at the Lincoln Wish List Event.
♪.
LARRY: WELL, AGAIN, JOE BIDEN
CALLED THE CBO THE GOLD STANDARD
OF BUDGET SCORING A WHILE BACK
BUT NOW THEY’RE ALL SINGING A
DIFFERENT TUNE.
DEMOCRATS SAYING IT’S FAKE.
JOINING ME NOW TO TALK ABOUT
THIS AND SOME OTHER THINGS WE
WELCOME ARKANSAS SENATOR JOHN
BOZEMAN.
SENATOR BOZEMAN, WELCOME, SIR.
JUST, YOU KNOW I FOUND THIS MEMO
FROM SECRETARY JANET YELLEN,
SORRY AND SHE SAYS EXPLICITLY, I
QUOTED IT IN THE FIRST BLOCK,
EXPLICITLY THE BIDEN PLAN WAS
ALWAYS TO BE PERMANENT BUT THAT
THEY MADE SOME THINGS TEMPORARY
IN ORDER TO ACHIEVE CONSENSUS.
NOW, YOU KNOW, IF THAT ISN’T
TRUTH TELLING INADVERTENTLY THE
CBO HAS THE STORY EXACTLY RIGHT.
THEY KNEW WHAT THEY WERE DOING,
SENATOR BOZEMAN, THEY KNEW
EXACTLY WHAT THEY WERE DOING
WITH THESE GIMMICKS AND
BASICALLY THE CBO CALLED THEM ON
IT AND GOT IT RIGHT?
>> NO, YOU’RE EXACTLY RIGHT.
YOU CAN GO DOWN AND LISTEN TO
THE CONGRESSIONAL TESTIMONY, THE
DEBATE AS WE TALKED ABOUT THESE
THINGS AND THEY HAVE ALWAYS SAID
THEY WANTED TO GET THESE THINGS
PERMANENT.
AS YOU KNOW THE GIMMICK IS, IS
THAT YOU HAVE THE PAY-FOR OVER
10 YEARS FOR ENTITLEMENT THAT
LASTS ONLY A YEAR.
IT IS ABSOLUTELY CRAZY.
I THINK WE NEED TO GIVE LINDSEY
GRAHAM A BIG THANKS, RANKING
MEMBER ON THE BUDGET COMMITTEE.
HE DID A GREAT JOB OF REALLY
PRESSING CBO TO SCORE THIS.
IT IS NOT JUST CBO, LARRY.
AS YOU KNOW THERE HAVE BEEN A
COUPLE OUTSIDE GROUPS, WHARTON
SCHOOL OF BUSINESS, THEY CAME
OUT, THEIRS WAS VERY MUCH THE
SAME THING THAT CBO FOUND.
LARRY: YOU KNOW ON THE FLOOR,
YOU GOT, WHAT HAVE YOU GOT TWO
WEEKS UNTIL CHRISTMAS, SOME
SUCH, HOW CAN THESE ARGUMENTS
FROM THE DEMOCRATS THAT THIS
SCORINGS FAKE TO USE ONE PHRASE,
HOW CAN IT HOLD UP?
I MEAN EVERYBODY KNEW, IT WAS
THE WORST-KEPT SECRET IN TOWN,
SENATOR.
THAT’S WHAT I’M SAYING.
THERE ARE THINGS THAT ARE
LEGITIMATELY UP FOR DEBATE.
I GET THAT, YOU KNOW.
I’VE BEEN IN AND OUT OF THAT
GAME FOR QUITE SOME TIME, BUT
THIS THING IS LIKE THE
WORST-KEPT SECRET IN WASHINGTON
WAS THESE GIMMICKS.
THE CBO CALLED ON THEM.
A FEW YEARS AGO BIDEN CALLED THE
CBO THE GOLD STANDARD.
I’M PRESSING THE POINT.
THERE IS SO BATCH LOAN ANY, THIS
IS ONE OF THE REASONS WHY
JOE BIDEN’S POLLS ARE CRASHING,
INCLUDING HIS POLLS, SENATOR, ON
HONESTY.
PEOPLE THINK IT IS DISHONEST
WHICH IT IS.
>> WELL I THINK WHAT HAPPENED
WAS JOE MANCHIN SAID LOOK, I
WANT A BILL COMES IN ABOUT
$1.5 TRILLION, AROUND THAT
RANGE.
AND SO SOMEBODY AT SOME POINT
SAID, OKAY WE’VE GOT TO DO THIS.
