♪.
LARRY: SENATOR MIKE BRAUN OF
INDIANA SAYS HE HAS A BALANCED
BUDGET PLAN.
YOU KNOW WE HAVE HIGH STANDARDS
HERE.
IT HAS TO BE A GOOD ONE.
BETTER BE A GOOD ONE.
GOOD EVENING, SENATOR BRAUN.
I WAS READING THE OUTLINE OF
YOUR BALANCED BUDGET PLAN AND I
THOUGHT IT LOOKED PRETTY DARN
GOOD, SIR.
I THINK YOU’VE BEEN TAKING NOTES
FROM THE "KUDLOW" SHOW.
THAT IS WHAT I THINK.
TELL US ABOUT IT.
>> SO IT IS GOOD, LARRY, WHEN
YOU HAVE A PLAN, WHEN THERE HAS
NOT BEEN ONE FOR NEARLY 10 OR 11
YEARS.
I GOT HERE 3 1/2 YEARS AGO.
TO PUT IT IN CONTEXT, WE WERE
18 TRILLION IN DEBT.
WE’RE NOW 30 AND OUR FEARLESS
LEADER JUST PUT OUT A BLUEPRINT
THAT SHRUGS OFF TRILLION 1/2
DOLLAR DEFICITS OVER THE NEXT 10
YEARS, THAT TAKES US TO
45 TRILLION IN DEBT IN 2032.
THAT IS SHAMEFUL, THAT IS
BORROWING FROM OUR KIDS AND
GRANDKIDS AND ALL I’M SAYING IS,
HAVE A LITTLE POLITICAL WILL.
THIS TAPERS US INTO A BALANCED
BUDGET OVER 10 YEARS, FOR ANY
CEO, LARRY, THIS WOULD BE A CHIP
SHOT TO HAVE SOMETHING THAT
WOULD BE SO EASY TO DO.
HERE EVERYTHING IS SACROSANCT.
WE DON’T BUDGE ON DEFENSE.
THIS KEEPS DEFENSE ROBUST OVER
OVER THE NEXT 10 YEARS.
PART OF UNHOLY ALLIANCE GIVES
DEMOCRATS EVERYTHING THEY WANT,
VOILA, WE’RE ANOTHER TRILLION
DOLLARS IN DEBT, NOW GOING UP TO
A TRILLION 1/2.
THIS PUT AS STOP TO IT.
I’M EXERCISING THE PRIVILEGE
THAT IF WE DON’T DO A BUDGET IN
THE BUDGET COMMITTEE, SENATOR
SANDERS RUNS THAT NOW, ANY
SENATOR CAN GO TO THE FLOOR TO
SAY THIS IS MY PLAN.
LARRY: COUPLE THINGS, SENATOR,
THAT JUMPED OUT AT ME.
FIRST OF ALL YOU PERMANENTLY
EXTEND THE TRUMP TAX CUTS SO YOU
HAVE A GROWTH BUDGET WHICH IS
TERRIBLY IMPORTANT.
AND SECONDLY, I WANT TO READ
YOU, 375 BILLION IN
NON-ENTITLEMENT MANDATORY
SPENDING, PUT IT BACK TO THE
DISCRETIONARY SIDE OF THE
LEDGER.
JUST LET ME BE CLEAR.
YOU’RE TALKING ABOUT WHAT WE
SOMETIMES CALL THE SMALL
ENTITLEMENTS.
WELFARE, HOUSING SUBSIDIES,
CORRECT ME IF I’M WRONG, FOOD
STAMPS, UNEMPLOYMENT
COMPENSATION.
UNEMPLOYMENT BENEFITS AND ALSO
I’M ASSUMING, YOU WOULD RESTORE
WORKFARE INTO THOSE
ENTITLEMENTS.
SO, A, THEY CAN BE CUT BACK AND
B, THEY MUST BE SUBJECTED TO
WORKFARE?
IS THAT FAIR?
IS THAT PART OF YOUR PLAN?
>> THAT IS FAIR.
