Glenn interviews Romney on economics


Mitt Romney

GLENN: Welcome to the program. Third most listened to from Manhattan. My name is Glenn Beck. Glad you're here. Mitt Romney is a guy that has been a CEO, gets it, understands the economy unlike any other people that I hear talking, even the current CEOs I'm thinking, what are they even saying. Mitt Romney, welcome to the program. How are you, sir?

GOVERNOR ROMNEY: I'm terrific, Glenn. Thank you.

GLENN: Can you please help tell me and everybody else what the heck is even going on? What is this and what does this mean to the average person?

GOVERNOR ROMNEY: Well, the good news is that bank accounts are insured, brokerage accounts are held in people's names and to the extent they're not, they're also insured. So people don't need to worry about losing their money as they see the topsy turvy things going on in Wall Street. But what's happening is that over the past several years with interest rates extremely low, held artificially low and with mortgage banks and by the way, politicians of Republican and Democratic stripe alike all saying give money out to people so they can buy homes, mortgage money was handed out like candy and the result of this was homes were being bought like crazy and now people are finding they can't make the payments and so what you have on your hand is a housing crisis and a mortgage crisis, where the mortgages are not being paid back and so the institutions which hold those mortgages or have guarantees on them are finding themselves in trouble and they're going under one by one. And the government is having to step in to make sure that the well, not that their shareholders are protected but rather make sure that the public is protected.

GLENN: I heard a former Fed chair say this morning that he thinks this is it, this is it. Now we're now it's going take us about two years to dig our way out but this is the last shoe to drop. Do you buy that at all?

GOVERNOR ROMNEY: It's possible. You know, the strange thing about recessions is that as Alan Greenspan has pointed out, they are oftentimes caused by a healthy dose of irrational behavior and you never know what irrational behavior's going to do. It's hard to predict. But, you know, I think with Fannie Mae and Freddie Mac now in stable hands and with this AIG picture behind us, there's a real good shot that we won't see major financial institutions like this in trouble. But, of course, we're going to have banks go under. We usually have about 100 banks a year that go under in this country. We'll have at least that many this year and there will be plenty for the media to write about that will be scary but, you know, we can hope that and I think we have a good prospect of believing that the worst is behind us in terms of these financial institution bankruptcies.

GLENN: Here we are, we get up this morning and I think, oh, wow, this is fantastic, we own an insurance company now, and the largest one in the world. This is great. We seem to be in an acquisition mode that makes me slightly uncomfortable. Meanwhile Pelosi and Reid are politicking for a new federal agency whose job would be to buy bad assets from corporations. This is where are we getting this money?

GOVERNOR ROMNEY: Well, actually the it was something I recommended about a year and a half ago, something similar which was, look, there ought to be a voluntary effort where people that are holding these mortgages or banks that are holding these mortgages or other investors could contribute them to an entity, contribute them to the entity and then the entity goes out and tries to collect what they can and ultimately sends the money back to whoever contributed it and

GLENN: Wait, wait, wait. That's a federal agency you wanted to create?

GOVERNOR ROMNEY: I wanted to make that a very private and voluntary effort on the part of institutions.

GLENN: Right.

GOVERNOR ROMNEY: And so that was a way to go. What you don't want to have happen and is what's happening right now which is that let's say one bank holds a piece of debt from General Motors and that bank is in overnight trouble, disaster. They have to sell that piece of paper they got from General Motors for 10 cents on the dollar. Well, because we have a rule that says everybody that holds that same paper must mark to market, they all write down that General Motors paper to 10 cents and that causes all of their balance sheets to be in trouble. Some of our rules just don't make sense in this kind of a, kind of a panic selling setting where some institutions are selling well below the true value of their asset.

GLENN: You said just a little while ago, and it just I mean, I tell you, Mitt, I think this is the winning strategy and I think it's because you mean it and I think Sarah Palin means it and I hope John McCain means it. This is not a Democratic problem. This is a Republican and Democratic. This is a Washington problem.

GOVERNOR ROMNEY: Yeah, you're absolutely right on this. We watched people on both sides of the aisle celebrate as mortgages were being given out and being backed by the federal government through effectively Fannie Mae and Freddie Mac, mortgages were being given out to people who didn't have to show they had the ability to pay, people who didn't have to put a down payment down, people who were getting interest only mortgages with a variable rate. We were celebrating that. Republicans and Democrats were celebrating it, and it led to a bubble, overwhelmingly high prices and some mortgages out there that weren't worth very much and that's all coming home to roost and, you know, shame on the people who were encouraging it. And there's plenty of blame to go around. It's not one party or the other. And it's Wall Street, it's Main Street, it's homeowners, it's mortgage banks, it's bankers, it's regulators and it's Republicans and Democrats alike. So, you know, let's stop worrying about who's to blame. Let's worry instead about what you do to fix it and how to get our economy growing again.

