CLAY: Significant news in the House, Buck. They’re trying to pass the Bernie budget, the Joe Biden budget, whatever you want to say, the Build Back Better, inflation-laden disaster of a bill. They’re supposed to get the Congressional Budget Office scoring — in other words, what this costs — today, and they’re gonna try to push it through tonight in the House.

BUCK: They’ve been telling you that it will add nothing to the debt and that it is paid for.

CLAY: All lies.

BUCK: My friends, that is what would call in reality land “a lie,” and one of the big ways that they try to get there… Remember, it has to be a lie that they at least think they can defend, right? It has to be something where they’ll make a case for their side. If it’s too obvious a falsehood, then that’s contrary to their purposes. What they’re doing is creating all these programs.

They’re pushing all this money into things and then they’re essentially putting in a “sunset” provision. Unless we reauthorize the spending for universal pre-K or whatever it might be, unless we reauthorize it, it doesn’t necessarily continue. We all know once a government program is created —

CLAY: It never dies.

BUCK: — it continues, and so they pretend that it will only be let’s say four or five years of spending in an outlay when it’s gonna be forever essentially. But the budget is gonna be over a 10-year period is how they score this, and so they’re just playing accounting games. They’re playing tricks with the numbers to make it seem at a time of rising inflation like they aren’t doing the one thing… Never mind college-level Econ 101. I think if you ask a lot of high school kids, “What will happen if you print more money and there’s inflation?” A lot of them are gonna be like, “You’re gonna cause more inflation.”

CLAY: I talked about this, Buck. You probably remember this when you were a kid… I remember seeing stories about the national debt when I was a kid and I remember thinking, “Well, how can the government ever be in debt if they can always just print more money,” and when you’re a kid you have a childlike understanding of economics.

That’s the understanding that the Democratic Party has right now. Buck, even some of the adults in the Democratic Party who used to serve under Obama are now coming out and saying, “You guys are mad men in thinking that you can add this many trillions of dollars and there aren’t gonna be major inflationary consequences.”

BUCK: The thing about inflation is that people feel it and they know it and it’s real. Oh, did you see? Oh, wait, wait, wait! I got an inflation thing I want to bring to everyone’s attention. I got all excited and I almost left this out. The New York Times is supposed to be a place where smart people work.

CLAY: Oh yeah. Yeah, I saw it.

BUCK: As we know, they came after the Buckster, and then they had to get schooled. They’re gonna come after the Clayster soon.

CLAY: Oh, no doubt. No doubt it’s gonna happen.

BUCK: Just waiting for that Clay Travis hit piece to come out. But don’t worry. We’re in the bunker. We’ll take down the commies together. But there’s a New York Times writer, Sarah Jeong, who tweeted out… This is amazing. The New York Times is supposed to be where all the smart people all work. She tweeted out, quote:

all the stuff you see about inflation in the news is driven by rich people flipping their shit because their parasitic assets aren’t doing as well as they’d like and they’re scared that unemployment benefits + stimmy checks + 15 minimum wage + labor shortage is why ~jmt~

— sarah jeong (@sarahjeong) November 17, 2021

BUCK: Okay. Let me just say, that’s the exact opposite of what —

CLAY: It’s so bad.

BUCK: It’s amazing because people that have assets, if your money in the stock market, look where the stock market is. If you have a home, look where your home price is right now. Inflation helps those who already own! She had the exact reverse understanding of who’s being hurt by this. This is who works at these places, folks. They’re not smart! They’ve checked boxes and they’re libs.

CLAY: It’s basic economics, Buck. I retweeted and responded to that because I saw that yesterday right after our show ended and the idea that you would think that inflation harms rich people more than it harms poor people is so insanely dumb that you lack a fundamental understanding of economics. And basically, the easy way…

You pointed out the rich assets as they increase in value. But simple fact is, the more money you have to spend of your take-home pay on goods, the more you are impacted. Inflation is a default tax on the poor. Not understanding that is embarrassing for someone who is in a position like that.

BREAK TRANSCRIPT

BUCK: Clay and Buck show continuing here trying to tell folks to get ready for the inflation nation situation that is gonna be unfolding next year because of the Biden administration. Sorry. Now it’s actually more rhymes than I intended. The Biden administration is pushing this stuff despite what all common-sense, historical knowledge, math would tell them they should do.

If you’re wondering, and here’s Joe Biden still with the spending trillions of dollars — the government is spending trillions of dollars — after already spending 1.9 trillion earlier this year, after spending trillions in 2020 to pay people to stay home, isn’t gonna make inflation worse ’cause (impression), “No joke,” or whatever Biden says.

