit. Even George W. Bush wasn't good 493 00:27:25,119 --> 00:27:26,840 Speaker 12: about this. The last person that did this even kind 494 00:27:26,880 --> 00:27:29,840 Speaker 12: of was Bill Clinton. Donald Trump actually wound up saving 495 00:27:29,840 --> 00:27:33,720 Speaker 12: a bunch of tax paramoney through deregulatory policy because you 496 00:27:33,760 --> 00:27:37,240 Speaker 12: get more economic growth and that increases the tax base. Look, 497 00:27:37,440 --> 00:27:40,520 Speaker 12: you would think with what everyone on the lat says 498 00:27:40,520 --> 00:27:42,840 Speaker 12: about the Tax Cuts and Jobs Act, that we would 499 00:27:42,840 --> 00:27:46,480 Speaker 12: have a tax revenue issue, but we don't. Tax revenue 500 00:27:46,520 --> 00:27:50,360 Speaker 12: was up eleven percent this fiscal year last fiscal year 501 00:27:50,400 --> 00:27:54,880 Speaker 12: to this fiscal year, with corporate tax revenue up twenty 502 00:27:54,960 --> 00:27:58,360 Speaker 12: nine percent. And that's with the Trump tax cuts, right, 503 00:27:58,400 --> 00:28:01,200 Speaker 12: the evil corporate tax cut give a is still in effect. 504 00:28:01,600 --> 00:28:04,080 Speaker 12: We are getting more tax revenue overall, and more corporate 505 00:28:04,160 --> 00:28:07,200 Speaker 12: tax revenue than we ever have in this country's history. 506 00:28:07,320 --> 00:28:09,560 Speaker 12: The issue is the spending. So on the one hand, 507 00:28:09,640 --> 00:28:11,800 Speaker 12: you can have growth and that helps offset some of 508 00:28:11,840 --> 00:28:13,760 Speaker 12: it because we know the lack of curve is a thing. 509 00:28:13,800 --> 00:28:16,280 Speaker 12: We know we need more economic growth. The better, it's 510 00:28:16,320 --> 00:28:18,320 Speaker 12: better for you, it's better for me, it's better for 511 00:28:18,359 --> 00:28:20,680 Speaker 12: our neighbor's jobs. It's also good for the tax base. 512 00:28:22,119 --> 00:28:24,520 Speaker 12: But on the spending element, the issue with Harris is 513 00:28:24,800 --> 00:28:27,119 Speaker 12: you aren't going to get any more of the deregulatory 514 00:28:27,160 --> 00:28:29,439 Speaker 12: policy because you've already seen what she wants to do 515 00:28:29,480 --> 00:28:33,360 Speaker 12: deregulatory wise, plus with more spending. You and I both 516 00:28:33,359 --> 00:28:35,720 Speaker 12: at least understand supply and demand. So if we have 517 00:28:35,760 --> 00:28:38,280 Speaker 12: a housing crisis right now, which we do, we have 518 00:28:38,680 --> 00:28:41,480 Speaker 12: way too few homes because the Fed kept interest rates 519 00:28:41,480 --> 00:28:46,080 Speaker 12: at zero for fourteen years. The solution is not to 520 00:28:46,200 --> 00:28:48,760 Speaker 12: throw money at the consumer. The demand is already there. 521 00:28:48,840 --> 00:28:50,800 Speaker 12: The solution is to build the houses. 522 00:28:53,160 --> 00:28:57,520 Speaker 1: Tianna, can you explain for will sidestep Kamala and for 523 00:28:57,960 --> 00:29:03,160 Speaker 1: a few moments, can you explain and why deflation is 524 00:29:03,240 --> 00:29:05,720 Speaker 1: bad because people see their dollar hasn't gone as far 525 00:29:05,800 --> 00:29:09,080 Speaker 1: obviously because we've had inflation, and people want it to 526 00:29:09,160 --> 00:29:12,800 Speaker 1: go back. They want it to deflate. But you say 527 00:29:12,800 --> 00:29:15,080 Speaker 1: it's bad, and you're correct about that, but people don't 528 00:29:15,120 --> 00:29:15,880 Speaker 1: understand why. 529 00:29:15,920 --> 00:29:17,320 Speaker 2: Can you please explain why? 530 00:29:18,960 --> 00:29:22,240 Speaker 12: So let's just say you are buying a big durable good, 531 00:29:23,040 --> 00:29:25,760 