WORSE FROM HERE.
JOINING ME RIGHT NOW IS THE
COALITION TO PROTECT AMERICAN
WORKERS EXECUTIVE DIRECTOR AND
FORMER CHIEF OF STAFF TO VICE
PRESIDENT MIKE P PENCE, MARK SHO
IS HERE.
THANK YOU VERY MUCH FOR BEING
HERE.
WHAT’S YOUR REACTION TO ALL OF
THAT?
>> WELL, GOOD MORNING, MARIA.
I THINK THE REALITY OF COURSE IS
THAT AMERICANS ARE FEELING THE
COST OF HIGHER PRICES, WHETHER
OR NOT IT’S PUTTING FOOD ON THE
TABLE OR TRYING TO FILL UP YOUR
GAS TANK.
THERE’S NO SIGNAL THAT THAT’S
GOING TO CHANGE ANY TIME SOON.
AND THE REALITY IS THAT YOU KNOW
AS WELL AS EVERYBODY ELSE THAT
AS THE FED LOOKS TO TIGHTEN
SIGNIFICANTLY THIS YEAR,
TYPICALLY THAT LEADS TO LESS
ECONOMIC GROWTH AND SO WE’RE
PROBABLY IN NOT JUST FOR A
PERIOD OF HIGHER INFLATION BUT
ULTIMATELY TO SLOWER ECONOMIC
GROWTH WHEN WE TRY TO SOLVE THE
INFLATION PROBLEM.
MARIA: YEAH.
I WANT TO GET YOUR TAKE ON THIS
REPORT I’M LOOKING AT.
THIS IS FROM ANDY LA PIERRE FROM
PIPER SANDLER.
HE SAYS WHILE UNLIKE IF IN
PREVIOUS PERIODS OF MARKET
TUMULT OR DETERIORATING ECONOMY,
THERE’S A COMPLETELY DIFFERENT
BACKDROP HERE THAT WILL IMPACT
THINGS AND THAT IS THAT THE
GOVERNMENT HAS NO CONTROL OR
LESS CONTROL IN TERMS OF FIXING
THINGS BECAUSE OF THE DEBT THAT
WE HAVE.
SO WE’RE WAITING ON GDP NUMBER
HERE WHICH IS GOING TO SHOW A
SHARP DECLINE IN GROWTH.
WE’RE GOING FROM UP 6.9% TO UP
1.1% FOR THE FIRST QUARTER.
WHAT CAN YOU DO ABOUT IT IN
TERMS OF POLICY?
>> WELL, MARIA, I THINK WE
ACTUALLY ARE FACING A SITUATION
NOW WHERE GDP, DEBT TO GDP IS
OVER 100% AND THIS IS THE FIRST
TIME SINCE WORLD WAR II THAT YOU
ACTUALLY HAVE THE SERVICING THE
DEBT IS GOING TO BECOME ONE OF
THE HIGHEST PORTIONS OF OUR
FEDERAL BUDGET WHEN INTEREST
RATES BEGIN TO GO UP.
I DO THINK THERE’S A POLICY THAT
CAN BE CHANGED.
YOU CAN STOP SPENDING SO MUCH.
WHEN HAVE YOU HAVE TRILLIONS AND
TRILLIONS OF DOLLARS IN DEFICIT,
REACHING $30 TRILLION IN DEBT,
THE WAY TO FIX IT IS TO STOP
SPENDING SO MUCH SO THERE ARE
POLICY SOLUTIONS THAT CAN BE --
THAT CAN HELP FIX THE PROBLEM.
MARIA: YEAH.
I MEAN, ANDY WRITES IN TERMS OF
A POLICY RESPONSE TO A POTENTIAL
RECESSION, THE FEDERAL
GOVERNMENT IS IN IN THE WORST
POSITION TO SUPPORT THE ECONOMY
IN MANY DECADES A.
THIS REPORT JUST COMING OUT TO
CLIENTS THIS MORNING.
AND NOW THIS EXCLUSIVE ON FOX
BUSINESS, ADVANCING AMERICAN
FREEDOM LAUNCHING THEIR THIRD
PHASE IN A CAMPAIGN TO TARGET
DEMOCRATS DEMANDING SUPPORT FOR
U.S. ENERGY END UNDER PENS.
-- INDEPENDENCE.
THERE’S AN AD WHICH FEATURES A
WOMAN WHO FLED SOCIALISM IN
VENEZUELA, SLAMMING BIDEN FOR
CONSIDERING BUYING OIL FROM THE
COMPANY’S DICTATOR AS AN OIL
REFINER IN HOUSTON BACKS ONE OF
THE LATEST TO CLOSE IN AMERICA.
THIS SPEAKS DIRECTLY TO POLICY.
THE POLICY WE’RE SEEING HAS
ACTUALLY HURT THE ECONOMY.
>> RIGHT, MARIA.
WHAT THEY EXPLAIN IN THE
COMMERCIAL IS THE FAMILY FLED
THE CHAVEZ REGIME.
SOCIALIST REGIMES IN VENEZUELA
PERSECUTE INDIVIDUALS THERE.
SHE FLED TO AMERICA AND MADE A
LIFE FOR HER FAMILY HERE.
SHE IS SAYING, YEAH, THERE’S AN
ECONOMIC PROBLEM THAT WE FACE
THAT COULD BE FIXED BUT THERE’S
ALSO A NATIONAL SECURITY
COMPONENT TO THIS, MARIA.
IT’S NOT JUST LOOKING TO TRY TO
GET OIL FROM VENEZUELA AND
DICTATORS THERE.
THIS ADMINISTRATION IS ALSO
TRYING TO GET OIL FROM IRAN.
