♪.
LARRY: JOINING ME NOW,
CONGRESSMAN JASON SMITH OF
MISSOURI WHO IS THE RANKING
MEMBER OF THE HOUSE BUDGET
COMMITTEE.
JASON, GREAT TO SEE YOU.
THIS IS A PATHETIC BILL AS I
HAVE ARGUED IN MY OPENING AND
SENATOR PORTMAN AGREES.
IT’S A PATHETIC BILL.
THIS IS ABOUT BIG GOVERNMENT
SOCIALISM.
IT HAS NOTHING TO DO WITH
ECONOMIC GROWTH OR CAPITALISM,
FREEDOM OR LIBERTY OR ANY OF
THAT STUFF.
CAN I, A BUNCH OF THINGS I WOULD
LIKE TO KNOW ABOUT.
HERE YOU GOT WHATEVER IT IS
GOING TO BE 430, 450 BILLION OF
SUBSIDIES, GREEN TAX CREDITS,
ALL THE REST OF THAT STUFF.
DOES ANYBODY REALLY THINK THAT
WILL DO ANY GOOD IN TERMS OF THE
GLOBAL WARMING STORY?
DOES ANYBODY THINK THAT WILL
HELP ELECTRICITY POWER COSTS,
GASOLINE COSTS?
WHO ARE THEY KIDDING?
THIS IS HANDOUTS THIS IS
CORPORATE PORK.
IT HAS NOTHING TO DO WITH ANY OF
THIS STUFF.
>> LARRY, THIS BILL IS ABOUT
REWARDING THEIR WEALTHY
ENVIRONMENTAL FRIENDS AND
DONORS.
MORE THAN 50% OF ALL THE
SPENDING IN THIS PIECE OF
LEGISLATION GOES EXACTLY TO DO
THAT.
THERE IS $250 BILLION WORTH OF
LOANS THAT THEY CAN JUST HAND
OUT.
HAVE YOU EVER HEARD OF SOLYNDRA?
I MEAN, LARRY, THIS IS EXACTLY
THE MAKING, YOU SEE BILLIONS OF
DOLLARS FOR TREE EQUITY,
BILLIONS OF DOLLARS TO IMPLEMENT
THE EVERY ASPECT OF THE GREEN
NEW DEAL.
OVER $400 BILLION, IF YOU TAKE
AWAY THE FAKE SUNSETS, BUDGET
GIMMICKS WILL COST AMERICAN
TAXPAYERS $745 BILLION.
745 BILLION.
THIS ADMINISTRATION, THESE
DEMOCRATS, THEY BELIEVE THAT YOU
CAN SPEND YOUR WAY OUT OF AND
INFLATION CRISIS THAT THEY HAVE
CREATED BY ALL THIS RECKLESS
SPENDING.
I GUESS THEY ALSO BELIEVE THEY
CAN TAX OURSELVES OUT OF A
RECESSION SINCE THERE ARE
$613 BILLION WORTH OF TAXES IN
THIS HORRIBLE PIECE OF
LEGISLATION.
LARRY: SO, JASON SMITH, THERE IS
NO INFLATION REDUCTION IN THIS
BILL.
THAT HAS BEEN ALL THESE
GOVERNMENT MODELS HAVE SAID
THAT.
YOU’RE ALSO ADDING TO THAT THERE
IS NOT GOING TO BE ANY DEFICIT
REDUCTION.
THAT PROMISE IS A LIE.
THERE IS NOT GOING TO BE ANY
DEBT REDUCTION.
THAT PROMISE IS A LIE.
AND BY THE WAY, LET ME ADD ONE
MORE, JASON, JOE MANCHIN HANG AD
LOT OF HIS HAT, SAID DEMOCRATS
GIVE ME A VOTE ON FASTER
PERMITTING INCLUDING PERMITTING
FOR FOSSIL FUELS.
WELL IT WAS A REPUBLICAN IT WAS
DAN SULLIVAN’S RESOLUTION THAT
PASSED, MANCHIN VOTED FOR IT BUT
EVERY DEMOCRAT EXCEPT FOR
MANCHIN VOTED AGAINST IT.
THEN THE WHITE HOUSE PUT OUT A
VETO MESSAGE AGAINST IT.