Speaker 12: something like a refrigerator or a television, something you don't 532 00:29:25,800 --> 00:29:28,520 Speaker 12: buy regularly. If you have money for it, you don't 533 00:29:28,520 --> 00:29:30,680 Speaker 12: need to, you know, take it a loan, but it 534 00:29:30,760 --> 00:29:33,080 Speaker 12: is a bigger expense. And if you think that the 535 00:29:33,080 --> 00:29:36,320 Speaker 12: price of consumer electronics are going down five percent every 536 00:29:36,320 --> 00:29:40,120 Speaker 12: single month, and remember we've had consumer spending categories where 537 00:29:40,120 --> 00:29:43,080 Speaker 12: they have increased by multiple percentage points in a month 538 00:29:43,160 --> 00:29:46,280 Speaker 12: under this inflation, let's reverse it. Let's say TVs are 539 00:29:46,320 --> 00:29:50,160 Speaker 12: going down in price five percent every single month. Everyone's 540 00:29:50,200 --> 00:29:51,840 Speaker 12: not going to spend their money. And you don't want 541 00:29:51,840 --> 00:29:53,880 Speaker 12: to bring the economy to a wholet. You don't want 542 00:29:54,760 --> 00:29:57,760 Speaker 12: you don't want everyone just holding on to their dollars indefinitely. 543 00:29:58,120 --> 00:30:01,560 Speaker 12: It's different if you're invest if you are investing it 544 00:30:01,600 --> 00:30:04,520 Speaker 12: in the stock market, if you're investing it in you know, 545 00:30:04,640 --> 00:30:07,840 Speaker 12: small businesses, if you're investing it in bonds, that's different. 546 00:30:07,880 --> 00:30:11,960 Speaker 12: That helps fuel economic growth, but the incentive structure is 547 00:30:12,040 --> 00:30:16,080 Speaker 12: removed in a radically deflationary environment. 548 00:30:16,400 --> 00:30:16,840 Speaker 1: You want. 549 00:30:17,000 --> 00:30:20,600 Speaker 12: There's a reason why the one to two percent inflation, 550 00:30:20,680 --> 00:30:23,200 Speaker 12: which is the Federal Reserve target. It's what we had 551 00:30:23,280 --> 00:30:28,160 Speaker 12: for four years from twenty seventeen through twenty twenty, including 552 00:30:28,240 --> 00:30:33,880 Speaker 12: through COVID. We had that very minimal stable expected inflation. 553 00:30:34,360 --> 00:30:36,920 Speaker 12: So for instance, an employer knows I'm going to get 554 00:30:36,920 --> 00:30:40,080 Speaker 12: a two percent cost of living adjustment in this normal environment, 555 00:30:40,360 --> 00:30:43,160 Speaker 12: and hopefully economic growth means that can give more performance 556 00:30:43,200 --> 00:30:47,840 Speaker 12: based radways. That doesn't happen when you don't know what's 557 00:30:47,840 --> 00:30:50,160 Speaker 12: going to happen to price stability. And it's why the 558 00:30:50,200 --> 00:30:54,160 Speaker 12: goal for the FED isn't no inflation, price stability. It 559 00:30:54,200 --> 00:30:57,640 Speaker 12: makes it so much easier for you know, the folks 560 00:30:57,760 --> 00:31:02,280 Speaker 12: in charge of companies and factories and the big physical 561 00:31:02,400 --> 00:31:04,800 Speaker 12: elements of the economy than we could be prepared. 562 00:31:06,880 --> 00:31:10,720 Speaker 1: Sanna, how did the Democrats like Kamala Harris, how did 563 00:31:10,720 --> 00:31:13,719 Speaker 1: they become the party of big business? Because they very 564 00:31:13,800 --> 00:31:16,480 Speaker 1: much are obviously they sell themselves as being for the 565 00:31:16,480 --> 00:31:18,960 Speaker 1: little guy and the poor man. But all the major 566 00:31:19,040 --> 00:31:21,560 Speaker 1: fortune five hundred companies, not all of them, but pretty 567 00:31:21,600 --> 00:31:23,840 Speaker 1: much all of them are run by filthy e commies 568 00:31:23,880 --> 00:31:28,000 Speaker 1: who support Democrats. Now, when and how exactly did that happen? 