PROSPERITY THAT AMERICANS REALLY
WANT.
ALL RIGHT?
SO, NOW COMES THE REALLY FUN
PART.
JOINING US TODAY IS A GOOD
FRIEND, HOUSE SPEAKER KEVIN
MCCARTHY, WHO IS DOING A GREAT
JOB, WHO INVITED US HERE.
MR. SPEAKER, THANK YOU.
WE’RE IN THE RAYBURN ROOM?
>> THIS IS THE RAYBURN ROOM.
RIGHT OUTSIDE, RIGHT THROUGH
THAT DOOR IS THE HOUSE CHAMBERS.
THIS IS THE RAYBURN ROOM.
NORMALLY WHEN WE’RE IN SESSION
THIS IS WHERE MEMBERS WOULD BE
MEETING IN BETWEEN VOTES.
LARRY: YOU WERE VERY KIND TO
INVITE US HERE.
YOU HAVE SOME KIND OF
ANNOUNCEMENT TO MAKE?
>> WELL IT IS NOT YOUR BIRTHDAY
BUT IT IS YOUR PRESENT.
LARRY: [LAUGHTER]
>> HR.1 WILL BE THE LOWER ENERGY
ACT, BECAUSE WHAT WE’RE DOING
HERE, YOU’RE RIGHT, THE ONLY WAY
YOU CAN REAL OY CURVE INFLATION
YOU
YOU HAVE TO LOWER ENERGY COSTS.
YOU NAMED ALL THE DIFFERENT
THINGS ENERGY, BUT THERE IS MORE
TO IT.
IT IS NOT JUST ENERGY WE WILL
DO.
WE NEED TO DOUBLE ALL THE ABOVE
WHAT WE’RE PRODUCING TODAY.
NOT NEED JUST BE ENERGY
INDEPENDENT.
THIS IS ABOUT EXPORTING TO, TO
OUR ALLIES.
WE SHOULD MAKE CHINA DEPENDENT
ON OUR NATURAL GAS.
YOU KNOW WHAT WOULD HAPPEN?
THE WORLD WOULD BE CLEANER.
OUR NATURAL GAS IS 41% CLEANER
THAN RUSSIAN NATURAL GAS BUT IT
IS ALSO THE PERMITTING SO WHAT
IS INTERESTING, THEY PASSED THE
INFRASTRUCTURE BILL, THEY WON’T
BE ABLE TO BUILD ANYTHING UNLESS
WE GET A PERMITTING BILL
THROUGH.
IF THEY WANT RENEWABLES, THEY
CAN’T PUT A NEW WINDMILL IN,
CAN’T PUT A NEW SOLAR FACILITY
IN IF THEY DON’T GET PERMITTING.
AMERICA, GOD HAS BLESSED US.
WE’RE ABUNDANT IN ENERGY.
I DON’T KNOW WHY WE DON’T USE
IT.
IT WOULD LOWER THE COST, WOULD
HELP LOWER INFLATION, WOULD
LOWER THE PRICE OF EVERYTHING
YOU THINK ABOUT FROM FOOD ON
DOWN.
IT WOULD GIVE PEOPLE MORE CASH
ON HAND, CREATE MORE JOBS IN
AMERICA, GOOD-PAYING.
WOULD BE GOOD FOR OUR
ENVIRONMENT.
THERE IS NO DOWNSIDE TO THIS,
JUST UPSIDE, ALL THE WAY
THROUGH.
LARRY: WE COULD BE TALKING ABOUT
OIL, NATURAL GAS, PIPELINES, I
PRESUME?
>> YOU’VE POT TO HAVE PIPELINES.
THAT BRINGS IN SAFETY.
TALK ABOUT THESE TRAIN WRECKS.
YOU KNOW, YOU DON’T WANT TO BE
MOVING ENERGY ON TRAINS.
YOU WANT TO PUT THEM IN
PIPELINES OF.
IT’S A SAFER PROCESS.