BIDEN: (echo) Two of the leading rating agencies on Wall Street confirmed today — not a liberal think tank; two Wall Street outfits — that the economic proposals we put forward for the nation — the infrastructure law we just signed and the Build Back Better plan are being considered this week in Congress — will not add to inflationary pressures in the economy.

CROWD: (applause)

BIDEN: (screams) The one! (sputters) Here’s what one under the agencies said, and I quote. “The bills do not add inflation pressures.” Let me repeat that: “Do not add inflation pressures.” The reason? Because the policies I propose, quote, “help lift longtime economic growth by strong report activity, labor force growth as well as taking the edge off inflation.”

BUCK: Joe Biden has invented, Clay, a chocolate cupcake that never runs out, that tastes more delicious than anything else you ever eaten and doesn’t actually have any calories. There you go! Endless amounts of eating chocolate cupcakes with no downside and you never run out. You can believe that and then you can believe what Biden says because it’s magical thinking.

CLAY: It’s magical thinking, Buck, and it’s not even supported by the Obama Democratic regime, the one that he was the vice president for. Their economic advisers are coming out and saying, “It’s nonsensical to expect that you can pour trillions of dollars into the economy and that the economy is not going to get overheated,” and this just comes back to one of our consensus — and I would say consistent — storylines here.

The Democratic Party doesn’t have people who understand basic business anymore. They have abandoned the idea of capitalism in much of the Democratic leadership, and they have if fantastical line of thinking that they can spend money as much as they want, and they can go into debt as much as they want, and they can flood this country with cheap dollars and that it’s not going to increase the overall cost of goods.

When every single person listening us right now who has to fill up their car, when every single person out there who’s going to be going out to buy things for Thanksgiving, is seeing — literally coming out of their wallet — monster increases in what things are costing. And, by the way, that default tax on the poor is actually leading to a net pay decrease for so many workers out there.

BUCK: And certainly, no doubt still recovering from her extensive Indigenous Peoples’ Day celebration, Elizabeth Warren is out there —

CLAY: Pocahontas.

BUCK: — out there talking about increased gas prices, and this is what she says, and she’s supposed to be one of the smart ones among the Democrats.

WARREN: We know exactly who the oil companies, what the oil companies pay attention to, what is their number one priority: Profit. And so think about it this way. If we really… This were just ordinary inflation, we might see prices go up. But prices at the pump have gone up. Why? Well, let me… let me give you a hint. Uh, Chevron, Exxon have doubled their profits. This isn’t about inflation. This is about price gouging for these guys!

BUCK: (impression) “My name is Elizabeth Warren and I don’t know how the market works. I don’t know how the oil industry works, but I’m a stupid person’s idea of what a smart person sounds like.”

CLAY: First of all, Pocahontas, I think, is the funniest nickname that Trump ever gave any candidate. That literally makes me laugh every time he would say Pocahontas, and look, of course the oil companies’ goal is to make money. Their for-profit businesses. This is not a revolutionary concept. The reason why oil prices are going up to a large extent is because the Democratic Party destroyed the energy independence that we had created which gave us more bargaining power with OPEC because OPEC couldn’t control completely all of the global price of oil when the United States was creating and producing massive amounts of energy.

When Biden came in, they immediately curtailed — and they’re trying to curtail it even more, creating more pricing power for OPEC and again the overall price increases everywhere. I believe gas prices are up 50% over last year at this exact same time, but that’s not unique in America. Many prices are up, and that’s significant and major.

BUCK: Democrats are still worried about this, too, because historically people — a lot of people who vote — really don’t like high gas prices.

CLAY: No doubt.

BUCK: It’s one of these things where they can tell you as much as they want, “Oh, but, you know, we’re doing such a great job and we’ve made millions of jobs,” like they’re just creating jobs in some job factory somewhere, right, where they’re just rolling them off the assembly line as if that’s Joe Biden’s, in some way, purview. The reality is people are seeing the prices.

They are seeing the costs of filling up their car, for filling up a tank of gas. And everything about this the Democrat Party is ultra-hostile toward fossil fuels now. They’ve really jumped the shark on this one. They’ve gone completely nutso, which is why they talk about the need to treat climate change as an urgent national security emergency.

And they’re hoping that, I think, some of the complacence and authoritarianism of covid will spill over into their climate agenda stuff. It’s a big part of the Build Back Better agenda, by the way. A lot of that money going toward the imaginary problem of the world ending because of CO2 emissions.