569 00:31:29,560 --> 00:31:34,640 Speaker 12: There's obviously been the polarization from what we could just 570 00:31:34,720 --> 00:31:37,520 Speaker 12: call the expert class. The reason why you had a 571 00:31:37,520 --> 00:31:41,040 Speaker 12: bunch of economists where that doing an extra two trillion 572 00:31:41,080 --> 00:31:44,320 Speaker 12: dollars of American Rescue Plan spending would stoke inflation, even 573 00:31:44,320 --> 00:31:47,480 Speaker 12: though we had just put unprecedented four trillion dollars in 574 00:31:47,520 --> 00:31:52,240 Speaker 12: the economy because of COVID. Right, So you have the 575 00:31:52,320 --> 00:31:56,760 Speaker 12: Democratic Party basis obviously become much more college educated, professional 576 00:31:56,800 --> 00:32:00,800 Speaker 12: degree right, Kamala Harris pulled she's a forty point lead 577 00:32:00,920 --> 00:32:06,040 Speaker 12: with college educated white women. Where you see everything backslide 578 00:32:06,280 --> 00:32:10,600 Speaker 12: is voters without degrees have gone overwhelmingly to the right. 579 00:32:10,640 --> 00:32:14,680 Speaker 12: And that's the cross racial line. The secondary reason for 580 00:32:14,720 --> 00:32:17,640 Speaker 12: why this has happened, other than just the ideological capture, 581 00:32:17,960 --> 00:32:22,080 Speaker 12: the fact that things like ESG DEI, these have become 582 00:32:22,200 --> 00:32:25,480 Speaker 12: mandy within these companies. And it's why you see Robin 583 00:32:25,520 --> 00:32:30,560 Speaker 12: DiAngelo getting hired by Netflix, and it's you know, climate 584 00:32:30,640 --> 00:32:35,280 Speaker 12: change goals for Coca Cola. On top of that, going 585 00:32:35,360 --> 00:32:39,160 Speaker 12: back to the fourteen years of zero percent interest rates, 586 00:32:39,600 --> 00:32:42,520 Speaker 12: it made it so that way we need the cost 587 00:32:42,560 --> 00:32:45,040 Speaker 12: of borrowing free, and it made it a lot easier 588 00:32:45,080 --> 00:32:47,680 Speaker 12: to give away. It's a lot easier to make a 589 00:32:47,720 --> 00:32:50,280 Speaker 12: profit when debt is free. And for these companies to 590 00:32:50,320 --> 00:32:53,440 Speaker 12: have engaged in these social experiments, in these you know, 591 00:32:53,480 --> 00:32:56,640 Speaker 12: political social experiments, and now it's much more difficult, and 592 00:32:56,680 --> 00:33:01,000 Speaker 12: they just want to get back to free money, the access, 593 00:33:01,160 --> 00:33:02,840 Speaker 12: and a government that can build them out. 594 00:33:05,000 --> 00:33:05,400 Speaker 2: Sianna. 595 00:33:05,840 --> 00:33:09,680 Speaker 1: Finally, we don't talk enough about the economic impact of 596 00:33:09,720 --> 00:33:13,520 Speaker 1: illegal immigration. Obviously, every time there's a drug overdose or 597 00:33:13,560 --> 00:33:15,360 Speaker 1: a rape or a murder or something terrible like that, 598 00:33:15,400 --> 00:33:19,520 Speaker 1: it hits the news, but the American people don't really 599 00:33:19,680 --> 00:33:23,240 Speaker 1: understand the impact this has on the education system, the 600 00:33:23,280 --> 00:33:29,480 Speaker 1: medical system, the housing crisis, the economically importing people by 601 00:33:29,640 --> 00:33:32,640 Speaker 1: the million and then paying them to be here is 602 00:33:32,760 --> 00:33:34,560 Speaker 1: devastating for the American citizen. 603 00:33:34,560 --> 00:33:36,080 Speaker 2: And that's Kamala Harrison's policies. 604 00:33:37,560 --> 00:33:41,000 Speaker 12: Yeah, that's been the explicit policy for the last four years. 