This week marks three big budget issues for Joe Biden, and he s got a problem on every single one of them. Plus, Biden continues to slander the Border Patrol. Plus, he continues to complain about what he has been dealt a tough hand at the beginning of his presidency. Joe Biden is facing down the possibility of a failed presidency, a fully failed presidency. And we are approximately 9 months into his presidency at this point. On every front, he faces crisis. Specifically, a serious crisis on the domestic front. This is the place where he was supposed to excel, and that s where he can t get his party together. And that is because he is not governing the way that he said he would be governing. And it has backfired on him in spectacular fashion, apparently. Today s show is sponsored by ExpressVPN. Protect your data from big tech with the VPN I trust. Visit expressvpn.org/ProtectYourData from Big Tech to get 20% off your first month of Vaynerdocuments and access to all of the latest privacy and data protection tools you need to protect your data. Visit iTrust.co.nz/Protect Your Data from BigTech to get 10% off the first month and get access to a FREE 3-day VIP membership trial of the VPN Prodigy Proven Innocent Provenible Provenibilite Provenior Privacy Protection Tool! Protect Your Data From Big Tech by Providing You'll Never Be Stagnant by Checking Up Against Big Tech's Privacy Protect Your Rights With The VPN I Trust, Protect Your Privacy & Data Protecting Your Privacy, Privacy Guarantee, and Access to Your Data Protections. Subscribe To My Account With Mysterling.co/Protect My Privacy, I'll Be The First to Know Who I Trust? I'll Have Access To My Best Privacy Tool That Protects My Privacy And Access My Privacy & Access My Rights With My Privacy Is My Privacy Will Never Be Mentioned In My Articles And Accessible To My Most Powerful Tool That Will Help Me Find Out Which I'll Never Have A Better Place To Protect My Data, I'm Notify Me With My Best Practices And I'll Let Me Know Which I Trust My Data Will Be Able To Access My Data And My Thoughts On Which I'm Working With My Secret Service Will I'll Get A Better Access To Know My Data & Access Is My Best Friend Will I Can Access My Best Browsing My Best Place To Secure My Data?
00:01:47.000And that is because he is not governing the way that he said that he would be governing.
00:01:51.000A lot of presidents come into office thinking that their mandate is broader than what their actual mandate is.
00:01:56.000In 2004, for example, George W. Bush won re-election and he said, well, I'm now the decider and I'm going to push social security privatization.
00:02:02.000It was actually a good plan, but social security privatization was not what he had a mandate for.
00:02:07.000He tried to push it, it backfired, and his presidency was basically lame duck from the beginning of 2005 and on.
00:02:13.000Well, Joe Biden is another president who is like this.
00:02:15.000He is elected on the basis of being a moderate, of not being Bernie Sanders, and now he's trying to govern like Bernie Sanders in every possible way, apparently.
00:02:23.000And it has backfired on him in spectacular fashion.
00:02:26.000We're getting Bernie Sanders without all of the avuncular charm of the grouchy old man shouting at the moon.
00:02:31.000Now we just have a grouchy old man mumbling into his soup.
00:02:34.000So it really has not worked out well for Joe Biden, which relegated him over the weekend to basically mumbling on about what a tough hand he had been dealt at the beginning of his presidency.
00:03:20.000He was campaigning against the most unpopular politician in modern American history.
00:03:23.000He basically won the presidency on the basis of being a dead body.
00:03:26.000And he was inheriting the end of a pandemic, vaccines that worked, An economy that had been going great guns before the artificial coma of the pandemic itself, which was not caused solely by the pandemic, but largely by government policy in response to the pandemic.
00:03:41.000A baseline of massive spending had already been set up for him.
00:03:44.000There's no president who's inherited a situation more likely to succeed than Joe Biden.
00:03:50.000It was like when Barack Obama took over and he could look at the fact that we had a stagnant economy and we had just faced this major financial crisis and he could say that anything that happened from here on in was him and everything bad was his predecessor.
00:04:02.000Joe Biden basically had the same ability.
00:04:04.000He was going to get this natural rebound in economic growth.
00:04:07.000Everybody knew that it was going to happen.
00:04:09.000A natural rebound that should have lasted at least a couple of years.
00:04:12.000Joe Biden was going to get the benefit of vaccines he did not develop and had nothing to do with developing.
00:04:16.000He was going to get the benefit of a foreign policy that not only had produced no major wars over the course of the last four years, but also had started producing actual peace agreements in places like the Middle East.
00:04:26.000What Joe Biden inherited was actually one of the greatest hands any president has ever inherited.
00:04:31.000He inherited problems that already had solutions to them.
00:04:36.000As always with his career, he could jump in front of the parade that was already moving without him, stand in front with the baton, and pretend that he was leading the thing.
00:04:53.000When you pursue radical policy, and also you are perceived as both incompetent and senile, that is never a good look.
00:05:00.000And by the way, when I say he is perceived as incompetent and senile, not by me only, I mean, yes, but also by apparently the American public.
00:05:08.000A majority of Americans now say that President Biden is not mentally sharp, according to a new poll from Pew Research Center.
00:05:14.000The survey, which like other polls, shows Biden's overall approval rating sinking, found that just 43% said the phrase mentally sharp describes him either very well or fairly well.
00:05:24.000An 11 point drop from the same poll in March.
00:05:27.00056% then said that the phrase describes him, well 56% now say the phrase describes him as not at all well or not too well.
00:05:35.000This was his worst showing in any of the personal characteristics surveyed.
00:05:38.000So nearly 6 in 10 Americans say that he is not mentally sharp.
00:05:42.000The other four and ten Americans are not mentally sharp themselves apparently because I'm wondering what are the symptoms of being mentally sharp if you are Joe Biden?
