OUR ECONOMY IS BOOMING.
OUR ECONOMY IS BOOMING. NO, REALLY. JUST LOOK AT THE
OUR ECONOMY IS BOOMING. NO, REALLY. JUST LOOK AT THE FIGURES
NO, REALLY. JUST LOOK AT THE FIGURES DESPITE THE ONGOING PANDEMIC,
FIGURES DESPITE THE ONGOING PANDEMIC, OUR ECONOMY, GREW
DESPITE THE ONGOING PANDEMIC, OUR ECONOMY, GREW FIVE POINT SEVEN PERCENT LAST
OUR ECONOMY, GREW FIVE POINT SEVEN PERCENT LAST YEAR. THAT‘S THE FASTEST
FIVE POINT SEVEN PERCENT LAST YEAR. THAT‘S THE FASTEST GROWTH SINCE
YEAR. THAT‘S THE FASTEST GROWTH SINCE 1984
GROWTH SINCE 1984 WAGES, ROSE A RECORD
1984 WAGES, ROSE A RECORD 4.5% IN 2021. WE ADDED A
WAGES, ROSE A RECORD 4.5% IN 2021. WE ADDED A RECORD SIX POINT FOUR MILLION
4.5% IN 2021. WE ADDED A RECORD SIX POINT FOUR MILLION JOBS IN THE MOST RECENT JOBS
RECORD SIX POINT FOUR MILLION JOBS IN THE MOST RECENT JOBS REPORT SHOWS THAT STRONG
JOBS IN THE MOST RECENT JOBS REPORT SHOWS THAT STRONG GROWTH IS CONTINUING THIS
REPORT SHOWS THAT STRONG GROWTH IS CONTINUING THIS YEAR. THE UNEMPLOYMENT
GROWTH IS CONTINUING THIS YEAR. THE UNEMPLOYMENT RATE IS NOW
YEAR. THE UNEMPLOYMENT RATE IS NOW PERCENT THE LOWEST SINCE
RATE IS NOW PERCENT THE LOWEST SINCE THE PANDEMIC BEGAN.
PERCENT THE LOWEST SINCE THE PANDEMIC BEGAN. WE‘RE ACTUALLY AS A COUNTRY AS
THE PANDEMIC BEGAN. WE‘RE ACTUALLY AS A COUNTRY AS A WHOLE DOING PRETTY WELL,
WE‘RE ACTUALLY AS A COUNTRY AS A WHOLE DOING PRETTY WELL, ESPECIALLY COMPARED TO WHERE
A WHOLE DOING PRETTY WELL, ESPECIALLY COMPARED TO WHERE WE WERE NOT SO LONG AGO,
ESPECIALLY COMPARED TO WHERE WE WERE NOT SO LONG AGO, BUT YOU MIGHT NOT KNOW THAT
WE WERE NOT SO LONG AGO, BUT YOU MIGHT NOT KNOW THAT BASED ON THE HEADLINES
BUT YOU MIGHT NOT KNOW THAT BASED ON THE HEADLINES CURRENTLY DON‘T DOMINATING
BASED ON THE HEADLINES CURRENTLY DON‘T DOMINATING ECONOMIC NEWS.
CURRENTLY DON‘T DOMINATING ECONOMIC NEWS. IT‘S ALL ABOUT INFLATION,
ECONOMIC NEWS. IT‘S ALL ABOUT INFLATION, WHICH IS YES, AT A
IT‘S ALL ABOUT INFLATION, WHICH IS YES, AT A 40-YEAR HIGH UP ABOUT
WHICH IS YES, AT A 40-YEAR HIGH UP ABOUT 8 PERCENT FROM LAST FEBRUARY.
40-YEAR HIGH UP ABOUT 8 PERCENT FROM LAST FEBRUARY. EVERYTHING DOES COST MORE
8 PERCENT FROM LAST FEBRUARY. EVERYTHING DOES COST MORE GROCERIES, RENT AND ESPECIALLY
EVERYTHING DOES COST MORE GROCERIES, RENT AND ESPECIALLY GASOLINE, NOW AVERAGING NEARLY
GROCERIES, RENT AND ESPECIALLY GASOLINE, NOW AVERAGING NEARLY $4, 25 CENTS, A GALLON.
GASOLINE, NOW AVERAGING NEARLY $4, 25 CENTS, A GALLON. ACCORDING TO
$4, 25 CENTS, A GALLON. ACCORDING TO TRIPLE-A,
ACCORDING TO TRIPLE-A, AND THOSE WAGE INCREASES. I
TRIPLE-A, AND THOSE WAGE INCREASES. I JUST MENTIONED WELL, THEY‘RE
AND THOSE WAGE INCREASES. I JUST MENTIONED WELL, THEY‘RE NOT KEEPING UP WITH THE HIGHER
JUST MENTIONED WELL, THEY‘RE NOT KEEPING UP WITH THE HIGHER PRICES
NOT KEEPING UP WITH THE HIGHER PRICES AMERICANS ARE FEELING PAIN.
PRICES AMERICANS ARE FEELING PAIN. THAT‘S
AMERICANS ARE FEELING PAIN. THAT‘S OBVIOUS. THAT‘S TRUE.
THAT‘S OBVIOUS. THAT‘S TRUE. AND YOU ADD THAT TO THE
OBVIOUS. THAT‘S TRUE. AND YOU ADD THAT TO THE OBVIOUSLY
AND YOU ADD THAT TO THE OBVIOUSLY PARTIES AND POLITICAL AND
OBVIOUSLY PARTIES AND POLITICAL AND MEDIA CLIMATE. WE CURRENTLY
PARTIES AND POLITICAL AND MEDIA CLIMATE. WE CURRENTLY LIVE IN
MEDIA CLIMATE. WE CURRENTLY LIVE IN AND THAT MAY BE. WHY DESPITE
LIVE IN AND THAT MAY BE. WHY DESPITE ALL THE EVIDENCE SHOWING OUR
AND THAT MAY BE. WHY DESPITE ALL THE EVIDENCE SHOWING OUR ECONOMY OVERALL IS RECOVERING
ALL THE EVIDENCE SHOWING OUR ECONOMY OVERALL IS RECOVERING PHENOMENALLY,
ECONOMY OVERALL IS RECOVERING PHENOMENALLY, AN OVERWHELMING NUMBER OF
PHENOMENALLY, AN OVERWHELMING NUMBER OF AMERICANS ARE UNHAPPY STILL
AN OVERWHELMING NUMBER OF AMERICANS ARE UNHAPPY STILL WITH PRESIDENT BIDEN‘S,
AMERICANS ARE UNHAPPY STILL WITH PRESIDENT BIDEN‘S, HANDLING OF IT, ROUGHLY
WITH PRESIDENT BIDEN‘S, HANDLING OF IT, ROUGHLY TWO-THIRDS
HANDLING OF IT, ROUGHLY TWO-THIRDS DISAPPROVE IN THE LATEST NBC
TWO-THIRDS DISAPPROVE IN THE LATEST NBC NEWS POLL
DISAPPROVE IN THE LATEST NBC NEWS POLL AND AS I
NEWS POLL AND AS I THERE‘S A STEEP
AND AS I THERE‘S A STEEP PARTISAN DIVIDE AS WELL.
