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Speaker 1: Coming to a.

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Speaker 2: Saying you a CONSCIOUSNNG.

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Speaker 3: New Sean Hannity Show more, I'm on freaking News and

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Speaker 3: more bold inspired solutions for America right our two.

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Speaker 2: Sean Hannity Show told free. Let me give you our number,

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Speaker 2: It's eight hundred and nine foot one, Sean. If you

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Speaker 2: can be a part of the program, don't forget. The

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Speaker 2: new Speaker of the House, Mike Johnson is going to

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Speaker 2: join us on Hannity tonight a lot to talk about

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Speaker 2: regarding him as new Speaker. Here he is yesterday talking

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Speaker 2: about how the People's House is back in business.

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Speaker 4: It's the beauty of America that allowed him earlier today

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Speaker 4: for country, It's the beauty of America that allows a

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Speaker 4: firefighters kid like me to come here and serve in

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Speaker 4: this sacred chamber where great men and women have served

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Speaker 4: before all of us, and strive together to build and

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Speaker 4: then preserve what Lincoln did refer to as the last

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Speaker 4: best hope of man on earth. We stand at a

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Speaker 4: very dangerous time. I'm stating the obvious. We all know

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Speaker 4: that the world is in turmoil, but a strong America

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Speaker 4: is good for the entire world.

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Speaker 1: I believe that.

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Speaker 4: Each one of us has a huge responsibility today to

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Speaker 4: use the gifts that God has given us to serve

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Speaker 4: the extraordinary people of this great country and they deserve it,

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Speaker 4: and to ensure that our republic remains standing as the

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Speaker 4: great beacon of light and hope and freedom and a

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Speaker 4: world that desperately needs it. When our people are losing

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Speaker 4: their faith in government, when they're losing sight of the

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Speaker 4: principles that made us the greatest nation in the history

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Speaker 4: of the world, I think we got to be mindful

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Speaker 4: of that.

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Speaker 2: We're going to fight.

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Speaker 4: We're going to fight vigorously over our core principles because

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Speaker 4: there are odds a lot of times now in this

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Speaker 4: modern era, we have to sacrifice sometimes our preferences because

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Speaker 4: that's what's necessary in a legislative body. But we will

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Speaker 4: defend our core principles to the end. We want our

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Speaker 4: allies around the world to know that this body of

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Speaker 4: lawmakers is reporting again to our duty stations. Let the

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Speaker 4: enemies of freedom around the world hear us loud and clear.

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Speaker 4: The People's House is back in business.

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Speaker 2: Well, I'm glad they're back in business. You know one

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Speaker 2: thing I didn't do, like so many other people, I

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Speaker 2: didn't go, oh the earth is falling Oh my gosh,

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Speaker 2: Oh my gosh, Oh my gosh. I knew eventually they'd

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Speaker 2: get there. They had to. I think it was the

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Speaker 2: process was unnecessary. I don't like this rule where any

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Speaker 2: one member can stop, you know, all work in the

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Speaker 2: House of Representatives and move forward with the motion of

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Speaker 2: vacate and when you have a small majority. I keep

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Speaker 2: telling Republicans. Nobody listens to me, But I tell them

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Speaker 2: you're gonna win together or you're gonna lose together. There's

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Speaker 2: not gonna be some winners and some losers. No, either

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Speaker 2: the American people deem your leadership as successful or they

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Speaker 2: view it as a failure. That's how it's going to be. Now,

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Speaker 2: maybe they'll get a C instead of an F. I

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Speaker 2: don't know, but the bottom line is whatever grade they get,

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Speaker 2: they'll get it together anyway. Our friend, Congressman Byron Donalds

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Speaker 2: was back on from Florida, who at one point late

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Speaker 2: in the game became a potential speaker himself, which I

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Speaker 2: would have been absolutely excited over. How are you, mister

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Speaker 2: donald sir?

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Speaker 1: Doing good? Sean? How are you?

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Speaker 2: I think you would have been a great speaker. But

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Speaker 2: how did that process work out in your head?

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Speaker 1: How?

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Speaker 2: How did you like being part of that mess?

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Speaker 1: I mean, I don't view it that way. I view

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Speaker 1: it as just trying to be a part of the solution.

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Speaker 1: You know, we listen, We obviously Kevin McCarthy got vacated,

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Speaker 1: Steve Sclives didn't have the votes, Jim Jordans didn't have

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Speaker 1: the votes. Tom Emmer didn't have the votes, and so

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Speaker 1: you know, at that point, I think when Jim realized

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Speaker 1: he didn't have the votes and he left, I decided

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Speaker 1: with my you know, my team and my family to

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Speaker 1: take a run at it, to take a shot at it.

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Speaker 1: And it really was really about just getting the House

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Speaker 1: back to work, getting us organized, and then figuring out

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Speaker 1: strategically how we're gonna get our borders cured, which we

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Speaker 1: know the White House doesn't want to do, and we

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Speaker 1: know Senate Democrats don't want to do, but we have

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Speaker 1: to find a way to make it happen. Nonetheless, but look,

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Speaker 1: Mike Johnson is going to be a great Speaker of

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Speaker 1: the House. Mike and I we've known each other for

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Speaker 1: the past year, got a chance to know him more

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Speaker 1: through this Congress, and Shawn, I'm gonna tell you, the

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Speaker 1: man is a man. He's a man of deep faith.

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Speaker 1: Everybody knows that of impeccable character, and I think that

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Speaker 1: right now, with where the House is, there's a lot

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Speaker 1: of trust that has to be rebuilt between the members,

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Speaker 1: and I think that the Speaker is going to be

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Speaker 1: able to do that. Now.

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Speaker 2: You see all the attacks coming his way. I'll see

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Speaker 2: him tonight. I've got to believe he's got to know

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Speaker 2: that this is coming. What do you make of Well,

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Speaker 2: you said this twenty years ago about gay marriage and

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Speaker 2: and everything else in between. What are your What would

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Speaker 2: your advice be to him in terms of how to

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Speaker 2: handle that.