00:05:50.000And all of this just underscored what was going on with Joe Biden's crisis underscores him personally.
00:05:55.000This is what I say about the difference between a gaffe and actual political crisis.
00:06:01.000A gaffe is where you say something stupid.
00:06:04.000A political crisis is where you say something stupid and underscores your entire political program.
00:06:08.000If you are on the verge of being perceived as senile and incompetent, and then you pursue a bunch of policy that makes no sense, it's just going to underscore your personal characteristics, senile and incompetent.
00:06:19.000And that's what's happening with the American public right now.
00:06:21.000So this means that this week matters an awful lot to Joe Biden.
00:06:24.000This is basically a make or break week for Joe Biden in the financial sphere.
00:07:29.000Save 50% off your very first month and you'll be saving hundreds of bucks down the road.
00:07:33.000Okay, so Joe Biden is now facing down a bunch of fiscal issues all hitting at the exact same time.
00:07:39.000According to the Wall Street Journal, Joe Biden is headed into a tumultuous week, along with Nancy Pelosi and Chuck Schumer.
00:07:45.000A slew of high-stakes deadlines will collide on Capitol Hill this week, setting up potentially chaotic negotiations against a backdrop of expiring government funding and the threat of a possible U.S.
00:07:54.000Even by the standards of a Capitol used to operating under pressure, this week's maelstrom of legislative and fiscal crosscurrents is setting the stage for an extraordinary sprint.
00:08:03.000Democratic leaders are trying to shepherd two complicated legislative packages, A roughly $1 trillion bipartisan infrastructure bill and a sprawling health care education climate package whose proposed $3.5 trillion price tag and contents are still under intense debate within the party.
00:08:18.000You've got the bipartisan infrastructure bill, which is about a trill, and that is going to pass because it has support in the Senate of the United States from some of the quote unquote Republican moderates.
00:08:27.000But the reason the Republican moderates were going to pass that is because they were not pairing it with this $3.5 trillion bill.
00:08:33.000The problem for the Democrats is that a bunch of progressives in the House are saying, we're not going to support the bipartisan infrastructure bill unless you support the $3.5 trillion bill.
00:08:41.000And a bunch of moderates in the Senate are like, nope, we're not going to do that.
00:08:43.000We're going to support the bipartisan infrastructure bill, but not the $3.5 trillion price tag.
00:08:48.000So basically, you now have a prisoner's dilemma.
00:08:50.000In which the progressives and the moderates inside the Democratic Party are at wit's end.
00:08:55.000The moderates want precisely the opposite of what the progressives want and there's not really a great way of bridging that gap unless you have serious presidential leadership, which you don't because Joe Biden is a vacuum at the top of the United States government.
00:09:09.000That if Joe Biden had any leadership capacity at all, he'd be cutting a deal right now, or at least pushing the progressives.
00:09:14.000But he is not, because he is an empty vessel who has decided that his greatest legacy for the future is going to be ramming through spending, no matter what it takes, because he understands that he is a one-term president.
00:09:24.000At the same time as both of those issues, which really ought not be paired, have been paired by Joe Biden and Nancy Pelosi and Chuck Schumer, right?
00:09:31.000They're pairing these two issues for no reason other than the progressives want them paired.
00:09:35.000The Democrats could today pass that $1 trillion bipartisan infrastructure package.
00:09:39.000Nancy Pelosi could bring that up for a vote in the House and it would pass.
00:09:42.000It would, because presumably they'd get enough votes from House Republicans to put it over the top, even if the progressive Democrats didn't go along with it.
00:09:49.000The problem she has is that she also wants to pass that giant $3.5 trillion bill.
00:09:54.000And the moderates in the Senate don't want to do that.
00:09:56.000So she's trying to wrap this all up in a ball and saying you only get one if you get the other.
00:10:00.000But that's not going to work because Republicans are going to filibuster that giant $3.5 trillion infrastructure package, forcing the Democrats to use reconciliation and Joe Manchin and Kyrsten Sinema, the so-called moderate senators from West Virginia and Arizona, have said that they are not on board with that.
00:10:13.000She's trying to pair them on behalf of the progressives when she should be trying to separate them on behalf of the moderates.
00:10:18.000And that would solve all the problems.
00:10:19.000Because there is a third problem, which is that the Republicans are not willing to raise the debt ceiling so long as Democrats are going to use reconciliation in order to ram through the $3.5 trillion package.
00:10:29.000Republicans are saying, listen, you want to raise the debt ceiling?
00:11:07.000That would partially shut down the government if Congress doesn't act.
00:11:10.000Lawmakers are feuding over who's responsible for raising the debt limit and avoiding a potentially catastrophic default.
00:11:15.000Absent swift action, Treasury Secretary Janet Yellen notified Congress this month Treasury may be unable to keep paying all of the government's bills on time during October.
00:11:22.000So first of all, whenever there's a government shutdown for any period of time, the media will lose it and no one else does.
00:11:27.000Because everybody who's an essential worker gets their back pay.
00:11:30.000There's no chance that the government remains shut down for an indefinite period of time.
00:11:34.000Eventually, the government always gets funded.
00:11:38.000Whether it is raising taxes, or whether it is passing another bill, they are going to do something to get the government funded.
00:11:46.000The government will always be, it's just a question of the delay.
00:11:49.000And the media always try to talk up government shutdown as though people are dying in the streets and it's zombie apocalypse out there.
00:11:54.000We've been through several of these at this point.
00:11:56.000And the only thing that happened is that Barack Obama, last time around, actively shut down a national park that was in the outdoors, in the open air, to piss off World War II veterans so that we could pretend that anyone cared about the government shutdown.
