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“Katie Porter’s stock tips.”


Republicans make Joe Biden an offer he can refuse, the race to vaccinate America is on, and the new face of the GOP is a QAnon school shooting truther who believes that wildfires are caused by Jewish laser beams. Then Congresswoman Katie Porter talks to Jon Lovett about getting people access to mental health care during the pandemic and why the GameStop drama should lead to tougher Wall Street regulation.

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
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I welcome the Plaza America John Fabric, Anja. Another untie me later on today's part, we'll talk about our Republicans have made Joe Biden and offer he can refuse the race accelerate America? In the new phase of the Republican Party Marjorie Taylor Pre, then love it. Congresswoman Katy Porter about why the became stop drama should lead to tougher Wall Street regulations. Look at. How is how is your show this weekend? great lover or leave it. A sweater ll enjoying touch a brain boiler about by parties, chip in Congress and
We were in drivers and talk to you about that at whose, at what The first and then we were interrupted by the filibuster very good. Also if you aren't subscribed already be sure to check out are what a day newsletter written by the book, oh yeah, Sarah Lazarus, who gives we quick, accessible hilarious recap of the days news. Some people are even saying it's funnier in the Biden Minister, so subscribe to what a day newsletter today at crooked dot com, slash, subscribe and finally crooked, meet his own doktor Abdul outside host of America. Dissected is out with a new book. Today. It's called Medicare for all citizens guide its. He no nonsense guide to America's most debated Paul see in waiting order. Yours today, at Medicare for all book dot com check it out cuz. I really a glut of of nonsense filled guys to Medicare for all out there, I'm glad we kind of he shaped up here. I got skills
The answer is a nice friends, Girt Rachel dolls. Let's get to the news on Sunday: ten cent Republicans wrote a letter to President Biden that basically said, see you're one point: nine trillion dollar covered relief plan and we would like to offer people a lot less relief. These Six hundred and eighteen billion counter proposal includes a hundred and sixty billion dollars for fighting the virus in distributing the vaccines. That's like guidance plan. Everything else is different. They do a thousand dollar checks for individuals, making fifty thousand dollars a year or less a smaller expansion of unemployment, insurance that also cuts out three months. No funding for it, local governments, no increase in the minimum wage, no subsidy for childcare, other publican also asked for a meeting with Biden, he said sure so their gathering at the White House today for a quote full exchange of ideas what fun. So Joe Biden campaign in a promise of unity, city
work with Republicans now tend to them have brought him as counter offer, which would give Democrats the sixty votes. They need to pass a regular piece of later nation love it. Why not sit down and hammer out a deal? Make me I'll Reagan and Tipp on your part, I is any round- was sitting down. I think there's nothing wrong with having the conversation and then saying. Well, this isn't enough cause of the crisis. The big economic crisis that the economist I'll tell us. We need to put a huge amount of money and to fill the whole state. Local fill the help. People with unemployment, help people with these checks and you know what you are proposing is not nearly enough halfway between what you are proposing an on proposing is not nearly enough. You dont neurons. Addressing the crisis and so in the spirit of unity, I will respect you in good faith bid, you adieu passively. The reconciliation and then trust you not to burn the capital them again If we set up a process for unity,
tell me, how do you think the by folk should handle this, because now that the Republicans have reached out, you know we get your ears the headline in politico today. How serious is buying about bi partisanship, we're about to find out somebody advisers, starting to argue that Biden can pass the bipartisan test without republican votes. You read that right. the media? Read you read that right. Really had a renders rach he's gonna, be forced into corner now. Everyone expects him due to be by partisan and they're gonna com, a failure, if it's not by partisan hot. How should the White House handle this? Well, let's go back to the beat him like a drum Joe Biden cause. He also said that allow me rather too low. I do not know what I have not heard: a single economists, not republican. No experts say that six hundred billion meets the moment and does enough, like you said it's about this,
not for vaccinations and p b in that kind of stuff, but the unemployment insurance example, I think, is very important, because Biden wants to take the amount of unemployment insurance per week and go from three hundred to four hundred dollars and he wants to extend that programme through September. The new proposal keeps the unemployment the rate at three hundred dollars and extensive sent through June. No one thinks we're gonna have the pandemic under control. By June, we certainly We have an under control if we force people to go to work at jobs that put them at risk and continues spread of the virus, and I think that's why that the the coverage in washington- and this has been so frustrating- I think, The press, a lot of folks like pundit, spend a lot of time worrying about bi partisanship. If that is an end in and of itself, it is not. Joe Biden was elected to handle the corona virus if what's required according to experts is closer to one point. Nine trillion
and that they should go for that. I think the real risk is that you construct some small bipartisan dough that includes the popular stuff and then, when you try to do a secondary through reconciliation. You might even lose some of the more modern Democrats and can't get that done. So I got out the gives a choice but to take this meeting, it is good to have conversations. I just think that the risk is getting bogged down in a negotiation with these guys. Losing time
states or starved of money. We don't know vaccination set up. You know, like that's the disaster yeah and I will say it doesn't seem like at least from everything were hearing from the White House and also from Democrats in Congress that they're gonna waste much time on this there all talking about how do they need to move fast? So bitterly a lot of lessons have been learned from two thousand and nine. I am grateful to the Republicans for this offer, because I think it is a great job of spelling out the differences between the two parties like in twenty seventeen. They were all willing spend a lot of money on a pretty unpopular, partisan Republican. Only bill they gave a huge tax cuts to the rich. Now they are unwilling to spend a lot of money on a very popular bill that gives economic relief to the whole country, and so like that. I also think by the way, so that there is a republican senators that had been talking to the White House they tacked on to more so they could make it tend to show okay, if you, if all these ten were on board, we has through through regular mobile
