Glenn Beck: 1932 All Over Again?




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Congress couldn't agree on a budget, but don't worry about that. House Democrats have "deemed" the new $1.1 trillion budget as passed. "Deem and pass" allows Democrats to start spending money in 2011 without having to follow any real budget.

Meanwhile, President Obama's budget director, Peter Orszag, is now leaving the White House. He said, "I want to emphasize that it would be inaccurate to say that I have told the president personally that I'm leaving because of concerns about our fiscal policy."

Hmm. That's odd.

And former Clinton Labor Secretary and Obama economic adviser Robert Reich just came out and said: "The economy is still in the gravitational pull of the Great Recession — all the booster rockets for getting us beyond it are failing"

So big government is failing spectacularly and after a year and a half of Obama, it's starting to feel like 1932:

The average time needed to find a job has risen to a record 35.2 weeks

The budget deficit is above 10 percent of GDP

Home sales are down

Retail sales are down

9.2 million people are unemployed

But despite all of this, President Obama is taking a victory lap around the country. He's calling it "Recovery Summer." That's about as ridiculous as if BP went around the country right now to promote their environmental safety record. It doesn't add up.

History shows us, time and again, that big government spending is simply not the answer to national economic problems. But, here we go again down the big government path.

How does it keep happening?

Part of the problem is we have too many politicians like Pete Stark from California. Stark is a founding member of the Progressive Caucus and, as I showed you last week, he embodies everything about progressives we told you about: They think they are better than you.

Last week Stark was mocking the Minutemen over border security. Now listen to him in this interview with journalist Jan Helfeld about the national debt:

(BEGIN VIDEO CLIP)

REP. PETE STARK, D-CALIF.: The national debt measures the wealth.

(CROSSTALK)

STARK: The wealthier we are —

JAN HELFELD, JOURNALIST: The larger the national debt, the wealthier we are?

STARK: It's an indication of the wealth of the country. You're right.

HELFELD: So the more you owe, the more you're worth?

STARK: In federal accounting — in the national scheme of things, that's quite right.

HELFELD: So why shouldn't we borrow another trillion then next year?

STARK: Probably because — we should not necessarily borrow another trillion, but we will, inevitably.

(END VIDEO CLIP)

First of all, if you don't believe progressives think you are too stupid and have to be dragged to the right answers, just remember that clip. Secondly, more debt means we are wealthy? At the time of this clip the national debt was about $5 trillion. We're almost three times that amount now. We're rich! Where did we go wrong?

Stark went on to say this:

(BEGIN VIDEO CLIP)

STARK: Did you ever study economics?

HELFELD: A little bit.

STARK: Where?

HELFELD: In the University of Puerto Rico.

STARK: Oh the University of Puerto Rico? Do you have a doctorate in economics?

HELFELD: No, I don't.

STARK: A master's degree?

HELFELD: No, I don't.

STARK: How many classes did you take? What I would suggest —

(CROSSTALK)

STARK: They are simple-minded questions that don't relate to the realities —

(CROSSTALK)

STARK: If you would shut up for a minute. You're blabbing away here about something you don't know anything about.

HELFELD: I am just trying to ask a question —

STARK: You're making a lot of stupid statements, Jan.

HELFELD: So you think if the national debt increases, we become wealthier. So I don't see why you don't want to go for it — and go for two or three billion dollars —

STARK: It's why you probably never graduated from a very good college, Jan. And I'm not going to take the trouble to educate you here.

(END VIDEO CLIP)

I'd like to explain this to Congressman Stark and others who think like him. I'll speak slowly for the congressman. He should probably TiVo this — TiVo is a device that records TV shows and you can play it back. I didn't know if he knew that because he's been in Congress for 37 years now, so it's been a long time since he won that first election, in which his main complaint against his opponent was that he'd been in Congress too long.

Take an imaginary neighborhood with "diverse" economic backgrounds:

Person One makes $250,000 a year. They owe $500,000 on a $520,000 mortgage, they financed a $20,000 boat, a sports car and a summer cottage on the lake as well. Life is sweet. They don't have a lot of savings — they'll do that later.

Person Two only makes $45,000 a year. But, they've paid off their mortgage, they bought used cars and have no payments. They've saved money for a rainy day.

Now, the way Congressman Stark sees it, the richest person on the block is the guy with the boat and the sports car. After all, he's got the nicest stuff and the biggest house. But, what happens if they both lose their jobs and have to take one of those jobs that Americans just won't do? Or what if their income is significantly cut back?