THEN THEY CRAFTED THIS BILL
USING THE SMOKE AND MIRRORS TO
GET IN THEORETICALLY BY THE, BY
YOU KNOW, USING GIMMICKS IN THIS
AND THAT, SO THEY WERE IN THAT
RANGE TO GET A VOTE OUT OF
SENATOR MANCHIN.
THE PROBLEM THEY HAVE GOT, EVEN
HE HAS COME OUT AND SAID LOOK,
THIS IS NOT RIGHT.
CBO IS SAYING THIS.
THESE OTHER OUTSIDE ENTITIES ARE
SCORING IT THE SAME WAY AND SO
BECAUSE OF THAT, THEY HAVE GOT A
REAL PROBLEM SELLING IT TO THE
PUBLIC.
I THINK YOU’RE EXACTLY RIGHT.
I THINK THAT’S WHY PRESIDENT
BIDEN HAS UNPRECEDENTED LOW POLL
NUMBERS RIGHT NOW.
LARRY: I THINK JOE MANCHIN, AT
LEAST IN WEST VIRGINIA, HAS VERY
HIGH POLL NUMBERS BECAUSE HE HAS
BEEN A TRUTH TELLER, AND HE HAS
BEEN CONSISTENT.
>> HE IS A SQUARE SHOOTER.
LARRY: PARDON?
RIGHT.
>> THE ONLY THING I WOULD SAY,
IT IS REALLY REMARKABLE, SEEMS
LIKE YESTERDAY, MYSELF AND
SEVERAL OTHER SENATOR WAS COME
OVER TO THE WHITE HOUSE,
PRESIDENT TRUMP WOULD BE SITTING
ACROSS FROM US, YOU WOULD BE
RIGHT TO HIS RIGHT WITH YOUR
TEAM AND WE WERE TALKING ABOUT
CUTTING TAXES HAVING CUT TAXES.
WE WERE TALKING ABOUT REDUCING
REGULATION, AND HAD THE BEST
ECONOMY IN 50 YEARS.
NOW WE’RE TALKING ABOUT 6.8%
INFLATION AND WHEN I GO HOME, I
THOUGHT IT WAS REALLY
INTERESTING, AS YOU WERE
VISITING WITH THE PANEL, WHEN I
GO HOME, THE BUSINESS PEOPLE ARE
TALKING ABOUT LABOR, THEY’RE
TALKING ABOUT SUPPLY CHAINS,
THINGS LIKE THAT.
THE REGULAR MAN ON THE STREET IS
IT TALKING ABOUT INFLATION.
THE FACT THAT HIS FOOD IS GOING
UP DRAMATICALLY.
HIS GASOLINE.
HE KNOWS HE IS GOING TO BE
COLDER THIS WINTER BECAUSE OF A
30 TO 35% INCREASE IN HEATING.
THOSE ARE THE THINGS THAT THE
AMERICAN PUBLIC CARE ABOUT.
NOBODY’S ASKING ME TO GET A
CHECK.
LARRY: INTERESTING.
THAT BY THE WAY IS WHAT ONE OF
THE POLLS THAT LIZ PEEK CITED.
YOU KNOW THE CHECK STUFF LAST
SPRING DIDN’T REALLY WORK.
IT DIDN’T REALLY TAKE.
AND THAT INCLUDES, BY THE WAY,
YOU KNOW THE CHILD CARE
ALLOWANCE, WHICH IS ESSENTIALLY
JUST A DIRECT YOU KNOW, DIRECT
FUNDING.
DIDN’T REALLY TAKE.
LET ME ASK YOU IN ARKANSAS, YOU
GOT A PRETTY BIG FARM COMMUNITY.
WHAT ARE THEY SAYING ABOUT THIS
WHOLE INFLATION STORY?
>> WELL THEY DON’T LIKE THE
POLICY AT ALL IN THE SENSE OF
THE BILL.
THE GREEN NEW DEAL, THAT IS
GOING TO DRAMATICALLY INCREASE
THEIR FERTILIZER COSTS, THEIR
INPUT COSTS WITH GASOLINE,
DIESEL, THINGS LIKE THAT.
THE OTHER THING THAT THEY DON’T
LIKE IS THE PAY-FORS.