605 00:33:41,320 --> 00:33:44,440 Speaker 12: And you know me, Jesse, I am a pro free market, 606 00:33:44,880 --> 00:33:50,680 Speaker 12: pro immigration, you know, libertarian in economics. However, that's not 607 00:33:50,720 --> 00:33:53,040 Speaker 12: the system that we have. So on top of the 608 00:33:53,080 --> 00:33:56,880 Speaker 12: fact that you have states like California or California, all 609 00:33:56,960 --> 00:34:01,400 Speaker 12: undocumented immigrants are entitled to Medica, which is their state 610 00:34:01,640 --> 00:34:04,600 Speaker 12: sponsored health insurance, you have other states that also use 611 00:34:04,800 --> 00:34:09,080 Speaker 12: federally subsidized that means federally funded Medicaid that are given 612 00:34:09,080 --> 00:34:11,680 Speaker 12: to undocumented immigrants. And this would be different if they 613 00:34:11,680 --> 00:34:14,440 Speaker 12: were paying into the system. But they aren't always, and 614 00:34:14,480 --> 00:34:17,480 Speaker 12: so that's why you have this dramatic insolvency. Right like 615 00:34:17,560 --> 00:34:21,239 Speaker 12: Social Security actually to an extent, is more safe from 616 00:34:21,280 --> 00:34:25,200 Speaker 12: this than the major healthcare spending. Federal food stamps, those 617 00:34:25,200 --> 00:34:27,439 Speaker 12: are things where you can't import a bunch of people 618 00:34:27,480 --> 00:34:30,319 Speaker 12: into the country and let them starve. And especially in 619 00:34:30,400 --> 00:34:35,640 Speaker 12: blue sanctuary states, the federal government subsidizes some of these programs, 620 00:34:35,920 --> 00:34:38,400 Speaker 12: and the doublers get all mixed because it's all fungible. 621 00:34:38,719 --> 00:34:41,920 Speaker 12: You have something also very explicit. I went to Springfield, Ohio. 622 00:34:42,880 --> 00:34:45,680 Speaker 12: There is no evidence of people eating dogs or eating calf. 623 00:34:45,920 --> 00:34:48,960 Speaker 12: What there is evidence of is the entire economy in 624 00:34:49,000 --> 00:34:53,440 Speaker 12: a crisis. In everyone in Springfield degrees. But the Haitians 625 00:34:53,560 --> 00:34:56,160 Speaker 12: are victims. Here. The villain is the government. And here's 626 00:34:56,200 --> 00:34:59,440 Speaker 12: why you have a lot of these migrants who are 627 00:34:59,440 --> 00:35:02,320 Speaker 12: not illegal. They've been granted TPS, and a part of TPS, 628 00:35:02,640 --> 00:35:06,560 Speaker 12: they get federally funded Medicaid and federally funded food stamps. 629 00:35:06,840 --> 00:35:10,759 Speaker 12: Few of these local slumwards that negotiate their employment contracts 630 00:35:10,800 --> 00:35:15,319 Speaker 12: with dull fruit manufacturing and dull fruit packaging, and they 631 00:35:15,360 --> 00:35:19,480 Speaker 12: explicitly fay you can pay these Haitian migrants you know, 632 00:35:19,880 --> 00:35:23,400 Speaker 12: bottom of the barrel wages because they have federally funded healthcare, 633 00:35:24,120 --> 00:35:27,600 Speaker 12: and that undercuts the local market rate of labor, which 634 00:35:27,640 --> 00:35:31,840 Speaker 12: is not free market economics. That's not capitalism. And the 635 00:35:31,880 --> 00:35:34,600 Speaker 12: people the worst off there are the Haitians that are 636 00:35:34,600 --> 00:35:39,640 Speaker 12: making slave wages. It's not good for anybody importing. And 637 00:35:39,719 --> 00:35:42,520 Speaker 12: again I'm not opposed to people that come into the 638 00:35:42,560 --> 00:35:45,960 Speaker 12: system the correct way, where you don't need you know, 639 00:35:46,080 --> 00:35:50,439 Speaker 12: subsidized housing, and where you can speak the language, where 640 00:35:50,480 --> 00:35:54,239 Speaker 12: you have enough translators, where you learn English. That's not 641 00:35:54,280 --> 00:35:56,719 Speaker 12: what's happening here. Instead, it's a bunch of very cheap 642 00:35:56,800 --> 00:35:59,920 Speaker 12: labor that has to be subsidized by you and me, 643 00:36:00,560 --> 00:36:02,960 Speaker 12: and at the same time it's undercutting the wages of 644 00:36:03,120 --> 00:36:04,560 Speaker 12: everyone else that's already here. 645 00:36:06,320 --> 00:36:09,879 Speaker 1: Yeah, slave labor is not free markets. It's a really 646 00:36:09,920 --> 00:36:13,320 Speaker 1: wonderful way to put that. Siata, appreciate you as always, Dynamite. 