ELIZABETH: EDWARD LAWRENCE
THANKS FOR YOUR GREAT JOURNALISM
AS ALWAYS.
JOINING US NOW HOUSE BUDGET
RANKING MEMBER, JASON SMITH AND
FORBES MEDIA CHAIR
EDITOR-IN-CHIEF STEVE FORBES.
CONGRESSMAN.
GREAT TO HAVE YOU BOTH ON.
THANKS FOR SPENDING TIME WITH US
TONIGHT.
CONGRESSMAN, WE HAD A REAL UGLY
DAY ON THE MARKET.
WE HEARD TREASURY SECRETARY
JANET YELLEN SAY THEY’RE DOING
ALL THEY CAN TO LOWER ENERGY
PRICES.
DO YOU BRIEF THAT?
>> ABSOLUTELY NOT.
LOOK THAT WE HIT RECORD GAS
PRICES.
GAS PRICES ARE UP 90% SINCE
JOE BIDEN TOOK THE OATH OF
OFFICE.
EVERY STATE HAS HIT OVER $4 A
GALLON.
CALIFORNIA IS AT SIX.
THIS ADMINISTRATION IS DOUBLING
DOWN ON THEIR FAILED POLICIES.
I MEAN PRESIDENT BIDEN WAS VERY
CLEAR DURING THE CAMPAIGN.
HE WANTED TO DESTROY, U.S. OIL
INDUSTRY AND THAT IS WHAT HE IS
DOING.
ELIZABETH: TO THE CONGRESSMAN’S
POINT, STEVE, LOOKS LIKE THE
PRESIDENT IS GETTING RID OF
BIDEN’S DISINFORMATION BOARD,
THAT IS THE NEWS THAT BROKE
TODAY.
WILL GET RID OF ANYBODY ELSE IN
HIS TEAM OR DOUBLE DOWN BIDEN
AND STICK WITH FAILED POLICIES.
>> HE WILL STICK WITH THE FAILED
POLICIES UNTIL HE IS THRASHED IN
NOVEMBER.
HE WILL GET PRESSURE FROM
REMAINING DEMOCRATS TO CHANGE
COURSE.
THEY’RE LOOKING 2024, A NUMBER
OF SENATORS COMING UP FOR THE
DEMOCRATIC PARTY.
THEY’RE LOOKING FOR A WIPEOUT IN
2024.
ONLY WHEN THEY LOSE AN ELECTION
WILL THEY CHANGE.
THEY WILL STAY IN THE BUBBLE AND
TALK HAPPY TALK AND NONSENSE
WE’VE BEEN GETTING.
ELIZABETH: WE GOT YOU, STEVE.
THE OTHER THING, TRUMP’S
CANDIDATES DID PRETTY DECENTLY,
CONGRESSMAN.
MADISON CAWTHORN LOST AND OZ IS
IN POSSIBLE RECOUNT IN
PENNSYLVANIA.
THE OTHER CANDIDATES THAT HE
BACKED, TRUMP, DISTICKET OF
BACKING SOLID WINNERS WE KNEW
SOME OF THESE CANDIDATES WERE
INCUMBENTS, WOULD WIN ANYWAY,
LOOKS LIKE TRUMP, HIS CHOICES
ARE ON FIRE.
LISTEN TO TRUMP ON THE ECONOMY
AND THIS, MAGA, WATCH.
>> OVER FOUR INCREDIBLE YEARS WE
ACCOMPLISHED MORE THAN ANYONE
THOUGHT EVEN POSSIBLE.
TOGETHER WE WERE ULTRAMAGA,
BIDEN DID, YOU KNOW WE’RE THE
ULTRAMAGA, THE ULTRAMAG GAM I
SAID BOY THAT SOUNDS GOOD.
HE SAID THAT, ULTRAMAKE AMERICA
GREAT AGAIN.
THAT IS GOOD.
I LIKE THAT BETTER.
WE’LL NEVER GET RID OF MAGA,
MAGA.
ELIZABETH: YOU KNOW WHAT?
WE KNOW THE CAPITOL RIOTS WERE
HIDEOUS, CONGRESSMAN, WERE
AWFUL, SHOULD NEVER HAPPEN
AGAIN.
WHAT THE PRESIDENT WAS SAYING
DURING THOSE RIOTS WERE WRONG,
WHAT PRESIDENT TRUMP WAS SAYING.
HE IS ENTERTAINING.
HE MAKES YOU FEEL GOOD ABOUT THE
ECONOMY, HE MAKES YOU FEEL GOOD
ABOUT BEING AN AMERICAN.
HE IS POSITIVE FOR THE COUNTRY.
PEOPLE CAN’T DENY THAT,.
