This may be the most critical time in America, Glenn says. And might be facing the end of the road. In this clip, Glenn and Stu outline two HUGE issues facing America NOW. They’re not long-term problems, they explain. Rather, our economy and the way Biden has DESTROYED the U.S. oil & gas supplies are issues we must grapple with TODAY. That’s why this election is SO important.
Below is a rush transcript that may contain errors
GLENN: Thank you, for being wide awake. Thank you for paying attention. Stu and I were just talking off-air. And he said to me, you know, these aren't long-term plans anymore, or problems.
GLENN: These are happening right now.
STU: It's really scary. I talked to Bryan Reedle (phonetic) from the Manhattan Institute yesterday. Just about the debt. You mentioned it quickly, as one of the problems. And it seems like it's way down the road.
GLENN: It's not.
STU: Yeah. It's not down the road.
The government had an opportunity to lock in our debt, at 1.8 percent long-term.
This is a year ago. Now, Brian, who came on my show, and said this, at the time. Multiple times. Screamed about it. Yelled about it. Nobody listened to him. We didn't -- long-term debt. Instead we basically stayed on the equivalent of an adjustable mortgage, right? Hey, we'll keep it where it is now. We don't need to lock it in.
What if it goes down to 1.5, we would be stupid to get it at 1.8.
So they kept it on adjustable rate mortgages. Now, it's gone up to -- I think, already, 3.8.
GLENN: Couldn't --
STU: And if we know to remind you, for each percentage point, that these rates go up, it costs us $30 trillion over 30 years. So about a trillion dollars a year.
GLENN: For every point.
It's gone up two points.
GLENN: We've generally been running a budget. Last year, it was $6.8 trillion. But we only take in about 3 trillion, I think. When we're really going gangbusters.
You know, in taxes. We've been spending about 4 trillion every year.
That means, that today, today, just with the interest rates, we have $2 trillion of interest alone.
STU: Yeah. We're not getting anything for that. It's important to understand. We've already spent that money. This is just your rates going up.
GLENN: So half of the money that you pay, for income tax. Half of it, should go to just pay the lien. Just pay the interest on the loan.
STU: Money we've already spent.
GLENN: Correct, years ago.
Maybe even decades ago. So you're $2 trillion.
They're not going to cut our budget by $2 trillion. They're not going to do it. They'll instead, if it's a 4 trillion-dollar budget. And we have $2 trillion on top. We'll just take out another 2 trillion-dollar loan for the interest.
This is how you get to hyperinflation.
We must cut our spending. Time is -- we're at the end of the road, gang. We're at the end of the road. This election is so important.
By the way, you know, I just mentioned this. But I also mentioned the U.S. strategic oil reserves. Try this on for size.
During the Trump administration. Trump had negotiated with U.S. oil producers, to use shale. To fully fill the U.S. strategic petroleum reserve, for $24 a barrel.
Okay? Well, the Democrats went crazy. They blocked that plan. Schumer bragged. And said, you know what, we just blocked a bailout for big oil.
Twenty-four dollars a barrel is what he negotiated. Biden's Green New Deal policies have now effectively blocked all new U.S. oil production and imports since he took office, from the Keystone Pipeline, to issuing fewer new oil releases. To exploratory permits on federal lands.
He's done more than any president has done since World War II, on the wrong direction. He has spent the last month begging OPEC. And especially Saudi Arabia, to keep OPEC production, at all-time highs. Okay?
He went over there. They wouldn't even take his phone call. So he had to actually go over, and grovel. In front of the crown prince.
Now, the crown prince, remember, is the guy who they say, killed that reporter, Khashoggi. And during his campaign, he said, enough of Saudi Arabia. They killed Khashoggi, and that's crime. That's a crime. And we will hold him accountable.
So now he's got to go stand, or kneel, at the feet of that guy. And what did he say? I'm really, really sorry. I'm really, really sorry.
And if you just -- if you would just keep the OPEC production going, I'll grant you diplomatic immunity, from U.S. prosecution, for the murder of Khashoggi.
Wait. What? You could open things up, and you could have the oil here. You could go back to the Trump deal, I'm sure. Twenty-four dollars a barrel for shale oil. You won't do it. So you will go to not only beg at the feet of Saudi Arabia.
But you will offer him immunity. This was one of the big things that the Democrats wanted. How dare Trump. He's not going to do anything about the murder of Khashoggi. Oh, my gosh. He's a murderous animal. And the prince of Saudi Arabia is bad too.
And what does he do? Biden goes over and says, by the way, we won't prosecute you on that. And he this still, not only say no to him. They cut production, by 2 million barrels a day.
STU: It's important to note too, before this trip, they were threatening to cut to it 1 million barrels a day. Then he made this trip. He begged them. He offered them all these things. Then they cut it by 2 million barrels a day. Think about this.
Could there be a more incompetent person than Joe Biden?
I don't know. Maybe he's doing it all on purpose. And he's very competent. I don't know for him
But he is not acting in the best interest of the United States. Or he's not capable of doing it. One of the two.
GLENN: No. If Donald Trump were doing this.
