Approaching a new record with over 2 million migrants expected to cross illegally into the country this fiscal year and schools pushing out for new woke lessons with the gender bred person. Well take that up with our panel but first, on tuesday the president signed into law something that will increase federal spending by more than 400 billion and probably a lot more but other than running up federal expenses, what exactly will this law do . Its called the Inflation Reduction Act, but as you might have noticed, democrats are struggling to justify that optimistic title. Is it misleading to call this the Inflation Reduction Act for american when is its not going to make their grocery bill cheaper or every day goods cheaper for them . Why would it . Immediately its not and we didnt say everything happened immediately. If you pass a bill fill every pothole act, voters expect you to fill every pothole. Should this be measured on how much you reduce inflation in the next few years . This bill spans out over several years. It doesnt live up to the name. They call it the Inflation Reduction Act as a marketing device. What parts of the bill will quickly work on that specifically . Next question. Gerry next question. If it doesnt cut inflation, what exactly is it going to do . Well, it does raise taxes on business but the official tax scorekeeper in Congress Says the new law results in lower after tax wages for workers up and down the income scale. Most of the new spending in the bill will fund climate programs and according to president biden, this means you have already won. Let me say from the start, with this law the American People won and the special interest lost. The American People won and the special interest lost. Lets be clear, in this historic moment, democrats sided with the American People and every single republican in congress sided with the special interest in this vote. Every single one. Gerry well, if we want to be clear about special interest, 115 billion net worth can make you pretty special in washington. Bloomburg credits one of the richest people in the world, microsoft founder bill gates lobbying senators including joe mansion for years in anticipation of a rare moment in which heavy federal spending might be secured for the clean energy transition. Gateshas invested heavily in socalled Green Energy Technology and bloomburg quotes gait in 2019 saying almost everyone came over and spent hours with me for dinner from the energy commission. Is that big energy . Maybe we should figure out what this thing is that the president keeps calling the Inflation Reduction Act and joining us to help figure it out is wall street journal columnist jason riley and the federalist Senior Editor and Founding Partner christopher bedford. Jason, first to you, the Inflation Reduction Act, the heart of this thing seems to be spending a lot of our money to push america toward less efficient, more Expensive Energy sources. How does this reduce inflation . Well, the argument that the democrats are making is sort of that it reduces inflation indirectly. What theyre saying is it reduces the budget deficit down the road and that in turn will reduce inflation. Everyone if you believe that and i find that suspect. The deficit reduction doesnt occur for another five years, james. So even the part of the bill that they say will reduce inflation will do nothing for inflation for the next half decade. Gerry and these budgets from washington that plot out benefit and more in the future, sometimes are disappointed relying on the projections. Absolutely. James christopher, can we point to anything here and say thats an inflation reducer . Maybe its silly to keep asking the question given we see many of the laws proponents now not willing to claim it anymore now that the ink ask barely dry. Taking money out of the economy might work if you didnt immediately put it back in towards your friends, which is what this does. Its wild to see the president and others talk about this as something that helps the American People over special interest. Theres essentially no more powerful or wealthy and special interest but few in washington than all of the green Energy Lobbyists in the country. Trillions of dollars go into them and theyre put upon with the people and represented by people from the United Nations and davos and ruling class of the United States and all the money is going towards them making people richer and need two weeks to slow the curve and theyre saying it we give them a couple more trillion or billion dollars and save the planet from impending doom now and those are the folks that benefit from this and healthcare and none pointblank layupses to inflation and to the point that clip you pled, democrats are super embarrassed and even cnn is wondering, couldnt we have picked a better name and its worse branding than the patriot act. James yeah, on this issue of the special interest who pushed alternative energy, maybe we shouldnt just pick on bill gates. I mean, it really is a very popular investment among the richest people in the world, bezos, michael bloomburg. This is beside sort of offending taxpayers, which it should, theres also this question if all of these well funded the best funded people in the world cant turn these things into winners, what is that telling us . That these thing technologies so called still need all of this federal help. It tells us theyre not ready for prime time. The technology isnt ready for prime time. Maybe well be there in another 20 or 30 or 40 years but right now, these renewables cannot handle the energy needs of this country. And the other thing here, james, which i dont think gets a lot of attention is that europe is much further down this word than we are right now in terms of Renewable Energy and forcing into place. Look how russia is exploiting that with regard to ukraine and the invasion. Do we want to be vulnerable in the way that europe is because of the way theyve gone headstrong down into