Best of The Dan Bongino Radio Show - Compilation Special 07/05/2022
Dan discusses crime in NYC before Giuliani, goes on a Biden rant, and addresses the baby formula crisis, Then talks about inflation, it's also the Republicans' fault, and there's no money in social security. Finally he talks about Biden's union speech, his unusual habit of yelling and the "fair share" myth.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
Get ready to hear the truth about America on a show that's not immune to the facts with your host, Dan Bongino.
Thanks for tuning into this podcast on this Tuesday after Independence Day.
This is a special podcast we put together for you to enjoy.
It's three of our best rants for my radio show.
You may have missed.
Have a good time on the radio show.
Get a little into the rant sometimes.
So if you're a podcast only listener, you'll see we cover some of these stories a bit different on the radio show.
Also, a reminder, we'll be back to our normal daily podcast shows this Thursday, July 7th.
To find out where you can hear the Dan Bongino radio show near you, go to bongino.com and click on Station Finder.
You know that thing in your phone that measures the screen time?
You ever get that?
You get like a weekly, here's your weekly report on screen time on your phone.
It's meant to like slap you in the face and say, get off your phone, you dipwad.
Well, you know, I work on it because that's what I do, show prep 24 hours a day.
You know, when I first started doing this, I kept the show prep to a minimum because I wanted the show to feel a little bit more authentic, like a conversation.
Then I realized there's no authenticity in not preparing a show.
You better have content.
Now it's my entire life.
So sometimes I leave the screen on.
If you're watching the show live on Fox Nation, you know, we have a video simulcast.
I leave it up.
And I just started doing that recently in case news breaks so I can see it.
I don't even, I don't like looking at the computer screens.
The phone's right there.
So I guess the phone thinks I'm watching something all the time.
So I got a report this week.
You know, your weekly screen time is up 72,000 percent or whatever.
It was like you will die immediately from eye burnout.
Get off the phone.
I'm obviously being a bit dramatic, but it was up a lot.
That's why, because I keep it up.
I watch the news, though, because it's just this administration.
It's.
It's hard to stay on top of it all.
You know, I mean it.
I think things will get better.
I mean that.
It's not some overly optimistic, you know, Pollyannish nonsense.
I just believe sometimes America needs to get, you know, kicked in the chops before we realize like this is a mistake and turn it around.
Folks, I say that by the way, again, not in any way to signal some kind of, you know, moral higher virtue here to you, but I've seen it.
I've been through it.
Sometimes it has to get really bad before people realize they voted for really bad stuff.
I know that sounds crazy to some, but Jim and Mike and I, we're all, the one thing we have in common is we are all former New Yorkers.
We grew up in a city that is far different, even the disaster it is now.
And believe it or not, folks, I'm not apologizing for de Blasio and Bloomberg towards the end at all.
I'm just telling you, even as bad as New York City is now, it is nothing like the New York City we grew up in.
Nothing.
I mean it was guaranteed if you were down in certain areas, guaranteed you'd get mugged.
Now it's like a 50-50 shot.
Back then it was 100%.
100% the mugging.
People like would carry their money in their socks, remember that Jim?
Because like, I'll just keep a, I'll keep a fiver in my wallet and keep the 20 spot in my sock, that way when they rob me I can only give them the five.
I told you, I used to get, we used to have these drinks.
A tropical fantasy.
It was like 50 cents.
No, it's not like some porn movie, you freaks.
It was a drink.
It was a drink.
Tropical fantasy.
It was like this, you know, sugar water with like whatever, a food coloring in it.
And it was cheap.
It's all we could afford.
It was only a matter of time before someone just came out and stole it.
You know, today it would be called, like, a robbery.
Like, back then it was just called, like, someone stealing your drink.
You didn't even tell your mom.
Right, mom, so it wasn't even, like, right, Jim?
It was like a fake robbery.
It was like, if they didn't kick your ass or you didn't get, like, shanked or something, it was okay.
It was like, don't worry, they just stole stuff, you know?
Your car was guaranteed to get stolen.
It was just a matter of time, like, you hope you got it back.
Car insurance was, like, your car was worth $5,000.
The car insurance was $7,000.
You're like, yeah, but I could buy a new car and have 2000 left over the insurance company.
He's like, yeah, that's the point.
It was that bad.
And eventually what happened?
People got tired of it.
People got tired of it.
And they voted in Rudy Giuliani in a, in an environment where it was what, six, eight to one Democrat to Republican.
And he won again in a landslide because I'm not going to say Republican ideas.
I'm just going to say conservative ideas.
The preservation of freedom and liberty, real freedom and liberty, not like a talking point.
Economic liberty, meaning low taxes, meaning you can spend your money and you are free and you preserve the economic liberty to do it rather than giving it to the government.
That kind of stuff works.
You know, school choice, the liberty and freedom to send your kids where you want, the liberty and freedom to pick your own health care plan.
These things matter.
They'll always win out in the end.
