WASHINGTON—United States Senator Bill Hagerty (R-TN) today joined Kudlow on Fox Business to discuss the debt ceiling negotiations in the Senate, and Democrats’ reckless spending spree that will fundamentally reorient our economy toward big-government socialism.
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Partial Transcript
Hagerty on debt ceiling: “I’m going to be a nay on raising the debt ceiling. We need to get our fiscal house in order. We need to be cutting taxes right now. We need to be cutting expenditures right now. We’re doing exactly the wrong thing. You’ve talked about inflation, and you’re so articulate about this: inflation is running rampant. We’re moving in exactly the wrong direction.”
Hagerty on another crisis created by Democrats: “Larry, we’re not going to default on our debt. The Democrats have known for months that this needs to be taken care of. They’ve got the power to address it. They’ve certainly been able to use that power, that authority, through this reconciliation process to spend trillions of dollars without a single Republican vote, yet they want to bring us into some other process. You know, the reconciliation process was actually designed for budgetary purposes, which is a tool they could use. Rather than do that, though, they want to move a different direction. And again, just push us to the precipice of crisis after crisis.”
Hagerty on Democrats’ reckless spending sprees: “That absolutely is the issue, and whether the number is $5 trillion, $3 trillion, or $2 trillion that they come up with, that’s only the beginning of this. Because what they’re talking about doing is broadening social programs to an extent that they’ll never be cut back. This is going to burden our children and our grandchildren. It’s going to be inherently more inflationary, and this is something that’s going to be denominated in the tens of trillions of dollars by the time this has moved through the system.”
Hagerty on stopping Democrats’ big-government socialism: “We’ve been very focused on it. You know, the fight that I undertook on this so-called infrastructure bill. And it’s turned out just as I said it would, Larry. That’s become the hostage that Nancy Pelosi and the liberals in the House are using to force a vote to their more moderate Democrats. They’re going to hold that hostage to force them onto this massive $3, $5, $10 trillion transformation of America bill that Bernie Sanders has authored. We’re going to do everything we can, everything in our power, to fight back against that.”