episode 153: “Our Dunkirk Moment” with Steve Moore


The Reconciliation Bill, which Congress is rushing to pass in a matter of days, will push America over the brink into financial and social catastrophe. House Speaker Nancy Pelosi is hellbent on this as her legacy project to turn the U.S. into a European entitlement state. 

No one can explain what is at stake more plainly than economist Steve Moore, my guest on this episode of The Bill Walton Show:

“This Reconciliation Bill, and by the way, do not call it a $3.5 trillion spending bill, this is $5 trillion on top of the $2 trillion they spent earlier this year, on top of the $6 trillion budget that they are passing and on top of the broad $1 trillion infrastructure bill.”

“You add it up, in one year, Congress is authorizing $12 trillion of spending, which is more money than the United States government spent to finance the Revolutionary War, the Civil War, World War I, World War II, the moon landing, the transcontinental railroad and the interstate highway system.” 

“We are on the beaches (of Dunkirk), we need reinforcements. The Left is surrounding us. They have control. They own Washington right now. They have the White House, they have the Senate, they have the House. They’re trying to bulldoze the most left wing agenda in the history of the United States through Congress with a one seat majority in the Senate and a five seat majority in the House of Representatives.”

“This Bill is meant to transform America,” says Joe Biden.  

It’s hard to overstate how bad this legislation is. Even the U.S. Chamber of Commerce urges its defeat. “This reconciliation bill is effectively 100 bills in one representing every big government idea that’s never been able to pass in Congress. It’s an existential threat to America’s fragile economic recovery and future prosperity.”

Listen in to learn what is at stake and what we can hope to do to stop it.


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episode 153 transcript

 

Episode 153:  Our Dunkirk Moment

Speaker 1 (00:04):

Welcome to The Bill Walton show, featuring conversations with leaders, entrepreneurs, artists and thinkers. Fresh perspectives on money, culture, politics and human flourishing. Interesting people, interesting things.

Bill Walton (00:24):

Welcome to The Bill Walton Show. I’m Bill Walton. I’m back today with my great friend and brilliant economist, Steve Moore and we’re following up with the conversation we had last month about this catastrophe, the reconciliation bill that’s rolling through Washington and threatens to upend all the economic progress we’ve made in the last 30, 40 years, plus instituting all sorts of permanent programs, which will I think enslave Americans in a dependency of government control far beyond where we are today. With that as an opening, Steve, am I hyperventilating?

Steve Moore (01:02):

No, you’re understating the issue. Look, I said it a month ago on your show, I want to say it again. This is our Dunkirk moment. We are on the beaches, we need reinforcements. The left is surrounding us. They have control. They own Washington right now. They have the White House, they have the Senate, they have the House. They’re trying to bulldoze the most left wing agenda in the history of the United States through Congress with a one seat majority in the Senate and a five seat majority in the House of Representatives. This bill, and by the way, do not call it a $3.5 trillion spending bill folks, this is five trillion on top of the $2 trillion they spent earlier this year, on top of the $6 trillion budget that they are passing and on top of the broad $1 trillion infrastructure bill.

Steve Moore (01:48):

You add it up, we’re talking Bill, about in one year, Congress authorizing $12 trillion of spending, which is more money than the United States government spent to finance the Revolutionary War, the Civil War, World War I, World War II, the moon landing, the transcontinental railroad and the interstate highway system. That’s how much they’re talking about here. I don’t want to go on too much. We can get into the details but I will tell you this, every single crazy lunatic idea the left has been peddling for the last 30 years is included in this bill. Whether it’s modern monetary theory, where they can just borrow ad infinitum, whether it is critical race theory, whether it is the pro-abortion movement, whether it is the idea that we can raise tax rates through the roof. Every idea they have, they are shoving down our throats in this bill. Green New Deal, it’s all there. We have to stop it. This is our Dunkirk moment. If we lose this, we’re going to spend the next 30 years of our lives trying to undo the damage this bill would do.

Bill Walton (02:56):

Well, the thing that’s really galling is if you look at say, FDR’s New Deal in the thirties, it took them two terms to get that through and he had massive majorities in Congress and it was all out there and everybody agreed. This was the social consensus. Johnson, Great Society took about two years to put in place, two, three years. He also had an overwhelming majority in Congress and it was all out there, everybody talked about it. They were filled with terrible ideas but at least most of America agreed with it. This thing, is it 5,000 pages now or 10,000 pages? We don’t know.