These ten Republicans there did set up like you got Fuckin Shelly, more Capito, Jerry, Moran Todd Young in Indiana, like Miss, recalls let, in these people vote for a bill. You always would have in funding for Joe Biden to be like yeah accepted now, let's vote on it because the problem you wouldn't get those ten John, I just want to say you could have thrown in a fake name there and it would have just blown right up. I was I was known about it. I always in if you'd have been raised. I could have caused me if you'd charisma and the two centres from india- and I would not know or my grounds whose my grounds centre from south gotta. I'm ok self
that would, by an ultimately win by not only decide to go the reconciliation route. He suggests continue talking about how this piece of legislation has both by Parson support in the country among voters which we ve seen in our poll shows about seventy percent of people supporting including foreign ten trumpeters. It also has by Parson support among governors and petitions outside DC? You had the republican Governor West Virginia today saying we need a lot of money spent. Even if we spend too much money. That's not the danger. The dangerous spending too little bears bipartisan support for you like he should talk about how the bill has by heart and support everywhere, except among republican politicians in Washington. Those are the people on their own, and you know I like there is like trucks. You were put out a statement over the weekend that, like said it so plainly like we're. Not gonna, do not do enough cause that dragged out the recession. in two thousand and nine and we're not gonna get dragged along for a long process. The Republicans cause that's what we did and on Obamacare and they abandoned us
at the end. So it's like yeah we're not gonna, do a long, dumb process to try and get your votes for apple of fully once or twice or three times, four times a five times, but that's it eventually, financial. After this sequester, no more foolish Maui figured it out or unknown years later. We are. We are under your game a decade later, but better late than never so biting doesn't need a bipartisan bill. He does need all fifty Senate Democrats on board, including more moderate senators like Arizona is yours and Cinema in West Virginia Joe Mansion last week. Vice president calmly, Harris did interviews with local new stations in both those states is awaited. Widens american rescue plan. This did not sit well with Joe Mention who told the reporter COS. I saw the interview, I couldn't believe it, no one! hold me. We're gonna try to find
bipartisan pathway forward. I think we need to, but we need to work together. That's not a way of working together Tommy. What was the weight? Has a strategy in sending come out to do those interviews and what did you think of mentions? action. Porto mentioned, I didn't know there are manufacturing fainting catches in West Virginia now. Look this is politics one or one leg white ass, you do local tv interviews to build support for a legislative priority, I saw some of the reporting on this yesterday. Rights specifically politico referred to it as an F to troll Joe Mansion as they go, my god. What happened in his interview, like did she like, read an opposite in research file on him, and then I watched it and it bitterly It wasn't the cleanest nerve. You come on earth ever done. She was asked about by climate change plan and what it would mean for coal jobs and Miss spoken said something about clearing abandoned land mines and set of coal mines. I think those like little clunky but mostly
we focused on job creation. How the covert relief, though at work, how the white US wants to prioritize vaccine distribution, how they want to open up schools is substantive and should like talk a little bit about West Virginia specific stats on power, me or small business closures, but it was not about your mansion at all. I don't know his name was even mentioned, and suchlike. seems like a wild over reaction by mansion in the meat he's a senator from West Virginia he's, not the viceroy sent by the queen's regions like here. What what would you not in addition blow off my local press, nobody's nuclear, do local news in West Virginia without first getting the getting the same self from. From the boss, yeah and unfair. Russian right is like. Is this a smart way to build support in West Virginia for the policy and make it easier to get your mentioned vote? Judging by his reaction corps really? It was not, but if you really look at which all mention is saying about the legislation he's being pretty positive, he seems folk on targeting the direct checks. He thinks that
maybe at the mere family, the next three hundred thousand dollars? Getting a check is too much new wants a lower it to fifty thousand. I would argue that insufficient, especially if you're in a state with a higher cost of living, like those are very reasonable policy discussions to be had in a night like some blow up, as you might think, if you read politico dimensions, ration was ridiculous. I was there. I would bet that the White House legislative team was not super. Site about the strategy empting couple out to swing states. For that, because I, like you, re like building popular pressure and West Virginia, is not the way to get your mentioned on board. It's probably calling him in making sure like everything is wonderful with fuckin German should look at the fact that no mention has all holds all the power here. Incursions involved. All the power here is an indictment of
Do we have like a shitty political system, but it sucks right, but, like that's the reality, we're living in Germany has an enormous amount of power, and you like have to keep your mentioned happy all the time or else a whole agenda that can help a lot of people can can die, which we don't want it reminded me love it were you still in the White House when we wrote the famous budget speech about the Paul Ryan Budget and he was in the front row Barack Obama. Bridewell is going to deliver a speech and American University on Paul Ryan. You remember that, and we we had a great time in the speech like just attacking Paul Ryan on em thanks, I made you know it's killing, grandparents, all the good stuff and the legislative team did not make us aware until the speech that Paul Ryan was good. We sit in the front row surgeon and so brag Obama goes and delivers. All these heads about Bahrain's budget to Paul Ryan's face at the event
was not a great way to earn bipartisan support, just as a just as a lesson that we learn their. He would have been all for. You had been I'll get the agenda, otherwise the What other relevant. They know. Tommy Timey these robots like For years now, the republican tax cut punished blue states that are more expensive to live in their proposal to lower the threshold, for the Czechs will go to our design to punish state
