Latest / The Mark Simone Show / Mark interviews economist Steve Moore.

Transcript

Mark interviews economist Steve Moore. · The Mark Simone Show

• 0:00
  Speaker 1: Live from the WR Lifeback Studios, Mark Simon. Well, hey,
• 0:06
  Speaker 1: actually we have the perfect guest for what we've been
• 0:09
  Speaker 1: talking about this hour, that fake news story about the
• 0:12
  Speaker 1: forty billion dollars debt, trillion dollar debt. Steve Moore is
• 0:15
  Speaker 1: the great economist. You should get his latest book, The
• 0:18
  Speaker 1: Trump Economic Miracle. Also he runs the Committee to Unleash
• 0:22
  Speaker 1: Prosperity dot com. They put out the best daily briefing
• 0:26
  Speaker 1: news analysis. It's free, it'll come right to your email.
• 0:29
  Speaker 1: Go sign up for it. Just go to Unleash Prosperity
• 0:33
  Speaker 1: dot com. Steve Moore, how you doing.
• 0:37
  Speaker 2: By Good morning, Mark, Doing very well on the left
• 0:41
  Speaker 2: coast today out in sunny California. So doing just vibes hey.
• 0:46
  Speaker 1: All day, we're going to hear the biggest story all day.
• 0:49
  Speaker 1: Dad has reached forty trillion dollars. And I heard the
• 0:52
  Speaker 1: network anchor say, and it's due to the Trump tax
• 0:56
  Speaker 1: cuts in the cost of the Iran wary.
• 1:00
  Speaker 2: So a couple things. And obviously everyone knows we spend
• 1:05
  Speaker 2: way too much money in Washington. It's it's a it's
• 1:07
  Speaker 2: a self evident truth. And so we have to get
• 1:11
  Speaker 2: start slashing some spending. And Elon Musk tried to do
• 1:14
  Speaker 2: that with Dose and they cut some spending, but they
• 1:17
  Speaker 2: only really skim the cream off of the incredible waste
• 1:21
  Speaker 2: in our budget. So yeah, this is gonld be a
• 1:24
  Speaker 2: wake up call that it's time to slash our budget.
• 1:27
  Speaker 2: We could probably get the better government for about half
• 1:29
  Speaker 2: the cost if we just got rid of the waste
• 1:31
  Speaker 2: and duplication and fraud. And then you look at the
• 1:36
  Speaker 2: revenues and the tax revenues. The tax revenues that are
• 1:39
  Speaker 2: coming in are higher than they've ever been. Did you
• 1:41
  Speaker 2: know that mouth, Yeah, yeah, so we know it's not like, oh,
• 1:45
  Speaker 2: we need more revenue. We playing revenue. You know. It's like,
• 1:49
  Speaker 2: you know, Reagan used to say, you know, you never
• 1:51
  Speaker 2: give an alcoholic another drink, and that's what you do
• 1:53
  Speaker 2: if you raised taxes. If you're given an alcoholic another
• 1:56
  Speaker 2: drink now is for e tillion dollars bad news. Yeh,
• 1:59
  Speaker 2: that's bad. You know, it's you know, we want a
• 2:01
  Speaker 2: lower debt. But let's put this in perspective. The debt
• 2:05
  Speaker 2: today is forty trillion. By the way, when you take
• 2:07
  Speaker 2: out about seven trillion of that is just money the
• 2:09
  Speaker 2: government owns to itself, So it's really the publicly traded
• 2:12
  Speaker 2: debt is about thirty three trillion, and that's sort of
• 2:14
  Speaker 2: gigantic number. Now, if you look at the debt as
• 2:17
  Speaker 2: a share of our assets, you know, our debt relative
• 2:20
  Speaker 2: to our wealth. You know, the wealth of the country
• 2:22
  Speaker 2: is one hundred and eighty trillion, so you know, our
• 2:24
  Speaker 2: debt to uh to you know, to our assets is
• 2:28
  Speaker 2: about less than twenty five percent. That's way way below
• 2:31
  Speaker 2: what it was even at the end of World War two.
• 2:33
  Speaker 2: So we're not going well, we're not going bankrupt, folks,
• 2:36
  Speaker 2: We're not. But we just have to. We can't we
• 2:38
  Speaker 2: just put the government on a diet. Nope, I guess not. No,
• 2:41
  Speaker 2: we can't do that. We've got to spend, spend, spend.
• 2:43
  Speaker 1: Well, if you look at the debt year by year,
• 2:45
  Speaker 1: it seems to go up about two or three trillion
• 2:47
  Speaker 1: every year, and that's what it did here. It's the
• 2:48
  Speaker 1: same increase we always get.