00:12:07.000In reality, the number of people who cared about the government shutdown, on a realistic level, was close to zero.
00:12:12.000But the media care deeply about it because it's how they leverage everybody into just going ahead with massive government spending that blows out the deficit.
00:12:21.000House Speaker Nancy Pelosi said, quote, this the next few days will be a time of intensity.
00:12:27.000Which is always a frightening line from Nancy Pelosi.
00:12:45.000Like in Afghanistan, on the southern border, and domestically.
00:12:49.000The Senate is expecting to vote Monday evening on a measure extending the government's funding through December 3rd, 2021, and suspending the debt limit into December 2022.
00:12:58.000It's expected to be blocked by Republicans, leaving the matter unresolved.
00:13:01.000Democratic leaders have not spelled out what their next step will be, but Pelosi reiterated Sunday the government would not go into partial shutdown.
00:13:07.000She said Democratic leaders are preparing to bring up a short-term spending patch, which has bipartisan support, to avoid that outcome.
00:13:13.000So Republicans are saying, fine, you know, we're not going to raise the debt limit, but what we are going to do is fund it for the next couple of weeks.
00:13:20.000We'll fund it for the next couple of weeks, because then it's up to you.
00:13:22.000Right, we've given you the time to go work this out on your own, but we are not going to green light a massive increase in the debt ceiling.
00:13:29.000Democrats are like, well, the debt ceiling is paying for bills we've already incurred.
00:13:32.000Yes, but you are now asking for taking out a second credit card, and Republicans are just saying no to that until you get your spending under control.
00:13:38.000It is true that we have to pay off the debt that we have already incurred.
00:13:44.000But why would I keep extending you a line of credit if you are just going to blow out the credit continuously without getting your house in order?
00:13:53.000Representative Debbie Dingell, Democrat of Michigan, said we're going to shut the government down in the middle of a pandemic.
00:13:57.000It's the most irresponsible action that anyone can really... I can think of some more irresponsible action than that.
00:14:02.000Namely, blowing out the budget to the tune of $7 trillion this year.
00:14:05.000I could imagine that would be pretty irresponsible, considering that we are now facing severe inflationary pressure as well as economic stagnation on the other end.
00:14:13.000As the Wall Street Journal points out, averting a partial government shutdown this weekend would resolve only one of the handful of complex legislative battles, a partisan fight over raising the debt limit.
00:14:21.000has started to infuse anxiety into financial markets.
00:14:23.000Republicans are refusing to vote for a suspension or increase in the debt ceiling, pointing to Democrats' decisions to pass a $1.9 trillion COVID-19 relief bill with no GOP support earlier this year and current efforts to pass that $3.5 trillion package of social and climate programs along party lines.
00:14:38.000Senator Pat Toomey, who is a fiscal conservative, he is the Republican from Pennsylvania, he sits on the Senate's budget and finance committees.
00:14:44.000He said he might very well vote for a clean continuation of funding so that the government will continue running, but he said there will be no attempt to raise the debt ceiling by Republicans.
00:14:51.000He said they are in the midst of an absolutely unprecedented, very damaging spending spree on a scale we've never seen.
00:14:56.000They want us to come along and authorize the borrowing to help pay for it when we are totally opposed to what they are doing.
00:15:02.000So, the Democrats are trying to blame this on the Republicans, but since they are in complete control of Congress, that's going to be a tough push.
00:15:23.000If you strive for excellence in every aspect of your life, you need to check out CUT's clothing.
00:15:27.000CUT's shirts, polos, hoodies, crew sweatshirts, they're made for the man who works hard, plays hard, never settles for less, all in the sport of business.
00:15:33.000Built for performance in the boardroom, the bar, or the gym, CUT's clothing keeps you sharp wherever the game takes you.
00:15:39.000The bleeding edge of fabric technology meets the man.
00:15:42.000Confident enough to wear Cuts clothing.
00:15:44.000Cuts set out to create a fabric uniquely engineered for each clothing style.
00:15:48.000So for example, they've got the new Cuts hoodie.
00:15:49.000They developed the Hyperloop French Terry fabric.
00:15:52.000It's a textile that's temperature controlled and ageless.
00:15:54.000You don't need to take it off, and you won't want to.
00:15:55.000Or you can try the wrinkle-free Pika Polo, a design that keeps you fitted for the office, the golf course at home, the gym, or your next hot date.
00:16:03.000Again, I pretty much only wear Cuts Clothing at this point.
00:16:35.000It's pretty severe systemic inflation.
00:16:37.000And the Federal Reserve is worried about it enough that now they're talking about tapering.
00:16:41.000They're talking about raising the interest rates, which, by the way, is the only thing that solidified markets last week in the middle of all of this.
00:16:46.000The markets are looking for some sign of fiscal responsibility from either the Federal Reserve or Congress.
00:16:51.000Congress has spent the last 20 years basically forcing the Federal Reserve to do all fiscal policy.
00:16:57.000If they wanted stimulus, they just had the Federal Reserve do it through quantitative easing.
00:17:01.000If they wanted the markets to tighten up, they forced the Federal Reserve to do it.
00:17:04.000The Federal Reserve became essentially a financial kingmaker in American politics.
00:17:09.000Well, now the Federal Reserve is saying, okay, well, I'm noticing that people are a little skittish and we are going to have to taper a little bit.
00:17:14.000That is because of inflationary pressures.
00:17:16.000By the way, inflation is the way that you debase a currency.
00:17:19.000Inflation is the way that you debase people's savings.
00:17:22.000It's a way that you steal political power from people and bring it towards centralized government.
00:17:27.000That is agreed upon by people from right to left.
00:17:29.000Everybody from Frederick Hayek to John Maynard Keynes was well aware that inflation was the way that you destroy an economy.