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Speaker 1: My advice will be Listen, you said what you said,

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Speaker 1: You own it. But that's not what matters to the America.

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Speaker 1: People pulling up clips of something he said in an

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Speaker 1: interview two decades ago. Has nothing to do with the

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Speaker 1: price of food and the price of gas in the

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Speaker 1: United States. It has nothing to do with the fact

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Speaker 1: that almost two hundred thousand Americans have been killed by

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Speaker 1: fetnel overdoses because of Joe Biden's reckless policy. It has

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Speaker 1: nothing to do with the fact that Joe Biden, under

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Speaker 1: his watch, we have now evacuated five US embassies around

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Speaker 1: the globe and our greatest ally in the region is

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Speaker 1: under attacked by the Iranian backs Hamas and not going

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Speaker 1: to do with it, and so I would say, yeah,

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Speaker 1: I said that, but the only people bringing that up

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Speaker 1: are the Democrats who are trying to cover for the

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Speaker 1: fact that they have run a terrible set of policies

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Speaker 1: which is hurting every American and is hurting us across

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Speaker 1: the globe.

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Speaker 2: Well, that's a great answer. I hope he's listening to

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Speaker 2: the show. I'd take that for Betam and saying Byron

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Speaker 2: Donald's gave me some good advice today. You know, I

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Speaker 2: guess what frustrated me. And I do understand the quote

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Speaker 2: group of eight that wanted to make Kevin McCarthy and

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Speaker 2: they were specifically, you know, annoyed at the budget agreement

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Speaker 2: that he made I believe was back in May, and

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Speaker 2: they didn't want that to happen this time. And they

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Speaker 2: wanted to return to regular order, which I'm a supporter of,

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Speaker 2: which means you go through the appropriations process, you get

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Speaker 2: it done, and get it done on time. The House

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Speaker 2: had only completed four of the twelve appropriations bills. However,

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Speaker 2: there was a bridge that was built by you and

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Speaker 2: Congressmanship Roy who's going to join us later in the

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Speaker 2: program also today. That I thought was a really really

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Speaker 2: smart solution, and the first part of it was, and

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Speaker 2: the first it was one of two solutions you brought forward,

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Speaker 2: was an eight percent across the board cut with exceptions

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Speaker 2: for the military, veterans, etc. Increasing funding to secure our border,

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Speaker 2: and then you would have given you know, it's rather

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Speaker 2: than what we call a clean cr where they get

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Speaker 2: to continue to spending at the levels that brought us

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Speaker 2: to billion dollars in debt last year. That would have

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Speaker 2: bought enough time to finish the appropriations process. It would

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Speaker 2: have saved money in the meantime, it would have secured

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Speaker 2: our borders in the meantime, and then we could have

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Speaker 2: been at the point where the eight said they wanted

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Speaker 2: to be, which is with the appropriations bills passed. I

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Speaker 2: thought that was a great solution. Why did that not work? Well?

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Speaker 1: Two things. One, I think it didn't work because at

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Speaker 1: the end of the day, you know, you have members

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Speaker 1: who said very clearly they would never support a continuing resolution.

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Speaker 1: We tried to have that debate and they got locked

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Speaker 1: into their position and they weren't willing to change it.

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Speaker 1: I think the other pieces, you know, for them, they

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Speaker 1: didn't trust that Kevin would continue doing the work on

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Speaker 1: the appropriation bills, and they viewed it as all you're

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Speaker 1: going to do is set up this this train where

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Speaker 1: we're going to end up in an omnibus package. Now

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Speaker 1: I disagreed with that because I had been working with

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Speaker 1: the more moderate members in our conference to help them

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Speaker 1: understand what was going to be the state of play,

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Speaker 1: what was going to be the workflow we were going

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Speaker 1: to need to do in order to avoid anom ofbus

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Speaker 1: Because I'm not supporting anomabus bill, Sean, I'll tell you

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Speaker 1: that right now. I'm not gonna do it. I'm not

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Speaker 1: even gonna support mini busses. Not gonna do that either.

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Speaker 1: For people listening a minibuses where they take two or

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Speaker 1: three appropriation bills, they put them together, they call those

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Speaker 1: minibusses up here. So I wouldn't support that either. But

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Speaker 1: there was but you needed the time in order to

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Speaker 1: complete the work, and so that was really the strategy

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Speaker 1: that we were trying to unfold. I think if we had,

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Speaker 1: if that would have passed, we would have been in

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Speaker 1: a significantly better position against the Senate because Sean, look

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Speaker 1: what's happening now. While we were looking for a speaker,

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Speaker 1: finally we have one in Mike Johnson. But while we

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Speaker 1: were doing that, the Senate has done nothing. They've done

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Speaker 1: no work the last three weeks. They've not moved an

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Speaker 1: appropriations bill, They've not renamed a post office Sean. The

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Speaker 1: Senate has been doing nothing. So we need to understand

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Speaker 1: very clearly in the House we got to be supportive

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Speaker 1: of Mike Johnson. We need to stand behind him firmly.

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Speaker 1: We have to come out with our bills, and we

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Speaker 1: have to stand squarely looking at the Senate and say

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Speaker 1: that they need to get back to work because we're

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Speaker 1: not just going to do in my view, crs into

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Speaker 1: infinitum and we're not.

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Speaker 2: You're about you're about to come up against the deadline?

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Speaker 2: What in about twenty days?

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Speaker 1: Yeah, in about twenty days, that's right, And I think

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Speaker 1: we have an aggressive calendar that's already come out. We

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Speaker 1: can get our work done, but the Senate's got to

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Speaker 1: start working. And so is there going to be some

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Speaker 1: resolution that might come forward? Yeah, it's very very possible.

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Speaker 1: Now we're gonna have to evaluate what that is. I

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Speaker 1: think you have to you have to tactically make a

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Speaker 1: decision on what that looks like, depending on how work,

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Speaker 1: how much work we can accomplish, and how much work

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Speaker 1: the Senate accomplishes over the next fifteen days.

