CLAY: Odds are you’re probably better at your job than Joe Biden is at his no matter what you do for a living, and that is where we begin today. A new high in inflation in the Biden regime — 7% — announced early this morning. That is the highest since 1982. We also have reaction to the speech that Joe Biden gave in the state of Georgia, and a question that is lingering out there: What has Biden done well?

BUCK: It’s amazing, Clay, to see how Joe Biden at this stage has already transferred from the guy who is supposed to be uniting the country. There’s been this massive transition of the initial promise of Joe Biden, and that is that he was supposed to be a moderate kind of bulwark against the craziest on the left. Now he’s running around making references to clearly tie Republicans to George Wallace, to Jefferson Davis to… It’s absolutely nuts what’s going on, and it just goes to show you it was all a fraud. This notion of Cuddly Old Joe was a fraud.

CLAY: There’s no doubt. Total fraud. And I believe we have a cut to your point. Jefferson Davis? This is how far back Joe Biden is going now to try to make these historical analogies. Listen to what he said yesterday in Georgia.

BIDEN: To protect our democracy, I support changing the Senate rules whichever way they need to be changed to prevent a minority of senators from blocking action on voting rights! So I ask every elected official in America, “How do you want to be remembered? Do you want to be on the side — the side of Dr. King or George Wallace? Do you want to be on the side of John Lewis or Bull Connor? Do you want to be on the side of Abraham Lincoln or Jefferson Davis?” This is the moment to decide, to defend or elections, to defend our democracy!

CLAY: Just crazy.

BUCK: Clay, here you have a guy who is going along with this Democrat pretense that it’s the 1960s and they’re the good guys. That’s essentially what this is. They’ve created this narrative of, “We’re in a new civil rights movement.” Meanwhile, these different states where they say there’s voter suppression, and the data show all-time high African-American turnout.

For example, in the Carolinas or you look at what’s going on in Georgia right now, but they claim that there’s a Republican claim of racist voter suppression. They throw everything in together now with the “insurrection” is somehow tied to the assault on our democracy which then somehow turns into, “To protect our democracy, we need ballot harvesting and no voter ID.” That’s really what this is all about. Change the election rules at the federal level, ram it down all the states’ throats so that they can win elections that they would otherwise lose. That’s what this really means.

CLAY: I think the panic that sets in in the aftermath of 2020 was, Buck, they threw everything they could at Donald Trump. They had Twitter and Facebook suppressing actual news. They had all sorts of brand-new rules because of the pandemic for mail voting, for absentee voting. And even with all those changes, Buck, they won by 20,000 votes. People, change 20,000 of their opinions, right? 10,000 voters in Georgia, 10,000 voters in Arizona, 20,000 voters in Wisconsin, and the election is flipped.

So if 20,000 people change their mind — that’s basically one NHL or one NBA arena — in a country that has 150 million plus voting. That’s how close they were to losing even with an election taking place in the middle of covid. And to me this speech that Biden gave in Georgia yesterday represents a fundamental inability to figure out what he’s going to be able to do even before he loses his majority in the House and in the Senate.

Because, Buck, the votes are not there even if they needed 50 votes because already Manchin and Sinema have said they’re not gonna do it. You’ve got Shaheen in New Hampshire who doesn’t really want to change the rules. You’ve got Montana’s senator — Baucus, I believe — who doesn’t want to change the rules, and Mark Kelly (who is the other Senator in Arizona) doesn’t really want to change the rules either. So you’ve got at least four or five Democrats that are opposed to changing the rule on the filibuster as well.

BUCK: Right. So it’s not even just an issue of do they have the votes for this legislation — and there are different versions of it, right? There is the Freedom to Vote Act, which is the huge federalization of elections or the For the People Act, essentially two versions of the same thing with different titles. Then there’s the smaller John Lewis Voting Rights Act, which is the one they’re talking about where they’re very much focusing in on this.

This is the 1960s all over again, this is about civil rights eras — and it’s actually about, you know, preclearance for states going to the federal government before they could even move a polling place because of what had been the 1970s-based restrictions, right, that they used for preclearance before, that got struck down by the Supreme Court. So now they want to reinstitute that through legislation, right?

They changed what was in the Voting Rights Act, because it didn’t make sense anymore. But, Clay, to your point about this — we’re getting all down deep into this analysis of it — this is really just a “Republicans are racist” campaign. That’s it. They’re not gonna change the filibuster. It’s not gonna happen. So they want to give big speeches where it’s “Republicans are racist” to get base turnout in the midterms for the Democrat.