GLENN: Okay.

GOVERNOR ROMNEY: And there's where John McCain's right. Hold down taxes, keep trade open with other nations and stop sending billions of dollars every day out of our country to buy oil.

GLENN: Yesterday Joe Biden said that, you know, Obama was going to hike the taxes over, anyone over $250,000. He said no economist has ever said that's bad for the economy. Meanwhile Barack Obama's tax plan and I just figured this one out he wants to raise the minimum wage yet again but in a different way. He is going to give tax rebate checks to anyone who is making minimum wage of up to $1100 a year. What do these two things do to our economy?

GOVERNOR ROMNEY: Well, first of all, raising taxes on anyone, even though sometimes it's popular to raise taxes on your enemy, but raising taxes on anyone is never good for the economy. It takes money out of the free economy, it takes money out of investment funds which can be used to create new enterprises and create jobs and puts it in government's hands. And that's not good for the economy. Around the world the nations that have low taxes like Ireland, for instance, are growing like crazy and those with high taxes like Japan and us are having a much more difficult time. So raising taxes is never good. And, you know, right now there are about 40% of Americans that pay no income tax at all, none, and at some point you say, you know, isn't it appropriate that everybody pay something, that there's a fair share. And if Barack Obama wants to basically pay off voters in saying, look, all you guys, I'm going to give you checks and take money away from the wealthiest Americans, it's a politics of envy that I just don't think works economically and I don't think it will work politically.

GLENN: The headline today is Carly Fiorina, CEO of HP, she said this is the headline that Palin and McCain are not qualified to be CEOs. What she actually said is none of the four are qualified to be CEOs. You're a CEO. You're a very successful businessman. Any of them qualified to be CEOs?

GOVERNOR ROMNEY: Look, I would be happy to have John McCain and Sarah Palin as CEOs of enterprises I've invested in over the years and there's no question that they have executive and leadership experience. I have to tell you that Barack Obama and Joe Biden are a little more difficult for me to assess because neither one has really ever had a leadership responsibility. So I'm not going to opine on those two, but John McCain and Sarah Palin I'd be happy to hire them.

GLENN: What is the have you met Sarah Palin?

GOVERNOR ROMNEY: I sure have.

GLENN: What do you think of her personally? Do you think she's did you see Batman by any did you see Batman?

GOVERNOR ROMNEY: Of course I haven't seen the latest. I saw the earlier. I saw the earlier Batman.

GLENN: The last Batman and I hate to wreck the ending for you but the last Batman is the guy that everybody thinks is good actually turns bad and Batman says you are going to have to blame it all on me because we have to have somebody we can believe in. Sarah Palin seems to me to be a genuine reformer, somebody that will take on her own party, take the beam out of her own party's eye first and that's what America is looking for right now and that's exactly what we mean or what we need. Do you believe she is and has the spine to remain who we think she is?

GOVERNOR ROMNEY: Well, I believe she does, and frankly I believe John McCain does. Look, over the years John McCain has made a lot of Republicans mad. He's probably made this President mad. We don't have tapes of the White House like we used to in the Nixon days but my guess is there's been an expletive or two expressed in John McCain's direction when he voted against Bush on issue after issue and, you know, you want that kind of backbone. You want a person who will explain why they don't agree with something and who will stand their ground and not just do what their party tells them to do, and John McCain has done that, Sarah Palin has done it, and I think you'll see if those two are in the White House and working together, you're going to see them dramatically change the way government works in Washington. And it will be painful will for a lot of people, but you're going to hear a lot of screaming from the fat cats, from the lobbyists, a lot of screaming from congressmen who want pork projects from their home district and McCain's going to stare them down and say no way.

GLENN: Mitt Romney, thanks.

GOVERNOR ROMNEY: You bet, Glenn, bye bye.

The number of people serving life sentences now exceeds the entire prison population in 1970, according to newly-released data from the Sentencing Project. The continued growth of life sentences is largely the result of "tough on crime" policies pushed by legislators in the 1990s, including presidential candidate Joe Biden.

Biden has since apologized for backing those types of policies, but it seems he has yet to learn his lesson. Indeed, Biden is backing yet another criminal justice policy with disastrous consequences—mandatory drug treatment for all drug offenders.