Steve Moore (03:31):

We don’t know. That’s the other thing, they’re not telling us what’s in the bill.

Bill Walton (03:33):

And they’re giving us a week or two.

Steve Moore (03:35):

Do you remember what Nancy Pelosi said about Obamacare? We’ll read it after we pass it. That’s exactly their strategy here. If they’re so proud of this bill, if it’s so transformative, if it’s what the American people want, why aren’t they keeping it top secret? Why is it so confidential?

Bill Walton (03:48):

Explain the state of play with the reconciliation bill. This is a budget item. This is the budget bill. And I know a little bit, enough to be dangerous. The budget should be about money, taxing and spending. But as you point out, they’ve also dumped the kitchen sink into this thing, everything. Every social agenda they’ve had goes into this reconciliation bill. What’s the process for the reconciliation bill? And how would this become law?

Steve Moore (04:14):

That’s a great question. And these are complicated rules. I’ll try to really simplify.

Bill Walton (04:17):

It’s mind boggling.

Steve Moore (04:18):

The most important thing for people to understand is that under the reconciliation process, that you can pass a bill with only 51 votes, not the required 60 that it normally takes.

Bill Walton (04:31):

51 votes in the Senate.

Steve Moore (04:32):

Right. And a majority in the House. What the Democrats have done is basically said, every crazy idea that they have that no Republican in their right mind would vote for, they’re going to stuff it in this reconciliation bill. That’s the Green New Deal. That’s the modern monetary theory. That’s the critical race theory. That is the massive increases in taxes. Biggest tax increase since Jimmy Carter was in office. All of these things are being stuck in this bill and the Democrats believe that they can pass this with 51 votes. Now here’s the snag for them. They want to put their steel election bills in this. They want to put things like Washington, DC statehood in this bill. They want to put in getting rid of their big labor bill that would get rid of state right to work laws. They want to shove this all on the bill.

Steve Moore (05:20):

Some of that is going to be ruled out of order. The Senate parliamentarian already has said, they cannot put their amnesty bill. They wanted to put amnesty in this bill and thankfully the Senate parliamentarian said, “No, you can’t do that.” There are going to be decisions made about what they can put in and are going to be left out of this bill. Bottom line though, is there’s nothing to stop the Democrats, if every Republican votes no, which God willing will happen. If Nancy Pelosi can get every Democrat in the House but Chuck Schumer can get every Democrat in the Senate, they’re going to do this. Now I’m going to make one other quick point. You brought up the New Deal, the American people rightly or wrongly voted for the New Deal. There were massive majorities for the Democrats.

Bill Walton (06:11):

Democrats had about three quarters of Congress.

Steve Moore (06:14):

Exactly. There was a voter mandate for the New Deal. There’s no mandate for this. This isn’t what the American people voted for. Joe Biden said a 100 times through the campaign, “I’m not Bernie Sanders. I’m not going to pass the Bernie Sanders agenda.” You know what? This is to the left of the Bernie Sanders agenda.

Bill Walton (06:30):

It’s worse.

Steve Moore (06:30):

My God, Joe Biden is making Barack Obama look like Ronald Reagan in comparison.

Bill Walton (06:36):

What kind of time do we have? As I understand it, the reconciliation bill’s in the House. The House passes the spending bill. They send it over to the Senate and that’s where the 50 votes, 51 votes really matter. And so is there a conference now that the Senate and the House are talking?

Steve Moore (06:52):

They haven’t gotten it through. There’s so many moving parts to this, that’s the other thing.

Bill Walton (06:55):

And the only thing I want to add, the reason we’re doing this show is you look in the papers, this is not being reported on.

Steve Moore (07:01):

It’s not being reported because nobody understands that they don’t want people to understand this. The $1 trillion sham infrastructure bill, which is basically the Green New Deal, which unfortunately, 19 Senate Republicans voted for that. I’m still ashamed of those people who would vote for a Green New Deal. Then they have to pass a normal budget to finance our national security and our roads and our bridges and our court system. That’s going to be six and a half trillion. And then they want to pass this $5 trillion, what I call the great society part two, because great society part one was such a great success. The war on poverty, which poverty won. And so it is massive in size. It is massive in terms of its effect.

