Announcer: [Music playing] This is Trish Regan’s American Consequences – a view of things you won’t get anywhere else. Trish talks the Fed, the White House, and the world like no one [else]. The biggest guests and best analysis starts right now. Here’s Trish Regan.
Trish Regan: The president back in the White House, isolating their, “My gosh. How dare he get better,” some of the media members are actually mad about this. We’re going to talk to Sebastian Gorka coming up. He has a lot on his plate as he looks towards putting together some kind of bipartisan stimulus plan so that we can get our economy back up and running. Stephen Moore is going to join us on that.
And what’s going to happen on November 3rd? Just exactly how is the campaign faring? What’s it going to mean for your pocketbook if, in fact, there’s a democratic sweep? David Bossie says, “No way. That’s not happening.” He’s joining us as well. I want to begin today… Welcome everyone to American Consequences with Trish Regan. I want to begin today with my dear friend, Sebastian Gorka, who I should point out is Deputy assistant – was Deputy Assistant – to the President.
He’s part of the National Security Education Board. He’s the host of America First on the Salem Radio Network. And, importantly, he’s a contributor to American Consequences. You can read a lot of his wonderful writing there. Of course, his additional great books and all that good stuff. Seb, you are a machine in terms of all the content you’re putting out, and I just wanted to give a plug for it because people should read a lot of this. But before we get to that, tell me what your sense is of how the President’s faring right now.
Sebastian Gorka: Well, thank you for that. But you have been crushing it with the amount of content you put out there – especially as I was saying on show, I was up until 3:00 AM after the first Presidential debate doing some TV hits with UK. And there you were. I switched on YouTube after that, and there you were giving a blow-by-blow analysis. So it’s very exciting to see you at trishintel.com and American Consequences.
So bravo to you. Look. I’ve been tweeting up a storm myself since yesterday and all through this morning. The President has shown the world what leadership looks like. I worked for him in the White House. I advised him when he was plain-old Mr. Trump. Now I’m on one of his Pentagon boards. But even I am surprised by the rapidity and the speed with which the 74-year-old man is back in the Oval Office. He’s a force of nature. He’s like a steam locomotive.
And that video that he recorded after he landed on the south lawn yesterday was spot on. He said, “We mustn’t let these Chinese export the Wuhan flu to the COVID-19. We mustn’t let it dominate our lives.” He is in the key demographic in terms of his age. And three days after going into Walter-Reed, he’s out and he’s back in the White House. So this is what you expect. This is statesmanship. This is what leadership looks like. And the mainstream legacy media’s response is truly disgusting, Trish.
Trish Regan: Well, I mean, it’s like I said. I mean, “How dare he?” Right? “How dare he get better?” And this is somebody who’s damned if he does, damned if he doesn’t. Right? Just doesn’t matter. They’re never going to give him a break. You can Follow [Sebastian] @SebGorka. I’m talking about Sebastian Gorka who’s a former Deputy Assistant for the President and a specialist in national security issues. Let me ask you, speaking of national security. I mean, secret service. I mean, I get it – that the President is super aggressive in terms of his work ethic. Right? He just wants to go, go, go, go, go. Right?
But how’s the secret service managing this, and do you think they’re kind of like, “Gee. You know” – and I’m not talking about the car ride that the media got so upset about. Because I’m like, “Guys, listen. I mean, secret service. They’re with him all the time.” Right? They’re with him in the hospital room. They’re with him in the hospital office. I mean, you know, it’s sort of neither here nor there whether they’re in the car or whether they’re in the hospital room. But I am sort of…and you and I have sort of talked about this. I’m sort of amazed that he got this in the first place, right? This is the leader of the free world. Couldn’t they protect him more?
Sebastian Gorka: No. Absolutely not. I mean, this isn’t a man like Joe Biden who sits in his basement in the – this is the President. He’s the most active President we’ve had probably since Teddy Roosevelt. It was probably inevitable that he or somebody in the first family would catch the coronavirus. This is a man who meets or is in the proximity of thousands of people literally every single week when he’s on the road, when he’s doing his rallies. And this isn’t a dictatorship. You can’t control the movements of his staff once they leave the building. And already, we know that the tests aren’t 100%. You can be carrying the virus and then not have fully incubated for it to actually show up on a rapid test – which is what the White House uses.
