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Sept. 14, 2022 - The Ben Shapiro Show
42:41
Joe Biden Celebrates Reducing Inflation…As Inflation Continues To Explode | Ep. 1574
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Joe Biden holds an event at the White House celebrating the hilariously misnamed Inflation Reduction Act.
The Dow Jones Industrial Average drops 1,200 points after inflation stats come in red hot and Democratic Senate candidates are struggling.
I'm Ben Shapiro.
This is the Ben Shapiro Show.
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Slash Ben will get to all the news in just one moment.
First, as you know, inflation is at record highs because Joe Biden is a terrible president.
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So, yesterday, the inflation statistics came in and they were red hot.
The expectations by economists have been at 8.1% annualized inflation.
Instead, they came in at 8.3%.
inflation. Instead, they came in at 8.3 percent. The consumer price index had increased 8.3 percent over year over year. According to the Wall Street Journal, consumer prices overall rose more slowly in August from a year earlier, but increased sharply from the prior month after excluding volatile food and energy prices, showing inflation pressers remain strong and stubborn.
The Labor Department on Tuesday reported its consumer price index rose 8.3 percent in August from the same month a year ago.
That is down from 8.5 percent in July and 9.1 percent in June, which is the highest inflation rate in four decades.
The CPI measures what consumers pay for goods and services.
But again, All that means is that we are still wildly inflated over last year.
It does not mean that inflation is actually really reducing.
It just means that it's increasing at a slower rate.
So-called core CPI, which excludes energy and food prices, increased 6.3% in August from a year earlier, upmarkedly from the 5.9% rate in both June and July, a signal that broad price pressures actually strengthened.
And so the only force that was militating against an even worse inflation number is the fact that gas prices have come down.
Gas prices have come down because people are spending less on gas.
Demand is starting to wane on gas.
And so what that means is that all of the other forces that are boosting that number, the things that you really spend a lot of money on things like your rent.
things like your food. These things are incredibly expensive. On a monthly basis, the core CPI rose 0.6% in August. That is double July's pace. That's actually an increase in the inflation rate over July from core CPI. Investors and policymakers follow core inflation closely as a reflection of broad underlying inflation and as a predictor of future inflation. Jamie Cox, managing partner for Harris Financial Group said in a statement, these data are hot and are a reflection of feed through of higher energy prices from earlier this year.
Inflation is a stubborn thing.
U.S.
stocks tumbled, bond yields jumped after the report showed the price pressures are proving to be more persistent than investors anticipated.
That, of course, makes perfect sense.
The stock market is saying This means that earnings are likely to drop and this means that prices are likely to drop and they're starting to move toward bonds because again, if the inflation rate is really hot, that means the interest rates are about to increase.
The Dow Jones Industrial Average dropped nearly 1300 points or 3.9% on Tuesday.
point or 3.9 percent on Tuesday. The S&P 500 fell 4.3 percent while the Nasdaq composite slid 5.2 percent. The yield on the benchmark 10-year U.S.
Treasury note settled at 3.422%, according to TradeWeb.
That is up from 3.297% just before the inflation data were released.
Inflation has recently shown signs of easing for some goods and services, mainly gas.
But the problem is, prices for most goods and services remain much higher than one year earlier.
On a monthly basis, prices rose more for items tracked by the CPI in August than in July, which is an escalating rate of inflation.
On pretty much everything except for gasoline.
Food prices continued to climb sharply this past month.
It rose 0.8% in August from July, as did those for new vehicles.
Prices also rose last month for medical care, education, electricity, and natural gas.
One key channel of inflation is rising housing costs.
Those rose 0.7% in August from July.
These costs account for nearly one-third of the overall CPI.
Once housing costs start to rise, that momentum tends to persist.
And a lot of that, of course, is increase in rent, because as those interest rates increase and as mortgage rates increase, people are not buying homes, which means they still need a place to live.
And the place that they are choosing to live is in rental apartments, for example.
This is generating extraordinary pressure on American households.
The inflation debate seemed to have sort of waned over the course of the last couple of months as the media dramatically tried to refocus on things like climate change and Trump.
And you can see it reflected in the polls as Republicans started to decline in the generic congressional ballot and Democrats began to increase in the generic congressional ballot.
Well, inflation is now top of the ticket again.
And it's going to get worse for Democrats before the election, not better, especially considering the way that the Biden administration has chosen to actually fend off allegations that they have postured inflation.
They're not saying, well, you know what, guys, we are going to get this under control.
And the way we're going to get this under control is we are going to push for an increase in the interest rates.
We're going to become more fiscally responsible.
We're going to stop blowing money into the economy.