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Speaker 2: Well, what if we come up in the next fifteen days,

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Speaker 2: twenty days, you know, with another you know, oh my god,

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Speaker 2: this guy is falling. The government's about to shut down

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Speaker 2: if we don't pass a cr Do we go back

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Speaker 2: to the Byron Donald's chip Roy plan.

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Speaker 1: It's possible. And honestly, Sean, I don't really know to

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Speaker 1: probably about ten days out, maybe five days out. Look,

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Speaker 1: we passed.

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Speaker 2: We'll do me a favor of the minute, you know,

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Speaker 2: will you please call and and tell this audience because

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Speaker 2: we'd like Tendaho too.

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Speaker 1: I will. But let me tell you, Sean, we passed

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Speaker 1: seventy percent of the funding of the federal government in

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Speaker 1: military construction and veteran affairs, homeland security, stay in foreign Ops,

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Speaker 1: which by the way, is one of the best day

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Speaker 1: of foreign ops bills has passed. Is the House. They

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Speaker 1: haven't passed one in about a decade, and then the

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Speaker 1: Department of Defense appropriations. That's seventy percent of the federal government.

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Speaker 1: The Senate hasn't even passed those bills, Sean not off

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Speaker 1: the Senate floor. We could get that work done over

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Speaker 1: the next ten days, then you'll be left with thirty

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Speaker 1: percent of the government. This is what I'm saying. Depending

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Speaker 1: on how our workflow goes over the next ten to

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Speaker 1: twenty days is going to determine a lot of what

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Speaker 1: that package looks like in the end.

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Speaker 2: All right, quick break more with Florida Congressman Byron Donalds

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Speaker 2: and we'll get to your calls.

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Speaker 1: Hi.

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Speaker 2: We continue now with Republican Congressman Byron Donalds, who's with us.

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Speaker 2: What I want to see unfold is the pressure remove

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Speaker 2: get removed from your chamber. You guys do your work.

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Speaker 2: Then they have to work off what you send them,

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Speaker 2: and then you'll head into conference because they probably will

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Speaker 2: butcher it to death and they'll want to go along,

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Speaker 2: probably with Joe Biden and the administration, and and they'll

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Speaker 2: want to tie all of this into one big omnibus

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Speaker 2: bill and the House, you know you don't have a

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Speaker 2: big margin. Is the House going to be strong and

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Speaker 2: stand is won and say no, we're not supporting that.

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Speaker 2: And at that point, let the Democrats shut the government down.

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Speaker 1: Look, my position what I've told to some of the

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Speaker 1: my freedal Caucus members by and.

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Speaker 2: Let me add one thing. Mitch McConnell agreed to these numbers.

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Speaker 1: Yeah, but the Senate's already gone over the numbers. So

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Speaker 1: like what my position now for House members is, we

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Speaker 1: have to stand united behind behind Mike Johnson. We have

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Speaker 1: to do that right now. If we do that, are

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Speaker 1: passing our bills. It will be a clear message to

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Speaker 1: the Senate into the White House that the House is united.

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Speaker 1: We're not playing these games. We're gonna cut spending, We're

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Speaker 1: gonna do it responsibly. And then the last piece of

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Speaker 1: this Shawan, which is the most critical piece, we are

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Speaker 1: going to secure the southern border. The House is basically

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Speaker 1: we are committed that we can. We're not gonna take

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Speaker 1: that supplemental in one package. We're gonna split them into pieces.

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Speaker 1: I think you hold Ukraine, you don't move, you don't

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Speaker 1: do anything with that right now? Is the Israel package?

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Speaker 1: We move that one, send it back to the Senate.

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Speaker 1: I think we might could do some disaster recovery stuff

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Speaker 1: with it. Do those two things. Send that back to

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Speaker 1: the Senate, and the set is gonna be like, well,

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Speaker 1: what about Ukraine, and we're gonna look at them and say,

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Speaker 1: Israel is our greatest ally. It's not just in the

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Speaker 1: region they might, They're probably our greatest ally in the world.

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Speaker 1: We're gonna take care of our friends first. Let's get

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Speaker 1: that business done. Then when you go, when you go

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Speaker 1: to Ukraine, the Ukraine number is sixty billion dollars. We

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Speaker 1: got to pay for that. Joe Biden has his Green

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Speaker 1: New Deal package that might cost us a trillion or

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Speaker 1: two trillion dollars. No, Joe, you can't have your cake

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Speaker 1: and eat it too. You're gonna have to pay for Ukraine.

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Speaker 1: We're not gonna go to the treasury markets and borrow

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Speaker 1: more money because it's getting harder for Janet Yellen to

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Speaker 1: borrow money anyway, It's getting more expensive for us. We

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Speaker 1: got to realize that and understand that. So you got

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Speaker 1: to pay for this. You can't just go borrow it

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Speaker 1: and send it in the Ukraine. But let me be

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Speaker 1: very clear, our members, the majority of House Republicans are

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Speaker 1: not interested in more money for Ukraine while the southern

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Speaker 1: border is wide open. If Joe Biden wants to vote

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Speaker 1: for wants Ukrainian aid, then he needs to secure the

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Speaker 1: southern border. It's that simple.

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Speaker 2: He needs to secure the border, get aid to Israel.

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Speaker 2: Are you going to take them all up individually.

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Speaker 1: Yeah, they need to come up individually.

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Speaker 2: Noe with you.

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Speaker 1: That's how That's how the Democrats always drop a bunch

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Speaker 1: of slimy stuff into these packages. Like you brought up

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Speaker 1: the aid for Palaesinian relief. We all know Hamas is

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Speaker 1: going to take that money and they're going to put

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Speaker 1: it into bullets, and they're going to put it into missiles,

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Speaker 1: and the Palacinian people won't see a dime of it.

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Speaker 2: Well, you know that. I know that clearly. Joe Biden

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Speaker 2: doesn't know that, and that's become a top priority for him.