So, no. The issue isn’t how he got it. The issue is the way he responded to it. He didn’t hide. He didn’t take weeks off. You know, I said it when I was at Walter Reed on Sunday. I was interviewed. Donald Trump achieved more, did more work from his suite at Walter Reed in 72 hours for all Americans than Joe Biden did in the last 47 years. So, no. You know, this is probably a good thing and, you know, I’m just looking for the moment that they declare that the President’s antibodies are being used to develop the next treatment for the coronavirus. Because then, that would really cause a melt down.
Trish Regan: Seb. I mean, should he take a pause at all? I mean, my gosh. You know, I admire the work ethic. But at the same time, he also could get a sympathy play. I’ve been sort of joking that the poor man was coming down with a deadly virus, and he had to do a debate with Chris Wallace and Joe Biden. And so, can you blame him if he got a little testy? Do you think that there’s, politically speaking, any value in sort of saying, “Yeah. You know, it was kind of a rough week. But we just have to keep moving forward?”
Sebastian Gorka: He can’t take a break. Look. I know him personally. He won’t take a break. This is a man who on average slept between two and three hours in the last four years. It would be more damaging for his spirit if he were forced to slow down. And he won’t, and he won’t let those around him slow him down because he understands the stakes involved. We are 27 days away from the most consequential election of our lifetimes whether you’re 18 years old or 108 years old. We have a very stark choice between socialism and liberty.
And as such, we have to double down. We have to act as if we’re 20 points behind our rivals. The President will… things will be a little bit different because the White House is relatively empty in comparison to normal periods during the year. But he will keep on working. He’ll keep on tweeting. He’ll keep on doing the video announcements. And in just over a week, he will be on that stage with Biden to debate him in front of that town hall with Steve Scully as the moderator.
Trish Regan: With the former intern from Biden. I mean, it’s kind of amazing they can’t find people that are a little more neutral in the mainstream media to actually moderate these things. The media’s treatment… I know you’ve pounded this so hard because you really just see it as entirely unfair – even in the scope of this, you’d think people might have a little more sympathy. But no.
Sebastian Gorka: No. It’s gotten worse. I had the great Joe Concha on my show, America First yesterday. He’s probably one of the best media reporters out there. And every time, I ask him the same question. “Joe, could it get any worse?” And yesterday, he said, “No. They have demonstrated legacy media – what we used to call in the White House the fake news industrial complex – have demonstrated that there is no bottom.”
This man who everybody should be cheering is back in the White House with that salute from the balcony last night to the marines and Marine One, reassuring not only the American people… He also reassured our allies and he sent a very powerful message to our enemies – including China – that the Commander and Chief is back at the helm of the most powerful nation in the world. The media are calling him a fascist, a dictator, a Mussolini. They are completely, morally bank-robbed, Trish.
Trish Regan: Well, and selfish. I mean, they’re trying to accuse him of being selfish because he’s back in the White House. But we should point out he’s isolating there. I mean, aside from secret service that – or maybe if there’s a TV camera; in that case, on the balcony who’s 30 feet away from him. But it is important, Seb. I mean, this has been my concern all along because it’s almost like they were… I mean, I hate to say this. But you kind of felt like they were cheering like, “Oh. You know, he got what he deserved because he wound up with coronavirus.”
Sebastian Gorka: Well, you’re not – hang on. Hang on. Hang on, Trish. You’re not hypothesizing. They did it on Saturday Night Live with the opening skit. They were rooting for the virus, and they thought that was funny. And let me be clear because I know these guys and gals. I love the secret service, uniform division, or plain clothes. These are people who, when they sign on the dotted line to join the secret service, their job description literally includes dying for the principle, dying for the President.
There’s a reason colloquially that they’re called “the bullet catchers.” Remember Agent Ryan when Hinkley shot at the President. Agent Ryan literally jumped in front of the bullets to catch them so the President could be whisked away in The Beast. So the idea that somehow this is not part of the job description is insane. And of course, let’s not forget the other thing. The First Lady’s been in the White House all along. She’s tested positive. So the idea that, “The President is infecting people recklessly” – no. He’s going home to be with the First Lady who also happens to be in the White House.
Trish Regan: That’s a really good point. No. That’s a really good point, because they’ve kind of left that alone, but they go completely after him. I mean, not that she gets a free pass. I thought it was pretty awful that CNN kept running those tapes that were recorded by her so-called friend, right, at one time… Moments of privacy and confidence. And this friend is recording them, and then CNN as she’s diagnosed with COVID is playing these tapes in a loop. You know, look. He can’t win with them. It is what it is. My question to you, though – and I’m going to talk about this throughout the show – is, with the polls down 14 points, what happens November 3rd?