647 00:36:14,520 --> 00:36:20,360 Speaker 1: All right, we have the new Big Cheese and the 648 00:36:20,360 --> 00:36:21,640 Speaker 1: House Freedom Caucus. 649 00:36:21,760 --> 00:36:24,240 Speaker 2: Next, I'll be interested to see does he have anything 650 00:36:24,239 --> 00:36:24,760 Speaker 2: to say. 651 00:36:25,200 --> 00:36:43,720 Speaker 11: Hang on, Inflation is made in Washington because only Washington 652 00:36:43,719 --> 00:36:48,840 Speaker 11: can create money, and any other attribution to other groups 653 00:36:48,840 --> 00:36:51,560 Speaker 11: of inflamation is wrong. 654 00:36:53,000 --> 00:37:00,840 Speaker 10: Consumers don't produce it. Producers don't produce it, trade unions 655 00:37:00,840 --> 00:37:05,440 Speaker 10: don't produce it. Foreign sheiks don't produce it. Will imports 656 00:37:05,480 --> 00:37:09,360 Speaker 10: don't produce it. What produces it? It's too much government 657 00:37:09,400 --> 00:37:13,240 Speaker 10: spending and too much government creation of money and nothing else. 658 00:37:16,080 --> 00:37:23,800 Speaker 1: May there's nobody who put complicated things better than Milton Friedman. Gosh, anyway, 659 00:37:24,800 --> 00:37:27,239 Speaker 1: we're a little bit of ways away from that way 660 00:37:27,280 --> 00:37:30,560 Speaker 1: of thinking in this country. Joining me now, Congressman Representative 661 00:37:30,600 --> 00:37:33,319 Speaker 1: Andy Harris, I should say from Maryland, member of the 662 00:37:33,360 --> 00:37:35,480 Speaker 1: House Freedom Caucus, which tells you he's one of the 663 00:37:35,520 --> 00:37:39,440 Speaker 1: few good ones out there. Congressman, I almost don't even 664 00:37:39,480 --> 00:37:41,520 Speaker 1: want to say this because it hurts me to even 665 00:37:41,560 --> 00:37:41,840 Speaker 1: say it. 666 00:37:41,840 --> 00:37:43,480 Speaker 2: But the national debt wasn't. 667 00:37:43,239 --> 00:37:46,880 Speaker 1: Even a trillion dollars when Milton Friedman gave that speech 668 00:37:46,960 --> 00:37:47,800 Speaker 1: back in the seventy. 669 00:37:48,080 --> 00:37:50,560 Speaker 2: Now it's thirty five. We are doing. 670 00:37:50,360 --> 00:37:55,640 Speaker 14: Well, well, it's pretty close to thirty six. It's just 671 00:37:55,840 --> 00:37:58,760 Speaker 14: completely out of control, completely out of control. 672 00:38:00,840 --> 00:38:04,520 Speaker 1: Congressman, how do we stop it? It doesn't seem like 673 00:38:04,520 --> 00:38:06,719 Speaker 1: there's any appetite to stop it. To be frank, with 674 00:38:06,840 --> 00:38:09,960 Speaker 1: either party, I know we love to complain because Democrats 675 00:38:09,960 --> 00:38:13,279 Speaker 1: spend as much or more, but Republicans love to spend. 