Texas Attorney General Ken Paxton joins to discuss how fast President Biden has been moving through executive orders and a federal judge blocking Biden’s order to pause deportations. Economic policy expert Brian Riedl takes on the $15 minimum wage and how it would decimate the economy. Glenn and Stu look over GameStop’s recent controversial stock surge.
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Still I'd have to say. The Glenn Beck program may have been the best Glenn Beck program of all time, yeah. Well, that's the reason why we call today's show the big show and it really did pan out the action very, very big yeah, Steve Dass, one list, yeah KEN Paxton was on. We talked a little bit about money. Printing talked a lot about the great reset. The world economic forum actually did a tweet thread addressing me and what I said on this program yesterday, which seeing their over in Davos with all these world leaders you'd think that would be low on their priority list. Unless what I'm saying is heading a little too close to home, you'll, hear it all and so much more, including how many masks, who does it take to be able to completely protect yourself from covet? And don't forget tonight: Glenn's got a special. You want to make sure that you do not miss that it starts at the whole night. Okay and there's lots of stuff all day. That's great! But let me start you at eight p m eastern with Stew: does America followed by Glenn TV? That's all coming up tonight you can subscribe at Blazetv com Glenn, the promo code is Glenn to save thirty bucks and you can alway get a lot of our stuff. I think here on Youtube tonight: Rigle yeah mine's on Youtube as well. My channel is at studies, America or Glenn Beck. You actually is on the blaze Tv Channel Tv Channel on Youtube, but make sure you subscribe. We need your support at Blazetv COM, Glenn, say thirty percent. Here's, a pot
the only thing team two weeks ago and tv. We talk about
government and private industry coming together in the Biden administration. There.
Just getting started ever
time you open a closet, the Biden, Whitehouse there's another special interests. Skeleton tumbles out tonight
take a look at the major stakeholders who have their tentacles all over this White House, the New Biden Administration already showing America, the natural end result that comes from decades being done.
By special interest groups. Eventually you get government
at the top is so beholden to these groups. You can call them stakeholders this.
Stakeholders have vested interest in the actions and policies of the government. Financial interest ideological interests, often both
take priority over you and me too,
I'll show you the stakeholders in this new stakeholder capitalism,
and the Biden administration what they want, who there
working with inside the binding administration, nine pm eastern on Blue.
He's tv dot, com and blaze tv. You tube now
Pm Eastern Blaze, tv dot com or blaze tv you tube. We have
Paxton with us. He is the fifty first attorney general of Texas. He has fought,
and one many.
The cases against Burma
Obama's administration and they
us posted there. First victory on the binding administration, the first one to bring a lawsuit
and within six days. Texas has halted
binds illegal deportation freeze joining us now is, can Paxton I can. How are you
I'm doing well good morning. It's been a fast hasn't. It is breathtaking.
How quickly things are changing and and quite honestly, we're talking about it in the break. A little frightening
it is agreed, is frightening as it had I ve. Never, I don't think it's hammer happened. This ass a mean. I think Biden is after the fast the star than a president in just the issue.
Executive orders and changing from of what we had going, he had a yeah he's had a
record of think thirty eight, which-
it just smashes all the other records of executive orders. He signing more today this one
they are going to preserve. I don't know that
in exactly I've? I fear I do I've read agenda. Twenty thirty preserve thirty percent of all federal land by twenty thirty
it's not good. I don't know exactly what that means, but that doesn't sound good yeah. It doesn't sound good first, let's talk
but the wind that you had tell me about the law suit when and what it means.
So we had an agreement that we signed with the departure of home.
Security recently that said that if they were going to change major immigration policies, that we were gonna be provided notice and so
obviously the executive order that came out that ended all deportations than the imitation for people.
Cross. The border didn't beat those those requirements.