Steve Moore (07:42):

Look, Biden’s said it very clearly, this is meant to transform America. It is a radical redistribution of income. It is big government socialism. It is the Joe Biden AOC dream plan. And I believe we can beat this though. Here’s the thing. I think that there are enough Democrats, all you need is five or six Democrats in the House. And all you need is one Democrat in the Senate, whether it’s Joe Manchin or Kyrsten Sinema or Warner in Virginia. One of them to say, “This is insane. This is going to bankrupt our country. We can’t do this.” Now, Joe Manchin, who has said something really important, Bill. He said, “Let’s have a strategic pause.” I love that idea. Yes, a strategic pause. What is the rush to get this thing done? The economy is doing well.

Bill Walton (08:31):

I’ll tell you what the rush is, the rush is they want to get this done before the 22 elections. And Manchin’s strategic pause is when we wait until after the 2022 elections. That’s the last thing they want. They want to get this thing done before the voters can speak.

Steve Moore (08:45):

Time is on our side. Delay, delay.

Bill Walton (08:47):

If we can delay delay, delay.

Steve Moore (08:49):

What?

Bill Walton (08:49):

If we can delay.

Steve Moore (08:50):

Yes. And I’ll just give you one example of a way to delay this bill. Read the damn bill, read it. This is going to be somewhere around 5,000, maybe 10,000 pages long. Bill, when is the last time you read a 5,000 page book? Come on. Just if we require.

Bill Walton (09:08):

My secret’s out.

Steve Moore (09:11):

Mitch McConnell could go to the Senate floor and say, “I want this bill read on the Senate floor.” Well, that would probably take two or three weeks, 24/7 just reading the thing.

Bill Walton (09:20):

Does he have the power to do that?

Steve Moore (09:22):

He could. He should.

Bill Walton (09:24):

Well the thing that would do is it would shine a light on what’s going on in here because they’re rushing all this stuff through and they don’t want a light shone on it.

Steve Moore (09:30):

And by the way, if this goes into 2022, it’s not going to happen. Do you think these Democrats want to vote for the biggest tax increase and the biggest debt increase in the history of America in an election year? They would lose 50 seats. They may do that anyway but this is very perilous. I tell you, my sources on Capitol Hill are telling me that these 25 Democrats who are in Republican districts, these are mostly suburban districts, they are getting very nervous about this. And so I do believe we can defeat this bill but the conservative movement has to come together.

Bill Walton (10:05):

Well, that’s why we’re doing this.

Steve Moore (10:06):

We have to come together.

Bill Walton (10:06):

That’s why we’re doing this.

Steve Moore (10:08):

Every group that’s part of your coalition.

Bill Walton (10:11):

At Council for National Policy.

Steve Moore (10:13):

CAP, every coalition, whether you’re a pro-life group, pro one group, pro election integrity group, whether you believe in human rights, whatever your issue is, it is under assault in this. If you’re a right to work group, this gets rid of right work laws in 26 states. Folks, you cannot believe how horrific this bill is.

Bill Walton (10:35):

Is this all or nothing? The voting bill, Joe Manchin had some improvements to the voting bill, and even after his quote improvements, it’s still terrible.

Steve Moore (10:45):

Oh yeah, exactly. That’s a great point. Our line has to be the right amount of money to spend on this bill is zero.

Bill Walton (10:52):

Zero.

Steve Moore (10:53):

Zero. Now Joe Manchin says, “Well, I won’t vote for a $3.5 trillion bill.” Does that mean he’ll vote for a $3.0 trillion bill or a $2.5 trillion bill or $1.5 trillion bill? We’ve already spent $6 trillion on COVID. Much of that under Trump. The economy is improving. There is no need to do this. Why do we want to massively? I’ll give you another example. You were an employer. This bill would put in place for the first time, paid parental leave policy for employers. Small businesses can’t afford that.

Bill Walton (11:23):

Is there any employment cap on that as a 100 employees? Even so, it doesn’t matter.

Steve Moore (11:28):

Who knows? Exactly. They’ll change it. And the point is, that’s going to lead to higher unemployment. The tax increases, the death tax goes to 40% on anything that you want to leave to your children. If you’re a successful businessman or woman, this is an assault against family owned businesses. I don’t even understand the logic of it, frankly. The biggest beneficiary of this bill is China. By far, China is going to dance around a jig in Beijing if the American Congress is stupid enough to pass this bill. The higher tax rate, we would have higher tax rates in the United States than China does, which is a communist country if we pass this bill.