Sebastian Gorka: There’s two scenarios I see right now. The first one is an overwhelming landslide. If you look at the Hispanic response to the first debate, if you look at the popularity figures in the black community, we could see the silent majority of a 2016 grown to a size that, by the morning of the 4th, it doesn’t matter how many mail-in ballots are left to count, he has swept the board, and he’s assuredly achieved more than 270 electoral college votes. You know, if we do our part – and God willing – that’s how he gets a second term.
The other likelihood, or the other scenario, is that because we’ve seen this absolutely insane decision by Democratic galvanists to mail out more than 80 million mail-in ballots on… You know, this is the – these are the lies of the media. These aren’t absentee ballots. These aren’t ballots that people have requested because they’re out of state, they’re sick or whatever. These are un-bid mail-in ballots. We’ve never done this. We’ve never sent out 80 million. And then, the other scenario is that – coming the morning of the 4th, we just haven’t managed to count there. There is no clear 270 electoral college vote mandates for either candidate.
And then what happens? We know the DNC has already hired thousands of lawyers, Trish. They’re going to – they’re going to jam up the election for months and months and months. That’s why it’s essential to get Amy Coney Barrett appointed… to get her appointed to the Supreme Court as soon as possible to stop any… for deadlocks. And here’s the bad news. According to the U.S. statue and Constitution, if we do not have a clear mandate for either candidate by inauguration date – by January 20th – then the in-office ex-official Speaker of the House becomes acting President, which means Nancy Pelosi, becomes acting President, Trish.
Trish Regan: Great. So let that sink in, everyone. Right? If in fact, Nancy Pelosi becomes acting President, then you can be assured those ballots are going to be counted as she sees fit. Right? And she’ll [laughs] sway things her way. Listen. I’ve never been so worried about our country and our government. I’ve never doubted, right, the integrity of our election and the whole process. But I have a feeling we are heading straight for Banana Republic territory. And I tell you, we only have ourselves to blame. You look at what the Left is saying. You look at Hilary Clinton.
You know, back in August, Seb, Hilary Clinton going on TV with her former communications head and saying that he should not – Joe Biden should not concede no matter what. We got some real problems. But you know what? Seb is all over them, Dr. G. on America First, on the Salem Radio Network. You can catch him every single day. You can catch him at sebgorka.com and American Consequences as well. And Follow him on Twitter @SebGorka. Seb, it’s really good to talk to you.
Sebastian Gorka: God bless you in this and thank you, Trish.
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Trish Regan: So the question now is, “What are the political consequences of this? How much does this affect the campaign?” Here we are just less than 30 days away from the election. It’s right around the corner, and this happens. My gosh. I mean, the hits just keep on coming. So again. What does it mean for November 3rd? For that, I am joined by the wonderful David Bossie. President of Citizens United Senior Advisor to the Trump 2020 Campaign – a Presidential appointee on the commission, on Presidential scholars and author of the new book, Trump: America First, which is a book he wrote with former Trump aid Corey Lewandowsky. It’s so good to talk to you, David, and it’s good to get your insight. Because I know you’re in the trenches, and you guys are trying to figure all this out. What can you tell us?
David Bossie: Yeah. Thanks for having me, Trish. It’s great to be with you. You know, this is a – as you pointed out in your lead-in here – you know, we just keep getting hit with one thing after another. And, you know, whether it’s…you think about it, it’s only been one week since the New York Times slandered this President with this ridiculous tax story. I mean, it’s only been a week and we forgot all about it because these lunatics at The New York Times who hate this President more than they love the country are willing to do or say anything to harm him, to defeat him, to destroy him.
And so, you know, then they’re onto the debate, and then they’re onto the President getting tested positive for corona[virus] and being in the hospital. This is an unbelievable, you know, time that we live in. But we’re going to win, and we’re going to win because the issues are on the President’s side – meaning a majority of the American people want lower taxes, not higher taxes. They want law and order as opposed to defunding the police and anarchy in the streets. They want Board of Security instead of open borders. These are the important issues of the day.
And this President now having contracted and survived coronavirus understands the disease even better than before. And he knows what it takes. He knows how hard it is on you. As a person, he gets it. And he also wants everybody to be careful. So on one hand, he created the greatest public/private partnership ever since World War II in order to get those ventilators, in order to get the PPE and in order to get the therapeutics. And now, we’re on the cusp of having a vaccine for this.