676 00:38:13,560 --> 00:38:17,279 Speaker 1: The American citizen doesn't see a problem with spending. It says, 677 00:38:17,280 --> 00:38:21,560 Speaker 1: if there are no powerful forces trying to stop inflation, 678 00:38:21,680 --> 00:38:22,719 Speaker 1: everyone's mad about it. 679 00:38:23,040 --> 00:38:24,120 Speaker 2: No one's trying to stop it. 680 00:38:25,440 --> 00:38:27,640 Speaker 14: Look, you're absolutely right, there's no question about it. The 681 00:38:27,719 --> 00:38:31,280 Speaker 14: Union Party here in Washington loves to spend. And again, 682 00:38:31,320 --> 00:38:32,799 Speaker 14: people have come to expect it. 683 00:38:33,680 --> 00:38:33,880 Speaker 2: You know. 684 00:38:34,080 --> 00:38:36,759 Speaker 14: Look, we have disasters around. People come to expect the 685 00:38:36,760 --> 00:38:39,520 Speaker 14: federal government to come in create dollars because we're all 686 00:38:39,560 --> 00:38:42,480 Speaker 14: borrowing the dollars. We're all creating these dollars to help 687 00:38:42,480 --> 00:38:45,919 Speaker 14: with things like that. Again, we are two trillion dollar 688 00:38:46,320 --> 00:38:48,840 Speaker 14: federal deficits every year, year over year. And I have 689 00:38:48,880 --> 00:38:50,800 Speaker 14: to tell you, Jesse, the only thing that will stop 690 00:38:50,840 --> 00:38:54,000 Speaker 14: it is the thing that stops it happening. In individual states, 691 00:38:54,200 --> 00:38:57,200 Speaker 14: you have to have a balanced budget amendment to the Constitution. 692 00:38:57,320 --> 00:38:59,400 Speaker 14: You actually have to have a law that says you 693 00:38:59,440 --> 00:39:00,839 Speaker 14: can't over spend. 694 00:39:02,560 --> 00:39:05,680 Speaker 1: Which seems like I don't don't, I don't want to overstate. 695 00:39:05,719 --> 00:39:09,480 Speaker 1: But that seems like almost an impossibility because that kind 696 00:39:09,480 --> 00:39:12,160 Speaker 1: of a thing has to be passed in Washington, DC, 697 00:39:12,600 --> 00:39:14,839 Speaker 1: and you'll have to forgive me, But the same group 698 00:39:14,840 --> 00:39:17,440 Speaker 1: of people who just passed yet another CR which in 699 00:39:17,480 --> 00:39:19,880 Speaker 1: and of itself is a scandal. I need to remind everybody. 700 00:39:20,080 --> 00:39:22,040 Speaker 1: Don't seem like the same group of people who are 701 00:39:22,040 --> 00:39:23,400 Speaker 1: going to vote to balance their budget. 702 00:39:24,640 --> 00:39:25,520 Speaker 2: You're absolutely right. 703 00:39:25,719 --> 00:39:28,160 Speaker 14: All I'm saying is that that's the way it would 704 00:39:28,200 --> 00:39:31,560 Speaker 14: have to be solved. But it practically speaking can't be 705 00:39:31,560 --> 00:39:34,239 Speaker 14: solved that way either, Because you're right, we attempted to 706 00:39:34,280 --> 00:39:36,120 Speaker 14: do it. I was elected with the Tea Party wave 707 00:39:36,160 --> 00:39:39,040 Speaker 14: in twenty ten. We attempted to do it shortly after that. 708 00:39:39,320 --> 00:39:41,280 Speaker 14: We couldn't even do it then when we had larger 709 00:39:41,320 --> 00:39:42,400 Speaker 14: majorities in the House. 710 00:39:45,040 --> 00:39:48,360 Speaker 1: Yeah, what's going on with the omnibus spill? The minibus spill? 711 00:39:48,480 --> 00:39:51,360 Speaker 1: I'm believe me. I've heard that. No, there's not going 712 00:39:51,440 --> 00:39:54,279 Speaker 1: to be an omnibus, But I'm sorry, I've heard many 713 00:39:54,360 --> 00:39:55,280 Speaker 1: of those things before. 714 00:39:55,320 --> 00:39:56,560 Speaker 2: I also heard there. 715 00:39:56,480 --> 00:39:59,360 Speaker 1: Wouldn't be any money for Ukraine until there was border security, 716 00:39:59,360 --> 00:40:01,359 Speaker 1: and then that does appeared like a fart in the wind. 717 00:40:01,719 --> 00:40:03,880 Speaker 1: So is there going to be an omnibus or is 718 00:40:03,920 --> 00:40:05,640 Speaker 1: this just a bunch of Washington bluster? 719 00:40:06,680 --> 00:40:09,560 Speaker 14: Well, at this point, look, we intend in the Freedom Caucus. 