• 2:50
  Speaker 2: So well, it's it's growing faster. And by the way,
• 2:53
  Speaker 2: this is the spending problem. You know, I have to
• 2:56
  Speaker 2: I'm a Republican and I admit it. But the Republicans
• 2:59
  Speaker 2: are just as dope is a Democrats on this stuff.
• 3:01
  Speaker 2: I mean, they all want to spend spend, you know
• 3:02
  Speaker 2: they now reverends, Oh, we need another five min red
• 3:05
  Speaker 2: billion for the military. Okay, if you do. I don't
• 3:07
  Speaker 2: know if you do or don't. I don't think they
• 3:09
  Speaker 2: the Tent of God needs more money. But if they do,
• 3:11
  Speaker 2: then take it out of other programs. You know that
• 3:13
  Speaker 2: like when you do your family budget, if you need
• 3:15
  Speaker 2: to spend more on writem X, you spend money less
• 3:19
  Speaker 2: money on something else. That's not the way the government
• 3:21
  Speaker 2: does it. It just says, oh, we'll just we'll just
• 3:23
  Speaker 2: borrow it.
• 3:24
  Speaker 1: Yeah, hey, let me ask you something else. I see
• 3:28
  Speaker 1: that doctor Fauci's partner, his chief advisor there who it's
• 3:33
  Speaker 1: a guy he was texting, emailing back and forth, David
• 3:36
  Speaker 1: what's his name, has been convicted. This guy is going
• 3:39
  Speaker 1: to prison for covering up the source of the of
• 3:43
  Speaker 1: the virus. So what does that mean for Fauci.
• 3:47
  Speaker 2: Well that's a good question. Now, Billo Fauci has been
• 3:51
  Speaker 2: pardoned right by Biden, so he's not going to jail.
• 3:57
  Speaker 2: I think that, you know, look thing a lot about
• 4:00
  Speaker 2: this because we just had the sort of anniversary of
• 4:03
  Speaker 2: of of of COVID and and uh, you know, we've
• 4:07
  Speaker 2: had so much information coming out. What surprises me the
• 4:10
  Speaker 2: most about this whole episode is that liberals still defend Fauci.
• 4:15
  Speaker 2: If you notice that, Yeah, they're not thing, Oh, you know,
• 4:18
  Speaker 2: this guy's a fiend. We were wrong about him. You know, Look,
• 4:21
  Speaker 2: we've all had, you know, been surprised by people. You know,
• 4:25
  Speaker 2: he thought this person was, you know, not what he is.
• 4:27
  Speaker 2: But but look, this was a fiend and a rascal
• 4:31
  Speaker 2: and everything he said, virtually everything that came out of
• 4:33
  Speaker 2: his mouth was a lie. And yet the left won't
• 4:36
  Speaker 2: admit it. They won't admit, boy, we mean a big
• 4:39
  Speaker 2: mistake of putting this guy in charge of, you know,
• 4:41
  Speaker 2: the country's economy.
• 4:43
  Speaker 1: Steve Moore, I love how you think the left is
• 4:46
  Speaker 1: ever going to say we were wrong.
• 4:47
  Speaker 2: We admit this, and I know they just won't. They won't,
• 4:50
  Speaker 2: they will not. But look, I admit what I've been wrong,
• 4:53
  Speaker 2: believing in that mark. I've been wrong in my life,
• 4:55
  Speaker 2: you know, and I admit. You know, when Bill Clinton
• 4:58
  Speaker 2: became president, said oh my god, the kind of he's
• 5:00
  Speaker 2: going to go into the toilet. And actually we had
• 5:02
  Speaker 2: a strong economy because Clinton surprised me. He was a
• 5:04
  Speaker 2: pretty fiscally conservative president. So I admit when I'm wrong,
• 5:08
  Speaker 2: but they never do. Have you noticed that they will
• 5:10
  Speaker 2: not disassociate for Fauci who ruined our economy. One of
• 5:14
  Speaker 2: the reasons we have this massive debt is because we
• 5:17
  Speaker 2: spent so much money during COVID. And incidentally, you want
• 5:19
  Speaker 2: to bring the debt down, folks, why don't we I
• 5:21
  Speaker 2: got an idea, Mark, I know this is a wowd
• 5:23
  Speaker 2: crazy idea. Why don't we just go back to spending
• 5:25
  Speaker 2: what we were spending before COVID.
• 5:26
  Speaker 1: Yeah, that's a good idea. Hey, speaking of Clinton, Bill Clinton,
• 5:30
  Speaker 1: they loved to yell and scream about he's balanced the budget.
• 5:33
  Speaker 1: He finally balanced the budget. What did that actually mean
• 5:36
  Speaker 1: for us? And nothing really changed after that?
