In this episode of the podcast, I sit down with former Vice President Joe Biden to talk about the current state of the Republican Party and what it means for the future of the country. Joe Biden has been a long-time member of the Senate and served as Vice President between 2001 and 2006. He is a regular contributor to CNN and the Wall Street Journal, and is a frequent guest on Fox News Channel's Hard Knocks.
00:00:00.000I mean, are we on a precipice or is this really showing that the underlying fundamentals are still good?
00:00:07.000Because the world is, I mean, I've seen, you know, Jamie Dimon and others say they've never seen things more concerning.
00:00:15.000There's the geopolitical, the economic backdrop. It's really frightening, even more so than normal.
00:00:22.000I think he's right. I think there's a lot of things that are frightening.
00:00:25.000The thing that frightens me the most right now, I have to say from a market perspective, is bond yields and the fact that without, in the absence of quantitative easing, in the absence of Fed buying treasuries, treasury yields are going to move higher.
00:00:40.000And that's because our spending is out of control. We're running a budget deficit that's five and a half percent of GDP at full employment.
00:00:47.000We've looked over the past 70 years. We've never run a budget deficit of five percent of GDP when the unemployment rate wasn't above seven.
00:00:56.000And I always tell people, if you want to see what Donald Trump's going to do if he gets reelected, don't think about him lining up people against the walls and having them shot.
00:01:05.000Let's see what Orban has done in Hungary. Yeah. Where he's bragged about having a liberal democracy and he's wiped out the judiciary.
00:01:14.000He's wiped out the free press. And then I suppose that's probably what Donald Trump will look for as a blueprint if he gets elected again.
00:01:23.000Well, one thing we know he'll do and there are there are plans floating around that indicate that he'll try to certainly he will try to eliminate the civil service in the United States, public administration.
00:01:35.000And while civil service can always be reformed and we can have legitimate arguments about it, the idea that he could fire everybody and replace them with loyalists, in other words, with just people who are loyal to him and who aren't necessarily qualified in any other way.
00:01:49.000That is exactly what Netanyahu did. That's exactly what he's being accused of right now.
00:01:54.000That is exactly what law and justice did. You know, they brought in people who weren't competent, but instead were, you know, somebody's cousin or somebody's wife or somebody's, you know, some party member to run, you know, to run the state.
00:02:07.000And that is incredibly dangerous. You know, you just don't know what what you're opening yourselves up to.
00:02:14.000And in the case of Netanyahu, I mean, at the very least, we know for a fact that the aftermath of the Hamas raids, in other words, cleaning up those towns and villages that were attacked.
00:02:24.000All of that has been done by volunteers, including some of the volunteers who were organizing demonstrations because the government is now pretty incompetent and they were not able to come in and help in the aftermath.
00:02:36.000You know, and that's the kind of tragic disaster that we that we could also face decided declined not to rally votes to try to convict him in impeachment, which would have prevented Trump from running again.
00:02:47.000So where does Romney see this going in the next couple of years?
00:02:50.000You know, when he entered the Senate in 2019, he had this sort of quaint idea in retrospect that he could steer the party back toward its sensible recent past.
00:03:02.840Right. He believed that all the Republican caucus in the Senate really needed was a voice of sanity and that that there were still a lot of good people in the party who were just scared to speak up over the next several years.
00:03:16.960And I was talking to him through a lot of this. He became more and more aware that that that wasn't going to happen.
00:03:23.960He told me at one point that, you know, I thought that there were more of us and just a few of them speaking of kind of the pro Trump MAGA wing of the party.
00:03:33.960And over time, I realized, oh, there's way more of them and only a few of us left.
00:03:37.960And so I think he is worried about the future of the party to the point where I'm not sure, you know, how much he'll even continue to identify as a Republican.
00:03:46.960Look, I think what you're seeing right now and among the Republicans in the House is a direct result of the decisions that Kevin McCarthy made to embrace Donald Trump,
00:03:57.040to embrace the most radical and extreme members of our party, to elevate them.
00:04:01.200So it's not a surprise that we are where we are. But but it's a disgrace and it's an embarrassment.
00:04:06.200And there certainly are serious people among the Republicans.
00:04:10.200I hope that that one of them, particularly, I think it's important to me not be an election denier.
00:04:15.200And I also think everybody should be asked tomorrow night at the candidate forum about this issue of Ukraine assistance.
00:04:20.200And they should be asked from the perspective of we face a global challenge and existential threat.
00:04:25.200And how in the world could anybody defend at this moment surrendering to one of our adversaries?
00:04:30.200But if it came down to it, even though you disagree with Joe Biden on almost every issue under the sun, other than maybe Ukraine and Israel, would you vote for him over Donald Trump?
00:04:41.200We're going to see what what happens. We're going to see how things unfold.
00:04:45.200I think Donald Trump is the single most dangerous threat we face.