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Speaker 2: You know, the one thing that if everybody understood this

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Speaker 2: in the Republican conference and they all embrace the fact

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Speaker 2: that they win or lose together, I think you agree

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Speaker 2: with me that there's not going to be some winners

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Speaker 2: and some losers. If they just did these things, these

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Speaker 2: very simple things, that they would be viewed as as

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Speaker 2: successful by the American people, and then all the pressure

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Speaker 2: about either shutting down the government or you know, budget

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Speaker 2: deficits and record debt that would then go the blame

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Speaker 2: would then go to the people that are pushing for it,

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Speaker 2: And to me, that seems like a winning political agenda

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Speaker 2: for the Republican.

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Speaker 1: I totally agree, and I think Sean, the reason why

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Speaker 1: we can do that is because Joe Biden has no

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Speaker 1: control over the bully pulpit. I'm been telling my colleagues

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Speaker 1: this for about six seven weeks. Joe Biden has no

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Speaker 1: control over the bully pulpit. His team at the White

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Speaker 1: House don't even want him at the microphones. They play

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Speaker 1: the elevator music to get him to stop talking. Sean,

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Speaker 1: That's what's happening with the president. The other countries around

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Speaker 1: the world are just telling the President of the United States, now, man,

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Speaker 1: I'm good, I'm not coming to meet with you. I'll

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Speaker 1: talk to you later. This has not happened to our

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Speaker 1: country before. So in this period of time where you

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Speaker 1: have a president who is obviously weakened from the House perspective,

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Speaker 1: from the Republican perspective, this is the time to push

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Speaker 1: hard to actually achieve the outcomes that the American people

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Speaker 1: have been demanding out of this government. Frankly since Joe

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Speaker 1: Biden became president, because that thing has been a disaster

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Speaker 1: since he became president.

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Speaker 2: You know, I could see a day where one day

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Speaker 2: I invite you on this program and introduce you as

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Speaker 2: Speaker of the House. Byron Donald's, I could see that day.

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Speaker 1: I'm saying no that those days are gone.

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Speaker 2: It is Oh, you've passed on that all right? Anyway,

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Speaker 2: Byron Donald's, appreciate you being with us, my friend mold

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Speaker 2: inspired solutions for America. This is the Sean Hannity Show

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Speaker 2: I had twenty five now to the top of the hour.

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Speaker 2: Remember our interview with the new Speaker of the House,

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Speaker 2: Speaker Johnson will be tonight at nine exclusively on Hannity

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Speaker 2: on the Fox News Channel. I hope you'll be watching.

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Speaker 2: Quick reminder Michael Lindell. He's always looking for great ways

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Speaker 2: They're not as absorbent as they were. Well, that's not

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Speaker 2: one nine six zero nine zero and guess what you

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Speaker 2: won't regret it mention my name Hannity. All right, let's

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Speaker 2: go to Joe Biden requesting funding. He wants to tie

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Speaker 2: it all together, Ukraine, Israel, the border and everything in between.

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Speaker 2: Republicans in the House seem pretty set, and I'll know

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Speaker 2: more tonight after interview the news Speaker of the House.

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Speaker 2: They would like to vote on these appropriations individually. Anyway,

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Speaker 2: here's Biden requesting more funds.

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Speaker 5: Or I'm going to send to Congress an urgent budget request.

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Speaker 5: The fund America's national security needs to support our critical partners,

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Speaker 5: including Israel and Ukraine. It's a smart investment that's going

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Speaker 5: to pay dividends for American security for generations. Help us

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Speaker 5: keep American troops out of harm's way, help us build

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Speaker 5: a world that is safer, more peaceful, and more prosperous

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Speaker 5: for our children and grandchildren.

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Speaker 2: Then we've got Janet yelling out there. Did she do?

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Speaker 1: Linda?

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Speaker 2: Am I right? Did I reach? He did? Magic mushrooms

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Speaker 2: in China?

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Speaker 3: You did not know.

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Speaker 2: They were magic? Sewan? Okay, is an honest mistake, and

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Speaker 2: she kind of liked them, right, She said she likes

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Speaker 2: magic mushrooms. You were Janet yelling. I think any sort

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Speaker 2: of excitement would be welcomed. Okay, there you go. She

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Speaker 2: absolutely is saying the US can finance Israel and Ukraine

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Speaker 2: wars at the same time. Oh, isn't that great considering

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Speaker 2: she gave US two trillion and new debt last year.

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Speaker 6: Here's her in terms of what this all means. Pulled

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Speaker 6: you to Jones, the famed investor, was on CNBC this

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Speaker 6: week and he said, this is the most threatening and

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Speaker 6: challenging geopolitical environment that I've ever seen. At the same time,

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Speaker 6: the US is in its weakest fiscal position since World

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Speaker 6: War Two, with debt to GDP one hundred and twenty

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Speaker 6: two percent. America, can the West afford another war at

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Speaker 6: this time?

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Speaker 7: I think the answer is absolutely. America can certainly afford

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Speaker 7: to stand with Israel and to support Israel's military needs.

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Speaker 7: And we also can and must support Ukraine in its

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Speaker 7: struggle against Russia. And look, the American economy is doing

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Speaker 7: extremely well anyway.

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Speaker 2: Joining us now with analysis of the economy in general,

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Speaker 2: especially in light of the giddy reaction and response to

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Speaker 2: the GDP number today by the mob the media. Steve

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Speaker 2: Moore economists, author of the bestseller Trumponomics, They're not calling

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Speaker 2: it bidens anymore, although maybe today they will. For a

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Speaker 2: couple hours EJ and TONI is the Research Bellow Regional

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Speaker 2: Economic Center for Data Analysis. Okay, everywhere I look, I

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Speaker 2: see nothing but economic hardship and difficulty for people. I

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Speaker 2: see a home building industry that has come to a

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Speaker 2: screeching halt, sales of pre existing homes at next to zero.

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Speaker 2: We have an eight percent now average in terms of

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Speaker 2: the thirty year fixed rate mortgage. We have more people

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Speaker 2: defaulting on car loans, and we have thirty percent credit

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Speaker 2: card charges. And some Americans now because of Biden inflation,

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Speaker 2: Steve Moore, they're putting bare necessities on their credit cards.

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Speaker 2: Who could pay that kind of debt?