• 5:37
  Speaker 2: Did it? Well? I mean, look when we had the
• 5:41
  Speaker 2: when we did, we did have what three years of
• 5:43
  Speaker 2: balanced budgets? Now that was allowed because he had nukent
• 5:47
  Speaker 2: Rich and the Republicans of Congress. But look, Bill Clinton
• 5:49
  Speaker 2: was as how about this? When people forget it wasn't
• 5:52
  Speaker 2: that long ago. Bill Clinton gave the State of the Union.
• 5:54
  Speaker 2: Remember what he said the europe The government is over?
• 5:57
  Speaker 2: Or was he wrong about that? Can you imagine any
• 6:01
  Speaker 2: Democrat today? Can you imagine if we had a president
• 6:03
  Speaker 2: AOC starting her address to the nation here, big government
• 6:08
  Speaker 2: is over, well, worries me is about We're just at
• 6:10
  Speaker 2: the beginning stages of the era of big government.
• 6:13
  Speaker 1: Wow. Hey, Steve Moore, and he puts out this daily
• 6:16
  Speaker 1: briefing called the Hotline. You got to subscribe to. That's
• 6:19
  Speaker 1: the best stories. You're in California. Is this true? You
• 6:22
  Speaker 1: had this in the hotline yesterday about the tires. Yeah,
• 6:26
  Speaker 1: this is not true.
• 6:27
  Speaker 2: Is it? I mean, I thought it wasn't true. My
• 6:32
  Speaker 2: friend John Fond, who's who worked for us and you know,
• 6:34
  Speaker 2: great guy from Walstitt j Earli and John, he submitted
• 6:37
  Speaker 2: the story and like John, this can't be true. They
• 6:39
  Speaker 2: can't be that stupid in California. But they're now regulated.
• 6:41
  Speaker 2: They're going to have the government basically make the tires.
• 6:44
  Speaker 2: And by the way, the tires on cars today are
• 6:46
  Speaker 2: safer than they've ever been before. But of course California
• 6:50
  Speaker 2: has to regulate everything, and the problem and why should
• 6:52
  Speaker 2: people in New York care about what California does? But
• 6:54
  Speaker 2: because California is the biggest state, you know, in terms
• 6:57
  Speaker 2: of GDP, the people have to you know, all the
• 7:00
  Speaker 2: companies have to comply with the California standards, so they
• 7:03
  Speaker 2: become like a death facto. So California is going to
• 7:06
  Speaker 2: be regulating your tires there in New York and make
• 7:09
  Speaker 2: them much more expensive.
• 7:10
  Speaker 1: And so, but the regular normal tires, like everybody wants
• 7:14
  Speaker 1: Michelan or some really good tire, they're going to make
• 7:16
  Speaker 1: those illegal.
• 7:19
  Speaker 2: You know, Lord knows what they've got planned. I mean,
• 7:21
  Speaker 2: you know, I they just but the thing is back
• 7:24
  Speaker 2: to remember in like the fifties, forties and fifties. You know,
• 7:27
  Speaker 2: back in the olden days when tires, you know, people
• 7:29
  Speaker 2: if you got to put flat tire or crowd will
• 7:30
  Speaker 2: go flying off the ditch. You could die. I mean,
• 7:32
  Speaker 2: today you can practically drive twenty miles on a flat tire.
• 7:36
  Speaker 2: I mean it's tires are so much better. You don't
• 7:37
  Speaker 2: see blowouts like you used to. So I don't know
• 7:39
  Speaker 2: what problem they're trying to solve here in California, but
• 7:43
  Speaker 2: this is but here's the thing. Nobody's going to be
• 7:45
  Speaker 2: able to drive a car in California because of these
• 7:47
  Speaker 2: new expensive tire regulations. But you know what, that's okay,
• 7:50
  Speaker 2: because they're going to get on the high speed rail.
• 7:53
  Speaker 2: Oh yeah, they didn't they spent thirty billion dollars, but
• 7:56
  Speaker 2: they never built that.
• 7:57
  Speaker 1: So you go buy a card. They're going to take
• 7:59
  Speaker 1: the Michelin tires off and put mom Dannie tires.
• 8:04
  Speaker 2: I can't explain that mark the five explanation of what
• 8:07
  Speaker 2: they have planned, but they want to. You know, we
• 8:09
  Speaker 2: used to say, we used to laugh, and they say
• 8:11
  Speaker 2: with the left, you know, if it moves regulated, Well
• 8:14
  Speaker 2: guess what if it moves regulated.
• 8:18
  Speaker 1: Hey, you had another great strain. And this ties in
• 8:20
  Speaker 1: because the Blue States, the Blue States, how many people
• 8:23
  Speaker 1: are fleeing leaving these Blue states.
• 8:26
  Speaker 2: Well, this is an amazing story. So you know, as
• 8:29
  Speaker 2: I said, right, I'm in beautiful I mean California. There's
• 8:31
  Speaker 2: no more idyllic place on the planet than beautiful California.