And so we follow a lawsuit on credit by the third day, and we challenge that executive,
or that this paper that agreement, but also based on the fact that federal law requires him too
certain things he is said now
He will not do and
so we argue that evaluated federal law and his constitutional duty to enforce the law that now exists, and so
did the judge say for the journey basically gave us. We were asking for
preliminary injection temporary injection first we're going to
injection next, and we did that because we had
there was harmed the state of Texas. If this website
And while we were litigating the merits of the case that we have won the merits of the case, we merely
A good argument showing that we will suffer irreparable harm they state. If this goes forward- and it is
the hard for us to show that, given that we really have a mass of people coming up
southern border essentially have have
because we have other communicable diseases that potentially are criminals and that will cost the state
taxes, billions of dollars and so that harm
hard to show, in my opinion, so
How are you going to argue for permanent
especially with the way this administration is moving, where
social Justice- outweighs everything. Well, it's it's gonna be pretty much. The same
just to say we are going to suffer damage. We need time to to have this question answer as to whether the press
value federal law by stopping the
in the implementation of what is better law is. Is it can he do that and that the argument that we need
will be harmed. Still it's its exact same argument just that we need longer to decide the merit
so, but but but but wait. What? What I'm saying is if, if your arguing and
you, know, Biden? This is all changing. Now we're not talking about rule of law anymore, we're talking about social justice outweighing absolutely everything
if they win an
you can just say we're, not gonna. Do any of that.
He? Isn't that what they've already done with with you know we're not going to enforce? You know bust,
So I have, and they already done that and if they do
this in the courts. Then doesn't this
in some ways a dictator to where he could just admitted
natively do, whatever the president can not just Biden but any present it could just do whatever they want and it never has to go through legislation. No
you ve hit the nail on the head and it means little
Congress become almost irrelevant. The court's become not the relevant member states.
You're supposed to have all these powers reserved to them. They are not.
Typically granted a failure, but also lose their power. It does become a real focus
One person having all the power
clearly was not what our framers intended
so can I talk to other attorney general's around the country, and they are
just as concerned as I am and
I'm I'm wondering I know, many of them are all working together to try to stop this onslaught. But is there
Is there any conversation about a
sanctuary state of of
not secession or anything like that, but just saying this state
it will not violate the bill of Rights and the constitution. And if
you try to do these things that are unconstitutional
This is a safe haven, a sanctuary state for rights.
Insisting that conversation has not come up among eighty specifically, but I was at a conference with technology leaders around the country and in most
there were actually wanting to that by saying they were either concerning,
they were on their way or they had already they D, Texas or forty, because they still like those were states that they can go and be safe, and that is that this, the risk in the states that therein
is, is becoming untenable for them and are trying to find a safe haven.
It will be where their rights will be respected and they will have continually opportune.
It is to work in
We do that they are already talking about. You know of your
de persons that you won't work
The head of master card,
Yesterday we don't have to do business with just anybody, meaning
if we don't, if we don't like the business that therein, we can just say we're, not
business with them anymore, and this is a growing trend and when it
to businesses like mine or
for anybody that is unpopular. This
is extraordinarily dangerous. It are the states will Texas
Stand behind the
the universal God, given rights that we have always stood with.
We will in my office. You know I'm part of horror, the end
state, I'm not the entire state, but we will at my office. So we are now investigating the five companies
These were related to the parlor, the Platte forming
because we want to understand how can the hour they do, how do they have the authority to the deplatform a whole company, because I disagree with their their views,
disagree with the people that they allow to speak
are you and the governor having conversations at all about critical.
Theory to make sure that's not being taught in our schools. Well, I haven't
This conversation, I that's not an area that I can do much about it
three general unless there's
specific violation of my job is to enforce. Whatever laws we have, so I always have to look for
by way of getting into court. We tell we can teach discrimination in schools can we know, but that that would be,
probably if they were tv discrimination off good luck in schools? That would be a
finally, a lawsuit by at Agree Party, a student apparent, hey, Ike, Ike
can't do this in the school
and it becomes
your purview was so then it
who asked me to represent them, and I think there are now I cannot represent you. This is a legitimate lawsuit and an easy to be accountable for doing the right thing.
Do you have any advice for what the average person should be doing right now in their state? Absolutely, I think they should be speaking out. I think that
the more voices that are speaking out, because what is going to happen like authorities that they go after the president and people are saying anything. If we, if we keep quiet,
right now. People are afraid to speak, which I see some of this. She fell in a
My fellow ideas I see this in a lot of circles- are people
that if they speak out, they'll be the platform, but they'll be canceled. So if we don't all speak out, if we don't address these election issues and states where they weren't following their
our own laws? We have to address that now, or it will be too late. They will come and deeper for all of us and you think
Hide from that you're not gonna die from it. They may get to somebody else, burst
unless we are all working together, it's gonna be a problem.
