LARRY: I’M HERE IN D.C.
MAYBE THE THE GREATEST STORY NEV
TOLD BUT WE’RE WORKING ON
RETURNING PROSPERITY TO AMERICA,
MAKING AMERICA GET THINKER, AT
AMERICA FIRST POLICY INSTITUTE.
TO TALK ABOUT THIS WHOLE STORY, TEXAS CONGRESSMAN, KEVIN BRADY
TEXAS CONGRESSMAN, KEVIN BRADY
AND STEVE MOORE, CHIEF ECONOMIST
AND OUGHT OF "GOVZILLA."
WHITE HOUSE SAYS THERE IS NO
RECESSION.
THE FACT IS FAV AFTER FACT,
THERE IS NO RECESSION.
WAY IT ON THE GET YOUR TAKE.
>> THE FIRST RESPONSE I WISH THE
WHITE HOUSE HAD A VACCINE FOR
DENIAL, BECAUSE THEY HAVE BEEN
SERIOUSLY BEEN INFECTED HERE.
ON INFLATION, ON THE WORKER
SHORTAGE, AND ON THE RECESSION.
AND, WE HAVE SHRINKING
ECONOMIES, SHRINKING PAYCHECKS,
SHRINKING WORKFORCE.
MOST AMERICANS FEEL LIKE THEY’RE
ALREADY IN A RECESSION AND IN MY
GUESS IS WE ALREADY ARE BUT
NONETHELESS, IT IS THEIR
MISMANAGEMENT.
THEY HAVE BUNGLED THIS ECONOMY.
I DON’T KNOW OF A PRESIDENT WHO
DROVE AN ECONOMY FASTER INTO THE
GROUND THAN JOE BIDEN.
LARRY: 18 MONTHS.
REALLY QUITE REMARKABLE.
>> DIDN’T TAKE LONG.
LARRY: HE INHERITED A 6% ECONOMY
WITH LESS THAN 2% INFLATION T
WAS A V-SHAPED RECOVERY COMING
OUT OF THE COVID PANDEMIC.
THEY BROUGHT IT DOWN WITH THEIR,
WITH THEIR RADICAL POLICIES.
>> THAT’S RIGHT.
AND DON’T FORGET WE WERE ENERGY
INDEPENDENT JANUARY OF 2021 FOR
THE FIRST TIME IN OUR LIFETIMES.
LARRY: YES.
>> THE IRONY OF THIS STORY THEY
TRIED TO TAKE RECESSION TALK OFF
THE TABLE, THAT ALL ANYBODY HAS
BEEN TALKING ABOUT.
IT TOTALLY BACKFIRED FROM A
COMMUNICATIONS STANDPOINT.
IT DOESN’T MATTER WHETHER YOU
THINK WE’RE IN A RECESSION OR
KEVIN DOES OR I DO OR THE MEDIA,
THE AMERICAN PEOPLE THINK WE’RE
IN A RECESSION.
WHEN YOU HAVE 80% OF AMERICANS
SAY THE ECONOMY IS HEADED INTO
THE WRONG DIRECTION.
THOSE ARE WORSE THAN JIMMY
CARTER NUMBERS, FOR HEAVEN’S
SAKE.
I PRAY EVERY NIGHT JOE MANCHIN,
I PRAY FOR JOE MANCHIN’S HEALTH
BECAUSE HE IS AN AMAZING SAVIOR.
I HOPE THAT JOE BIDEN CAN
SOMEHOW SHIFT HIS POLICIES IN
MORE PRO-GROWTH DIRECTION.
THEY HAVE BEEN REALLY AIMED AT A
BIG GOVERNMENT SOCIALIST AGENDA
AND IT NEVER WORKS.
LARRY: SO ALL THREE OF US WOULD
AGREE WITH THAT.
ALL THREE OF US KNOW HE WILL NOT
DO THAT HE HAD PLENTY OF CHANCES
TO RESET.
MAYBE IF THEY GET BLOWN UP IN
THE ELECTION MAYBE BUT I DON’T
REALLY THINK SO BUT, KEVIN,
LET’S ASSUME, WE WANT TO HAVE A
REGIME CHANGE IN ECONOMIC
POLICY, THAT IS WHAT WE’RE
GUNNING FOR.
THIS CONFERENCE WE HAD TODAY,
THIS SUMMIT FOR AMERICA FIRST,
THAT IS WHAT REALLY IS A REGIME
CHANGE.