00:17:36.000And that is precisely what the Federal Reserve is afraid of right now as well.
00:17:39.000Meanwhile, Joe Biden's like, OK, fine.
00:17:40.000Well, if you guys are going to taper, I'm just going to spend.
00:18:09.000If the Federal Reserve keeps inflating the currency at 2% a year over the course of 10 years, your money in the bank is worth 20% less than it was when you started.
00:18:25.000Savings are bad, according to the Federal Reserve.
00:18:29.000I'm not in favor of the notion that the Federal Reserve should be setting a standard of inflation.
00:18:33.000By the way, I don't think the Federal Reserve should have been tasked with full employment as their goal.
00:18:36.000Since when is the job of a regulatory agency full employment?
00:18:39.000It should be the job of the Congress to ensure employment if that is what they care about.
00:18:44.000Although employment is a byproduct of a healthy economy, it is not the goal of a healthy economy.
00:18:48.000In any case, the Wall Street Journal says, if you look more closely, it's clear officials are turning less sanguine about inflation.
00:18:53.000That explains growing eagerness to raise interest rates.
00:18:56.000Last September, long before supply bottlenecks emerged, the median forecast by Fed officials was for core inflation, excluding food and energy, in 2022 of 1.8 percent.
00:19:05.000Every few months since then, they've nudged that up.
00:19:08.000In the forecast released Wednesday, they see core inflation next year at 2.3%.
00:19:12.000While current year forecasts get pushed around by a lot of temporary factors like a jump in oil prices, the next year forecasts reflect where inflation is expected to settle once those temporary factors recede.
00:19:21.000The message from the Fed's latest projections is that transitory is lasting an awfully long time.
00:19:26.000Indeed, next year's projected 2.3% is the highest next year core inflation forecast since the projections were first published in 2007, according to Derek Tang of Monetary Policy Analytics, which is why the Fed is accelerating plans to raise the interest rates.
00:19:38.000The Fed is currently buying $120 billion a month in bonds and wants that to start to fall to zero before it starts to raise rates.
00:19:44.000On Wednesday, the Fed signaled it would be likely to start tapering bond purchases in November.
00:19:48.000That means the process would be over by mid-2022, clearing the way for a rate increase.
00:19:53.000Now, as I've said, inflation is actually not my core worry here.
00:19:55.000My core worry is that when you regulate business, when you tell business that the government is going to run it, when you say that the entire American economy should run on principles of equity set by the central bank and the government of the United States, What you are going to do is cause stagnation.
00:20:08.000You're going to get secular stagnation, Japanese style, from the 1990s.
00:20:12.000Which is, by the way, Joe Biden agrees with that, which is why he has forecast that over the next 10 years, the American economy is going to grow at like 1.5, 1.6%.
00:20:22.000You can talk about increase in wage numbers solely due to inflation, but real wages are not going to increase if the economic growth doesn't outpace inflation.
00:20:33.000But Joe Biden is confident that he's going to spend and he's going to lie to you about all of this stuff.
00:20:38.000What Democrats really don't want to talk about at this point is who's going to pay for this and what are the actual goals of this policy other than to make the American people more dependent on government.
00:20:47.000Other than to get the American people into a warm bath and hook them up to an IV and wait for them to bloat themselves to death.
00:21:01.000Okay, used car salesman, explain to me how a $3.5 trillion spending package from the government, which makes no money.
00:21:07.000The government is not an independent producer of money.
00:21:10.000The government of the United States can only make money by selling bonds that eventually have to be paid for by tax dollars or by taxing you directly.
00:21:53.000Zero, because in that plan that I put forward, and I said from the outset, I said, I'm running to change the dynamic of how the economy grows.
00:22:12.000He's lying because all of his baseline budgeting for spending goes out over 15 years and all the tax revenue he's talking about is raised over the course of longer than that.
00:22:23.000It's like a 10-year budget, and then it's like a 15-year tax revenue scheme.
00:22:26.000And beyond that, he is forecasting tax revenue that is unlikely to occur because of his economic policy.
00:22:32.000Finally, even if he were not lying, even if his actual plan encompassed the taxation to cover the plan, that doesn't make the cost zero.
00:22:40.000That makes the cost precisely what the cost is.
00:22:43.000If I go down to the local grocery store and I buy a gallon of milk for five bucks, That cost me five bucks.
00:22:50.000Just because I paid for it doesn't mean that the cost was zero.
00:22:54.000In what insane world is the cost zero when I pay for a thing?
00:22:58.000What in the world is he talking about?
00:23:00.000The answer is he's lying, because they have to lie to you, because if they don't lie to you, you might say, wait a second, we're spending money on what now?
00:24:29.000It's going to add zero dollars to the national debt.
00:24:32.000Instead of wasting money on tax breaks, loopholes, tax evasions for big corporations and the wealthy, we can make a once in a generation investment in working America and it adds zero dollars to the national debt.
00:26:30.000No, because he himself is proclaiming that the economy is going to grow at less than 2% over the next 10 years.
00:26:35.000So what exactly is he quote-unquote investing in and why is it that when there's an investment, typically the way we refer to an investment is there is an ROI, there's a return on the investment.
00:26:43.000If I invest in the stock market and I lose 10% every single year, that's a crappy investment.
00:26:48.000But Joe Biden thinks it's an investment to blow money on random government programs.
00:27:09.000The plan is, when he says it's a once-in-a-lifetime investment, he means I'm going to invest in a bunch of people to vote for me.
00:27:15.000I'm going to bribe them to vote for me and for my party until the end of time by giving them things.
00:27:20.000I'm going to enshrine in American life more and more government spending and more and more government dependency so that you will keep voting for a larger and larger government bloat program that reorients the United States away from free markets and toward top-down controlled markets in order to pay for all of this garbage.