YOU LOOK AT PENNSYLVANIA, LOOK
AT SHALE OUT THERE, PRODUCE MORE
NATURAL GAS, THEY ARE NOT
DRILLING ANYMORE BECAUSE THEY
DON’T HAVE ANYMORE PIPELINES TO
SEND IT.
LARRY: REFINERIES.
>> WHEN IS THE LAST TIME WE
BUILT A NEW REFINERY?
WHEN YOU BUILD A NEW REFINERY,
YOU KNOW WHAT HAPPENS?
IT IS CLEANER, MORE TECHNOLOGY,
MORE EFFICIENT.
WE HAVE ABILITY TO PRODUCE ALL
OF THAT.
LARRY: THIS IS ALARMING TO ALL
THE GLOBAL WARMING PEOPLE BUT A
GOOD PERMITTING BILL, SEEMS TO
ME YOU WOULD OPEN DOOR OF MINING
AND MINERALS AND RESOURCES FOR
THE ELECTRIC CARS AROUND THE
BATTERIES?
>> YOU HAVE TO HAVE THAT.
SO THIS OPENS UP MINES AS WELL.
THINK ABOUT THIS FOR ONE MOMENT,
BECAUSE AMERICA WAS DOING THE
OPPOSITE DIRECTION, CHINA
CONTROLS 95% OF THE PROCESSING
OF CRITICAL MINERALS.
THEY CONTROL 90% OF MINERALS
THAT CRITICAL MINERALS
THEMSELVES.
WHY WOULD WE DO THAT IF AMERICA
IS A ABUNDANT IN IT?
WHY WOULD WE DO THAT IF GOD
BLESSED US WITH IT?
WE WOULD OPEN UP IN
ENVIRONMENTALLY SOUND, SAFE, WAY
WE CAN MINE TO PRODUCE MORE
ELECTRIC CARS BUT NOT BE
BEHOLDEN TO CHINA OR ANY OTHER
COUNTRY.
LET’S PRODUCE IT HERE IN
AMERICA.
LARRY: BASICALLY YOU AND YOUR
TEAM, WE WILL HAVE MAJORITY
LEADER STEVE SCALISE WILL BE ON
IN A MOMENT, YOU AND THE NEW
REPUBLICAN CONGRESS WILL PUT
TOGETHER BILLS COMBINING HR.1.
>> THREE DIFFERENT COMMITTEES.
TRANSPORTATION, ENERGY AND
COMMERCE WITH
CATHY McMORRIS RODGERS, BRUCE
WESTERMAN, AN EXPERT ON DOING
THIS SOME HAVE THEIR MARK CUPS.
SOME ALREADY.
LATER IN THE MONTH WE’LL PASS IT
AS HR.1.
MAYBE A VERY GOOD POINT, FOR
EVERYONE SAYS YOU DON’T HAVE THE
HOUSE, YOU CAN’T PASS ANYTHING,
I SIGNED DISPLEASING OF ESG WE
PASSED THE HOUSE, FOR THAT
REGULATION AND THE SENATE WHICH
WAS BIPARTISAN.
TOMORROW I’M GOING TO SIGN THE
BILL TO MAKE SURE D.C. DOESN’T
DECRIMINALIZE EVERYTHING.
THE PRESIDENT WAS GOING TO VETO
AND NOW ISN’T.
WHEN YOU GIVE STRONG IDEAS WITH
THE AMERICAN PUBLIC INVOLVED YOU
HAVE LAW.
LARRY: I WANT TO GET TO THE
BUDGET NONSENSE.
>> YES.
LARRY: PEOPLE ARE NOW WRITING
ABOUT, YOU’VE HAD BIPARTISAN
SUPPORT FOR ALL OF THESE BILLS,
LOTS OF DEMOCRATS IN THE HOUSE.
30 DEMOCRATS IN THE HOUSE ON ONE
BILL.
I THINK THAT WAS THE ESG BILL.
50 SOME ODD DEMOCRATS ON THE
D.C. CRIME BILL, FOR EXAMPLE.