WHAT WOULD YOU LIKE TO SEE?
>> YEAH.
IF WE WANT TO RESTORE
PRO-GROWTH, REALLY SUPPLY SIDE
GROWTH THAT CAN HELP WITH
INFLATION, YOU HAVE TO DO WHAT
WE HAVE ALL TALKED ABOUT BUT YOU
TWO ESPECIALLY YOUR WHOLE
LIFETIME, WE NEED TO CONTROL
SPENDING, NEED TO GET CONTROL OF
SPENDING.
DON’T FUEL INFLATION.
SECONDARILY WE NEED TO MAKE THE
LOWER TAX CUTS, ESPECIALLY FOR
FAMILY, MAIN STREET BUSINESSES
PERMANENTLY LOW, ESPECIALLY
RIGHT NOW WE SEE AROUND THE
WORLD OTHER COUNTRIES ARE
LOWERING THEIR BUSINESS RATES TO
FIGHT INFLATION.
WE SHOULDN’T BE RAISING OURS.
THIRDLY, WORKERS, LOOK THAT IS
THE CAPITAL WE NEED.
THEY’RE NOT BACK.
HUGE WORKER SHORTAGE.
CONTINUES THAT WAY.
I DON’T THINK WE GET THE SUPPLY
CHAIN CRISIS FIXED OR INFLATION
UNDER CONTROL WITHOUT HUMAN
CAPITAL, RECONNECTING PEOPLE TO
WORK.
OBVIOUSLY ENERGY INDEPENDENCE IS
KEY.
COST OF REGULATION.
PEOPLE FORGET ABOUT THIS, UNLESS
YOU’RE IN BUSINESS.
YOU KNOW HOW MORE EXPENSIVE IT
IS TODAY, YOU KNOW, TO OPERATE
YOUR BUSINESS AND THAT COMES
THROUGH IN HIGHER PRICES.
I THINK WE’RE, THINK I WE’RE
PRETTY MUCH ON THE SAME PAGE.
LARRY: I WAS RUNNING A PANEL
TODAY.
WE HAD LINDSEY GRAHAM AND
SENATOR LUMMIS.
IT WAS A GREAT PANEL, STEVE
SCALISE.
HERE REAL QUICK, ON THE
REGULATION STUFF IN 2021 BIDEN,
FEDERAL AGENCIES PUT UP
$201 BILLION WORTH OF NEW
REGULATORY COSTS.
THAT’S THREE TIMES WHAT OBAMA
DID IN HIS FIRST YEAR AND 40
TIMES WHAT TRUMP DID.
ACTUALLY TRUMP CUT REGULATION.
SO LAST ONE, STEVE, THE NET
PRESENT VALUE OF THESE
REGULATORY BURDENS COMES TO, GET
THIS, $2 TRILLION PER YEAR.
OKAY.
IT WILL TAKE 1% OF GDP RIGHT
OFF.
THAT IS, LITERALLY STRANGLING
AND CHOKING THE ECONOMY.
IT HAS GOT TO STOP.
>> WE WERE LOOKING AT THOSE
NUMBERS.
I THINK THE FINAL NUMBER FOR
TRUMP HE ELIMINATED EIGHT
REGULATIONS FOR EVERY NEW
REGULATION.
WE’RE NOT SURE, WE THINK RIGHT
NOW BASICALLY ABOUT 100 NEW
REGULATIONS FOR EVERY
DEREGULATION UNDER BIDEN.
HE IS MOVING THIS IN THE
OPPOSITE DIRECTION WHERE WE GOT
TO BE.
I WOULD JUST ADD TWO THINGS TO
WHAT YOU SAID, I’M A STEVE
FORBES FLAT TAX GUY.
FLATTEN, I KNOW YOU ARE TOO.
LET’S GET THERE THE OTHER ONE,
HOW ABOUT A PRO-ECONOMIC GROWTH,
IMMIGRATION POLICY WHERE WE GET
THE BRANIACS IN THIS COUNTRY,
YOU TALKED A LOT ABOUT THIS GET
THE BEST AND BRIGHTEST, THAT IS
WHAT MADE AMERICA GREAT.
WE NEED WORKERS RIGHT NOW.
LARRY: LEGAL WORKERS.
LEGAL WORKERS.
>> COME IN LEGALLY, CAN WE DO
THAT?
LARRY: TEACHING AMERICAN
HISTORY.
