W-P-H-D-H-D-W-O-G-L-H-D-D-3, Philadelphia, from a Cheerio Volos studios, where relationships matter.

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As it could have rejected the election results on January 6th is a legal theory. It's a political theory. It's a theory. It's an interpretation of the Electoral Count Act. But it's not criminal. And that's the other part of that callers argument. It's arguing that by saying to Mike Pence, hey listen, we need you to reject the election results of that's criminal. It's not criminal. It's a different political interpretation. There were political scholars, legal scholars who were arguing that the vice president does have the power.

But it's not criminal. And no crime took place regardless of the fact because Mike Pence certified the election. So if Donald Trump had wanted his vice president to do something, he has the right to express his opinion. It doesn't make it a crime. Now Congress has the right to punish the president for that if they feel the president overstepped his bounds. But at no point in that phone call did that woman offer any evidence that a crime was committed by asking vice president Pence to throw out the election results. And there were many legal scholars at the time who were saying, yes.

Absolutely. The president, the vice president had a right to reject those election results. It is a different interpretation. But a different interpretation does not make it a crime under criminal statute.

It could make it a political problem, which Congress did deal with in their impeachment against the president, but it still doesn't make it a crime. All right. But I'm going to come back to this issue. And I will take your calls on this 8558391210 is the number.

But we do have a guest joining us now to talk about the economy because the economy is still a huge issue. And there was some big news on that today.

So EJ and Tony joins me right now to talk about some biodynamic stuff. EJ, how are you today, my friend?

Rich, I'm hanging in. How are you doing?

Hang in there as well. I know there was an issue that happened with the credit rating that just came out. Can you explain that to us real quick off the top of the show?

Sure, absolutely. So basically you have governments just like corporations can issue debt. In other words, a promise to pay some of the bar of money from you today. I'm going to give it back to the future plus a little extra for your trouble ratings agencies tell people they essentially give grades to those debts to try to tell people how much risk is involved with getting your money back now unlike corporations who can either pay you back or not pay you back.

Governments have a third option, which is to inflate their currency and therefore implicitly not pay you back because yeah, they're paying you back, but they're paying you back with devalued money for your money can't buy as much. That's exactly what we've seen under the Biden administration.

Yeah, let's say you gave the Biden administration money on the day of his inauguration. Maybe it was like a 2% rate of return.

You've essentially lost 12% on that investment because prices have gone up so fast since he was elected or, excuse me, since he became president. So as a result of that and some other issues too related to the fact that our debt is growing at a ridiculous rate interest on the debt is just obscene at this point.

Fitch one of the top three rating agencies in the country decided to downgrade US debt now it's not a huge downgrade right it's still considered investment grade debt, but it is no longer that pristine triple a rating.

And I agree with you on your analysis, of course, because you you are, of course, the expert on this stuff.

EJ and Tony is a public finance economist at the Heritage Foundation, a senior fellow at the committee to unleash prosperity on the point of biodynamics your latest piece biodynamics runs a trucking giant off a cliff.

Just I think it latest example of more of the reasons of how this president is just completely screwing up this economy.

Oh absolutely you know yellow trucking had had a lot of problems right it's not as if this was you know this wasn't a saint you know this was a center but it wasn't the worst defender that's for sure but what really did yellow in were all the effects of Biden's misguided policies there are three big ones the first is energy this is a man who campaigned on destroying the fossil fuel industry and and thus far he has been making good on that promise.

Diesel fuel for example 18 months after he was elected diesel fuel the prices that businesses pay so not necessarily what you and I pay at the pump but with businesses like these big trucking companies pay was up 166% now it's still up about 40% right so it's come down from the highs but it is still substantially higher than when he was elected and that is that is because of his war on fossil fuels including the oil industry I mean for crying out loud his very first day.

You know he's he's not even a day full day into his president sandy cancel the keystone excel pipeline so diesel fuel fuel cost there their number one cost was through the roof on top of that the Biden administration has just been spending borrowing and printing like crazy that caused inflation to go through the roof that drove up all kinds of costs not just a fuel related and that in turn not only increased cost for businesses but it also caused interest rates to run.

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