>> LIZ, HE BELIEVES IN PUTTING
AMERICA FIRST AND CRISES AFTER
CRISES WITH THIS ADMINISTRATION
CREATED, THE ENERGY CRISIS,
AFGHAN CRISIS, YOU NAME THIS,
EVERY CRISIS THIS ADMINISTRATION
CREATED HAS MADE IT DIFFICULT ON
WORKING CLASS AMERICANS.
YOU KNOW WHAT?
THEY MISS PRESIDENT TRUMP.
THE REASON WHY PRESIDENT TRUMP
IS DOING SO WELL IN ALL THE
ENDORSEMENTS ACROSS THE COUNTRY
BECAUSE THE AMERICAN PEOPLE
TRUST HIM.
THEY BELIEVE IN HIM.
AND THEY, THEY MISS HIM.
ESPECIALLY HIS POLICIES.
ELIZABETH: TO WHAT THE
CONGRESSMAN IS SAYING, STEVE,
WE’VE GOT MORE SMASH MOUTH
POLITICS FROM BIDEN AND NANCY
PELOSI.
WE DON’T KNOW IF THE REPUBLICANS
CAN STAND UP TO THAT.
THEY HAVE BEEN DIVIDING,
ATTACKING, NOT UNITING.
MORE THAN SEVEN OUT OF 10 SAY
AMERICA IS HEADING IN THE WRONG
DIRECTION.
BIDEN WAS SUPPOSED TO UNITE.
HE HAS NOT HEALED THE COUNTRY.
HE MADE THINGS WORSE.
ELON MUSK IS SAYING, HE USUALLY
VOTES DEMOCRAT.
HE WILL QUIT THE DEMOCRAT PARTY
BECAUSE THEY ARE FULL OF
DIVISION AND HATE.
WHAT DO YOU THINK OF THAT?
>> I THINK IT UNDERSCORES WHAT
THIS ADMINISTRATION HAS DONE OR
NOT DONE.
EVERYTHING THEY TOUCHED TURNED
TO YOU KNOW WHAT.
WHETHER CRIME, THE BORDER,
INFLATION, I HAVE A BOOK OUT ON
INFLATION WHICH IS GETTING WORSE
BECAUSE OF THE POLICIES OF THIS
ADMINISTRATION AND A FEDERAL
RESERVE THAT WANTS TO ENGINEER A
SLOWDOWN IN THE ECONOMY.
SO YOU PUT THAT TOGETHER WE’RE
SUFFERING UNNECESSARILY.
NONE OF THIS HAD TO HAPPEN.
ELIZABETH: YOU KNOW TO STEVE’S
POINT, WE HEAR FROM WALL STREET,
WE HEAR FROM BANK OF AMERICA,
CONGRESSMAN, MORGAN STANLEY,
GOLDMAN SACHS, GOLDMAN SACHS IS
TALKING ABOUT PUNITIVE
INFLATION.
OBAMA OFFICIAL, LARRY SUMMERS,
JASON FURMAN, THEY HAVE ALL BEEN
TALKING ABOUT IT, BUT
CONGRESSMAN, THERE IS A WAY OUT
OF THIS.
WE CAN FIX THE ECONOMY.
THE CRISES ARE MAN-MADE.
HOW WE GOVERN OURSELVES.
HOW WOULD YOU FIX THE ECONOMY,
HOW WOULD YOU FIX INFLATION?
>> FIRST OFF THIS ADMINISTRATION
BELIEVES THE WAY YOU FIX
INFLATION IS TO SPEND ANOTHER
FIVE TRILLION DOLLARS?
YOU CAN’T INFLATE YOURSELF OUT
OF INFLATION.
YOU CAN’T SPEND YOUR WAY OUT OF
INFLATION.
STOP THE SPENDING.
EVEN DEMOCRATIC ECONOMISTS SAID
IF YOU PASS THE TWO TRILLION
DOLLAR AMERICAN RESCUE PLAN THAT
WOULD LEAD INTO UNSEEN INFLATION
IN A GENERATION.
THAT IS EXACTLY WHAT HAS
HAPPENED.
STOP THE SPENDING.
GROW THE ECONOMY.
UNFORTUNATELY THIS
ADMINISTRATION IS SHRINKING THE
ECONOMY.
WE SAW THAT LAST QUARTER WITH
THE GDP FALLING 1.4%.
IT IS A DISASTER.
EVERY POLICY THEY TOUCH THEY
CREATE A CRISIS.
ELIZABETH: STEVE, WE’VE GOT FOUR
NEW STATES NOW DOING FLAT TAXES.
ARIZONA, GEORGIA, IOWA,
MISSISSIPPI.