Sorry, I didn't mean to get off track, but I don't want you to get bogged down in the everyday bad news and take a pessimistic view and say, oh, this place isn't worth saving.
They cheat in elections.
They cheat us out of our money.
They cheat our kids out of a good school.
Yeah, of course, folks.
There's always going to be bad people.
We're on a fallible planet full of sinners and people who are mercenary cats all the time who will do anything to, you know, obtain and weaponize power.
It's our job to fight against them and do the best we can to hand off a better world to the kids.
The problem is we're dealing now with a group of inept buffoons like I have never seen before in the White House, and I mean that.
I believe, yes, that they are doing this on purpose.
But their ineptitude, they're usually better at disguising that.
One thing you've got to give to Obama over his eight years in what, prior to Biden, was an unprecedented reign of destruction in the United States, right?
The Obama eight years.
We've never seen anything like it.
Never as a figure, you know, single-handedly changed American politics for the worse like he did.
He was a little more cryptic in his messaging and was able to hide better what he was doing.
I mean, you had to be in states like North Carolina and Florida, you know, go for Obama.
Biden has none of those skills, folks.
This is an inept... Yes, they're doing it on purpose, but they're inept at covering it up.
Here's what I mean.
Jim, cue up for me.
Cut three.
I played for you before, one of their cabinet secretaries, Pete Buttigieg.
Again, a clown.
Nobody on planet Earth says less by saying more than him.
Arguing that, yes, the Biden plan to attack high gas prices is somehow working, despite gas prices every day setting a new record.
It is working.
They're trying to do it.
Buttigieg just isn't good at covering.
Here's Gina Raimondo.
She is the actual Commerce Secretary.
So, Libs, for those Libs listening, I know you have a little bit of trouble with facts and data and stuff like that.
She's the Commerce Secretary, meaning she's a cabinet-level secretary in the Executive Office of the President, right?
Answering to the president that is responsible for, wait for it, commerce!
You know commerce?
Buying and selling across state lines, across nation lines, across continental lines, global commerce, state commerce, interstate commerce, intrastate commerce.
That's her gig!
So you would think, again, Jim, call me crazy as the audience ombudsman.
You have to represent them if I get out of control.
I get out of line, you got to crack it, man.
You got to crack it.
You got to just take out that stick and just crack me on the back.
Hey, buddy, get this back in line.
Tighten it up.
Tighten it up.
I'm just kind of thinking if you're the Commerce Secretary, the buying and selling a baby formula would kind of be something in your wheelhouse.
Jim, is that a bridge too far?
That would be, Mike, Mike, is that, we okay there?
We are, okay, Mike and Jim both agree that this isn't crazy.
So Gina Raimondo is asked by Jake Tapper on CNN, like, hey, this baby formula thing?
You know, babies could get dead quick.
You know, and what's the golden rule that Dan Bongino show?
Don't get dead, and don't get other people dead.
If you follow policies that don't get people dead, you're probably doing the right thing.
Don't get dead yourself either, because we don't want you to get dead.
I don't like dead.
Don't get dead.
You can't come back from dead, only if you're a Democrat voter.
So Gina Raimondo has asked about this baby food thing.
She's like, yeah, yeah, I learned about it in April.
But yeah, I don't got anything to do with the response to it.
Maybe you should think about that.
Maybe you should think about trying to do something to respond to it.
Given that you're only the Commerce Secretary, it's kind of like your wheelhouse, right?
Mike and Jim just testified to that fact on the road.
Here's Gina Raimondo can't answer a simple question from Jake Tapper.
Check this out.
President Biden this week said he didn't learn about the severity of the infant formula shortage until April, but problems first emerged back at the Abbott plant back in October of 2021.
An industry executive said they knew how bad this could get when the plant closed in February.
You're the Secretary of Commerce.
When did you first learn of this problem?
I first learned about it, you know, a couple of months ago.
So this is a difficult issue.
Uh, yes, probably April.
I'm not involved in the administration's response here, I should say, but I think they're doing a very good job.
You know what's funny during the podcast this morning, Jim?
I don't know if you heard it.
I didn't catch that last part.
The last part where she just says like, "I'm not involved in the administration's response,
but I think they're doing a good job."
I know some people hate it when I have it laughed at a lot.
That's not, this is not part of an act.
I think they're doing a good job.
You're the commerce secretary.
Maybe you should get in on those convos.
You know, there's nothing, there's no commerce happening.
Because baby formula doesn't exist on the shelves.
Like, maybe that's the kind of thing you may want to get involved in.
I mean, you're the Commerce Secretary Gina Raimondo, right?
You learn in April that babies could get dead, and that's the golden rule of the show.
Don't get dead!
So you hear there could be babies getting dead because there's no formula.
You're the Commerce Secretary, and you're like, what, you sit around like, hey, does anybody want to get a beer of McSnorley's tonight?
Like, you didn't think to ask any questions?
And then you talk about it like...
She talks about it like she's like the Sobrette hot dog saleswoman on the corner of like 6th and 46th.
