challenge. that's why spark light is to keep you connected. we're doing our part so it's a little easier to do yours. >> spark light, giving you a front row seat to democracy. >> come up this morning on "washington journal," we'll take your calls and comments live. and then barron's ideas on theux . and journalist chris geidner talks about his "substack" news le"washington journal" is next >> i don't debate as i used to do know. i know how to tell the truth! [captions copyright national cable satellitcorp. 2 the national captioning institute, which is responsible for its caption content and accuracy visit ncicap.org] host: good morning. it that was president biden

yesterday campaigning in north rough performance in thursday's some to question hould stay in the debate. we want to hear specifically from democrats. do you think president biden should step aside in 2024? four phone number for democrats who believe should, 202-748-8000. if you think you're not sure, 202-748-8002. you can text us as well 202-udd where you're writing in from. we're also on socialedia facebook.com/cspan and on x at @cspanwj. while some of those calls for president biden to step aside are happennversations, there are some public calls as well including times" editorial board, with the headline "to serve his country president biden should leave the race." that editorial part, the president appeared on thursday of a great public servant. he struggled to expl would accomplish in the second

term. he struggled to mr. trump's provocation and struggled to mr. trump accountable and more than once he struggled to sentence. mr. biden has been an admirable president. and the wounds ripped open byhad begun to heal but the greatest public semifinals is to announce that he cannot continue to run for re-election. president biden is getting quite a number of support including on social media- then

another from -- mere showing jim clyburn on his message to democrats pee concern by biden's performance. and reporting from the biden campaign -- team race $14 million day. -- more now from president biden in north carolina on thetrail where he was acknowledging his debate performance. pres. biden: i know i'm not a young [laughter]

[applause] [cheering] pres. biden: i don't speak as smoothly as i used debate as well as i used to. but i know what i do how to tell the truth! [cheers and know. i know. i know right from wrong. [cheers and applause] and i know how to do job. i know how to get things and i know that get knocked down, you get back up. [cheers and a i know the truth. our strongest economy in the world. i know what it will take to bringon

everybody. i don't take the rally the world to stand u not yield to him. and i know what it takes to keep the world safe in years ahead. folks, i gave youo word i can do job. host: now, the question is for many and here in the headline in "the w that specific question, could biden beas 2024 democratic nominee? and that reads in part, is it too late to replace biden on the ticket? the simple answer is no but to do so, it's likely he would have to first agree to step aside there. was no indication on friday that he was planning to do so though some democratic strategists and office holders have quietly said it's a conversation the party will have to hav if he does, it's actually quite procedurally

for delegates of the for someone else when they convene in chicago. through biden's primary and caucus victories, he has amassed support from the mast support of delegates. and that is from "the washington post." now, let's go to we'll hear first from jerry in detroit, michigan, who believe yes, president biden should step aside. why is that, jerry? caller: biden should not step down. i believe that in any way there's always for

comeback. by the way. i think there is absolutely way too stake amidst nald trump, the leader of the insurrection back into the white house.ere's a lot going on on the line now. president biden should stay the course. be in it. and i also want to bring up something else if i mayllow me. the day afterto get on but the line was busy at that time. and i wanted to answer a lot of the conspiracy theories that donald trump and his supporters promoting concerning the attack on the capitol and blameing nancy pelosi for it. for listening, nancy pelosi was not in charge it authority -- host: ok, jerry. we are going to keep it on this topic for the morning. next up, we have susan on our yes. go ahead susan. caller: hi yes. believe that biden should

remain in office and he perfect person right now. he is trying to rebuild america and keep the country forward, not backwards, unlike the mag g.o.p. leadership who are trying to move the country backwards in time. and women's meth issues to me are important. i have daughters. that biden will protect their rights and trump maga leadership in congresse states to implement laws that impede my daughters' health. and i believe that biden needs to repair the supre court. it's out of bounds. it's quite obvious maga isin the supreme court there. are justice loss quite clearly supporting maga agendas. so that's all i need to say today. so thank you and biden should stay in place.