We're going to stop wasting all of your taxpayer dollars on random nonsense.
Instead, they've basically gone out there and they've started telling everybody that it's all in their mind.
That if you are paying 13% more for food this year than you were last year, which is pretty much what you're paying, if you are doing, if that's what you're feeling, you are feeling wrong.
It's economic cognitive behavioral therapy.
You are upset about the economy.
You're spending on a monthly basis, hundreds of dollars more than you were just a year ago.
And it's really all in your head, right?
You're looking at your checkbook and you're thinking, no, those are numbers wrong.
Those are not numbers.
That is all imaginary because Joe Biden tells you so.
According to the Wall Street Journal, inflation infighting is happening now within households because food prices are up.
The consumer price index was up 8.3% year over year in August, according to the Labor Department, and various couples have been making sacrifices to cope.
They're changing how they shop, specifically because of all of this, and this is causing household fights.
Again, these are real, when you talk about kitchen table issues, there's no thing, like literally, there's nothing that is more kitchen table issue than how much your food costs.
And it's not just food, by the way.
Electricity and some heating costs are rising as well right now.
According to the Wall Street Journal, U.S.
consumers are getting a reprieve from high gas prices, but a jump in electricity and natural gas costs are increasing their energy bills as winter approaches.
Gas prices have dropped about 26 percent since June, helping to bring the U.S.
Consumer Price Index for energy in August down 5 percent from July, a second consecutive monthly decline, according to the Labor Department data.
Other energy costs are rising, offsetting relief at the pump.
The index for electricity in August climbed 15.8% year over year.
That is the biggest such 12 month increase since 1981.
So basically all the savings that you are seeing on gas are now being eaten up by your electric and heating bill, which is a serious problem for most Americans.
Also worth noting, one of the ways Joe Biden sought to lower the gas price at the pump is that he released Hundreds of millions of barrels of oil from the Strategic Petroleum Reserve, putting it at its lowest level in decades.
Well, now he is seeking to buy back a bunch of oil to restock the Strategic Petroleum Reserve.
Meanwhile, in terms of overall income, according to the Wall Street Journal, Americans as a whole have experienced two years in a row of flat or declining household income, according to new government data, reflecting the pandemic's lingering economic pain as inflation is also taking the largest bite out of pocketbooks in four decades.
In its annual assessment of the nation's financial well-being, the Census Bureau said median household income of about $70,800 in 2021 was not statistically different in a real way from an inflation-adjusted 2020 estimate of about $71,200.
statistically different in a real way from inflation adjusted 2020 estimate of about $71,200. That should have been a minor decline. Lack of any real growth for 2021 follows a decrease in incomes recorded in 2020.
And this year, too, wages are being outpaced by inflation.
The road ahead for the U.S.
economy remains uncertain, with the Federal Reserve aggressively raising interest rates while trying not to trigger a recession.
But it's not going to happen.
They're going to have to ramp up the interest rates to dramatic rates in order to cramp the incipient inflation bubble that is now eating up pretty much everybody's wage increases.
By the way, banks are seeing people withdraw money specifically because they need the money.
Deposits at U.S.
banks, according to the Journal, fell by a record $370 billion in the second quarter.
That is the first decline since 2018.
Basically, the money pushed a bunch of money.
Basically, the government pushed a bunch of money, a bunch of cash into people's pockets, and now people are withdrawing it at extraordinary rates in order to pay off these inflationary bills.
Deposits fell to $19.563 trillion as of June 30th.
That is down from $19.932 trillion in March, according to the Federal Deposit Insurance Corporation.
The outflow in the quarter is not a problem for banks.
They're sitting on more deposits than they want.
But it does show that people are beginning to withdraw extraordinary amounts of money from the banks right now.
And as the government attempts to rein in the amount of inflation, when people are withdrawing a lot of money from the bank and they're spending it, that is not going to rein in the inflation.
That means probably more spending, which means presumably higher prices.
We now have a price-wage spiral, for example.
The federal deficit, by the way, widened to $220 billion in August as well.
According to the Wall Street Journal, the federal government ran a deficit of $220 billion in August, a shortfall that widened compared with the year before as spending grew faster than revenue collection last month.
The government spent $523 billion last month alone, which is unbelievable.
The amounts of money that we spend in this country are just insane.
An $84 billion increase that largely reflected calendar differences in how payments were distributed in August 2021.
Government revenues were $304 billion, a $35 billion increase.
So we spent $220 billion more than we took in last month.
But don't worry, Joe Biden is fiscally responsible, guys.
Which, of course, is why the stock market suffered the worst day that it has since literally the middle of the pandemic in June of 2020.