Or if anybody was doing it. Anybody was doing this, six years ago. Wouldn't -- I mean, everybody -- I mean, everybody would be like, whoa. Whoa. Whoa. Whoa.
Wait. You're arresting people who are praying and singing in front of abortion clinics. Okay. Maybe. We're just going to ignore that.
But we wouldn't be going in guns a blazing with an FBI raid, when it locally had been dismissed.
We would -- we would never put up with these gas prices, we would have never put up with -- with Afghanistan. And then the politicizing of our troops. We would never, ever -- no Democrat -- I can't say no Democrat.
No traditional liberal would have ever said, yeah. Double mastectomy for 12-year-olds. I'm good with that. Oh, we have to cut his penis off. Yeah. Sure. He's eight. Why not?
Nobody would say that. No one would say that. And now we're apparently okay with it.
You trust these people?
And, you know, I -- I made a list today, of the most important races, out there.
And I wanted to talk to you about it, Stu.
Because you might disagree. But I think the most important race out there is the Fetterman/Oz race.
And here's why I say that. Not because I'm a big fan of Oz. I mean, if I lived in Pennsylvania. Yep. I would be voting for him. But not a big fan of him, necessarily.
But what does it say, about the people in Pennsylvania, that they will put a guy in, who is clearly damaged?
I have, you know -- I have great sympathy in my family. My grandfather had a stroke. My daughter had strokes.
I understand strokes. And I have great sympathy.
But I wouldn't have put my grandfather into the Senate.
Okay? I wouldn't do it. I love him. Love my daughter. But if you can't function like he can't, in a quick debate, where there's lots of noise, especially at a time, where the president is saying, yeah. We might be in Armageddon soon.
What time is it now?
This is the most critical time in American history. And the people in Pennsylvania, are even considering Fetterman.
VOICE: Eagles are so much better than the Eagles.
STU: Supposed to be our greatest deliberative body.
GLENN: Yeah. Yeah.
STU: What you know it says to me? It says that we've given up. If they put John Fetterman in. I mean, this is like, we've just -- we've flushed it. We've pulled the plug out of the wall. We're waiting for the heart to stop beating. This is over. We've just given up.
GLENN: We do not have a constitutional republic. That is why this is the most important one. Because it says something about Pennsylvania. And Pennsylvania voters. Really?
You're that apathetic. That uninformed. Or that much just past a republic, that you're like, whatever. It doesn't matter.
STU: Yeah. It's not an ideological submit. In fact, you look at Dr. Oz and if anything, and say, he's not particularly ideological. Right? I mean, he was not -- the guy we talked about as, oh. This is a great conservative voice. We need to make sure that Dr. Oz gets in. Because his positions on taxes are so important.
I mean, he's a good communicator. Obviously, he's had a very accomplished career. And has a lot of things. You can argue on this his side. He's not a guy who you can say, oh, my gosh. We can't put him in, because he's too conservative.
There's no real argument there.
GLENN: No, no.
He should appeal to the middle of the road voter. The middle Democrat.
GLENN: That is like, you know what, I don't want any of the crazies. He should appeal to those people.
STU: And then on the other side, you have a Bernie Sanders supporter. A guy -- a guy who wants to defund the police. A guy who is on the extreme left-wing of the AOC branch of the party. And because he wears a hoodie, and is tall and overweight. We're supposed to just dismiss this.
This is the ideological candidate here. When he can think. All he does is think like Marx.
And we're going to put that guy in the Senate, at this time, when he's not even capable of doing the socialist shtick right now.
GLENN: Now, this -- this should tell you something about the Democratic supporters. He has doubled his fundraising record, this quarter over last quarter.
Doubled his fundraising.
GLENN: New Jersey from all over the country. So there are Democrats, who are paying attention.
STU: Oh, yeah.
GLENN: And they are sending money to that guy.
STU: Well, if he gets in, he'll be a socialist essentially. So that's obviously, something they want. And you might say, well, how can they want a guy, who is in incapable of really doing anything at this point?
Even walking around and talking, seems very difficult for the guy.
STU: But, of course, this is why he's getting so much money from the Democrats. They want the seat. They want a socialist in there. And also, they know, he can't campaign on his own.
So everything they're doing, is this sort of spending a fortune, on people -- in their social media team. To come up with new insults for where Dr. Oz used to live.
What kind of platter is he buying at Wegmans? And this is their entire campaign.
GLENN: And it -- and it absolutely shows, that the people who are funding. The people who are really running this show, on the left, do not care about a republic.
You cannot care about a republic. A Democratic republic. Where you -- the people elect somebody who says, this person can speak for me.
You cannot make that case, when the guy cannot speak, because he can barely think.
You -- you don't want that. You want a rubber stamp. That's not a republic. Which one of us hates the Constitution?
Which one of us is the radical? Which one of us is pushing for a new style of America in
And which one of us is saying, this doesn't work. It hasn't worked for a long time. Let's look at the things that do work. Reestablish those. And get rid of all the stuff that doesn't work. Let's use common sense and logic. Oh, I forgot.
There is no logic. There is no common sense. Because in America, there is no longer any truth.