IT’S 5:00 IN NEW YORK CITY.
THIS IS "THE FIVE."
THINGS ARE NOT GOING SO MOVING
SMOOTHLY FOR PRESIDENT BIDEN WHO
CAN’T CATCH A BREAK FROM BAD
HEADLINES, MULTIPLE REPORTS
PAINTING A BLEAK PICTURE FOR THE
DEMOCRAT AS AMERICANS DEAL WITH
HISTORIC INFLATION AND RAGING
GAS PRICES.
HIS AIDES ARE REPORTEDLY
FRUSTRATED WITH STUDENT DEBT
FORGIVENESS AND CHINA TARIFFS,
SAYING THEY NEED TO NOTCH A WIN
AHEAD OF THE MIDTERMS.
AND WHISPERS ON WHETHER BIDEN
SHOULD RUN AGAIN ARE SCREAMING
HEADLINES.
DEMOCRATS OPENLY WORRY ABOUT HIS
AGE AND LOW APPROVAL.
ADDING TO THE PRESIDENT’S
MISFORTUNES ARE THE OPTICS,
PRESIDENT BIDEN AFTER HE TRIED
TO GET OFF HIS BIKE IN DELAWARE.
THANKFULLY HE’S OKAY.
HE WAS BACK ON THE BEACH,
GETTING DEFENSIVE, AS MORE
ECONOMISTS WARN A RECESSION
COULD BE COMING.
>> IS IT MORE LIKELY THAN EVER?
COME ON.
DON’T MAKE THINGS UP.
YOU DON’T LIKE A REPUBLICAN
POLITICIAN.
I’M JOKING.
ALL KIDDING ASIDE, I WAS TALKING
TO LARRY SUMMERS THIS MORNING,
AND THERE’S NOTHING INEVITABLE
ABOUT A RECESSION.
I’M WORKING WITH -- OUR TEAM HAS
PUT TOGETHER AT THE SAME TIME.
MY DEAR MOTHER USED TO HAVE AN
EXPRESSION.
SOMETHING GOOD WILL HAPPEN IF
YOU LOOK FOR IT.
WE HAVE A CHANCE TO MAKE A
FUNDAMENTAL TURN TO RENEWABLE
ENERGY.
>> GREG, YOU KNOW WHAT IT’S LIKE
WHEN YOUR FEET DON’T TOUCH THE
GROUND ON A BIKE, AND YOU STOP
AND CAN’T GET OFF GRACEFULLY.
MAYBE THAT HAPPENED.
>> HE’S A TALL FELLOW.
BIKES ARE TRICKY.
GENERALLY YOU COULD PEDAL THEM.
IF YOU STOP PEDALING, YOU WILL
FALL OVER.
THIS IS SOMETHING YOU LEARN,
HENCE THE TRAINING WHEELS.
SIMPLE STEP, WHEN YOU STOP
PEDALING, YOU PUT YOUR FEET ON
THE GROUND, AND YOU’RE SAFE.
IT’S NOT A BIG DEAL.
IN FACT, IT’S NOT A BIG DEAL AT
ALL.
YOU HAVE THIS INCLINATION FOR
PAYBACK, BECAUSE YOU HAD A
48-HOUR NEWS CYCLE ABOUT DONALD
TRUMP SHUFFLING DOWN A THING
WITH HIS NEW SHOES.
I’M HAPPY HE DIDN’T LEAVE HIS
BIKE ANYWHERE.
I MEAN, HUNTER LEFT HIS WILL
NOT, HIS WIFE LEFT A GUN, THEN
THE OTHER DAUGHTER LEFT A DIARY.
AT LEAST HE PICKED UP THE BIKE.
THE BIGGEST CRIME HAS NOTHING TO
DO WITH HIS BIKE.
IT’S HIS POPPED-UP COLLAR.
HE’S BECOME THE JESSE WATTERS OF
PRESIDENTS.
SERIOUSLY LOOKING AT THIS.
HOW CHEESY IS THIS?
WHAT’S NEXT?
IS JOE GOING TO TAKE OFF FRIDAYS
TO US INNER HIS BACK?
IS HE GOING TO EAT FOOD THAT
BELONGS TO THE STAFF?
IS HE GOING TO BLAME HIS
ASSISTANT FOR EVERYTHING?
YOU KNOW, THIS IS A SURE SIGN
THAT THIS PRESIDENCY IS OVER.