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Speaker 8: Yeah, sean, great to be with you. And by the way,

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Speaker 8: that's exactly what this new report that just came out today.

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Speaker 8: And by the way, four point nine percent growth is

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Speaker 8: a good strong number. But when you look underneath the numbers,

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Speaker 8: what you find is two things. Number One, government was

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Speaker 8: one of the biggest components of it. Maybe we should

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Speaker 8: call it government domestic product rather than gross domestic product,

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Speaker 8: because that was the driver, the driver of the growth

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Speaker 8: and I'm using growth in their quotes. Was government spending

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Speaker 8: trillions of dollars of it? And government debt trillions of

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Speaker 8: dollars of it. But also consumers went into debt in

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Speaker 8: the last quarter, so consumer spending stayed very high, Sean,

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Speaker 8: But how did they afford to do it? Consumers went

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Speaker 8: further into that and as you reported, credit card debt

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Speaker 8: now is one trillion dollars for the first time ever.

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Speaker 8: This feels like a balloon to me that's about to pop.

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Speaker 2: Okay, let's get your take EJ.

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Speaker 1: Well, Sean, I.

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Speaker 9: Think what Steve was saying is absolutely correct, and these

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Speaker 9: are the types of reports that really show you who

436
00:21:32,800 --> 00:21:34,959
Speaker 9: are just the talking heads on TV and who are

437
00:21:35,000 --> 00:21:37,399
Speaker 9: the people who can actually read these numbers and figure

438
00:21:37,440 --> 00:21:40,719
Speaker 9: out what they mean. Steve's absolutely right. The consumer is

439
00:21:40,760 --> 00:21:43,720
Speaker 9: going into debt, and very quickly. In fact, if you

440
00:21:43,800 --> 00:21:47,240
Speaker 9: look at a disposable personal income and you just adjust

441
00:21:47,280 --> 00:21:50,160
Speaker 9: for inflation, you find that we are now not only

442
00:21:50,160 --> 00:21:51,959
Speaker 9: did it drop in the last report, but we are

443
00:21:52,040 --> 00:21:56,040
Speaker 9: down one point six trillion dollars compared to the first

444
00:21:56,160 --> 00:21:59,040
Speaker 9: quarter of twenty twenty one. So all of this additional

445
00:21:59,080 --> 00:22:02,399
Speaker 9: spending by consents us is a depletion of savings and

446
00:22:02,440 --> 00:22:05,199
Speaker 9: an increase of debt, and it explains all of the

447
00:22:05,240 --> 00:22:08,800
Speaker 9: debt figures that you just mentioned, especially that trillion dollars

448
00:22:09,160 --> 00:22:12,679
Speaker 9: in credit card debt. And again Steve's absolutely right on

449
00:22:12,760 --> 00:22:15,679
Speaker 9: how fast government is growing and fast in fact, government

450
00:22:15,760 --> 00:22:19,679
Speaker 9: has actually grown faster than consumer spending in the last

451
00:22:19,720 --> 00:22:23,879
Speaker 9: five quarters. And it's again it's driven by debt. Just

452
00:22:24,000 --> 00:22:27,800
Speaker 9: in the first few weeks of October alone, the treasury

453
00:22:27,840 --> 00:22:30,240
Speaker 9: has borrowed half a trillion dollars. It is going to

454
00:22:30,280 --> 00:22:33,440
Speaker 9: be a miracle if we only borrowed two trillion by

455
00:22:33,440 --> 00:22:34,880
Speaker 9: the time this fiscal year is over.

456
00:22:35,600 --> 00:22:38,639
Speaker 2: But they added two trillion last year. We're at thirty

457
00:22:38,720 --> 00:22:42,640
Speaker 2: three and a half trillion dollars in debt. Steve Moore,

458
00:22:43,160 --> 00:22:46,120
Speaker 2: you know, extrapolate that out with higher interest rates that

459
00:22:46,160 --> 00:22:49,000
Speaker 2: our government is going to have to pay. And I

460
00:22:49,040 --> 00:22:51,879
Speaker 2: have no confidence in the future of this economy now,

461
00:22:52,280 --> 00:22:56,040
Speaker 2: with inflation likely wearing it's an ugly head. And one

462
00:22:56,080 --> 00:22:58,720
Speaker 2: thing I didn't mention it is gas prices. Now, energy

463
00:22:58,760 --> 00:23:04,200
Speaker 2: prices are soaring once again, I begin to think, oh, well,

464
00:23:04,880 --> 00:23:07,800
Speaker 2: it's certainly not showing up in this GDP number today.

465
00:23:07,800 --> 00:23:10,720
Speaker 2: But with that said, it's going to be showing up soon.

466
00:23:11,320 --> 00:23:13,600
Speaker 2: And that's where I think the bubble effect comes in.

467
00:23:13,640 --> 00:23:15,119
Speaker 2: And this is going to be a bad one.

468
00:23:15,600 --> 00:23:18,159
Speaker 8: And you know who agrees with us, to the American people.

469
00:23:18,440 --> 00:23:21,080
Speaker 8: Every poll SEAN that has been done over the last

470
00:23:21,119 --> 00:23:24,640
Speaker 8: two years, everyone, whether there's a Fox poll, an MSNBC poll,

471
00:23:24,720 --> 00:23:28,720
Speaker 8: a Gallup poll, everyone shows that Americans steal two things.

472
00:23:28,880 --> 00:23:31,680
Speaker 8: Number one, seventy percent of Americans think the economy is

473
00:23:31,720 --> 00:23:34,280
Speaker 8: headed in the wrong direction, and they're right. And the

474
00:23:34,320 --> 00:23:36,520
Speaker 8: second thing that the voters are telling us is that

475
00:23:36,600 --> 00:23:40,080
Speaker 8: their own personal finances are worse off today than they

476
00:23:40,080 --> 00:23:43,240
Speaker 8: were when Trump was president. Is just as EJ was saying,

477
00:23:43,600 --> 00:23:46,280
Speaker 8: this is one of the reasons that I feel very

478
00:23:46,320 --> 00:23:47,960
Speaker 8: strongly about the SEAN. And I haven't talked to you

479
00:23:48,040 --> 00:23:51,000
Speaker 8: about it before. But if they're going to provide by

480
00:23:51,320 --> 00:23:53,040
Speaker 8: how dear he say, oh, we're just going to spend

481
00:23:53,040 --> 00:23:55,440
Speaker 8: another one hundred billion dollars in all these aid programs?