Can thank you very much that you further. Thank first
hang on top of things and thank the
but our forests as well. We are counting on our state wraps and our governor and you to stand and fight the good fight against
or this onslaught that is coming our way quickly.
Fiscal and if taxes does fight. If we are in the middle of this fight, I don't think we have much hope. I think its taxes have been defined.
Texas has got us, I mean I've, dive talk to sheriffs and they ve.
If I have to deputize every single citizen in my county,
so they have the right to carry a gun, we're not backing were not backing down. It's got, Texas must
I mean it's really sad. I talked to Christie, no man, I'm like I'm a little embarrassed. Taxes should be knocking,
into the dust right now,
we need to be Texas. We need to stand to be very clear and be a leader for freedom.
Supposed to the allegory? Thank you very much appreciate it.
An attorney general of Texas, the best of the bread back program if you are ready for some really great news, keep listening built bar is back and it is unbelievable if you've been listening to my show this year. I love built bars, it's an all american story. This is a client I asked to be on the show, because I didn't listen to my wife again and she's been telling me about it, but it has protein bar on and those always taste like a doormat. This is unbelievable. The mint brownie flavor, oh yes, baby! It is life. Changing the new bars taste better than ever. In addition to the twelve original flavors built bar just added cookies and cream carrot, cake, caramel, Brownie, Lemond, Almond, cheesecake, Apple almond, crisp, I mean it's just it's great built bar
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Like the masks, you know well
one mask is good to mask, is better one, no three one, no seven one, not twenty five
same thing with me with minimum wage. Why should the minimum wage be something really living
and maybe you know something that includes like worth where you could buy house may be like sixty thousand dollars a year. I mean
Can't we just do that. Why stop at fifteen?
Brian realism with Us Assisi, a senior fellow, the Manhattan Institute, he's a guy who doesn't care whose in office Republicans or Democrats,
he he points out both of em suck when it comes to actually living by the budget, and we want to talk to about the fifteen dollar wage and also how long can we lasted these kind of spending limits?
we go to Brian now I brine. How are you,
When? Are you very good? My way I forgot to mention, you are also one of the researchers and co authors of the book broke, which was fantastic. I at least they tell me
great book. I was honored to have helped in my own little way, thanks Brian okay, so Brian, let's talk
the fifteen dollar wage, what we
that due to the nation
RO. The congressional budget Office said that, even if we did it gradually
during an economic boom, it would cost between
point three and three point: seven million jobs. Instead, there are talking
doing it during a recession, which means you're, gonna lose even more
not even the worst of it, they would
also raise the tipped minimum wage. You know what waiter than waitresses make from two thirteen fifteen dollars
think rough ride for going through white. Now, restaurants are going through
there was a crisis in history. Millions have gone under many, others are on the brink of bankruptcy, and the solution
stimulus bill if the increase their minimum wage by six hundred percent. It is economic malpractice
so Brian explain to people who don't know who don't understand
you know these big companies, they could afford fifteen dollars an hour,
explain why this key,
cells, their jobs, because not
we couldn't not all big companies can afford it. You know it profit margins, art that big an especial
small businesses really often cannot afford it, especially in low cost places. Like Mississippi importer, we go
You know they tried raising the minimum wage really high import Rico about fifteen years ago, and it cost something like forty percent unemployment
point even have companies cannot afford it.
It doesn't mean they will because it ok.