the higher cost of living, and it is a reminder that, like even when you see someone like your mentioned for some policy like that that, like the warping that the Senate does in the way that its anti democratic happens all the time, sometimes it's partisan. Sometimes it's not, but it's interesting that, of course, a Gruber republican centres. Wanna like don't, have a problem lowering the threshold to where it would not help people in a ton of places that desperately need that help. But, like you, don't Tommy, yours is doing for all the concern about your mansion on this bill, intervention on a whole bunch of things, like filibuster, other shit, he does he like he was an interview. Even before this interview with a vivid Kamel Harris Interview, thing happened, saying a million times calorific. Would you vote for the bill for reconciliation, support this and he said like ten different times. I am going to make sure that Joe Biden is successful. We want to make sure your by Miss, except for which tells you like what you need to know about where dimension, since just doing an owl tax he's doing the right thing to do is politics is
mansion and cinema? Maybe a few others gonna like take the price tag down a little bit from one point: nine trillion, I hope not, but they might cause again. They hold all the power. You need their fuckin vote so hopefully, hopefully, though, he he comes through and and supports the bill, as is so what are the binding ministrations main arguments for the size and speed of their plan is the urgency and magnitude of the crisis. So, yes, cases in hospitals, Asians are falling and we now have a bunch of highly effective accedes, but we are also racing against the spread of a number of covered mutations that are much more transmissible in at least one case more resistant to the vaccines. So we can still control these new variants if we vaccinate everyone as fast as humanly possible. But we learned a few stories over the weekend at the bottom, Ministration has inherited a bigger vaccine distribution mess than anyone thought under Trump. The federal government failed to coordinate with states on almost every level, from helping
staff acts nation sites to literally tracking vaccines, politico reported that the trumpet ministration communicated so poorly, which states that the bite him initiation is now trying to track down twenty million doses that are unaccounted for. Twenty million they also find out after negation data Companies producing the shots were nowhere near capable of turning out as many doses as the Trump folks had projected so Tommy. We spent a lot of time in the Obama administration talking about the crisis we inherited how much and for how long should Biden do the same thing with regard to how badly the administration screwed this up? What can you get away with their swedish blame it on the Iraq war as our you're suggesting? Yes, it's not me. I think you You can't really talk about where
you are and what you're doing to manage the corona virus? Without talking about some of how we got here in some of the stuff trump screwed up, for example, the the money for states would be less urgent if the Trump team had an actively lobbied against giving states money for vaccine distribution. In the last couple covered packages, I think there's relevant context rate, like our testing regime, wouldn't be a disaster. If Trump hadn't decided that more testing was bad because bigger numbers made him feel bad, but I think that's more contacts than it is pointing fingers. If that makes sense in me, I think he's gonna he's gonna eat a lot of political fall out for Are you the conditions that occurred before he became president, but I think every single president does that I think his focuses gotta beyond what we're doing now. They want to hear about incremental programme We all want to hear about light at the end of the tunnel, I'm speaking for myself now that that would be my advice not to spend a lot of time about the Trump era.
You know if you like, a gents hockey's rethink. Today she got some question about Trump on social media and you just like you know. We have spent a lot of time. Thinking about him. To be totally honest, we have- and I think that is exactly the right time- love it took two Tommy's point by demonstration is trying to fix a supply issue, a demand issue, a distribution issue. At some point. They have to figure out like a way to get people booster shots that can help protect against the new variant. So they could they lock on from a communication standpoint, how should bind balance the need to be honest and realistic about long and hard? This might be with the need to offer some hope and optimism to a country that is tired of this shit yeah, something we also to deal with NEO bomb await us. Remember like we had to calibrate every speech, everyone I just like we're not out of the woods yet. Yet we ve made progress. We ve seen strides Trump, of course through that out the window.
Yeah I mean look. First of all it worth pointing out that January was the deadliest month. We ve ever had right we're out like a hundred thousand deaths, so the full consequences of the failure of the past year are still kind of coming into relief, not just in terms of what the by administration is learning behind the scenes, but in the sort of the the ongoing economic devastation, the ongoing spread of a pandemic I do think in terms of what they ve been saying about what their learning is really just about, establishing a baseline right, they're trying to say we will do our best to get the vaccines out the door and get it as many people, but but we do want to make sure there is an accurate accounting of the baseline, weak, Given that all the talk about operation warp, speed, here's what we started from- and I imagine that there are some spin and their right- they're gonna, go hard to try to make the case that they inherited and incredible. Mass was at which I am sure they did. First of all on the variant front, I think that, like there's a lot of very sensationalist Dick report,
it's hard to parts which really going on one thing that does seem clear is as we learn, that some of these vaccines are less effective against some of these variants. They are still above the threshold by which we would have declared them a success. Have you not heard about the incredible success of Madonna and Pfizer it whatever? It is? Ninety four. Ninety five percent. I do think it is really hard when an administration spent a year poisoning people's minds about the best way to respond to a pandemic as a society, not from the government. I think that's an incredible challenge they ve inherited. I do wonder if now is the time, especially because people are giving up on the ways in which they can help prevent community spread right at the moment with.
