Glenn Beck: All the money in the world

GLENN: I have told you on this program that our debt is over $130 trillion, $130 trillion. I have told you there's no way in hell we can afford $130 trillion, but I don't think people really understand because billions, trillions, it doesn't have you noticed that in this administration and I want to make it very, very clear. I do not blame Barack Obama for $130 trillion. I blame him for about $20 trillion of the $130 trillion, and that's in the added debt. The actual debt I think I blame him for, what, is it $4 trillion so far?

STU: Is that it? I mean

GLENN: Yeah.

STU: I mean, jeez, you're talking about this guy like he's the worst guy in the world and it's like $4 trillion.

PAT: Come on.

STU: You go to Vegas for a weekend and you blow around that, right? I mean, I don't know the numbers exactly.

PAT: About 40, $40 trillion.

GLENN: In 2008 Forbes came out with an article that said that we are $70 trillion in debt. But I just want to show you how much trouble we're in. $70 trillion. Let's say, let's say that Forbes is right. And let's have a party. It's only 70 you ready? At the time of the 2008 Forbes article, the entire supply of money in the world that's the broad money supply, the M3, it means cash, consumer account deposits, checkable accounts, CDs, long term deposits, travelers checks, the money market funds. So in other words, anything that is actual cash, that was under $60 trillion. So what that means is if it's only $70 trillion, our outstanding obligations amount to more than all of the money in the world.

PAT: Combined.

GLENN: Hmmm?

PAT: Combined. All money from everywhere, all forms combined.

GLENN: But it's only the global GDP.

PAT: But that's only $10 trillion more.

GLENN: Yeah.

PAT: So that's not bad.

GLENN: Yeah.

STU: Didn't you say it was really $130 trillion?

GLENN: Yeah, but let's be so be so pessimistic, oh, the sky is

STU: Your whole optimistic number above what all numbers

GLENN: The sky is falling, the sky is falling.

PAT: How many trillion dollar bills do you have to print up?

GLENN: Okay. So here's

PAT: Ten. That's all.

STU: That's a little paper. You don't have to worry about using too much paper but

PAT: A little ink. It doesn't cost that much.

GLENN: So the global GDP in 2008 was $60 trillion. All the money in CDs and checking, everything. Every single dollar out there is under $60 trillion. The global GDP, every single dollar, the entire annual economic output of human civilization is $60 trillion.

STU: Yeah, he does make a good point there, Pat, that you can't just start printing trillion dollar bills but if you print one $10 trillion bill, that's a lot more efficient.

PAT: There you go.

STU: And then you can just pay it the one time.

PAT: There you go.

GLENN: Okay. So now, why do I bring this up to you? Because I want to show you how much trouble we're in and the decisions that we're going to have to make. Because we are going to have to make tough decisions, and no one is talking about the tough decisions. They are still telling you that you can have it all. They are still telling you, if you vote for the Republicans, they're going to cut off education. They're going to yes! I got news for you. Everything's going to they're going to turn off the lights one of these days. I can't believe the irresponsibility I'm not going to say. There was I said in Alaska this and, of course, people took it out of context. I said to the Alaskan audience on Saturday, I said, do you know who you are? Do you know what you are? You are Fort Knox. That's what you are. You are always intended to be Fort Knox. You are a state rich with natural resources. And, of course, we're not going to exploit them. But here's the bad thing. If the economy collapses and the United States of America has no money to defend anything, make sure you grab your guns and your knives and your forks and your spoons because the Russians, the Chinese, everyone is coming to Alaska! Because that's where the money is. Now, that's not begging for World War III. That's called giving you the facts. But see, there are those people that really want this to collapse. And they are planning on violence. They're planning on it. We've already shown you. We've already seen it with SEIU. We've shown it to you over in Europe. There's a new story over in Europe about the labor unions. Remember my theory is they are ahead of us. The labor unions are now saying, get out on the streets.

PAT: Yeah. They warned a crowd today as 150,000 public sector jobs, job losses, are already in the pipeline. So they are telling everybody that they are going to lose 150,000 jobs. And, of course, police, the councils, the courts, the hospitals are all laying off workers. Those, they have got to be the first to go. You've got to start, you've got to start with teachers.

GLENN: And the hospitals.

PAT: And the police and hospitals. You have to. There's no other cut you can possibly make. I mean, you wouldn't want to cut garbage service, you wouldn't want to cut pensions.

GLENN: Here's the thing. This is the unions that are saying this. This sounds familiar. The unions that have set this whole system up, after World War II, this is why Road to Serfdom was written. It was written in England and he wrote it because he said, you're on the Road to Serfdom; this won't work. And so this was why the Road to Serfdom was written. They are still now trying to say it's the evil capitalists. And so what are they doing? Pat, what are they doing?

PAT: They're cutting. And they said, the Labor Party is saying that they're militant about these extreme cuts.

GLENN: Militant, keyword militant.