00:27:36.000That is what Joe Biden is investing in.
00:28:06.000And that's the beauty of it, by having those in our economy and society who have not paid their fair share, paying their fair share.
00:28:15.000So again, the Senate and the House, those who are not in full agreement with the President's rate, let's see what our value, let's not talk about numbers and dollars, let's talk about values.
00:28:31.000Yes, your value is that you wish to centralize as much power in the federal government as humanly possible, and to confiscate money not just from people who are alive now, but future generations who have not yet been born.
00:28:40.000And then use this to buy your own way into the history books because history treats very kindly activism, government activism.
00:28:47.000The presidents who are unbelievably crappy at their jobs get treated as American heroes so long as they blow out the spending.
00:28:53.000If your FDR or LBJ can be unbelievably crappy at your job, and it does not matter, you are treated as an American hero, as a transformational figure in American life.
00:29:01.000If you're Woodrow Wilson, until very recently, you were treated as a transformational hero in American life, specifically because you strayed from the constitutional limited government vision of the founding fathers.
00:29:10.000If you're Calvin Coolidge, you're very bad.
00:29:12.000If you're Warren G. Harding, you're very bad.
00:29:13.000You know, you look at the 1920s in American life, I'm constantly struck by this.
00:29:16.000If you look at the growth rates in the United States during the 1920s, for example, they're really, really, really high, right?
00:29:22.000There's a reason that the 1920s were called the Roaring Twenties.
00:29:25.000Then you look at the 1930s, and the 1930s were a lost decade in terms of American growth.
00:29:29.000The 1930s were a garbage time for the American economy.
00:30:08.000Because he installed these programs that we like ever so much.
00:30:12.000The best American presidents, according to the historical crowd, are the presidents who blow out the spending.
00:30:17.000This is why, in 20 years, the presidents who are going to be considered great by the historians, assuming that it's the same group of people writing the history books, are going to be people like Obama.
00:30:26.000And Bill Clinton will have been forgotten.
00:30:27.000It doesn't matter that Bill Clinton, a Democrat, presided over a rapidly growing economy in the 1990s thanks to his moderate economic policy, which he crafted in conjunction with the Republicans.
00:30:36.000Barack Obama, who had the slowest economic recovery in modern American history, will be considered a great president because he enshrined big government spending.
00:30:43.000And Joe Biden knows this, which is why he is pushing this.
00:30:46.000And now, there's one problem for Joe Biden in all of this, and this is he can't get his own party together.
00:30:50.000And the reason he can't get his own party together is because there are people still, like Kyrsten Sinema and Joe Manchin, who are subject to voters who are not crazy.
00:30:57.000There's a bunch of senators who are in deep blue states, where the deep blue states just feel like we can blow out the federal budget no matter what, doesn't really matter.
00:31:04.000But the moderates and the progressives are still very highly divided over a series of issues.
00:31:09.000So Democrats, for example, according to the Wall Street Journal, are divided on five key issues.
00:31:14.000Democrats are wrestling with funding for and duration of three central health care provisions, an extension of Obamacare subsidies, Medicare coverage for dental, vision, and hearing, and an effort to provide health care coverage for some people in Republican-led states that haven't expanded Medicaid.
00:31:26.000So the progressives want to expand all of these things.
00:31:29.000They particularly want to expand Medicare.
00:31:31.000Because Bernie Sanders has said for a long time, Medicare for all.
00:31:35.000He doesn't want you to personally purchase supplemental insurance to Medicare.
00:31:38.000Instead of Medicare being a baseline insurance provided to you when you get old, instead Medicare is supposed to be a comprehensive insurance service that is essentially NHS.
00:31:46.000It's essentially the UK nationalized healthcare service for old people.
00:31:50.000And then we'll gradually expand that backwards in age.
00:31:53.000That is Bernie Sanders' pretty open plan.
00:31:56.000Pelosi says that all three of these priorities will be in the final bill, but that could become increasingly challenging if moderate Democrats push for a lower amount of overall spending.
00:32:05.000The healthcare puzzle becomes even more complicated because Kyrsten Sinema and some centrist lawmakers in the House are opposed to the Democratic proposal to quote-unquote lower prescription drug costs by giving Medicare the ability to negotiate drug prices with pharmaceutical companies.
00:32:19.000Their plan could, quote, save as much as $500 billion over a decade, money that Democrats are counting on to pay for all of these big spending plans.
00:32:26.000So what they want to do, the Democrats, is they want to use the federal government in order to negotiate directly with drug companies.
00:32:31.000And by negotiate, we mean cram down on drug companies, particular drug prices.
00:32:35.000And then the quote, unquote, savings that we earn from that, we are going to then use on Medicare, Medicaid, ACA expansion.
00:33:01.000Or, it could be like Canada, you can live off the fat of the land, trying to negotiate with these drug companies separately, and assume Americans are going to pay the freight for that, and Americans pay the freight by virtue of the higher drug prices, but what they get in response for that, what they get in return for that, is that all these drug companies work for the United States.
00:33:18.000There is no third choice where they continue to provide drugs at this government-negotiated, artificially low price, and then also continue to develop new drugs.
00:33:50.000Progressives worry an insufficiently funded plan won't be able to achieve its objectives.
00:33:55.000Okay, well, one of the reasons Democrats are pushing for this is because they're also pushing for home health care workers and child care workers to be effectively unionized.
00:34:04.000They want to treat all of those people as union employees.
00:34:08.000They don't want them to be able to be treated as individual employees.
00:34:11.000They want them to be treated as unionized employees.
00:34:14.000It's a major issue in terms of right to work.