Bill Walton (12:10):

Well, yeah. You and I worked hard to get the corporate rates down. We made the US competitive. We made us investable. The economy took off and lo and behold, here we are. We want to go back to where we were before. You’re watching the Bill Walton Show. I’m here with the economist, Steve Moore and we’re talking about the catastrophe that is the so called reconciliation bill moving through Congress.

Bill Walton (12:32):

Steve, let’s do some context here. We got debt. There’s this whole debt ceiling going on, Kabuki theater. And the thing that’s interesting is the debt ceiling is $28.4 trillion. Our existing debt is $28.8 trillion. We’ve already blown through that in terms of the actual numbers. And GDP is only 21 or $22 trillion. We’re looking a 130% of GDP and they want to push even more spending on that. As I’m looking at this $28 trillion, would this five trillions add to that? We’re talking about.

Steve Moore (13:06):

Five trillion? Over the next decade, this bill adds almost $20 trillion to our debt.

Bill Walton (13:13):

We would be 200% debt to GDP.

Steve Moore (13:16):

By the year 2050, which is 30 years away. The time a child born today, when they’re 30, we’re talking about a debt that would reach 300% of our GDP. That’s like Greece. That’s like Mexico. That’s Zimbabwe, countries that go bankrupt. And you’re talking about another way to put it is if you have a child at home in the next 30 years, their share of the national debt to just pay for all the spending we’re doing today would be $600,000.

Bill Walton (13:45):

Wow.

Steve Moore (13:45):

$600,000. By the way, it annoys me to no end when Joe Biden says, “We have to do this for the children.” For the children? Who does he think is going to pay for this? You and I, we’re going to be dead, Bill. We’re going to be dead. It’s not going to be us. It’s going to be our kids and grandkids. Unless you’re going to live to a 110 years old or whatever.

Bill Walton (14:03):

At one point, I thought that was a good idea. Now I’m not so sure.

Steve Moore (14:09):

I’m not sure I want to live that long if I see our country go down this rat hole. Show me any nation in the history of the world that has ever borrowed and spent its way to prosperity. There’s never been. Look at the great civil, you’re a student of history, almost every great empire was destroyed from within.

Bill Walton (14:28):

That’s what happened to the Roman Empire.

Steve Moore (14:30):

Of course. And we’re following them down that path. This is a moment we all have to come together and this is not a time for passivism. It’s time for activism, to get involved, stop this bill.

Bill Walton (14:43):

Well, let’s talk about our coalition. We’ve got lines of action here. Who’ve you pulled together to help fight this thing?

Steve Moore (14:49):

Our group, we have it’s the Committee to Unleash Prosperity, which is my group with Laffer and Steve Forbes. And then we’ve got…

Bill Walton (14:58):

Larry Kudlow.

Steve Moore (14:58):

And Larry Kudlow, who is with American First Principles. And he’s the chairman. And then we have Freedom Works and we’ve got Alec and we’ve got Jim DeMint’s group, Conservative Partnership. We’ve got Cap involved. Everybody is excited. Everybody wants to know what they can do to help. And I think the point is, talk to your neighbors, talk to your friends, talk to your family members and explain to them that this is a bill that will bankrupt our country. Will put at risk, a financial crisis that will make what happened in 2007 and 8 do look like a picnic.

Bill Walton (15:31):

Do we have a target list? I know we’ve talked about the Senate. Do we have a target list in House? Because Pelosi’s got 208 votes now.

Steve Moore (15:39):

Sorry?

Bill Walton (15:40):

How many votes does Pelosi have in the caucus?

Steve Moore (15:42):

She has about a four or five seat.

Bill Walton (15:45):

Pick a number.

Steve Moore (15:46):

She can only afford to lose at most five Democrats out of 222.

Bill Walton (15:53):

Okay. Do we have a target list, now?

Steve Moore (15:55):

Yes, we do. By the way, we’ve got a list of 25 Democrats that are in Republican districts some of them, which Trump won that this is a very, very difficult vote for them. And we have to make it as excruciating as possible. Now you asked about the debt ceiling. That’s another part of this. What we’re saying is no Republican, no Republican should vote to raise the debt ceiling. None, zero. They own it. They’re the ones who want to borrow seven, $8 trillion over the next five years. They’re the ones who are going to have to raise the debt ceiling to pay for it. Mitch McConnell is a 100% right on this. You own it. You can pass that ceiling if you want to. Force them to put that in the reconciliation bill so when they vote for all this spending, they also have vote to raise the debt ceiling because they are going to pay a high price in 22 if they do that.

