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Economic reality that is in front of all of our faces. that reality is, david, the biden administration last year basically made -- tried to make a deal with the inflation devil. and that deal was this. they put through trillions of dollars in stimulus spending last year above and beyond what was already being spent by the federal government. their argument was that because of pandemic, the spending was necessary. the fact is, they injected a lot of money into the economy. and when you do that, most economists understand you are running the risk of as an inflationary spike. that spike is here ...

>> it is time now for hits and misses of the week, kim first to you. >> david a hit to house minority leader kevin mccarthy and congressman jim jordan for refusing to just roll over to the demands of nancy pelosi's generous six committee. i was initially hopeful this committee would give us the facts of the day. but it is increasingly looking very political it's increasingly willing to abuse its powers and break institutional norms. if it is going to take the unprecedented step of demanding fellow members testify in front of it should have to justify its powers. >> greatly one 100% thank you v...

Know what happens when presidents are in denial. this is what happened in the 1970s. they were in charge, they flooded the economy with a lot of money inflation started going up, they blamed everyone, pointed fingers at big business. they blamed supply chain is this all sound familiar? what the democrats really ought to be worried about is the end of that playbook was obviously a voting public that got completely sick of it. electable republicans and ultimately put ronald reagan in office. david: kyle, beyond the blame game they came up with the regulations they were proposing for the meat ind...

Band-aids, jawboning meat producers, shipping producers it never works. the inflation they create is real. they are now going to have to deal the political consequences. david: very close to double-digit inflation. that eventually is passed on to retailers which is passed on consumers meeting all of our prices are going higher. but the white house is in denial but listen to the what the president said the day the numbers came out on wednesday per the president put a statement saying we are making progress and slowing the rate of price increases. kind of scary when you see denial like that. >> ...

Issues the december release stack out to me transportation services and shelter were up more than 4%. your shelter are not stuck in the port of l.a. somewhere trying to get to you. i think there's more coming kevin hassett another economist a guy who worked for president trump so other side of the aisle said he's worried were going to see double-digit inflation in 2022. if we had that going into the november elections i think biden has a huge problem on his hands. >> dan, kyle just alluded to it. but empty shelves the worst of both worlds not only higher prices but fewer goods. of course, it c...