host: ok. alma is in new jersey city on our no line. good alma. caller: i don't think is -- he has worked for everybody in this country. he forced the civil right. he is also standing up against very powerful repub who know that donald trump is a loser. anybody in this country who havey more or less and vote for somebody that we our children look up t really going crazy. i'm 81 years old. i'm the same age as biden. i have a very activee. just because you are and can't walk around the way everybody to does not mean that there is something you.

he's probably in better shape than donald trump. donald trump isbody says anything. donald trump78 and from what i listen to when he talks, he sounds like he's senile. pat is in brick, new jersey, on our pat. caller: yes, hello. i just wanted to say joe biden should step aside because he claims to be a good catholic as he makes the sign of a cross in an abortion clinic. he stated he -- roe v. wade which he agrees to a months to kill a baby in the image of god. abortion is this murder and an abomination. 8:44. you are the father the devil. he was a murder and a liar -- host: ok we're going to keep it on the topic this morning. so john is up next in fallton second-degree, on our no line. goodng john. morning.

no way should joe be taken off the top of thet. that would legitimize everything night. it would all of a sudden be well, it must be true. joe's packing it up and taking off. if joe biden were doing a poor job, i might listen for a minute to this, but this is just dumb. and democrats want to hand it to the maga people, just go ahead and knock joe off thecket. we might as well fold up and go home at that poi have. host: ken this florida on our no line. good morning. caller: i don't think joe biden should step aside because at time -- i mean, because it goes by name recognition. yes, theref people that has good name recognition but for president, i don't that's because the people wouldn't even know and how would aside, who will they put th you let me -- is that during the debate, donald trump said that the

illegal immigrants were taking black could you have them explain what is black people are so prejudice they don't even know if the say they are taking black jobs. every time i did a job applicatn, say oh, this is a black job job. d an to me what is make america gre again and when was america ever great for everyone? hey, we live in some rough times now. and i just believehat between donald trump and as a black person joe biden, hey, we got to pick the worst of two evils. much, and please explain what is black jobs. thank is in alabama on our line for yes. good morning john. caller: good morning. well yes, i think gavin newsom should be placede ticket. he trump. donald trump is guess you could say he's a

he's against the policies of this country, he has destroyed the constitution. and gavin newsom is a younger person he'sden is just won't accept the fact that he is really old. he could hardly walk or do and he's a real nice guy now, you has a lot of other issues that probably webut i think gavin newsom would make a bette happen. that's just my opinion. host: thanks for you call, john. john mentioned gavin newsom, the as has an article with 10 options if democrats actually tryden saying making a change would be far from easy of president biden's debate performance but here's who has surfaced before and could again. excuse me. let me go back and find that list includes people like vice president harris. it ise how harris wouldn't be the alternative

unless voluntarily steps aside. is a name that you will likely see ahead.saying a plausible alternative with looking almost ideal on pete -- and then have more. now let's glow to leo on folks who are not sure. caller: i'm not sure for simple reason. i just don't know if he's capable of making theon and i hope to agree with the fact that i would love to see a coggive test.

i just don't think if he could make the tough decisions. host: ok. thanks for your call. devin is on not sure. good morning, devin. caller: i'm n sure. and i think as we continue to move forward in this election confidence, right? americans are in shaken and all sorts of thought abc the economy- and all thoughts -- with thisc debate might not be too important if this results happened a week befo can really shake some confidence and sway votes. you know? when you're a candidate -- your providing confidence to the nation. so i'm not sure what could happen if this was close. i would be much more afraid. more serious thoughts but i think to keep sticking it out for now. we need a confident leader going forward. you.