And so, he wants everybody in the meantime to be careful and wear a mask and socially distance and wash our hands and do all of those things that I, to be honest with you – after six months of this lockdown, and I think people listening to this probably agree with me – you get a little lackadaisical. I found myself, “Hey. I didn’t wash my hands as much today as I did yesterday. I’m taking for granted – I got somebody in my office. I let them get a little closer to me than I should’ve.” It’s just, you get – it’s human nature to get kind of in this, you know… we’re so tired of it, but you get into this rut. And I think that this diagnosis of the President snapped me back. And I think it probably snapped a lot of people back, and I think it’ll help a lot of people and save a lot of people that the President makes you focus on your own personal welfare and health.
Trish Regan: No. I mean, for sure. I think it’s a big wakeup call because people – and people are tired of it. And, you know, look. I keep maintaining that it is an infringement, if you would, on our individual rights because we need to be able to function as individuals and not deal with these crazy lockdowns. But simultaneously, as an individual you have a responsibility – right – to protect yourself. Let me turn, though, to the issues-
David Bossie: And your family and friends. I mean, it is what it… right? I mean, we can’t get away from it. We can’t fool ourselves.
Trish Regan: Yeah. You know, but what this campaign has evolved into if you read the mainstream media – and it’s really kind of shocking and sort of disgusting… how they treat him and the sort of double-standard that’s applied. But nonetheless, it just is what it is. It takes people away – it takes Americans away from the issues at hand. I mean, to me I’m kind of like a one-issue girl. Right? “Economy, economy, economy.” And I don’t want to see higher taxes. I think it would be a full-on disaster. But then you couple that with packing the courts… I mean, all of these things.
And, David, I don’t know that everyday Americans are thinking enough about that only because the media is like, “Well, shiny toy over here.” And they keep trying to basically make this a referendum on, “Do you like him? Is he a nice guy?” Character as opposed to focusing on policy. Does that make sense? And by the way. They don’t like him, right? So they’re inferring that he’s a bad character. It’s like good versus evil and, “You’re a bad person if you vote for Donald Trump.”
David Bossie: Yeah. And I’m sick and tired of it. I’ll be honest with you, Trish. You know, what the mainstream media has done in dividing this great nation and participating in it… they’re no more than a super-pack for the Democratic Party now. And it’s disgusting. It’s dishonest. And I, and a lot of my friends and colleagues, are sick and tired of it. And we’re not going to put up with it. And for the next 30 days, we’re going to make sure that Joe Biden has to answer the questions on policy – on what it is that the… what the Biden campaign stands for as opposed to what Donald Trump stands for.
And that’s the most important thing that we can do because the majority of the American people on the side of the issues that Donald Trump stands for. And the media wants to make this about style. You know? But just this week, you had Joe Biden at a town hall meeting in Miami with Wester Holt. And they were not wearing masks, and they were standing next to each other on stage because they’d forgotten about it – just like I was saying. You get lackadaisical. They’re literally standing next to each other – inside.
But the President returns from Walter Reed, stands on a balcony outdoors with no one around him and he takes his mask off. And it’s an outrage. And so, the American people get it. And they’re sick and tired of it, and that’s why the mainstream media, which is… hey. Think about this. The mainstream media has a lower pool rating than Congress. That’s doing something. You got to really work hard at that, because Congress has almost 0.
Trish Regan: [Laughs] That’s a very, very good point. They’re like, you know, worse than Congress, worse than ambulance-chasing lawyers. I mean, you name it. They are the bottom of the barrel right now. And it’s because their bias is so obvious, and it’s so nauseating. And they pretend to be something else.
David Bossie: Like, they’re all mass murders in prison that have higher approval ratings than these guys. That’s just the way it is. Because they’re so dishonest.
Trish Regan: Well, okay. Quickly, let me just ask you – because I know you’re very active in the fundraising community… and by the way, everyone should follow you @David_Bossie. B-O-S-S-I-E. You can find him on Twitter. What’s happened fundraising-wise? What does this all mean?
David Bossie: Well, you know, Joe Biden has hit enormous numbers over the last couple months. You know? And they’re going to swamp us on the air waves. The President has raised a lot of money. We have the resources we need to do the job, but we need more. And we’re going to get outspent. But we got outspent about 2.5-to-1 by Hilary Clinton. And we still won. And so, here we’re going to get outspent. We’re going to get outspent 1.5 to 2-to-1. And President Trump’s going to overcome that.
