IT SHOWS BIDEN DID INHERIT A
V-SHAPED RECOVERY FROM TRUMP.
JOINING US NOW THE CAPITALIST
COME BACK AUTHOR, FORMER KKE
RESTAURANT OWNER, ANDY PUZDER.
GOOD TO HAVE YOU ON.
YOU HEARD HILLARY VAUGHN’S
REPORTING.
TREASURY SECRETARY DENYING
MASSIVE MONEY PRINTING AND
GOVERNMENT SPENDING IS CAUSING
INFLATION BUT IN A BOOK SHE
ADMITS YES IT DID DO THAT.
WHAT IS YOUR TAKE ON WHAT IS
GOING ON HERE?
>> YOU LITERALLY, THERE ARE
GRAPHS COMPARING INFLATION IN
THE UNITED STATES, TO INFLATION
IN THE OECD COUNTRIES, EUROPEAN
COUNTRIES AND CANADA.
YOU LITERALLY CAN SEE IT SURGE
THE VERY MONTH THEY PASSED THIS
AMERICAN RESCUE PLAN.
IT PUT CARE SEEN ON THE FIRE OF
INFLATION -- KEROSENE.
LARRY SUMMERS, JASON FURMAN,
STEVE RATTNER, ALL OBAMA ERA
ECONOMISTS THAT DON’T DO THIS,
INFLATION WILL SURGE.
THEY DID IT ANYWAY.
IT SURGED, WHAT SHE IS SAY
SOMETHING RIDICULOUS.
SHE KNOWS, SHE KNOWS THAT THE
AMERICAN RESCUE PLAN REALLY
DROVE INFLATION.
SAYING ANYTHING TO THE CONTRARY
IS JUST RIDICULOUS AT THIS
POINT.
ELIZABETH: ANDY, YOU BRING UP
EUROPE.
YOUR POINT IS WELL-TAKEN, EUROPE
IS NOT SEEING WHITE HOT
INFLATION THE U.S. IS.
YELLEN TODAY IS DEFENDING
BIDEN’S POLICIES, YOU KNOW,
BASICALLY SHE IS SAYING THAT
THIS WAS THE PRICE, INFLATION IS
THE PRICE YOU HAD TO PAY FOR YOU
KNOW, TEMPORARY DOWNTURN IN THE
FIRST QUARTER OF 2021 T WAS DOWN
AROUND 1%.
BUT THEN, SHE BASICALLY SAYING,
THAT WE NEEDED TO DO THIS
SPENDING AND POSSIBLY QUOTE,
RISK INFLATION AFTER THE
DEMOCRAT LOCKDOWNS DESTROYED
22 MILLION JOBS.
WHAT DO YOU THINK OF THAT?
>> SURE.
THAT IS JUST NOT TRUE.
IT IS JUST FALSE.
LOOK, DEMAND WAS WAY UP.
SAVINGS WERE WAY UP, WHEN BIDEN
BECAME PRESIDENT.
THE PROBLEM WAS SUPPLY.
THE PROBLEM WASN’T DEMAND.
THE PROBLEM WASN’T PEOPLE HAVING
MONEY.
THE PROBLEM WAS WE DIDN’T HAVE
ENOUGH GOODS.
IF YOU GIVE PEOPLE EVEN MORE
MONEY, IT IS OBVIOUSLY GOING TO
DRIVE INFLATION.
THE ONLY REASON THAT BIDEN DID
THIS BECAUSE HE FELT LIKE TRUMP
AND REPUBLICANS WERE GOING TO
TRY TO TAKE CREDIT FOR THE CASH
DISTRIBUTIONS THAT WERE MADE
DURING THE PANDEMIC.
HE WANTED TO BE ABLE TO SAY HE
PUT SOME MONEY IN PEOPLES
POCKETS.
THIS WAS ALL POLITICAL.
IT MADE NO SENSE AT THE TIME.
EVERYBODY KNEW IT MADE NO SENSE.
YELLEN SHOULD HAVE KNOWN IT MADE
NO SENSE BUT THEY DID IT ANYWAY.