THERE‘S A STEEP PARTISAN DIVIDE AS WELL. IT‘S A TOUGH SPOT FOR THE
PARTISAN DIVIDE AS WELL. IT‘S A TOUGH SPOT FOR THE WHITE HOUSE AND FOR DEMOCRATS,
IT‘S A TOUGH SPOT FOR THE WHITE HOUSE AND FOR DEMOCRATS, WITH MIDTERMS COMING UP IN
WHITE HOUSE AND FOR DEMOCRATS, WITH MIDTERMS COMING UP IN NOVEMBER,
WITH MIDTERMS COMING UP IN NOVEMBER, BUT COULD BIDEN‘S NEW BUDGET
NOVEMBER, BUT COULD BIDEN‘S NEW BUDGET WITH A POPULAR BILLIONAIRES
BUT COULD BIDEN‘S NEW BUDGET WITH A POPULAR BILLIONAIRES TAX IN IT, THAT WE MENTIONED
WITH A POPULAR BILLIONAIRES TAX IN IT, THAT WE MENTIONED LAST NIGHT.
TAX IN IT, THAT WE MENTIONED LAST NIGHT. COULD THAT TURN THINGS AROUND
LAST NIGHT. COULD THAT TURN THINGS AROUND FOR THE PRESIDENT IN TIME FOR
COULD THAT TURN THINGS AROUND FOR THE PRESIDENT IN TIME FOR ELECTION DAY.
FOR THE PRESIDENT IN TIME FOR ELECTION DAY. I SPOKE ABOUT THAT WITH
ELECTION DAY. I SPOKE ABOUT THAT WITH LONGTIME BIDEN, A JARED
I SPOKE ABOUT THAT WITH LONGTIME BIDEN, A JARED BERNSTEIN
LONGTIME BIDEN, A JARED BERNSTEIN WHO NOW SITS ON THE WHITE
BERNSTEIN WHO NOW SITS ON THE WHITE HOUSE, COUNCIL OF ECONOMIC
WHO NOW SITS ON THE WHITE HOUSE, COUNCIL OF ECONOMIC ADVISERS. WE SPOKE EARLIER
HOUSE, COUNCIL OF ECONOMIC ADVISERS. WE SPOKE EARLIER TODAY.
ADVISERS. WE SPOKE EARLIER TODAY. JARED BERNSTEIN, THANKS SO
TODAY. JARED BERNSTEIN, THANKS SO MUCH FOR COMING ON THE SHOW,
JARED BERNSTEIN, THANKS SO MUCH FOR COMING ON THE SHOW, BEFORE WE GET TO THE
MUCH FOR COMING ON THE SHOW, BEFORE WE GET TO THE SPECIFICS IN YOUR NEW
BEFORE WE GET TO THE SPECIFICS IN YOUR NEW BUDGET ON THE ECONOMY ITSELF.
SPECIFICS IN YOUR NEW BUDGET ON THE ECONOMY ITSELF. DESPITE THE
BUDGET ON THE ECONOMY ITSELF. DESPITE THE FANTASTIC GROWTH AND JOBS
DESPITE THE FANTASTIC GROWTH AND JOBS NUMBERS. YOU HAVE AN APPROVAL
FANTASTIC GROWTH AND JOBS NUMBERS. YOU HAVE AN APPROVAL RATING, THE WHITE HOUSE ON THE
NUMBERS. YOU HAVE AN APPROVAL RATING, THE WHITE HOUSE ON THE ECONOMY. ACCORDING TO THE
RATING, THE WHITE HOUSE ON THE ECONOMY. ACCORDING TO THE LATEST NBC NEWS POLL OF
ECONOMY. ACCORDING TO THE LATEST NBC NEWS POLL OF 33%, IT‘S AN EVEN LOWER NUMBER
LATEST NBC NEWS POLL OF 33%, IT‘S AN EVEN LOWER NUMBER FOR INDEPENDENCE,
33%, IT‘S AN EVEN LOWER NUMBER FOR INDEPENDENCE, 29 PERCENT, WHICH IS PRETTY
FOR INDEPENDENCE, 29 PERCENT, WHICH IS PRETTY DISASTROUS.
29 PERCENT, WHICH IS PRETTY DISASTROUS. DO YOU THINK THAT‘S PURELY
DISASTROUS. DO YOU THINK THAT‘S PURELY DOWN TO YOUR FAILURE TO
DO YOU THINK THAT‘S PURELY DOWN TO YOUR FAILURE TO CONTROL INFLATION AND
DOWN TO YOUR FAILURE TO CONTROL INFLATION AND ESPECIALLY GAS PRICES
CONTROL INFLATION AND ESPECIALLY GAS PRICES TO TAKE THAT ISSUE MORE
ESPECIALLY GAS PRICES TO TAKE THAT ISSUE MORE SERIOUSLY
TO TAKE THAT ISSUE MORE SERIOUSLY SERIOUSLY EARLIER ON?
SERIOUSLY SERIOUSLY EARLIER ON? OR IS IT SOMETHING ELSE?
