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As Democrats split over a massive spending plan, Fox News host Dan Bongino said on Friday that Sen. Joe Manchin, DW.Va., was “saving the Democratic Party from itself” by refusing to sign a spending program exceeding $ 1.5 trillion. angry progressives.
“We don’t have that money and Manchin is smart here. Manchin says if we don’t have the money and we have to issue bonds to increase it, right.… That’s right. a simple economy 101. We don’t have the money. The tax base is not there. So where does the money come from if we’re going to spend it? Well, it comes from issuing bonds Well, when nobody buys the debt securities, the Federal Reserve buys them and prints the money, “Bongino told the” Brian Kilmeade Show. “
“Manchin is actually saving Democrats from themselves,” Bongino said, arguing that Manchin is worried about how the massive spending might affect the party’s electoral chances in 2022.
The WCA LAUGH AT THE SPENDING OF 1.5 TILLION MANCHIN DOLLARS
As Democrats control the House, Senate and White House, they have been fighting over the president’s passage for months Bidenthe spending program, progressives pushing for major social and climate initiatives that have pushed back moderate parties.
Manchin, a Democrat from West Virginia, is a big hurdle for Democrats to push through the massive $ 3.5 trillion bill. The legislation faces unanimous opposition Republicans, which means Democrats will once again be forced to use the budget reconciliation process to attempt to pass the bill by a simple majority.
But with an equally divided Senate, Democrats cannot afford any defection from the party if the bill passes. Manchin and Arizona Senator Kyrsten Sinema both raised concerns about the bill’s price, sparking friction within a party that has largely otherwise coalesced around the package.
Bongino continued, “Manchin said, well, if we end up printing half a trillion or a trillion or a trillion point five dollars and randomly insert it into the economy, that’s over. money for the same products, which means the products will cost more and inflation will get even worse. The Liberals are hearing this for the first time. But Manchin is not an idiot. “
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Bongino said massive inflation occurred under former President Jimmy Carter and then he was “crushed” when he ran for re-election.
“What crushed Carter, stagflation. You can hide the taxes in a million different places. You can’t hide the inflation. You go to the gas tank, you fill your gas tank and that’s it. is seven dollars a gallon, ”he said.
“That’s what happened to Carter. He got run over.”
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