Now, serious economists, people who are not spending their days with their heads directly up Joe Biden's rectum, serious economists are looking at this and they are saying, okay, this is a serious Now institutionalized problem with the American economy and this is not going to end without significant pain.
Larry Summers, the former Treasury Secretary and National Economic Council Director, who of course worked under Bill Clinton and was warning about inflation from the very beginning.
He is out there saying that the United States still has a serious inflation problem.
He said core inflation is higher this month than for the quarter, higher this quarter than last quarter, higher this half of the year than the previous one, and higher last year than the previous one.
He also said that median inflation rose to its highest ever reading.
Indeed, median inflation rose from 6.3% in July 2022 to 6.7% in August of 2022.
So the simple fact is, Summers said that the odds of inflation falling to 2%, which is what the Federal Reserve typically targets, without unemployment spiking above 4.5% is highly He says that you're going to have to raise the interest rates above 4% generally.
He said 4% is not going to do it.
I've been saying this for a while, that the total interest rates set by the Federal Reserve are going to have to be more like 5% or 6% to get inflation anywhere near under control.
So again, this is this is Joe Biden's fault.
This is the Federal Reserve's fault.
They've done a terrible job.
So the strategy from the Biden administration is to tell you that if you notice you're crazy.
They're really going to try and gaslight you on this thing.
They're going to try to pretend that everything is fine.
So Joe Biden tweeted out, Um, what now?
This data show progress in fighting inflation.
This month, prices overall were essentially flat.
Gas prices were down, wages were up.
That's good news for American family embassies.
My plan is showing we can lower costs, create jobs, bring manufacturing back to America.
Um, what now?
What?
Really?
Did yesterday's data show progress in fighting inflation, considering the rapidly increasing price of food and energy?
And energy aside from gasoline?
The rapidly increasing price of rent?
Really, is that the progress?
He says, prices overall were essentially flat, which is another way of saying that we still have a hotly inflated economy.
And wages were up, but they're getting eaten by inflation.
So if you are making more money from your job, but then everything costs a lot more, that doesn't mean anything.
In order for wages to truly be up, they have to outpace inflation.
But this is the entire Biden administration strategy.
They're just going to try to pretend everything is fine.
Alrighty, so Larry Summers properly summing up the fact that inflation is not going away anytime soon.
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So Corinne Jean-Pierre, the extraordinarily untalented White House press secretary, she yesterday was saying, she said, you know, we're seeing moderation in prices.
Don't you see the good news here, guys?
Look at the good news.
There's so much good news.
Pay attention to the good news.
There's no good news.
This month, we saw some welcome moderation in the price increases for food at the grocery store.
It's moderating, which is important.
And real wages are going up again for the second month in a row, giving hard families, hardworking families, just a little bit of breathing room that you hear the president say.
Oh, is that?
Are you feeling the breathing room?
Feel the breathing room, guys.
Sure, the prices continue to spike, but feel that breathing room.
So then she was asked, you know, you did pass the Inflation Reduction Act, and it seems like inflation is not being reduced.
Not only did you pass the Inflation Reduction Act, yesterday, the White House held a big celebratory event for the Inflation Reduction Act, which led to some extraordinary contrast between Joe Biden speaking on screen about the Inflation Reduction Act, and then in the bottom of the screen, the stock market numbers, the ticker going down 1200 points.
It was really, really not a very good screen cap for the Biden administration.
So Corinne Jean-Pierre was asked about the Inflation Reduction Act, and she's like, well, you know, sure, it doesn't reduce inflation right now, but it will in the future.
And it's about climate change.
And they got nothing.
What exactly would the Inflation Reduction Act do to reduce inflation in the short term?
So, when you look at the lowering costs in particular for Americans, I think that's important when you think about how inflation has increased costs for Americans.
If you think about the $100 Saving about $100 per year on premiums with ACA.
When you think about lowering costs for our seniors, capping that at $2,000 a year instead of thousands and thousands of dollars a month.
That lowering of cost as we deal with a time that is difficult for many Americans.
Yeah, you feeling secure now?
You feeling secure with these people in charge?
Okay, so all of this was in the midst of a day in which Joe Biden was celebrating with his friends in the Democratic Party about passing a $1 trillion green energy boondoggle that is going to be a SOP to a bunch of Solyndra-like companies.
And the level of out of touchness of this White House really is quite amazing.
You have to understand that most of the people who staff places in Washington, D.C., these are not people, you know, the higher level staffers, the people who write these bills.
These are not people who are deeply worried about the price of groceries because they don't exist in that world.
The journalistic establishment does not exist in the world where the price of groceries is like a major obstacle to their way of life.