Vaccine is being rolled out. What we ve just now crossed the threshold where more people have the vaccine then have had the illness. We ran a million, and one point three now one point: five like its rising like things are changing things will get better and I do think that, like I see them, not wanting to over promising under Deliver Biden goes out there and says: will tuxedo by spraying in the White House, is like well, we don't know about spring and Johnson Johnson what we don't know how it's going to come out, but I do think kind of a saying, like we are almost at the end of this. Just hang it on her just to there's no way too much doom and gloom bullshit ass strains like look what what what How can I desire fire success stories are terrifying. Let me then Lenny unterrified we're doing that reduce its efficacy rates on Sunday. Actions against the south african strain or submit a shot. It's fifty percent effective. That's like a standard flew shot, so the bottom line is all
accusations that we ve all that data is reducing hospitalizations and death to basically zero and then preventing fifty percent of the transmission. That's a miracle! but we should talk about. It accordingly can be along couple months, but I dont think that is as much to do with the new strains that, unlike there hence in booster shots and all this stuff or hearing about now than just the logistics of manufacturing in disseminating the vaccine. If we get that part right, you reduce deaths, you reduce infections, you stop! virus from mutating, so you won't have any more of these conversations. Good. Oh it's not like running rampant, yet the EC, I am going right and then in concert with that, you give people economic reliefs that they need to hang on through the summer all the pieces. Are there? It's like say I'll, read the stuff judgment. Johnson is a hundred percent effective at
paintings, hospitalizations and death, which is huge even against the south african variant right. I think what, when you talk to people at the bottom right, has it it's? It's not just expectations setting its not just spend their concern. Is the CDC has already said that in March the UK variant would be the dominant strain in the country. Here it's fifty percent, more transmissible. If a critical mass of people were vaccinated. At that point, we wouldn't have to worry as much about it. Right like a critical mass of people learn erects aid in a country like Israel, the UK strain is all over the place there. It still working, I think, with their concern about is over the next six weeks. Eight weeks, ten weeks, the UK strain takes over here, it's more transmissible
still haven't gotten the vaccinations up yet, and so we will see another spike. That's what they're trying to prepare us for which I think you know, is it as a real, genuine concern. Again, though it all in time he meant it all comes back to. We just they just gotta, get people vaccinated faster and they gotta move Heaven and earth to do it and I think bind doesn't have to go out there and be a barometer every day about whether things are good or bad or in between right. Like weeks, I think we made this mistake with Obama. Sometimes it was here is exactly the state of the economy. Every single day, like the present does need to be talking about that were by needs to be doing, is talking every day about what they are doing to fix it right and like he needs to get pissed when things don't go right and he needs to show us that he's fighting like any needs to show people that he's running through a brick wall for people and keep announcing progress. Re like today, they announced thirty dollar rapid at home, covert tests that are ninety five percent, accurate that their shipping too few notes incremental progress. Like that is going to be important to talk about every single day
that's right. I guess I I I think we're combining two things like one is the messaging around. What actually going on that's realistic and honest, doesn't over promise and that's really important. We can be hoping to look We're not we're not in control of what strange emerge right. We're not. We don't know what the future holds, but here is really know what we can do, but the other piece of it to me that I think is important, is you know everybody fucking, sickness and people are get up, and so what is the best thing to tell a country that has been lied to me that the people who have sex rice feel let down by other people who haven't. You have health care professionals who are out there and you have like a mental health crisis of a financial crisis all of this happening at once, and I do think that there are some space for just some like lighted that we're almost we the end is in sight. If we do these things because the vaccine yeah, we need the role, the vaccine out, of course, but like mass and social distancing, still fucking work, and abandon them. You know tools
in spite of the country with abandoned them. So I think that stuff, what I'm talking about it just like. If you can, if there's just signalling to people that that that the time is short and that if they sacrifice a little while longer, because this seven or eight we period at the other piece of, is that, like the next few weeks, and are even more than the weeks that follow right like if we can do next think for next forty six David's, wherever the numbers are based on these studies, like a huge amount of death and a huge amount of pain, is prevented. If we do it right now, action is wrapping up this episode open America has brought by public goods the one stop shop for society will high quality everyday essentials made from clean ingredients at an affordable price, everything from coffee to toilet paper and shampoo to pet food public goods, as you knew everything store thoughtfully, designed for the conscious consumer rather than buying from a bunch of single product brands. Public goods members can buy all of their premium essentials in one place, with one beautiful, streamlined, aesthetic, public, good searches, the glow to find clean, healthy, eco, friendly and innovative products.
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to block a resolution, kicking Cheney out of leadership, because she voted to impeach? The guy who incited a violent insurrection, he'll also meet with Green, whose facing calls to be expelled. Congress after CNN and media matters surface some old social media activity where she liked to Facebook posts calling for the assassination of Nancy Policy, an FBI agents heckled, parkland survive. Hers and blame the California wildfires on a space laser controlled by a jewish family Green so believes the queue and on culture is worth listening to that Muslims. Don't belong in government that night, Levin was an inside job at parkland, sandy hook, shootings were faked and that the zionist supremacists are encouraging. Muslim immigration is what she said. So most of these comments were known. When she ran in one election to represent the Fourteenth congressional district in Northwest Georgia me what can be done about her now already freshened democrat cord bushes asked for her office to be moved away from greens for safety reasons.