SO MANCHIN, HE IS NOT GETTING
INFLATION REDUCTION, WILL NOT
GET THE DEFICIT REDUCTION, EVEN
NOT GOING TO GET HIS PERMIT
WHICH WAS HIS BIGGEST THING!
>> YOU KNOW, LARRY, IT SOUNDS
LIKE SENATOR MANCHIN BOUGHT SOME
OCEANFRONT PROPERTY IN ARIZONA
BECAUSE CLEARLY HE IS NOT
GETTING WHAT HE APPARENTLY
AGREED TO.
THIS PIECE OF LEGISLATION IS
OPPOSITE OF EVERYTHING THAT
SENATOR MANCHIN SAID.
BACK IN 2010, SENATOR MANCHIN
SAID THAT IN A TIME OF RECESSION
YOU SHOULD NEVER TOUCH THE TAX
CODE.
IN FACT THIS IS RAISING THE
TAXES ON HARD-WORKING AMERICANS.
MORE THAN 50% OF THE TAXES IN
THIS BILL ARE TAX INCREASES ON
PEOPLE WHO MAKE LESS THAN
$400,000 A YEAR.
$17 BILLION ALONE JUST ON PEOPLE
MAKING LESS THAN 200,000.
GUESS WHAT?
THE ENERGY INDUSTRY, THEY’RE
GETTING TAXED $12 BILLION.
SO THAT MEANS EVERY AMERICAN IS
GOING TO BE PAYING MORE TO FILL
UP THEIR CAR, TO HEAT THEIR
HOMES, AND TO PURCHASE THAT COAL
IN WEST VIRGINIA.
LARRY: LET’S GO WITH THAT, STAY
WITH THAT, THIS IS YOU KNOW
REGARDED, WHAT AL GORE SAID THIS
IS THE GREATEST THING TO FIGHT
CLIMATE CHANGE, 450 BILLION IN
SPENDING, WHATEVER THE NUMBER
IS, BUT WAIT A SECOND, THIS IS
MAJOR STEPS IN THE ATTACK AND
THE WAR AGAINST FOSSIL FUELS.
SO WE’RE SUPPOSED TO GO WITHOUT
FOSSIL FUELS IN, LET’S SEE, THIS
IS 2022, JASON, IN EIGHT YEARS.
AS I UNDERSTAND IT, NO FOSSIL
FUELS RELATED ELECTRICITY,
EITHER BY 2030 OR 2035.
AND THEN BY 2050 NO FOSSIL FUEL.
DOES ANYBODY BELIEVE THAT?
OUTSIDE OF OBSESSIVE LEFT-WING
DEMOCRATIC PARTY, ORDINARY
PEOPLE, MEN, WOMEN, CONSUMERS,
THEY REALLY BELIEVE THAT?
PEOPLE THAT WORK IN THE UTILITY
BUSINESS?
DOES ANYBODY BELIEVE THIS STUFF?
>> LARRY, NOT AT ALL.
EVERYDAY AVERAGE AMERICANS ARE
TRYING TO PUT FOOD ON THE TABLE,
CLOTHES ON THEIR BACKS AND THIS
LEGISLATION DOES THE COMPLETE
OPPOSITE.
IN FACT IT MAKES THEIR LIVES
MORE DIFFICULT.
IT IS ONLY CAUSING INFLATION TO
SKYROCKET MORE.
LARRY, WEDNESDAY, OF THIS WEEK,
THE NEW INFLATION NUMBERS ARE
GOING TO COME OUT.
AND WHAT IS THE SOLUTION THAT
THE DEMOCRATS AND JOE BIDEN
HAVE?
SPEND 745 BILLION MORE?
YOU WERE TALKING ABOUT WHETHER
IT DECREASES THE DEFICIT.
THE FIRST FIVE YEARS AFTER
PASSAGE OF THIS, IT INCREASES
THE DEBT $30 BILLION AND
90 PERCENT OF THEIR SO-CALLED
FAKE DEFICIT REDUCTION NUMBERS
DOESN’T EVEN TAKE IN EFFECT
UNTIL AFTER THE YEAR 2029,
LARRY.
THIS IS A JOKE.
THIS IS A SHAM.