>> IT’S CERTAINLY LOOKING THAT
WAY.
>> I DID NOT SEE THAT COMING.
>> INSTEAD OF LETTING THE
EMBARRASSING MOMENT GO, RIGHT,
IF YOUR PRESIDENT IS ON A BIKE,
HE FALLS OVER, JUST TAKE THE "L"
FOR THE DAY.
DON’T GET ON TWITTER AND SAY,
"BUT TRUMP."
IT DOESN’T MAKE YOU LOOK GOOD.
THEY WERE TRYING TO SHOW VIM AND
VIGOR.
AND THEY PUT HIM ON A BIKE ON A
FOUR-DAY WEEKEND WHEN EVERYBODY
ELSE ACROSS AMERICA IS WORRIED
ABOUT INFLATION AND GAS PRICES.
EVERY WEEKEND IT’S A FOUR-DAY
WEEKEND FOR THEM AT THE BEACH.
>> PERMISSION TO SPEAK ON BEHALF
OF THE AMERICAN PEOPLE?
EVERYBODY WANTS OUR PRESIDENT TO
LOOK GOOD IN PUBLIC.
WE DON’T LIVE IN GREECE.
WE HAVE HIGH EXPECTATIONS FOR
PRESIDENTIAL PERFORMANCE.
WE LIKE OUR PRESIDENTS TO HAVE
GOOD HAIR, QUICK WIT, SOME
SWAGGER.
WE WANT SOMEONE TO LOOK GOOD ON
TELEVISION.
WE LIKED IT WHEN BARACK OBAMA
PLAYED FULL-COURT PICKUP
BASKETBALL.
WE LIKED IT WHEN TRUMP HITS IT
DOWN THE MIDDLE.
WE LIKE IT WHEN BUSH THROWS IT
DOWN THE MIDDLE.
OR BILL CLINTON PUTS HIS
SHORT-SHORTS ON AND GOES JOGGING
FOR GOD KNOWS WHAT.
BUT YOU ALSO HAVE TO BE
HANDSOME, LIKE JFK WAS VERY
HANDSOME, REAGAN WAS VERY
HANDSOME, MOVIE STAR.
WHEN YOU GET OUT THERE, FALL OFF
A BIKE.
THAT’S UNACCEPTABLE TO THE
AMERICAN PEOPLE.
WE ARE AGHAST.
AND IN A SENSE WE ALSO PITY THE
PRESIDENT.
I DON’T WANT TO PITY THE
PRESIDENT.
THAT MAKES MY JOB HARDER.
I LIKE TO DESPISE THE PRESIDENT.
THIS IS NOT A GOOD EMOTION FOR
ME.
INTERNATIONALLY THIS IS
HUMILIATING.
YOU CAN HEAR TRUDEAU SNICKERING
IF YOU POINT YOUR EAR NORTH.
ALMOST AS BAD AS BARACK OBAMA
BOWING TO THE SAUDI KING.
AT LEAST BARACK DIDN’T FALL ON
HIS FACE WHEN HE DID IT.
CONTENT IS KING.
THE WHITE HOUSE HAS TO KEEP
PUSHING OUT POSITIVE CONTENT.
WHAT’S SEARED INTO THE AMERICAN
PEOPLE?
A CHAOTIC EVACUATION FROM
AFGHANISTAN.
A PRESIDENT THAT HAS A MASK ON HIS TIME ALL THE TIME.
HIS TIME ALL THE TIME.
CAMMA LACACKLING, THE HIGH PRICE
OF GASOLINE, REMINDING US HOW
BAD THIS GUY IS.
HE GETS UP FROM THE FALL, AND
SAYS TO THE REPORTERS, "I’M
FINE."
THE REPORTERS PRINT THE STORY,
"JOE IS FINE."
JOE IS NOT FINE.
NOTHING IS FINE.
HE’S HAD TWO ANEURYSMS, BEFORE
HE BECAME PRESIDENT.
HE BROKE HIS FOOT LAST YEAR.
HE’S FALLEN TWICE.
SON IS CORRUPT, UNDER
INVESTIGATION.
HE’S THE WORST POLLED PRESIDENT
IN THE HISTORY OF PRESIDENTIAL
POLLING.
WE’RE SLIDING INTO A RECESSION.
PERMISSION TO MAKE AN ANALOGY.
>> SURE.
HOW CAN I STOP YOU?
>> IT’S LIKE DATING A GIRL.
READY?
SEX IS TERRIBLE.