SERIOUSLY EARLIER ON? OR IS IT SOMETHING ELSE? THAT‘S DRIVING THOSE PRETTY
OR IS IT SOMETHING ELSE? THAT‘S DRIVING THOSE PRETTY ABYSMAL POLL RATINGS. ON THE
THAT‘S DRIVING THOSE PRETTY ABYSMAL POLL RATINGS. ON THE ECONOMY. I THINK WHEN YOU GET
ABYSMAL POLL RATINGS. ON THE ECONOMY. I THINK WHEN YOU GET INTO THOSE
ECONOMY. I THINK WHEN YOU GET INTO THOSE CONFIDENCE MEASURES AND POLL
INTO THOSE CONFIDENCE MEASURES AND POLL RATINGS,
CONFIDENCE MEASURES AND POLL RATINGS, YOU HAVE TO GET UNDER THE
RATINGS, YOU HAVE TO GET UNDER THE HOOD.
YOU HAVE TO GET UNDER THE HOOD. ABSOLUTELY INFLATION IS IN THE
HOOD. ABSOLUTELY INFLATION IS IN THE MIX. SO IS A PANDEMIC
ABSOLUTELY INFLATION IS IN THE MIX. SO IS A PANDEMIC THAT‘S STILL WITH US AFTER ALL
MIX. SO IS A PANDEMIC THAT‘S STILL WITH US AFTER ALL THESE MONTHS,
THAT‘S STILL WITH US AFTER ALL THESE MONTHS, BUT I JUST SAW FROM THE
THESE MONTHS, BUT I JUST SAW FROM THE CONSUMER CONFIDENCE SURVEY
BUT I JUST SAW FROM THE CONSUMER CONFIDENCE SURVEY THAT CAME OUT TODAY
CONSUMER CONFIDENCE SURVEY THAT CAME OUT TODAY THAT IF YOU ASK
THAT CAME OUT TODAY THAT IF YOU ASK AMERICANS ABOUT THE LABOR
THAT IF YOU ASK AMERICANS ABOUT THE LABOR MARKET,
AMERICANS ABOUT THE LABOR MARKET, IT SCORED THE HIGHEST ON
MARKET, IT SCORED THE HIGHEST ON RECORD IN TERMS OF
IT SCORED THE HIGHEST ON RECORD IN TERMS OF PLENTIFUL JOBS.
RECORD IN TERMS OF PLENTIFUL JOBS. HIS JOBS HARD TO GET.
PLENTIFUL JOBS. HIS JOBS HARD TO GET. AND THAT AGAIN, IS A
HIS JOBS HARD TO GET. AND THAT AGAIN, IS A RECORD. NOW, IF YOU LOOK BACK
AND THAT AGAIN, IS A RECORD. NOW, IF YOU LOOK BACK ON
RECORD. NOW, IF YOU LOOK BACK ON ECONOMIC GROWTH, WHERE THE
ON ECONOMIC GROWTH, WHERE THE UNEMPLOYMENT RATE IS, EVEN
ECONOMIC GROWTH, WHERE THE UNEMPLOYMENT RATE IS, EVEN IF YOU LOOK AT PEOPLE‘S PAY
UNEMPLOYMENT RATE IS, EVEN IF YOU LOOK AT PEOPLE‘S PAY LEVELS, ESPECIALLY THOSE
IF YOU LOOK AT PEOPLE‘S PAY LEVELS, ESPECIALLY THOSE THE LOWER END OF THE PAY SCALE
LEVELS, ESPECIALLY THOSE THE LOWER END OF THE PAY SCALE WHERE WAGES ARE OFTEN
THE LOWER END OF THE PAY SCALE WHERE WAGES ARE OFTEN BEATING INFLATION. YOU GET
WHERE WAGES ARE OFTEN BEATING INFLATION. YOU GET A
BEATING INFLATION. YOU GET A VERY DIFFERENT STORY.
A VERY DIFFERENT STORY. YES,
VERY DIFFERENT STORY. YES, PRICE CHALLENGES ARE HUGE
YES, PRICE CHALLENGES ARE HUGE FOR THIS
PRICE CHALLENGES ARE HUGE FOR THIS PRESIDENT. IT‘S ONE OF THE
FOR THIS PRESIDENT. IT‘S ONE OF THE REASONS HE‘S ARTICULATED
PRESIDENT. IT‘S ONE OF THE REASONS HE‘S ARTICULATED BOTH IN THIS BUDGET
REASONS HE‘S ARTICULATED BOTH IN THIS BUDGET AND PROBABLY MORE IMPORTANTLY,
BOTH IN THIS BUDGET AND PROBABLY MORE IMPORTANTLY, AND MORE.
AND PROBABLY MORE IMPORTANTLY, AND MORE. IN MEDIA TERMS,
AND MORE. IN MEDIA TERMS, A VERY AGGRESSIVE AGENDA TO
IN MEDIA TERMS, A VERY AGGRESSIVE AGENDA TO TRY TO EASE THE PRICE
A VERY AGGRESSIVE AGENDA TO TRY TO EASE THE PRICE PRESSURES THAT HOUSEHOLDS ARE
TRY TO EASE THE PRICE PRESSURES THAT HOUSEHOLDS ARE JARED, MANY OF US ARE VERY
PRESSURES THAT HOUSEHOLDS ARE JARED, MANY OF US ARE VERY PLEASED TO SEE A QUOTE
JARED, MANY OF US ARE VERY PLEASED TO SEE A QUOTE BILLIONAIRE, MINIMUM INCOME
PLEASED TO SEE A QUOTE BILLIONAIRE, MINIMUM INCOME TAX, IN THIS NEW WHITE HOUSE
BILLIONAIRE, MINIMUM INCOME TAX, IN THIS NEW WHITE HOUSE BUDGET, PROPOSAL, A
TAX, IN THIS NEW WHITE HOUSE BUDGET, PROPOSAL, A 20 PERCENT MINIMUM TAX RATE ON
BUDGET, PROPOSAL, A 20 PERCENT MINIMUM TAX RATE ON ALL HOUSEHOLDS WORTH MORE THAN
20 PERCENT MINIMUM TAX RATE ON ALL HOUSEHOLDS WORTH MORE THAN A HUNDRED MILLION DOLLARS,
ALL HOUSEHOLDS WORTH MORE THAN A HUNDRED MILLION DOLLARS, BUT HOW DO YOU PLAN ON
A HUNDRED MILLION DOLLARS, BUT HOW DO YOU PLAN ON ENFORCING THAT? GIVE AN
BUT HOW DO YOU PLAN ON ENFORCING THAT? GIVE AN AMERICAN BILLIONAIRES ARE
ENFORCING THAT? GIVE AN AMERICAN BILLIONAIRES ARE NOTORIOUSLY GOOD AT DODGING,
AMERICAN BILLIONAIRES ARE NOTORIOUSLY GOOD AT DODGING, TAXES ON THEIR INCOME AND
NOTORIOUSLY GOOD AT DODGING, TAXES ON THEIR INCOME AND THEIR WEALTH.
