we've got a big chunk of the cavalry
right here on set with me today in a
wonderful wonderful segment coming up a
nice long segment we've got steve moore
committee to unleash prosperity hotline
and freedomworks and the author of
godzilla and kevin hassett former chair
of the council of economic advisers and
author of the most important book of the
century stopping american slide to
socialism gentlemen
welcome this is the first for both of
you on set well put great monologue at
every part of it i agree okay
let me begin uh let's just let me begin
with
all the fruits and nuts at davos okay
you must have gone did you go to davos
don't you remember i i hit we were in
the roosevelt room
and then and then the chief was like who
wants to go to davos and i'm like over
behind behind mercy schlapp
once in 2017 when trump was just elected
and it was one of the most
extraordinarily hostile audiences i've
ever spoken to and what i learned at
davos was there were two things these
european bureaucrats were against donald
trump and brexit
that's it so
i mean what about this story
why do we have to have astronomical
gasoline prices it's not a blessing it's
a curse it hurts people it hurts
ordinary working folks that's my point
and i meant it when i said in davos
which is a lovely place up in the in the
swiss alps and so forth and i was up
there a couple times with uh with
president trump but there's no blue
collar workers all right there's no
people that work with their hands or
wear hard hats or build things it's all
these ceos and paperwork and kevin
that's the part that bothers me because
it's the
blue collar folks who get hurt the most
by these outrageous uh uh fossil fuel
prices that have been spawned by the
fossil fuel crusade by uh biden and
kerry and and they don't really care
about climate really if you think about
it so for example because you and
president trump and i know you were
driving force behind this you know
expanded u.s natural gas production so
much by making it easy to get permits
and opening up public lands and so on as
you then naturally get as you were well
you were right in the front of that i
you know i i was you know calculating
the statistics that you showed that you
were doing a good job but you were you
were given
the backup numbers to prove that we
might be right yeah but but the point is
that one remember one number i really
remember when we put this out as a
report the white house while we were
there was that natural gas consumption
went up so much under trump
replacing coal for uh electricity
generation that uh the natural gas
expansion under president trump had a
bigger effect on uh two emissions in the
us than obama's clean power plan
and
so you know they celebrated obama's
clean power plan they attacked president
trump when he backed away from it but
then when he actually accomplished what
they claim their goal is a big reduction
in co2 emissions nobody said thank you
oh so that's how we do it instead they
go to davos and they sneer at him just
like they did when steve was there and
they were calling him a nazi and things
like that you make a really good point
why is the left why are the climate
change fanatics against natural gas
natural gas is the single biggest force
over the last 15 or 20 years that has
led to dramatic reductions in co2
emissions most americans don't know this
because most americans haven't been told
you're exactly right
over the last five or six years the
united states has reduced our carbon
emissions more than any of the countries
that sign that damn paris climate accord
i mean they make all these promises and
they don't keep them
i want to make one point if i could
about what what uh biden said uh was it
yesterday about uh the the high gas
prices i've said this all along the the
white house has been talking out of both
sides of their mouth on this energy
crisis on the one hand biden's saying
the president we're doing everything we
can to lower gas prices no they're not
that's just a lie they're not doing
everything they can they're loving it
yeah exactly london they are doing
everything to keep let's be honest they
don't want high gas prices because they
want people to lose less gas and the way
to have people use less gasoline is to
raise its price that's the closest i
think he's come to acknowledge that they
want high gas that's exactly right and
you've got carrie in davos spewing forth
his stuff i want to get back to kerry in
a second
but kevin uh on this show not so long
ago former energy secretary
rick perry said you know
if we sold more nat gas if we had more
lng exports
to
india to china
we would do so much more not only would
we help our own balance of payments but
we would substitute lng for coal which
is the worst emitter of all and we would
make a cleaner world in fact we would do
more to make a cleaner world than all
the rhetoric of the paris climate
accords now that's a thought that i
never hear from team biden in fact that
would actually be an incredible
transition what what biden has is a not
credible transition really and the fact
is though going back to the earlier
point that all this progress was made on
climate all this progress was made uh
under president trump on income
inequality we talked about that too and
the only like you go to davos and the
only thing they appear to care about is
income inequality and climate right
those are the two things and the fact
that they're in complete denial about
the progress that was made it's just
really cold and hard and the facts
suggest that they don't really care
about those issues they're just using
them as cudgels to gain political power
so what they want to do is they want to
oppress the people they don't invite to