CLAY: And I don’t even think that works anymore. Maybe I’m totally wrong. Maybe there is a large segment of the population that is going to turn their head the minute that somebody says “everything is racist” which is basically the foundation right now of the entire Democratic Party. But I think we’re at a “boy who cried wolf” scenario, Buck, where when you yell it so many times, and we’ve had so many clear, nonracial-related issues…

Whether it’s Jussie Smollett, whether it’s a different rate crime that has been blown up by the media and then in your local jurisdictions at a college or a high school; the investigation actually occurs and it’s not actually a hate crime. I think the Democrats have gotten to the “boy who cried wolf” scenario where screaming “everything is racist” really just draws attention to the fact that they don’t have any underlying plan here, and look.

We don’t think Build Back Better can get passed. We know that their votes are not there to change the filibuster. What is Congress going to do with Biden for the rest of this year? Because we know by May or June, they’re gonna shut down effectively and let everybody go home and campaign. Twenty-six Democrats have already decided they’re not gonna run for reelection, which is a strong sign in the House that they anticipate that they’re gonna get walloped there.

I’m at a loss, because we talk about this existential question. It’s a big-picture question. What can Biden point to and say is better than a year ago when he took over, Buck? And the more I think about it, the only thing I think he can argue is that the stock market is up. But that’s really a function of just pouring trillions of dollars into the marketplace.

BUCK: Everyone understands that right now, if you want $100 in the bank and you leave it there for a year, even in a high-yield savings account, you’re losing money every year.

CLAY: You’re losing 7%.

BUCK: So this is why people are piling money and money and more money into the stock market and ETFs and mutual funds, because otherwise — forget about yield, you’re actually just trying to keep even with inflation right now.

CLAY: Keep above water.

BUCK: If someone could guarantee you 7% a year… Bernie Madoff, just to keep this in context, was guaranteeing everybody, as we know, based on a Ponzi scheme, 10% a year. Just think about that, every year 10%, every year 10%. You’re losing 7% now just based upon inflation, and this is the Biden economy that we’re dealing with — and, Clay, there’s also so much of this that’s just cause and effect.

People should remember now who was pushing for defund the police, the undermining of law enforcement, and who supports progressive prosecutors in major cities? The Democrat Party. Who wanted to pay people as long as possible, as often as possible, as many of them as they could all across the country to stay home while some people were working during covid?

There are a lot of other people being told to stay home. As we know, the whole stay-home thing was a terrible idea. But, you know, they piled all this money up that they were spending, trillions and trillions of dollars in additional spending, and we have inflation. You look at all these decisions that have been made by the Biden regime and the Democrats around him.

I think we have to call it “the regime” because it really is the advisors. You know, the mayor of the palace, so to speak, in the White House is making a lot of calls here, whether we’re talking about Ron Klein or whomever. And to your point about what can they point to that actually it looks like it’s some kind of a success? I posed this to you the other day. I’m like, Clay, you’re a super adept guy. I would want you doing crisis comms for me more than pretty much anybody else I know. There’s no “there” there. So now what do we have? Republicans are racist.

CLAY: I sat around and was thinking about this this morning when the number came out at 7% — and I always think this is instructive, by the way. This is good advice no matter what you do for a living. Pretend you’re the boss and you have to make the decision yourself. Even if you’re not making the decision yourself, it’s good to put yourself in those shoes and go through the mental exercises of how the boss is going to reach a decision.

And right now — whether we like it or not — the Biden regime, as Buck said, is the boss of the country. What would you be pointing to and say, “Boy. America is lucky we were here over the last year because of Biden. I can look at China, but China is almost entirely — to Biden’s credit, small measure of credit. All he’s done is keep most of Donald Trump’s policies in place for China, and then I look…

I guess you can look at the stock market and say the stock market is up. But other than that, the border, murder rates, inflation at a 40-year high, nearly. When you consider what’s going on with the supply chain crisis and the inability of people to get, oftentimes, what they’re trying to get inside of the stores. When you look at covid hospitalizations set a new high yesterday. They’re likely to set another new high today.

Covid cases are at a new high. I just challenge you. This is the existential, larger picture question that gets asked many times in elections. It really cuts to the nitty-gritty of it. “Are you better off today than you were a year ago?” I think there are very few people in America that can say, “Hey, you know what? Everything’s better in this country now because of Joe Biden.” I don’t think there’s anything he can argue, and that’s why he’s focused on chasing windmills in some way trying to label the Republicans as racist because they won’t change voting laws.

BUCK: I like the Don Quixote reference, by the way, for the folks at home.