00:34:16.000Democrats are also divided on climate.
00:34:18.000The centerpiece of the Democrats' plan to address the climate crisis is the Clean Electricity Performance Program, which would pay utilities that switch to clean energy and penalize those that don't, because clean energy has been such a boon in places like Texas.
00:34:31.000That is me being incredibly cynical and sarcastic, because these clean energy programs have basically just made power extraordinarily more expensive and less reliable in most places around the United States.
00:34:41.000Utilities that increase their use of clean energy by 4% every year would get money from the feds.
00:34:45.000Those that fail to do so would get hit with a fine.
00:34:48.000But Joe Manchin comes from West Virginia, which is a coal state.
00:34:51.000So he's like, nope, not interested in that.
00:34:55.000Meanwhile, on immigration, Democrats are seeking a path forward after the Senate parliamentarian ruled they could not include a pathway to citizenship for millions of illegal immigrants.
00:35:03.000Democrats are still trying to find a way around all of this.
00:35:06.000One possibility they've considered is to update an immigration law known as the registry, which would allow anyone present in the country earlier than a certain date to become a legal permanent resident.
00:35:18.000Senior Democrats on the Senate Finance Committee and House Ways and Means Committee have prepared a long menu of options to pay for the spending, along with tax credits that will add to the bill's overall cost.
00:35:25.000Progressives and centrists are divided on a new corporate tax rate anywhere between 21% and 26.5%.
00:35:32.000By the way, we are now going to have a corporate tax rate that is higher than China's if the Democrats get what they want.
00:35:36.000They want to raise the top individual tax rate, and they want to include measures to raise taxes on private equity managers, capital gains, and supersized Roth IRAs used by the quote-unquote ultra wealthy.
00:35:47.000Capital gains apparently no longer apply to people who are not ultra wealthy, which is weird because it turns out that a huge percentage of Americans own stocks.
00:36:13.000What he wanted to be as president is not what the American people wanted him to be as president.
00:36:17.000He's feeling the pain of that, but it's not stopping him.
00:36:20.000We'll get to more of this in just one second.
00:36:21.000First, the lockdowns of the last year and a half have created this huge pent-up demand in terms of employment.
00:36:26.000There's like 10 million open jobs in the United States and not enough people to fill them.
00:36:29.000This means that if you're an employer and you need to find the best possible employee, it's kind of hard.
00:36:33.000searching for a needle in the haystack, this is why you need ZipRecruiter right now.
00:36:37.000You can try ZipRecruiter for free at ziprecruiter.com slash dailywire.
00:36:41.000When you post a job on ZipRecruiter, they send your job to over 100 top job sites, giving you access to their network of millions of job seekers.
00:36:47.000And ZipRecruiter's matching technology scans resumes to find qualified candidates for your open roles and then proactively presents them to you.
00:36:54.000You can easily review recommended candidates and invite your top choices to apply for your job that encourages them to apply faster.
00:37:00.000According to ZipRecruiter internal data, jobs where employers invite candidates to apply get two and a half times more candidates.
00:37:06.000ZipRecruiter's technology is so effective that four out of five employers who post on ZipRecruiter get a quality candidate within the very first day.
00:37:11.000Right now, you can try ZipRecruiter for free at this exclusive web address.
00:38:18.000Right now, we should be watching and waiting the economy.
00:38:21.000But Joe Biden is trying to ram all this through at once because he refuses to put pressure on the so-called progressive caucus.
00:38:27.000This is something Playbook is reporting, and it's kind of shocking.
00:38:30.000Again, the reality is that Joe Biden is basically not putting pressure right now on the people who ought to be pressured, namely the progressive wing.
00:38:38.000According to Politico, moderate Democrats expected Biden to start twisting House progressives' arms during their White House meeting last week.
00:38:43.000But we're told by sources in the progressive camp and another senior Democratic aide that the president has neither asked progressives to drop their demand that the reconciliation bill pass in tandem with the bipartisan infrastructure bill, nor pressured them to accept a stand-alone vote on the bipartisan infrastructure bill this week.
00:39:01.000A moderate source said, quote, the president needs to pick up the phone and call people.
00:39:04.000The person argued the White House has been in listening mode for too long, needs to start banging heads to get this vote over the finish line. It's not just moderates that are dismayed.
00:39:11.000There are a lot of mistakes happening here, said the senior Democratic aide. There's no whip effort on the bipartisan infrastructure bill yet. Everything is hanging by a thread. Biden needs to be more engaged. Progressives, for their part, believe that Biden and Pelosi are with them.
00:39:23.000One House progressive said, quote, no one has made the case to progressives or lobbied for them to change their position and vote for it before the Build Back Better Act.
00:39:31.000So Pelosi keeps saying she's happy talking this thing.
00:39:32.000She says, we're going to pass this bill this week.
00:39:34.000need both bills. So what exactly is Pelosi going to do if Schumer and the White House don't get a reconciliation deal hatched out with Manchin or Sinema by Thursday? No clue.
00:39:44.000No idea. So Pelosi keeps saying she's happy talking this thing. She says, we're going to pass this bill this week. But she said she's also not going to bring a bill to the floor that does not have the votes. So either there will be a magic moment in which Democrats come together here or Joe Biden's agenda is in serious, serious trouble as well. It should By the way, it is worth noting here that the Biden inability to get policy done here is forcing the Federal Reserve to basically come out of the closet as a political actor, which has been for a very, very long time.
00:40:11.000The supposed independence of the Federal Reserve is kind of a joke and has been kind of a joke all the way since the FDR administration.
00:40:17.000It's been an open secret that the Federal Reserve is pretty clearly manipulated by whoever is sitting in the White House at the time, and that is obvious with regard to Joe Biden.