THEY’RE JUST TRYING TO REWARD
THEIR POLITICAL BUDDIES WITH
$700 BILLION WORTH OF THEIR
GREENIE ITEMS RIGHT BEFORE THE
ELECTION.
BUT LET ME TELL YOU THE AMERICAN
VOTERS ARE NOT HAVING IT.
LARRY: SOCIAL SPENDING FOR
OBAMACARE WILL COST 270,
$80 BILLION OVER 10 YEARS.
I’M AMAZED THE CBO HASN’T SCORED
THAT FORMALLY.
THEN OF COURSE A FEW WEEKS
EARLIER WE HAD THE CHIPS PLUS
BILL WHICH IS GOING TO SPEND
CLOSE TO $300 BILLION OVER 10
YEARS, RIGHT?
SO WE’RE TALKING ABOUT A
TRILLION.
TRILLION IS NOT AS BAD AS FIVE
TRILLION.
WHEN YOU HAVE 8% INFLATION RATE,
A TRILLION DOLLARS IS A TRILLION
DOLLARS.
I’M JUST, I JUST FIND THIS TO BE
A HEAD-SCRATCHER.
THERE MUST BE SOMEBODY IN THE
DEMOCRATIC PARTY WHO IS WILLING
TO SPEAK UP ON THIS.
I MEAN, HE EITHER, EITHER
SPENDING IS INFLATION OR ITS
NOT.
IT CAN’T BE INFLATIONARY LAST
MONTH AND COUNTER INFLATIONARY
THIS MONTH, I’M SORRY.
>> IT DOESN’T MAKE SENSE.
IF YOU LOOK AT ITEMS PEOPLE ARE
GETTING FOR THE SPENDING IT IS
FOLKS WHO MAKE $300,000 A YEAR
THAT CAN GET A TAX CREDIT TO
PURCHASE A NEW ELECTRIC VEHICLE.
OBAMACARE SUBSIDIES FOR FOLKS
MAKING $300,000 A YEAR, IT’S NOT
ABOUT HELPING WORKING CLASS
FAMILIES.
IN FACT, WORKING CLASS FAMILIES
ARE THE ONE THAT IS PAYING FOR
THIS WITH TAX INCREASES.
IT IS ABSOLUTELY UNACCEPTABLE.
THEY COME UP WITH A FAKE NAME
SAYING INFLATION REDUCTION ACT.
NO, LARRY, THIS IS THE INFLATION
EXPANSION ACT.
IT IS A HORRIBLE BILL AND ANYONE
WHO HAS VOTED FOR THIS SHOULD BE
ASHAMED OF THEMSELVES.
LARRY: IT A PATHETIC BILL BUT
THE DEMOCRATIC PARTY HAS LOST
ANY SEMBLANCE NOW OF COMMON
SENSE.
YOU KNOW.
MANCHIN WAS BOUGHT OFF WITH
NOTHING.
SINEMA, GOT A LITTLE SOMETHING
ON CAPITAL INVESTMENT, OKAY, BUT
STILL, THEY HAVE LOST ANY
PRETENSE.
YOU’RE RIGHT, IT IS GOING TO BE
WORKING FOLKS WHO PAY FOR THIS
STUFF.
THE WORKING FOLKS WILL BE
ATTACKED BY THE IRS.
THE WORKING FOLKS WILL HAVE --
THE CORPORATE TAX HIKE WILL BE
PAID FOR BY, BOOING -- WORKING
FOLKS.
>> LARRY, 87,000 NEW IRS AGENTS
DOUBLING THE SIZE OF THE IRS
WITH THE $80 BILLION THEY HAVE
INVESTED, YOU CAN JUST LOOK AT
IT.
THEY’RE GOING AFTER THOSE
FARMERS, THEY WILL GO AFTER THE
SMALL BUSINESSES AND THOSE
FAMILIES BECAUSE THEY WANT TO
MAKE SURE THAT THOSE PENNIES IN
THEIR COUCH CUSHIONS ARE BEING
COUNTED.
THAT IS WHO THERE ARE GOING TO
BE HELD ACCOUNTABLE.
IT WILL NOT BE BILLIONAIRES
WHICH IS UNCONSCIONABLE.
LARRY: YEAH.
CONSERVATIVE GROUPS.
THEY WILL GO AFTER THE
CONSERVATIVE GROUPS LIKE THEY