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Biden ripped for 'lie' about lowering gas prices - YouTube
Channel: Fox Business
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we've got a big chunk of the cavalry
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right here on set with me today in a
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wonderful wonderful segment coming up a
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nice long segment we've got steve moore
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committee to unleash prosperity hotline
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and freedomworks and the author of
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godzilla and kevin hassett former chair
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of the council of economic advisers and
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author of the most important book of the
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century stopping american slide to
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socialism gentlemen
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welcome this is the first for both of
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you on set well put great monologue at
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every part of it i agree okay
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let me begin uh let's just let me begin
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with
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all the fruits and nuts at davos okay
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you must have gone did you go to davos
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don't you remember i i hit we were in
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the roosevelt room
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and then and then the chief was like who
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wants to go to davos and i'm like over
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behind behind mercy schlapp
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once in 2017 when trump was just elected
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and it was one of the most
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extraordinarily hostile audiences i've
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ever spoken to and what i learned at
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davos was there were two things these
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european bureaucrats were against donald
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trump and brexit
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that's it so
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i mean what about this story
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why do we have to have astronomical
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gasoline prices it's not a blessing it's
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a curse it hurts people it hurts
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ordinary working folks that's my point
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and i meant it when i said in davos
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which is a lovely place up in the in the
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swiss alps and so forth and i was up
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there a couple times with uh with
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president trump but there's no blue
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collar workers all right there's no
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people that work with their hands or
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wear hard hats or build things it's all
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these ceos and paperwork and kevin
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that's the part that bothers me because
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it's the
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blue collar folks who get hurt the most
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by these outrageous uh uh fossil fuel
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prices that have been spawned by the
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fossil fuel crusade by uh biden and
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kerry and and they don't really care
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about climate really if you think about
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it so for example because you and
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president trump and i know you were
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driving force behind this you know
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expanded u.s natural gas production so
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much by making it easy to get permits
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and opening up public lands and so on as
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you then naturally get as you were well
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you were right in the front of that i
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you know i i was you know calculating
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the statistics that you showed that you
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were doing a good job but you were you
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were given
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the backup numbers to prove that we
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might be right yeah but but the point is
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that one remember one number i really
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remember when we put this out as a
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report the white house while we were
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there was that natural gas consumption
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went up so much under trump
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replacing coal for uh electricity
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generation that uh the natural gas
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expansion under president trump had a
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bigger effect on uh two emissions in the
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us than obama's clean power plan
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and
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so you know they celebrated obama's
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clean power plan they attacked president
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trump when he backed away from it but
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then when he actually accomplished what
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they claim their goal is a big reduction
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in co2 emissions nobody said thank you
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oh so that's how we do it instead they
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go to davos and they sneer at him just
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like they did when steve was there and
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they were calling him a nazi and things
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like that you make a really good point
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why is the left why are the climate
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change fanatics against natural gas
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natural gas is the single biggest force
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over the last 15 or 20 years that has
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led to dramatic reductions in co2
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emissions most americans don't know this
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because most americans haven't been told
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you're exactly right
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over the last five or six years the
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united states has reduced our carbon
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emissions more than any of the countries
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that sign that damn paris climate accord
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i mean they make all these promises and
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they don't keep them
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i want to make one point if i could
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about what what uh biden said uh was it
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yesterday about uh the the high gas
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prices i've said this all along the the
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white house has been talking out of both
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sides of their mouth on this energy
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crisis on the one hand biden's saying
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the president we're doing everything we
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can to lower gas prices no they're not
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that's just a lie they're not doing
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everything they can they're loving it
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yeah exactly london they are doing
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everything to keep let's be honest they
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don't want high gas prices because they
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want people to lose less gas and the way
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to have people use less gasoline is to
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raise its price that's the closest i
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think he's come to acknowledge that they
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want high gas that's exactly right and
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you've got carrie in davos spewing forth
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his stuff i want to get back to kerry in
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a second
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but kevin uh on this show not so long
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ago former energy secretary
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rick perry said you know
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if we sold more nat gas if we had more
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lng exports
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to
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india to china
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we would do so much more not only would
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we help our own balance of payments but
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we would substitute lng for coal which
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is the worst emitter of all and we would
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make a cleaner world in fact we would do
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more to make a cleaner world than all
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the rhetoric of the paris climate
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accords now that's a thought that i
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never hear from team biden in fact that
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would actually be an incredible
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transition what what biden has is a not
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credible transition really and the fact
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is though going back to the earlier
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point that all this progress was made on
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climate all this progress was made uh
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under president trump on income
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inequality we talked about that too and
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the only like you go to davos and the
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only thing they appear to care about is
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income inequality and climate right
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those are the two things and the fact
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that they're in complete denial about
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the progress that was made it's just
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really cold and hard and the facts
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suggest that they don't really care
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about those issues they're just using
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them as cudgels to gain political power
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so what they want to do is they want to