They're not living the lives of blue collar workers in Ohio, for example.
I get it.
I don't live that life either.
The difference is I know blue collar workers in Ohio and nobody in journalism or apparently in the Democratic administration has ever met anybody who's a blue collar worker in Ohio.
So their way of celebrating the Inflation Reduction Act is they they took out of storage James Taylor.
James, you remember, like, the kind of folk rock singer from the 1960s?
So they dredged him up from a crypt somewhere, and they brought him forth to sing Fire and Rain, which, by the way, is a depressing song about suicide.
So I guess it's appropriate.
Also, this song was written in—it's a great song.
It was written in 1968.
Ironically, the year when another massive spending president who believed himself to be a world-changing figure had to withdraw from a presidential race because he was so wildly unpopular and was leading the American economy into a roadside ditch.
So, I guess there is some sort of appropriateness to James Taylor.
He literally came out and sang Fire and Rain at the Inflation Reduction Act celebration ceremony.
Here we go.
I have seen fire, I have seen rain Such boomer stuff, man.
It's a great song, but what?
I've seen lonely times and I could not find a friend.
I'm sorry.
But I always thought I'd see you.
I mean, listen, I guess at this point I should just be pleased that Joe Biden didn't call forth Megan Thee Stallion and Cardi B to rap about their vaginas in celebration of the Inflation Reduction Act in pursuit of equity or something.
I mean, I guess at least I should be happy about that, right?
I mean, at least it's James Taylor whose music is actually listenable.
Be grateful, America.
So then all of the politicians came forth to pay homage to the amazingness of Joe Biden.
This part is really funny.
So Joe Biden, first of all, even if you like the Inflation Reduction Act, which is the most misnamed act in human history, they're literally celebrating the Inflation Reduction Act as inflation stats come in at 8.3% and food comes in at 13%.
It's unbelievable.
I'm trying to think of an act that has been more misnamed than the Inflation Reduction Act in history.
There was a pact in the 1920s to end all war, and it was right before the outbreak of World War II.
That one was bad.
The naming of this act, though, the Inflation Reduction Act, which is what if we pour $1 trillion into the economy in the middle of an inflationary spiral to stop inflation, and then we'll celebrate it on the White House lawn as the stock market plunges 1,200 points thanks to our inflationary pursuits.
That's pretty amazing.
One of the other things that's amazing here is even if you like the Inflation Reduction Act for no apparent reason.
You were hit on the head with a frying pan when you were a child or something.
If you love the Inflation Reduction Act, it's just your favorite.
Would you credit Joe Biden with that?
Joe Biden went to sleep in Delaware and when he woke up, they'd passed it.
It had nothing to do with Joe Biden.
It was Chuck Schumer and Joe Manchin and Nancy Pelosi who hammered that thing out.
Meanwhile, Joe Biden was being who's being comatose in a basement in Rehoboth Beach.
It's amazing.
So Chuck Schumer comes forward to talk about how Joe Biden is a great leader.
He's a great leader, guys.
He's so great at the leading.
Joe Biden can't lead himself to the bathroom.
Here is Chuck Schumer.
He has restored dignity, respect, and a sense of action back to the Oval Office.
Talking about the same guy?
Oh, we will find that out in 2022, will we not?
leadership. Americans are seeing what it looks like to have a president and a Congress that's focused on delivering results to make their lives better.
Oh, we will find that out in 2022, will we not? Whether Americans really, really like what you guys have been doing. Joe Biden is an amazing leader.
And meanwhile, Joe Biden's walking into walls over here.
Like, Joe, Joe, not that, not that way, not that way.
You got Joe Biden and the Easter Bunny pulling him away.
Schumer then, of course, as a unifying figure, he says, MAGA Republicans divide us, but Joe Biden brings us back together.
This obnoxious nonsense about how anyone who opposes your agenda is an extremist, who is a threat to domestic security, is really scary.
It really is.
Remember, they have not defined MAGA Republicans.
This is a celebration for the passage of a fully partisan act.
There was not one Senate vote by the Republicans, including people like Mitt Romney and Susan Collins, in favor of this so-called Inflation Reduction Act.
Not one.
And what he's saying is if you didn't vote for it, you are a Republican extremist who wants to end democracy.
Here we go.
With the challenges we face, not a single Republican joined us to make these new investments and new jobs possible.
Not one.
That's the difference between the two parties in a nutshell.
While MAGA Republicans are fixated on their extremist agenda like a national abortion ban, Democrats are focused on creating jobs, lowering costs, and bringing the country together.
This is such unbelievable gaslighting.
I mean, what Chuck Schumer says right there is such unreal gaslighting.