TAXES ON THEIR INCOME AND THEIR WEALTH. WELL PEOPLE WHO ARE ALREADY
THEIR WEALTH. WELL PEOPLE WHO ARE ALREADY DIGGING INTO THIS A DAY OR TWO
WELL PEOPLE WHO ARE ALREADY DIGGING INTO THIS A DAY OR TWO LATER AFTER THIS ABSOLUTELY
DIGGING INTO THIS A DAY OR TWO LATER AFTER THIS ABSOLUTELY HISTORIC,
LATER AFTER THIS ABSOLUTELY HISTORIC, PROPOSAL
HISTORIC, PROPOSAL ARGUING THAT WE‘VE DONE
YOU SEE THINGS HAVE EVOLVED
YOU SEE THINGS HAVE EVOLVED OVER THE YEARS
YOU SEE THINGS HAVE EVOLVED OVER THE YEARS IN OUR ABILITY TO TAX
OVER THE YEARS IN OUR ABILITY TO TAX WEALTH OR
IN OUR ABILITY TO TAX WEALTH OR UNREALIZED GAINS MEANING
WEALTH OR UNREALIZED GAINS MEANING ASSET APPRECIATION. THAT ISN‘T
UNREALIZED GAINS MEANING ASSET APPRECIATION. THAT ISN‘T SOLD. SO, YOU DON‘T HAVE A
ASSET APPRECIATION. THAT ISN‘T SOLD. SO, YOU DON‘T HAVE A REALIZED CAPITAL GAIN
SOLD. SO, YOU DON‘T HAVE A REALIZED CAPITAL GAIN ONE OF THE THINGS YOU CAN DO
REALIZED CAPITAL GAIN ONE OF THE THINGS YOU CAN DO IS JUST GO ON
ONE OF THE THINGS YOU CAN DO IS JUST GO ON A
IS JUST GO ON A INTO A PERSON‘S.
A INTO A PERSON‘S. LOOK AT LOOK AT THE STOCK
INTO A PERSON‘S. LOOK AT LOOK AT THE STOCK MARKET
LOOK AT LOOK AT THE STOCK MARKET MOVEMENTS AND JUST SEE HOW
MARKET MOVEMENTS AND JUST SEE HOW A PERSON‘S
MOVEMENTS AND JUST SEE HOW A PERSON‘S PUBLICLY TRADED
A PERSON‘S PUBLICLY TRADED ASSETS.
PUBLICLY TRADED ASSETS. HAVE APPRECIATED. NOW. WE HAVE
ASSETS. HAVE APPRECIATED. NOW. WE HAVE TO REMEMBER WE‘RE TALKING
HAVE APPRECIATED. NOW. WE HAVE TO REMEMBER WE‘RE TALKING ABOUT
TO REMEMBER WE‘RE TALKING ABOUT THE VERY TIPPY TOP OF THE
ABOUT THE VERY TIPPY TOP OF THE PAY SCALE. THE TOP
THE VERY TIPPY TOP OF THE PAY SCALE. THE TOP POINT
PAY SCALE. THE TOP POINT 0, 1 PERCENT FOLKS WHO HAVE
POINT 0, 1 PERCENT FOLKS WHO HAVE HISTORICALLY
0, 1 PERCENT FOLKS WHO HAVE HISTORICALLY PAID AN
HISTORICALLY PAID AN EIGHT PERCENT EFFECTIVE TAX
PAID AN EIGHT PERCENT EFFECTIVE TAX RATE. WHY?
EIGHT PERCENT EFFECTIVE TAX RATE. WHY? BECAUSE NO ONE HAS EVER TRIED
RATE. WHY? BECAUSE NO ONE HAS EVER TRIED TO TAX THIS
BECAUSE NO ONE HAS EVER TRIED TO TAX THIS PART OF THEIR INCOME,
TO TAX THIS PART OF THEIR INCOME, BUT THE ARCHITECTURE HERE,
PART OF THEIR INCOME, BUT THE ARCHITECTURE HERE, BASED ON THE EVOLUTION OF OUR
BUT THE ARCHITECTURE HERE, BASED ON THE EVOLUTION OF OUR ABILITY TO TRACE AND TRACK
BASED ON THE EVOLUTION OF OUR ABILITY TO TRACE AND TRACK THESE INCOME FLOWS
ABILITY TO TRACE AND TRACK THESE INCOME FLOWS SUGGEST WE CAN DO THIS.