PAT: So they are sending people out in the street to protest and potentially riot, and you know that's what's going to break out.

GLENN: Yes.

PAT: There will be

GLENN: It's exactly what happened in Greece.

PAT: Molotov cocktails, there will be, you know, overturned cars, there will be rioting in the streets, somebody's

GLENN: Dogs and cats will be living

PAT: Right, exactly.

STU: And in Europe as they go, you know, on this path, as you said, Glenn, they're ahead of us, you know, they go this path of making their countries just solvent. I mean, they are not trying to, you know they are still going to be in debt by a lot.

GLENN: Yeah.

STU: Even though these movements are going on.

GLENN: They are just trying to let their country survive.

STU: Right.

PAT: They are just trying not to drown right now in the debt that they have.

STU: As you point out the labor unions are talking about this. Also all you hear about in Europe is, oh, the extreme rightwing, the far right and all their violent tendencies. Yet the European police office has released a report on violence from terrorist violence in Europe and it is increasing at a fairly alarming rate.

GLENN: Isn't it like 40% over last year, something like that?

PAT: It is, let's see, I had the number here somewhere. I'll get you that number here in a second.

GLENN: All right.

STU: But the categorizing of the people who are doing the attacks is really the most alarming part which is leftwing violence, they had 39 leftwing attacks in Europe in 2009.

GLENN: I have seen this violence before in the Sixties.

STU: I know.

GLENN: Leftwing violence.

STU: 39.

GLENN: Okay, 39. But how many on rightwing violence?

STU: Right, how many more of rightwing violence?

GLENN: Yeah.

STU: Actually, no, it was 38 less. There was one attack from rightwing sources in Europe in 2009, and 39 from leftwing.

GLENN: How many from Islamic terrorists?

PAT: Wow.

STU: And, of course, Islamists, they beat both groups at 89 total attacks. And separatists were even further.

GLENN: Look at that.

STU: That's amazing.

PAT: But that's only 89:1.

GLENN: It's 89:1.

STU: And 39:1.

GLENN: And 39:1 and yet it is the evil rightwing.

STU: Right.

GLENN: I mean, that's incredible.

PAT: We've seen this before.

PELOSI: I have concerns about some of the language that is

GLENN: All right. Stop, I can't take it.

In light of the national conversation surrounding the rights of free speech, religion and self-defense, Mercury One is thrilled to announce a brand new initiative launching this Father's Day weekend: a three-day museum exhibition in Dallas, Texas focused on the rights and responsibilities of American citizens.

This event seeks to answer three fundamental questions:

  1. As Americans, what responsibility do we shoulder when it comes to defending our rights?
  2. Do we as a nation still agree on the core principles and values laid out by our founding fathers?
  3. How can we move forward amidst uncertainty surrounding the intent of our founding ideals?

Attendees will be able to view historical artifacts and documents that reveal what has made America unique and the most innovative nation on earth. Here's a hint: it all goes back to the core principles and values this nation was founded on as laid out in the Declaration of Independence and the Bill of Rights.

Exhibits will show what the world was like before mankind had rights and how Americans realized there was a better way to govern. Throughout the weekend, Glenn Beck, David Barton, Stu Burguiere, Doc Thompson, Jeffy Fisher and Brad Staggs will lead private tours through the museum, each providing their own unique perspectives on our rights and responsibilities.

Schedule a private tour or purchase general admission ticket below:

Dates:
June 15-17

Location:

Mercury Studios

6301 Riverside Drive, Irving, TX 75039

Learn more about the event here.

About Mercury One: Mercury One is a 501(c)(3) charity founded in 2011 by Glenn Beck. Mercury One was built to inspire the world in the same way the United States space program shaped America's national destiny and the world. The organization seeks to restore the human spirit by helping individuals and communities help themselves through honor, faith, courage, hope and love. In the words of Glenn Beck:

We don't stand between government aid and people in need. We stand with people in need so they no longer need the government

Some of Mercury One's core initiatives include assisting our nation's veterans, providing aid to those in crisis and restoring the lives of Christians and other persecuted religious minorities. When evil prevails, the best way to overcome it is for regular people to do good. Mercury One is committed to helping sustain the good actions of regular people who want to make a difference through humanitarian aid and education initiatives. Mercury One will stand, speak and act when no one else will.

Support Mercury One's mission to restore the human spirit by making an online donation or calling 972-499-4747. Together, we can make a difference.

What happened?

A New York judge ruled Tuesday that a 30-year-old still living in his parents' home must move out, CNN reported.

Failure to launch …

Michael Rotondo, who had been living in a room in his parents' house for eight years, claims that he is owed a six-month notice even though they gave him five notices about moving out and offered to help him find a place and to help pay for repairs on his car.

RELATED: It's sad 'free-range parenting' has to be legislated, it used to be common sense

“I think the notice is sufficient," New York State Supreme Court Judge Donald Greenwood said.