WHAT THEY WERE TRYING TO DO AND
THE FARM COMMUNITY REALLY ROSE
UP, THANKS TO YOU, LARRY, ALSO
PEOPLE LIKE YOURSELF REALLY
EXPLAINED WHAT IT WOULD DO,
DOING AWAY WITH STEPPED UP
BASIS.
DRAMATICALLY INCREASING CAPITAL
GAINS.
GETTING RID OF THE 1031 LAND
EXCHANGE.
THESE ARE THINGS THAT DO HAVE
THEM UPSET.
THE LATEST THING IS THIS, WHEN
YOU’RE BANK ACCOUNT CHURNS AND
YOU GET $10,000, ALL OF A SUDDEN
IT IS GOING TO THE IRS.
THAT HAS LOTS OF PEOPLE IN FARM
COUNTRY, LOTS OF PEOPLE
THROUGHOUT THE COUNTRY VERY,
VERY CONCERNED.
LARRY: I CALL IT SNOOP, SNOOP.
ACTUALLY OUR FRIEND RON WYDEN --
>> UNBELIEVABLE.
LARRY: CHAIRMAN OF THE SENATE
FINANCE COMMITTEE, HE IS STILL
PUSHING UNREALIZED CAPITAL GAINS
ON BILLIONAIRES AND
MILLIONAIRES.
NO TRANSACTION, JUST EVERY YEAR.
THAT THING GOING TO GO?
ACTUALLY, SENATOR, I DON’T
REALLY KNOW WHAT THE TAX POLICY
WILL BE COMING OUT OF THE
FINANCE COMMITTEE.
THEY HAVEN’T BEEN AS SPECIFIC AT
ALL, WHAT I CAN TELL.
>> THAT IS THE PROBLEM, THEY ARE
NOT SPECIFIC ABOUT ANYTHING.
THEY WILL SPEND $90 BILLION ON
AGRICULTURE.
I’M THE RANKING MEMBER ON
AGRICULTURE.
WE HAD NO HEARINGS.
NO REPUBLICANS ARE BEING
INVOLVED IN THESE THINGS AT ALL.
THE SAME IS TRUE OF THE FINANCE
AND ALL THE OTHER COMMITTEES.
THAT ALSO IS A HUGE PROBLEM IN
ITSELF.
LARRY: I WANT TO ASK YOU ONE
NOTE, DID MITCH McCONNELL GIVE
IN TOO EASILY ON THE DEBT
CEILING, BECAUSE, SENATOR, I’M,
THERE WAS SCHEDULED TO BE AN
ACROSS THE BOARD BUDGET CUT FROM
PRIOR DEALS, BUDGET CAPS HAD
BEEN VIOLATED?
AND THERE WOULD HAVE BEEN
ROUGHLY A 400 BILLION-DOLLAR
SO-CALLED SEQUESTER WHICH MEANS
ACROSS THE BOARD BUDGET CUT BUT
NOW THIS DEBT DEAL AS I
UNDERSTAND IT TAKES THAT
COMPLETELY OUT OF PLAY AND I’M
JUST SAYING I DON’T WANT TO
CAUSE HAVOC, I DON’T WANT TO
DEFAULT ON THE DEBT BUT I WOULD
LOVE TO CUT $400 BILLION OUT OF
THE FEDERAL BUDGET FOR A CHANGE.
>> I THINK REPUBLICANS EARLY ON
WERE VERY CLEAR AND WE DID SEND
A MIXED MESSAGE.
THE OTHER THING WE HAVEN’T
TALKED ABOUT THE FACT DEMOCRATS
HAVE ALREADY SPENT $1.9 TRILLION
ON THE SO-CALLED COVID PACKAGE.
A LOT OF IT DOESN’T EVEN START
GETTING SPENT UNTIL AFTER 2023.
SO YOU HAVE $1.9 TRILLION.
YOU HAVE THE OTHER $5 TRILLION
OF SPENDING.
REPUBLICANS BASICALLY SAID, YOU
KNOW, IF YOU’RE GOING TO SPEND
THAT MONEY, YOU NEED TO RAISE
THE DEBT CEILING, YOU NEED TO
INCREASE IT 2 1/2 TRILLION
DOLLARS, WHATEVER IT IS GOING TO
BE, NOT REPUBLICANS.
I BOUGHT INTO THAT.
I AGREED WITH IT VERY MUCH.
AS A RESULT DID NOT VOTE FOR THE
BILL THE WAY IT WAS DONE.
LARRY: ALL RIGHT.
WE’LL LEAVE IT THERE, SENATOR