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oppress the people they don't invite to
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davos and then they're using climate
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change and income inequality to arouse
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uh their their worst sentiments and get
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them to vote for democrats and liberals
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all around the world
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right see this is a power play and the
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davos thing
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is all about centralized that's just how
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it's going to say whether it's
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governments or ceos it's about
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centralized power
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and it becomes ideological and they're
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turning against the roots of free-market
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capitalism which is another thing that
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always burned me up about going to those
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places and if you listened and i
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listened to some of those speeches that
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have been given already at davos and
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they all have one theme one world
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government now i don't want people to
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say oh steve moore is a black helicopter
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but they believe in one world government
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and they want the the united nations and
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all these other agencies which is a
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direct threat this is something trump
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got that's a direct threat to american
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sovereignty and we're not going to go
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for that american people why they didn't
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like trump a related point
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it's so it it's also a war against the
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car
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they hate cars if you listen to the
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rhetoric it's all about putting
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everybody in mass transit except of
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course the elite so they'll still have
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their own cars but you know
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if you want to help kevin you can tell
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me if i'm right about this but i've seen
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a number of studies that show one of the
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best ways to help the poor advance
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economically is get them a car so they
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can get their jobs and they want to take
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cars away from people so imagine the the
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uh the uh mother with three kids driving
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her kids around to uh soccer practice
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and graduation all these things she
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doesn't have a car
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you know what's that's gonna mean for
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that anyway i don't
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i have nothing against electric cars oh
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i don't have nothing none of you but now
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they all cost a hundred thousand dollars
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so be a little hard for the person
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you're describing or maybe 65 or 70 000
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but i have nothing against it see kevin
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here's um a serious question we used to
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talk about all the above so we have
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side-by-side
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fossil fuels and renewables and we would
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try to advance the technology as best
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and nuclear
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and nuclear for sure now we've lost that
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now my question is if you succeeded in
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abolishing fossil fuels in the next 20
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minutes which is what john kerry wants
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what exactly is going to replace it what
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is the replacement plan
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right they they don't have a replacement
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plan and uh to actually put it in
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perspective this is some work casey
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mulligan and i did before the election
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that uh if everybody has an electric car
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then instead of getting stuff from
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gasoline you're getting miles from
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electricity and electricity generation
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in the us has to go up if we just move
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everything from the kind of car you and
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i have so that okay that it basically
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moves it up by 25
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and so we have to increase power
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generation by 25
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uh if we move everybody to electric car
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if you phase fossil fuels out at the
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same time well fossil fuels right now
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produce about 70 percent of the
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electricity in the us oh right so you're
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basically rebooting the entire grid it's
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95 of the grid if we if we do it and if
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there's just no way to do it so why did
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they get that or why don't they
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acknowledge because it's not about i
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mean you said it very well it's not
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about climate change it's about control
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of the economy and you know larry maybe
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you can answer this question for me
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because i listen to these speeches by
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major ceos of not just european
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companies but american companies that
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have completely bought in to the zero
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carbon emissions i don't really
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understand
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the logic and was astonished at it uh
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back in 20 i think it was 2019
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when trump spoke
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he was well received because the economy
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was doing so well right nobody could
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deny that it was like oh what a shock
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the economy's doing well the corporate
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tax cuts worked etc etc but other than
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that he was never taken seriously
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and politics were always you know
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anti-trump globalist
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globalization
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and so forth and so on and it all seemed
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to revolve around climate change i don't
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know why climate change became this
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global rallying cry i mean i worry about
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democracy in a lot of different areas
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but it did look let me go back to this
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other point um this was the newt
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gingrich point about big government
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socialism and i referred to it as
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progressivism
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i don't think kevin i mean i think i
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want you all to talk about the economy
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and how you see it right now but it
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ain't great and i don't think
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under current policies binomics policies
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if you will which are the progressive
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policies the taxing the regulating the
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spending the money printing and all the
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rest of it we will not regain high
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growth and low inflation until those
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policies are replaced that's my sense of
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it you tell me right no i agree and and
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in fact i think that they're in complete
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denial right now so we've got john kerry
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at davos uh you know he he basically
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could have said hey you know uh you know
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here's our plan to go after inflation
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and and to improve like reduce energy
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costs in the us and and so don't worry
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there's there's the cavalry is coming
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right he could have given that speech
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janet yellen could have done the same
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thing when she went uh before congress
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to give a talk but it said she decided
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that it's bad for the economy if roe v
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wade is repealed and so they're out
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there changing the subject and then it's
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putin's fault it's larry kudlow's fault
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it was actually our tax cuts were blamed
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this week by them uh it and the fact is
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it shows that they don't have a clue and
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and and so oh crossbone blame the laffer
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curve
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yeah the the one thing i just want to
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say though is that that by binomics is
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the denial that incentives matter so
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ultimately they're it's their wish
