SO THEY ARE DODGE THAT QUESTION
NOW.
SEAN: YES, THEY ARE.
REPUBLICAN TEXAS CONGRESSMAN
KEVIN BRADY, GOOD TO SEE YOU.
I WANT TO TAKE A LOOK AT THIS,
THE NEW YORK POST COVER
DESIGNING THE WORD RECESSION.
A PERIOD OF TEMPORARY ECONOMIC
DECLINE DURING WHICH TRADE AND
INDUSTRIAL ACTIVITY ARE REDUCED
GENERALLY FOLLOWED BY A DECLINE
IN GDP FOR TWO CONSECUTIVE
QUARTERS.
WE HAD A DECLINE FOR TWO
CONSECUTIVE QUARTERS IN GDP.
BIDEN DOESN’T THINK IT’S A
RECESSION.
>> I WISH THE WHITE HOUSE HAD A
VACCINE FOR DENIAL.
THEY ONLY IN THE DROVE THE
ECONOMY INTO RECESSION.
THEY BUNGLED A KEY REPORT OF
WHAT THIS ECONOMY NEEDS.
WE ARE A SHRINKING ECONOMY, A
SHRINKING PAYCHECKS, A SHRINKING
WORKFORCE.
EMPLOYMENT DROPPED, THE LAST
THREE MONTHS, SMALL BUSINESS HAS
LOST JOBS.
BUSINESS AND SERVICE ACTIVITY
HAVE PLUNGED HERE.
AND ALMOST EVERY FORECASTER HAS
DOWN GRADE OUR GROWTH GOING
FORWARD, SIGNIFICANTLY.
SO I DON’T KNOW HOW YOU NOT CALL
THIS A RECESSION.
THE AMERICAN PEOPLE AS YOU
NOTED, THEY ARE FEELING IT IN A
BIG WAY.
BUT WE HAVE ONE OUT OF FOUR
AMERICANS DELAYING THEIR
RETIREMENT BECAUSE THEY CAN’T
FIND A WAY TO LIVE, MAKE ENDS
MEET UNDER JOE BIDEN.
WE HAVE SO MANY PEOPLE SKIPPING
MEALS, ELIMINATING MEAT, USING
CREDIT CARS TO PAY FOR THE DAILY
ESSENTIALS, AND GOING INTO DEBT.
FOR THE AMERICAN PEOPLE THIS IS
A CRUEL ECONOMY AND CERTAINLY A
RECESSION.
SEAN.
WE HAD $2 TRILLION OF COVID
SPENDING A YEAR AND A HALF AGO.
AND INFRASTRUCTURE SPENDING.
THE CHIPS ACT, $280 BILLION WAS JUST PASSED.
JUST PASSED.
NOW DEMOCRATS ARE TALKING ABOUT
THE BUILD BACK BETTER THEY
CAUGHT INFLATION REDUCTION ACT.
IT SEEMS LIKE DEMOCRATS ARE
DOING EVERYTHING WRONG TO GET
INFLATION UNDER CONTROL.
THESE ARE LIKE SAILORS ON METH.
AND THERE IS A CONSEQUENCE FOR
IT.
>> THEY ARE IN DENIAL AGAIN.
THEY ARE SAYING THIS WILL NOT
HURT AMERICAN JOBS AND WILL NOT
CAUSE MORE INFLATION.
BUT IT CERTAINLY WILL.
WILL THIS BILL INCLUDE THE TAX
HIKES MAINLY ON AMERICAN
MANUFACTURERS.
MAINLY ON FAMILY FARMS AND SMALL
BUSINESSES.
IT FUELS INFLATION WITH MORE
FEDERAL SPENDING.
THERE IS BETTER HEALTHCARE FOR
THE JOBLESS THAN THOSE THE WORK.
BILLIONS OF GREEN NEW DEAL
SUBSIDIES.
FEWER CURES IN THE WAY THEY ARE
DOING THERISE PRICE CONTROLS --
DOING THE PRICE CONTROLS.
FOR THE AMERICAN VOTERS, WHY
WOULD YOU TRUST THE SAME
DEMOCRATS THAT DROVE THIS
ECONOMY INTO A RECESSION WITH
YET ANOTHER ECONOMIC BILL.
SEAN: IN THE CHIPS ACT THEY SAY
WE WANT TO INCENTIVIZE MORE CHIP
MANUFACTURING.
SO THEY LOWER TAXES ON CHIP
MANUFACTURERS.
THEN THE SAME DAY THEY ARE GOING
TO RAISE TAX ON AMERICAN
BUSINESSES.
THE SAME PRINCIPLE IS TRUE.
IF YOU RAISE TAXES THEY ARE NOT
GOING TO COME BACK TO AMERICA,
THEY ARE GOING TO LEAVE AMERICA
AND GO SOMEWHERE ELSE.
>> THE COMPANIES THAT ARE HIT
THE HARDEST ARE THOSE WHO BUILD IN AMERICA.
IN AMERICA.
ENERGY, HE LOW TELECOM, MANUFACT
SO THERE IS NO QUESTION, THESE
HIGHER TAXES WILL TRANSLATE INTO
HIGHER INFLATION.
WHO IN THEIR RIGHT MIND RAISES
TAXES ON THESE BUSINESSES AS WE
ARE ENTERING A RECESSION?
IT MAKES NO SENSE.
SEAN: I WANT TO GO TO THE FORMER
PRESIDENT BARACK OBAMA.
IN 2009 HE WAS TALKING ABOUT
RAISING TAXES IN A RECESSION.
>> THE LAST THING YOU WANT TO DO
IS RAISE TAXES NOTICE MIDDLE OF
A RECESSION BECAUSE THAT WOULD
SUCK UP, TAKE MORE DEMANDS OUT
OF THE ECONOMY RAN PUT BUSINESSES IN A FURTHER HOLE.
BUSINESSES IN A FURTHER HOLE.
SEAN: YOU AND BARACK OBAMA ARE
IN AGREEMENT.
>> IT’S COMMON SENSE AND I THINK
MOST ECONOMISTS UNDERSTAND THIS.
THE NEW REPORTS OUT, THIS
SLIMMED DOWN BUILD BACK BETTER
JOINT COMMITTEE ON TAXES SAYS
THIS WILL RAISE INFLATION,
ESPECIALLY IN THE SHORT TERM.
EXACTLY THE POINT.
WE CAN’T AFFORD TO DO THAT.
THERE IS NO QUESTION THIS WHITE
HOUSE IS NOT GOING TO PLENLDS
THEIR WAYS.
THE ONLY -- MEND THEIR WAYS.
THE ONLY THING THAT WILL CHANGE
A NEW DIRECTION FROM THE HOUSE
AND SENATE.