720 00:40:09,560 --> 00:40:12,239 Speaker 14: We will hold Michael Johnson to his word, he said. 721 00:40:12,360 --> 00:40:14,680 Speaker 14: Mike Johnson said that he is not going to do 722 00:40:14,719 --> 00:40:16,640 Speaker 14: an omnibus bill. He's not going to agree to one 723 00:40:16,680 --> 00:40:17,920 Speaker 14: in December. 724 00:40:18,680 --> 00:40:18,880 Speaker 2: You know. 725 00:40:19,160 --> 00:40:22,200 Speaker 14: Again, if we win the elections, then I see no 726 00:40:22,280 --> 00:40:24,960 Speaker 14: reason why we shouldn't kick all these discussions into next year, 727 00:40:25,000 --> 00:40:27,799 Speaker 14: when potentially we could hold both Houses of Congress and 728 00:40:27,880 --> 00:40:30,760 Speaker 14: the presidency. But look, we're going to hold Mike Johnson 729 00:40:30,760 --> 00:40:32,719 Speaker 14: to his word, he said, quite emphatically. He's gonna be 730 00:40:32,760 --> 00:40:36,720 Speaker 14: no omnibus. Now, look, we have some skepticism on that too, because, 731 00:40:36,800 --> 00:40:38,799 Speaker 14: just like you say, we have heard this kind of 732 00:40:38,800 --> 00:40:42,120 Speaker 14: thing before. But we'll give Mike Johnson a chance. He 733 00:40:42,160 --> 00:40:44,280 Speaker 14: says he's not going to do it. Hopefully he doesn't 734 00:40:44,280 --> 00:40:46,919 Speaker 14: because that Christmas omnibus is usually loaded. 735 00:40:46,640 --> 00:40:47,680 Speaker 2: Up and larded up. 736 00:40:48,680 --> 00:40:51,400 Speaker 14: Honestly, if this, if this were a regular year and 737 00:40:51,480 --> 00:40:54,600 Speaker 14: Mike hadn't said this, we probably would have that omnibus 738 00:40:54,840 --> 00:40:57,360 Speaker 14: in front of us pretty quickly, with one hundred billion 739 00:40:57,400 --> 00:41:00,440 Speaker 14: dollars supplemental for disaster on top of it, with another 740 00:41:00,480 --> 00:41:06,040 Speaker 14: fifty billion perhaps for Ukraine, Israel is eight as well. Again, 741 00:41:06,200 --> 00:41:08,920 Speaker 14: we have to avoid the Christmas omnibus. The Speaker has 742 00:41:08,920 --> 00:41:10,239 Speaker 14: said he's not going to do it. 743 00:41:11,080 --> 00:41:11,960 Speaker 2: We're going to We're going to. 744 00:41:12,080 --> 00:41:13,319 Speaker 14: Try to hold him to his word. 745 00:41:15,040 --> 00:41:17,600 Speaker 1: Yeah, well, well, I guess we'll see if that happens. 746 00:41:17,760 --> 00:41:20,400 Speaker 1: The Freedom Caucus. Is it growing or is it shrinkings? 747 00:41:20,440 --> 00:41:22,520 Speaker 1: We really need you guys to grow and be even 748 00:41:22,520 --> 00:41:23,600 Speaker 1: more powerful than you more. 749 00:41:24,680 --> 00:41:27,160 Speaker 14: Well, it's about the same size. It's been the same 750 00:41:27,200 --> 00:41:29,319 Speaker 14: size for several years now. You know, if it gets 751 00:41:29,360 --> 00:41:31,840 Speaker 14: too big. The trouble is, we don't have that many 752 00:41:32,160 --> 00:41:35,759 Speaker 14: true conservatives in Washington, as you can imagine, So it's 753 00:41:35,800 --> 00:41:38,560 Speaker 14: not an unlimited you know, we can't have the entire 754 00:41:38,600 --> 00:41:40,879 Speaker 14: It be great to have the entire conference, but we're 755 00:41:40,880 --> 00:41:43,040 Speaker 14: never going to have that. So we have to be 756 00:41:43,120 --> 00:41:46,200 Speaker 14: the vanguard of the conservative movement within the House of Representatives. 757 00:41:46,200 --> 00:41:49,800 Speaker 14: That that's our goal. And by sticking together and forcing 758 00:41:49,880 --> 00:41:53,040 Speaker 14: the conference into in a more conservative direction, hopefully we 759 00:41:53,040 --> 00:41:55,680 Speaker 14: can again turn the country around to a better direction. 