Because it’s not about the – it’s not all about the money. You have to have the right message. And so – and we have to play Air-free baseball. I mean, that’s just the reality. For the next 30 days, you know, we have to get our message out and not make any mistakes that are of our own making. And the president’s going to deliver two great… he’s got two more debates to go. He’s going to have to deliver really great, and I know he will, debate performances.
And I’m excited to see him. I was with him in 2016, part of that debate prep team. And it’s sure – he changed his style each time. You know? People after the first debate were, “The sky is falling,” and “Oh, my goodness. We’re going to be – Donald Trump didn’t do well” and – even though the polling said that Donald Trump did fine at the House for the first debate. But here, we have a second debate coming up in the Presidential Debate Commission – which is a bunch of dinosaurs. They live in a different era, which they’re having debate after voting has already begun. What value is that to the American people? Your job is to help educate the American people.
And the three Presidential debates are already after millions of people have already cast their votes? I mean, you know – oh. And, by the way, the second debate moderator, who I personally like very much – Steve Scully – is a great guy. But he used to work for Joe Biden. How is it that the Presidential debate Commission who now wants to change the rules to adversely impact Donald Trump, has picked a debate moderator who’s going to, you know, kind of decide the rules and how to enforce them… worked for Joe Biden. How is that anywhere remotely fair?
Trish Regan: It’s not right. And by the way, Chris Wallace was a registered Democrat. I mean, I just look at it, and I think that you’ve got to at least have the appearance of some neutrality. Otherwise, if you’re going to put a registered Democrat on, put a registered Republican that you’ve got in the news cabinet as well and just put that one out there.
David Bossie: Works for one of these two cats? I mean, come on. That’s like common sense. Can you imagine if the moderator had worked for Donald Trump? Think about that.
Trish Regan: Oh, no. It would have not happened.
David Bossie: The meeting would be totally apoplectic.
Trish Regan: Yeah. No. Of course. Of course. I mean – and so, once again some other double-standard. But listen. Don’t even get me started on that because I just looked at it and thought it was kind of a joke. I mean, it is an old-fashioned format. Your point on them being dinosaurs is so true because – what was it – two minutes, two minutes, and then the moderator has to get in because he’s got to race to the next topic. And I’m like, “No. No. No. I as a viewer, as an American, need to hear the answer.” By the way. Don’t give him a pass on the packing of the courts, for goodness sake.
David Bossie: Exactly. No. They didn’t ask Joe Biden any tough questions. It’s just exhausting. It’s just exhausting.
Trish Regan: No. But he’s got to go and do this one.
David Bossie: My advice to President Trump is, when he wins re-election to disband the Presidential Debate Commission and start over for the next guy.
Trish Regan: It’s not a bad idea. Yeah. Not a bad idea. There’s many more creative ways you can do it. I’d love to see them spend an hour on just the economy or just on China. You know, then you’d actually really have to push someone like Joe Biden to have some actual answers as opposed to sound-bites [laughs] for two minutes. Anyway.
David Bossie: That’s right.
Trish Regan: David it is so good to talk to you. Listen. Keep up the hard work there. I know it’s not easy, and you’re in the home stretch.
David Bossie: No. We are. And I thank you, Trish. We’re excited. And if people get a chance, Corey Lewandowsky has our new book our, Trump: America First. The President succeeds against all odds. It’s never been more important to [laughs] – because this right now is the ultimate in succeeding against all odds when he gets re-elected. So I hope people can get a chance to pick it up. It’s a great read. But it really tells people what they need to know about why he should get re-elected. So I appreciate it.
Trish Regan: Yeah. Let me reiterate that for people. Trump: America First. David Bossie and Corey Lewandowsky. They are the authors of Let Trump Be Trump. This is, I guess, sort of the sequel with you two.
David Bossie: It is. It is.
Trish Regan: You are partners in crime there with the writing. So wonderful. Wonderful. Trump: America First. Everybody should check it out. And thank you, David, for joining us today.
David Bossie: Thanks for having me.
Trish Regan: I’m so happy to have with us next Mr. Stephen Moore. Dear, dear friend of mine – a brilliant economic thinker. He is an advisor to the President. He’s on the committee to unleash prosperity, and, again, on the President’s economic Advisory Board. He’s a Senior Economic Contributor for FreedomWorks and a writer for the Wall Street Journal. Hey, Stephen. It’s great to talk to you again. I hope I see you one of these days.