482
00:23:55,640 --> 00:23:58,880
Speaker 8: Come on, does he think that we have completely unlimited

483
00:23:59,080 --> 00:23:59,800
Speaker 8: federal credit?

484
00:24:00,160 --> 00:24:02,640
Speaker 2: By the way, just so people understand what Steve's talking about,

485
00:24:02,680 --> 00:24:04,919
Speaker 2: He's talking about one hundred million dollars he wants to

486
00:24:04,960 --> 00:24:09,520
Speaker 2: give to the Palestinians. And I can promise you that

487
00:24:09,520 --> 00:24:11,159
Speaker 2: that money is not going to end up in the

488
00:24:11,160 --> 00:24:15,640
Speaker 2: hands of the Palestinians. But Hamas that controls Gaza well exactly.

489
00:24:15,680 --> 00:24:17,720
Speaker 8: And my point is, and I know people have different

490
00:24:17,720 --> 00:24:19,960
Speaker 8: opinions about whether we should or shouldn't spend this money,

491
00:24:19,960 --> 00:24:22,800
Speaker 8: but if we do, Sean, I think two conditions need

492
00:24:22,840 --> 00:24:25,480
Speaker 8: to be attached. Number One, every single penny of that

493
00:24:25,600 --> 00:24:29,440
Speaker 8: spending ship he'd be paid for by cutting other different spending.

494
00:24:29,480 --> 00:24:31,640
Speaker 8: How about taking out of the three hundred billion dollars

495
00:24:31,680 --> 00:24:34,560
Speaker 8: green energy slash pok Number two, a condition of all

496
00:24:34,600 --> 00:24:37,439
Speaker 8: this aid to help you know the Ukrainians and help Israel,

497
00:24:37,800 --> 00:24:41,800
Speaker 8: let's produce more oil and gas here at home.

498
00:24:42,800 --> 00:24:44,600
Speaker 2: Well, I think that gets us out of a whole

499
00:24:44,640 --> 00:24:48,520
Speaker 2: host of problems. To me ej Antoni, if I had

500
00:24:49,359 --> 00:24:51,880
Speaker 2: five minutes to be president one day, which we all

501
00:24:51,920 --> 00:24:53,960
Speaker 2: know would never happen, but if I had just five minutes,

502
00:24:54,040 --> 00:24:56,600
Speaker 2: right the one thing that I had, two things I

503
00:24:56,600 --> 00:24:59,879
Speaker 2: would do immediately is I'd secure our borders and I

504
00:25:00,000 --> 00:25:04,399
Speaker 2: I would have an energy dominant America will be the

505
00:25:04,400 --> 00:25:07,280
Speaker 2: most energy dominant rich country on the face of the earth.

506
00:25:07,600 --> 00:25:11,119
Speaker 2: And that means mass production of oil, gas, and coal.

507
00:25:12,040 --> 00:25:15,280
Speaker 2: Way beyond energy and dependence, but energy dominance where we

508
00:25:15,320 --> 00:25:19,720
Speaker 2: could provide our allies with their needs and make money

509
00:25:19,720 --> 00:25:21,960
Speaker 2: at the same time and pay down our debt and

510
00:25:22,119 --> 00:25:24,040
Speaker 2: stop robbing from our kids and our grandkids.

511
00:25:24,280 --> 00:25:27,600
Speaker 9: Oh, Sean, it's such a great point because energy today

512
00:25:27,760 --> 00:25:31,400
Speaker 9: is not simply an economic issue. It's a national security issue.

513
00:25:31,480 --> 00:25:34,119
Speaker 9: And this was one of the great things that happened

514
00:25:34,160 --> 00:25:38,600
Speaker 9: during the Trump administration where we became not just energy independent,

515
00:25:38,680 --> 00:25:41,919
Speaker 9: but energy dominant, where we actually had an ability to

516
00:25:42,160 --> 00:25:45,800
Speaker 9: influence energy prices around the world, and that helped keep

517
00:25:45,840 --> 00:25:48,399
Speaker 9: a lot of bad actors, whether it was Iran or

518
00:25:48,480 --> 00:25:52,040
Speaker 9: China or Russia or others. It helped keep those countries

519
00:25:52,119 --> 00:25:55,199
Speaker 9: in check. But today we have exactly the opposite. We

520
00:25:55,240 --> 00:25:58,639
Speaker 9: have a strategic petroleum reserve that has basically been drained

521
00:25:58,680 --> 00:25:59,480
Speaker 9: halfway down.

522
00:26:00,520 --> 00:26:04,200
Speaker 2: We have less than seventeen days worth of supply. I mean,

523
00:26:04,720 --> 00:26:07,480
Speaker 2: this was supposed to be for emergencies, and they ended

524
00:26:07,560 --> 00:26:10,840
Speaker 2: up dumping a lot of this oil in our reserves

525
00:26:10,840 --> 00:26:13,879
Speaker 2: on the market before the twenty twenty two elections to

526
00:26:14,000 --> 00:26:17,080
Speaker 2: artificially drive down the price of a gallon of gasoline,

527
00:26:17,240 --> 00:26:19,560
Speaker 2: so people would think, oh, the gas crisis is over.

528
00:26:20,359 --> 00:26:22,720
Speaker 2: That's not an emergency to me, that's politics to.