It's truly amazing.
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So, understand, he just claimed that if you did not support this Garbage Inflation Reduction Act, you're Mitt Romney, you're Susan Collins, you didn't support it.
Lisa Murkowski did not support it.
If you didn't support it, you are a MAGA extremist.
We now know that MAGA extremist means that you are a domestic terrorist who wishes to overthrow the country, according to Joe Biden.
But Joe Biden is bringing us back together and reducing inflation.
And bringing back jobs.
Oh, is that all the things that they're doing?
Okay, so Nancy Pelosi was also brought out of mothballs here.
Our leadership class, just as a general observation, and this is true across the board, when your entire leadership class in a country is geriatric, this demonstrates a complete lack of forward progress in a country.
It is a serious issue.
If the entire leadership class of your country is a bunch of 80-year-olds, that does not speak well of the future of your country.
It just doesn't.
And when it's Nancy Pelosi, who is in excess of 80, and when it is Joe Biden, who's 80, and when it is Chuck Schumer, who is, I believe, 71, on one side of the aisle, and then on the other side of the aisle, your leading presidential candidate is also approaching 80, right?
Donald Trump is also approaching 80 at this point.
And Mitch McConnell is similarly an elderly person.
McConnell's age right now is 80.
Like, this does not speak of an American political system that is thriving here.
Anyway, Nancy Pelosi has brought forth dentures a-clacking to explain that the Inflation Reduction Act is bringing down the cost of kitchen table items.
There's great irony to the fact that no one can afford to put anything on their kitchen table at the moment that she is discussing how she's bringing down costs.
And then she has to beg people for applause, which is always great.
You remember when Jeb Bush had to ask people to applaud and it became a meme?
So now Nancy Pelosi's doing the same thing.
Inflation Reduction Act, so beautifully named for all that it does.
So beautifully named?
As the name suggests, this landmark law is cutting costs and inflation fighting and driving down costs for kitchen table items for America's working families.
Mr. President, thank you for unifying and inspiring a vision of a stronger, fairer, safer future for all, for our children.
Your extraordinary leadership has made this glorious day possible.
Glorious?
Wow.
That's an applause line.
That's an applause line.
Unbelievable.
Unbelievable.
Your glorious leadership has made this day possible.
People are like, who is she talking about?
She's talking about Joe Biden?
It's the most greatly named act of all, the Inflation Reduction Act.
It's like every other democratic act.
That's the Equality Act, which is really just about enforcing LGBTQ agenda items.
Or it's the Voting Rights Act, which is really just about changing voting procedure to make it easier to vote illegally.
Whenever a party names an act, you can assume that the name of the act is not actually what is in the act.
The only difference is that what the media do is the media routinely call things by what the Democrats wish them to be called.
And if Republicans have an act, then the Democrats just make up a name for the act, and then the entire media call it by what the Democrats want it to be called.
It's always what the Democrats want it to be called.
If it's the Inflation Reduction Act, we don't call it the Green Boondoggle Act of 2022, which is what it is.
We call it the Inflation Reduction Act.
If Florida passes a law saying that you should not teach sexual orientation and gender identity to five-year-olds, then the media immediately start calling it the Don't Say Gay Bill, right?
And this is what they do, because the Democrats are calling it that, which demonstrates, again, the complete merger between the Democratic Party and the media.
Okay, so finally, we get to Triumphal Joe Biden.
Triumphal Joe Biden is one of the worst forms of—he's wearing his aviators.
This is how you know that he's triumphant.
When Joe Biden wears it, we have been reliably informed that when Joe Biden wears aviators, it's not because he is suffering from astigmatism.
It is because he actually is triumphant.
So triumphant Joe Biden trying to, I don't know, bluster his way through eating mashed potatoes here, talking about how it wasn't easy to pass, but we did it.
I do love that it wasn't easy to pass.
You mean with entirely Democrats?
Like, literally, it was just Democrats.
No one else voted for this thing.
Here is Joe Biden.
Let's be honest.
Passing this law wasn't easy.
It wasn't.
I proposed as soon as I got here, basically.
And I've said that day that I determined, I was determined.
I was determined and determined.
And I've done that.
In fact, I think it's fair to say we've achieved more bipartisan agreement in these nearly two years in my presidency than anyone thought was even remotely possible when I entered office.
That's not true.
Actually, what happened is that you kept pushing forward radical proposals.
And even Mitt Romney, I say again, Mitt Romney, Susan Collins, these are people who voted for the Infrastructure Act.
That's the only thing that was done on a real bipartisan basis under Joe Biden.
The Inflation Reduction Act was not bipartisan.