I mean it seems like there's three options: you can expel her from Congress. That takes a two slash three vote, so it seems unlikely you could send her her, which would just sort of condemn I think that as a bipartisan support- and then Democrats are now saying, if you dont stripper Saint Kavin Mccarthy, if the Republican Party want stripper of her committee assignments, they will do it for them she's on the house, education, labour, the help, maybe she's on the labour, many education and then the budget committee? So you know some powerful places yeah, I saw a guess, I'm politico today they said it far if the guy, if the republican carcass in the house ends up stripping list Cheney from her leadership, but doing nothing about green it'll, be a real black eye for them heading into one needs
now I would, I would say so that will do to marriage for you, Kevin Mccarthy, so love it got a broader question here. Green got a lot of coverage and attention last week is bound to get more. What do we do about this? Going or should we ignore her actually maker the face of the republican Party? What about you know It's your look! It's the same problem we ve had in dealing with Trump. For years, you know: what do you do when this person feeds on. Attention and outrage and yet also speaks for a huge percentage of the republican Party? At this points and, as you just pointed out, is more ascendant, then then the group of ten House Republicans, who had the audacity to tell the truth and vote to impeach Donald Trump
TIM Miller wrote him in in rolling stone about what these ten Republicans are doing. To try tat like start fighting against this radical rabid conspiracy minded wing while really the Republican Party itself and you read it and mad. It just has just some very strong, Alamo Vibe, so just a group of people facing a this racist, anti semitic, conspiratorial group of people and the huge mass of cowards I'm going to take them on. I am Kevin Mccarthy would be quite relieved. Democrats remove someone like green from the from her committees because it spares them, the embarrassment and headlines that she will surely create when she's on those committees. That said, I
Is morally irresponsible to treat this person she, just as you know, a different set of beliefs and teach the controversy, so I think we have to condemn it. I do get to use all of our power to condemn it. I think we have to isolate it and try to get rid of it. I have not against of egg, I don't I dont know why you wouldn't have a vote to expel them and get all these Republicans on record as to whether or not they want this kind of person in Congress and being for them, especially if they're about to get loose Cheney off of Thereof leadership committee. So you know, I don't think that's it. I got tell me, I'm inclined to make her the face, the Republican Party. What do you think yeah I think that the question of how you deal with trolls is complicated and to be clear, that's what she is, retailer green. It is a troll she's doing this, for between she's going to raise money sources, Madison Cough Foreign guy right, the other famous republican freshmen, who says he's days. We. structure to staffing around communications in our policy, I've been reading a lot about the the alt right crew for my two thousand and fifteen and two thousand and sixteen, so they
I have money and power influenced by saying inflammatory things and then getting well, meaning liberals to get rage and react to them or share their soft and if it is effectively a strategy enabled by social media, because Facebook and Twitter help you a mile or make certain bitch go from running blogs, that no one ever looked at to getting their views in front of a lot of people, but when they got de platforms when they got kicked off a Facebook or Youtube people Alex Jones or Milo, it hurt them alive, and I think you know the damage is done, they built an audience and they filtered their views into the brain. Margo World and they like shifted the boundaries of the discourse in politics, but ultimately vows right move. I think Marge retailer Green has to be deeply, for she has a platform called com like they need to draw a line in the sand, because it's right thing to do, but also, I think it will work when that, when the Republican stripped Steve king of his power, it helped eventually led to his defeat and republican primary it.
Too long, but it also embarrassed the party and like not having Steve king in Congress is a good thing not having Marjorie Taylor. Greening Congress would be a good thing to your broader point of, like the face of the party. Trump constantly accuses the Democratic Party of being Anti semitic because of comments by a few individual members. I think we should do the same thing. We need to up the cost of being associated with Marjorie Taylor Green and draw line in the sand and say this person shouldn't be making laws like. I have no faith in their Hopkins to to do the right thing. Trump is injecting himself. He called Marjorie Taylor, Green he's. You know her side. Kevin Mccarthy is a coward and a moron right ages, when grovelled trumps, feed at Mura, Logo Mitch, Mcconnell provide any leadership on the impeachment vote. I'm sure he won't step in here they are stuck in this same like Cowardly Republic in loop, but yeah? we need to exercise this political cancer because we can't hide from people like her. It's gonna go
She is the new phase of the party she is the norm now it is not Paul Ryan is not these. Like country Club, Republicans, people like her, you Know- and I think- and I think that an important point to make like it in into just from a political standpoint, paralytic perspective in twenty twenty, like most republican candidates, ran ahead of Donald Trump. Donald Trump was seen as more extreme than most republican candidates. That wasn't necessarily the case in twenty sixteen, which is why we got one of the reasons we got him is present in general. If a party is viewed as more extreme, they do worse. That's just that's that's what the data shows and if the Republican Party is viewed as the Party of Donald Trump and Merger Taylor, Green, enlarge, Lauren, Bogart they're going.
to do worse in a lot of parts of the country, obviously not all if there's some deep red parts, but the latter parts of the country where it matters they will do worse than if the party is seen as the Party of Mitt Romney and Susan Collins right like that's, it sounds basic, but it's true, so you rightly, I totally agree Tommy and others have about like she should be deployed formed. It's good to think about that in Congress, as well as on social media, but I do think that regrets should let it be known that she is the face of the party. Now I may act with the public authorities, the cult trump without an intervention that will be the case, Roadmap, gates's, environment. For some reason, the campaign against the Genie Marjorie Taylor, Green, is, is growing in influencing. I dont, like Liz chinese politics by Do like her position on reality and that she is tethered to it. She's, no nineteen, FIFA, it's not just damage RON Johnson Senator from Wisconsin whose using it position to elevate conspiracy theories, including by vaccines in attacking social distancing, masks,
Others is a real problem within that party. It's not good for Democrats to have a position party that diseased it's worth remedy to, like man, lives, Cheney, Liz, Janey, spread the most noxious talk say right wing propaganda for years it just that was the bush. It was the Bush type, not the trump type in. Oh, she was a. She was eight. Me no post, nine, eleven right winger who attacked him at the most pernicious ways to try to undercut their patriotism and all of that we dealt with a four year. She was heinous and it's a testament to how not just how far the parties move, but how people likely Cheney contributed to that movement, that they are responsible, that they set the tone and a move, the party right and they ignored the worst voices in their party for years that put them in this situation.