529
00:26:22,680 --> 00:26:26,840
Speaker 9: Me, right, And who benefited the most from that besides

530
00:26:26,880 --> 00:26:30,240
Speaker 9: obviously the Democrats, it was China, because it turns out

531
00:26:30,240 --> 00:26:32,480
Speaker 9: that a lot of that oil that we dumped went

532
00:26:32,600 --> 00:26:35,320
Speaker 9: and ended up getting sold to the Chinese, to the

533
00:26:35,440 --> 00:26:38,480
Speaker 9: Chinese Communist Party. And so now what are we seeing. Well,

534
00:26:38,600 --> 00:26:41,000
Speaker 9: now we don't have that available for when we have

535
00:26:41,119 --> 00:26:43,119
Speaker 9: problems like we see today in the Middle East, for

536
00:26:43,160 --> 00:26:45,200
Speaker 9: when there's unrest around the world, and when there are

537
00:26:45,200 --> 00:26:48,560
Speaker 9: disruptions in oil markets. So now we are subject to

538
00:26:48,600 --> 00:26:51,160
Speaker 9: the whims of all these bad actors around the world.

539
00:26:51,240 --> 00:26:53,480
Speaker 9: But I do want to say, Sean, we actually are

540
00:26:53,560 --> 00:26:57,479
Speaker 9: seeing some of the current inflation appear in today's report.

541
00:26:57,800 --> 00:27:00,320
Speaker 9: In fact, the price index for GDP, which is a

542
00:27:00,359 --> 00:27:03,359
Speaker 9: little different than the consumer price index, but that price

543
00:27:03,359 --> 00:27:05,720
Speaker 9: index actually more than doubled. It went from one point

544
00:27:05,720 --> 00:27:10,040
Speaker 9: seven percent to three point five percent. For context, before

545
00:27:10,119 --> 00:27:13,080
Speaker 9: the pandemic. That would be the highest rate since two

546
00:27:13,119 --> 00:27:13,840
Speaker 9: thousand and seven.

547
00:27:14,359 --> 00:27:17,280
Speaker 2: All right, quick break more on the economy with Steve Moore,

548
00:27:17,440 --> 00:27:20,159
Speaker 2: EJ and Tony straight ahead. We'll also get to your

549
00:27:20,200 --> 00:27:22,720
Speaker 2: calls next hour eight hundred and ninety four one. Sean,

550
00:27:22,800 --> 00:27:24,000
Speaker 2: if you want to be a part of the program,

551
00:27:24,080 --> 00:27:26,880
Speaker 2: my friend Congressman Chip Roy of Texas will be here.

552
00:27:27,440 --> 00:27:30,040
Speaker 2: We'll check in with him. He worked very closely with

553
00:27:30,119 --> 00:27:33,159
Speaker 2: Byron Donalds, who we had on earlier in terms of

554
00:27:33,600 --> 00:27:38,480
Speaker 2: how to structure any continuing resolution going forward, So we'll

555
00:27:38,480 --> 00:27:42,040
Speaker 2: get into that. I would continue now on the economy

556
00:27:42,160 --> 00:27:45,800
Speaker 2: with Steve Moore and ej Antoni. Let me ask you

557
00:27:45,880 --> 00:27:49,359
Speaker 2: both about interest rates because I know a lot of people.

558
00:27:49,359 --> 00:27:51,840
Speaker 2: I was talking to somebody yesterday who works for me.

559
00:27:52,200 --> 00:27:55,240
Speaker 2: They locked in at a thirty year fixed rate mortgage

560
00:27:55,280 --> 00:27:58,159
Speaker 2: at two point seven percent. I don't know what the

561
00:27:58,240 --> 00:28:01,360
Speaker 2: lowest number was, but two point seven is pretty near

562
00:28:01,400 --> 00:28:04,040
Speaker 2: the low Steve, is that about right? It's maybe he

563
00:28:04,119 --> 00:28:05,000
Speaker 2: got to two five.

564
00:28:05,640 --> 00:28:08,440
Speaker 8: Yeah, that was probably pretty close to the very lowest, right,

565
00:28:09,040 --> 00:28:10,920
Speaker 8: you know the good time and by.

566
00:28:10,840 --> 00:28:15,480
Speaker 2: The way, which back then, right, So now they're looking

567
00:28:15,520 --> 00:28:18,000
Speaker 2: at the price of a thirty year fixed rate mortgage.

568
00:28:18,960 --> 00:28:23,400
Speaker 2: For them to buy a similar house would cost them

569
00:28:23,520 --> 00:28:27,359
Speaker 2: thousands and thousands of dollars more a month, and and

570
00:28:27,440 --> 00:28:30,520
Speaker 2: that would also mean which which means they're kind of

571
00:28:30,560 --> 00:28:33,520
Speaker 2: locked into where they are, and hence that's going to

572
00:28:33,720 --> 00:28:37,879
Speaker 2: stifle new home construction. That'll end sale of pre existing homes.

573
00:28:37,920 --> 00:28:40,920
Speaker 2: Nobody's gonna want to give up their two point seven

574
00:28:41,040 --> 00:28:45,640
Speaker 2: or three or three five, even four four point zero

575
00:28:46,160 --> 00:28:48,600
Speaker 2: thirty year interest rate. They're just not going to do

576
00:28:48,640 --> 00:28:50,960
Speaker 2: it fixed rate. They're not going to do it. And

577
00:28:51,000 --> 00:28:53,040
Speaker 2: as a result of that, what does that mean? The

578
00:28:53,080 --> 00:28:55,840
Speaker 2: housing market is dead? For how long? And do you

579
00:28:55,880 --> 00:28:57,880
Speaker 2: think interest rates are still going to go higher?

580
00:28:58,440 --> 00:28:58,640
Speaker 1: Yeah?

581
00:28:58,640 --> 00:29:01,480
Speaker 8: I'm really worried about the housing market right now. You know,

582
00:29:01,560 --> 00:29:03,760
Speaker 8: we've had a big bull market in housing for sure

583
00:29:03,840 --> 00:29:07,200
Speaker 8: for the last ten years, but right now, you're right.