Stephen Moore: [Laughs] Hey, Trish. I think it’s been about a year since we’ve seen each other. I missed all my friends because we’re all kind of buttoned up in our homes. But great to be with you. Thanks for having me.
Trish Regan: I read all your stuff, including what you wrote in The Wall Street Journal this week. Terrific piece. People should check it out. But anyway. Let me – you know, we’ve been talking about politics so much. I feel like the one thing that Trump really drove home in 2016 and was the differentiating factor of the economy. And my question is, is he going to still be able to do that? Because you’ve got the media that never wants to talk about the economy. Right? Like, frankly I think it’s just too complex for them sometimes. [Laughs] But they never want to talk about the economy. This is what he won on. And right now, it’s like everything but… What’s your sense?
Stephen Moore: Yeah. No. I agree with that entirely, Trish. And it’s great to be with you. I think that… Look, this isn’t a Trump versus Biden race, it’s really Trump versus the media. And they just despise Trump, and they refuse to give him credit for anything. I’ll give you just one little example – a big example – which is, about a week or two ago the Census Bureau came out with one of the most incredible reports of economic progress. And the Census Bureau was sort of the gold standard of economic data.
And they found that in… by the end of 2019 – so the end of last year in covering Trump’s first three years in office – that the poverty rate in the United States fell to its lowest level in the history of the United States. Now, this is a guy who they say, “Oh, he doesn’t care about poor people. He doesn’t care about minorities.” But the black poverty rate, the Hispanic poverty rate, the Asian poverty rate… they all fell to the lowest level ever – which is incredible.
And wages increased to their highest level ever. Now, if that had happened under Barack Obama, I would submit to you – Trish – that that would’ve been a blazing headline in every newspaper across the country. Has Donald Trump made mistakes? Yes. A lot of Democratic governors made mistakes. Politicians around the world have made mistakes in dealing with this pandemic. But in terms of a recovery, this is the most amazing thing we’re seeing right now, Trish. I mean, the unemployment rate has fallen to below 8%. Most of the experts didn’t think we’d have unemployment below 8% until a year or two from now.
So these are the stories that are not getting out. If Donald Trump is going to win this race – and I still think he is – it’s going to be because people who don’t necessarily like Trump… and we know about 55% of voters don’t like Donald Trump. But they do care about their pocketbooks – something you talk about every day – they care about their income, they care about the future of their jobs and their children’s economic opportunities. And I think that socially, overwhelmingly, people do understand that Trump would be much better for the future of our economy than Joe Biden would.
Trish Regan: You know, see, what you’re saying really resonates with me. And I’m going to say that – I get that a lot of people don’t like his demeanor, and he’s not exactly their cup of tea, and they want him to act more Presidential. Whatever. But to me, you know – maybe I’m just kind of a nerd at heart. I mean, I really, really care about the policy itself because that’s what’s actually going to affect us. And so, I’m telling you, from day one, when he came out with his tax plan – and by the way, I know you had a hand in that – which it makes sense because I like you so much.
And I know how smart you are. I could kind of feel your fingerprints on it – it was the best tax plan. And what have we seen, Steve? We have seen an economy that, up until this thing came and hit us, that was just doing fantastically well. And you’ve always said – and some of your good friends like Art Laffer and Larry Kudlow who’s there now – lower taxes, less regulation and you’re going to unleash those animal spirits. And sure enough, that’s what happened.
Stephen Moore: By the way. One thing I’ve always loved about you, Trish, is that you and I are both policy nerds. [Laughs] We have that in common. But policy matters. Right. I mean, basically the Democrats are saying right now, “We’re going to raise taxes by $4 trillion.” By the way… $4 trillion. I didn’t say $4 billion. Joe Biden has a $4-trillion tax increase. This is not a moderate plan. This is a far-Left Bernie Sanders type of plan that they’re going to destroy the American oil and gas industry – that they’re going to re-regulate. In other words, they’re going to undo all the things that created the amazing American prosperity that we saw that hit virtually every corner of the country. And those are very dangerous ideas. I mean, I really do think that the secret to success is having America with the most pro-business, pro-free market policies.
