MARIA: WELCOME BACK INFLATION
MOVING MARKETS AUGUST PRODUCER
PRICE INDEX OFF 8.7%
YEAR-OVER-YEAR BELOW 8.8%
JOINING US RIGHT NOW MIKE
BRAUN A MEMBER OF THE SENATE
BUDGET APPROPRIATIONS
COMMITTEES SENATOR GOOD TO SEE
YOU.
THANKS VERY MUCH FOR BEING
HERE WHAT IS THIS INFLATION
REPORT HE MAINTAIN TO YOU.
>> NUMBER ONE, MARIA I LOOK AT
HOW THIS WORKS, IN THE LONG
TERM I HEARD YOU TALKING
EARLIER ABOUT HOW MARKETS ARE
GOING TO REACT, 30 TRILLION
DOLLARS IN DEBT, ONE POINT
RISE IN INTEREST IS 300
BILLION DOLLARS WORTH MORE
INTEREST FOR THIS PLACE, THERE
IS NO BUDGETING NO
APPROPRIATING THAT ALL OF US
PARTICIPATE IN, SO IT IS GOING
TO BE BAD FOR THE FEDERAL
GOVERNMENT MORE THAN ANYTHING,
AN BIDEN WAS BRAGGING ABOUT
EVERYTHING JUST YESTERDAY.
THAT WAS BAD TIMING I KNOW HOW
ANYTHING COULD BE WORSE WHEN
MARKETS TICKING DOWN ON THE
OTHER SIDE, SO --
>> THE MARKET WAS REACTING TO
THE HOTTER THAN EXPECTED
INFLATION NUMBER, BUT YOU JUST
MENTIONED DEBT, THE COMMITTEE
FOR RESPONSIBLE BUDGETS SAYS
ADMINISTRATION ADDED NEARLY
FIVE TRILLION DOLLARS TO
DEFICITS NEXT DECADE, HE SAYS
THAT STOCK MARKET SELLING OFF
DOESN’T REALLY MATTER, HE WAS
TAKING A VICTORY LAP A
TONE-DEAF VICTORY LAP I AGREE
CELEBRATING SO-CALLED
INFLATION REDUCTION ACT A BIT
OF THAT YESTERDAY, WATCH.
>> THIS BILL ALONE IS GOING TO
LOWER THE DEFICIT BY THREE
HUNDRED BILLION DOLLARS OVER
THE NEXT DECADE THIS BILL CUT
COSTS FOR FAMILIES.
HELP REDUCED INFLATION AT THE
KITCHEN TABLE BECAUSE THAT IS
WHAT THEY LOOK AT HOW MUCH
MONTHLY BILLS HOW MUCH DO THEY
HAVE TO PAY OUT NOR
NECESSITIES.
MARIA: SAYS REAL, SENATOR,
YOUR REACTION.
>> SO WHATTE AMAZES ME THE
POLITICAL ENTERPRISE BY NATURE
TRY TO SELL SOMETHING THAT
OBVIOUSLY, IS NOT THE CASE.
I MEAN THEY COULD NOT HAVE
BEEN MORE EMBARRASSED BY THE
FACT THEY WERE SAYING THAT IN
MARKET TANKSED THE WAY IT DID
YESTERDAY.
THIS IS ALL NOT JUST A
BELLWETHER IT IS -- SOMETHING
THAT WE’RE GOING TO DEAL WITH
LOOK BACK 81 HERE LAST FIVE
YEARS FOR VOLCKER TO GET
ELEVATION FROM WHERE IT IS
BASICALLY NOW DOWN TO 2%,
COMPARE THAT TO THE ECONOMY WE
HAVE PRE-COVID, THEY OUGHT HE
TO BE BOOTED OUT OF OFFICE
TAKING ONE OF THE BEST
ECONOMIES WE EVER HAD THROUGH
COVID SHUTTING PRODUCTIVE SIDE
OF THE ECONOMY DOWN CREATING
ALL THE GENESIS FOR WHAT WE’RE
DEALING WITH NOW THEN TRYING
TO SPIN IT OTHERWISE, I MEAN
THAT IS CRAZY.
MARIA: YOU WOULD THINK THIS
IS RESONATING ON PEOPLE, YET
THERE IS A -- A REAL TIGHT
RACE IN THE SENATE, GOING INTO
THE NOVEMBER ELECTIONS, WHY?
