Latest / Brian Thomas / Judge Napolitano

Transcript

Judge Napolitano · Brian Thomas

• 0:02
  Speaker 1: 833-55-KRCD Talk Station. Sadly, he's not there. Something's wrong. Judge Annapolitano,
• 0:10
  Speaker 1: we exchanged emails yesterday. I received his column, Twilight's Last Gleaming,
• 0:15
  Speaker 1: which makes some really excellent points about the sad direction
• 0:18
  Speaker 1: our country's going in. A couple of back and forth
• 0:20
  Speaker 1: emails yesterday with Judge Annapolitano, but sadly, I look up,
• 0:23
  Speaker 1: he's not logged into the Zoom call. So Joe tried
• 0:26
  Speaker 1: to reach out to him and figure out where he
• 0:27
  Speaker 1: is and what's going on. So I hope nothing is
• 0:30
  Speaker 1: going on. I hope just it's inadvertently. Oh, see, there
• 0:33
  Speaker 1: he is. I was my, my apologies.
• 0:38
  Speaker 2: The internet gremlins are assaulting me this morning.
• 0:42
  Speaker 1: Well, since we, I mean, we exchanged texts yesterday or
• 0:45
  Speaker 1: emails yesterday. I'm like, I know he knows this is
• 0:46
  Speaker 1: going on. So, okay, fair enough. It's the, yeah, the,
• 0:49
  Speaker 1: the gremlins that we face every day here on my
• 0:52
  Speaker 1: program as well. Judge Ed and Napolitano, always a pleasure
• 0:54
  Speaker 1: having you back and, Excellent column, Twilight's Last Gleaming, and
• 0:59
  Speaker 1: the word's gotten out. Thankfully, I guess we had to
• 1:02
  Speaker 1: cross $ 40 trillion for people to get the memo about
• 1:05
  Speaker 1: overspending and wasting our children, grandchildren, and great-grandchildren's future in
• 1:11
  Speaker 1: this country. Judge Napolitano, $ 40 trillion, and we're projecting about
• 1:16
  Speaker 1: $ 2 trillion additional this year and deficits rising to $ 3. 1 trillion.
• 1:20
  Speaker 1: Just the outset of the fun facts in your column
• 1:22
  Speaker 1: this morning. This is unsustainable, Your Honor.
• 1:25
  Speaker 2: It is, and you can't blame either party or any
• 1:29
  Speaker 2: president because it's both parties and all presidents. I mean,
• 1:33
  Speaker 2: you know the last person to balance a budget for
• 1:36
  Speaker 2: two years in a row?
• 1:37
  Speaker 1: Bill Clinton.
• 1:38
  Speaker 2: Bill Clinton, correct.
• 1:40
  Speaker 1: 1993, wasn't it?
• 1:41
  Speaker 2: Correct, correct. That's when Al Gore, I wanted to wring
• 1:45
  Speaker 2: his neck, Al Gore broke a tie in the Senate
• 1:49
  Speaker 2: to raise income taxes retroactively. And it went all the
• 1:54
  Speaker 2: way to the Supreme Court and said Congress can tax
• 1:57
  Speaker 2: anything it wants, but it balanced the budgets. Today, nobody cares.
• 2:03
  Speaker 2: I mean, Trump has been extreme because of the war
• 2:09
  Speaker 2: and his fixation on the Defense Department. He wants to
• 2:12
  Speaker 2: give them $ 1. 5 trillion, which in one year will be
• 2:16
  Speaker 2: spending more than the next 12 Defense Departments combined, which
• 2:20
  Speaker 2: includes Russia, China... Iran, India, Pakistan, you know, countries with
• 2:27
  Speaker 2: big militaries. So he's a contributor, but he's not the
• 2:31
  Speaker 2: cause of this. I mean, this has been going on
• 2:34
  Speaker 2: since Woodrow Wilson. You've heard me use this number or
• 2:39
  Speaker 2: these stats. I'll use them again. He borrowed $ 30 billion,
• 2:45
  Speaker 2: seems small potatoes today, to fight World War I. We
• 2:49
  Speaker 2: are still paying interest on the $ 30 billion. It's been
• 2:52
  Speaker 2: rolled over. It's owed to different people, but it hasn't
• 2:55
  Speaker 2: been retired. You know how much interest that's been paid
• 2:57
  Speaker 2: on that $ 30 billion? $ 15 billion. That's 50, 5-0%. Only
• 3:03
  Speaker 2: the federal government dealing with taxpayer dollars would pay 50% interest.
• 3:07
  Speaker 1: That's the mentality in both parties. Well, Your Honor, in
• 3:15
  Speaker 1: modern monetary theory, they're making the argument that you can
• 3:17
  Speaker 1: just print yourself into prosperity. $ 40 trillion, big deal. Run
• 3:20
  Speaker 1: the printing press and eradicate it, which means the value
• 3:23
  Speaker 1: of the dollar goes down to basically zero. They don't
• 3:26
  Speaker 1: get the whole inflationary reality of modern monetary theory, but
• 3:30
  Speaker 1: I think they've been just riding that theory for years
• 3:33
  Speaker 1: and years and years, ignoring the deficit. You know, I
• 3:36
  Speaker 1: worry about my children, Your Honor. I commented to you yesterday,
• 3:39
  Speaker 1: like my mom will regularly point out, well, You know,
• 3:42
  Speaker 1: if it hits the fan or when it hits the fan,
• 3:44
  Speaker 1: at least at 87 years old, I'm not going to
• 3:46
  Speaker 1: be around to see it. At 60, my age, I'm
• 3:49
  Speaker 1: trying to start to think along the same lines. You know,
• 3:52
  Speaker 1: if I make it to 80, will we be underwater
• 3:55
