ICYMI—Hagerty Joins The Evening Edit to Discuss Biden’s Failures, $3.5 Trillion Socialist Debt Bomb

September 30, 2021

WASHINGTON—United States Senator Bill Hagerty (R-TN) Wednesday joined Liz MacDonald on The Evening Edit to discuss the failures of the Biden Administration, and the $3.5 trillion socialist debt bomb Democrats are negotiating with themselves over.

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Partial Transcript

Hagerty on linkage between infrastructure bill and the $3.5 trillion socialist debt bomb: “This is precisely what I predicted when the infrastructure bill came to the floor. Remember, I’m the one that held it up. I didn’t want Nancy Pelosi to have that type of leverage that she’s going to exercise. She’s going to use this infrastructure bill, she’s going to hold it hostage. She’s going to link the two together, and this is the plan that Bernie Sanders, just laid out their strategy. I’ve been worried about this all along. And I think what we’re seeing is precisely what I’d warned about, that they’re going to use the so-called bipartisan infrastructure bill, which actually [only] had 23 percent, I believe, of actual hard infrastructure in it. She’s going to link that to the much larger ‘social infrastructure bill’. This is the complete socialist debt bomb that Bernie Sanders wants to unleash on the American economy. They want that leverage because they want to force their more moderate members to vote for it. They’re going to have a very hard time.”

Hagerty on rising inflation: “I think [Biden’s credibility] is plummeting. You’re seeing it in the polls, just as you say, Liz. And you mentioned this too: it’s inflation. This is the most pernicious tax of all. If you look at what’s happened to real wages in American, net of inflation, since the Biden Administration has taken over, if you annualize it, real wages are down 4 percent since January of this year. This is hitting every American. If you think about the inflation that they’re going to induce by adding another five or six trillion of stimulus spending in the economy, adding another several trillion dollars of taxes, those taxes are going to go somewhere. It’s going to go right into the price of everything that we buy and we purchase. This is inherently inflationary. And, again, this is the most broad-based tax that hits retired people, low- and middle-income workers the absolute hardest. This is where the Biden Administration’s policy is taking us.”

Hagerty on Democrats’ scrambling to pass their agenda: “It’s part-and-parcel of what’s happening here because in the process of fundamentally transforming the economy, as Bernie Sanders likes to say, there are going to be a lot of new interests that come into play. They’re going to destroy the fossil fuel industry, for example. They’ve slipped an amnesty portion into this thing. There’s so many things that everybody in Washington are trying to tack onto this bill again. This is why it’s become so unmanageable. This is why we’re seeing it fall apart right now.”

Hagerty on the Biden Administration’s growing number of national crises: “Look at the disaster in Afghanistan that they precipitated. Look at the disaster on our Southern border. I’ll come back to inflation: that’s killing the economy here in America; it’s hurting every individual here. And if you look at what they’re trying to accomplish with this transformation of our economy, it’s terrible.”