>> I THINK BECAUSE, WE ON THE
OTHER SIDE OF THE AISLE ARE A
LITTLE RETICENT ABOUT MAKING
THE CASE IF WE CAN’T
ARTICULATE THIS POLITICAL GOOD
NEWS NOT ONLY HOUSE I THINK
WIRE GOING TO GET WE NEED TO
GO TO SOME TYPE OF REMEDIATION
SCHOOL HOW WE COMMUNICATE THIS
SHOULD BE SLAM-DUNK ALL ON
THEIR BACK HERE THEY ARE
BRANDS ABOUT IT EVEN HAVING
SOMEBODY COME IN SING
OPERATIONS ABOUT WHOLE THING.
I MEAN IT IS LUD CREWS, I
CAN’T YOUR TAKE ON JOE MANCHIN
CHUCK SCHUMER BILL ARE THEY
GOING BAN ON PROMISES IN TERMS
OF ENERGY, IN MANCHIN’S STATE?
WHERE DOES THAT STAND?
IS IT -- IS IT HAPPENING THAT
WE’RE GOING TO SEE 80 BILLION
DOLLARS GO TO IRS, 87,000 NEW
IRS AGENTS WILL THIS PLAY OUT?
OR CAN YOU AND COLLEAGUES STOP
IT?
>> SADLY THAT WILL PLAY OUT,
BECAUSE WE CAN’T STOP IT THAT
IS ALREADY FORWARD MOMENTUM
UNTIL WE WIN BACK ONE CHAMBER,
THIS NOVEMBER PUTS A TORNIQUET
ON CRAZINESS LIKE THAT WE HAVE
TO DEAL WITH IT THAT COULD BE
TAKEN TO COURT BECAUSE
EXECUTIVE ORDER, MAYBE -- IN
SOME OTHER STUFF STUDENT LOANS
FOR INSTANCE THAT IS
INFLATIONARY THAT IS PART OF
THE LAW I DON’T KNOW HOW THAT
IS GOING TO PLAY OUT WE ARE
BORROWING THE MONEY TO PAY
FIRE IT NEEDS ALTHOUGH THING
WE LITIGATE EXPLAIN, WHY IT
DOESN’T MAKE SENSE.
THAT IS THE PART WE’VE GOT TO
DO BETTER.
MARIA: YOUR TRYING TO FUND
GOVERNMENT RIGHT NOW THE THE
HOUSE AND SENATE LEADERS
WORKING ON LEGISLATION TO FUND
THE GOVERNMENT PAST SEPTEMBER
30 LIKELY UNTIL MID-DECEMBER,
THE WHITE HOUSE REQUESTING
EXTRA 47 BILLION DOLLARS, IN
EMERGENCY FUNDING FOR COVID,
MONKEYPOX IN UKRAINE, WILL YOU
BE ABLE TO DO IT WHAT DOES
NEXT FEW WEEKS LOOK LIKE.
CR A POLITICAL FOOTBALL
BECAUSE WE DO NOT DO ANY
BUDGETING REMEMBER LAST YEAR
WE DIDN’T GET THE JOB DONE
UNTIL FEBRUARY.
FOR THE YEAR-ENDED IN
SEPTEMBER THE YEAR BEFORE.
SO, THAT DYSFUNCTION
CONTINUING FORWARD I AM ON
BUDGET COMMITTEE BERNIE
SANDERS IS CHAIR WE’VE NOT
DONE ONE MEETING ON MECHANICS
OF BUDGETING, THIS FALLS ON
OUR LAP WITH PEOPLE BEHIND
CLOSED DOORS, DROPPING IT IN,
WHERE A HUGE BILL, WITH A DAY
OR TWO TO SIZE IT UP, THAT
WILL HAPPEN AGAIN, MARIA IT IS
ALL PART OF WHERE THIS PLACE
IS HEADED ALONG 30 TRILLION IN
DEBT.
BIDEN HAD GALL TO PUT A BUDGET
OUT THERE 45 BILLION.
>> THIS IS NOT ENCOURAGING IT
IS QUITE YOU DISTURBING
ANYTHING ELSE WOULD YOU LIKE
TO SAY IN MATERIALS OF WHERE
ERIC AMERICA IS HEADED.
>> YOU STILL HAVE EACH STATE
YOU GO BACK TO THAT YOU
REPRESENT INDIANA BALANCE
BUDGETS RAINY DAY FUND MAYBE