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hoping for the best
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and raise taxes raise minimum wages do
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whatever you want and you won't have any
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negative effect on anything and that's
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why supply is getting crushed they
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removed work incentives they shut down
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pipelines supply is getting crushed
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while they're helicopter dropping money
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and it's why every day that biden is
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president trump's numbers get better
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because people say hey it worked pretty
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well but you i may not have liked some
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of the things trump did but the policies
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worked spectacularly well but i i think
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a related important point to this though
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is you go i go back to that speech that
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trump gave about 10 12 days ago where
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you know when the market was just
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starting to get really soft and he just
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basically doubled down on everything
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we're going to do build back better
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we're going to do tax increases on the
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rich and the market has been in a funk
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ever since because there was no sense
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that this president is going to get off
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of these liberal progressive policies
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the way bill clinton did no reset
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there's no reset to what's your point
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is there i'm just trying to think you
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know kevin it's a very good point
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the only incentive i can think of is the
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incentive of high gasoline prices
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but other than that they don't buy tax
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incentives right we never hear that
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um i don't hear that's a really
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important point markets don't work they
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think of price gouging and scouting is
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their big client and they're going to
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have um
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they're going to have um ftc ftc
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interference and and
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everything's a monopoly or an oligopoly
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so how do we how do we get out of this
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fix i mean there's no confidence that's
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for sure they don't look at the stock
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market but the stock market is telling
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you there's no confidence the stock
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market is telling us that your recession
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forecasts or your recession worries are
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well justified uh the stock market's
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also telling us inflation's a problem
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and the fed's going to have to fix it so
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let's just spend a moment where do we go
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on the economy
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well you know i think that what would
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normally happen is that the america's
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voters are very rational and they're
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very sensible and when they see somebody
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failing as bad as joe biden and the
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democrats are failing then they tend to
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adjust
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but the fact is that even if the
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republicans you know sweep congress they
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get the house and the senate then a bill
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clinton or even a barack obama might
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have sort of sat down with republicans
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and said geez you know the economy is
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really terrible
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let's work something out to try to turn
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it around
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especially if it's someone who's running
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for re-election and they want to have a
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strong economy when they're running for
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re-election right but i think that what
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we've seen from the bide administration
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is such a lack of imagination such a
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lack of sentience uh that you know
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there's just no chance i think and the
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markets will expect that they'll ever
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work with republicans even if
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republicans capture congress so
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republicans can stop some of the
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regulations and so on with congressional
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review but for the most part we're
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looking at a good long slog before
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things start to get fixed because i
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don't think that biden is going to run
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towards the middle and work with
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republicans if republicans capture
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congress you've said
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i think you close every show by saying
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the cavalry is coming the cavalry is
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coming the republicans going to win a
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monster election november but my
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question are they going to get here in
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time before they really wrecked this
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economy the other thing and are they
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going to say the right thing can i just
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raise that point i don't mean to be too
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mischievous republicans ain't perfect
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that's just where i was going with this
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all right i see these big spending bills
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that are coming out of congress you know
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the the little indicator was that 40
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billion dollar uh aid relief and my good
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friend and your good friend rand paul
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said hey let's pay for this let's find
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40 billion dollars of saving somewhere
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else and we couldn't even get
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republicans to vote for that so sorry
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folks but i'm not sure the republicans
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are going to be necessarily the
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salvation but they certainly will be an
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improvement there's a 350 billion dollar
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help china bill compete with china bill
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um i have first of all it's an outrage
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in my opinion second of all 18 or 20
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republicans voted for it third of all
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kevin nobody's the word pay for is not
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in the vocabulary anymore right well
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well what needs to happen uh is that we
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need to get like the bob rubins the
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larry suburbs
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the people that historically bring them
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in
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actually recognize that incentives
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matter and bring them in and work with
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them to try to they won't do that though
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they hate summers if they if they get
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slaughtered bad enough you know then you
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know maybe they will uh
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and i mean there's a lot of talent on
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their side on their team that's had you
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know some success in the past and so one
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would think that there's a chance maybe
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that we could work with them but my
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guess is it's not going to happen
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because you see how committed to these
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weird ideological fetishes
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in fact you know the democrats in these
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primaries they're actually
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rush rushing out of the party and
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they're moderate faction i mean i don't
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know if you've noticed in these
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primaries but you're getting these aoc
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types that are running against the few
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moderates that are left in the
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democratic party and they're beating
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them in the primaries so
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this party has moved extraordinarily one
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last question uh i'm trying to recruit
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both of you at least to the principle
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of a pro-growth balance budget the
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principle okay um
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which would include
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making the tax the trump tax reforms
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permanent the deregulation
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the energy independence the limiting of
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spending the making of tough choices on
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the spending side
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