SPILLING OVER INTO THE SENATE AS
WELL.
>> YOU GOT TO FIRST PASS IT
HERE.
THE SENATE, 81 PEOPLE IN THE
SENATE VOTED FOR OUR CRIME BILL.
AND NOW THINK ABOUT THIS, WE HAD
146 DEMOCRATS JOIN US TO CREATE
THE SELECT COMMITTEE ON CHINA.
LARRY: RIGHT.
>> WE HAD A NUMBER OF DEMOCRATS
JOIN US TO STOP THE "SPRO,"
STRATEGIC PETROLEUM RESERVE
SELLING THAT TO CHINA.
OF THE 28 BILLS WE PASSED HERE,
24 OF THEM WERE PASSED
BIPARTISAN.
LARRY: THE IDEA COUPLE MONTHS
AGO FROM THE MAINSTREAM MEDIA
THAT THE REPUBLICANS IN THE
HOUSE WERE COMPLETELY SPLIT,
NEVER GET ANYTHING DONE, KIND OF
SOUNDS THE REPUBLICANS IN THE
HOUSE ARE NOT ONLY DRIVING GREAT
LEGISLATION AND GETTING
DEMOCRATIC SUPPORT BUT IT IS THE
DEMOCRATS WHO ARE BADLY SPLIT?
>> HAVE YOU HEARD, WHAT THEY
SAID ABOUT PRESIDENT BIDEN.
THEY’RE UPSET WITH HIM.
HE TOLD THEM HE WOULDN’T SUPPORT
THE BILL.
NOW HE WANT WANTS TO SIGN THE
BILL.
I LIKE BEING UNDERESTIMATED
WE’LL KEY DOING SINGLES, DOWELS,
IN THE END WE’LL HAVE A LOT MORE
RUNS TO MAKE AMERICA.
LARRY: THIS IS UNSERIOUS
DOCUMENT, IT IS A UNSERIOUS
DOCUMENT, A IT IS A RIDICULOUS
DOCUMENT, FIVE TRILLION DOLLARS.
THIS IS A DOCUMENT THAT WILL
CRASH THE ECONOMY, SLAUGHTER
SMALL BUSINESSES, KEEP INFLATION
PRESSURES ON.
THIS IS BIDEN AT HIS
CONFRONTATIONAL WORST?
THIS IS LIKE NOT A RESET, THIS
IS NOT A BILL CLINTON.
THIS THING WILL BE MORE LIKE
BERNIE SANDERS.
>> IT IS MORE LIKE BERNIE
SANDERS THAN ANYTIME.
THE WORST PART ABOUT THIS IS SO
UNSERIOUS BUT UNSERIOUS AT THE
WRONG MOMENT IN TIME.
YOU HAD THE CONGRESSIONAL BUDGET
OFFICE.
YOU KNOW, LARRY, WE DID
SOMETHING NEVER BEEN DONE
BEFORE, WE HAD REPUBLICANS,
DEMOCRATS GETTING TOGETHER
OUTSIDE OF THE CHAMBERS.
WE ONLY NORMALLY DO THIS FOR
CLASSIFIED BRIEFINGS WITH SOME
VERY SERIOUS THREAT TO AMERICA.
I THINK OUR DEBT IS A SERIOUS
THREAT.
WE HAD THE CONGRESSIONAL BUDGET
OFFICE DIRECTOR COME TALK TO US,
TELL US WHAT THE NUMBERS ARE.
YOU KNOW IN THE NEXT DECADE,
NEXT 10 YEARS, A COUPLE OF
CRITICAL POINTS, ALL THREE TRUST
FUNDS GO INSOLVENT, HIGHWAY
FUND, MEDICARE, SOCIAL SECURITY.
WE’LL PAY MORE THAN
10.5 TRILLION JUST IN INTEREST.
THINK ABOUT THIS, SINCE 1940 TO
TODAY WE ONLY PAID NINE TRILLION
IN INTEREST.