yeah there's this know a lot of talk about republican civil war, business of a war. The reality based side is losing badly and almost done because we are not fighting. That's it. Adam Cleansing or is the only one on TV, Adam, kids, Republican from Illinois congressmen- I don't with them on a single policy he's the only person who has had the guts to stand up to Trump ISM in lies in conspiracy theories for years and, like odds, are he's gonna, be attacked and I'm going to try to primary cause the rest of the people who know he's right, don't have the guts to say so I guess they are rather just click the power he Credit, Mitt Romney, gets credit in the Senate and I don't think, there's too many others. I would. I think that what I would like to see, though, just about extra extracting costs for I ve been doing so scobie. Who is one of the people I was. in parkland, actually knew emigrant them and mother called Marjorie Taylor, Green
and basically said like. Are you willing to tell me right now that my my son was an kill that there was a false flag and she wouldn't and she said well, will you come on television with me and say it? Will you apologize? Will you admit that when really happen, that, like my son and his heroism, is real, that our pain is real and she refused to do it and as long people like him, Mccarthy aren't willing to do that, but I would like to see these clips paid for these people, like we at wheat there's for so long in Republicans are like, oh, you know, the media treats like the away team in you're, the home team, in their some true to that. But one of the reasons one of the ways in which it benefits Republicans, is that the press treats Republicans like Mccarthy era It's them like antagonists, a treat them like people that can't change that don't deserve to be confronted that don't deserve to be held to the same standard Democrats are held, hold them to the standard, show them the cliff. embarrassed them on television, make them pay for what their endorsing by not standing up to these people or when we come back.
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It's good to see you, so we have a lot to cover. So today, present Biden is meeting with ten Republicans to discuss their counter proposal a six hundred billion dollar relief plan versus the Biden plan of one point, nine trillion, it's obviously inadequate How should we be thinking about this process? What are you? What are you? What are your mind? Is the most likely way to get from. This meeting to the most help for the most people as quickly as possible, pass the democratic plan I mean. I think it's important, that by meet with these senators, I think this is an important opportunity to set a tone of more collaboration of more listening of more dialogue. But ultimately these Republicans need to be told because
as you are not listening to their constituents. So it's up to the rest of us to tell them that that six hundred billion dollars will only cause more economic harm in this country and create a deeper recession that is ultimately much harder to get out of and creates much deeper consequences, and this by the way is something that's being said by economists from all different kinds of backgrounds. The Only disagreement on this really is coming from a handful of politically motivated people who, as we know, have no problem running up the debt running up the deficit, with tax cuts for their corporate donors, did they just start with a tiny number and then back Phil what they cut from the bite and plan to get there like it. Economists are calling for it. There is an option for dinner: that's deposited through reconciliation without any republican boats. What is motive- in these Republicans, Sir tried to kind of JAM Biden in this way. Is it purely just two
undercut. The new administration did a genuinely have concerns about doing enough to help people in this crisis like what what do you think is actually going on here. This is my favorite questions. Thee. What do you think is going on in TED Cruises empty head? How would I know? Ok, TED crews he's not at that meeting. We better. Like your wrought, these other people, I say what their thinking or what their motivation. Is because they are not there. But but let me You say this. This is not the smaller package, with the kinds of cuts that they're making, including to state and local of funding. including two to some of the support for working families. This is fiscally irresponsible. These fiscally pragmatic responsible thing to do here is to meet the needs of state. lies our economy, so I just want to say it's really important that we as progressives chow
opium this and set the record straight. The poem that we putting forward the one point. Nine trillion plan that meets the scope in need of what covert has done to our economy is fiscally responsible. What these Republicans are doing is is not, going to only deepen the recession and set our country on a pact to be not globally competitive with other nations who have dealt with this situation, both covert and the economic fallout, much better so can we dig into every second, because I think so so there obviously trying to do is cause they're Blanchett at the price to but but you're basically saying that if we don't speak, enough now. The whole creates in the economy over time creates a much bigger fiscal problem. Than spending enough now would create exactly and all this offer you a couple of examples if we do
office recently released a report on the way that women are exiting and being squeezed out of the workforce as a result of covert nineteen plus the economic forum, but its created. If we don't find a way to, for example, investments childcare, invest in giving schools open, make sure there are, for cuts in state local government and funding than over embassy is more women steer the workforce for longer? What does that mean it ultimately you were dreaming talent of our workforce, work, making women and every single women, women of color low income, women more likely to experience financial hardship to need to borrow to go bankrupt and not be able to save for retirement. That is backwards. So what we need to do here is try to right size, the relief for the scope of the problem and the longer this problem has gone on. The fact that President Trump did not deal with this well did not get vaccines out did not prioritize health and safety. The fact tat we
chronically under invested in public health is a great example of how this costs more in the long run. So one one piece of the crisis that you ve been talking about is the told us has taken on mental health. That is a lot of people. We fail to provide mental health services, do not people long before the pandemic, now a people in isolation with people who have long struggle with addiction, at alone and and and without their support system. What? What are you trying to do to address the mental health crisis that were, and yet so one of the things that we did was passed at the very end of last year as part of the covered relief bill, a bill that we have by partisan bill to create more accountability for insurers. Too far