But charities? If they're going to take a loss,
on an employee. If that
employees, only worth ten dollars an hour they're, not gonna, pay them fifteen, even if they can afford it. What they're going to do?
with which to automation and that's what
the higher the minimum wage goes, the more
likely it is that you're going to walk into a taco bell and go up to a little machine and press a lot of buttons. In order to get your big MAC, I mean
it was the old, the old, auto, Matt or the old. What is it automatic, I think, was the
restaurant up in New York, where you didn't have anybody waiting on you back in the nineteen thirties? Now, there's no one behind the machine to stuff the food in now it will just be a machine and
would call that progress anywhere else, but
because it's gonna put people out of work. Now it's go. It's cool
devastating to the economy, especially when you have truck drivers who are gonna, be the first on the block when automated trucks are everywhere on the highway, and that's it
the plan. You know Andrew Yang has been saying: we need universal basic income for all the jobs lost to automation. Well, they're, speeding up the shift to automation by essentially banning all jobs that don't pay fifteen dollars an hour, you're going to put a lot of
people out of work then were discovered
but a trillion dollars on their under universal universal basic income, so so you're going up paying for that too. So the
their there, there are places like in New York City and not today, their places in New York City with fifteen dollars an hour
you know you ve gotta, you ve gotta pay higher. If you're living in in New York City,
but there are also places all
where the country, where fifteen dollars an hour is,
quite a whole. This is why fifty
dollars is crazy for a it's not sensitive to local, to local local conditions. You know Seattle and San Francisco can afford it
much easier than places like again Mississippi
or we go where prices
a lower wages are lower. You don't eat in Mississippi
average manufacturing job doesn't even pay fifteen dollars an hour forget fast food
Even in manufacturing job doesn't pay that and that's why. I think that the butter,
solutions leave minimum wage up to the state, some states have been raising their minimum wage. Some cities have been raising their minimum wage, other cities and states with lower costs, haven't because the
the local elected officials understand a little better, the local
economic conditions and needs of fifteen. Our national floor is: is it wouldn't bonkers coming out of
Washington tell me about Seattle, because the initial response was this is going to put the restaurants out of business. What is happening
to Seattle, since they put this in here.
Has done a fifteen dollars wage and it has slowed down employment. Certainly it hasn't caused an epic crash in the state, but the employment growth over the last couple of years certainly slowed down there.
Somewhat of a shift automation. Even the trade off exists in Seattle, it hasn't caused caused. The crash
but there has been a definite slowed
in the growth of lower up a lot of the jobs that are affected by the minimum wage. So
we have, according to President Biden, now a eleven trillion dollars in new spending over the decade, they're no longer looking for the offsets he's saying that three trillion in new taxes
will help offset that
Can we we're just we're printing money
right. I mean we're really on
modern monetary theory. At this point right without calling it that we are in fact less
when we ran a three point: three trillion dollar deficit, two thirds of that was funded by
the Federal Reserve was funded by the printing press. So we are printing money, we're not taxing it, we're not even really borrowing it we're funding it out of the printing press right and you're right I mean what Biden has proposed is eleven,
trillion dollar than new spending over the decade, you know to put that in Contact John here
proposed to a trillion over the decade? No four Obama proposed one trillion. Hillary Clinton proposed two trillion. Then Biden proposed eleven trillion,
it shows that although
and ran as a moderate. Today's demo
party has shifted so far to the left, that eleven trillion dollars sounded like a moderate is a huge amount and by the way that eleven trillion that's on top of the baseline deficits of,
Fifteen trillion dollars over the decade, so really
I run total deficits of about twenty six trillion over the decade. Is that number
optimistic to Brian. Does that reflect reality, even twenty six trillion its optimistic in that those
members were before the recession and are also assumes no interest rate hikes tangley. These numbers did the disk
We think about all these numbers if they assume interest rates they low forever, and let me tell you if interest rates rise, one point
higher than the congressional Budget Office assumes. That would add.
Really in over thirty years in one cash,
wow. You know people say this is not viar, it's not Zimbabwe and it's not yet it wasn't imar until they point, and then it was like oh my gosh, and
too late Amy
and it becomes to laid me- we are headed
me. If I'm wrong, we're headed for a Zimbabwe or a Weimar. If
Don't stop this
at some point right
The absolutely unsustainable I mean in total, the congressional Budget Office
hundred and four trillion dollars in deficits over the next thirty years, even before the
even with low interest rates,
trillion over thirty years. You know, you add in a little interest rate, increase you added what we're going through right now, you could be up to a hundred and fifty trillion over thirty year, so some numbers are so big public monopoly money, any we'll be Napoleon opulent monopoly money. At some point, the system can't hold
up, and that could be in five years.
