BUCK: This is from CNBC: 8.3%. “Unexpectedly” is all over the place.

CLAY: Every time we get a new inflation reading… And I’m just saying, at some point wouldn’t the economists have to — if you’re surprised 12 straight months, wouldn’t you have to — adjust your expectations at some point?

BUCK: This is like the media lib or Democrat politician gets sick — Bill Gates just got covid, right? “I just want to say I’m thankful for being vaccinated and boosted.” Look, whatever. Just the fact that you have to feel the need to genuflect in that way as though the vaccine gods are expecting their praise is absurd. But it’s the same thing with economists. If you want to be invited on…

I don’t watch the financial networks, but if you want to be invited on CNBC or whatever, you’ve gotta play this game of, “Oh, wow, under Biden who’s just so good at the economy and so smart and Kamala really knows what’s going on and” yada yada yada, all the rest of it. You gotta say that you were expecting a different number because if people start to realize that it’s not a surprise, Clay, then they ask the question, “Well, hold on a second.

“Why should we expect the economy keeps getting crappier? Maybe because the people in charge aren’t good at this, right?” They want to avoid that recognition. The most recent numbers I saw — if you saw different numbers, Clay, let me know — gasoline up 43%; used cars up 22%; meat, fish, eggs, 14%; new cars, 13%; food at home up 10.8%; transportation, 8%.

That’s unsustainable for a lot of families. That means a lot of U.S. families start running in the red, start running up credit card debt, millions and millions of families. And then you add the baby formula thing on top of it, and we got famous lib actors running around complaining about soy milk. It’s amazing.

CLAY: Yeah. And, Buck, what we should continue to emphasize — and I know a lot of people out there listening know exactly what this feels like is, inflation is a default tax. For all of the lies, basically, that Joe Biden has spread about how he’s middle-class Joe from Scranton, Pennsylvania, and he cares about families, you basically, if you had a job, let’s say you were making $60,000 a year.

BUCK: You have gotten a roughly 10% cut in your overall income, around $6,0000 or $7,000 just since Joe Biden became president based on inflation alone. I mean, I can say this as a guy who — and I can’t speak for you in this regard, Clay, but by all means. I’m a guy who’s made $40,000 a year.

CLAY: Oh, certainly I have.

BUCK: That’s my salary. I’m a guy who’s made $60,000 he a year and I’m a guy who’s made $75,000 a year, and the differences — you know, once you get to a certain level, you know, it’s nice and maybe you can do a little. But the difference in, you know, 40 and 60 for folks and the difference between even 50 and 55 and 40 and 45, that is substantial.

CLAY: Massive.

BUCK: I know ’cause I lived it, right? Like you understand, you understand, too. Nancy Pelosi, in her $15 million or whatever it is San Francisco mansion has no clue. She doesn’t know how to pump gas, she doesn’t buy her own groceries. She hasn’t done that in 50 years, folks. Give me a break.

CLAY: Buck, I had two kids that I was responsible for, and I was making $40,000 a year. So when you’re making $40,000 a year and you got kids and you got expenses hangin’ out there, when you’re talking about almost double-digit inflation, you’re taking $4,000 out of a $40,000 salary, that is a massive amount in terms of how much it can impact on your budget.

Look, neither of my parents, Buck, ever made $50,000 a year. So when you’re talking about what the impact is of a day-to-day existence for so many people out there across the country, they are struggling. Biden has no answers. Biden has become, Buck, Jimmy Carter without the accomplishments.

BUCK: No, we’ve agreed on this one for a long time, Clay. It is unfair to compare him to Jimmy Carter.

CLAY: Jimmy Carter’s far better.

BUCK: Jimmy Carter’s smarter and way more competent than Joe Biden is. I think that much is clear.