Fmr. Biden Economic Adviser: ‘We Certainly Never Thought About Doing Anything that Would Raise Cost’

RUSH TRANSCRIPT Jared what ░░░░░░░░ you think about the ░░░░░░░░ that it s being ░░░░░░░░ by Trump called it ░░░░░░░░ little disturbance You heard ░░░░░░░░ You heard Markwayne Mullin ░░░░░░░░ look I m not ░░░░░░░░ to mock them specifically ░░░░░░░░ m merely pointing out ░░░░░░░░ money isn t an ░░░░░░░░ for you It is ░░░░░░░░ to see how a ░░░░░░░░ increase that is is ░░░░░░░░ for many is so ░░░░░░░░ I mean you heard ░░░░░░░░ say you know cheap ░░░░░░░░ is not the essence ░░░░░░░░ the American dream Many ░░░░░░░░ beg to disagree on ░░░░░░░░ On that fundamental point ░░░░░░░░ what do you think ░░░░░░░░ the fact that that ░░░░░░░░ this is how they ░░░░░░░░ saying well it s ░░░░░░░░ it s just a ░░░░░░░░ bit of price for ░░░░░░░░ Yeah Look the governor ░░░░░░░░ the politician here but ░░░░░░░░ me offer a little ░░░░░░░░ political advice and I ░░░░░░░░ he would agree with ░░░░░░░░ If you re a ░░░░░░░░ especially if you re ░░░░░░░░ billionaire you should never ░░░░░░░░ people not to worry ░░░░░░░░ higher prices All right ░░░░░░░░ should just be something ░░░░░░░░ s kind of etched ░░░░░░░░ everything you you think ░░░░░░░░ This is we know ░░░░░░░░ the American consumer has ░░░░░░░░ dealing with this this ░░░░░░░░ this challenge these pressures ░░░░░░░░ a while And when ░░░░░░░░ was in the Biden ░░░░░░░░ we were doing what ░░░░░░░░ could to help cut ░░░░░░░░ We can argue about ░░░░░░░░ far we got but ░░░░░░░░ we certainly never thought ░░░░░░░░ doing anything that would ░░░░░░░░ costs And here we ░░░░░░░░ we ve talked about ░░░░░░░░ re on pause for ░░░░░░░░ but they re on ░░░░░░░░ for only a month ░░░░░░░░ re talking about tariffs ░░░░░░░░ could raise the price ░░░░░░░░ a vehicle by between ░░░░░░░░ 509 000 You re ░░░░░░░░ about avocados which still ░░░░░░░░ will be tariff That ░░░░░░░░ the White House was ░░░░░░░░ about that today adding ░░░░░░░░ 50 per per item ░░░░░░░░ The price of gas ░░░░░░░░ ve seen estimates could ░░░░░░░░ up 0 20 per ░░░░░░░░ That s real money ░░░░░░░░ real people And if ░░░░░░░░ re a millionaire or ░░░░░░░░ and you re dismissing ░░░░░░░░ you re you re ░░░░░░░░ re making a big ░░░░░░░░ and frankly you re ░░░░░░░░ people Governor what do ░░░░░░░░ think You know access ░░░░░░░░ cheap goods is not ░░░░░░░░ essence of the American ░░░░░░░░ We re going to ░░░░░░░░ to adjust some prices ░░░░░░░░ it What we were ░░░░░░░░ today from some close ░░░░░░░░ Trump If that was ░░░░░░░░ case Walmart would not ░░░░░░░░ grown as it did ░░░░░░░░ of Arkansas In fact ░░░░░░░░ became a phenomenon again ░░░░░░░░ dislocation in fairness in ░░░░░░░░ process and small businesses ░░░░░░░░ were hurt But it ░░░░░░░░ a phenomenon because people ░░░░░░░░ indeed want cheaper goods ░░░░░░░░ s struggling to make ░░░░░░░░ And you re not ░░░░░░░░ millionaires and billionaires to ░░░░░░░░ s point But most ░░░░░░░░ are out there struggling ░░░░░░░░ make it and if ░░░░░░░░ could save a little ░░░░░░░░ at home they want ░░░░░░░░ do so I think ░░░░░░░░ administration is playing with ░░░░░░░░ fire here You know ░░░░░░░░ look at what happened ░░░░░░░░ you know the 1930s ░░░░░░░░ smoot hawley tariff act ░░░░░░░░ know world trade imploded ░░░░░░░░ two thirds during that ░░░░░░░░ period I mean if ░░░░░░░░ set off the match ░░░░░░░░ lights a trade war ░░░░░░░░ there will be hell ░░░░░░░░ pay politically and there ░░░░░░░░ be real consequences in ░░░░░░░░ s lives And there ░░░░░░░░ consequences on war and ░░░░░░░░ Perhaps too as in ░░░░░░░░ historical time frame.