00:40:24.000I mean Janet Yellen went from being the Federal Reserve head to the Treasury Secretary with no gap.
00:40:31.000So right now, the Federal Reserve is already making noises, saying, well, you know, if we don't pass this, if we don't pass these bills, if we don't get this debt ceiling lifted, we're going to have to take some really strong measures.
00:40:42.000What are you going to do that you haven't been doing before?
00:40:44.000Jerome Powell says the options include the Fed buying Treasury securities in default on the open market and selling Treasuries owned by the Fed to counteract potentially severe strains in financial markets.
00:40:53.000The idea would be that in order to inject liquidity into the market, the Federal Reserve is going to just start basically printing money and then buying bonds.
00:41:02.000So more quantitative easing, essentially.
00:41:19.000Others called them repugnant or beyond the pale for two main reasons.
00:41:21.000First, it would pierce the Fed's institutional preference to avoid directly financing the government, often referred to as its independence from fiscal policy.
00:41:36.000Second, Fed officials worry if such contingency planning became public, elected officials might feel less urgency to raise the debt limit.
00:41:43.000Yes, because the debt limit is a bunch of garbage anyway.
00:41:46.000As we say, the Federal Reserve is in control anyway.
00:41:48.000It's been in control for quite a long time.
00:41:50.000And so bottom line is, And that Joe Biden is having trouble getting his caucus together.
00:41:54.000He should be having trouble getting his caucus together.
00:41:56.000And all the pressure right now is on Manchin and Sinema to cave.
00:41:58.000But Manchin and Sinema have some pretty strong incentives not to cave.
00:42:01.000So it'll be fascinating to watch how all of this plays out this week.
00:42:03.000If Manchin and Sinema cave, then both of them need to go and go forth with, obviously.
00:42:09.000And by the way, the bipartisan infrastructure bill will die.
00:42:12.000Because the basic deal here needs to be that counteractive pressure needs to be brought on people like Mitt Romney and Susan Collins and all the people who signed on to the bipartisan infrastructure bill, the Rob Portmans of the world.
00:42:25.000If the Democrats decide to ram through both of these at the same time, then Republicans need to force the Democrats to shovel all that bipartisan infrastructure garbage into the broader budget plan.
00:42:39.000If they really want to own it all together, they can pass it all as one giant reconciliation bill.
00:42:43.000Otherwise, those Republicans need to push back.
00:42:46.000And by the way, my understanding is they will.
00:42:48.000The reason that Manchin and Sinema have been siding against this giant budget bill is because, specifically, they are in favor of the bipartisan infrastructure bill, and they know that that one's more popular.
00:42:59.000So they are siding with one over the other.
00:43:01.000So if they cave, Republicans need to push back by abandoning that bipartisan infrastructure bill.
00:43:06.000Okay, meanwhile, it is unbelievable how lies that are told by the social justice left just become quote-unquote fact.
00:43:13.000They're laundered as fact through our fact-checking apparatus and through our media, and no one seems to care.
00:43:19.000So one of the things that we have been following here pretty closely at The Daily Wire is the new standards and practices set up by Facebook.
00:43:26.000So Facebook admitted that for the past year they've been suppressing conservative content essentially, which we've known because we've seen our own traffic statistics.
00:43:33.000Some of the metrics that they use in order to determine what stuff to suppress is quote-unquote fact-checked material.
00:43:39.000And they say this openly now, that if something has been fact-checked, even if what is fact-checked is quote-unquote missing context, they will just downgrade the distribution of that material.
00:43:48.000Now, missing context is a designation that fact-checkers, left-wing fact-checkers, frequently use in order to ding conservative content that is not Untrue.
00:43:57.000So we print a true story, and then PolitiFact says, missing context, by which they mean that what we said is true.
00:44:04.000They just don't like that what we said is true.
00:44:06.000And then Facebook downgrades our content.
00:44:08.000And meanwhile, the fact checkers let complete lies just go completely, just utterly unquestioned in the mainstream media.
00:44:15.000Which again, plays back into the Facebook metrics.
00:44:19.000Facebook gives credit to quote-unquote widely trusted sources.
00:44:25.000What makes a source widely trusted is that it isn't fact-checked.
00:44:28.000That's what makes a source widely trusted.
00:44:30.000So, legacy media have basically re-enshrined their own monopoly on dissemination of information via the big social media companies like Facebook.
00:44:39.000That's why they were pushing Facebook so hard, right?
00:44:41.000All these big companies, the New York Times and the Washington Post, they have columnists who spend every single day just pushing Facebook to restrict dissemination of information, whether it's the Hunter Biden story in the lead up to the election, or whether it is conservative coverage of the border.
00:44:57.000And the way that they do that is they have these, quote-unquote, nonpartisan fact-checkers ding every conservative outlet and let open lies by the mainstream media go.
00:45:05.000They just pretend that these open lies by the mainstream media do not exist.
00:45:24.000So, over the past week and a half, There's been this viral photo.
00:45:30.000There's a photo that went viral of an agent, a border patrol agent, supposedly grabbing an illegal immigrant, and you can see his quote-unquote whip.
00:46:21.000Those horses are controlled by long reins, as anyone who has ever watched a Western understands.
00:46:27.000Again, not a horseman over here, but even I understand that you need reins in order to control a horse.
00:46:34.000But because the Border Patrol agents had reins and the reins were long, the notion was that these Border Patrol agents were either using full-on whips to whip people or they were using the reins in order to whip people.
00:47:45.000This is the single most taken and most distributed photo about law enforcement since the George Floyd scandal of a year ago.
00:47:51.000Now, in that particular case, George Floyd died beneath the knee of a police officer, whether or not you believe that it was causative.