TRUMP GETS BLAMED FOR BEING
ANTI-IMMIGRANT.
WE HAD PROPOSED A VERY GOOD
PACKAGE WITH THE DEMOCRATS BLEW
OFF.
BY THE WAY YOU HAVE TO HAVE
BORDER PROTECTION.
HUH?
YOU’RE FROM TEXAS.
>> I REMEMBER THE PRESIDENT
MAKING CALLS ON OUR BEHALF
SHUTTING BACKDOOR OF ILLEGAL
IMMIGRATION.
FIXING THE FRONT DOOR, IT IS
REALLY BROKEN.
MAKING SURE PEOPLE WERE NOT
GETTING GREEN CARDS OF WHO THEY
KNEW, BUT BECAUSE OF SKILLS THEY
WERE BRINGING TO AMERICA.
IN RETURN FOR THAT LEGAL STATUS
FOR THE DREAMERS.
THAT BALANCED PACKAGE THAT WOULD
HAVE BEEN A GREAT FIRST STEP
TOWARDS SOLVING THIS.
EVERY DEMOCRAT VOTED AGAINST IT.
>> BECAUSE THE DEMOCRATS DON’T
WANT TO FIX THE IMMIGRATION
MESS.
THEY WANT TO USE IT AS A SWORD.
THIS IS ONE OF THE REASONS
HISPANICS ARE MOVING IN YOUR
STATE TO REPUBLICAN PARTY RIGHT
NOW.
>> IN A BIG, BIG WAY.
LARRY: HISPANICS WANT LEGAL
IMMIGRATION.
>> LEGAL, LEGAL.
LARRY: THERE IS POPULIST REVOLT
AGAINST THE CRAZINESS OF OVER
TWO MILLION.
>> NO DOUBT.
LARRY: KEVIN, BEFORE I LOSE YOU
I WANT TO TALK ABOUT DEVELOPING
AND PROMOTING A BALANCED BUDGET.
I THINK REPUBLICANS,
CONSERVATIVES, INDEPENDENTS,
SOME DEMOCRATS VERY
OLD-FASHIONED WOULD BE BASED ON
LOW TAXES REGULATIONS AND
GROWTH, BUT, BUT, BUT, WE HAVE
TO GO INTO THIS FEDERAL BUDGET
BECAUSE DEBT-TO-GDP WILL BE 125%
IN NEXT FEW YEARS THAT WILL BE
OUTRAGEOUS.
I HAVE NEVER BEEN A DEBT MONGER
HAWK UNTIL WE GOT TO THIS POINT.
125% OF GDP WE HAVE TO STOP THE
DEBT AND BALANCE THE BUDGET.
>> AS STRONG AS REVENUES ARE,
TAX REFORM, STRONGER ECONOMY
THAT ALONE WON’T DO IT, YOU HAVE
TO HAVE FISCAL CONSTRAINT.
LARRY, MY BELIEF IN THE MAJORITY
ONE THING I WOULD LOVE TO SEE US
TACKLE CHANGE THIS WHOLE BUDGET
PROCESS.
IF WASHINGTON WERE A
MANUFACTURING PLANT WE WOULD
MANUFACTURE SPENDING.
THAT IS WHAT WE’RE STEINED TO
DO.
SO IF YOU WANT TO MANUFACTURE
EFFICIENCY AND SAVINGS, YOU
CAN’T USE THE SAME PLAN AND
EXPECT DIFFERENT RESULT.
YOU REALLY NEED TO CHANGE.
RETOOL THE WAY WE BUDGET.
LARRY: CORRUPT PROCESS.
IT IS A TERRIBLE PROCESS.
>> IT IS HORRIBLE PROCESS.
LARRY: GOES BACK TO 1974 BY THE
WAY.
A LOUSY BILL.
>> DOESN’T HELP WHEN THEY PASS
THIS 200 BILLION BIG DOLLAR
WELFARE BILL, LARRY, WITH
REPUBLICAN SUPPORT.
LARRY: START A CHIP COMPANY, TAX
BREAKS, GOVERNMENT SPENDING, ALL
DISHEARTENING.
I DIDN’T WANT TO TALK ABOUT IT.
KEVIN IS HERE.
WE WANT TO BE UPBEAT AND REGIME
CHANGE IN ECONOMIC POLICY YOU A
GUY WITH THAT, KEVIN BRADY?
>> YES.