WHAT SOMETIME LAST YEAR YOU
WHAT SOMETIME LAST YEAR YOU CAME ON THE SHOW AND WOULDN‘T
WHAT SOMETIME LAST YEAR YOU CAME ON THE SHOW AND WOULDN‘T COMMIT TO A WEALTH TAX. I‘M
CAME ON THE SHOW AND WOULDN‘T COMMIT TO A WEALTH TAX. I‘M GLAD WE‘VE
COMMIT TO A WEALTH TAX. I‘M GLAD WE‘VE PROGRESSED SINCE THEN JARED
GLAD WE‘VE PROGRESSED SINCE THEN JARED YOU‘RE REQUESTING MORE MONEY
PROGRESSED SINCE THEN JARED YOU‘RE REQUESTING MORE MONEY FOR POLICING EVEN THOUGH
YOU‘RE REQUESTING MORE MONEY FOR POLICING EVEN THOUGH REPUBLICANS WON‘T STOP
FOR POLICING EVEN THOUGH REPUBLICANS WON‘T STOP ACCUSING YOU OF
REPUBLICANS WON‘T STOP ACCUSING YOU OF DEFUNDING THE POLICE THE
ACCUSING YOU OF DEFUNDING THE POLICE THE WHITE HOUSE, BUDGET PROPOSAL
DEFUNDING THE POLICE THE WHITE HOUSE, BUDGET PROPOSAL HAS NEARLY 38 BILLION DOLLARS
WHITE HOUSE, BUDGET PROPOSAL HAS NEARLY 38 BILLION DOLLARS FOR THE DOJ MORE THAN
HAS NEARLY 38 BILLION DOLLARS FOR THE DOJ MORE THAN 17 BILLION FOR FEDERAL LAW
FOR THE DOJ MORE THAN 17 BILLION FOR FEDERAL LAW ENFORCEMENT ANOTHER 30
17 BILLION FOR FEDERAL LAW ENFORCEMENT ANOTHER 30 BILLION PLUS FOR STATE AND
ENFORCEMENT ANOTHER 30 BILLION PLUS FOR STATE AND LOCAL LAW ENFORCEMENT
BILLION PLUS FOR STATE AND LOCAL LAW ENFORCEMENT AND YET, YOU DON‘T HAVE ANY
LOCAL LAW ENFORCEMENT AND YET, YOU DON‘T HAVE ANY AMERICANS WITH COVID, TESTING
AND YET, YOU DON‘T HAVE ANY AMERICANS WITH COVID, TESTING WITH COVID. VACCINATIONS,
AMERICANS WITH COVID, TESTING WITH COVID. VACCINATIONS, THE MONEY‘S RUN OUT FOR ALL OF
WITH COVID. VACCINATIONS, THE MONEY‘S RUN OUT FOR ALL OF THAT. IF YOU‘RE UNINSURED,
THE MONEY‘S RUN OUT FOR ALL OF THAT. IF YOU‘RE UNINSURED, YOU NOW HAVE TO PAY MORE THAN
THAT. IF YOU‘RE UNINSURED, YOU NOW HAVE TO PAY MORE THAN $100. LET ME
YOU NOW HAVE TO PAY MORE THAN $100. LET ME PCR. TEST,
$100. LET ME PCR. TEST, IS ANOTHER SCANDAL JARED WHEN
PCR. TEST, IS ANOTHER SCANDAL JARED WHEN SEVERAL HUNDRED AMERICANS ARE
IS ANOTHER SCANDAL JARED WHEN SEVERAL HUNDRED AMERICANS ARE STILL BEING KILLED BY COVID
SEVERAL HUNDRED AMERICANS ARE STILL BEING KILLED BY COVID EVERY DAY. IT WOULD BE A
STILL BEING KILLED BY COVID EVERY DAY. IT WOULD BE A SCANDAL IF WE WEREN‘T DOING
EVERY DAY. IT WOULD BE A SCANDAL IF WE WEREN‘T DOING PRECISELY
SCANDAL IF WE WEREN‘T DOING PRECISELY WHAT YOU‘RE SUGGESTING, WE
PRECISELY WHAT YOU‘RE SUGGESTING, WE NEED TO DO RIGHT NOW
WHAT YOU‘RE SUGGESTING, WE NEED TO DO RIGHT NOW THIS YEAR. OKAY, SO LET‘S GET
NEED TO DO RIGHT NOW THIS YEAR. OKAY, SO LET‘S GET OUR YEARS STRAIGHT HERE.
THIS YEAR. OKAY, SO LET‘S GET OUR YEARS STRAIGHT HERE. THIS IS A BUDGET FOR
OUR YEARS STRAIGHT HERE. THIS IS A BUDGET FOR 2023.
THIS IS A BUDGET FOR 2023. AND IF YOU LOOK
2023. AND IF YOU LOOK AT THE COVER, IT SAYS F.
AND IF YOU LOOK AT THE COVER, IT SAYS F. FY
AT THE COVER, IT SAYS F. FY 23. FISCAL YEAR.
FY 23. FISCAL YEAR. TWENTY THREE BUDGET. WHAT
23. FISCAL YEAR. TWENTY THREE BUDGET. WHAT THIS PRESIDENT? AND OUR STAFF
TWENTY THREE BUDGET. WHAT THIS PRESIDENT? AND OUR STAFF ARE WORKING
THIS PRESIDENT? AND OUR STAFF ARE WORKING INTENSELY WITH THE HILL
ARE WORKING INTENSELY WITH THE HILL IS TO ALLOCATE.
INTENSELY WITH THE HILL IS TO ALLOCATE. 23 BILLION DOLLARS THIS
IS TO ALLOCATE. 23 BILLION DOLLARS THIS YEAR
23 BILLION DOLLARS THIS YEAR 2022 TO ADDRESS
YEAR 2022 TO ADDRESS EVERYTHING. YOU JUST TOOK US
2022 TO ADDRESS EVERYTHING. YOU JUST TOOK US THROUGH.
EVERYTHING. YOU JUST TOOK US THROUGH. WE CAN‘T WAIT FOR
THROUGH. WE CAN‘T WAIT FOR FISCAL YEAR. TWENTY THREE TO
WE CAN‘T WAIT FOR FISCAL YEAR. TWENTY THREE TO KICK IN WE CAN‘T WAIT FOR NEXT
FISCAL YEAR. TWENTY THREE TO KICK IN WE CAN‘T WAIT FOR NEXT YEAR. WE HAVE TO GET THOSE
KICK IN WE CAN‘T WAIT FOR NEXT YEAR. WE HAVE TO GET THOSE FUNDS IN PLAY NOW AND THAT‘S
YEAR. WE HAVE TO GET THOSE FUNDS IN PLAY NOW AND THAT‘S SOMETHING. WE ARE ACTIVELY
FUNDS IN PLAY NOW AND THAT‘S SOMETHING. WE ARE ACTIVELY WORKING TO
SOMETHING. WE ARE ACTIVELY WORKING TO LEGISLATE.
WORKING TO LEGISLATE. JUST TO BE CLEAR.
LEGISLATE. JUST TO BE CLEAR. I TAKE YOUR POINT FOR THE
JUST TO BE CLEAR. I TAKE YOUR POINT FOR THE FUTURE FISCAL YEAR, BUT AS OF
I TAKE YOUR POINT FOR THE FUTURE FISCAL YEAR, BUT AS OF APRIL, THE 5TH
FUTURE FISCAL YEAR, BUT AS OF APRIL, THE 5TH UNINSURED PEOPLE WILL NO
APRIL, THE 5TH UNINSURED PEOPLE WILL NO LONGER GET FREE VACCINATIONS
UNINSURED PEOPLE WILL NO LONGER GET FREE VACCINATIONS AS OF LAST WEEK. THERE WAS
LONGER GET FREE VACCINATIONS AS OF LAST WEEK. THERE WAS WAS TO STOP TO FREE.
