| Speaker | Time | Text |
|---|---|---|
|
unidentified
|
30 p.m. for more debate before taking votes. | |
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| C-SPAN, Democracy Unfiltered. | ||
| We're going to go now to Brad Sherman. | ||
| He's a Democrat from California representing California. | ||
| He's also on the Foreign Affairs Committee and he's on the Financial Services Capital Markets Subcommittee. | ||
| He's the ranking member there. | ||
| Congressman Sherman, welcome to the program. | ||
|
unidentified
|
Good to be with you and good to be talking to the early morning risers in the San Fernando Valley and the West Side. | |
| Let's start with the potential for the government to run out of funding if Congress doesn't act. | ||
| One thing that's in front of you in the House is an extension until November 21st. | ||
| I'm assuming you're against it. | ||
| Tell me why. | ||
|
unidentified
|
Well, they're calling it a clean CR, but they're asking us to deliver it to the dirtiest hands that have ever been in the White House. | |
| Once we provide that money all the way through November, who knows whether the president will spend the money on programs Democrats support or impound the money and not use it at all or divert it to things that he wants, like even more expanded ICE raids. | ||
| So to give him money all the way through the middle of November without knowing whether he's going to follow the law seems to be a fool's errand. | ||
| If this was a two-week CR, I think we'd be in a stronger position. | ||
| But we'd be much better if as part of this package, we prevented the Republicans from taking health care away from millions of Americans who will lose it this year if we don't get concessions. | ||
| And explain that you believe that Americans will lose their health care if these ACA subsidies were to expire. | ||
|
unidentified
|
People are having a tough time affording just food and rent. | |
| And if you increase the cost of Obamacare to millions of Americans, millions of Americans will not have health insurance. | ||
| And that, of course, is terrible, especially if they have a health need. | ||
| So we need to remedy that. | ||
| If we can't remedy that in the next two weeks and there was a two-week CR, that would make some sense. | ||
| But to kick the can down the road to November, get nothing to protect health care, and just trust Trump to follow the law that Congress has agreed on, I think that's asking a lot. | ||
| I want to ask you about the Charlie Kirk murder. | ||
| Attorney General Pam Bondi has clarified remarks that she had made on a podcast where she said that hate speech would be prosecuted under the law. | ||
| President Trump has said that left-leaning groups would be and are being investigated after Charlie Kirk's shooting, though he didn't offer very many details about that. | ||
| What are your thoughts on that? | ||
| And what do you think those left-leaning groups should do if they are opposed to the beliefs of Charlie Kirk and those like him? | ||
|
unidentified
|
You know, one of your earlier speakers talked about World War II and the courage of that generation. | |
| We have to have the courage to speak our minds no matter what Trump is trying to do. | ||
| And the idea that you're going to prosecute people for hate speech, watch an hour of your own show and see if one of your callers doesn't seem to hate one side or the other, at least in the view of the other side. | ||
| Because not only is Trump saying prosecute hate speech, he's saying prosecute hate speech as he defines it. | ||
| So anybody that doesn't think that his marriage with Melania is the model of loving marriages that we should all follow gets prosecuted. | ||
| And what do you think should be done about that? | ||
|
unidentified
|
We should have a First Amendment. | |
| We should have a court that will enforce it. | ||
| We should elect the president who respects it. | ||
| Turning to the Federal Reserve meeting that is happening today, a rate cut is expected. | ||
| What do you make of where interest rates are and where you would hope that they would go? | ||
|
unidentified
|
I think a quarter point rate cut makes a lot of sense, but Trump has put us in a terrible position. | |
| On the one hand, we need a rate cut because there's a slowdown in jobs. | ||
| And at the same time, we have the higher prices caused by his tariffs. | ||
| And so he wants to be blaming the Federal Reserve when you have the massive deficit spending caused by the big, beautiful bill, if that's what they want to call it, and you have the tariffs, you've got a situation where there is no perfect interest rate. | ||
| And we're going to suffer from both inflation and from fewer jobs and fewer raises than we'd want to see. | ||
| We need fiscal responsibility from Congress and the president. | ||
| And regarding the attempt by President Trump to fire Fed Governor Lisa Cook, that has been in the court system. | ||
| It continues to go through the court system. | ||
| What's your message on that? | ||
|
unidentified
|
It's an outrageous attempt to interfere. | |
| This is not part of an attempt to look at everybody's mortgage application. | ||
| It's an attempt to intimidate the Fed. | ||
| And what's interesting is that in financial services tomorrow, Republicans will put forward the idea that the Fed should look only at prices and not at unemployment and jobs in setting rates, which means if we followed that, that we would have higher interest rates because higher interest rates reduce inflation, but lower interest rates produce jobs and economic growth. | ||
| And so who knows? | ||
| Maybe the president would regard that the Republican position tomorrow at financial services as hate speech, as they seem to hate his approach toward just lowering interest rates as low as they can go. | ||
| And what do you see as the impact to, you know, markets overseas? | ||
| There are some economists who have been saying that this kind of disruption in the American economy and uncertainty around the Fed and the independence of the Fed is impacting their markets. | ||
| What do you make of that? | ||
| Do you think that that would in turn affect us? | ||
|
unidentified
|
It affects us already. | |
| Our interest rates are higher. | ||
| Our investment in our economy is lower than it would be if we could present a face to the world that this is where you want to invest. | ||
| And we have that investment not because we have low interest, not because we have low labor costs. | ||
| We have that because we are the most powerful, safest, strongest rule of law country in the history of the world. | ||
| And every day, Trump chips away at that, whether it's the rule of law, whether it's stability and predictability, and whether it is an essential element of any modern economy, which is an independent central bank. | ||
| So, look, the American people are incredibly hardworking, incredibly creative. | ||
| It takes a really bad government to mess up an economy made up of such spectacular people. | ||
| And so, I think that our economy may grow a little bit, but boy, it could do a lot better under a different president. | ||
| Turning to overseas now, the Secretary of State, Marco Rubio, was in Israel and New York Times reporting that he said that a diplomatic solution to Gaza war may not be possible. | ||
| That seems to contradict President Trump's belief that a diplomatic solution is possible. |