The quote-unquote American Prosperity Plan was not bipartisan.
Bill Backbatter died because you couldn't even get your own Democrats on board.
He's been a hack partisan president throughout his presidency.
He came in and the idea was he was going to restore normalcy and do a bunch of things that people could agree on.
And then he did precisely the opposite and then said that you're a terrorist.
This has been the agenda of the Biden administration.
It really is an amazing thing.
And then the gaslighting continues, right?
So this was the part that was really funny.
If you actually watched this speech on, for example, Fox News, you would see underneath the stock ticker.
And it was very awkward because as he was talking about how the American people were winning and how fiscally responsible he was, you could just see the stock ticker going.
So here is Joe Biden talking about how the American people won.
Weird because they don't feel like they won here.
Exactly four weeks ago today, I signed the Inflation Reduction Act into law.
A single most important legislation passed in the Congress to combat inflation, and one of the most significant laws in our nation's history, in my view.
I said it then, and I'll keep saying it.
With this law, the American people won, and special interests lost.
Lost.
Say it again.
The American people won, and special interests lost.
I'll say it again.
The American people won, and ostriches can fly!
What an amazing president he is.
The special interest lost by being handed a trillion dollars in subsidies.
That's how they lost.
I don't know what losing feels like to you, but typically when the government tries to give me billions of dollars to waste on inefficient green energy projects, that doesn't feel so much like losing to me.
It just, it doesn't.
And then he continues, he said, when Joe Biden pretends that he is fiscally responsible, Joe Biden pretending that he is fiscally responsible is like OJ Simpson saying that he is excellent with women.
Like, I'm sorry.
No, sir, you are not.
No, you're spending more money than any president in human history, more than any person in human history has ever spent on anything you're spending.
And then you're declaring that you are fiscally responsible.
What in the?
It's like Ted Kennedy declaring that when it comes to alcohol, he's a responsible human being.
I just occasionally drive off bridges.
I don't know.
It happens.
Here's Joe Biden.
The gaslighting is so strong.
He's just lying to your face and then hoping that because you hate Donald Trump and Orange Man bad that you're going to pretend that he's not the president and he's not presiding over an inflationary spiral we haven't seen since before I was born.
Here we go.
For this fiscal year, a trillion five hundred billion dollar reduction in the deficit.
So I don't want to hear it anymore about big spending Democrats.
We spend, but we pay.
You have never.
What?
Literally, the only Democratic president who attempted to balance budgets at all was Bill Clinton.
Joe Biden says that that you pay for what you spend.
In what world is that true?
In what world is that remotely true?
He's saying that he keeps saying this lie, which is that he's reducing the deficit.
Again, if I spend $200 on my credit card bill this month and I spend $100 on my credit card bill last month, that's not reducing my total debt.
If you call that reducing deficit because I spent less this month than I did last month, that is so unbelievably dishonest to claim that now you're fiscally responsible because you're spending a little bit less in the red than you were last month.
You're not on a pathway to zero, my friend.
He's not even pretending he's on a pathway to zero here.
It's incredible.
And then he takes credit for bringing down gas prices.
So let's just get this straight.
When gas prices go up, that's Vladimir Putin's fault.
When gas prices come down, that's Joe Biden's credit.
Amazing unfalsifiability here.
But, you know, the aviators say that he's on a roll here, guys.
He's really on a roll.
And guess what?
For all the criticism I got and the help you gave me, for gas prices bringing they're down more than a dollar and thirty cents a gallon leaning in since the start of the summer we're making progress i do enjoy when he leans into the microphone you know what you know what love that move from the president of the united states By the way, just going to note here that the U.S.
national debt is now up to $31 trillion.
$31 trillion, and that's not counting all of the unfunded liabilities that we have.
So yeah, he's doing great.
He's doing great.
And also when he says he brought down gas prices, again, I would just like to point out that gas prices right now Are on average in the United States, something like, I'm looking at the AAA number right now, about $3.70 when he took office, a little over $2.
So yeah, he's been doing an amazing job, guys.
Don't you feel it?
Don't you feel great?
And then, of course, we end with Joe Biden in his aviator glasses rambling incoherently as they bring him back to the break room and plop him down on that gurney and wheel him away.
Here is Joe Biden.
We just have to remember who we are.
We are the United States of America.
There's nothing, nothing, nothing we've ever set our mind to, nothing that we've not been able to accomplish.
Nothing beyond our capacity.
And so just remember who we are.
We stand together.
There's nothing beyond our capacity.
May God bless you all and may God protect our- The United States!
Nothing beyond!
We are!
Who we are!
When we are!
When are we?
Guys, it's going amazing.