this direction when, again, the technologies just cannot handle the energy demand. Theres an issue for Energy Security here wrapped with National Security and the in addition of being bad economics and the government picking winners and losers and this bill will not only prop up the renewable technologies, it attacks fossil fuel and it really penalizes fossil fuel companies and theres this industrial policy taking place, which is bad economics, but i worry about the National Security concerns. James christopher, seems like for most of our lives weve been hearing the low Intensity Energy sources wind and solar are just around the corner from just a few more subsidies and theyll be able to make it. Before we go, i wanted to hit the tax issue because this may be the most famous pledge that candidate biden made not to tax people under 400,000 of income. Weve now got official scorekeepers in congress saying thats its a broken pledge. I dont know how else to put it. Joe bidens basically most of his administration has been a broken pledge. He was picked out of all of the democratic competition despite showing obvious signs of decline from where we saw him over the previous 45 years because he was more moderate allegedly and someone who would get along more easily with republicans and democrats. His administration hasnt even begun to try and do that. He brought in Barack Obamas administration and pushes a hard left agendarme the things that he said no, were not doing that to his democratic colleagues hes now doing and one of them is this. Its a series of broken pledges but hes trying to get away with it with his grandfatherliness and not get the blame from the American People. Its obviously not working it youre looking at the polls on him. James up next, mike pence calling out attorney general Merrick Garland but defending fbi agents and the former Vice President has advice for the gop, thats next. I call on attorney general garland to give the American People a full accounting of the reasons why this action was necessary. James former Vice President mike pence this week calling for more transparency from the Biden Justice department but also telling fellow republicans to stop criticizing fbi agents for the raid on trumps maralago home. I also want to remind my fellow republicans, we can hold the attorney general accountable for the decision that he made without attacking a rank and file Law Enforcement personnel at the fbi. The Republican Party is the party of law and order. Our party stands with the men and women who serve on the thin blue line at the federal and state and local level. These attacks on the fbi must stop. Calls to defund the fbi are just as wrong as calls to defund the police. James speaking of law and order or lack there of, the country struggles with rise in crime on our city streets and a dwindling number of Law Enforcement officers in many jurisdictions. How much policing do americans want from local cops and from the feds . Lets take it up with our panel. Jason, the this question that mike pence is raising, these are two important strands in the Republican Party, and i think for voters generally is we like liberty, we dont like an intrusive federal government, were suspicious of central government, but we like law and order, we tend to like cops on the streets. Is there a contradiction here saying, i dont trust the fbi but i love milo cal Police Department . Well, the former Vice President seems to think there. S i would also note that he made those statements from new hampshire, james, which is not a coincidence. Hes indicating that he is interested in running for president and hes looking for a lane in the party in which to run. And in fairness to the Vice President pence, hes done this before, called out republicans he thought had gone too far in their rhetoric. Im speaking of after the russian invasion of ukraine, he called on republicans who were praising vladamir putin after he invaded ukraine. Hes done this before. Hes chided members of his own party and i agree with what hes saying. Go after the leadership of the organizations, not the rank and file, fbi agents that are doing their job. But this also goes to why its so important for the fbi and justice to be extremely transparent here. This is not just a run of the mill investigation. This is a former president. This is someone that this is an investigation that could have huge political ramifications. Donald trump could be running for president again and the Biden Administration is in charge of investigating him. I think transparency is the way to go here, and im with the vis president calling for more of it. James christopher, i guess i read it a certain way and maybe what the Vice President is basically saying if theres a problem or questions, its at the leadership of the justice department, the people that oversee the fbi as opposed to the rank and file. Theres nothing wrong with the agents on the street level. Sure, but its a strawman argument from people like mike pence and crenshaw and its intentional from them. The idea that criticizing the fbi or trying to hold them actable or transparent of raiding homes of political people is not real. Richard nixon, mr. Law and order didnt trust the fbi and wouldnt work with him when investigating the state department. Berry goldwater, mr. Law and order republican candidate couldnt trust the fbi because they bugged phones in his Campaign Office and put a spy in his Campaign Office to work for lyndon b. Johnson. Not being able to trust the fbi as as old as it is funded and the republicans have discover that had distrust and thats a good thing. For mike pence to go out and do this carefully crafted message and everything he does is carefully crafted and put himself on the side of Law Enforcement after five years of lying to the American People about donald trump, about Nuclear Secrets and working with the russians, thats just a bad place to be. Im not sure what his lane is to president. James okay, well have to leave it there. Next up the biden border crisis on a record breaking pace with immigrant illegal arrests expected to hit 2 million this year but bun of our panelists says it may turn into the solution of one of our countrys biggest problems. Well take that up next. This is xfinity rewards. Our way of showing our appreciation. With rewards of all shapes and sizes. [ cheers ] are we actually going . Yes and once in a lifetime moments. Two tickets to nascar yes find rewards like these and so many more in the xfinity app. James another sad milestone in the biden border crisis. 