Proponents of this policy argue that forced drug treatment will reduce drug usage and recidivism and save lives. But the evidence simply isn't on their side. Mandatory treatment isn't just patently unethical, it's also ineffective—and dangerous.

Many well-meaning people view mandatory treatment as a positive alternative to incarceration. But there's a reason that mandatory treatment is also known as "compulsory confinement." As author Maya Schenwar asks in The Guardian, "If shepherding live human bodies off to prison to isolate and manipulate them without their permission isn't ethical, why is shipping those bodies off to compulsory rehab an acceptable alternative?" Compulsory treatment isn't an alternative to incarceration. It is incarceration.

Compulsory treatment is also arguably a breach of international human rights agreements and ethical standards. The World Health Organization (WHO) and the United Nations Office on Drugs and Crime (UNODC) have made it clear that the standards of ethical treatment also apply to the treatment of drug dependence—standards that include the right to autonomy and self-determination. Indeed, according to UNODC, "people who use or are dependent on drugs do not automatically lack the capacity to consent to treatment...consent of the patient should be obtained before any treatment intervention." Forced treatment violates a person's right to be free from non-consensual medical treatment.

It's a useless endeavor, anyway, because studies have shown that it doesn't improve outcomes in reducing drug use and criminal recidivism. A review of nine studies, published in the International Journal of Drug Policy, failed to find sufficient evidence that compulsory drug treatment approaches are effective. The results didn't suggest improved outcomes in reducing drug use among drug-dependent individuals enrolled in compulsory treatment. However, some studies did suggest potential harm.

According to one study, 33% of compulsorily-treated participants were reincarcerated, compared to a mere 5% of the non-treatment sample population. Moreover, rates of post-release illicit drug use were higher among those who received compulsory treatment. Even worse, a 2016 report from the Massachusetts Department of Public Health found that people who received involuntary treatment were more than twice as likely to die of an opioid-related overdose than those with a history of only voluntary treatment.

These findings echo studies published in medical journals like Addiction and BMJ. A study in Addiction found that involuntary drug treatment was a risk factor for a non-fatal drug overdose. Similarly, a study in BMJ found that patients who successfully completed inpatient detoxification were more likely than other patients to die within a year. The high rate of overdose deaths by people previously involuntarily treated is likely because most people who are taken involuntarily aren't ready to stop using drugs, authors of the Addiction study reported. That makes sense. People who aren't ready to get clean will likely use again when they are released. For them, the only post-treatment difference will be lower tolerance, thanks to forced detoxification and abstinence. Indeed, a loss of tolerance, combined with the lack of a desire to stop using drugs, likely puts compulsorily-treated patients at a higher risk of overdose.

The UNODC agrees. In their words, compulsory treatment is "expensive, not cost-effective, and neither benefits the individual nor the community." So, then, why would we even try?

Biden is right to look for ways to combat addiction and drug crime outside of the criminal justice system. But forced drug treatment for all drug offenders is a flawed, unethical policy, with deadly consequences. If the goal is to help people and reduce harm, then there are plenty of ways to get there. Mandatory treatment isn't one of them.

Lindsay Marie is a policy analyst for the Lone Star Policy Institute, an independent think tank that promotes freedom and prosperity for all Texans. You can follow her on Twitter @LindsayMarieLP.

President Donald Trump's personal attorney, Rudy Giuliani joined Glenn Beck on Tuesday's radio program discuss the Senate's ongoing investigation into former vice president Joe Biden's son, Hunter Biden, and reveal new bombshell documents he's currently releasing.

Giuliani told Glenn he has evidence of "very, very serious crime at the highest levels of government," that the "corrupt media" is doing everything in their power to discredit.

He also dropped some major, previously unreported news: not only was Hunter Biden under investigation in 2016, when then-Vice President Biden "forced" the firing of Ukraine's prosecutor general Viktor Shokin, but so was the vice president himself.

"Shokin can prove he was investigating Biden and his son. And I now have the prosecutorial documents that show, all during that period of time, not only was Hunter Biden under investigation -- Joe Biden was under investigation," Giuliani explained. "It wasn't just Hunter."

Watch this clip to get a rundown of everything Giuliani has uncovered so far.

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For most Americans, the 1980s was marked by big hair, epic lightsaber battles, and school-skipping Ferris Bueller dancing his way into the hearts of millions.

But for Bernie Sanders — who, by the way, was at that time the oldest-looking 40-year-old in human history — the 1980s was a period of important personal milestones.