  Speaker 1: and collapse with this monetary policy we've been following? But
• 4:01
  Speaker 1: then again, I think about my children.
• 4:03
  Speaker 2: Yes, your daughter just got married. I mean, what kind
• 4:06
  Speaker 2: of a world are she and your son-in-law going to
• 4:09
  Speaker 2: bring babies into?
• 4:12
  Speaker 1: That's a great question.
• 4:12
  Speaker 2: Is Ohio going to be part of the United States
• 4:15
  Speaker 2: of America, or is this all going to break off
• 4:18
  Speaker 2: into separate republics because the federal government collapsed of its
• 4:22
  Speaker 2: own weight?
• 4:25
  Speaker 1: Well, I mean, we talk about existential threats all the time,
• 4:28
  Speaker 1: Your Honor, and I have been on record for years
• 4:30
  Speaker 1: saying if there is any existential threat in the world,
• 4:33
  Speaker 1: I don't believe it's a bomb from Iran or Russia
• 4:35
  Speaker 1: or I don't believe necessarily the Chinese are going to
• 4:38
  Speaker 1: be behind it. I believe it's the weight of our
• 4:40
  Speaker 1: own profligate spending, which is going to ruin us.
• 4:43
  Speaker 2: Right. Right. I mean, look at how difficult. And, you know,
• 4:48
  Speaker 2: this is interesting, Brian, you and I rarely spend the
• 4:52
  Speaker 2: bulk of my time with you. on economics, but this
• 4:56
  Speaker 2: is economics that everybody can understand.
• 4:59
  Speaker 1: It is.
• 5:00
  Speaker 2: You know, the blue-collar guy who drives to work in
• 5:03
  Speaker 2: his pickup or uses his pickup as part of his
• 5:07
  Speaker 2: job knows how expensive things have gotten and how fuel
• 5:11
  Speaker 2: costs him twice as much today. Part of that is
• 5:14
  Speaker 2: the war. Part of that is inflation. Inflation is going
• 5:19
  Speaker 2: to continue to get worse because that's what the government does.
• 5:22
  Speaker 2: That's how it... tries to cushion the blow of its
• 5:26
  Speaker 2: profligate spending.
• 5:29
  Speaker 1: Well, inflation is going to get a little bit worse, too,
• 5:31
  Speaker 1: and I say what you want about tariffs, but a
• 5:33
  Speaker 1: great Wall Street Journal reporting the new tariffs with Canada
• 5:36
  Speaker 1: are going to increase. We are already paying in the
• 5:37
  Speaker 1: United States roughly 70%-ish more on steel and aluminum than
• 5:42
  Speaker 1: every other country in the world because we're engaged in
• 5:44
  Speaker 1: this tariff battle. I know there are a lot of
• 5:48
  Speaker 1: fans that this should be an even playing field, and
• 5:50
  Speaker 1: I embrace the concept of an even playing field, but
• 5:52
  Speaker 1: You know, when you're involved in these negotiations with Canada,
• 5:55
  Speaker 1: and it turns out we're going down the tariff road,
• 5:57
  Speaker 1: we are going to be and currently are paying a
• 6:00
  Speaker 1: lot more than we really should. Government policies at work.
• 6:04
  Speaker 2: Tariff is a sales tax, and it affects Joe Sixpack.
• 6:09
  Speaker 1: Everyone.
• 6:09
  Speaker 2: You go to Walmart to buy a toaster. It doesn't
• 6:12
  Speaker 2: cost you $ 25. It costs you $ 30. The Supreme Court
• 6:16
  Speaker 2: invalidates the tariffs. Walmart gets back $ 100 billion, $ 100 billion,
• 6:22
  Speaker 2: I'm rounding out the numbers, that it paid the federal government.
• 6:24
  Speaker 2: Now it's up to you to go to Walmart to
• 6:27
  Speaker 2: prove you bought the toaster to get your five bucks back.
• 6:29
  Speaker 2: It's going to cost you $ 5 in gas to drive
• 6:33
  Speaker 2: to Walmart to get the $ 5 back. This is ridiculous.
• 6:38
  Speaker 1: Government solutions usually are. Judge Ed Napolitano, judging freedom. Get
• 6:42
  Speaker 1: his podcast throughout the week, Judging Freedom. Just search for
• 6:45
  Speaker 1: it where you get your podcasts. Who is on the
• 6:48
  Speaker 1: program today, Judge Napolitano?
• 6:50
  Speaker 2: Gilbert Doctorow from Brussels, Glenn Deason from Norway, and the
• 6:54
  Speaker 2: great Phil Giraldi.
• 6:58
  Speaker 1: Regular guest.
• 7:00
  Speaker 2: I just keep plodding along, Brian.
• 7:02
  Speaker 1: You do. Oh, and I must interject. We were dwelling
• 7:05
  Speaker 1: on the whole weight of our fiscal irresponsibility, but I
• 7:09
  Speaker 1: have to read one line from your column or two.
• 7:12
  Speaker 1: But fiscal insolvency is only half the story. What's more
• 7:15
  Speaker 1: frightening is the simultaneous deterioration of constitutional norms. The column,
• 7:20
  Speaker 1: Twilight's Last Gleaming, find it tonight wherever you get your columns.
• 7:23
  Speaker 1: Just search for it, Judge Ana Napolitano, Twilight's Last Gleaming,
• 7:26
  Speaker 1: and read it. You'll enjoy it. Judge Napolitano, I always
• 7:28
  Speaker 1: enjoy our conversations every Wednesday, and I appreciate what you're doing.
• 7:31
  Speaker 1: We'll talk again next week.
• 7:33
  Speaker 2: Thank you, Brian. All the best.
• 7:34
  Speaker 1: And to you, sir.