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The John Batchelor Show

#POTUS: The debt laden legacy of the Biden-Harris Administration. Veronique DeRugy. Mercatus Center

The John Batchelor Show

John Batchelor

Books, Society & Culture, News, Arts

4.52.8K Ratings

🗓️ 11 October 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

#POTUS: The debt laden legacy of the Biden-Harris Administration. Veronique DeRugy. Mercatus Center

1829 Five Points NYC

Transcript

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0:00.0

Hey true crime fans, tired of ads interrupting your gripping investigations.

0:04.5

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0:16.0

To start listening, download the Amazon music app for free

0:19.0

or go to Amazon.co. UK slash ad-free podcasts. That's Amazon. That's Amazon. This is a CBS, I on the world, I'm John Batchefer.

0:37.0

At the end of the Biden administration, it is time to take measure of the bill come due. Since Mr Biden took office we've had

0:47.5

several large relief bills on the basis of the pandemic and the recovery. However I learned from Verenich de Regi

0:55.3

writing at the Mercatus Center for the Creator Syndicate. The important one happened right

1:01.0

away. Three months into the term and four months after the

1:05.6

last 900 billion COVID-19 relief bill, writes Verenique, the Biden-Harras

1:10.8

administration pushed through another $1.9 trillion bill.

1:16.0

Vernica, a very good evening to you. That $1.9 trillion.

1:20.0

What did it do to our economy? What did it do to households? Good evening to you.

1:25.0

Good evening, John. So, I mean, there's a lot of studies now that shows that it contributed, you know, a large part to the

1:37.4

inflation that we had, especially considering that it wasn't just this 1.9 trillion dollar bill.

1:45.9

It was also then all the other bills, the infrastructure bill, which was a trillion dollars.

1:51.8

And there was the CHIP Act, which was a trillion dollars and there was the CHIP Act which was close to 400 billion dollars

1:56.2

with 52 billion dollars subsidies for semiconductors and then it was the inflation reduction

2:02.3

act which were also quite significant bills.

2:08.8

And so all of this really contributed to the deficit but if you want to actually not the deficit

2:15.6

well the deficit yes but also the inflation that we had that inflation that we had

2:22.3

imposed a cost on every American family of $10,000.

...

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