YOUR FAMILY AND FRIENDS HATE
HER.
YOU GET INTO FIGHTS ALL THE
TIME.
YOUR BANK ACCOUNT HAS BEEN
DRAINED EVER SINCE YOU MET HER.
YOU WALK OVER TO HER APARTMENT
TO BREAK UP WITH HER, AND SHE
GOES, OH, WHAT ARE YOU DOING?
EVERYTHING IS FINE.
NO, EVERYTHING IS NOT FINE.
JOE BIDEN IS A CLUELESS MESS.
THIS IS NOT GOOD.
THIS IS AS CLOSE TO A
CONSTITUTIONAL CRISIS AS WE’VE
EVER.
>> PERMISSION WITHDRAWN.
>> I’VE HAD BETTER DURING
IMPEACHMENT, I THINK.
>> HAROLD, THE ONE NARRATIVE --
>> YOU’RE CALLING ON ME?
>> I’M CHANGING THE SUBJECT.
>> SKIP OVER TO THE JUDGE.
>> HERE’S THE THING THAT I THINK
IS AMAZING.
THE ONE NARRATIVE THAT’S
STARTING TO STICK, THEY DON’T
HAVE ANY NEW IDEAS.
ALL OF HIS PEOPLE TALK LIKE
ACADEMICS, WHO ARE BASICALLY
THROWING A WEIRD SLOGAN AGAIN
THE WALL.
THIS IS THE NEW LINE ON THE SPIN
THE WHEEL OF WHAT WE’RE GOING TO
SAY THIS WEEKEND.
IT WAS THAT A RECESSION IS NOT
INEVITABLE.
>> CHAIRMAN POWELL HAS SAID THAT
HIS GOAL IS TO BRING INFLATION
DOWN WHILE MAINTAINING A STRONG
LABOR MARKET THAT’S GOING TO
TAKE SKILL AND LUCK.
BUT I BELIEVE IT’S POSSIBLE.
I DON’T THINK THAT A RECESSION
IS INEVITABLE.
>> NOT ONLY IS A RECESSION NOT
INEVITABLE, BUT WHAT WE AS
POLICYMAKERS CAN DO IS TAKE
STEPS TO BUILD ON OUR UNIQUE
STRENGTHS IN THE AMERICAN
ECONOMY AND TRY TO GET TO THAT
STABLE AND STEADY GROWTH THAT WE
WANT TO GET TO AS QUICKLY AS
POSSIBLE.
>> INFLATION IS HAPPENING
GLOBALLY.
A RECESSION IS NOT NEVIN.
THE PRESIDENT REALLY WANTS TO
HAVE --
>> WHAT DO YOU THINK OF THAT,
HAROLD?
THE RECESSION IS NOT INEVITABLE
IS THE SELLING POINT.
>> THAT MEANS YOU HAVE TO DO
SOMETHING TO MAKE IT NOT
INEVITABLE.
>> THE PRESIDENCY IS AN OFFICE
AS DESIGNED AND INTENDED BY THE
FRAMERS TO BE AN OFFICE OF
ACTION.
SOME OF THE FRUSTRATION CALLS
FOR THE PRESIDENT TO ACT.
I HEAR YOU.
IF I WERE THE PRESIDENT, AND TO
QUOTE LARRY SUMMERS OFTEN, LARRY
SUMMERS IS ONE OF THOSE THOSE
ECONOMISTS WHO THINKS A
RECESSION IS NOT INEVITABLE.
WE CAN’T QUOTE HIM WHEN HE’S IN
FAVOR OF THINGS WE LIKE AND
IGNORE HIM OTHERWISE.
IF I WAS PRESIDENT, I’D CONVENE
EXECUTIVES AND STOP ATTACKING
THEM.
YOU CAN’T GO TO SAUDI ARABIA AND
TALK ABOUT OIL PRODUCTION AND AT
THE SAME TIME VILIFY OUR OIL
COMPANIES.
BRING THEM TOGETHER.
HOW CAN WE WORK TOGETHER?
I’D BRING MAYORS TOGETHER OF
CITIES, SAYING HOW CAN WE INVEST
IN YOUR CITIES TO BE BETTER
SUPPLY CHAIN SUPPORTERS AS WE
TRY TO WEAN OURSELVES OFF SOME
OF THIS DEPENDENCY WE HAVE
AROUND THE GLOBE. THESE ARE SOME.
THESE ARE SOME.