Bill Walton (16:46):

Well Schumer, they don’t need the Republicans to raise the debt ceiling.

Steve Moore (16:49):

They don’t.

Bill Walton (16:49):

They’ve already got the votes.

Steve Moore (16:51):

This is why The Washington Post, the New York Times, they’re just lying. The media is lying to people. I listen to these Democrats because sometimes I turn on MSNBC. Oh my gosh, the Republicans are trying to cause a financial crisis.

Bill Walton (17:02):

Here we go again.

Steve Moore (17:03):

We’re going to default on our debt. No, the financial crisis is the $30 trillion debt. And look, you’ve been in banking. Can you imagine if you’ve got somebody who’s come in with a business and it’s going bankrupt and they’re spending way, way too much money. And they’ve got endless amount of, and they say, “Oh, will you give me another loan?” And you would say, “No. First, show me a plan. What’s your plan to get out of debt?” Bill, what is Congress’ plan to get us out of debt? Do they have a plan?

Bill Walton (17:35):

Might be a good time for you to explain something arcane called modern monetary theory. The idea that there is no day of reckoning, explain that.

Steve Moore (17:44):

Modern monetary theory, I’ve mentioned it several times on this show is this crackpot idea because we’re the world reserve currency we could just keep borrowing and borrowing and borrowing and foreigners they’re going to just keep buying our debt. Well, that’s like saying, jump out of a 99 floor of the Empire State Building and when you’re the 20th floor you say, “Gee, it’s going great so far.” At some point you crash and you hit the ground and then you do have that financial crisis. It will cause interest rates to rise. It will cause higher inflation. And that’s the other thing. This is a president, everything he is touched he has contaminated and screwed up. Whether it’s the catastrophe Afghanistan, whether it’s the rise of inflation, whether it’s our border crisis, whether it’s COVID, whether it’s the national debt, all of these things. Show me anything he’s done right. After they’ve screwed up everything, now we’re going to give these people $5 trillion more money to spend?

Bill Walton (18:37):

Do you have a website that points out who the vulnerable Democrats are?

Steve Moore (18:43):

Yeah, either go to American First Principles, the American First Principles or go to the Committee to Unleash Prosperity. We’ve got those targeted people. We got to hit them hard.

Bill Walton (18:52):

How many names?

Steve Moore (18:52):

They’re mostly in suburban districts.

Bill Walton (18:54):

25 names? 30?

Steve Moore (18:55):

There’s about 30 actually. Look, I think Republicans could pick up 50 seats in the House next year. That’s what happened in 94. That’s what happened in 2010. The American people are angry. They did not sign up for this.

Bill Walton (19:07):

But even if we pick up those seats, unless we stop this, it’s going to be too late to reverse a lot of these entitlements.

Steve Moore (19:12):

And by the way, even if we take them out in 2022, if they pass this bill.

Bill Walton (19:15):

Yeah, that’s my point.

Steve Moore (19:16):

It’s not going to matter.

Bill Walton (19:17):

Yeah. We got to act now. Also, just to energize people, what do we have in here? paid parental leave you mentioned. We’ve got essentially a continuing takeover of the healthcare system. We got a climate bill built in here.

Steve Moore (19:30):

I didn’t even mentioned that. Thank you for bringing that up. Remember Obamacare, was the first stone to get over the river towards socialized medicine. This is the next step. This will put tens of millions of more Americans under the government healthcare system. It will destroy private insurance, which is exactly what they want. And then you’ve got another thing, Bill, that I didn’t mention. What about the entitlement? The fact that they’re vastly expanding the welfare state and they’re getting rid of all of the bipartisan welfare reforms we did back in the 1990s. No work requirements, no school requirements, no even looking for work requirements, no time limits on the stuff. Everybody’s just going to.

Steve Moore (20:13):

Look, free healthcare, free childcare, free pre-kindergarten, you don’t have to pay your student loans, free community college, free food. We’re going to expand the food stamp program. You don’t have to pay your rent by the way. This is insane. This is treating like we’re going to have half of Americans basically dependent on government. And I don’t know how you feel about, Bill, because I’m always asked, are they doing this intentionally to make Americans dependent on government? What do you think?

Bill Walton (20:40):

I think the answer is yes.

Steve Moore (20:42):

You do. They’re that terrible, they’re that awful that want to make. Maybe it’s right.