00:04:48.200I would imagine that there will be a number of other candidates in the race.
00:24:00.200They come through about once a month to pick them up.
00:24:02.200Drug dealing, if you would have finished that video, you can watch the rest of it.
00:24:05.200I'm actually witnessing drug dealing out on the streets.
00:24:08.200We're inviting in criminal elements, Tren de Agua out of Venezuela.
00:24:11.200We're inviting in cartel members from all of these countries.
00:24:14.200You're talking about exacerbating the R rate.
00:24:16.200And ironically, one of the guys was actually wearing a BLM Minneapolis shirt.
00:24:20.200So you take all the bad things that are going on in America, and then you bring in people from third world countries that have no love for our country.
00:34:16.200These forced deployment options of sending signals about our resolve, about sending 2,000
00:34:22.200troops to Europe to be ready, about moving some patriots and some theater ballistic missile
00:34:31.200defense systems, air defense systems to Saudi Arabia.
00:34:35.200These are good things in and of themselves, but they're not going to deter Iran and their
00:34:41.200proxies because what deters them is an actual strike like what happened in the killing of Soleimani.
00:34:48.200What actually deters them is taking out an Air Force base like President Trump did when the Syrian government used the chemical munitions in the north of the country.
00:35:00.200Action is what matters, and believe that you are actually going to take action if you cross a red line.
00:35:07.200And understand, Blinken and Austin have communicated a red line that is, if you kill American soldiers or you attack American bases and kill American soldiers or civilians, diplomatic personnel.
00:35:23.200So that's the red line that we're supposedly communicating.
00:35:30.200But if that's a red line, that's a very dangerous, maybe you put more people and you've exposed.
00:35:35.200Look, the troops in Iraq have been exposed ever since we didn't really get the forces of agreement from from Biden.
00:35:41.200This thing this is my point is where we're putting Tinder into a place that's about to go up at the same time.
00:35:49.200It appears that we're into the whole nation building mode of the Bush thing with with the Palestinians in Gaza.
00:35:56.200We're we're shoveling hundreds of millions of dollars every day.
00:36:00.200No money to East Palestine, Ohio, but plenty of money to Palestine.
00:36:04.200At the same time, it seemed like we're holding back.
00:36:08.200Are we holding back the Israelis from the ground campaign?
00:36:11.200We are absolutely holding back the Israelis from the ground campaign because of our concern about hostages and moving the hostage negotiation forward.
00:36:19.200We gave one hundred million dollars the other day.
00:36:23.200And in the supplemental, Steve, there's three point five billion dollars designated to be given to Gaza and Hamas for rebuilding.
00:36:32.200Three point five billion dollars of American money going to Hamas in Gaza for rebuilding.
00:36:43.200While we're holding back and the Israeli defense forces and putting pressure on them to provide things like water and stuff to the country and the people,
00:36:54.200because I call Gaza a country because it has an elected government.
00:37:16.200They're trying to get it on on the northern side because as bad as the Muslim Brotherhood in Hamas are in Gaza in the south, because what you've got here is really Turkey.
00:38:17.200Low-level, I say, but here's the problem.
00:38:20.200For the Israelis, they've had to evacuate, for example, one small town of 20,000 people.
00:38:26.200And they have to move them back into the country, Tel Aviv and farther south, where they're being put up in neighborhoods and communities and in hotels.
00:38:35.200And it's a war zone up along the northern frontier.
00:38:39.200And IRG commander was just in Tel Aviv, excuse me, just in Beirut coordinating with Hezbollah.
00:38:51.200And they continue to move more supplies through Syrian airports in Damascus and Aleppo, which, by the way, Israel has been striking on occasion when they have targets that they think they can hit that have critical missile technology and munitions that are coming into the country of Syria to go on to Hezbollah in southern Lebanon.
00:39:15.200So this is a low-level war going on all around.
00:39:18.200We've got Iraqi Shia militias moving into Jordan, according to credible reports.
00:39:23.200And the Jordanians are looking the other way because they don't want to get in a crossfire here.
00:39:35.200They have one frigate that they moved into the Persian Gulf, along with two destroyers.
00:39:42.200All three of those combatant ships have sophisticated air defense systems that can, if they wanted to, they could shield Iran from strikes that might be coming from the Gulf or Israeli strikes that might come from that direction, trying to take that southern route.
00:40:00.200But Israelis and others could always fly over Iraq if they needed to get to Iran.
00:40:05.200But those three ships have got sea-to-land cruise missile capabilities that are pretty sophisticated, too.
00:40:15.200And they've got the supply tenders and other things there to support those three combatant ships.
00:40:20.200This is a signal by China that they're in this and they're trying to influence potential relationships with Arab states and align with them against the United States.
00:40:31.200Well, they're underwriting the Persians.