Well, when that rainy day comes, the richest person on the block is the person only making $45,000 a year. Why? Well, they don't have lots of stuff, but they don't owe anyone either. There's no bank or credit card company breathing down their necks if their income is slashed. Their life changes, of course, but not as much as the rich guy with all the financed stuff. He's got to scramble to sell the house, the boat, the car. When he can't, banks and credit card companies are coming after him. He could borrow more money to try and keep up, but what has that done? Made him wealthier or just more in debt? All it does is buy some time before it all comes crashing down.

It's the same with the federal government. If IRS returns drop and they continue to try and make up for the shortfall by printing more money or borrowing more money, we just fall deeper into debt.

We're not wealthier. We've only held off the inevitable. But, then again, I'm not a doctor like the great congressman. Oh wait, he's not a doctor? And I almost forgot — I am. But it doesn't take a doctorate to read some history. It's not hard to see that we are repeating the same mistakes of the past. We are repeating the 1930s:

The Dow appears to be repeating the patterns seen during the Great Depression. After the crash in 1929, there was a brief recovery period in 1930. On July 8, 1932, the Dow bottomed out — closing the day at 41.22, an 89 percent drop from its pre-crash high; in October of 2008 stock market plummets 2,400 points in nine days

President Hoover responded by increasing federal spending by 50 percent between 1929 until the end of his term; George W. Bush abandoned the free market system to save the free market system

Unemployment over 20 percent by the end of Hoover's term; Unemployment was over 7 percent at the end of Bush — up from the 4.5 percent range

In 1932, Hoover increased top income tax rates from 25 percent to 63 percent; Obama is increasing top tax rates from 35 to 39 percent

FDR's policies included making unions stronger, regulating price controls, interfering with business and paying higher wages than the amount of productivity justified; Obama's "life work" is SEIU's life work. Obama has fired CEOs of companies and taken control of automakers and banks

FDR tried to revive economy with massive government spending and entitlements with the New Deal; Obama has tried to revive economy with massive government spending and expansion of entitlements with the stimulus, cash-for-clunkers, health care and financial reform, plus the takeover of student loan industry

Unemployment remained unresponsive and stayed stubbornly high throughout the New Deal and New Deal II; unemployment under Obama has gone up and stayed there, completely flat-lining despite the government "injections"

FDR blamed Hoover for the economic problems; Obama still blames Bush for "creating the mess" he has to "mop" up

In 1935, the Supreme Court struck down the NRA and in 1936, the court struck down the Agriculture Adjustment Act; today, 60 percent want a repeal of health care. Will the courts follow through?

In 1946, a successful GOP campaign "had enough" of Democrats; today, Tea Parties, whose universal issue is 'stop spending'

So we've followed Hoover and FDR almost step-for-step. Are we going to bottom out again and extend this slump just like FDR did? Well, we have to understand that there are critical differences between the 1930s and today:

Back then, the country had manufacturing. We could build ships, planes, tanks, etc.; today, we can't

Back then, our citizens didn't have crippling debt; today, we do

Back then, our grandparents saved their money; today, we don't

Maybe we could get someone really smart like Pete Stark to explain it to us. Oh wait, I forgot: It's people like Pete Stark who got us into this mess.

— Watch Glenn Beck weekdays at 5p & 2a ET on Fox News Channel

President Donald Trump's performance at last night's final presidential debate was "brilliant" and "the best he's ever done," Glenn Beck said on the radio program Friday.

Glenn described the moments he thought President Trump came across as "sincere," "kind," and "well-informed," as well as Joe Biden's biggest downfalls for of the night — from his big statement on wanting to eliminate the oil industry to his unsurprising gaffes as the debate neared the end. But, the question remains: was Trump's "brilliant performance" enough to win the election?

Watch the video be low to get Glenn's take on the final debate before the November 3 election:


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This is a moment "Cynical Theories" author James Lindsay probably hoped would never come. The liberal mathematician and host of the "New Discourses Podcast" recently came out as "unhappily" voting Republican, including for President Donald Trump, because the Democratic Party is now being controlled by a far-left movement that seeks to destroy our country and the U.S. Constitution.

He joined Glenn Beck on the radio program Thursday to explain why this election isn't "Trump versus Biden." It's Trump versus a "movement that wants to tear apart American society at its very foundation." Lindsay warned that if it isn't stopped, the left can toss out our rights by rewriting the Constitution — or abolishing it altogether.