ELIZABETH: IT IS WILD.
HOUSE DEMOCRATS LED BY
NANCY PELOSI TOMORROW ARE GOING
TO PUSH FOR EVEN MORE SPENDING.
THEY WANT TRILLIONS MORE
SPENDING.
WE HAVE THE STATES ON OTHER
HAND, STATES LIKE MISSISSIPPI,
IOWA, KANSAS, KENTUCKY, TALKING
ABOUT CUTTING TAXES.
SO THE STATES ARE GOING IN A
DIFFERENT DIRECTION.
ANDY, WE HAVE THE MEDIA, THEY’RE
TURNING AGAINST BIDEN SAYING HE
SHOULD NOT RUN AGAIN.
YOU’VE BEEN IN THE WHITE HOUSE.
WHEN DOES THAT CRESCENDO CREATE
A TURNING POINT?
>> I TELL YOU I PRAY EVERY
MORNING THAT BIDEN WILL RUN
AGAIN.
I HOPE HE IS THE NOMINEE NEXT
TIME AROUND.
I THINK THE MEDIA IS ACTUALLY,
ALWAYS BEEN LEFT-LEANING, THEY
THINK BIDEN RUNNING WILL BE A
DISASTER FOR THE DEMOCRAT PARTY.
WHAT IS HAPPENING IN THE
WHITE HOUSE, PEOPLE ARE LEAVING
THE WHITE HOUSE.
THEY’RE DEPRESSED BECAUSE THEY
HAVE GOT A MYRIAD OF PROBLEMS
THEY HAVE TO ADDRESS.
THERE IS CRISIS AFTER CRISIS.
ALL THE PRESIDENT CAN SEEM TO DO
IS BLAME OTHER PEOPLE, MAKE
EXCUSES AND COMPLAIN.
IT IS TIME FOR THE WHITE HOUSE
TO START COMING UP WITH
SOLUTIONS BUT THIS PRESIDENT
CAN’T DO THAT BECAUSE HE IS HELD
BACK BY THE LEFT, THE FAR
LEFT-WING OF HIS PARTY THAT
WANTS TO SPEND AND SPEND AND
SPEND.
WHICH IS WHAT IS CREATING THESE
PROBLEMS WE’RE FACING.
THE AMERICAN PEOPLE KNOW IT.
ELIZABETH: NOW YOU’VE GOT
LATE-NIGHT TV EVEN COMING OUT
YOU KNOW, POKING FUN AT THE
PRESIDENT.
LET’S WATCH STEPHEN COLBERT
HERE.
WATCH THIS.
>> BUT THE WHITE HOUSE HAS A
PLAN.
PUT JOE ON THE ROAD TO HIGHLIGHT
PROGRESS BEING MADE AND LET
BIDEN BE BIDEN.
YES.
WE’RE GETTING SOME JOE CLASSIC
BUT COVER YOUR KIDS EARS, BIDEN
HAS BEEN SO FRUSTRATED
REPORTEDLY RESORTED TO SALTY
LANGUAGE.
GOT STUCK IN BUTTER CHURN.
I’M HOPPING BACK IN THE
CORVETTE.
WAIT.
GAS IS HOW MUCH?
[LAUGHTER]
WHO THE [BLEEP] IS THE
PRESIDENT?
ELIZABETH: VERY FUNNY.
RIGHT?
>> THAT WAS GOOD.
COLBERT -- COLBERT IS GOING
AFTER THE DEMOCRATS.
HE IS GOING AFTER THE PRESIDENT,
YOU KNOW THINGS ARE BAD.
I HOPE PEOPLE ARE FEEL FREE TO
MAKE FUN OF THE PRESIDENT.
YOU SHOULD ALWAYS FEEL FREE TO
MAKE FUN OF OTHER PEOPLES
POLITICS.
THAT SHOULDN’T BE SOMETHING
PROHIBITED BUT THIS IS CLEARLY A
SIGN THAT THE LEFT REALIZES THEY
HAVE GOT A PROBLEM AND THEY DO