>> THE MAJAY REPUBLICANS’S
PROPOSAL WILL BE A 5 ALARM FIRE
FOR HARD-WORKING FAMILIES.
PRESIDENT BIDEN IS FOCUSED ON
GIVING THEM MORE BREATHING
ROOM.
HIMAJAY A CONGRESSIONAL
REPUBLICANS WOULD INCREASE
COSTS AND WORSEN INFLATION.
BRIAN: THE WHITE HOUSE STEPPING
UP ATTACKS ON MSAJAY
REPUBLICANS, AND THE FREEDOM
CAUCUS BUDGET PLAN.
JANET YELLEN IS SET TO TESTIFY
ON PRESIDENT BIDEN’S
$6.7 TRILLION BUDGET.
HOUSE FINANCIAL SERVICES
CONGRESSMAN BYRON DONALDS,
THANKS FOR BEING WITH US.
I WANT TO TAKE YOU TO KJ’S
STATEMENT, SHE’S CALLING YOU AN
ECONOMIC ARSONIST.
WHAT YOUR RESPONSE TO THAT?
>> THE PRESS SECRETARY DOESN’T
KNOW WHAT SHE’S TALKING ABOUT,
SHE DOESN’T KNOW ECONOMICS.
SHE WORKS FOR A GUY THAT
IGNITED INFLATION IN OUR
ECONOMY.
WE DID NOT HAVE 8% OR 6%
INFLATION IN THIS COUNTRY FOR
40 YEARS.
IT TOOK PRESIDENT BIDEN TWO
MONTHS AND TEAR IT IS.
SHE DOESN’T WANT -- KNOW WHAT
SHE’S TALKING ABOUT.
IF YOU GET INFLATION OUT OF OUR
ECONOMY, PART OF THE JOB ISN’T
THE FEDERAL RESERVE WITH
RAISING RATES BUT THE OTHER
PART OF IT IS GOVERNMENT
CURTAILING ITS SPENDING.
INFLATION IS CREATED BY TOO
MUCH GOVERNMENT MONEY GOING
INTO THE ECONOMY, TOO MANY
DOLLARS CHASING TOO FEW GOODS,
THE FORMULA IS THE SAME. IF SHE TOOK IN ECONOMICS COURSE
IF SHE TOOK IN ECONOMICS COURSE
MAYBE SHE WOULD REALIZE THAT.
TAYLOR: I THINK IT IS
INTERESTING PIVOTING A LITTLE
BIT, THE FREEDOM CAUCUS IS
CALLING TO END THE GOVERNMENT
BANK BAILOUTS WE’VE BEEN
SEEING, THE MASSIVE GLOBAL
INSURANCE FOR ALL DEPOSITORS.
>> IF YOU ARE GOING TO DO
UNIVERSAL SECURITY OF DEPOSITS
IT CREATES A MORAL HAZARD TO.
WHAT DOES THAT TELL A BANK
BOARD IF THERE IS UNLIMITED
SECURITY OF ALL DEPOSITS?
THEY CAN DO MORE STUFF WITH THE
BALANCE SHEET, NOT LESS.
I UNDERSTAND THE FED’S WINDOW
IS OPEN, THAT NEEDS TO BE
CLOSED.
IN A COUPLE WEEKS, IN MY VIEW.
WHEN YOU GET BACK TO BANKING
PRACTICES, WHAT WAS THE FEDERAL
RESERVE BOARD DOING? WHAT WERE REGULATORS LOOKING
WHAT WERE REGULATORS LOOKING
AT?
MARY DAILY SHOULD BE CALLED
INTO CONGRESS TO ANSWER THOSE
QUESTIONS.
SHE FAILED IN SUPERVISORY, THE
SBB BANK BOARD FAILED
SUPERVISORY, THAT IS WHAT WE
NEED TO BE FOCUSED ON.
TAYLOR: WHEREBY THE REGULATORS
IN NEW YORK?
>> I DON’T KNOW.
NOT SAYING IT IS SOME GUY IN
CONGRESS.
MY FIRST JOB COMING OUT OF
COLLEGE I HAD TO DEAL WITH THE
BANK REGULATORS.
WHEN I WAS A CREDIT OFFICER
WRITING A LOAN-LOSS REPORT FOR
MY BANK, WHAT WERE THE BANK
REGULATORS DOING WITH SIGNATURE
AND HOW COME THEY DID NOT HOLD
THEM ACCOUNTABLE FOR THE
INTEREST RATE RISK THAT WAS ON
THEIR BALANCE SHEET?
TAYLOR: BACK TO THE BUDGET, THE
HOUSE FREEDOM CAUCUS BUDGET
PLAN FORMING ELLEN, SPENDING AT
2022 LEVELS, CANCEL
$400 BILLION IN STUDENT LOAN
BAILOUTS, RECLAIM UNSPENT COVID
FUNDS AND HAVE WORK
REQUIREMENTS FOR WELFARE
RECIPIENTS.
I THINK THAT IS STRONG
MESSAGING.
WHAT CAN YOU GUYS DO BETTER TO
GET THAT MESSAGING OUT TO THE
AMERICAN PUBLIC?
WHAT THIS ADMINISTRATION TENDS
TO DO IS PLAY SPINNING GAMES TO
MAKE IT SEEM YOU WILL MAKE IT
WORSE FOR PEOPLE THAN THEY
ALREADY HAVE IT.
>> VERY SIMPLE.
FIRST THING WE ARE TELLING
EVERYBODY IS WE WANT TO GET
BACK TO PRE-COVID SPENDING
LEVELS.
COVID HAPPENED, WE KNOW
GOVERNMENT RESPONDED.
IT IS MIXED ABOUT THE OPINIONS
OF THE SPENDING THAT HAPPENED,
CARES ACT MONEY, TOTALLY GET
IT, AMERICAN RESCUE PLAN WITH A
JOKE THAT NEVER SHOULD HAVE
HAPPENED BUT COVID IS OVER,
EVEN PRESIDENT BIDEN IS SAYING
THAT.
IF COVID IS OVER WIRE WE
SPENDING AS IF COVID IS STILL
HAPPENING TO THE COUNTRY?
WE SHOULD GET BACK TO PRE-COVID
SPENDING LEVELS.
NUMBER 2 WITH RESPECT TO WORK
REQUIREMENTS, WE GOT RID OF
WORK REQUIREMENTS BECAUSE OF
COVID.
COVID IS OVER.
PEOPLE HAVING TO GO BACK TO
WORK REQUIREMENTS IS A GOOD
THING FOR THE COUNTRY.
.3 AND MOST OF ALL, IF WE
CONTINUE TO RECKLESSLY SPEND IN
WASHINGTON IT WILL MAKE
INFLATION AND OUR ECONOMY
WORSE, AND THAT HURTS POOR
PEOPLE, WHETHER YOU ARE WHITE,
BLACK, HISPANIC, REPUBLICAN, OR
DEMOCRAT, YOU ARE GOING TO
SUFFER.
PRESIDENT BIDEN DOESN’T CARE,
HE WOULD RATHER SPEND
$7 TRILLION OF MONEY WE DON’T
HAVE.
JACKIE: GRAND JURY PROCEEDINGS