Like, yeah, yeah, heard about that.
Yeah, I think they're doing a good job, but I'm not really a part of it.
Gina, maybe you should get to be a part of it.
I'm just throwing that out there, man.
I mean, you're only the Commerce Secretary.
Maybe that's the kind of thing.
Here, let me just throw out a few minor suggestions.
Jim, tell me if these are crazy, right?
Maybe in April when you find out that babies could get dead because there's not a lot of formula and we don't want anybody getting dead.
Maybe that's the kind of thing like you reach out to Abbott and the dairy industry and you go, Hey guys, ladies.
So a baby formula, we have a, a source.
It's about 40% of supply.
We're going to shut that down.
Is there a way to backfill this?
If not, maybe we should figure out a way to get that plant open Jim.
Is that sound like a crazy Jim?
Jim says, Mike, reasonable?
Yeah, Mike says, oh yeah.
Jim says, seems reasonable.
Mike doubles down and says, oh yeah.
Yeah, I think we all three agree.
Maybe that's the kind of thing you want to head off.
Now tell me again how they're not doing this on purpose.
So Gina Raimondo acknowledges she knew in April.
She's the Commerce Secretary.
Acknowledges she knew about the baby formula crisis.
Says she knew months ago.
And then talks about it as if she's selling bagels.
Again, at 46th and 6th up in New York City.
Yeah, I'm not really part of it, but it sounds like they're doing a good job.
Yeah, yeah, Gina, sounds like they're doing great.
You got people walking into the baby formula.
So you got people walking into CVS whose kids are using watered-down baby formula, who could die.
And Gina Raimondo's like, yeah, yeah, sounds like they're doing great.
Yeah, it does, Gina.
Gina, maybe head on back to Rhode Island.
This really isn't for you.
You know what?
Maybe it is for you.
You're in an incompetent administration.
You fit probably right, and they probably love stuff like this.
This is the Commerce Secretary, one of the most powerful people in the United States.
So Buttigieg says their plan on gas prices is working, which it is, reaching higher prices every day.
Raimondo says, yeah, the baby formula thing.
I got bagels to sell.
You wanted everything?
A little butter and jelly?
That'll be a buck fifty.
Although it's Joe Biden inflation, seven dollars.
I'm sorry.
Yeah, that's Gina.
Gina Raimondo, your Commerce Secretary.
Maybe ask about the supply chain?
Maybe ask about these overly restrictive import requirements and tariffs on baby formula?
Maybe ask about the dairy industry tariffs that they put on those formula things?
Just an idea, folks.
And keep in mind, I'm just a dopey radio host.
What do I know?
There's just two or three things right there.
I'm not even the Commerce Secretary that we probably could have entertained back in April to head off a massive baby formula crisis.
But what am I, what do I know?
Dan Pfeiffer and Joe Scarborough say I'm just a Facebook far-right winger and I don't know anything.
I mean, what does this idiot know, right?
Maybe because of ideas we just put out there now is one of the reasons that my Facebook page and my other formats are such an enormous audience.
Maybe because we're not crazy and talk about things that are just common sense.
If you're looking for a firearm, I wholeheartedly recommend Henry Repeating Arms.
They make 200 models of rifles, shotguns, and revolvers in a wide variety of calibers and finishes.
Plus, they have new releases throughout the year.
And trust me, folks, you just can't beat their quality.
The best way to learn about Henry Firearms is to order their free catalog to check out their line at home.
Plus, you'll get two free decals, a list of dealers in your area, and a great newsletter.
Just go to HenryUSA.com and click on the free catalog button in the top right corner.
Henry Repeating Arms uses old-world craftsmanship combined with cutting-edge technology to deliver reliability and accuracy you can trust.
They're easy to use and maintain, making them an excellent choice for personal and property defense, hunting and the shooting sports, and beginners.
And they're made in America, or they won't be made at all.
Remember to order their free catalog and decals at HenryUSA.com.
Just go to HenryUSA.com and click on the free catalog button in the top right corner.
That's HenryUSA.com and click on the free catalog button in the top right corner.
You're going to love this company.
If you're in the market for a rifle, shotgun, or revolver, you want to go with the best in the business, and as far as I'm concerned, that's Henry Repeating Arms.
You'll be amazed by their quality craftsmanship and buttery smooth action that makes them a pleasure to shoot.
Mine were accurate right out of the box and they've been reliable ever since.
The best way to learn about Henry Repeating Arms 200 models is to go to HenryUSA.com and order their free catalog.
The catalog is a great guide to showcasing their Made in America firearms, plus you'll get free decals, a list of dealers in your area, and a great newsletter.
Henry's are backed with a lifetime warranty for 100% satisfaction.
They're made in America or they won't be made at all.
And if you have questions, you can call the reward winning customer service department to speak with an expert who can help you.
Make sure you go to henryusa.com to order their free catalog and decals.