584
00:29:07,440 --> 00:29:10,280
Speaker 8: The average mortgage payment when Trump was president for a

585
00:29:10,320 --> 00:29:13,880
Speaker 8: meeting home was about seventeen hundred dollars per month. Now

586
00:29:13,920 --> 00:29:16,240
Speaker 8: it's thirty five hundred dollars a month. So, by the way,

587
00:29:16,240 --> 00:29:19,000
Speaker 8: I don't think that's included in these inflation numbers. It

588
00:29:19,080 --> 00:29:21,000
Speaker 8: might be EJ may know the answer to that, but

589
00:29:21,120 --> 00:29:24,120
Speaker 8: you've got a doubling. And so what that means is

590
00:29:24,160 --> 00:29:26,680
Speaker 8: that people can are having a much much harder time

591
00:29:26,880 --> 00:29:29,840
Speaker 8: affording a house. The American dream is your dream of

592
00:29:29,880 --> 00:29:32,080
Speaker 8: buying a house, and it's out of reach for a

593
00:29:32,120 --> 00:29:36,880
Speaker 8: lot of people. The mortgage applications that just for the

594
00:29:36,920 --> 00:29:40,400
Speaker 8: past month, according to Bloomberg, the lowest number of new

595
00:29:40,440 --> 00:29:43,840
Speaker 8: mortgage applications in fifteen years.

596
00:29:44,160 --> 00:29:46,960
Speaker 2: I saw a tweet that you put out on X

597
00:29:47,760 --> 00:29:51,440
Speaker 2: when and when interest takes over, that the US government

598
00:29:51,480 --> 00:29:55,520
Speaker 2: will start spending more on interest than defense starting this year.

599
00:29:55,960 --> 00:29:59,120
Speaker 2: I couldn't believe that that graph you put up, it's

600
00:29:59,160 --> 00:29:59,840
Speaker 2: the scariest.

601
00:30:00,200 --> 00:30:02,200
Speaker 8: And you know, you don't get any roads, you don't

602
00:30:02,240 --> 00:30:04,400
Speaker 8: get hospitals, you don't fit at schools, you don't get

603
00:30:04,520 --> 00:30:07,040
Speaker 8: national defense for interest on the doubt, you're just paying

604
00:30:07,080 --> 00:30:10,240
Speaker 8: for your own mistakes. And hero Is Biden say, hey,

605
00:30:10,360 --> 00:30:13,240
Speaker 8: let's just go out and borrow another one hundred billion dollars.

606
00:30:13,120 --> 00:30:16,000
Speaker 2: Now, And EJ, you put out a tweet on X

607
00:30:16,440 --> 00:30:19,760
Speaker 2: here's a plain English thread on the latest GDP numbers

608
00:30:19,760 --> 00:30:23,800
Speaker 2: and why this is totally unsustainable and yeah, oh yeah,

609
00:30:23,840 --> 00:30:27,680
Speaker 2: and inflation's not dead. Interpret that for the average person

610
00:30:28,240 --> 00:30:30,440
Speaker 2: that is struggling to make ends meet, which is the

611
00:30:30,480 --> 00:30:31,840
Speaker 2: majority of the American people.

612
00:30:32,040 --> 00:30:35,160
Speaker 9: Well, Sean would a lot of those people who are struggling,

613
00:30:35,160 --> 00:30:37,360
Speaker 9: as you said, to make ends meet, what they're facing

614
00:30:37,480 --> 00:30:40,960
Speaker 9: right now is something that's just completely unsustainable. They are

615
00:30:41,000 --> 00:30:44,120
Speaker 9: having to use credit cards in order to buy food,

616
00:30:44,480 --> 00:30:47,400
Speaker 9: and they're seeing their credit card balances grow even as

617
00:30:47,440 --> 00:30:50,680
Speaker 9: those the interest rates on those credit cards hit record highs,

618
00:30:50,720 --> 00:30:54,200
Speaker 9: and they're getting crushed by financing charges. People literally are

619
00:30:54,240 --> 00:30:58,360
Speaker 9: taking second or third jobs today just to try to

620
00:30:58,400 --> 00:31:00,760
Speaker 9: make ends meet. We're talking abouts cities here, We're not

621
00:31:00,840 --> 00:31:04,160
Speaker 9: talking about yachts and caviare. So I think the American

622
00:31:04,200 --> 00:31:08,080
Speaker 9: people are already feeling what this report today shows us,

623
00:31:08,120 --> 00:31:12,320
Speaker 9: which is that these these economic numbers are simply not sustainable.

624
00:31:12,560 --> 00:31:17,120
Speaker 9: Now to Steve's question on whether housing is included in

625
00:31:17,120 --> 00:31:20,480
Speaker 9: these inflation numbers. You know the CPI, the consumer price

626
00:31:20,480 --> 00:31:22,800
Speaker 9: index that doesn't look at the cost of owning a

627
00:31:22,800 --> 00:31:25,280
Speaker 9: home because that's considered an investment. They only look at

628
00:31:25,280 --> 00:31:27,720
Speaker 9: the cost of renting. Well, guess what, the cost of

629
00:31:27,760 --> 00:31:31,800
Speaker 9: owning a home today has never been more expensive relative

630
00:31:31,920 --> 00:31:34,520
Speaker 9: to renting, and so although renting is at a record high,

631
00:31:34,680 --> 00:31:37,920
Speaker 9: the cost of home ownership is blowing that away. So

632
00:31:38,320 --> 00:31:41,520
Speaker 9: you are absolutely right that the cost here that the

633
00:31:41,520 --> 00:31:44,560
Speaker 9: American people are facing is far more than what these

634
00:31:44,560 --> 00:31:45,960
Speaker 9: headline numbers lead.

635
00:31:45,840 --> 00:31:46,480
Speaker 1: Us to believe.

636
00:31:47,160 --> 00:31:48,880
Speaker 2: All right, I appreciate it. I wish I had better

637
00:31:48,920 --> 00:31:51,720
Speaker 2: news on the economy for this audience. Unfortunately I do not,

638
00:31:52,080 --> 00:31:54,880
Speaker 2: but it is what it is. We appreciate both of

639
00:31:54,920 --> 00:31:58,360
Speaker 2: you being one of those Steve Moore and ej Antoni

640
00:31:58,400 --> 00:31:59,080
Speaker 2: appreciate it.