SO THE LAST 80 YEARS WE’LL PAY
MORE IN THE NEXT TEN YEARS.
WE’RE AT THE TIPPING POINT.
YOU MADE A GOOD POINT EARLIER HE
IS SPENDING SOMEWHERE 24, 25% OF
THE GDP AND 50 YEAR AVERAGE
HOVERS AROUND 21, IF YOU LOOK AT
REVENUE, WE’RE SITTING 20% OF
GDP IN REVENUE.
THINGS TO THE WORK YOU DID ON
TAX REFORM.
YOU KNOW HOW MANY TIMES WE WERE
AT 20%?
1944, 2,000.
ONLY 50 YEAR AVERAGE IS 1.1% OF
GDP COMING IN.
MORE REVENUE THAN ANY GIVEN
TIME.
THE PROBLEM HE IS SPENDING MORE.
IT IS NOT A REVENUE PROBLEM, IT
IS SPENDING.
WHAT DOES THIS BUDGET DO, RAISES
MORE TAXES, CREATES MORE MONEY,
PROBABLY THE BIGGEST GOVERNMENT
YOU HAVE EVER SEEN IN THE
HISTORY OF THE UNITED STATES.
LARRY: NEWT GINGRICH WAS RIGHT
MONTHS AND MONTHS AGO.
THIS IS BIG GOVERNMENT
SOCIALISM.
>> IT IS.
LARRY: HE MADE NO EFFORT TO HIDE
THE THING AT ALL, QUITE
REMARKABLE.
LET ME, YOU MAY HAVE HEARD THIS,
THE PRESIDENT IN PHILADELPHIA.
LET ME PLAY A QUICK SOUND OR
OLIVE BRANCH OR -- LET YOU
DECIDE, HEAR THIS FROM PRESIDENT
BIDEN.
PRESIDENT BIDEN: I WANT TO MAKE
IT CLEAR I’M READY TO MEET WITH
THE SPEAKER ANYTIME, TOMORROW IF
HE HAS HIS BUDGET, LAY IT DOWN,
TELL ME WHAT YOU WANT TO DO.
I SHOW YOU WHAT I WANT TO, SEE
WHAT WE AGREE, DON’T AGREE,
WE --
LARRY: YOU PROBABLY HEARD ABOUT
THIS BEFORE BUT IF NOT, THERE
YOU HAVE IT.
>> MY FIRST TIME.
LARRY: WHAT DO YOU THINK?
>> WELL HE HAS BEEN IGNORING ME
FOR ALL THESE MONTHS WHICH IS
WASTE OF TIME, RIGHT?
WHEN I DID MEET WITH HIM, I TOLD
HIM TWO THINGS, I WILL NEVER
RAISE TAXES, WON’T PASS A CLEAN
DEBT CEILING.
WHERE WE’RE AT RIGHT NOW IS THAT
YOU GAVE YOUR CHILD A CREDIT
CARD AND THEY CHARGED IT ALL THE
WAY UP.
YOU’RE RESPONSIBLE.
WE HAVE TO PAY IT.
WE HAVE TO HAVE LIFTING OF THE
DEBT CEILING BUT YOU WANT TO
CHANGE YOUR BEHAVIOR.
IF YOU DON’T CHANGE YOUR
BEHAVIOR, YOU HAVE MORE
INFLATION, THE OTHER PROBLEM YOU
HAVE IS WEAKEN YOURSELF AGAINST
CHINA, YOU HURT YOUR CHILDREN
AND GRANDCHILDREN.
PUT AMERICA ON A PATH.
YOU KNOW WHAT?
I TOLD HIM I WOULD DO OTHER
THINGS.
WHAT ABOUT IF WE PUT WORK
REQUIREMENT IN?
WHAT IF WE PASSED HR.1, MADE
AMERICA STRONGER?
WHAT IF WE SECURED BORDER SO
CHILDREN ARE NOT DYING FROM GET
AT THAT NIL.