The best way to learn about Henry Repeating Arms 200 models is to go to henryusa.com and order their free catalog.
That's henryusa.com to order a free catalog and decals and to learn more about this great American company.
You know, watching these pathetic, groveling, grotesque leftists as they destroy our economy to a degree we haven't seen in decades, sit here when another unbelievably destructive inflation number comes out, watching these pathetic snowflake crybaby losers sit here and try to just Explain it away.
Watching these people on TV.
I need one of those plain doggy bags.
I want to like upchuck the contents of my stomach into it.
It's so pathetic.
You know what's even more pathetic is I saw Steve Moore on behind, who I like.
He's a good guy.
Steve Moore was a conservative-leaning economist.
He was debating Austin Goolsbee, who was definitely not a conservative.
And Steve Moore did what any good economist would do.
He told the truth.
He was on Fox talking about this headline number, 8.6% inflation.
And he was like, listen, Republicans have had a lot to do with this, too.
This is government spending run amok.
Government spending money we don't have.
Who responds then?
The Federal Reserve has to print a bunch of money.
What do you think?
If the government spends money it doesn't have, folks, where does it get the money from?
I don't know.
The Tooth Fairy?
That's the lefties.
Well, they're paying people.
The government's paying the military, the FBI, judges.
So if they don't have the money, how are they paying them?
The answer is the Federal Reserve prints it or digitally creates the money and gives it to the government.
Out of thin air.
There you go.
Goes under all kinds of names.
Quantitative easing, all of this nonsense.
So if we're printing a bunch of money we don't have, of course that's going to be more money because it's more printed and digitally created money chasing fewer objects.
So whereas people like myself Levin, Steve Moore, and others are honest that swampy Republicans have most definitely contributed to this problem by signing on to budgets year over year where we don't have enough money to support the level of spending.
It's just really pathetic and gross and disgusting how hack-goon Democrats, even when they're in charge, can't admit the same.
No, it's a little bit spending.
No, no, no, it's not.
No, it definitely had nothing to do with it.
Government printing money we don't have to chase products we haven't made yet.
It has definitely nothing to do with inflation.
Realize how much of a moron you sound like when you say that?
Again, I can stare you in the face and say, yes, Republican presidents and Republican congresses have definitely played a role in this massive spending plans that have materialized over the last two decades.
You are 100% correct.
Do you ever wonder why you can't say the same?
No, it wasn't us.
No, we definitely, we have nothing.
Joe Biden's the president.
You run the Senate and the House right now, and you still pretty much dominate the court system.
Even a lot of the Republican appointed judges are really Democrats.
And yet, no, you have nothing to do with it?
As Biden's pushing a Build Back Worse plan to print more money we don't have?
You have nothing to do with it.
You realize how pathetic you sound?
That's why, again, I'm always proud to be a conservative, is that we stand for principles.
You understand the left stands for nothing but destruction?
Nothing.
An 8.6 inflation number, percent number, pops this morning, and they act like they have nothing to do with it.
You hear Kareem Jump, you hear, oh man, the trends are turning around.
I heard Goolsby this morning, yeah, you know what?
The week over week or whatever, it's looking bad.
Dude, really?
You've got grandma and grandpa out there looking at the cat food section right now going, ah, you know what?
I ain't looking too bad.
We can save a few bucks.
And you don't think that's a problem?
You got people eating no frills potato chips and six year old chocolate bars they found in their house for dinner.
You don't think that's an issue?
One of my podcast producers, Justin here, comes in this morning, fills up his Honda Civic.
Three quarters of a tank with the cheapest gas possible.
Forty-five bucks.
Forty-five bucks!
Forty-five beads.
The kid couldn't even focus on the show.
The whole show, he's screwing everything up.
He's putting up the... I'm kidding.
He's in the background laughing.
Well, he did screw up one graphic.
He's too busy focused on the... Watch the podcast today if you think I'm kidding.
I'm like, you're gonna put that other graphic up?
He's like, I can't.
I'm too busy thinking about that story you just told about me paying $45 for gas.
This is what's going on right now.
You know what I'd respect you if you'd show some balls, right?
Grow some.
You can grow a pair.
Hang them right between those two stems, right?
Grow a pair, right?
Get out in front of the American people and do what I just did.
Yes, I am a Republican and a conservative one.
We have played a role in this mess too.
Not me personally.
I'm not a member of Congress.
I ran.
I didn't win.
I lost.
I didn't sign on to anything.
I ran against this stuff.
But my party has no doubt played a role in this by signing on to this.
Why not come out?
Just admit what everybody knows.
You're spending money we don't have.
Too much money.
That the path to fix it is not in any way complicated.
Let's spend less money.
Apologize for the mistake and move on.
I'd never vote for you.
I'm not going to lie to you.
I don't vote for Democrats, no matter what.
I just don't.
I'm not going to spin your wheels, try and vert you, saying, well, it depends if they're... No, I just don't vote for Democrats because I know what their party stands for.
But some people may.