It's just going amazing.
And by the way, I hope that you're looking forward to more price spikes considering that the White House is currently trying to figure out how to ship freight around the country because the railroad unions are taking advantage of this administration.
According to the Wall Street Journal, the White House is assessing how other transportation providers could fill potential gaps in the nation's freight network as labor unions and railroads continue contract talks to avert a potential labor stoppage this week.
Senior administration officials are communicating with ocean shipping, trucking, and air freight companies, among others, to determine how to keep goods moving.
Oh, ocean shipping.
Have we had any problems with that in the recent past?
You know, like with supply chains and the inability to get stuff off the docks at the ports.
Have we had any problems?
Maybe we should talk to the transportation secretary.
Or is he too busy on paternity leave still?
What does he do for a living exactly?
I mean, listen, I understand that he was mayor of South Bend, Indiana and also is gay, but at some point he should actually do his job.
It's unbelievable.
We're in the middle of an inflationary spiral and the labor union is like, oh, we got a sucker in the White House.
Let's do this thing.
White House Press Secretary Karine Jean-Pierre said, we've made crystal clear to the interested parties, the harm that American families, businesses and communities would experience if they were not to reach a resolution.
So basically, they're now going to the labor unions and like, guys, we need you to come to the table.
Otherwise, Republicans are going to win.
That's basically their final picture.
Labor Secretary Marty Walsh is planning to meet with Union and Rail Company representatives on Wednesday in Washington, D.C.
Several railroads have already halted transports of hazardous materials and said they would place embargoes on non-hazardous cargo as well.
Norfolk Southern Corporation said in a bulletin to customers it plans to close all gates to intermodal traffic on Wednesday at noon local time.
Such shipments, where railroads carry shipping containers and truck trailers, are often used by large retailers and consumer products companies.
The railroad said they're limiting shipments to avoid stranding hazardous or sensitive materials in case of a strike.
So again, just excellent, well done stuff here from the Biden administration, which has fomented the greatest hopes of all of the unions everywhere.
When the gaslighting is so strong that Stephanie Ruhle over at MSNBC is like, guys, you're gaslighting us?
You know how bad things are.
So here is MSNBC's Stephanie Ruhle having the capacity to recognize some level of reality.
As far as inflation, the thought that things are going to go down quickly, it ain't happening.
You said it.
Rent is high.
Healthcare costs are high.
Energy costs are high.
And we talk about inflation as it relates to going to the grocery store.
And for you and me, every time we go in there to get our milks, egg, butter, cereal, everything is still very expensive.
So for families, the everyday things we're buying still cost a lot, despite the fact that the Fed has made moves to raise rates.
So Joe Biden has a habit.
When things get bad, he just leaves down.
So yesterday, he did.
He ran away.
Yesterday, he was just like, you know what?
I'm not gonna be in Washington, D.C.
I gotta get out of here.
Get me, get me to Delaware, Joe.
Please, please get me, get me home.
Home.
We'll get to that in a moment.
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So Joe Biden, he had to get out of town because it turns out that he's really crappy at his job.
And when people notice him, it's bad for the Democrats.
So all the Democrats like, Joe, could you leave?
It's like, yeah, I'm going to go back and I've been stocking up on Matlocks.
The VHS.
I don't know.
What is this TiVo?
I still haven't... I don't know.
I need tapes.
I got a stack and I got some backup as well.
So, he went back to Delaware.
What was his excuse?
By the way, Captain Climate Change over here, who just spent a trillion dollars on fighting climate change, gassed up Air Force One and went to Delaware to get ready for this.
To vote.
Went back to Delaware to vote.
In a primary.
That has no major races in it.
You wouldn't do this.
You wouldn't even leave work for this, probably.
But Joe Biden had to leave the White House to fly.
Now, why didn't he just get an absentee ballot?
No one knows.
According to Bloomberg, the White House didn't publicly announce the trip until just before he left because what happened is they didn't plan it.
They didn't know they were going to Delaware.
Joe Biden was like, I want to leave.
And they're like, OK, gas up that jet and let's go.
Asked before boarding his plane why he was traveling to his home state on short notice, the president answered, to vote.
He did not answer when asked why he hadn't simply requested and returned an absentee ballot.
Delaware also offered in-person early voting on Saturday, when Biden was in Delaware.
So either the man has short-term memory loss, or he's just trying to get out of town.
Instead, Biden employed two motorcades, local police protection, and the Boeing 757 version of Air Force One to vote in an election with no high-profile races on the ballot.
I'm gonna go with he just wanted to leave town, okay?
I really don't think that he was like, I need to vote for the dog catcher in Wilmington.