Prior to his successful 1980 campaign to become mayor of Burlington, Vermont, Sanders was mostly known around the Green Mountain State as a crazy, wildly idealistic socialist. (Think Karl Marx meets Don Quixote.) But everything started to change for Sanders when he became famous—or, in the eyes of many, notorious—for being "America's socialist mayor."

As mayor, Sanders' radical ideas were finally given the attention he had always craved but couldn't manage to capture. This makes this period of his career particularly interesting to study. Unlike today, the Bernie Sanders of the 1980s wasn't concerned with winning over an entire nation — just the wave of far-left New York City exiles that flooded Vermont in the 1960s and 1970s — and he was much more willing to openly align himself with local and national socialist and communist parties.


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Over the past few weeks, I have been reading news reports of Sanders recorded in the 1980s — because, you know, that's how guys like me spend their Saturday nights — and what I've found is pretty remarkable.

For starters, Sanders had (during the height of the Soviet Union) a very cozy relationship with people who openly advocated for Marxism and communism. He was an elector for the Socialist Workers Party and promoted the party's presidential candidates in 1980 and 1984.

To say the Socialist Workers Party was radical would be a tremendous understatement. It was widely known SWP was a communist organization mostly dedicated to the teachings of Marx and Leon Trotsky, one of the leaders of the Russian Revolution.

Among other radical things I've discovered in interviews Sanders conducted with the SWP's newspaper — appropriately named The Militant (seriously, you can't make this stuff up) — is a statement by Sanders published in June 1981 suggesting that some police departments "are dominated by fascists and Nazis," a comment that is just now being rediscovered for the first time in decades.

In 1980, Sanders lauded the Socialist Workers Party's "continued defense of the Cuban revolution." And later in the 1980s, Sanders reportedly endorsed a collection of speeches by the socialist Sandinistas in Nicaragua, even though there had been widespread media reports of the Sandinistas' many human rights violations prior to Sanders' endorsement, including "restrictions on free movement; torture; denial of due process; lack of freedom of thought, conscience and religion; denial of the right of association and of free labor unions."

Sanders also traveled to Nicaragua and met with socialist President Daniel Ortega. He later called the trip a "profoundly emotional experience."

Sanders also traveled to Nicaragua and met with socialist President Daniel Ortega. He later called the trip a "profoundly emotional experience."

Comrade Bernie's disturbing Marxist past, which is far more extensive than what can be covered in this short article, shouldn't be treated as a mere historical footnote. It clearly illustrates that Sanders' brand of "democratic socialism" is much more than a $15 minimum wage and calls for single-payer health care. It's full of Marxist philosophy, radical revolutionary thinking, anti-police rhetoric, and even support for authoritarian governments.

Millions of Americans have been tricked into thinking Sanders isn't the radical communist the historical record — and even Sanders' own words — clearly show that he is. But the deeper I have dug into Comrade Bernie's past, the more evident it has become that his thinking is much darker and more dangerous and twisted than many of his followers ever imagined.

Tomorrow night, don't miss Glenn Beck's special exposing the radicals who are running Bernie Sanders' campaign. From top to bottom, his campaign is staffed with hard-left extremists who are eager to burn down the system. The threat to our constitution is very real from Bernie's team, and it's unlike anything we've ever seen before in a U.S. election. Join Glenn on Wednesday, at 9 PM Eastern on BlazeTV's YouTube page, and on BlazeTV.com. And just in case you miss it live, the only way to catch all of Glenn's specials on-demand is by subscribing to Blaze TV.

Justin Haskins (Jhaskins@heartland.org) is editorial director of The Heartland Institute and editor-in-chief of StoppingSocialism.com.

Candace Owens, BLEXIT founder and author of the upcoming book, "Blackout," joined Glenn Beck on Friday's GlennTV for an exclusive interview. available only to BlazeTV subscribers.

Candace dropped a few truth-bombs about the progressive movement and what's happening to the Democratic Party. She said people are practically running away from the left due to their incessant push to dig up dirt on anybody who disagrees with their radical ideology. She explained how -- like China and its "social credit score" -- the left is shaping America into its own nightmarish episode of "Black Mirror."

"This game of making sure that everyone is politically correct is a societal atom bomb. There are no survivors. There's no one that is perfect," Candace said. "The idea that humanity can be perfect is Godless. If you accept that there is something greater than us, then you accept that we a flawed. To be human is to be flawed."

Enjoy this clip from the full episode below:

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BlazeTV subscribers can watch the full interview on BlazeTV.com. Use code GLENN to save $10 off one year of your subscription.

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