They'd say, wow, that appears like a sister soldier moment Bill Clinton had.
Biden finally admitting what the problem is.
We're going to change course.
We're going to scrap Bill back better.
We're going to try to get rid of a lot of discretionary spending.
You know, although he doesn't control the Fed, technically, Biden, you know, the Fed could move and raise rates.
We could start cleaning up some of this money supply.
There'd be a way to fix this.
He doesn't want to fix it.
He doesn't care.
He's spitting in your face.
He doesn't care.
Biden knows full well he'll be dead long before the country fully collapses.
He doesn't care.
We probably got about, seriously, on this trajectory we're on now, I kid you not, Probably got 15-20 years before we're a second world power.
If that long.
If that long.
They don't care!
The swampy Republicans don't care either.
You hear anybody on the Republican side talking about serious spending cuts?
The only guy who's mentioned anything about it is Rick Scott.
Senator from Florida.
Republican.
Who had a pretty decent, smart plan.
He got lambasted for telling you all the truth.
Hey, all these programs we promised you, there's no money to pay for that.
And we can promise you all the social security raises in the world if we don't have the money to pay for it.
It doesn't matter the promises we made if we don't have the money.
Medicare, Medicaid, our military, all of it.
I'm not picking on social security.
You did nothing wrong.
You were promised a program you paid into.
Point stipulated, 100%.
But I'm Dan Bongino.
I'm not a member of Congress.
I ran.
I lost.
I never got the seat.
I never signed nothing.
They spent your money.
You can send me all the emails you want.
I'm entitled to that program.
They spent it!
They spent it!
It's not my fault!
I strongly objected to them wasting the money you gave them for your retirement.
But I'm just telling you the truth.
I get these emails all the time when I address it.
Dan, you want to pull money out of the pockets of Medicaid patients?
I'm recommending no such thing!
The government already did it!
The government already did it!
I'm not doing it, they did it!
There's no money!
Well, we could just continue to print it.
Yes, you can!
And inflation is going to go up and up and up.
And the more they print to support money they don't have and spending programs they don't have, the money they give out is going to be worth less and less and less.
So you could continue to play this fiction.
Oh, yeah, I'm entitled.
It's mine.
I want my money.
Oh, you'll get it.
It just won't buy anything.
I could write you a check for $100,000 out of an account that doesn't exist.
Yeah, I'll do it today.
Here you go.
Dan Bongino, paid to the order of Joey Bag of Donuts.
Signed, $100,000.
Here, just don't cash it.
Here, you got your money.
I gave it to you.
There's nothing in the bank.
No, but I want it.
Okay, go take it.
There's nothing there.
You understand, right, that there's going to be a reckoning.
Value has to be created out of somewhere.
You can't run an economy on monopoly money.
Everybody gets this, right?
You can't.
Again, every time I talk about this stuff, I get a thousand emails.
People say, I paid into these programs.
I deserve it.
You do.
You do.
You did pay into it.
You worked hard.
Let me tell you something.
Our generation has had it easy compared to your generation, the original social security generation.
You all fought in World War II.
You grew up in a time without cell phones and all these amenities.
Some of you made it through the Great Depression where, I mean, there were food lines.
You grew up a thousand times harder than me and my kids ever will.
You do deserve it.
Period.
But what you deserve, I'm sorry to tell you, doesn't matter in the financial realm.
It matters in the moral one.
They spent it.
They screwed you.
These people in charge screwed you over.
They wrote you a check that is going to bounce.
I'm just looking at this report.
I always keep Fox on the background.
I had a chyron about the inflation crisis.
Even CNN, they showed a clip of CNN interviewing this what appeared to be a senior citizen.
A black female.
I don't know how old she was, but you could see the way they were portraying the story on the chyron.
And the woman had a bunch of canned food on the counter.
How's she struggling to eat?
Yeah, they'll pay you.
Your social security just doesn't buy you anything.
You do deserve it.
And I'll tell you what else you deserve.
You deserve a government better than the buffoons we have in there now, and that includes the swampy Republicans too.
Folks, this government was always designed to be consent to the governed, and I'm sure you didn't consent to this.
I'm sure you didn't consent to being thrown a curveball later in your life.
You were made promises by people, Social Security, Medicare, and otherwise.
You were made these promises earlier in life.
You were asked to give this amount of money, in turn, for this amount of benefits.
Hell, Social Security even sends you, you get that statement, Jim, every, what is it, every couple of years?
You get that Social Security thing in the mail.
Oh, look at your, they send, oh, look at this, this is so great.
There's no money, folks.
You understand there's no money?
They are working off IOUs.
Do you get that?
There is no money?
You can send every email to me you want.
I agree with you.
I've stipulated your point that you deserve it.
You worked far harder than I ever will and I have the utmost respect for the greatest generation.
I'm just telling you the faith you placed in government was misplaced.
There is no money and anybody telling you otherwise is lying.
The money they're giving you now is going to buy less and less and less and less.
The scary thing about this is we could change this today.