Nearly ten years, a lot of really depends on the bond market to the extent that the bond market
lending Washington money. At some point, though, gonna say you want to stop lending you. We don't think you're good for this. This is ridiculous, and you're gonna
have to pay us twice as high.
Interest rates, to compensate for the risk at that
Wait you get into this vicious circle. Were Washington
the pay higher interest rates in order to attract lenders, which only makes the bar
in my work, which makes it even more of it, which requires even higher interest rates. At that point, I think what
happens, is Washington, says, okay, forget finding
lenders his just going to use the printing press and that's when you
looking like a Germany. Didn't we already kind of hit this in some ways I mean, I think it was over last summer or the summer before
We offered bonds and nobody took him in the then. The FED just started buying them
in the short term or facing that right now, because it with deficits three points,
trillion dollars last year could be even bigger this year. There just isn't enough people buying bonds,
For that a matter of fact the number of
when you're getting internationally
borrowing has been pretty much a zero. China and Japan have not been buying or bonds at all and domestically either
isn't enough savers in order to pay for all this. So right now we're facing real debate,
running it because we we can't find three
Four trillion dollars a year for for domestic people, put a lesson to us now. Hopefully,
session ends. The deficit
was down to only one or two trillion dollars a year. I could only an air quotes, that'll, be
little bit easier to finance, but that, but it is not
sustainable long term to keep borrowing one two three trillion dollars a year. Have you seen what's happening in Davos with great recent
yeah. I know I know everybody's carrying such a heavy load. Yesterday they said all we need is fifty trillion dollars
and we can, we can do all these things, fifty trillion, let's
like we're. Politics are right now, you know a couple years ago,
I wrote an article that said the Democrats. Proposals would cause forty two trillion over ten years and people thought I was crazy
to use a number that big, no one, would ever propose that and now
these numbers are old, hat Green
who deal Medicare for all all of this stuff we were here,
fifty hundred trillion dollars thrown around like they're, nothing thanks
so much Brian I'd love to have you on again, but I need to take some medicine here before I talk to you again, Brian. Thank you so much. I appreciate it we'll talk again. I would like to go in a little further on what it means when the dollars
to to lose its value and and who really gets hurt. It's the people played always the by the rules and people have their money in a savings bank
alright, brine! Thank you so much appreciated
that stuff better than anybody. I swear he's a great follow on twitter at Brian Underscore real. I believe it is r I e d l
great place to go because he's got this stuff and he's been saying that the whole time you saying it very president, don't buy
even the three in Trump through Trump, all the all time,
conservatives haven't focused on the budget here in the debt for a while, hopefully
to return here with Biden as President, because it's really important that is, I mean that is the one good thing about the Biden.
Administration is at least conservatives will start paying attention to the debt again, some people find their faith. This is the best of the Glenn Beck Program and we really want to thank you for listening. I want to go over this game. Stop thing again. When the stock was at two dollars a share right two dollars a share,
these guys on red it they
We decided that
They were gonna run this up. Now. If I did this on national radio, it would be illegal
can't say: hey everybody, let's do this, but apparently on red it you can yes public
public openly. Speaking about your opinion on a stock is fine,
in private venues is usually not fine and
secondarily doing it, FCC has all sorts of laws or how you can do that correct and different. So let's say you invested yeah
the two dollars stock when everybody was out on rather there like hey let's,
let's by this up,
the guy the fur invested. Fifty thousand dollars has lifesaving. Supposedly
sky and read it and then started talking about this theory which, as
proved to be very, very accurate
so as of yesterday, it was up to fifteen million dollars. It was worth
However, the stock is basically doubled today,
so this is crazy to sink in saying it is craziness in out that that we are putting billionaire hedge, fair fund. Investors out of business may be shutting down. There's rumours of bankruptcy of this hedge fund. If this
happens, I mean these guys are not going to be happy and they know a lot of people by
a few these guys really to get very, very wealthy off of it? I wonder what the repercussions are going to be not just for them, but when
macro start saying this cow. I will look at how bad capital is eyes. Yeah, that's around the corner to stool, have more on that at eight o clock eastern tonight on stew. Does game stop man tonight
my Wednesday night. Special immediately follows nine pm eastern Blaze. Tv
Transcript generated on 2021-07-18.