>> President Biden: WASH DOGS
ARE BACK.
MY MESSAGE TO THOSE CHEATS OUT
THERE IS THIS, YOU CAN’T HIDE.
WE ARE GOING TO FIND YOU.
WE WILL MAKE YOU PAY BACK WHAT
YOU STOLE AND HOLD YOU
ACCOUNTABLE UNDER THE LAW.
>> Dana: PRESIDENT BIDEN
TALKING TOUGH ON FRAUD IN COVID
PANDEMIC RELIEF PROGRAMS.
FEDERAL AGENTS HAVE THEIR WORK
CUT OUT FOR THEM.
GET THIS.
ACCORDING TO THE LABOR
DEPARTMENT THERE ARE 39,000
OPEN INVESTIGATIONS INTO
SUSPECTED UNEMPLOYMENT FRAUD.
1,000% INCREASE FROM
PRE-PANDEMIC LEVELS.
LARRY KUDLOW IS HERE.
PRETTY FRUSTRATING FOR PEOPLE
TO FIND THIS OUT.
CALL FOR NUMBER ONE QUICKLY.
NUMBER OF GOVERNMENT EMPLOYEES
WORKING ON THE SUSPECTED FRAUD
CASES THE LABOR DEPARTMENT HAS
500 WORKERS.
39,000 CASES.
BUSINESS ADMINISTRATION, 50
WORKS FOR 2 MILLION CASES OF
FRAUD, LARRY.
>> GOOD LUCK.
GOOD LUCK ON THAT.
CAN I JUST STEP BACK FOR A
MINUTE?
THESE ARE VERY BAD STORIES.
I ALWAYS THOUGHT THE
UNEMPLOYMENT ASSISTANCE, WHICH
WENT ON AND ON AND ON AND WAS
DONE THROUGH THE STATES, WHICH
HAD NO CAPABILITY OF
ADMINISTERING A COUPLE HUNDRED
BILLION DOLLARS OF UNEMPLOYMENT
ASSISTANCE AND NO WORK
REQUIREMENTS OR NO ANY
REQUIREMENTS.
THAT MONEY WENT TO CHINA,
RUSSIA, ASIA, AFRICA, CRIME
SYNDICATES AND YOU NAME IT?
NOW WHAT WILL THEY DO?
IT WILL BE DIFFICULT TO GET
MUCH OF THIS STUFF BACK.
THE ESTIMATES FROM THE HOUSE
WAYS AND MEANS COMMITTEE ABOUT
160 SOMETHING BILLION DOLLARS
OF FRAUD IN THE UNEMPLOYMENT
COMPENSATION AND UNEMPLOYMENT
ASSISTANCE.
WHAT ARE THEY GOING TO DO
EXACTLY?
THE MORAL OF THE STORY IS DO
NOT SHUT DOWN THE ECONOMY, OKAY?
IT DID NOT WORK.
OKAY?
WE SHUT IT DOWN AT THE VERY
BEGINNING OF THE PANDEMIC IN
MARCH AND APRIL OF 2020.
PROBABLY SHOULD HAVE STOPPED
THEN.
THEN IT WENT ON AND ON FOR
ALMOST TWO YEARS.
THE SHUTDOWNS DIDN’T WORK.
THE STATES THAT STOPPED
SHUTTING DOWN DID BETTER THAN
THE STATES THAT KEPT SHUTTING
DOWN.
THAT’S POINT NUMBER ONE.
POINT NUMBER TWO, DO NOT KEEP
THROWING GOVERNMENT MONEY.
WHATEVER THE INTENTIONS ARE,
THERE IS NO WAY TO MONITOR IT.
FRAUD IS INEVITABLE, CRIME IS
INEVITABLE.
THAT’S THE WAY THE SYSTEM WORKS.
THE GOVERNMENT CAN’T CONTROL
ANY OF THIS STUFF.
BY THE WAY, THE COVID IS OVER,
OR MOSTLY OVER, OKAY?
I DON’T WANT TO GET SLAMMED FOR
THAT.
IT’S BASICALLY OVER.
WE DON’T TEST ANYMORE MUCH.
THE FACT OF THE MATTER IS WE’RE
STILL THROWING MONEY AT IT.
THIS BILL THAT JUST COME DOWN
THE PIPE IS $800 BILLION, THEY
ARE STILL THROWING MONEY AT
THESE SO-CALLED SOCIAL PROBLEMS
WITH NO WORK REQUIREMENTS, WITH
NO WAY OF MONITORING OR
CONTROLLING IT.
>> Bill: ON THAT POINT, THE
TRUMP ADMINISTRATION GAVE OUT 3
TRILLION.
BIDEN 2 TRILLION.
IF YOU WANTED TO CRACK DOWN ON
THIS INSTEAD OF JACKING UP THE
I.R.S. BY 2 TIMES YOU WOULD PUT
THAT MONEY TOWARD THIS PANDEMIC
FRAUD THAT WE’RE DISCUSSING
HERE.
YOU MENTIONED THE I.R.A.
INFLATION REDUCTION ACT.
WHAT’S IN A NAME IS THE
QUESTION.
SOME OF THE ANSWERS ARE
EMERGING THROUGH THE MEDIA.
JUST HAVE A SAMPLE AND LISTEN
TO THIS, LARRY.
>> THEY CALLED IT THE INFLATION
REDUCTION ACT AS A MARKETING
DEVICE.
IN PART TO LOCK DOWN THE VOTE
OF JOE MANCHIN.
>> INFLATION REDUCTION ACT
BASICALLY SPEAKS TO WHAT
EVERYBODY IS CONCERNED WITH
RIGHT NOW.
KITCHEN TABLE ITEMS.
THIS IS MARKETING GENIUS.
>> COMPLETE MARKETING TOOL.
THAT WAS A TITLE THAT SEEMED TO
WORK BETTER THAN BUILD BACK
BETTER.
>> Bill: I GUESS THE TRUTH HAD
TO COME OUT AT SOME POINT,
LARRY.
>> YEAH, LOOK.
NOBODY EVER BELIEVED THIS STUFF.
WE JUST SAW YOU GOT -- 40% --
ACTUALLY A BETTER POLL.
THE TIPS POLL ONE OF THE TOP
THREE POLLS.
40% OF THE PEOPLE BELIEVE THAT
INFLATION IS GOING TO GO UP,
OKAY?
AND SOME TINY NUMBER LIKE 15%
BELIEVE IT IS ACTUALLY GOING TO
GO DOWN.
THAT WAS A FRAUDULENT CLAIM TO
BEGIN WITH.
IT IS NOT GOING TO WORK.
MY FAVORITE THING HERE IS THE
EPA, ENVIRONMENTAL PROTECTION
AGENCY, NOW, KIDS, HAS ITS OWN
BANK, OKAY?
AREN’T YOU HAPPY TO HEAR THAT?
THEY HAVE THEIR OWN BANK TO
HAND OUT MONEY AGAINST FOSSIL
FUELS, TO GET RENEWABLE MONEY.
$27 BILLION BANK INSIDE THE
E.P.A., WHICH HAS -- WAIT FOR
IT -- NO BANKING EXPERIENCE, NO
CREDIT, NO RISK ANALYST, NO
PAYMENTS MECHANISM, NO NOTHING.
$27 BILLION BANK.
I WANT YOU KIDS TO SIGN UP,
DANA PERINO, I NOMINATE YOU FOR
CHAIRMAN OF THE BANK.
STU VARNEY TURNED IT DOWN
YESTERDAY.
YOUR NAME IS AT THE TOP OF THE
LIST.
>> Dana: THANK YOU SO MUCH FOR
BEING HERE WITH US.