And that could stop that deadly cycle of financial destruction that is going to kill off people living on fixed incomes quicker than anyone else as they struggle to support their own lives.
We could fix this right now.
But swampy Republicans and all of the Democrats, even Manchin's all in for tax hikes and stuff.
Manchin's no conservative.
Some swampy Republicans and pretty much every Democrat out there wants nothing to do with fixing the problem.
They don't care what happens to you.
I'm telling you there's no money.
We are living in a fantasy land.
We're in a collective delusion that this thing we call the Federal Reserve Note is still worth what it's worth.
And once the tulip crisis hits here and people figure out just how much money's in circulation, not the exact dollar amount, but they figure it out through price signals, this inflation crisis is going to spiral out of control.
Charles Payne was on Fox talking about it this morning.
Something I've warned you about.
If you're a listener to this show, you've heard me say it before.
The inflation spiral.
What happens with inflation?
Inflation is a whole lot of money we don't have printed up to go and chase goods we haven't produced.
More money, less goods.
But what happens as inflation gets bad?
People's expectations of inflation get bad.
And then they say, you know what?
These car prices are going up, whatever, 2%, 3%, 4% a month.
I'm running out of money.
I don't really need a car now, but you know, hun, we better go out and buy a car now and get ahead of the inflation.
We'll save some money if we do it now.
So the car you have gets tossed.
You buy the new car, taking that off the lot, which creates an even bigger supply crisis for even more money to chase even fewer goods as more people buy things in advance of when they would have, which drains the supply and creates more money, creating a fewer supply crisis, which makes inflation even worse.
When you hear them talk about inflation expectations, folks, in sum, that's what they mean.
Then what happens?
Workers go into their bosses and they expect inflation to get worse the next month.
Boss, I need a raise.
Or I'm quitting, going to another job.
Then what happens to the boss?
The boss has to give even more money.
Which leads to even more inflation.
Because the boss then has to charge more to compensate himself for the loss of money paying the wages that the employees need because they're expecting more inflation next month.
Folks, none of this is hard.
None of what I'm telling you is advanced Econ 762.
This is Charlie Brown Encyclopedia 101.
But nobody wants to tell you the truth.
Everybody wants to lie to you.
Social Security, Medicare, they'll be fine.
Don't worry, modern monetary theorists, we can print our way out of this.
Don't worry, Joe Biden will figure it out.
Joe Biden can't even figure out how to say the word investment climate in a teleprompter.
Put it in a search engine if you think I'm kidding.
And you think Joe Biden's gonna... Joe Biden is one of the, probably the 1% of the dumbest human beings who lives in the United States.
You think he's gonna figure this out?
Good luck.
There's a way to fix it.
They just don't want this.
Folks, why is this guy always yelling?
I mean, I get it, he sucks.
Like in a suckfest, this guy is like the... Remember, you know, imagine you had like, you know, you had the Lilith Fair and Woodstock.
Imagine you had suckfest, like the suckiest bands ever.
The Biden band would be the keynote act in a suckfest.
There is no doubt about that.
Like, SuckFest 2022, headlined by Joe Biden and the Raiders.
Joe Biden and the Smokey Blues, or whatever.
They would, at a SuckFest, they are the kings and queens of suck.
This administration, the level of suck, is like nothing we've ever seen before in American history.
As Joe Biden would say, I'm not joking, but in this case, I'm really not joking.
Like, they really are, they are, this guy's the king of suck.
He's only been in office a couple of years now, right?
Couple of years.
And the damage this guy has caused has been incalculable.
I can't say enough.
The only time in my life I think I'll ever agree with Barack Obama was when he said, don't underestimate Joe's ability to F things up.
He was right.
Barack, you nailed it, buddy.
I wish you would have told us that before the primaries so Democrats could have picked a better candidate, maybe one that wouldn't drive the country in the ditch as fast as this guy.
Here's what I mean.
He's in Pennsylvania today giving a speech on the economy.
And, you know, folks, again, instead of just saying, I'm not here to give advice to Democrats that are destroying the country, but...
For what it's worth, right?
They don't listen anyway, so it doesn't matter.
At what point do you come out and say, listen, things aren't going well.
I acknowledge things aren't going well.
I feel bad about it, you know, but here's what we're going to do to try to fix things.
And you put forward some practical solutions, even some small measures, right?
At what point do you do that?
I mean, how often can you tell Americans, right?
People who live in this country, right?
Who are experiencing what we're experiencing in America every day.
Who are paying $10 for a pound of bacon.
God only knows what milk costs these days.
I mean, turkey, chicken, meats, proteins are all through the roof.
Gas, national average $5 a gallon.
How often can you tell them things are really going great and you're all idiots?
I'm serious.
I mean, how many times can you say that before you look like an out-of-touch elite snob?
Now, I understand.
I ran for office myself.
You always get political consultant people talking in your ear.
I understand.
I mean, I'm trying to be semi-objective on this point.