Bill Walton (20:47):

Well remember the Democrats are the party of government and the more they put into the government, the more they have power, the more they can influence the outcomes they want. And I think it’s a naked play to put government in charge of every aspect of life.

Steve Moore (21:00):

They’re buying votes.

Bill Walton (21:01):

They’re buying votes. And then if you look at all the items in this and this goes on for page after page, there’s something for everybody here. I happen to be on Medicare. Okay well now I get free dental. Gee, I’d like free dental. But then also, I also think you’ve got to pay for it. We can’t afford it. What they’re doing, they’re giving they’ve got a list. I don’t think they’ve left out a constituent except maybe Donald Trump.

Steve Moore (21:27):

Well I’m glad you brought up Medicare because Medicare as you know, is going bankrupt. You know that everybody knows Medicare is going bankrupt.

Bill Walton (21:33):

We got two to three years left.

Steve Moore (21:35):

It’s now it’s supposed to go bankrupt, well start to go into the red in 2026.

Bill Walton (21:40):

Okay, five year.

Steve Moore (21:41):

This bill moves it up by two years because what are they doing? They’re taking a bankrupt system and they’re putting more people on it. They’re adding more benefits to the program. Actually, if anyone watching the show, if you’re on Medicare, this is a threat to the survival of that program. It’s going to capsize. It’s like putting more and more people on the decks of the Titanic.

Bill Walton (22:01):

More people need to know that. That’s exactly what’s happening.

Steve Moore (22:04):

Exactly and they know that.

Bill Walton (22:04):

This sounds great near term, longterm you’re dead.

Steve Moore (22:08):

This is a clear and present danger to the future of the Medicare system. Now they’re saying, “60 can get it.” They’re saying all sorts of new benefits. And it is going to cause massive deficits in the program. And then they’re going to not be able to pay them for the benefits.

Bill Walton (22:28):

Well then we used to have the military industrial complex. Now we’ve got the climate change industrial complex. This is also a big giveaway to them. Don’t we do something like.

Steve Moore (22:37):

Did you say the climate change?

Bill Walton (22:38):

Climate change.

Steve Moore (22:39):

Yeah. That’s a term I use all the time. The left, all these corporations and all these solar panel companies. And by the way, you know where the solar panels and the wind turbines are made, right?

Bill Walton (22:51):

China.

Steve Moore (22:51):

China. And how insane is this?

Bill Walton (22:53):

China.

Steve Moore (22:56):

We’re not producing our oil and gas and coal and nuclear power and we’re going to use solar and wind power, which by the way, is produced in China. You can’t make this stuff up, it’s so crazy.

Bill Walton (23:05):

Let me amplify that. And the other thing is this stuff doesn’t degrade. It stays around for a billion years. It’s non-degradable, it’s therefore very harmful to the environment. And also the amount of minerals and energy you need to extract the stuff to make the wind and solar makes it 10 times more expensive.

Steve Moore (23:25):

Are you following what’s happening in Europe right now? Because Europe has gone green and their energy prices have tripled, tripled. Can you imagine what a hardship that will be for American families if your utility bills triple? Your gas price triple? And a lot of these European countries are saying, “We’ve got to get away from this green energy crap. It’s not working. We’ve got to go back to using coal and natural gas.” And by the way, Biden just this week was at the United Nations, instead of talking about putting America first and it was all about climate change and all of these international programs that he is not an America first guy, Biden. He is not America first. He’s America last. America is going to pay for everything.

Bill Walton (24:07):

You’re making news, Steve.

Steve Moore (24:11):

That’s the understatement of the century.

Bill Walton (24:13):

It would be. Oh, by the way, let’s give away the Bagram Air Force Base, who would like that air base? China might like that. We got to wrap up, but go with you on this long list would be to make our blood boil. And I think it’s already off, we’re probably 400 degrees right now. What do we do? What are you recommending?

Steve Moore (24:36):

I think we have to have all hands on deck. We need activists. Every American has to speak out about this bill. The polls are showing very clearly, Americans don’t want this. The Democrats don’t care. They don’t care. They see the window slamming shut and they’re going to run this down our throat. We have to keep the pressure on. As I said, talk to your family members, talk to your friends, talk to your colleagues and just say, “Do you realize what these people are doing right now? Do you realize how much debt they are imposing on us? How these higher taxes are going to benefit all these other countries?” Donate, lend your time, lend your voices, call your congressmen, all these things. People think, oh gee, if I write a letter to my congressman or call my congressman, it doesn’t make a difference.