AS OF LAST WEEK. THERE WAS WAS TO STOP TO FREE. PCR TESTS. IS THAT
WAS TO STOP TO FREE. PCR TESTS. IS THAT CHANGING ANYTIME SOON?
PCR TESTS. IS THAT CHANGING ANYTIME SOON? SOON, IF THIS PRESIDENT HAS
CHANGING ANYTIME SOON? SOON, IF THIS PRESIDENT HAS HIS WAY, AND HE‘S BEEN
SOON, IF THIS PRESIDENT HAS HIS WAY, AND HE‘S BEEN EXTREMELY
HIS WAY, AND HE‘S BEEN EXTREMELY PERSUASIVE ON THESE ISSUES
EXTREMELY PERSUASIVE ON THESE ISSUES WITH THE HILL.
PERSUASIVE ON THESE ISSUES WITH THE HILL. SURE. I MEAN AGAIN,
WITH THE HILL. SURE. I MEAN AGAIN, HE IS FIGHTING FOR A
SURE. I MEAN AGAIN, HE IS FIGHTING FOR A TWENTY THREE BILLION
HE IS FIGHTING FOR A TWENTY THREE BILLION DOLLAR ALLOCATION THIS
TWENTY THREE BILLION DOLLAR ALLOCATION THIS YEAR, TOO.
DOLLAR ALLOCATION THIS YEAR, TOO. IS PRECISELY WHAT YOU‘RE
YEAR, TOO. IS PRECISELY WHAT YOU‘RE RAISING.
IS PRECISELY WHAT YOU‘RE RAISING. LET‘S TALK DEFENDS JARED. I
RAISING. LET‘S TALK DEFENDS JARED. I GET THAT WE‘RE IN THE MIDDLE
LET‘S TALK DEFENDS JARED. I GET THAT WE‘RE IN THE MIDDLE OF THIS UKRAINE CRISIS, AND
GET THAT WE‘RE IN THE MIDDLE OF THIS UKRAINE CRISIS, AND WE‘VE ALL BEEN REMINDED OF THE
OF THIS UKRAINE CRISIS, AND WE‘VE ALL BEEN REMINDED OF THE THREAT THAT A BELLIGERENT
WE‘VE ALL BEEN REMINDED OF THE THREAT THAT A BELLIGERENT RUSSIA POSES,
THREAT THAT A BELLIGERENT RUSSIA POSES, BUT A SENATOR BERNIE SANDERS
RUSSIA POSES, BUT A SENATOR BERNIE SANDERS POINTED OUT YESTERDAY. WE
BUT A SENATOR BERNIE SANDERS POINTED OUT YESTERDAY. WE ALREADY BEFORE THIS CRISIS WAS
POINTED OUT YESTERDAY. WE ALREADY BEFORE THIS CRISIS WAS SPENDING MORE THAN THE NEXT
ALREADY BEFORE THIS CRISIS WAS SPENDING MORE THAN THE NEXT ELEVEN COUNTRIES
SPENDING MORE THAN THE NEXT ELEVEN COUNTRIES PUT TOGETHER.
ELEVEN COUNTRIES PUT TOGETHER. AND WE JUST SAW AN END TO LAST
PUT TOGETHER. AND WE JUST SAW AN END TO LAST YEAR TO AMERICA‘S LONGEST,
AND WE JUST SAW AN END TO LAST YEAR TO AMERICA‘S LONGEST, EVER WAR IN AFGHANISTAN.
YEAR TO AMERICA‘S LONGEST, EVER WAR IN AFGHANISTAN. SHOULDN‘T THERE BE SOME
EVER WAR IN AFGHANISTAN. SHOULDN‘T THERE BE SOME SAVINGS ON THE DEFENSE BUDGET?
SHOULDN‘T THERE BE SOME SAVINGS ON THE DEFENSE BUDGET? WHY ON EARTH IS THE BIDEN
SAVINGS ON THE DEFENSE BUDGET? WHY ON EARTH IS THE BIDEN ADMINISTRATION ASKING FOR MORE
WHY ON EARTH IS THE BIDEN ADMINISTRATION ASKING FOR MORE MONEY FOR DEFENSE THAN
ADMINISTRATION ASKING FOR MORE MONEY FOR DEFENSE THAN DONALD TRUMP WAS? HOW IS THAT
MONEY FOR DEFENSE THAN DONALD TRUMP WAS? HOW IS THAT JUSTIFIABLE? HOW IS THAT
DONALD TRUMP WAS? HOW IS THAT JUSTIFIABLE? HOW IS THAT PROGRESSIVE?
JUSTIFIABLE? HOW IS THAT PROGRESSIVE? BECAUSE THERE ARE THREE
PROGRESSIVE? BECAUSE THERE ARE THREE VALUES
BECAUSE THERE ARE THREE VALUES OF THIS
VALUES OF THIS PRESIDENT THAT ARE DEEPLY
OF THIS PRESIDENT THAT ARE DEEPLY EMBEDDED. IN THIS BUDGET.
PRESIDENT THAT ARE DEEPLY EMBEDDED. IN THIS BUDGET. WE‘VE TALKED ABOUT
EMBEDDED. IN THIS BUDGET. WE‘VE TALKED ABOUT ONE OF THEM ALREADY INVESTING
WE‘VE TALKED ABOUT ONE OF THEM ALREADY INVESTING IN THE AMERICAN PEOPLE.
ONE OF THEM ALREADY INVESTING IN THE AMERICAN PEOPLE. HELPING THEM TO
IN THE AMERICAN PEOPLE. HELPING THEM TO ALLEVIATE SOME OF THOSE COST
HELPING THEM TO ALLEVIATE SOME OF THOSE COST PRESSURES. WE HAVEN‘T TALKED
ALLEVIATE SOME OF THOSE COST PRESSURES. WE HAVEN‘T TALKED YET ABOUT
PRESSURES. WE HAVEN‘T TALKED YET ABOUT DEFICIT REDUCTION, FISCAL.
YET ABOUT DEFICIT REDUCTION, FISCAL. RESPONSIBILITY IS ANOTHER ONE
DEFICIT REDUCTION, FISCAL. RESPONSIBILITY IS ANOTHER ONE AND THE THIRD
RESPONSIBILITY IS ANOTHER ONE AND THE THIRD SAFETY AND SECURITY.