You don't want to come out and do the Jimmy Carter thing either.
I highlighted it on my Fox show this week.
Remember the Carter-Millais speech?
Rollin' the Millais and you idiots are rollin'.
You didn't say exactly that, but you get the point.
But there's this delicate act where you have to, at some point, acknowledge things are bad, right, Jim?
Or else you look like you just don't know what's going on.
No, no, no, things are good.
I just saw an article or a tweet from the Zero Hedge guys saying the layoffs that are planned now in the coming months, that by August we could be back into negative job growth, which means no growth at all, which means the workforce is shrinking.
And it was a list of all these companies.
The layoffs were pretty massive.
You know, at what point do you have to flip the switch and acknowledge that it's bad so you yourself don't look out of touch?
I mean, this guy with the speeches, and it's not just the speeches about where he's constantly saying how great things are, implying we're all idiots and don't recognize what's going on.
It's not just that.
It's that he yells and screams as if you don't believe him that you're the crazy person.
All right, literally, it turned the volume down for a second.
He's like, let me tell you something!
Pay your damn fair share!
You crazy rich people!
Your fair share!
And let me tell you something, you oil companies ripping people off!
Let me tell you!
And let me tell you about the deficits!
The deficits!
I'm a deficit gutter!
God, the deaf is headed!
And everybody's like, bro, do you have to hear?
I sleep, you know, sometimes with like earplugs, because when it rains a lot down in my area, I live off the water here, the frogs come in.
Did you ever have that problem?
And the frogs all night, doing the ribbit thing all night, drives me crazy.
You gotta go to a speech with earplugs with this guy.
And the devil's out!
And the devil's out!
Will you stop yelling?
Listen, this is coming from an Italian from New York and two guys named Sacco and Verdi.
I mean, we could be running a pizza joint here in this show.
We're screamers from New York and even we're like, bro, please, please stop the yelling.
Jim has to edit these clips for sound just to avoid blowing your speakers out in your car every time Biden talks.
Here he is, cut one.
Screaming again about how he's an amazing deficit gutter.
Yes, Biden!
I'm not going to use the word because I hate it.
I'm trying to cut down my use of the word literally because we and Jim were just talking about this because I hate it so much and it's just tempting.
It's at the point now where my Fox producer, she texts me every time I use the word because she's like, ah, you said it!
But Biden, who is aiming to be the biggest spender as a president in United States history by pushing what was at one point a six to seven trillion dollar Build Back Better plan.
He's now flipped the script and is claiming he is like the Calvin Coolidge of economics.
He's a big deficit cutter as he screams about the deficit.
Here, get your earplugs ready.
Here's Joe Biden screaming that he's a big fiscal conservative now and people fall for this.
Here, check this out.
You know how they talk about Biden wants to spend more on schools and all this?
Guess what?
He's going to create a deficit.
Ladies and gentlemen, this year, by the end of the fiscal year, we will have cut the federal deficit by another $1.6 trillion in one year.
One year.
So, when they come to you and talk about big spenders, let them know.
Almost $2 trillion in deficit reduction.
I don't want to hear any more of these lies about reckless spending.
We're changing people's lives.
Oh, Daddy-O, you're changing people's lives.
That's fact checker Bill McCarthy.
Bill, get on that.
Fact check, mostly true.
Here's the context.
You're changing people's lives, just for the worse.
There's a bill.
Tom Carcher, get on that, buddy.
Fact checkers, get all over that.
You're changing people's lives, all right.
Record inflation, soon to be what's going to turn into unemployment quickly.
I'm sorry to let you know that.
A monetary, a fiscal crisis, an immigration crisis at the border, a labor force participation crisis, a supply crisis.
Oh yeah, you're changing people's lives.
Let them know!
I don't want to hear it.
I don't want to hear anymore.
Like he's a dictator from the third world.
Off to the gulags!
Tony Montana.
That's right.
Tony Montana.
Say hello to my little friend.
I don't want to hear anymore.
This guy is unreal, man.
I'm sorry.
This is not a comedy show.
I just, I can't get enough of this guy.
He really is.
He's so hapless and pathetic.
He doesn't even sound... There's no ability to suspend disbelief.
Like, even Republicans, when you're watching Obama, you suspended disbelief, right?
You knew he was a phony, but you at least believed he was trying to be genuine about it, even though everything he was saying was nonsense, right?
You know, I remember watching a speech at the DNC.
When he spoke up for Kerry and thinking this guy's going to be trouble in the future.
He's really good at this.
The thing with Biden is he's so bad at it.
It's like watching that movie.
What was it?
The Room or something like that?
The way the acting is.
So is it The Room?
They're acting so bad.
You can't even watch the movie with suspension of disbelief because it's so obvious they're acting.
It's like the worst movie ever.
Like the Raspberry Awards.
I think it's called The Room.
There was actually a movie about the movie.
That's how bad it was.
There was a movie about the movie.
So that's Joe Biden.
I don't know!
I don't want to hear!
