BUCK: Biden just spoke in the last hour to the whole nation or to whoever is watching on the jobs report, the economy, this bill. They really are calling it the Inflation Act, which is interesting, because doesn’t it kind of sound like it’s gonna cause more inflation? Shouldn’t they at least call it the anti-inflation act? But I guess anti-something doesn’t sound good to people. You want to be for something, not anti-something, as a law, I guess. I don’t know.
The Inflation Act. But this is where you’re gonna see a lot of contentious back and forth. And we are, unfortunately, gonna be reliant on or we’re gonna be using economist predictions, and that’s not always gonna work out the way we want to because they’re gonna put out their economists, their numbers; we’re gonna put out our numbers, and who’s telling the truth? By the time people figure out who’s right, who’s wrong, what the truth is.
So much has passed that people forget who was saying right, right? This is… Half of the news media would no longer have a job if being wrong about something was brought up later on as a reason to not listen to them anymore. They say what they think will land well when they say it — true of politicians, true in the media — and then by the time they are wrong about everything, they just pretend like they didn’t say it, or they just move on to something else.
You all remember, of course, the great Rush himself saying the Drive-By Media. They destroy, they don’t care, they move on. It’s absolutely true. So Biden is gonna tell everybody, “Oh, there’s no reason to worry about this bill. It’s gonna be amazing, in fact!” So amazing that they had to drag even a couple of Democrats across the finish line on this one. Not a single Republican vote are they getting for this.
They’re gonna be voting on it on the floor of the Senate tomorrow. Oh, speaking of the Senate, a sharp-eared… Well, I guess all of you heard me say this, but for some reason I kept confusing Delaware and Connecticut in my mind with the senator, Coons, who is, of course, from Delaware, Joe Biden’s home state, not from Connecticut. We were just talking about Blumenthal. Blumenthal is a Democrat senator in the state of Connecticut.
But let’s get back to… Anytime I get something wrong I want to get it right; so let us know. You’re never being too much of a stickler for the facts if I say something that is objectively in need of correction, please, give us a heads-up. And if you go to ClayAndBuck.com and become a VIP you can email in your corrections to us to the VIP number and make sure that we are always, always getting it right.
We’re still trying to live down the… Who was it? Yes, I think I said… Now I can’t remember what the mistake was, but I remember who was involved. Viper. Who’s the other one from…? There’s Goose and Maverick in Top Gun. Obviously, Goose, RIP. (interruption) Jester! Jester and Viper. I messed up Jester and Viper, and we got lit up on that one. The mix-up, Ironside with Tom what’s-his-face, that other guy who is really important. Skerritt, Tom Skerritt, great eighties actor.
Michael Ironside actually really had some good roles, too, did some good stuff. Anyway. So I wanted to correct that. Biden is outta making the case to people right now. And understand this: The moment… I told you it is wake-up week for Republicans because momentum is shifting right at the critical point. Momentum is shifting. Just a little bit. We don’t need to run for the lifeboats or break the glass, hit the panic button. Don’t have to do any of that stuff.
But this is a week where we are getting a little dose of reality here about what’s gonna happen going into these midterms, what these individual races are looking like. And I’m telling you even if we go into something of a more prolonged recession here, by the time people are voting for president, it’s very likely the U.S., as much as Democrats make it worse, will be in something of a rebound, and that’s why I am not convinced that Joe Biden is going to forgo a second term, even trying to get a second term.
Here he is out there telling everybody that if you make less than 400 grand, the Inflation Act is not to raise taxes.
BIDEN: This bill will not… Let me repeat this: This bill will not, will not raise taxes on anybody making less than $400,000 a year. When it comes to the benefits of this bill, you don’t have to take my word for it. More than 130 economists, seven (sputtering) noble laureates in ecnoics, former secretaries of treasury, Federal Reserve – former Federal Reserve vice chair, former director of the congressional budget office wrote that this bill will – they combined signed, will, quote, “fight inflation and lower costs for American families while setting the stage for strong, stable and broadly shared long term economic growth.”
BUCK: (impression) “So 800 economists and five million Nobel laureates.” Right. “Everybody agrees with me,” is what he’s saying. “Everybody agrees with me who knows anything.” It’s not true. But this is the perception he’s trying to create with this. I would have to ask some very basic questions. I don’t have a PhD in economics or a Nobel prize in that field as does, say, Paul Krugman. But I’m also not wrong all the time.
Isn’t that interesting. How many of the individuals that he cited there from that huge number, “Err six million economists and eight bajillion really smart math guys. They’re smart at the math! What do I mean by math? I mean the numbers on the page. Add ’em up, no calculator. Old school with the pencil!” Yeah. Joe Biden’s let you know. That’s how it goes. How is it that they’re gonna raise taxes on corporations?