It's very, very impamity.
Very impanamity.
Former President Obama, by the way, cast absentee ballots in 2010 and 2014.
And Donald Trump was like, I'm not voting in the 2018 primary.
Screw it, man.
I don't care.
Which, frankly, I think may be the proper response in single-party states like Delaware and New York.
So there is Captain Climate Change, who is blowing the carbon emissions out the back of that jet like nobody's business, doing more to fly back to Wilmington, Delaware, in order to vote in a useless primary in Delaware, spending more on carbon emissions than the entire continent of Africa does in a day, probably.
Meanwhile, in the Senate, you can see Democratic Senate candidates running headlong away from Joe Biden.
And as I've been saying for literally months, when the focus is on Joe Biden, Democrats are in serious, serious trouble.
So Mark Kelly, who is running a Senate race right now against Blake Masters, in most of the polls, he's up somewhere between five and seven points.
But if people realize that Mark Kelly actually just votes with Joe Biden all the time, it's not great for Mark Kelly.
So Mark Kelly was asked a pretty simple question.
Is Joe Biden doing a good job?
And he's like, if anybody comes to Arizona, I'm looking to show them, you know, what do we what do we need from the federal government?
How do we solve these problems?
And so if he came out here, held an event, you'd attend that event?
You'd like that?
I would certainly consider it.
Consider is not... Well, I would look at it.
Yeah, sure.
I mean, I could be in Washington, you know, voting on important legislation.
I mean, that's... That's a possibility, but if you were free, you'd gladly go and... It would depend on what the event was, where it was.
And what's the goal?
But if the president wanted to come out here and see Arizona, I'd welcome him to do that.
Not good, gang.
If Joe Biden happens to be in the Western United States, I'd be happy to wave at him.
These people want so far away from Joe Biden.
They want away from Joe Biden like Tara Reade wanted away from Joe Biden.
I mean, his own senators are like, can we keep Joe Biden far away?
Meanwhile, Chuck Schumer and Nancy Pelosi, he's a great leader.
He's such a great leader.
He's so great.
And meanwhile, the Democrats are like backing away.
How far can they move so they're not in a camera frame with Joe Biden?
Joe, can you go back to Delaware and vote in the local primary, Joe?
And meanwhile, in Pennsylvania, as I have been predicting, that Pennsylvania Senate race is becoming a lot closer.
The Pennsylvania Senate race right now is a five-point race in the head-to-head.
This is CBS News polling.
Fetterman leads Dr. Oz 52 to 47.
A lot of this is based on the idea that John Fetterman is authentic.
Now, Dr. Oz is not going to be considered authentic by the Pennsylvania population.
It's just not possible to overcome the kind of numbers he has there.
And right now what the polls show is that Pennsylvanians think that Dr. Oz says what he really believes.
Only 29% of Pennsylvanians believe that.
71% say that he's just saying what he thinks voters want to hear, Dr. Oz.
Now, first of all, this is always a dumb question because the answer is if you're a politician, almost always you're saying what voters want to hear.
That's literally your job.
But that poll also shows 57% of Pennsylvania voters think that John Fetterman says what he really believes.
The problem is he doesn't have, like, a lot of thoughts that Pennsylvanians agree with.
And also, as it turns out, he is a massive hypocrite.
So remember that time he was ripping on Dr. Oz for having multiple properties?
Oops!
According to the UK Daily Mail, a watchdog group is filing a complaint asking the Senate Ethics Committee to investigate why Pennsylvania Democrat John Fetterman did not disclose eight real estate assets on his most recent personal finance disclosure.
The total value of the properties he left off his disclosure form was $108,000.
All eight of the properties were in Braddock, Pennsylvania, Fetterman's hometown where he served as mayor.
His name is listed as owner on all of them on the Allegheny County website.
Most of the properties appear to be empty lots worth between $10,000 and $20,000 that surround Fetterman's home.
One was a building structure worth over $40,000.
But Fetterman did not list a single real estate asset on his most recent July 29th disclosure.
His team says he didn't have to.
They didn't produce income.
They weren't really investments.
Oh, they're not investments?
He just bought lots for no reason?
Interesting.
So, Democratic Senate prospects are not extraordinarily good at this point.
I think that there is at least a 50% shot that the Republicans surprise all of the pollsters and end up taking the Senate.
That would not be, I think, the greatest shock in the world at this point.
Alrighty, guys, the rest of the show is continuing now.
You're not going to want to miss it.
You're going to get to Tim Ryan, the Democratic Senate candidate in Ohio, saying that it's time to kill the extremist MAGA movement.
Plus, the Biden administration continues to say that the border is under control.
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