00:48:00.000In this particular case, an illegal immigrant was crossing a river illegally, tried to run into the interior of Texas, a border patrol agent leaned over his horse and grabbed his shirt.
00:48:32.000The New York Times, for example, Put out this correction.
00:48:35.000An earlier version of this article overstated what is known about the behavior of some Border Patrol agents on horseback.
00:48:40.000While the agents waved their reins while pushing migrants back into the Rio Grande, The Times has not seen conclusive evidence that migrants were struck with the reins.
00:48:49.000Okay, it turns out that waving your reins at your horse is what you do when you're riding a horse.
00:50:30.000According to the mainstream media, the Hunter Biden story was a Russian disinformation operation, but our border patrol agents were openly whipping people.
00:50:38.000Our fact-checking media, by the way, will tell you.
00:50:41.000They spent a lot of time doing this a couple of weeks ago.
00:50:43.000The Taliban were not hanging people from helicopters.
00:50:46.000That wasn't a person who was dead hanging off that helicopter.
00:50:49.000That video that you saw of somebody hanging from a helicopter.
00:50:52.000The Taliban will never do anything like that.
00:50:53.000And then a week later, there's stories that the Taliban are literally hanging people from cranes in the center of Herat.
00:50:59.000But, you know, they're not gonna get fact-checked on that.
00:51:01.000But what is absolute fact, according to the entire Democratic administration, is what is clearly and overtly a lie.
00:51:08.000It is a lie that Border Patrol agents were whipping people.
00:51:36.000There's been now an investigation that is being conducted, which I fully support, and there needs to be consequence and accountability.
00:51:45.000Human beings should not be treated that way, and as we all know, it also evoked images of some of the worst moments of our history, where that kind of behavior has been used against The indigenous people of our country has been used against African-Americans during times of slavery.
00:52:05.000What in the world is she talking about?
00:52:07.000These are people illegally trying to enter the country.
00:52:10.000Not people who are attempting to evade the country.
00:52:13.000They're trying to come into the country.
00:52:15.000These are people who are trying to cross the border and claim asylum so they can live here.
00:52:19.000They're trying to get into the place that the Border Patrol is trying to keep them out of.
00:52:24.000Border Patrol isn't trying to recapture them and take them to a plantation.
00:52:28.000Like, what in the hell is she talking about?
00:52:39.000The bigger point is that when it comes to Democrats, Democrats are interested in the lie that they have to do two things simultaneously, which are impossible.
00:52:48.000On the one hand, government can cure all your problems.
00:52:51.000Government can keep you safe from COVID.
00:53:05.000Okay, so these two things can't go together.
00:53:08.000Over the course of the 20th century, these two strains of progressive thought were in complete conflict.
00:53:12.000We had the authoritarian top-down, we-can-solve-everything progressive caucus.
00:53:15.000And then, we had the authoritarian bottom-up progressive caucus, which suggested the entire system needed to be overthrown.
00:53:21.000The compromise come to during the Obama administration was perpetual revolution from the top.
00:53:27.000The notion was that if we take over the powers of government, we will be almost outsiders in our own administration.
00:53:32.000We'll sit here ripping on the structures of government until we can use our power inside the government to change the structures of government.
00:53:39.000So this is why you see the weird spectacle of members at the top of the White House ripping on the Border Patrol agents for part of their own executive branch.
00:54:19.000In the midst of meeting these challenges, we, our entire nation, saw horrifying images that do not reflect who we are, who we aspire to be, or the integrity and values of our truly heroic personnel in the Department of Homeland Security.
00:54:37.000The investigation into what occurred has not yet concluded.
00:54:41.000We know that those images painfully conjured up the worst elements of our nation's ongoing battle against systemic racism.
00:55:18.000And by the way, you're not supposed to pay attention to the fact that this administration, which said that it was not open borders, took 10,000 to 12,000 of those illegal immigrants.
00:55:26.000There are 15,000 people under that bridge.
00:55:28.00010,000 to 12,000 of them Have been released inside the United States.
00:55:31.000Did any of them get COVID tested, by the way?
00:55:47.000Here's Alejandro Mayorkas saying 10 to 12,000 illegal immigrants have been released inside the United States.
00:55:54.000Of the 17,400 that weren't deported back or didn't return on their own to Mexico, how many of them either, well first, how many have been released into the U.S.?
00:56:05.000They're released on conditions and approximately, I think it's about 10,000 or so, 12,000.
00:56:47.000Why did you allow them in the country in the first place?
00:56:49.000Why didn't you build, forgive me, a wall or a fence to stop them from walking in this flood of people coming across the dam?
00:56:57.000It looks like a highway that allows them to cross the Rio Grande.
00:57:01.000It is the policy of this administration.
00:57:04.000We do not agree with the building of the wall.
00:57:06.000The law provides that individuals can make a claim for humanitarian relief.
00:57:12.000That is actually one of our proudest traditions.
00:57:14.000Oh, one of our proudest traditions is people crossing the Rio Grande illegally and being housed under a bridge and then being released into the interior of the United States with a show-up-again date.
00:57:23.000It's a proud tradition in the United States.
00:57:29.000It's not that they hate the Border Patrol.
00:57:31.000Alejandro Mayorkas also says the Border Patrol can count on them.
00:57:34.000If you're a border patrol agent, why wouldn't you just act like police officers all over the United States have been acting and be like, you know what?
00:57:59.000Here's Alejandro Mayorca saying the Border Patrol can count on them after every major member of this administration, from the President to the VP to the Secretary of Homeland Security, is out there lying openly about members of Border Patrol.
00:58:09.000Can the Border Patrol count on you and President Biden, who has said the people will pay, to come to a determination based on the facts and not based on Twitter outrage?