BUCK: Clay, when I hear this exchange between Karine Jean-Pierre and Peter Doocy, I do have a moment where I wonder, “Does this White House…?” And not just Karine Jean-Pierre, Biden in general. Do they really think there’s like a magic money tree where it just comes from nowhere and you can erase the money from the debt and then it doesn’t…? Do they understand the basics of economics? I don’t think they do.

Fox Reporter Peter Doocy: "When you forgive debt you're not just disappearing debt, so who is paying for it?"@PressSec Karine Jean-Pierre: "We are doing this in a smart way […] I just laid out for you how we’re seeing this process and why it matters." https://t.co/nl8Q0DFxZr pic.twitter.com/vC28fk7eUc

— The Hill (@thehill) August 25, 2022

CLAY: No. I really don’t think they do. And I think it’s bigger than just the Biden White House. There is almost no Democrat now who understands running a business, revenue, profit, basic economics, because $500 billion… Again, leaving aside the constitutionality of it, which it isn’t constitutional. I’m really upset about the badly named Inflation Reduction Act. We’ll talk about this more. But at least it passed, Buck. This is all made up.

BUCK: It’s a stupid decision, but they have the right to do it (chuckles), unlike this decision.

CLAY: Yes.