davos and then they're using climate
change and income inequality to arouse
uh their their worst sentiments and get
them to vote for democrats and liberals
all around the world
right see this is a power play and the
davos thing
is all about centralized that's just how
it's going to say whether it's
governments or ceos it's about
centralized power
and it becomes ideological and they're
turning against the roots of free-market
capitalism which is another thing that
always burned me up about going to those
places and if you listened and i
listened to some of those speeches that
have been given already at davos and
they all have one theme one world
government now i don't want people to
say oh steve moore is a black helicopter
but they believe in one world government
and they want the the united nations and
all these other agencies which is a
direct threat this is something trump
got that's a direct threat to american
sovereignty and we're not going to go
for that american people why they didn't
like trump a related point
it's so it it's also a war against the
car
they hate cars if you listen to the
rhetoric it's all about putting
everybody in mass transit except of
course the elite so they'll still have
their own cars but you know
if you want to help kevin you can tell
me if i'm right about this but i've seen
a number of studies that show one of the
best ways to help the poor advance
economically is get them a car so they
can get their jobs and they want to take
cars away from people so imagine the the
uh the uh mother with three kids driving
her kids around to uh soccer practice
and graduation all these things she
doesn't have a car
you know what's that's gonna mean for
that anyway i don't
i have nothing against electric cars oh
i don't have nothing none of you but now
they all cost a hundred thousand dollars
so be a little hard for the person
you're describing or maybe 65 or 70 000
but i have nothing against it see kevin
here's um a serious question we used to
talk about all the above so we have
side-by-side
fossil fuels and renewables and we would
try to advance the technology as best
and nuclear
and nuclear for sure now we've lost that
now my question is if you succeeded in
abolishing fossil fuels in the next 20
minutes which is what john kerry wants
what exactly is going to replace it what
is the replacement plan
right they they don't have a replacement
plan and uh to actually put it in
perspective this is some work casey
mulligan and i did before the election
that uh if everybody has an electric car
then instead of getting stuff from
gasoline you're getting miles from
electricity and electricity generation
in the us has to go up if we just move
everything from the kind of car you and
i have so that okay that it basically
moves it up by 25
and so we have to increase power
generation by 25
uh if we move everybody to electric car
if you phase fossil fuels out at the
same time well fossil fuels right now
produce about 70 percent of the
electricity in the us oh right so you're
basically rebooting the entire grid it's
95 of the grid if we if we do it and if
there's just no way to do it so why did
they get that or why don't they
acknowledge because it's not about i
mean you said it very well it's not
about climate change it's about control
of the economy and you know larry maybe
you can answer this question for me
because i listen to these speeches by
major ceos of not just european
companies but american companies that
have completely bought in to the zero
carbon emissions i don't really
understand
the logic and was astonished at it uh
back in 20 i think it was 2019
when trump spoke
he was well received because the economy
was doing so well right nobody could
deny that it was like oh what a shock
the economy's doing well the corporate
tax cuts worked etc etc but other than
that he was never taken seriously
and politics were always you know
anti-trump globalist
globalization
and so forth and so on and it all seemed
to revolve around climate change i don't
know why climate change became this
global rallying cry i mean i worry about
democracy in a lot of different areas
but it did look let me go back to this
other point um this was the newt
gingrich point about big government
socialism and i referred to it as
progressivism
i don't think kevin i mean i think i
want you all to talk about the economy
and how you see it right now but it
ain't great and i don't think
under current policies binomics policies
if you will which are the progressive
policies the taxing the regulating the
spending the money printing and all the
rest of it we will not regain high
growth and low inflation until those
policies are replaced that's my sense of
it you tell me right no i agree and and
in fact i think that they're in complete
denial right now so we've got john kerry
at davos uh you know he he basically
could have said hey you know uh you know
here's our plan to go after inflation
and and to improve like reduce energy
costs in the us and and so don't worry
there's there's the cavalry is coming
right he could have given that speech
janet yellen could have done the same
thing when she went uh before congress
to give a talk but it said she decided
that it's bad for the economy if roe v
wade is repealed and so they're out
there changing the subject and then it's
putin's fault it's larry kudlow's fault
it was actually our tax cuts were blamed
this week by them uh it and the fact is
it shows that they don't have a clue and
and and so oh crossbone blame the laffer
curve
yeah the the one thing i just want to
say though is that that by binomics is
the denial that incentives matter so
ultimately they're it's their wish