• 8:34
  Speaker 2: I mean, it's seventy five degrees, the sun is out,
• 8:37
  Speaker 2: there's no humidity. You got the oceans, the mountains. I mean,
• 8:39
  Speaker 2: this is a little slice of heaven. And you people
• 8:42
  Speaker 2: are leaving. People are leave because the taxes are sigh
• 8:45
  Speaker 2: and the regulations are so onerous that for the first
• 8:48
  Speaker 2: time in American history, millions of people are leaving California
• 8:51
  Speaker 2: rather than coming into California. California last year lost population
• 8:56
  Speaker 2: to every state but two. By the way, New York
• 8:59
  Speaker 2: lost uh population every state but three. And uh, by
• 9:05
  Speaker 2: the way, where in New York and California have in common?
• 9:08
  Speaker 1: Uh crazy socialist highest taxes in the country. Yeah, and
• 9:13
  Speaker 1: then and they're fleeing to not other blue states, obviously,
• 9:16
  Speaker 1: they're fleeing the red states.
• 9:18
  Speaker 2: Well, this is what's funny about the story. I guess
• 9:20
  Speaker 2: where they're going. They're going. Remember the old show, I mean,
• 9:22
  Speaker 2: I think you're old. Remember the old TV show about
• 9:25
  Speaker 2: the Clampe's the Beverly Yeah. Yeah, but they they got
• 9:29
  Speaker 2: their jeloppy they made they struck oil and Oklahoma. So
• 9:32
  Speaker 2: they go to Beverly Hills. We guess what now, people,
• 9:35
  Speaker 2: Beverly Hills are going to Oklahoma.
• 9:39
  Speaker 1: It's the opposite. So it's like Green Acres, the city
• 9:42
  Speaker 1: slector moves to the country.
• 9:44
  Speaker 2: So exactly.
• 9:46
  Speaker 1: Well, Steve Moore, great work, everybody, I had.
• 9:50
  Speaker 2: I had forgotten about that. Yeah, Green Acres was sort
• 9:52
  Speaker 2: of the opposite. Yeah.
• 9:55
  Speaker 1: Yeah, that was the guy that created Beverly Hillbilly's Paul Henning.
• 9:58
  Speaker 1: They came to him and said, you got anything else?
• 10:00
  Speaker 1: He goes, let's just reverse it. Let's just do the opposite,
• 10:03
  Speaker 1: and that was Eddie.
• 10:04
  Speaker 2: What was the guy's name is?
• 10:05
  Speaker 1: Eddie?
• 10:09
  Speaker 2: And yeah, what a good memory.
• 10:14
  Speaker 1: Yeah, and Eddie Albert every two seconds, Eddie.
• 10:16
  Speaker 2: I used to remember all those shows from the sixties.
• 10:19
  Speaker 2: You know, they don't make TV shows like that anymore, Mark, No.
• 10:22
  Speaker 1: But they're still on and reruns. I watch them all
• 10:24
  Speaker 1: the time. And Eddie Albert would always say, oh, for
• 10:27
  Speaker 1: Pete's sake to everybody there. That was his big phrase.
• 10:31
  Speaker 1: So Steve Moore, great stuff. As always, keep up the
• 10:33
  Speaker 1: good work. Everybody. Get his book, The Trump Economic Miracle
• 10:36
  Speaker 1: and go sign up for that daily briefing the hotline.
• 10:39
  Speaker 1: Go to Unleash Prosperity dot com. Steve Moore, great stuff,
• 10:43
  Speaker 1: Thanks for being with us.
• 10:44
  Speaker 2: Okay, Mark, have a great weekend.
• 10:46
  Speaker 1: Take care, Take care, Eddie Albert are Uh. Oh, Pat Butcher,
• 10:53
  Speaker 1: mister Haney, Pat Butcher excellent. Uh. It's a guy named
• 10:57
  Speaker 1: Paul Henning created that. He made a fortune Beverly Hill,
• 11:01
  Speaker 1: billis Green Acres. He also created Petticoat Junction made a
• 11:04
  Speaker 1: fortune anyway, don't forget. At noon today, Buck and Clay
• 11:10
  Speaker 1: will be here with a great show at three o'clock.
• 11:13
  Speaker 1: The most listened to radio show in America, Sean Hannity,
• 11:17
  Speaker 1: You got Jesse Kelly at six. If you haven't listened
• 11:19
  Speaker 1: to Jimmy Taylor, start listening nine to midnight. It is
• 11:22
  Speaker 1: the funniest, fastest paced show nine to midnight. In fact,
• 11:26
  Speaker 1: Jimmy Taylor will be with us right here in the
• 11:29
  Speaker 1: next hour. On seven to ten WR