As my buddy Larry Kudlow used to say all the time, “You know, free market economics is the best path to prosperity.” And he’s right about that. And I think, you know – again. It doesn’t matter what you think about Joe Biden and what you think about Donald Trump as people. What matters is, “Do you think the policies will be good for our country?” I do think… we just came out with a study today at our committee to unleash prosperity, Trish, that estimates that the Biden tax plan would lose 3 million jobs and that the average household in the United States over the next four years would lose $8,000 of income. That’s a lot of money for people to surrender who are living on an income of $50,000 or $60,000 or $70,000.
Trish Regan: I’m going to ask you to send me that because I want to read it. I’ve been very concerned – very, very concerned – about these policies and the direction that the country’s headed in. I don’t want to belabor the Venezuela thing, but I’m not kidding. I traded Venezuelan debt 20 years at Goldman Sachs. That’s how I got my start. Okay? And Hugo Chavez had just come into power. And guess what? You know, we thought, “Oh, it won’t be that bad. It won’t be that bad. He’s talking about… he wants some free market capitalist principles.” He sure as heck didn’t. That was just a spin to sovereign debt investors.
And it was a disaster. And that country is struggling like you wouldn’t believe. And so, when people say, “Oh, it couldn’t happen here,” I’m like, “You want to bet?” I mean, they went from the highest per-capita income to the lowest. And I’m not overdramatizing this thing. I mean, they got hyper-inflation… I feel like 1970’s all over again. We run that risk plus the ’30s, for goodness sake, with Harris and Biden in the White House and some kind of Democratic takeover of our government.
Stephen Moore: So I looked at the… every Democratic platform since 1960, since John F Kennedy ran for President. So, you know, that includes John F Kennedy. It includes Lindon Johnson. It includes people like, you know, Michael Dukakis. I remember George McGovern and of course Hilary Clinton and Obama. And I looked at every one of them and what they promised that they would do on taxes. None of them came anywhere close to what Biden is talking about. I mean, none of them. Not even George McGovern or Mondale who we used to laugh at as far-left-wing candidates that were rejected by voters.
People have to understand. Joe Biden’s plans are not moderate. They are radical. And they are Venezuela type of confiscatory taxes that will substantially damage not just our corporations – which, by the way, are owned by us, anyone who owns tax – but also American small businesses. We have 30 million small businesses in this country, Trish. And those are men and women who take the risk and start a store or start a shop or a little technology company, and they are the heartbeat of America. And they are very much at-risk by these dramatically higher taxes.
So I’m with you. I think, you know, the lesson of the last 50 years really is that free markets do work, and the countries that move more on a socialist status direction have very unhappy results – and I pray that’s not going to happen. I do think Trump is going to win this race because I think Americans – at the end of the day, they understand that. We’re not socialists. It’s not in our genes. It’s not in our DNA. We do believe in freedom and free markets and that’s made our country great.
Trish Regan: I 1,000% agree. But to your point in the beginning, he is fighting the media. He is running against the media because the media won’t let that story be told. They’re not talking about this being an economic thing. They’re not talking about capitalism versus socialism. They’re not telling you the consequences of all these policies as you’ve just outlined – which is so important for people to understand.
Stephen Moore: That’s our job, isn’t it, Trish? To get that message out and to go around, you know, some of the mainstream and media people who will not give Trump a fair shake. I mean, Joe Biden said in the debate – and nobody in the media challenged him…. he said, quote, “We left Trump a booming economy, and he blew it.” I’m like, “What? Is he talking about – what country is he talking about?” Number one, the economy clearly was not booming in the Obama years. It was, as Trump said, the weakest recovery from recession.
But number two, you know, we didn’t blow it. We created… I said at the outset of this interview. You know, we have the best numbers of poverty, the best numbers on income and wages. We had the best numbers on inflation, in interest rates. I mean, things were happening in the right direction almost every single regard. And then, we get hit by the pandemic, and then Trump starts to rebuild at an incredible pace. I mean, nobody thought we would see this. We’re going to get 33% growth in GDP for the third quarter this year. You know, 33%, Trish. Have you ever seen anything like that?
Trish Regan: No. But you know what? That’s how it should’ve been in all those years when we were watching Barack Obama and Joe Biden. But they couldn’t get out of their own darn way. Right? So they wouldn’t lower taxes. They wouldn’t lessen regulation. And so, coming out of ’08 it should’ve been fantastic. It should’ve been a V. Any economist can tell you that. But we couldn’t get it because they couldn’t put the darn right policies in place. I mean, it’s so frustrating. I’m going to share with you this little anecdote, Steve, because you’ll appreciate it. One of my friends down South – very, very, very religious. I said to him, “How are you guys – you and your family? How are you thinking about this?” This was back in ’16 after that access Hollywood tape came out. You know, the news cycle like it’s now was moving so fast.