How is that tax is not gonna result in higher prices at a time of rising prices for individuals. Just wondering, would love them to explain that one a little bit. You’re gonna have taxes getting boosted on manufacturers. What do manufacturers do? They make stuff, right? And if they’re making stuff and their costs are up — as they currently are already, but if they’re raised even more artificially by the government increasing their tax bill — what happens then?
Well, prices go up, too, even more than they already have. But the part of this where you’re really seeing ideology in place of anything even approaching economics, math, reality is on the energy side of it. Biden here is making his case to everybody that — this is fascinating — clean energy, windmills and solar power are actually about “national security.” Think of the intellectual gymnastics. It’s really more like a belly flop into the shallow end of the pool, but think about the economic gymnastics required to get to this place. Here he is.
BUCK: Oh, boy. (impression) “You know, solar panels, we — we… (sputtering) You know what’s really gonna juice this economy, you know what’s really gonna get it all going? We throw some tax funded — taxpayer funded solar panels on some people’s houses. It’s gonna be a great idea!” You know, China spent a lot of time, by the way, getting access to and really controlling the supply of rare earth metals that are necessary for this whole battery and solar, green energy future that we’re always talking about in this country.
So it’s fascinating they keep telling us, “If only we were reliant on the windmills and the solar panels we wouldn’t have to worry about the global energy markets; we would have much greater security.” But if you look a little deeper into that, those rare earth minerals and the processes used to get them and manufacture them into the Green New Deal energy technologies, are very high in energy costs and real pollutants to the environment. Just note that.
And the Chinese have the far better access, have spent much more time on acquisition of rare earth minerals than we have. So, they haven’t really thought this thing through other than, “Climate change! Scary! Spend money on climate change issues!” That’s all they can think about right now because they’ve been told this. And, you know, what’s really… A lot of people want to be told what to do. They want to be told what to think. We saw this during covid, unfortunately.
That’s why there’s still a lot of folks walking around with three masks on outside. Okay, only one mask, but it’s an N95. They’re walking around because they want someone who has all the answers or pretends to have all the answers and makes them feel like everything’s gonna be okay. Democrats are doing that with climate change all the time. It’s, “The world’s gonna end unless you do what we say.
“And then everything will be great, and you get to be one of the good people who have stopped this evil from befalling the whole planet.” That’s the pitch, right? A lot of people go along with it. A lot of people think that this is exactly what they need to be a part of. Costs them nothing, really — or at least in the immediate sense — and they get to be saving the planet. Saving the planet. The Green New Deal, Joe Biden.
These are people who have no understanding whatsoever of the role that fossil fuels play in the economy in a sense of what creates our real prosperity and where America has a tremendous advantage over so many other countries. Huge advantage over China in — you guessed it — fossil fuel production. We are blessed in this country with access to unbelievable energy reserves. And the left just wants to, out of a sense of arrogance and spite, move us away from that as fast as possible at whatever the cost is.
Because they’ve turned this into a function of religious belief. And Joe Biden out there telling everybody that this is about national security transitioning to greener… (groans) I mean, come on. Trust me. Vladimir Putin is not scared of libs in the valleys of California putting some additional solar panels funded by taxpayer credits onto their houses, okay? That’s not making… The Saudis aren’t worried about it. The Russians aren’t scared of it. But these are the things they’re trying to sell you on with this bill. Doesn’t matter that it’s not going to work; they are dedicated to it.
BIDEN: (muttering) I must admit, total disclosure, I’ve spoken to the chairwoman about the possibility of my being able to buy one of those Corvettes in electric vehicles, you know, when the come out, and I’m not gonna be able to do it because I can’t drive a vehicle while I’m vice president — while I’m president any more than when I was vice president.
BUCK: There you had Biden saying he want to buy an electric Corvette. He’s kind of mumbling, do the Biden thing, “well, vice president… I mean, president!” Electric Corvette, huh? They’re gonna be making those. That is a thing. They’re gonna be making electric Corvettes, they’re gonna be making a lot of electric cars going forward. Notice how the left claims to care so much about climate change.
And yet the person who has done more for the electric car industry to be really on the up and up more than any other, Elon Musk and Tesla, gets a lot of heat from the left. They don’t like him, ’cause he believes at some level in capitalism and freedom, and is reality based in much of his thinking. I’m sure he’s not right wing on a whole range of things, too, but he does have some places where he is highly rational — or in general he’s highly rational — in his thinking and there’s some places where that makes you effectively right wing these days.