>> I THOUGHT IT WAS FASCINATING
THAT SOME OF THE FOLKS WHO WERE
TALKING ABOUT THIS IS BIG
SPENDING ARE THE SAME PEOPLE
THAT GOT $158,000 IN PPP MONEY
AND A WHOLE LOT OF REPUBLICANS
GOT A LOT OF MONEY.
THE VERY PEOPLE CRITICIZING.
>> WHAT REPUBLICANS AND CRITICS
ARE SAYING IS THERE’S A
DIFFERENCE BETWEEN THOSE
DECISIONS BEING VOTED ON BY
CONGRESS AND THOSE LOANS THAT
TURNED INTO GRANTS BEING BY AND
LARGE TO COVER BUSINESSES THAT
WERE SHUT DOWN BY THE GOVERNMENT
INVOLUNTARILY VERSUS STUDENTS
WHO WILLFULLY TOOK OUT THEIR
LOANS AND ARE NOW UNABLE FOR
WHATEVER REASON TO REPAY THEM.
>> WE’RE NOT AGAINST PPP.
WE’RE SUPPORTIVE OF THE IDEA
THAT SMALL BUSINESSES SHOULD GET
RELIEF.
THE POINT IS THAT OVER THE PAST
YEAR WE HAVE BEEN FORGIVING
HUNDREDS OF BILLIONS OF DOLLARS
WORTH OF LOANS TO BUSINESS
OWNERS.
JACKIE: PRESIDENT BIDEN AND THE
WHITE HOUSE TRYING TO SHAME GOP
CRITICS OF THE STUDENT LOAN
BAILOUT BY COMPARING IT TO THE
PANDEMIC PAYCHECK PROTECTION
PROGRAM FOR SMALL BUSINESSES.
THE WHITE HOUSE OFFICIAL TWITTER
ACCOUNT MENTIONING SEVERAL
REPUBLICANS BY NAME, REPUBLICANS
FIRING BACK THAT THE TWO ARE NOT
COMPARABLE.
JOINING ME NOW IS PENNSYLVANIA
CONGRESSMAN DAN MEUSER, A NUMBER
OF THE SMALL BUSINESS COMMITTEE
AND HOUSE FOREIGN AFFAIRS.
THANK YOU FOR JOINING US.
JACKIE MAKES A GREAT POINT WHICH
IS THE GOVERNMENT SHUT THE
COUNTRY DOWN.
THE PAYCHECK PROTECTION PROGRAM
LOANS WERE NOT ONLY NECESSARY
FOR BUSINESSES BUT THEIR
EMPLOYEES AND A EVERYBODY WHO
DEPENDED ON THE UNDERLYING
BUSINESS.
THIS IS VERY DIFFERENT, A
STUDENT TAKING OUT LOANS,
CHOOSING WHAT THEY’LL STUDY IN
SCHOOL, WHETHER OR NOT THEY CAN
RECOUP THAT MONEY IS ANOTHER
STORY.
BUT IT’S VERY DELIBERATE AND
THIS BASICALLY SENDS THE MESSAGE
THAT YOU CAN TAKE OUT LOANS, YOU
CANNOT BE RESPONSIBLE FOR THEM.
THE GOVERNMENT’S GOING TO
BACKSTOP YOU.
>> YEAH.
GOOD MORNING, JACKIE.
GREAT BEING WITH YOU.
THE TWO ARE NOT COMPARABLE.
THE SMALL BUSINESSES WERE SHUT
DOWN.
FOR THE PRESIDENT TO ONCE AGAIN
TRY TO DIVIDE SAYING REPUBLICANS
GOT THOSE FUNDS IN PPP, I WAS
THERE DURING THAT.
IT WAS HIGHLY EQUITABLE, VERY
FAIR BASED UPON A COMPANY’S
NUMBER OF EMPLOYEES AND THEIR
ABILITY OR WILLINGNESS TO RETAIN
THOSE EMPLOYEES WHILE BEING SHUT
DOWN.
THIS LOAN FORGIVENESS NONSENSE,
I MEAN, COMPLETELY UNFAIR.
LET’S FACE IT.
THEY’RE CELEBRATING IN WASH
TONIGHT THEY’RE NOT CELEBRATING
ON MAIN STREET.
THE THING WILLS ESCALATE COST,
IT ADDS TO INFLATION.
JEROME POWELL HAS HIS HANDS FULL
WITH THE SPENDING BILLS.
THERE’S NO FIX HERE.
THEY’RE BAILING THE BOAT, NOT
FIXING THE HOLE IN THE BOTTOM.
WHAT HAPPENS WITH THE LOANS NEXT
YEAR.
WHAT ABOUT THOSE WHO WERE
THINKING ABOUT TAKING OUT LOANS
NEXT YEAR.
WHY WOULD YOU TAKE OUT A LOAN IF
THERE’S A GOOD CHANCE IT WILL BE
FORGIVEN.
IT WILL BE SO DISRUPTIVE TO THE
WHOLE LOAN PLANNING THAT WE
HAVE.
JACKIE: YEAH.
MANY PEOPLE SAY IT’S GOING TO
DRIVE THE COST OF DIVISION DIVIS
AND A THAT’S THE -- DIVISION TUI
THAT’S THE UNDERLYING PROBLEM.
IF YOU WANT TO ADDRESS
INFLATION, YOU WOULD TRY TO WORK
WITH THE UNIVERSITIES TO FIGURE
OUT HOW TO BRING THE COST OF
EDUCATION DOWN.
I WANT TO SWITCH GEARS.