Oh the wall, so simple, but big companies, news flash, don't always follow the law, it's cheaper, just to break the law and see if you get caught fellow, affordable care. I had a provision called mental health parity, meaning that mental health treatment should be treated the same way as other kinds of health, frequent weathers forth orthopedic care or something else. Insurers have not been complying with this there. Anyone whose tried to make an appointment for mental health there no providers in network the providers don't take insurance is the reimbursements terrible their unclear benefits. So this bell would try to make sure that were enforcing were delivering on that promise of mental health parity, but its we have to do more than that. We also have to address the fact, as you said, that covert has only deepen some of them, no health needs. This is coming through grief, loss of life, people have lost loved ones in this and lost them in ways that don't allow them to process its isolation, its anxiety, and so we are also calling for increased funding
our bill: stopping the mental health behavioral very something that mental Health Pandemic ACT, doing this by the way on the ground from providers as I'm going my day, seeing neighbours you're talking to people in my community. They are all telling me that this is a huge problem, but there have weightless for appointments that there is a shortage of mental health care, including- and this is really important- that mental health needs of our health care workers, many of whom are being traumatized. By what their having to work with him through right now, you in tackling so many faceted editing, don't get the attention they deserve. Another piece of this that even talking about is the pharmaceutical industry and the consolidation that we ve seen there look like we spent a year watching this failure unfolds. There was an economic failure to provide people to resources they needed, so they didn't have to work. Siena, failed response by the previous administration, but science
and the vaccine development was extraordinary, have an incredibly quickly. It's a great testament to basic research investments in the poet from the public sector. It is a testament to the two too. You know these incredible, these incredible scientists and what they did. But you ve been looking at the way in which consolidation in pharmaceuticals might raise costs for prescriptions, but also stop innovation. Can you talk a little bit about the kind of consolidation that's been going on that may make developments like this in the future harder yet, so we all agree that we want to have innovation in healthcare. We want improved treatments, we want improved outcomes, and that means that we need to create the conditions for innovation. One of those conditions is competition, and what we found
and is that what's going on in pharmaceuticals, as in many other areas of our economy, is an increasing problem with monopoly pro monopoly behaviour and monopoly problems. So, to the extent that these large pharmaceutical companies are gobbling of smaller ones, what they do is required that the thing the one thing they want and then dump and cut all of the culture of innovation and many of these smaller companies or the very entities that are willing to take risks. Who are investing in your things that are further out from market development. And so it's William
What and that we have companies of different sizes with different levels of risk in our farmers suitable on community, and so what we show is we give a really couple powerful examples in the report of exactly what happened when a company or a small company making powerful innovations was acquired by a big company. It's not good. The big pharmaceutical companies are going to focus on the profits and their shareholders they're not going to focus on those long term. Research and diverse and development initiative big pharma, spends more on lobbying every year than they do on research and development really important for people to understand that we should be pushing big pharmaceutical Greece to put more money into r and D. Don't take him at their word, show make them show that that's in fact, what they're doing- and none of this is
take away from the amazing work that scientists are doing. In fact, we want to support and encourage more of that, so many used to be right that there is there was Bell, loves that these companies had these kind of long term aspects it they dared basic research higher risk things in that sort of gone by the wayside. The federal government has cut back in terms of by percentage what they invest in basic research, and now it yours, is basically these small, these small companies that but to do something really risk taking to do so. Really innovative to try to make something new, that they get gobbled up by these big pharmaceutical companies and then the only thing they He is. The one thing they ve already made making it possible for them to make something new. right? They shelve an active. We kind of hold back the culture of innovation and the actual innovative projects that were going out
small companies and other. Basically, just you know, purchasing the entire thing to get that one thing that may be profitable, but then the rest of the initiatives die in the pipeline and we ve seen pharmaceutical big. Pharmaceutical companies spend a lot of money, making minor adjustments to existing therapies, to try to hang onto patent protection and continue to make profit, rather than investing in research and development, to identify new drugs and new treatments. And what is the way to stop them from doing eyes it more aggressive oversight. By
Regulators around monopoly look what's the way to intervene as it is it what what legislation is needed. Yet we put several things in our report about what we can do in this regard, but part of it is before we can even get to that point. We have to educate the public and educate our elected officials that this poses a problem. We are also grateful to have your development of vaccines by these large companies, but we can't take them at their word that everything there doing is always about innovation. They are companies, they have shareholders. Are they doing there doing what companies do their delivering profits to their shareholders and on the capitalist? There's nothing wrong with that. But healthy capitalism means that you have that market competition. So a report. We lay out a number of policy things that could be done but alone
That's the real barrier, isn't that the policy solutions are so complicated. It's that politically pharmaceutical companies spend millions of dollars every year to convince the american people, but if they are subject to any market forces or any regulation that they will stop innovating. So speaking of seeing him capitalism before Let your guy did want to talk about game stop, and I say that as one of their largest shareholders are not so a lot of the coverage has been about this being the sort of ordinary people, send verses hedge funds and also seems to be about risk and where risk is hidden in our system, when its working supposedly smooth Lee. What are the lessons? Your taking away from this about what it says about this health of our financial system
Well, first and I ain't I'm sounding you're, just like my mentor Elizabeth Warrant but she's dead right. The stock market is only one measure of economic well being or activity. We all desire mobile seen that you got a sky high stock market and also have consumers with sky high debts were finally bankruptcy and record numbers, so let's not conflate the stock market with its actual economic fundamental. Similarly, let's not confuse the price of a stack like games, stop which was run up by manipulating practices by kind of Poland by retail investors coming together to flood the market with actually game. Stop me, a good investment or not, and yes, heads, but some of the hedge funds that were involved. They they were in trouble. They have run, they couldn't make the requirements they got. They got bought by another company, they gotta capital infusion. They have.