hoping for the best
and raise taxes raise minimum wages do
whatever you want and you won't have any
negative effect on anything and that's
why supply is getting crushed they
removed work incentives they shut down
pipelines supply is getting crushed
while they're helicopter dropping money
and it's why every day that biden is
president trump's numbers get better
because people say hey it worked pretty
well but you i may not have liked some
of the things trump did but the policies
worked spectacularly well but i i think
a related important point to this though
is you go i go back to that speech that
trump gave about 10 12 days ago where
you know when the market was just
starting to get really soft and he just
basically doubled down on everything
we're going to do build back better
we're going to do tax increases on the
rich and the market has been in a funk
ever since because there was no sense
that this president is going to get off
of these liberal progressive policies
the way bill clinton did no reset
there's no reset to what's your point
is there i'm just trying to think you
know kevin it's a very good point
the only incentive i can think of is the
incentive of high gasoline prices
but other than that they don't buy tax
incentives right we never hear that
um i don't hear that's a really
important point markets don't work they
think of price gouging and scouting is
their big client and they're going to
have um
they're going to have um ftc ftc
interference and and
everything's a monopoly or an oligopoly
so how do we how do we get out of this
fix i mean there's no confidence that's
for sure they don't look at the stock
market but the stock market is telling
you there's no confidence the stock
market is telling us that your recession
forecasts or your recession worries are
well justified uh the stock market's
also telling us inflation's a problem
and the fed's going to have to fix it so
let's just spend a moment where do we go
on the economy
well you know i think that what would
normally happen is that the america's
voters are very rational and they're
very sensible and when they see somebody
failing as bad as joe biden and the
democrats are failing then they tend to
adjust
but the fact is that even if the
republicans you know sweep congress they
get the house and the senate then a bill
clinton or even a barack obama might
have sort of sat down with republicans
and said geez you know the economy is
really terrible
let's work something out to try to turn
it around
especially if it's someone who's running
for re-election and they want to have a
strong economy when they're running for
re-election right but i think that what
we've seen from the bide administration
is such a lack of imagination such a
lack of sentience uh that you know
there's just no chance i think and the
markets will expect that they'll ever
work with republicans even if
republicans capture congress so
republicans can stop some of the
regulations and so on with congressional
review but for the most part we're
looking at a good long slog before
things start to get fixed because i
don't think that biden is going to run
towards the middle and work with
republicans if republicans capture
congress you've said
i think you close every show by saying
the cavalry is coming the cavalry is
coming the republicans going to win a
monster election november but my
question are they going to get here in
time before they really wrecked this
economy the other thing and are they
going to say the right thing can i just
raise that point i don't mean to be too
mischievous republicans ain't perfect
that's just where i was going with this
all right i see these big spending bills
that are coming out of congress you know
the the little indicator was that 40
billion dollar uh aid relief and my good
friend and your good friend rand paul
said hey let's pay for this let's find
40 billion dollars of saving somewhere
else and we couldn't even get
republicans to vote for that so sorry
folks but i'm not sure the republicans
are going to be necessarily the
salvation but they certainly will be an
improvement there's a 350 billion dollar
help china bill compete with china bill
um i have first of all it's an outrage
in my opinion second of all 18 or 20
republicans voted for it third of all
kevin nobody's the word pay for is not
in the vocabulary anymore right well
well what needs to happen uh is that we
need to get like the bob rubins the
larry suburbs
the people that historically bring them
in
actually recognize that incentives
matter and bring them in and work with
them to try to they won't do that though
they hate summers if they if they get
slaughtered bad enough you know then you
know maybe they will uh
and i mean there's a lot of talent on
their side on their team that's had you
know some success in the past and so one
would think that there's a chance maybe
that we could work with them but my
guess is it's not going to happen
because you see how committed to these
weird ideological fetishes
in fact you know the democrats in these
primaries they're actually
rush rushing out of the party and
they're moderate faction i mean i don't
know if you've noticed in these
primaries but you're getting these aoc
types that are running against the few
moderates that are left in the
democratic party and they're beating
them in the primaries so
this party has moved extraordinarily one
last question uh i'm trying to recruit
both of you at least to the principle
of a pro-growth balance budget the
principle okay um
which would include
making the tax the trump tax reforms
permanent the deregulation
the energy independence the limiting of
spending the making of tough choices on
the spending side