THE WALL STREET JOURNAL
EDITORIAL BOARD PUBLISHING THE
IRS WANTS TO SELL YOU ON ITS
SERVICE, CALLING OUT ITS BACKLOG
OF TAX RETURNS, WRITING
DEMOCRATS HAVE GIVEN THE PUBLIC
LITTLE REASON TO SAY ALL THAT
MONEY WILL YIELD BETTER IRS
SERVICE.
YOU’RE PUSHING A BILL THAT’S
TRYING TO HOLD THE IRS
ACCOUNTABLE FOR THE UNPROCESSED
RETURNS.
TELL US MORE.
>> WELL, I WAS A FORMER REVENUE
SECRETARY IN PENNSYLVANIA AND
HIRING 87,000 NEW AGENTS WHILE
THE PERFORMANCE OF THE CURRENT
DEPARTMENT IS AWFUL, WAY BEHIND,
WHERE A RETURN WOULD BE SIX TO
EIGHT WEEKS, NOW IT’S SIX MONTHS
AND MEANWHILE THEY TELL US 53%
AT LEAST OF THE IRS EMPLOYEES
ARE WORKING REMOTE.
NOT WORKING HYBRID.
WORKING REMOTE.
AND BLAMING IT ON THAT.
SO IT’S REALLY JUST -- LOOK,
THEY’RE ALREADY UNDERPERFORMING.
THE QUALITY OF THE INFORMATION
BY ADDING AGENTS IS NOT GOING TO
IMPROVE.
SO THE ONLY WAY THESE NEW AGENTS
ARE GOING TO DO ANY BETTER IS
THROUGH DRIVE-BYES ON SMALL
BUSINESS.
THE WHOLE THING IS A HOAX WHAT
THEY’RE PRESENTED, JACKIE.
I KNOW YOU’VE GONE OVER IT
BEFORE BUT THE IDEA OF UNDER
$400,000, COMPLETE HOAX.
COMPLETE IMPOSSIBLE, IMPOSSIBLE
TO DO IT THAT WAY.
AFTER THEY CHANGED IT, THEY
DIDN’T CHANGE IT AND SAY IT WAS
GOING TO BE OVER 400,000, THEY
NEVER CHANGED THE PROJECTIONS.
WE’RE STATING BRING THE PEOPLE
BACK, CATCH UP BEFORE WE FUND
ANY OF THIS MOVING FORWARD.
BUT IN THE MEANTIME WE’RE GOING
TO WORK ON REAPPROPRIATING THE
MONSTROUS LEVELS OF FUNDING
WHICH WE SHOULD BE ABLE TO DO
AND QUESTION THE
CONSTITUTIONALITY OF THE
PRESIDENT DOING THIS BY
EXECUTIVE ORDER.
SO THE WHOLE THING IS REALLY A
MESS AND A HOAX ON THE GENERAL
PUBLIC IN MY VIEW.
JACKIE: MAKES A LOT OF SENSE.
WE’LL SEE WHERE IT ALL ENDS UP.
WHILE I HAVE YOU, I ALSO WANT TO
TURN TO THE CHINA THREAT.
IT’S A HUGE ISSUE.
>>> WE FOLLOW IT ON THIS SHOW
CLOSELY.
YOU SAY THERE NEEDS TO BE
INCREASED SCRUTINY OF U.S. LAND
PURCHASES FROM FOREIGN ENTITIES.
TELL US ABOUT THAT.
THE STORIES OF CHINESE -- THE
CHINESE COMING TO THIS COUNTRY,
BUYING FARMLAND FOR EXAMPLE IS
JUST -- IT’S STAGGERING HOW MUCH
CONTROL, SLOWLY AND QUIETLY, THE
CCP GETS.
>> WE HAVE AN OVERVIEWS
PROCESS, THE COMMITTEE ON
FOREIGN INVESTMENT FOR THE
UNITED STATES BUT IT TENDS TO BE
WEAK.
THE AG CULTURE DEPARTMENT AND
DOD AND INTELLIGENCE COMMUNITY
DON’T CARRY ENOUGH WEIGHT.
THE TREASURY TENDS TO OVERRULE.
THE LEVEL OF INVESTMENT IN OUR
AGRICULTURE LANDS AND OUR REAL
ESTATES HAS REALLY BEEN ON THE
UPSWING BY CHINA OVER THE LAST
10 OF10 YEARS.
IT WENT FROM 350,000 ACRES TO 3
AND-A-HALF MILLION OR SO.
SO IT’S REALLY ESCALATED QUITE A
BIT.
I’M NOT SURE IF THE NUMBERS ARE
EXACTLY RIGHT.
IT’S GONE UP BY ABOUT 10 TIMES.
TON SAME NOTE, WE’RE NOT ABOUT
PROHIBITING BY NATIONALITY.
WE DO HAVE CHINESE AMERICANS AND
THAT SORT OF THING.
WE’VE GOT BE VERY CAREFUL.
WE SHOULD HAVE A HIGH LEVEL OF
TRANSPARENCY ON THIS AND A
HIGHER LEVEL OF OVERSIGHT.
THE UNITED STATES MUST LOOK
AFTER OUR BEST INTEREST AS OTHER
COUNTRIES DO AND THERE ARE CASES
WHERE -- THAT ARE SUSPICIOUS,
WHERE LAND IS BEING PURCHASED
NEXT TO AIR BASES AND ALL.
SO IT IS A SERIOUS ISSUE.
PEOPLE TAKE IT VERY SERIOUSLY.
WE NEED TO HAVE A BETTER REVIEW
OF IT.
NO QUESTION.
JACKIE: CONGRESSMAN P DAN CONG