THINGS THAT NOT ONLY OPEN OPTICA
THE REPUBLICAN BEAT THE
DEMOCRATIC IN A HISPANIC
DISTRICT, AND THEN THE RECALL IN
SAN FRANCISCO AROUND CRIME.
I’D FOCUS ON ACTING AND USING
THIS OFFICE.
THE PRESIDENT, AS MUCH AS WE MAY
CRITICIZE THEM, THE GENERIC
POLLS LAST WEEK ON FOX 47-44
REPUBLICAN VERSUS DEMOCRAT.
THAT’S DOWN FOR REPUBLICANS THAN
IT WAS A FEW WEEKS AGO.
I DON’T KNOW WHAT’S HANDGUN, BUT
SOMETHING IS.
THAT DOES NOT NEGATE THE FACT
THAT YOU’VE GOT TO ACT.
>> YOU HAVE ALL THESE DEMOCRATS
NOW WHO ARE OPENLY SAYING HE
SHOULD NOT RUN AGAIN IN 2024.
>> YEAH.
THEY’RE OPENLY SAYING IT BECAUSE
THEY DON’T WANT TO LOSE, BECAUSE
THEY KNOW HE’S NOTHING MORE THAN
AN ANCHOR AROUND THEIR NECK.
I LIKE EVERYTHING YOU SAY,
HAROLD, BUT HERE’S A PROBLEM.
WE HAVE A PRESIDENT OF THE
UNITED STATES WHO DOESN’T KNOW
HOW TO LEAD, DOESN’T KNOW HOW TO
DO THOSE THINGS THAT YOU SUGGEST
THAT HE DOES.
LOOK, WHAT WE’VE GOT IS AN
ADMINISTRATION DOING NOTHING BUT
SIDING WITH THE PRESIDENT AND
GOING ON NATIONAL TELEVISION AND
LYING TO US ABOUT THE ECONOMY,
ABOUT INFLATION.
YOU THINK I WANT TO LISTEN TO
JANET YELLEN?
SHE’S THE ONE THAT SAID
INFLATION WAS TRANSITORY.
YOU GOT POWELL, YELLEN.
THEN JOE BIDEN COMES OUT AND
SAYS, OH, NO, A RECESSION IS NOT
INEVITABLE.
I JUST GOT OFF THE PHONE WITH
LARRY SUMMERS.
YEAH.
WHAT DID HE TELL YOU?
THAT YOU’RE LOSING OR THAT A
RECESSION IS COMING?
SO THIS ADMINISTRATION GIVES
ABSOLUTELY NO EVIDENCE OF WHAT
THEY ARE GOING TO DO TO PREVENT
THIS RECESSION FROM COMING.
ALL THEY DO -- THEY’RE LIKE A
BUNCH OF LITTLE GIRLS IN SCHOOL
WHO SAY, "JUST SAY THIS, TELL
THEM THIS, SAY THIS," AND ACT IF
IT’S THE TRUTH.
IT’S NOT THE TRUTH.
THE AMERICAN PEOPLE KNOW THAT
INFLATION IS AT 8.6% RATE.
THE FEDS ARE RAISING THE
INTEREST RATE.
CONSUMERS AREN’T AS INTERESTED
IN PURCHASING.
WE HAVE ONE-QUARTER OF NEGATIVE
GDP, AND WE’RE COMING TO THE
NEXT, QUARTER.
WHAT IS BIDEN’S ANSWER?
HE’S SO CLUELESS THAT MAN THAT
HE SEGUEWAYS TO ELECTRIC
VEHICLES.
THEY ASK HIM ABOUT THE
RECESSION, AND HE TALKS ABOUT
ELECTRIC VEHICLES.
I DON’T KNOW ANY VETERAN, ANY
SENIOR CITIZEN, ANYONE WORKING
PAYCHECK TO PAYCHECK, WHICH IS A
BIG PIECE OF THIS COUNTRY, WHO
HAS $60,000 TO BUY AN ELECTRIC
CAR.
HE’S TONE-DEAF.
EVERYTHING HE SAYS IS NOT
ACCURATE IN TERMS OF THIS
ECONOMY.
HE CAN’T LIE HIS WAY TO THE NEXT
ELECTION.
YOU JUST CAN’T.
AMERICAN PEOPLE ARE TOO SMART.
>> WE’LL TALK ABOUT CRIME NEXT,
BECAUSE THE CRIME CHAOS IS