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Numbers and the fact that the fed is going to continue to raise rates, the fed is not going to stop and lower rates as we previously stop. the cost to service our national debt, the cost for companies to service their debt, that creates a spiral situation where you start to see layoffs and you start to see the economy slow. that hurts the american people, and this is a result of inflation never seen before like this, 7.1% under this administration. your thoughts, sir. >> yeah. we are in challenging times, and it's the double whammy of the monetary policy and the fiscal policy coming out of was...
Horrible policies that have come forward over the course of the last two years here ino washington, d.c.rg the attacks on energy we have seen under the biden administration. on day one the biden administration killed thepe keystone xlil pipeline.sh what we have not seen as a shift in tone from this administration. they will go to saudi arabia and bags for oil.if we need to unleash americanes denergy. we cant bringho prices down he, home. >> the higghh oil and gas price, high prices to heat your home this winter, people are really suffering as a result of that. when the fed raises rates, they w...
Course of the last go years here in washington, d.c -- two years here in washington d.c. not only the spending, but also the attacks on energy that we've seen under the biden administration. we've bot to remember on day one the biden administration killed the keystone xl pipeline. hay continue a war on energy to this day. and what we haven't seen is a shift in tone from this administration. sure, they'll go to saudi arabia and beg for oil, they'll talk with venezuela. but what we need to do is unleash american energy. and if we do that, we can bring prices down here at home. jackie: yeah. and ...
Driving the economy also, edward, was american spending. credit card balances are now climbing and a pull-back is expected for spending in 2023. that drop could possibly have recession implications some say. as many are ready to close the book on 2022's world market ride, there's some lingering factors that cannot be ignored. inflation is still high at 7.1% over a year ago. that is bringing the expectation or more interest rate hikes. edward? >> edward: thanks, lydia hu. back to the breaking news now out of moscow, idaho. i want to get back to ted williams and chris swecker standing by and bri...