760 00:41:55,800 --> 00:41:58,520 Speaker 14: But it is it is long hard work, let me. 761 00:41:58,480 --> 00:42:02,239 Speaker 2: Tell you no doubt. Congressman, thank you so much. I 762 00:42:02,320 --> 00:42:07,759 Speaker 2: appreciate it. All right, we'll be back. 763 00:42:22,920 --> 00:42:26,120 Speaker 1: The other night, I didn't want to go home from 764 00:42:26,200 --> 00:42:28,479 Speaker 1: work when the show was over and it was time 765 00:42:28,560 --> 00:42:29,840 Speaker 1: to take off my earpiece. 766 00:42:29,880 --> 00:42:33,960 Speaker 2: I didn't want to go home from work. Why my son, one. 767 00:42:33,840 --> 00:42:35,279 Speaker 1: Of them, I'm not going to tell you which one 768 00:42:35,560 --> 00:42:37,600 Speaker 1: got himself in a little bit of trouble in school. 769 00:42:37,600 --> 00:42:40,120 Speaker 2: It was fine, he's a good kids. It's no big deal. 770 00:42:40,920 --> 00:42:44,040 Speaker 1: But I knew that when I got home that night, 771 00:42:44,960 --> 00:42:48,920 Speaker 1: I didn't get to do the dad's home, call my buddies, 772 00:42:48,920 --> 00:42:50,120 Speaker 1: well you want a pizza. 773 00:42:50,160 --> 00:42:52,000 Speaker 2: I didn't get to be that guy. 774 00:42:52,760 --> 00:42:56,480 Speaker 1: I had to go home, crack the whip and make 775 00:42:56,520 --> 00:42:59,240 Speaker 1: hard choices, hard choices. 776 00:42:59,320 --> 00:43:00,680 Speaker 2: Stuck they do. 777 00:43:01,640 --> 00:43:04,239 Speaker 1: When we discuss these things about our economy and the 778 00:43:04,320 --> 00:43:08,640 Speaker 1: economic collapse, it's hard to hear and it's hard to 779 00:43:08,680 --> 00:43:10,080 Speaker 1: think about. 780 00:43:09,640 --> 00:43:11,319 Speaker 2: We don't want it. 781 00:43:11,920 --> 00:43:14,319 Speaker 1: We don't want to have to sit down and look 782 00:43:14,320 --> 00:43:17,799 Speaker 1: at this government service or this or that and say, no, no, 783 00:43:17,880 --> 00:43:20,120 Speaker 1: you need to stop spending it, Please stop sending it, 784 00:43:20,160 --> 00:43:22,040 Speaker 1: please stop save my way. Let We don't want to 785 00:43:22,080 --> 00:43:24,200 Speaker 1: do that, because that's a hard conversation. We want to 786 00:43:24,239 --> 00:43:27,319 Speaker 1: go home and eat pizza with our songs. But we've 787 00:43:27,320 --> 00:43:29,840 Speaker 1: got to go home and ground them. We've got to 788 00:43:29,840 --> 00:43:34,840 Speaker 1: begin grounding our politicians. Now, spending in debt isn't some 789 00:43:35,160 --> 00:43:38,480 Speaker 1: absurd side issue while don't talk about it till after 790 00:43:38,520 --> 00:43:39,399 Speaker 1: the election. 791 00:43:40,040 --> 00:43:41,960 Speaker 2: It is the issue. 792 00:43:42,560 --> 00:43:46,640 Speaker 1: And as the normal, average, everyday American gets steam rolled 793 00:43:46,719 --> 00:43:52,120 Speaker 1: by inflation, by all this madness debt and deficits and spending, 794 00:43:52,440 --> 00:43:55,319 Speaker 1: it's going to rise to the surface and everyone is 795 00:43:55,360 --> 00:43:58,759 Speaker 1: going to realize in the end it might be the 796 00:43:58,800 --> 00:44:02,560 Speaker 1: only thing that matter, and it was the thing we neglected. 797 00:44:02,960 --> 00:44:05,200 Speaker 1: I don't want to have to make hard choices. You 798 00:44:05,239 --> 00:44:07,880 Speaker 1: don't want to have to make hard choices, but hard 799 00:44:08,000 --> 00:44:13,040 Speaker 1: choices are oftentimes necessary. We sit right here and our 800 00:44:13,120 --> 00:44:16,640 Speaker 1: position as American people, and it's time to make them. 801 00:44:17,000 --> 00:44:22,680 Speaker 1: Start demanding your politician cut spending to save you and 802 00:44:22,760 --> 00:44:24,240 Speaker 1: more specifically your children. 803 00:44:24,400 --> 00:44:27,080 Speaker 2: All Right, all right, we'll do it again.