"A lot of people don't understand what's happening with the election we have right now," he said. "They think it's a choice between Donald Trump and Joe Biden. And at the surface level, of course, it is. We're voting for each candidate to be duly put into the office of president. But that's not what we really have going on. We have, in Donald Trump, a man who's going to govern as we've all seen — the way he feels like he's going to govern. And we have in Joe Biden, a man captured by a movement that wants to tear apart the American society at its very foundation."

Lindsay noted the popular leftist narratives that call to "abolish anything they don't like," which now includes the U.S. Constitution. He added that "this is the movement that is controlling the Democratic Party."

"It is my belief, that there has been a largely effective kind of silent coup of the Democratic Party, that's turned it completely under the control of this movement. And that's what we're going to be electing with Joe Biden. So I can't do it," he said.

Watch the video below for more details:

Tonight at 9 p.m. ET, 8 p.m. CT, Glenn Beck goes straight to the source of the biggest story in the country with Mayor Rudy Giuliani, who takes us directly into Hunter Biden's alleged laptop.

Despite Big Tech's attempts to squash this story, there should be a mad scramble in the media to get to the bottom of major corruption allegations, but they're willfully ignoring it. However, this is not just a story about Hunter Biden. This is all about Joe Biden. It's a story Glenn has been investigating for over a year that traces back to Ukraine and China. It goes directly to the root of corruption within our political system: How politicians use their family members to enrich the entire clan and sell out their country. While the media looks the other way, Glenn asks Mayor Giuliani to show us the evidence. Giuliani details the chain of possession of the laptop and reveals news that he only had possession of the laptop days before the New York Post story broke. He says, "I reported this the day after I saw it."

He also drops a major bombshell on the show and says Big Tech doesn't want you to see evidence that "establishes with texts, documents, contracts" that "Joe Biden was a 10% partner with a Chinese communist … and there are witnesses that will come forward and testify to it."

Big Tech censorship is out of control. So to watch tonight's explosive episode of Glenn TV, you must be a BlazeTV subscriber. Because Big Tech is doing whatever it can to limit free speech, we're offering our most important discount on BlazeTV ever. Use promo code GLENN to get $30 off a one-year subscription, so you'll have 24/7 access to news and entertainment completely free of biased "fact-checks" and censorship.

Watch a preview of the show below:

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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

The Senate Judiciary Committee was set to vote on subpoenas to compel Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg to testify on alleged censorship and bias across their platforms. But that all changed when Republican committee members "expressed reservation about the maneuver," Politico reports.

Sen. Ted Cruz (R-Texas), who chairs Judiciary's Subcommittee on the Constitution, was definitely not one of the committee members with cold feet. On the radio program Tuesday, he told Glenn Beck that he's fighting "vociferously" to ensure Dorsey and others testify before the November 3rd election.

"Jack Dorsey and Mark Zuckerberg are both going to testify. They're are going to testify in person. They're going to testify before Election Day. That's what I think should happen," Cruz said. "That's what I'm fighting vociferously to happen. Right now, the companies are negotiating with the chairman's office to discuss terms to come voluntarily. I don't give a damn whether they come voluntarily or under subpoena. They need to testify in person and answer questions for the American people about why they are trying to steal this election, to suppress the free speech, and to censor the press."

The subpoenas would require Big Tech leaders to testify on the alleged "suppression and/or censorship" of two consecutive blockbuster stories from the New York Post. The first story was about emails that allegedly came from Hunter Biden's computer which are currently being investigated by the FBI, and the second was based on additional emails that allegedly showed communist China directly offering millions of dollars to then-Vice President Joe Biden.

"Big Tech stepped in, and they've done something they've never done before," Cruz explained. "We know that Big Tech has been censoring individual conservatives, trying to suppress conservative speech. But the step they took here is, they blocked if any individual user tried to share either of the New York Post stories, [they] were blocked ... Sharing a news story, from a major media outlet is part of democracy, part of free speech. And not only that, they blocked the New York Post itself. Right now, today, the New York Post is not being allowed to post its own damn stories on corruption. This is ridiculous. It's a threshold that's never been crossed before, of Silicon Valley oligarchs declaring the authority to determine what the press is allowed to report, and who is allowed to see it."

Watch the video below to catch more of the conversation:

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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.