was able to do in 2012 with the auto bailout. i think when you look at the combined effect of the investments in this bill, encouraging domestic manufacturing, the infrastructure investments, and the semiconductor bill, encouraging domestic manufacturing, i think you re going to see biden or whoever is the democratic nominee in 2024 going to rusted out industrial communities and making the case that we have invested in your prosperity the same way obama s awas able to do across the midwest. a lot is happening. good to have you on. looking forward to having you back soon. coming up next this hour, the attorneys for former president trump are now in direct talks with the justice department about its january 6th investigation. and specifically how far they believe they can take their executive privilege claims. we re going to inin ining to hm cnn s exclusive reporting coming up.
that big. the markets were supposed to go up. this send it did not. send it senate did not. looking to help the auto companies. direct law moment, certainly. it started with president bush. do you regret any of that? i disagreed with bailing out the automobile companies. we encouraged the process to go forward for chapter 11. the banks are part of a financial system that is the heart and soul of our economy. a lot of people who understood the first big financial rescue and then the auto bailout which was under the
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republicans at the time. president trump s farm bailout because of the tariffs is more than twice that. $28 billion. if you give people free money, then it does help the economy. okay. so it s a little bit different than comparing the auto bailout and the agricultural money. the agricultural money was an existing law when president trump took office. what happened was because president trump is pursuing a confrontational trade policy, you know, then other people responded by going after our farmers and so then they got the sort of protection that was already in the law when that occurred. i think it s a little bit different thanes the sort of bailout of the auto industry which happened really at the u.s. treasury. i m just talking about the principle of bailouts that you like them or don t like them i don t like bailouts, that s right. in this case there are times when, you know, people get hit by, you know, something and then they need insurance. so what s going on in the farm
i remember when republicans didn t are like the auto bailout and so much human cry and you are saying twice as much yeah. to make this farm thing. you could say redistribution of wealth. orchestrated by republican administration. wouldn t that be socialism? i was told there would be no socialism. $50 billion of farm purchases. how much did it cost u.s. taxpayers and consumers in tariffs over the last year? $28 billion for the farm bailout and something like $5 billion a month i want to say for american companies that had to pay for the tariffs. there are still tifrs and some strategic tariffs on. china has this china 2025 made in china strategy to try to dominate all high tech. the united states still has tariffs on those things to try and protect american companies in that industry. the national security struggles with china are still not over. they re real. they re very real and increasing bipartisan consensus