CLAY: There’s a New York Times editorial up, Buck, from Elizabeth Warren, senator from Massachusetts, that says: Democrats must pass their stalled agenda or brace for big losses in the midterms. The big losses in the midterms are happening no matter what. Here’s my concern, Buck. That Democrats might recognize that no matter what they pass, they’re getting shellacked.
But they also may recognize that Republicans are not gonna have enough of a majority in the House or the Senate to be able to overturn what they pass while they have the majority, while they have the Senate, while they have the House, and while they got the White House. And so whatever they pass would be in effect for multi-years because it’s difficult to overturn something.
And so I wonder if they’re just gonna throw their hands up, Buck, and say, “You know what? That argument I think is untrue from Elizabeth Warren. I don’t think it’s gonna change what’s gonna happen in the midterms.” I think she probably recognizes that. But what’s gonna change is the power to implement any of these policies, and they might just say, “Screw it. We’re gonna have a big tax increase. We’re gonna spend a bunch of your money while we can, ’cause otherwise — starting next year — we won’t be able to.”
So, I think that’s all true. It didn’t happen under Trump. I think that’s all noteworthy. But the scapegoating, Clay, that means that they’ll say, “Oh, are you having trouble buying gas? It’s ’cause of those greedy corporations. Are you having trouble making ends meet? It’s because the rich don’t pay their fair share.” Forget about the fact that it is government policy that drives inflation.
It is inflation that now means that the average American is working an extra month for free, basically. I mean, you’re looking at an 8% reduction in your wages for the year compared to… I know inflation’s usually about 2%, but real inflation — which is a whole other conversation of what you really need, not just what’s in the CPI basket — is higher than 8%.
CLAY: No doubt, and that is my concern now, that Democrats are gonna turn from, “Hey, let’s try to find a way to win some elections in the midterms,” to, “We’re done for. Let’s pass what we can while we still can.”
BUCK: It could happen.
CLAY: And that is a challenge. I think that might well happen.
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