AND IT OFFSETS WHERE WE’VE BEEN
INGENIUS OVER THE YEARS.
YOU HEAR ABOUT SEQUESTER AND
HEAR ABOUT BUDGET CAPS.
THEY GET RID OF THAT WITHIN A
YEAR OR TWO AFTER THEY DO IT.
THE OTHER GIMMICK NO ONE REALLY
HEARS ABOUT, ALL OF SUDDEN, SO
YOU DON’T HAVE TO DO THE
BUDGETING, IT IS TAKING WHATEVER
YOUR PET PROJECT IS, SAYING ITS
ON AUTOPILOT JUST LIKE MEDICARE
AROUND SOCIAL SECURITY.
THAT IS WHAT HAS TAKEN US INTO
KIND OF BUDGET DERELICTION,
AVOIDS THE RESPONSIBILITY.
I’M AN APPROPRIATOR.
WE END UP EVEN NOT APPROPRIATING
BY THE END OF OUR FISCAL YEAR.
THIS PAST YEAR WE DIDN’T GET THE
LAST YEAR’S SPENDING BILLS DONE
UNTIL LIKE FEBRUARY.
THE WHOLE THING IS REALLY GOTTEN
TO WHERE THERE IS LACK OF
RESPONSIBILITY, POLITICAL WILL
TO DO THE RIGHT THINGS.
LARRY: I MEAN I JUST THINK
YOU’RE A THOUSAND PERCENT RIGHT
ON THIS.
THIS IS SUCH AS IMPORTANT POINT.
I HOPE YOU NEVER LOSE IT, KEEP
FIGHTING FOR IT NO MATTER WHAT
HAPPENS.
THE OTHER THING IS, SENATOR
BRAUN, I THINK WE SHOULD HAVE A
DOMESTIC FREEZE IN GENERAL AND
IF YOU BREAK THE FREEZE, YOU
HAVE TO PAY SEQUESTRATION,
ACROSS THE BOARD PENALTY.
I DOESN’T MEAN A FREEZE IN THE
CURRENT SERVICES BASELINE WHICH
ALWAYS GOES UP, I MEAN A FREEZE
IN THE LEVEL.
>> A REAL FREEZE.
LARRY: FROM A YEAR AGO.
MY FRIEND AND MENTOR PHIL GRAMM
INVENTED THIS, I DON’T KNOW, 30,
35 YEARS AGO AND I THINK IT IS
AS IMPORTANT TODAY AS IT WAS
THEN.
GIVE YOU THE LAST WORD?
>> NO DOUBT ABOUT IT.
THAT NEEDS TO BE PART OF THE
MENTALITY.
I DO WANT TO EMPHASIZE WHAT YOU
SAID EARLIER, I RAN A BUSINESS
FOR 37 YEARS, LOOK TO WHAT WAS
WORKING PRE-COVID.
THAT WAS TAX CUT AND JOBS ACT
THAT TOOK REVENUES TO RECORD
LEVELS, ALMOST GOT THE CBO TO
RECONSIDER WHAT THEY SAID WAS
GOING TO BE A 1.5 TRILLION.
THAT WAS ALMOST NEUTRAL AND NOW
THE DAMS IN THIS BUILD BACK
BETTER DISCUSSION ARE WANTING TO
GET RID OF THE MAIN STREET TAX
BREAKS THAT HAVE BEEN DRIVING
THE ECONOMY.
I’M GLAD YOU BROUGHT THAT UP.
WE CAN’T EVER GO THERE.
THOSE ARE KEPT WITH MY BUDGET.
LARRY: SENATOR BRAUN, GOING TO
TELL YOU, SIR, IT’S A GREAT
PLAN, HOW IS THAT?
IT’S A GREAT PLAN.
I MEAN IT, WELL-DONE.
WELL-THOUGHT OUT.
>> I’M GLAD YOU’RE FOR IT.
I WILL TAKE IT TO THE FLOOR NEXT
WEEK.
LARRY: TERRIFIC STUFF.