What did the son say?

Rotondo “has never been expected to contribute to household expenses, or assisted with chores and the maintenance of the premises, and claims that this is simply a component of his living agreement," he claimed in court filings.

He told reporters that he plans to appeal the “ridiculous" ruling.

Reform Conservatism and Reaganomics: A middle road?

SAUL LOEB/AFP/Getty Images

Senator Marco Rubio broke Republican ranks recently when he criticized the Tax Cuts and Jobs Act by stating that “there's no evidence whatsoever that the money's been massively poured back into the American worker." Rubio is wrong on this point, as millions of workers have received major raises, while the corporate tax cuts have led to a spike in capital expenditure (investment on new projects) of 39 percent. However, the Florida senator is revisiting an idea that was front and center in the conservative movement before Donald Trump rode down an escalator in June of 2015: reform conservatism.

RELATED: The problem with asking what has conservatism conserved

The "reformicons," like Rubio, supported moving away from conservative or supply-side orthodoxy and toward policies such as the expansion of the child and earned income tax credits. On the other hand, longstanding conservative economic theory indicates that corporate tax cuts, by lowering disincentives on investment, will lead to long-run economic growth that will end up being much more beneficial to the middle class than tax credits.

But asking people to choose between free market economic orthodoxy and policies guided towards addressing inequality and the concerns of the middle class is a false dichotomy.

Instead of advocating policies that many conservatives might dismiss as redistributionist, reformicons should look at the ways government action hinders economic opportunity and exacerbates income inequality. Changing policies that worsen inequality satisfies limited government conservatives' desire for free markets and reformicons' quest for a more egalitarian America. Furthermore, pushing for market policies that reduce the unequal distribution of wealth would help attract left-leaning people and millennials to small government principles.

Criminal justice reform is an area that reformicons and free marketers should come together around. The drug war has been a disaster, and the burden of this misguided government approach have fallen on impoverished minority communities disproportionately, in the form of mass incarceration and lower social mobility. Not only has the drug war been terrible for these communities, it's proved costly to the taxpayer––well over a trillion dollars has gone into the drug war since its inception, and $80 billion dollars a year goes into mass incarceration.

Prioritizing retraining and rehabilitation instead of overcriminalization would help address inequality, fitting reformicons' goals, and promote a better-trained workforce and lower government spending, appealing to basic conservative preferences.

Government regulations tend to disproportionately hurt small businesses and new or would-be entrepreneurs. In no area is this more egregious than occupational licensing––the practice of requiring a government-issued license to perform a job. The percentage of jobs that require licenses has risen from five percent to 30 percent since 1950. Ostensibly justified by public health concerns, occupational licensing laws have, broadly, been shown to neither promote public health nor improve the quality of service. Instead, they serve to provide a 15 percent wage boost to licensed barbers and florists, while, thanks to the hundreds of hours and expensive fees required to attain the licenses, suppressing low-income entrepreneurship, and costing the economy $200 billion dollars annually.

Those economic losses tend to primarily hurt low-income people who both can't start businesses and have to pay more for essential services. Rolling back occupational licenses will satisfy the business wing's desire for deregulation and a more free market and the reformicons' support for addressing income inequality and increasing opportunity.

The favoritism at play in the complex tax code perpetuates inequality.

Tax expenditures form another opportunity for common ground between the Rubio types and the mainstream. Tax deductions and exclusions, both on the individual and corporate sides of the tax code, remain in place after the Tax Cuts and Jobs Act. Itemized deductions on the individual side disproportionately benefit the wealthy, while corporate tax expenditures help well-connected corporations and sectors, such as the fossil fuel industry.

The favoritism at play in the complex tax code perpetuates inequality. Additionally, a more complicated tax code is less conducive to economic growth than one with lower tax rates and fewer exemptions. Therefore, a simpler tax code with fewer deductions and exclusions would not only create a more level playing field, as the reformicons desire, but also additional economic growth.

A forward-thinking economic program for the Republican Party should marry the best ideas put forward by both supply-siders and reform conservatives. It's possible to take the issues of income inequality and lack of social mobility seriously, while also keeping mainstay conservative economic ideas about the importance of less cumbersome regulations and lower taxes.

Alex Muresianu is a Young Voices Advocate studying economics at Tufts University. He is a contributor for Lone Conservative, and his writing has appeared in Townhall and The Daily Caller. He can be found on Twitter @ahardtospell.

Is this what inclusivity and tolerance look like? Fox News host Tomi Lahren was at a weekend brunch with her mom in Minnesota when other patrons started yelling obscenities and harassing her. After a confrontation, someone threw a drink at her, the moment captured on video for social media.

RELATED: Glenn Addresses Tomi Lahren's Pro-Choice Stance on 'The View'

On today's show, Pat and Jeffy talked about this uncomfortable moment and why it shows that supposedly “tolerant" liberals have to resort to physical violence in response to ideas they don't like.