Say hello to my little friend!
I don't want to hear about it anymore!
I mean this guy is a crazy person!
Folks, on the deficit, because the show, I mean, we could do the funny stuff all day, but let me just give you the numbers, because we do facts here, okay?
Here are the deficits from 2016 to now.
Federal deficits, meaning the shortcoming every year we had between tax revenue, what the government took from you, And what the government spent.
I don't mean to... I'm not trying to demean the audience.
There were liberals listening and I'm dead serious.
They don't understand the difference between deficits and debt.
Deficits are annual shortfalls.
Okay?
And I'm sorry to have to talk slowly, but they genuinely don't get it.
2016.
Why do I start then?
Because these are the Trump years.
I'm not telling you these deficits are acceptable.
I'm just giving you the numbers.
I don't believe in deficit spending.
I don't care who did it.
Trump or Biden.
I'm just giving you the numbers.
So pre-pandemic, the deficits in the Trump years, 585 billion in 2016, 665 in 17, 779 billion in 18, 984, what is it, 16, 17, 18, that's 19.
2020, this is the COVID stuff, where the ridiculous spending stuff happened.
$3.1 trillion deficit.
18, 984, what is it, 16, 17, 18, that's 19.
2020, this is the COVID stuff, where the ridiculous spending stuff happened.
$3.1 trillion deficit.
You're talking about nearly three times the highest deficits we ever had in the Obama years.
But in 2021, 2.7 trillion.
So do you see the game Biden's playing?
And this is why I really get offended at Democrats.
Because whereas I'll tell you the truth, we ran heavy deficits in the Trump years.
Unacceptable.
We ran them in the Bush years too.
Unacceptable.
Period.
Because I believe in principles, like don't spend money you don't have.
You see how the Democrats can't do the same?
How they play a game here.
Yes, deficits are going down.
They were $3.1 trillion during the COVID splurge that caused this inflation crisis.
But ladies and gentlemen, here's the game.
This is like suggesting, say you make an annual salary of $100,000, right?
Doing okay.
And in one year during COVID, you're forced to splurge on everything just to stay afloat and borrow all kinds of money, and you spend $400,000.
So that year, you accumulated a deficit of $300,000 that you're going to owe.
That's like calling yourself like a thrifty guy because the next year you only spend $200,000.
$100,000 more than you earn.
Nick, yeah, I only spent double what I made this year, but I'm definitely thrifty.
Thrifty!
Thrifty!
I am thrifty!
I am Scrooge McDuck on this one.
I'm not spending a nickel.
Bro, you spent twice what you earned.
Yeah, yeah, but last year I spent four times what I earned.
So what really, that's what he's doing.
That's while pushing, by the way, to build back better, which would get us right back to the deficits we had during COVID.
You see how these people lie to you all the time?
Swap your Republicans too, folks.
You're never wasting your time here, I assure you.
I will not spin your wheels.
I'm not here to do that.
It's pointless.
Do we have time for the second one, Jim?
Can we squeeze this in, the fair share one?
Yeah, let's squeeze it in.
Here's Biden again, screaming and yelling about the rich not paying their fair share, despite the fact the first eight months of this fiscal year, we've raised the most tax revenue by the federal government in United States history.
Check this out.
All I'm asking is for the largest corporations and the wealthiest Americans to begin to pay their fair share in taxes.
I'm deadly earnest.
Anybody out there think the tax system is fair?
Raise your hand.
Look, under my plan, I made this commitment in the beginning and nothing's changed.
No one making less than $400,000 a year will pay a single solitary penny more in federal taxes.
Okay, that's just nonsense.
He's proposing massive corporate tax hikes that are going to be passed on to you, the consumer, just like inflationary pressures were passed on to you, the consumer.
But again, you want lies, just keep listening to Joe Biden and this nonsense.
Anybody head out there to Target, raise your hand!
Talk to some!
Screaming.
Screaming like he's had too many Heineken's in the bar.
You don't have to go home, Joe, but you can't stay here.
My family owned a bar.
We had a bouncer on Saturday nights for this specific reason.
Hey, get that guy out of the bar.
What is he always yelling about?
The rich don't pay their fair share.
Does this dunce even look at his own federal government numbers?
We just raised, even adjusted for inflation.
The federal government took from you the most amount of money it has ever taken out of the economy in U.S.
history, and the top 20% of earners pay 80% of the taxes.
The top 10% pay 40 to 50% of the taxes.
What the hell is he talking about?
The answer is, whatever he wants to.
He's just a liar.
There's no complicated explanation.
He's just an unrepentant liar.
He's always been a liar, a grifter, and a corrupt loser his entire life.
He was a laughingstock in the Senate.
And that's how you get this.
The screamer in the bar.
The bouncer's got to kick out because he won't stop screaming.
Thanks for listening to this special episode.
I really hope you enjoyed it.
We have another special compilation for you tomorrow.
We'll be back with our normal daily podcast shows this Thursday, July 7th.