And I wondered if it was really going to hurt him among some people in the South, etc. And my friend said to me, “You know what, Trish? I’m voting for a CEO of America. I’m not voting for my pastor.” And, you know, I thought that that was an important distinction. And I wonder how much that’ll creep back into the voting booths again. Because, again, you’re voting for a CEO for America. Who’s going to get you out of this crisis? Is it going to be Joe Biden and Kamala Harris and Nancy Pelosi with the income redistribution and higher taxes and more regulation, or is it going to be the guy that got you on the right path in the first place?
Stephen Moore: I’ll just add one thing to that, Trish. You’re 100% correct. But the other question is, “Who would you trust better to manage the economy? A guy who’s been in business for 50 years and actually knows how to make a profit and employ people and meet a payroll or a guy who’s been in politics for 47 years?” I mean, you know, politicians don’t understand business. How could they? They’ve never been in business. They live on tax revenues. They don’t live on the incomes or revenues of companies. And, you know, people don’t understand who’ve never run a business how difficult it is. Two out of three businesses there start at bail because it’s so difficult to make a profit and to provide the services that people want at a price.
And so, I don’t understand this mentality that businesses are bad. You know, businesses are – employers are the ones who put the jobs out there so people can make a living. And I do – I’m disturbed beyond just the election the anti-wealth-creation, anti-business sentiment of the Left… that somehow rich people are evil. Well, I don’t think Fred Smith at Fed-Ex is evil. I don’t think Zuckerberg is evil. I don’t think Bill Gates or Steve Jobs were evil. They got rich by providing products that we all wanted. That’s the magic of the free-enterprise system.
Trish Regan: Well, and I would just go back to this – to fight this virus, we need a strong economy. You got the Pope out there this week saying that, you know, capitalism has failed the world, and coronavirus has shown that. And I’m like, “Wait a second. Do you think that we’d be moving as fast as we are on a vaccine if this was all about altruism?” Like if somebody just wanted the badge of honor that they created the vaccine? No. There’s a purpose. There’s a reason – because it’s a capitalist system. And listen. This bashing of capitalism – which I just see as part of freedom, right? It’s intrinsic. It’s part of freedom… is a really dangerous thing. And I’ll give the last word to you, Steve. But it’s so good to talk with you. You’re such a like-minded person as myself.
Stephen Moore: So you really hit a hot button with me, which is this Pope. And I’m Catholic. I grew up Catholic. I was an altar boy and all of that – went to Catholic grade school that had nuns. And, you know, one of my heroes – I mean, the two great heroes of the 20th Century were Ronald Reagan and Pope John Paul II who actually worked together in a very effective way to dismantle communism and the evil Soviet empire. And Pope John Paul II understood that, you know, free market capitalism leads to living standards and reduces poverty.
We have a Pope right now, unfortunately, that is very socialistic. He doesn’t understand capitalism. And it pains me to say that as a Catholic. But the idea that somehow capitalism has failed us is completely backwards. I mean, show me any country that has gotten rich and has raised the living standards of their people through anything other than capitalism? Beause it hasn’t worked, in my opinion, anywhere, any place. And God forbid we should try it in the United States.
Trish Regan: Well said. And I share your sentiments as a Catholic girl myself who went to some Parochial schools with some nuns as well and whose grandmother worshipped the Pope. You know? It feels almost sacrilegious. But I’m like, “My gosh. What is he talking about? This is not – this is not good.” Anyway. Stephen Moore, thank you so much. Great to talk to you as always, sir. Much appreciated.
Stephen Moore: Thank you, Trish. Have a great week.
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Trish Regan: You know, I think the big takeaway right now – as much as we get sort of distracted by all the things that are happening in the media in this crazy speed, right, of the news cycle… fundamentally, what this really does come down – as you’ve heard over and over again from the guests – is socialism versus capitalism and the future direction of our economy. So there is a lot at stake, and it’s going to be very telling depending on what happens, what the direction of this country will be. I thank you all for tuning in to this weekly show I’m so proud of, here. American Consequences with Trish Regan, and I will see you back online.
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