Bill Walton (25:19):

It matters.

Steve Moore (25:19):

It does make a difference.

Bill Walton (25:20):

Really a very small percentage of people can really move the needle. And if you’re asking yourself, if you’re watching this or listening and you’re saying, “Well gee, I really don’t know about this. Is it serious?” There’s a news blackout. They don’t want any of this reported. It’s the same thing as alternative to something like ivermectin. You’re not allowed to talk about that. You’re not allowed to talk about certain verboten things on social media. Well, this bill has been, you really don’t find much about it, except if you listen to us and it’s the most, I’d say it’s probably the single biggest issue we face right now.

Steve Moore (25:55):

I was watching, Saving Private Ryan the other night and it just, it really hit me, the courage and the bravery and the self sacrifice of these people who stormed the beaches at Normandy and the whole country really came together to defeat this hostile force. We have a hostile force right now in Washington. And this is a time for everybody to be engaged in the fight. And don’t just sit back and watch. Do something, get involved, activist groups. We need protests. Peaceful. We’re peaceful people. They’re the violent ones but lend your voice to this and say, “Hell no, we’re not going to let you, Joe Biden and Nancy Pelosi and Chuck Schumer bankrupt the greatest country on the planet.” Or, “We’re not going to allow you to send our jobs to China and to Saudi Arabia and to these other nations. We’re not going to allow you to impose massive costs on our children to fund your massive socialist fantasies.” And that’s what they’re trying to do. And they really do regard this as their once in a half century opportunity to do it.

Bill Walton (27:04):

Give us your website.

Steve Moore (27:05):

Committee to Unleash Prosperity, go, sign up for a hotline. It gives you every day updates, information about what they are doing. We have to force the Democrats. There’s at least 25 Democrats in the House and at least 10 Democrats in the Senate who we believe can crack and that’s all we need. We only need one or two of them. Just a few of them.

Bill Walton (27:29):

Well, we’ve got a line of action. Steve Moore, thanks it’s great. You’ve been watching the Bill Walton Show, listening to the Bill Walton Show. Steve Moore, economist talking about the very, very critical matter for our country’s future.

Steve Moore (27:41):

This is not a fire alarm folks. This is not a fire drill. This is the real thing. These people are serious. They’re deadly serious. This is as serious as a heart attack.

Bill Walton (27:55):

Exactly. You can as always stay tuned for our next step is the next time. Hopefully we come back with, we can do a victory dance next time we hope if we all get involved in this way. You can follow the show on thebillwaltonshow.com. We’re also on all the major podcast platforms. We’re on YouTube and Rumble and hope you’ll continue joining us in the conversation. Thanks for participating.

Bill Walton (28:22):

I hope you enjoyed the conversation. Want more? Click the subscribe button or head over to thebillwaltonshow.com to choose from over a 100 episodes. You can also learn more about our guest on our interesting people page. And send us your comments. We read every one and your thoughts help us guide the show. If it’s easier for you to listen, check out our podcast page and subscribe there. In return, we’ll keep you informed about what’s true, what’s right and what’s next. Thanks for joining.

 

Episode highlights


Episode 153 Clip 1: Spending $12 trillion in one year alone. If all the Democrat spending measures pass, the US will have spent more in one year than it spent in the Revolutionary War, the Civil War, both world wars, the moon landing, the transcontinental railroad and the interstate highway system.


Episode 153 Clip 2: This is our Dunkirk moment. If we don’t rally to defeat these spending measures, we’ll spend the next 30 years trying to overcome the damage.


Episode 153 Clip 3: The biggest beneficiary of the $3.5 trillion infrastructure bill is China – by far. American corporations would pay taxes at higher rates than even China – a communist country.


Episode 153 Clip 4: Joe Biden says he wants to do all this spending “for the children.” But children born today will owe $600,000 each to pay for our profligacy.


Episode 153 Clip 5: Modern monetary theory is like jumping out of the window on the 99th floor. On the 20th floor, it looks like everything is going great. But a crash is ahead. Undeniably.


Episode 153 Clip 6: “We’re going to have half of Americans basically dependent on government. … Free health care, free child care, free pre-kindergarten, you don’t have to pay your student loans, free community college, free food … and you don’t have to pay your rent.”


Episode 153 Clip 7: Medicare is going bankrupt, and Democrats want to add more people and benefits. Changes proposed will hasten its descent into red ink and eventually lead to its collapse.


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