AND THE THIRD SAFETY AND SECURITY. NOW,
SAFETY AND SECURITY. NOW, YOU CAN ARGUE ALL DAY.
NOW, YOU CAN ARGUE ALL DAY. ABOUT
YOU CAN ARGUE ALL DAY. ABOUT DIFFERENT FACTIONS AND WHERE
ABOUT DIFFERENT FACTIONS AND WHERE THEY ARE ON THIS POINT,
DIFFERENT FACTIONS AND WHERE THEY ARE ON THIS POINT, BUT WHEN IT COMES TO PRESIDENT
THEY ARE ON THIS POINT, BUT WHEN IT COMES TO PRESIDENT BIDEN, HE IS COMMITTED TO THE
BUT WHEN IT COMES TO PRESIDENT BIDEN, HE IS COMMITTED TO THE AMERICAN PEOPLE TO DELIVER
BIDEN, HE IS COMMITTED TO THE AMERICAN PEOPLE TO DELIVER ON SAFETY AND SECURITY BOTH
AMERICAN PEOPLE TO DELIVER ON SAFETY AND SECURITY BOTH HERE AT HOME
ON SAFETY AND SECURITY BOTH HERE AT HOME AND ABROAD.
HERE AT HOME AND ABROAD. CERTAINLY LOOKING FAMILIAR.
AND ABROAD. CERTAINLY LOOKING FAMILIAR. HOLD ON, CERTAINLY LOOKING AT
CERTAINLY LOOKING FAMILIAR. HOLD ON, CERTAINLY LOOKING AT THE GEOPOLITICAL WORLD. WE
HOLD ON, CERTAINLY LOOKING AT THE GEOPOLITICAL WORLD. WE LIVE IN TODAY.
THE GEOPOLITICAL WORLD. WE LIVE IN TODAY. I THINK YOU HAVE TO AGREE THAT
LIVE IN TODAY. I THINK YOU HAVE TO AGREE THAT THAT VALUE
I THINK YOU HAVE TO AGREE THAT THAT VALUE EMBEDDED. IN THIS BUDGET
THAT VALUE EMBEDDED. IN THIS BUDGET BUDGET IS A
EMBEDDED. IN THIS BUDGET BUDGET IS A IMPORTANT AND MEANINGFUL ONE.
BUDGET IS A IMPORTANT AND MEANINGFUL ONE. I‘M NOT ASKING YOU TO CUT THE
IMPORTANT AND MEANINGFUL ONE. I‘M NOT ASKING YOU TO CUT THE BUDGET IN HALF OR EVEN BY A
I‘M NOT ASKING YOU TO CUT THE BUDGET IN HALF OR EVEN BY A QUARTER. I‘M ASKING WHY YOU‘RE
BUDGET IN HALF OR EVEN BY A QUARTER. I‘M ASKING WHY YOU‘RE ASKING FOR AN INCREASE ON A
QUARTER. I‘M ASKING WHY YOU‘RE ASKING FOR AN INCREASE ON A BUDGET THAT ALREADY
ASKING FOR AN INCREASE ON A BUDGET THAT ALREADY COSTS ALREADY VALUES
BUDGET THAT ALREADY COSTS ALREADY VALUES MORE THAN THE NEXT ELEVEN
COSTS ALREADY VALUES MORE THAN THE NEXT ELEVEN COUNTRIES PUT TOGETHER. I
MORE THAN THE NEXT ELEVEN COUNTRIES PUT TOGETHER. I THINK IT‘S SOMETHING LIKE 12
COUNTRIES PUT TOGETHER. I THINK IT‘S SOMETHING LIKE 12 OR 13 TIMES THE RUSSIAN
THINK IT‘S SOMETHING LIKE 12 OR 13 TIMES THE RUSSIAN DEVICE. THAT WASN‘T ENOUGH
OR 13 TIMES THE RUSSIAN DEVICE. THAT WASN‘T ENOUGH WHY I ASKED FOR MORE MONEY
DEVICE. THAT WASN‘T ENOUGH WHY I ASKED FOR MORE MONEY THAN EVEN DONALD TRUMP
WHY I ASKED FOR MORE MONEY THAN EVEN DONALD TRUMP REMARKABLE
THAN EVEN DONALD TRUMP REMARKABLE HERE IS THAT WE DO THE THREE
REMARKABLE HERE IS THAT WE DO THE THREE THINGS THAT I MENTION IN THIS
HERE IS THAT WE DO THE THREE THINGS THAT I MENTION IN THIS BUDGET,
THINGS THAT I MENTION IN THIS BUDGET, INCLUDING THIS ONE, WHICH IS
BUDGET, INCLUDING THIS ONE, WHICH IS TO INVEST IN AMERICAN SAFETY
INCLUDING THIS ONE, WHICH IS TO INVEST IN AMERICAN SAFETY AND SECURITY.
TO INVEST IN AMERICAN SAFETY AND SECURITY. T. HERE AND ABROAD,
AND SECURITY. T. HERE AND ABROAD, AND
T. HERE AND ABROAD, AND INVEST IN FAMILY, WELL-BEING
AND INVEST IN FAMILY, WELL-BEING IN
INVEST IN FAMILY, WELL-BEING IN CHILD, CARE AND ELDER CARE.
IN CHILD, CARE AND ELDER CARE. AND REDUCING PRESCRIPTION
CHILD, CARE AND ELDER CARE. AND REDUCING PRESCRIPTION DRUGS IN HELPING
AND REDUCING PRESCRIPTION DRUGS IN HELPING EASE COST PRESSURES.
DRUGS IN HELPING EASE COST PRESSURES. INCREASING HOUSING SUPPLY
EASE COST PRESSURES. INCREASING HOUSING SUPPLY AND
INCREASING HOUSING SUPPLY AND REDUCE THE DEFICIT BY
AND REDUCE THE DEFICIT BY A TRILLION OVER 10 YEARS.
