shannon. i think it is really important to get this number 1.4 trillion into this discussion right now. that is the amount of deficit reduction in fiscal year 22. okay question mike that comes top of 350 and deficit reduction in the year before that. we ate we talked by that comes off massive covid spending. actually part of it is unwinding of covid spending you are right about that. and% terms the bigger contributor to that decline and deficit spending is receipts receipts coming into the treasury. that is because of how strong the economy has been. that also gets a question you just raised in this issue of recession. we have an unemployment rate that is 3.5%. there is no recession that would prevail with that kind of unemployment rate. were adding hundreds of thousands of jobs per month. we have consumers who still have job vacancies that are quite elevated, there s a lot of
some das in prosecutors and communities letting caramels walk out on the street right after committing violent crimes. we saw in new york greatly zelda in our great candidate for governor somebody tried to take his life on the stage at a political rally. the guy was let out the next day. that is what is going on the people are furious about. that is why it s a major issue in a lot of these races and democrats will not walk away from the defend the police and their cashless bail approach that has failed so many cities across america. shannon: year the words to describe your agenda they called extreme mag agenda parade this is what speaker pelosi said about the issue of abortion. she said 166 house republicans including geo- pete webb school s have sponsored a life begins at conception bill that would criminalize all abortion after the moment of fertilization without exception for rape, incest or the health of the woman that position does not pull well with voters so how do you defend it
shannon: when those move in the right direction that s a good thing all the other issues that show up. let s talk about this. when present biden took office, inflation was about 3%. gas prices were about 2:30 nine they re not where they were two years ago. more than 30% milk more than 15%. our new polling shows 71% of americans say they are having to cut back just to afford necessities but not anything fun or luxurious. also they say compared to the situation two years ago, they are worse off the majority of them. what you say to those? let me speak to them directly. all of those facts are facts of which we are acutely aware. when present biden came out to talk about this last inflation where he started by talking about exactly that. the squeeze on family budgets. i think you have to ask yourself
fuels to clean energy is a disingenuous. the oil prices u.s. consumers. you two choices their leaders made. kevin, you ve heard jared bernstein with me early in the show they are ramping up production we are doing great on the u.s. production side. cards jared bernstein is a nice guy but he is dead wrong pretty talk to americans the gas prices are going up. at the same to any of the president united states giving a fist bump to the leader of saudi arabia. also telling us the solution is to buy energy-efficient coffeemakers for the way back to controlling inflation in american dependence is going back to where we were just in 2019, shannon when america was a net oil expert that s beneficial for every american for even americans who think wind and solar production is a sweet thing. don t mess with the coffeemakers everyone s going to refund a psalm on that for the present also said this week if you elect republicans, think of the gop control you just watch inflation get terrible for this
you are paying 10,000 dollars, someone on medicare on your prescription drugs you re going to save $8000 under the ira. these measures are in effect republicans say they want to take them away. if you are paying hundreds of dollars on insulin per month and now you get to pay $35 starting in january, they want to take that away. that to me is a recipe for more inflation, higher costs not easing the pressures that you just took us through. shannon: ils steve scalise the congressman is going to be with us in minutes but i m going to ask about that. enemies have a site about mortgages. we talked about this little but forgot started but let s use the example the median home prices rated $90000. back when inflation rate was about 3.05%. that would been $1000.1324 a month. so let s fast forward that to now. mortgage rates have more than doubled this year alone. you take that same house added 6.92 mortgage, $2000 a month it is $735 more each month.