I WOULD WEIGH THAT SAVINGS
BECAUSE AMERICA WOULD BE
STRONGER FOR THAN.
LARRY: WE HAS GONE, WE HAVE TO
CHECK IT OUT, SAYING CLEAN DEBT
BILL, CLEAN DEBT BILL.
HE SAID HE WOULD MEET WITH YOU
AGAIN, NOTHING EVER HAPPENED.
>> NEVER CALLED BACK FOR A
SECOND MEETING.
LARRY: YOU THINK, WILL YOU TALK
TO HIM THIS AFTERNOON?
>> I WILL TALK TO HIM ANY DAY.
LARRY: IS HE SERIOUS.
>> OUR WHOLE GOVERNMENT AS YOU
KNOW IS DESIGNED TO FIND
COMPROMISE.
THE PROBLEM IS TOO BIG.
THE ELECTION IS OVER.
LET’S SIT DOWN TO WORK THROUGH
THIS BUT LET’S BE RATIONAL ABOUT
IT.
LET’S BE SENSIBLE ABOUT THIS
RAISING TAXES IN THIS ECONOMY IS
WRONG.
YOU HAVE MORE REVENUE THAN
ANYTIME.
SPENDING UNDER DEMOCRATS
INCREASED 30%.
THAT IS PUT US INTO PROBLEMS.
WE’RE AT A TIPPING POINT AT 120%
OF GDP BEING OUR DEBT.
WE NEVER SEEN THIS SINCE
WORLD WAR II.
LARRY: SO YOU HAVE SAID THERE
WILL BE NO DEBT INCREASE WITHOUT
SIGNIFICANT BUDGET SAVINGS?
>> YEAH.
LARRY: THAT IS NO CHANGE?
>> NO CHANGE IN THAT.
LARRY: DO YOU THINK HE IS GOING
TO CHANGE?
HERE IS WHAT I’M THINKING.
>> YES.
LARRY: MAYBE HE WILL BUT THIS
BUDGET IS SO IN YOUR FACE, IT IS
SO FAR AWAY FROM TRADITIONAL
CONSERVATIVE PRO-GROWTH
PRINCIPLES THAT IT IS ALMOST
LIKE A BAD --
>> I WOULD LOVE TO PUT BUDGET ON
THE FLOOR HOW MANY DEMOCRATS
VOTE WITH IT.
THEY WILL NOT BEHIND IT.
LARRY: OH.
>> YOU HEAR CHUCK SCHUMER PASS A
CLEAN DEBT CEILING.
HE CAN’T PASS A DEBT CEILING OUT
OF THE SENATE.
WHY DOESN’T HE PUT ONE ON THE
FLOOR NOW?
THEY NEED TO SIT DOWN TO
NEGOTIATE THE WAY THE AMERICAN
PUBLIC EXPECT US TO DO, BE
RATIONAL, PUT A PLAN THAT MAKES
US FINANCIALLY STRONGER, PUT
WORK REQUIREMENTS IN, TO GIVE
PEOPLE INCENTIVE TO GO BACK TO
WORK, HELP OUR SUPPLY CHAIN, HP
OUR PRODUCTIVITY, CREATE AN
ENERGY POLICY THAT LOWERS ENERGY
PRICES SO MORE COMPANIES ARE
CREATED IN AMERICA BUT ALSO THE
PRODUCTS COST LESS.
YOU CURVE INFLATION THAT THEY
CREATED BY THE RUNAWAY SPENDING.
LARRY: WOULD YOU BUY HIM A CUP
OF COFFEE IF HE SAID YES?
>> I COULD BUY IT POUR IT FOR
HIM IF HE WOULD SIT DOWN AND
MEET.
LARRY: SPEAKER KEVIN MCCARTHY,
YOU ARE WONDERFUL.
GRATEFUL YOU INVITED US.
>> I WILL SIGN HR.1, LOWER
ENERGY COST ACT ESPECIALLY TO
YOU, SO YOU CAN HANG IT ON YOUR