BUT THE WHITE HOUSE, DEMOCRATS
CLAIM THAT RAISING TAXES IS A
FIX FOR INFLATION.
WE FEEL LIKE WE’VE FALLEN
THROUGH THE MIRROR AND WE’RE ON
THE OTHER SIDE OF THE LOOKING
GLASS.
THERE IS A WAY OUT OF THIS BUT
NOT WITH THIS CROWD.
SHOULD HE BE FIRING MORE OF HIS
TEAM?
>> HE SHOULD START BY FIRING
HIMSELF FOR PUTTING THAT TEAM IN
THE FIRST PLACE BUT THAT’S NOT
GOING TO HAPPEN.
IF HE GETS A NEW TEAM ARE THEY
WILL BE BETTER PLAYERS
UNDERSTANDING WHAT WILL MAKE
AMERICA GROW RATHER THAN PUTTING
IT BEHIND THE EIGHT BALL?
ALL THEY HAVE TO DO IS RESURRECT
THE POLICIES OF TRUMP AND
RONALD REAGAN, CUT TAXES, MORE,
HAVE REAL DEREGULATION AND
STABLIZE THE DOLLAR INSTEAD OF
UNDERMINING IT.
TELL THE FEDERAL RESERVE WE
DON’T NEED RECESSION TO CURE
INFLATION.
ELIZABETH: YOU DON’T.
YOU DO NOT NEED RECESSION TO
CURB INFLATION PERIOD.
YOU -- DOLLAR IS DOING VERY WELL
BUT WE’RE THROWING TRILLIONS OF
DOLLARS OF HOT MONEY INTO AN
ECONOMY THAT WAS LOCKED UP UNDER
DEMOCRAT SHUTDOWNS AND JUST
REOPENING WITH 11 MILLION FEWER
WORKERS.
THE WAY TO MOP UP INFLATION,
CONGRESSMAN, IS TO UNLEASH U.S.
MANUFACTURING, UNLEASH U.S.
FACTORIES, UNLEASH U.S. ENERGY.
WE NEED TO MOP UP INFLATION WITH
MORE ECONOMIC ACTIVITY.
WE WANT TO PLAY A SOUND BITE
FROM THE PREMIER OF CANADA’S
ALBERTA.
HE IS SAYING TO THE WHITE HOUSE
WHY ARE YOU GOING TO RUSSIA AND
IRAN AND VENZ?
COME TO CANADA.
BUY OUR OIL.
CUT IT OUT WITH SHUTTING DOWN
KEYSTONE PIPELINE AND MORE.
WATCH THIS.
>> VLADMIR PUTIN BRUTAL INVASION
OF UKRAINE IS PROVING DANGER OF
ALLOWING DICTATORS TO WEAPONIZE
OIL WEALTH.
WE WERE FRANKLY SO TAKEN ABACK
WHEN PRESIDENT BIDEN VETOED THE
KEYSTONE XL PIPELINE.
IT WOULD HAVE SAFELY
DELIVERED30,000-BARRELS A DAY OF
RESPONSIBLY PRODUCED CANADIAN
ENERGY TO THE U.S., MORE THAN
DISPLACING 70,000-BARRELS ADAY
YOU BOUGHT FROM PUTIN’S RUSSIA.
WE WERE ALSO PERPLEXED WITH THE
ADMINISTRATION RESPONSE TO
SKY-HIGH GAS PLACES WAS TO PLEAD
WITH OPEC TO PRODUCE AND SELL
MORE OIL WHILE WORKING TO LIFT
SANCTIONS ON DICTATORSHIPS LIKE
IRAN AN VENEZUELA.
WELL, SENATORS, CALGARY IS A LOT
CLOSER TO WASHINGTON THAN
RIYADH.
ELIZABETH: YEAH.
SO WHAT ARE THEY DOING,
CONGRESSMAN?
>> THIS ADMINISTRATION’S WAR ON
U.S. ENERGY DOESN’T JUST STOP AT
OUR BORDERS.
THEIR WAR ON ENERGY FROM OUR
ALLIES APPARENTLY, APPARENTLY
THEY WANT TO BE BEHOLDEN TO
SOCIALIST NATIONS LIKE VENEZUELA
AND IRAN.
IT IS UNACCEPTABLE.
THEIR POLICIES ARE DISASTER AN
THEY ARE HURTING WORKING CLASS
AMERICANS.
ELIZABETH: STEVE, FINAL WORD.
>> TRUST AMERICA, NOT WASHINGTON
POLITICIANS.
WE GOT TO GET A NEW TEAM AND
IT’S COMING IN NOVEMBER WITH THE
CONGRESS.
THEN HOPEFULLY IN THE
WHITE HOUSE.