2 million migrant arrests are expected this fiscal year according to customs and Border Protection sources highlighting the enormous challenges of agents, officials, and communities on the southern border. Jason riley notes that the migration surge is occurring at at the same time that america is suffering from a historic worker shortage. How do we make immigration lawful and useful for america . Jason, its been frustrating for me that washington politicians who you would think would know how to craft compromises have sometime over the last few years said lets give republicans the trump wall and also pair it with, i guess, Worker Program and more legal migration, more legal pathways, legal pathways to citizenship. Yeah, immigration is a political football. You know, the democrats dont seem at all interested in securing the border. They equate with xenophobia, and i dont think that theres any appetite in the Republican Party for Going Forward on any kind of guess work or program or amnesty proposal, unless of course securing the border is part of the bill, part of the legislation. But whats driving whats going on at the border are incentives and the Biden Administration is saying dont come, the border is closed but on the other side, when people show up, a lot get to stay. That gets back to people south of the border that if you come and make it in, theres a good chance youll be able to stay. You couple that with the fact that we have a huge labor shortage in this country, and that there are plenty of Jobs Available and that Labor Force Participation is way down and youve got the recipe for disaster we see on the border right now. James isnt there a solution to allow people who want to come work in the country to do so while screening out people with ill intent whether terrorists or drug dealers, what have you . If you could possibly secure the border, the wealthiest people in the country have benefited from these sort of things, whether its slavery to work in the field or iris and chinese to build railroads and now they wont because of incentive structure weve set up with the government and the massive problems we have. The United States problems dealing with this with the inability to get people off the couch to get people to work james christopher, comparing employers today to slave holders seems a little extreme, doesnt it . Well, not if youre just talking about the idea that the wealthiest in our country have benefited from labor that comes outside of the country since before its founding. Theyve use that had to their great benefit for sentures and centuries and of course comparing human slavery to this right now is not exactly the same. Theyve changed but the amount of slavery going on on the border and the reality of the border is its possibly close to that, the amount of rape and violence. The fact this is not the story of fivel goes West Crossing the rio grand for a better life and its a criminal operation run by cartels from start to finish and if you get over the border without the cartels help they might hunt you and bring you back. That kind of level of crime and human slavery and rape and trafficking and drugs that are coming across the border, that is comparable to any of the crimes in history. James we have to leave it there and hopefully can take it up at another time. Schools ditching traditional books and bringing in woke gender identity lessons and tell you about the genderbred person next. James School Districts like new port mason, california, are introducing lessons with the genderbred identity person as part of the Sex Education to teach teens act subjects like gender transitioning while in high school. Christopher, maybe theres an argument to take that time on reading, math . I dont know. The things the American People could benefited from, maybe science, technology, engineering, mathematics and the things that would make us competitive with the rest of the planet and make us comfortable in our own bodies. This push is cultlike. This push for constant transgender and sexual education of children, at least these are high schoolers, give them credit for that as opposed to kindergarteners, first and second graders, but this push is cultlike and turning people off and parents and folks and the same folks turned off maybe by Donald Trumps tweets or the tone of the country are also seriously turned off by this. The federalist is reporting out in virginia, people that voted for barack obama and joe biden were super unhappy with the level of sexualization in the Education System that was going on as well as some of the crazy racial theories being taught in the schools and its activating them politically. Theyre held captive by some aspects of the Teachers Union that put the Democratic Party on the side of shutting down schools for learning and when theyre open pushing things like this trying to defend it. Its unenviable political position. James okay, jason, i want to give you a chance to comment on genderbred. Im with you and our largest School Districts, most of our students cannot read and do math at grade level. Can we focus on that before we turn that into social justice warriors james that sounds like a plan. My thankers to jason riley and christopher bedford. Well be back next week with more indepth interviews on the wall street journal at large. Thanks for joining us
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