00:40:34.200It's the long-term output deals at favorable prices, one, to de-dollarize because they're trying to work out baskets of currency.
00:40:42.200They don't have to exchange it into dollars.
00:40:44.200And they basically underwrite the mullahs.
00:42:00.200So, but people, obviously, certain people knew about this before the attack.
00:42:07.200It's just impossible to have that organized, the scale of it, the breadth of the country of where they went, the lethality of it, air, sea, land.
00:42:17.200How do we avoid this being the ground campaign leading us into a bigger, broader Middle East war that we're in for 20 years and could bankrupt the country, sir?
00:42:28.200Well, I think first and foremost, we need to have an outcome and we have to think about what is the outcome.
00:42:35.200And I think the outcome that is best for the United States and best for Israel security, but also for stability in the region, is for Israel to actually be successful in dismantling Hamas in Gaza.
00:42:52.200And that's going to be a heavy, heavy, heavy, heavy lift.
00:42:55.200But anything short of that is going to be problematic for U.S. interest and Israeli interest in the region.
00:43:01.200How you get there, I'm not exactly sure at this point in time.
00:43:06.200Now, that said, deterrent options and making sure that Hezbollah and Iran know that opening up a larger front more extensively than has already happened is going to be met with consequential responses that are far more severe than anything that has occurred to Lebanon in the previous conflicts.
00:43:28.200And Hezbollah took a heavy beating in the last conflict.
00:43:34.200And Israel is communicating very clearly that this will be overwhelming force and they're going to be willing to accept the civilian casualties that are going to inflict.
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00:45:36.200Derek, folks, a lot of folks want to support Israel and they understand the hurdle they have.
00:45:46.200But this has been festering for a long time.
00:45:49.200And quite frankly, it's not acceptable as an ally.
00:45:53.200And I understand people said, well, this is a tough thing to say, but it's got to be said to let your guard down like that because you're exposing us.
00:46:02.200They got to take some responsibility and some accountability.
00:46:05.200It's just not acceptable for them to have the burning man and have these kids down there and have everything going on.
00:46:11.200The IDF not ready and have the watchtowers with the with the no guards on them and to have this thing overrun and the IDF not not not go for seven hours.
00:47:39.200It's another open ended 20 year Middle East war that will even be bloodier than Iraq and bloodier than Afghanistan combined.
00:47:48.200Am I incorrect in any element of that, sir?
00:47:52.200Well, one thing I would say is, you know, I share your concerns because if we go into this with a Biden-esque approach of wanting to just manage this and tippy toe instead of being decisive.
00:48:06.200Part two is the IDF and Bibi and President, I mean, Prime Minister Netanyahu do not want American military forces engaged in this conflict.
00:48:16.200They want the intelligence, the supplies, logistical support, that type of thing.
00:48:21.200But they do not want the U.S. directly involved.
00:48:24.200That said, Israel is taking their time right now and they don't want to rush into Gaza with the ground campaign.
00:48:33.200Keeping Hamas on edge, continuing to do battlefield preparation, pounding them, hitting command and control nodes, ammo points, firing points, etc.
00:48:44.200While keeping pressure on Hamas, that is setting the stage for what will come next.
00:48:50.200Keep in mind that we took six weeks of preparation to go into Iraq.
00:48:58.200And it was not as tough a situation as this very condensed area of Gaza with the tunnels and the urban terrain and having to fight through, you know, building by building, block by block.
00:49:11.200So I think that's that's good concerns about the IDF.
00:49:16.200Yes. The additional time is good for the IDF to focus and get their act together.
00:49:21.200The armor forces are really good and the artillery forces are really good in in the IDF.
00:49:30.200The problem for them is their regular infantry ground forces, except for some of their elite units.
00:49:36.200So that's that's going to take some, you know, upping of their their game here.
00:49:41.200And that additional time will benefit them.
00:49:44.200That said, Israel is establishing its red lines and its deterrent lines, and they can handle their own.
00:49:51.200This war will not last long, in my view, if it erupts with Lebanon, because Israel will strike with overwhelming force.
00:50:00.200They're not going to play this intra-war escalatory game of I hit this, you hit that, and then we're going to escalate.
00:50:07.200They're going to hit hard with overwhelming force.
00:50:10.200And they're daring Iran to get into this because they're saying some of their ministers and former, former participants in the government with Benjamin Netanyahu,
00:50:21.200who, before the UNID government came into play, are communicating with Tehran and letting them know that there are real red lines and that Iran will pay a heavy price on Iranian soil.
00:50:39.200By the way, I'm going to find out about this.
00:50:41.200We couldn't do a dumber thing than to send an aircraft carrier through the Suez Canal right now as a sitting duck to get to the to the Red Sea and the Persian Gulf.
00:50:49.200Hopefully, if they're going to do that, either bring from one from the Pacific fleet or take it out around the Med and take around the Africa.