Basically sell part of their company. There are also hedge funds making a tonne on this thing. Stop there and there are regular investors, who are going to lose a lot of money on game stopped, because at the end of the day, this is a company in trouble. not a company with sound economic models and the real issue here is making sure that we're having regulators and as you see that is doing its job understanding the risk. This is not, despite the Robin Hood and, however much I don't like that particular hedge fund guy, on the other side of it, this really isn't a big versus small problem. This is a problem about risk and the fact that smaller investors are less able to bear that risk and they ve taken an awful lot of it on here. yeah, it seems it seems like we do, want a system where individual people have access to markets,
in the same way that big institutional investors do. But it seems that will what would be the worst outcome if all the bad practices, is in gambling and casino, like behaviour of these laws, entities, then trickle down everybody right leg. It seems like what we want is once we open want to be fair, It's a strange situation where the more people behave. Gets a casino, the more becomes one and the more risk in dangerous. It becomes writ large for everybody right and I love you too short a stock. Your basically betting on the door, sure of stock share, your betting had that it will go down and if you're wrong, the consequences on the other side are huge right. You can weigh more money than you put at risk in the first place, and this is this means you need to have a lot of liquidity and give a lot of cash on hand to be able to meet that need to have other kinds of counter strategies. This is not something that Individual investors are gonna, be able to do so. Look
If you have a hundred dollars or a thousand dollars, You want to see what happens by all means shorter stock- maybe I'll win, maybe I'll lose but understand you might be on the hook. For what? more than that thousand dollars? And let me tell you in all my years of dealing with families in bankruptcy and in financial trouble. I've never seen a hedge fund. step up and say to her family to a mom and dad driving a mini Vienna with your kid or to hay, we'd like to buy part of your household and give you this money and invest in you. It's not gonna happen. These consumers are just command, upholding the shortened the stick. So I think your point, John, is exactly right. We want an even playing field. We want everyday investors to have access to strategies that will make the money and give them the opportunity,
to get the upside of capitalism, but the risk is also there and we need to make sure we have a regulator whose doing the job of understanding the risk. So you, too, to ideas that have been talked about recently. One is sort of dressing, this more clearly which basic, just making sure companies have more money if it can it be engaging in short selling, but the other assuming that's been talked about for years, which is putting some kind of a tiny tax or fee on on trades to stop the high frequent. He trading that some of these hedge funds and made a ton of money on on the other side of these transactions. What do you think about What are what are some of the ways we should be thinking about this in terms of what Congress kinda, yet so with Russia to making sure that there is adequate liquidity that these entities have back stops. I mean that's the job Yes, I see and its true for Robin Hood as it is for
the other entity right enough. If stock prices are going crazy, there's always the ability to stop the market to freeze trades. What happened with Robin Hood is exactly what happens in other contacts with other companies when the start, when their stock manipulation, whoever is doing pump and dump whoever's, manipulating the market, whether its big or small. It's wrong in our market mechanisms to try to stop that. So, with regard to the financial tax, I think there's a couple points here. One is we just need to think about. Where do we want to create the revenue that we need to invest in economic growth, right and we have different places. We can put that right right now we have an effective tax rate on middle income. Families that's a lot higher than it is on many millionaires and others because of differences in capital gains rates and different production rules. Things like that the financial transaction tax is one place that we could look too
he's revenue and the larger issue, I think, is you know, because it's only large entities and complex entities that can engage typically in the kind of really high liquidity. High frequency excuse me, trading, that's going on, we might think about tax would fall, more on those big companies. But I think there are really two separate questions. There's a risk question and then there's a tax question. I don't think we should be using the tax to try to deter the rest, taking if that makes sense near before really go you'd you ordered vanity licence place, said, say, oversight for your minivan. Have they come and will they qualify as a waiver to get you back on financial services, nets of advice may not come, but they have been ordered and am very happy to report its very tough in California. There are a lot of other people on that. Nobody else wanted the license plate of e r s. I t so it's on
It's been submitted, its being made it'll, get to me I'll, put a picture up as soon as I can figure out how to get the plates and get a Mamma van. You know with regarded committees. You know I am thrilled to beyond natural resources into beyond oversight and pure part of it. We lost seats in the house, so I was the most junior member on oversight. I could have lost my spot, so I reallocated May committee preferences. I wake them two three and in the end there were no, I think, fourteen
eleven members who got waivers, I didn't I was wanting to who didn't. I am disappointed not to be able to serve on financial services, but there's and if one of the things this whole thing is illustrated to me, is how much, how confusing and how not transparent some of these things are. The inner operations of Congress or to the american people, like the rules of the Caucasus, are so complex that people can even understand how we get on the committees we get on and in that being very opaque and difficult to understand Then there is the potential, for you know. People tat you can views, did not understand what happened. So I would love to be back on financial services. There may be another opportunity either and a future Congress or later in this Congress. The meantime I keep working on these issues me I spent my life working on issues of consumer protection, Capitalism omelette keep working on this with I'm on the committee or not congressmen, Katy Porter. Thank you so much for diagnosis,
Thank you. Big cigars, woman, Katy Porter for joining us today and I talked you guys later- by low cyber buddy. Save America is a crooked media production. The executive producer is Michael Martinez. Our associate producer is Jordan. Waller. Its mixed in edited by the Chadwick pile said one is our sounded junior the tiny summit, eight or Katy Long Roman, Papa Dimitrios, Caroline Rustin ingesting how for production support into our digital team, Eliza Cone, Normal Conan, Yell Freed, and my look him who film and upload these episodes as videos every week.
Transcript generated on 2021-02-05.