REDUCE THE DEFICIT BY A TRILLION OVER 10 YEARS. AND AND
A TRILLION OVER 10 YEARS. AND AND THEY THESE ARE HISTORIC
AND AND THEY THESE ARE HISTORIC REDUCTION OF HOW DO WE DO ALL
THEY THESE ARE HISTORIC REDUCTION OF HOW DO WE DO ALL THREE OF
REDUCTION OF HOW DO WE DO ALL THREE OF THOSE? WELL, PART OF, IT IS A
THREE OF THOSE? WELL, PART OF, IT IS A VERY PROGRESSIVE
THOSE? WELL, PART OF, IT IS A VERY PROGRESSIVE TAX POLICY. WE JUST TALKED
VERY PROGRESSIVE TAX POLICY. WE JUST TALKED ABOUT IS AN ABSOLUTELY
TAX POLICY. WE JUST TALKED ABOUT IS AN ABSOLUTELY HISTORIC.
ABOUT IS AN ABSOLUTELY HISTORIC. ABSOLUTELY.
HISTORIC. ABSOLUTELY. PROGRESSIVE.
ABSOLUTELY. PROGRESSIVE. NO, WE AGREE ON THAT.
PROGRESSIVE. NO, WE AGREE ON THAT. SO WE AGREE THAT WE DISAGREE.
NO, WE AGREE ON THAT. SO WE AGREE THAT WE DISAGREE. HOLD ON HOLIDAY. WE AGREE ON
SO WE AGREE THAT WE DISAGREE. HOLD ON HOLIDAY. WE AGREE ON THAT. WE DISAGREE ON DEFENSE.
HOLD ON HOLIDAY. WE AGREE ON THAT. WE DISAGREE ON DEFENSE. WE‘RE OUT OF TIME. 30 SECONDS
THAT. WE DISAGREE ON DEFENSE. WE‘RE OUT OF TIME. 30 SECONDS LEFT, BUT I GOT ASKED A
WE‘RE OUT OF TIME. 30 SECONDS LEFT, BUT I GOT ASKED A QUESTION. YES OR NO. IF YOU
LEFT, BUT I GOT ASKED A QUESTION. YES OR NO. IF YOU LIKE
QUESTION. YES OR NO. IF YOU LIKE MAKING, KEEP IT VERY SIMPLE.
LIKE MAKING, KEEP IT VERY SIMPLE. DO YOU THINK YOUR BUDGET
MAKING, KEEP IT VERY SIMPLE. DO YOU THINK YOUR BUDGET PROPOSAL ACCURATELY REFLECTS
DO YOU THINK YOUR BUDGET PROPOSAL ACCURATELY REFLECTS THE PRESIDENT‘S VALUES WHEN IT
PROPOSAL ACCURATELY REFLECTS THE PRESIDENT‘S VALUES WHEN IT COMES TO SPENDING ON DEFENSE
THE PRESIDENT‘S VALUES WHEN IT COMES TO SPENDING ON DEFENSE VERSUS SPENDING ON COVID?
COMES TO SPENDING ON DEFENSE VERSUS SPENDING ON COVID? YOU THINK THE BALANCE IS RIGHT
VERSUS SPENDING ON COVID? YOU THINK THE BALANCE IS RIGHT IN YOUR BUDGET.
YOU THINK THE BALANCE IS RIGHT IN YOUR BUDGET. I DON‘T THINK THAT‘S A YES OR
IN YOUR BUDGET. I DON‘T THINK THAT‘S A YES OR NO QUESTION BECAUSE OF THE
I DON‘T THINK THAT‘S A YES OR NO QUESTION BECAUSE OF THE TIMING ISSUE WE TALKED ABOUT
NO QUESTION BECAUSE OF THE TIMING ISSUE WE TALKED ABOUT BEFORE I AM. NEVER GOING
TIMING ISSUE WE TALKED ABOUT BEFORE I AM. NEVER GOING TO
BEFORE I AM. NEVER GOING TO AGREE TO ANY KIND OF A
TO AGREE TO ANY KIND OF A SUGGESTION THAT THIS
INVESTING IN OFFSETTING THE
INVESTING IN OFFSETTING THE CHALLENGES OF THIS PANDEMIC.
INVESTING IN OFFSETTING THE CHALLENGES OF THIS PANDEMIC. IT‘S SOMETHING HE‘S DONE
CHALLENGES OF THIS PANDEMIC. IT‘S SOMETHING HE‘S DONE EVERY DAY SINCE HE‘S GOT HERE
IT‘S SOMETHING HE‘S DONE EVERY DAY SINCE HE‘S GOT HERE AND THAT IS VERY MUCH IN PLAY
EVERY DAY SINCE HE‘S GOT HERE AND THAT IS VERY MUCH IN PLAY FOR THIS YEAR
AND THAT IS VERY MUCH IN PLAY FOR THIS YEAR 2022. AS HE ADVOCATES FOR A
FOR THIS YEAR 2022. AS HE ADVOCATES FOR A TWENTY THREE BILLION DOLLAR
2022. AS HE ADVOCATES FOR A TWENTY THREE BILLION DOLLAR ALLOCATION
TWENTY THREE BILLION DOLLAR ALLOCATION TO CONTINUE
ALLOCATION TO CONTINUE THE
TO CONTINUE THE REMARKABLE PROGRESS THAT THIS
THE REMARKABLE PROGRESS THAT THIS WHITE HOUSE IS MADE AGAINST
REMARKABLE PROGRESS THAT THIS WHITE HOUSE IS MADE AGAINST THE PANDEMIC. REMEMBER, I‘LL
WHITE HOUSE IS MADE AGAINST THE PANDEMIC. REMEMBER, I‘LL LET YOU GO WITH THIS WHEN WE
THE PANDEMIC. REMEMBER, I‘LL LET YOU GO WITH THIS WHEN WE GOT HERE.
LET YOU GO WITH THIS WHEN WE GOT HERE. ZERO, PEOPLE WERE VACCINATED.
GOT HERE. ZERO, PEOPLE WERE VACCINATED. NOW, WE‘RE AT
ZERO, PEOPLE WERE VACCINATED. NOW, WE‘RE AT SEVENTY-SEVEN PERCENT OF
NOW, WE‘RE AT SEVENTY-SEVEN PERCENT OF ADULTS. SO, THAT‘S THE KIND OF
SEVENTY-SEVEN PERCENT OF ADULTS. SO, THAT‘S THE KIND OF PROGRESS. WE‘RE GOING TO
APPRECIATE YOU TAKING TIME OUT
APPRECIATE YOU TAKING TIME OUT FOR AN HONEST BACK AND FORTH
APPRECIATE YOU TAKING TIME OUT FOR AN HONEST BACK AND FORTH WITH ME. THANK YOU.