IT’S WHY THEY’RE SO DESPERATE TO
STRIKE AN IRAN NUCLEAR DEAL, TO
PUT THE OIL BACK ON THE MARKET.
THAT’S WHYSAUDI ARABIA WON’T RET
CALLS.
YOU HAVE A NATIONAL SECURITY
COMPONENT TO THIS AS WELL.
ONE OTHER PART THAT GETS LESS
COVERAGE, IS WHEN YOU HEAR PETE
BUTTIGIEG AND SECRETARY GRANHOLM
LECTURE THE AMERICAN PEOPLE, THE
WAY TO SOLVE THIS IS TO GO BUY
AN ELECTRIC VEHICLE WHERE THE
AVERAGE COST IS $52,000 AND
THESE GUYS ARE BEING DRIVEN
AROUND WASHINGTON, D.C. IN
GOVERNMENT VEHICLES WITH
GOVERNMENT DRIVERS.
WHAT THEY’RE FAILING TO EXPLAIN
TO THE AMERICAN PEOPLES IS THAT
OVER 80% OF THOSE BATTERIES FOR
ELECTRIC VEHICLES ARE MADE IN
COMMUNIST CHINA, 90% OF THE RARE
EARTH MATERIALS MADE FOR
ELECTRIC VEHICLES ARE
MANUFACTURED OR HARVESTED IN
RUSSIA AND CHINA.
THE REALITY IS, THIS IS A HUGE
ECONOMIC CRISIS BUT THEY’RE
COMPOUNDING IT WITH A NATIONAL
SECURITY COMPONENT WHICH IS WHAT
THEY TALK TO IN THE COMMERCIAL.
MARIA: THAT IS SUCH A GREAT
POINT, MARK.
AND I’M SO GLAD YOU MADE IT
BECAUSE TAMMY, WE’VE ALREADY
SEEN UP CLOSE AND PERSONAL WHAT
IT MEANS WHEN YOU START RELYING
ON ADVERSARIES FOR SOMETHING AS
IMPORTANT AS OIL OR NATURAL GAS.
YOU’VE GOT THE RUSSIANS RIGHT
NOW AS WE SPEAK BLACKMAILING
POLAND AND BULGARIA, SAYING
WE’RE NOT GOING TO SEND YOU THE
NATURAL GAS.
>> NO OIL OR GAS FOR THEM.
MARK, GREAT TO SEE YOU.
THIS IS WHILE THE HOUSTON
REFINERY IS OFF AND WE’RE GOING
TO VENEZUELA.
JUST ON MONDAY, THE BIDEN
ADMINISTRATION STOPPED AND
REVERSED THE TRUMP PLAN TO
EXPAND OIL EXPLORATION AND
DRILLING IN THE NATIONAL
PETROLEUM RESERVE IF IN ALASKA
WHICH IN 1923 WAS ESTABLISHED
SPECIFICALLY AS AN EMERGENCY OIL
RESERVE.
SO HE IS SHUTTING DOWN.
BY THE WAY IN 2019 IT GENERATED
56 MILLION IN OIL AND GAS
REVENUE.
THEY’RE SAYING IT’S THE CLIMATE
CRISIS.
AND SO THEY’RE JUST -- THEY’RE
SHRINKING IT DOWN.
IT’S NOT GOING TO HAPPEN.
WHILE WE CONTINUE TO HAVE THIS
OIL AND GAS PROBLEM, THE
INFLATION WITH GAS
TRANSPORTATION AND EVERYTHING
ELSE.
IT ALMOST MAKES IT SEEM AS
THOUGH THIS IS WHAT THEY WANT TO
DO, THAT THEY’RE HOBBLING THE
UNITED STATES DELIBERATELY AND
IN THE MEANTIME YOU’VE GOT --
WE’RE ALL DEALING WITH THE
INFLATION, WITH OIL THAT AFFECTS
THOUSANDS OF PRODUCTS, NOT JUST
WHEN IT COMES TO TRANSPORTATION.
SO THIS REALLY I THINK SIGNALS
WHAT THE INTENTIONS OF THE BIDEN
ADMINISTRATION ARE.
AND TO SAY -- YOU KNOW WHAT ELSE
IS REALLY GOING TO HURT THE
CLIMATE, MARIA, EVEN A LIMITED
NEW CLEAR EXCHANGE IN EASTERN
EUROPE.
YOU WANT BAD CLIMATE, YOU WANT
GLOBAL CLIMATE CHANGE, A NUCLEAR
WINNER THAT’S GOING TO BRING IT
TO YOU AND IT’S BECAUSE OF THESE
POLICIES.
MARIA: FINAL WORD, MARK.
REAL QUICK.
>> REAL QUICK.
COUPLE POINTS.
ONE IS THIS MONTH DEMOCRATS IN
CONGRESS WERE LECTURING
PRODUCERS IN AMERICA SAYING WHY
WON’T YOU COMMIT TO PRODUCING
LESS FOSSIL FUELS.
YOU HEARD JEN PSAKI SAY WE HOPE
THIS ENERGY CRISIS WILL GET
PEOPLE TO SHIFT TO RENEWABLE
FUELS AND ELECTRIC VEHICLES.
IT’S WHAT THEY WANT.
>> EXACTLY.
>> THEY’RE DRIVING THE POLICY.
>> YEAH.
MARIA: ALL RIGHT.
WE WILL LEAVE IT THERE.
GREAT CONVERSATION, GUYS.
THANK YOU SO MUCH.
MARK SHORT, ALWAYS A PLEASURE.
WE WILL SEE YOU SOON.