host: vice president harris was at a rally yesterday with an endorsement and support of president biden saying that he is still capable. let's hear some of that. vp hri30 days. i'm counting. [laughter] until election day. 130 days. and this race will not be decided by one night in june. this race will beou you. by us, who house next year will be determin by what we together do in these next 130 days. and ultimately in this we each face a question do we want to live in? aedom or a country of fear and hate. we each have the power each of us power to answer this

with our vote and with our i ask nevada, are you ready to make your voices heard? [cheers and applause] host: next, we have roxanne from maine on our line for good morning, roxanne. caller: good morning. yes, a definite to see joe biden and i understand the reason why he to step down. and the man -- and what he has done and the traveling and everything that he has put forth, i would bexhausted. and so i commend his efforts. him for his efforts. and it should listen because the reason that he won't step down is because we don't need donald trump in

office. if anybody listened the debate when donald trump lost the election in 2020, he said he n and right after that. all --o have these conversations with putin. it's scary. trump is scary. i knew this a long time ago. c too being a factor o biden a criminal. joe biden is not a criminal. it takes big man to their fall and donald trump -- fault and donald trump never recognize that and even though he knows he's at fault. thank you so much for listening and have a wonderful day. host: you as well, roxanne. next up, we have christina i south dennis, massachusetts on our line for yes. good morningelm cr?oeat

ll

ardif trump can act like a prodigal

monkey and everything he does on the podium, line 100% and no republican is saying bring trump down for anything that he does. but the least little thing joe biden did, the are all over him. they want -- do w president or do you want trump to be president? if you about

republican talki there, trying to vote for trump, you better go back to reconstruction because trump is about to create the second reconstruction. if you call yourself christian, make sure not operating that the christian kkk. better check yourself. i am 100%ind joe biden. host: jason is in oh good morning. caller: good morning prayed 'm in full support of joe biden. i don't think he should step aside. i believe the other no callers are spot on. i believe he was over prepped and was not ableo i don't agree with anything they say. go, joe. >> next up is rudy california. caller: good morning. like i said, i'm saying no stay

where he's at. and for all the democrats uld take the words that john fetterman said. host: clean. caller: i wasn'tat. he was very colorful. thank you, kimberly. host: clayton is in marion, indiana on our yes line. callerrning. first off, november 3, 2020 is when gass started going up. host: do you think biden should e race? caller: he should be in prison right now. yes, he should step you guys need to release footage of joe as the viceand then give him prison time. host: let's hear from jesse in and can you turn down the volume on your tv? caller: one second.

t9by the way no. should not step down, no kind of way. and the people scared, don't worry.host: our no line. good morning, bernie. caller: no, he should not step down. age becomes wisdom. ifou said only i can fix things. joe has advisors that he is willing to listen to. team instead of a demagogue. and for all the christians out there, i wonder how they cannot see an antichrist in the form of donald trump. danger. he is divisive. he has the character that no one would want their child to grow up like. and t there are so many issues that we can't even enumerate all of them.

i think the democrats need to standf yo callers said, regarding republicans withell. and stick with him. and so, there's no question in my mind that this isy i wish there were two different candidates myself but we have what wewe have to stick with it. host: ow are you? host: i'm good. why do you think president biden should step aside a democratic nominee? caller: lthink he's a good guy. but after seeing that debate, problems. he couldn't complete a sentence. and even though i liked him him stepping aside and passing the baton. i think gavin would be a good possible replacement. yeahoe has problems. and like i say, this is

important. our country and democracy is more important than joe biden. i like him but he needs to stepaside and pass the baton to someone else. host: our no line. caller: think e back -- better backup. i this time. trump can't tell the truth and he's with putin, he' spoke to any of the questions he was asked. biden had a cold. let's face it. when you have a cold, you talk a little bit like that. or us. trump is against a lif you want a nation to be nice again, everybodyter stand with trump and we all have to go with trump. e all go for trump, he will be our president. theres to replace him with an its too late to do that.

ought to be replaced. i don't think we need to replace anybody. it takes toolaanybody and start from scratch. you should know what trump has done to this country. he's lied. i don't know how people think about going to vote for trump at all. need to back up biden and stick with him. if we all stick with hyden -- biden, we will have thank you, robert. harmon iin washington, also on our no line. good morning. caller: how are you? host: i'm good, thank you. caller: i think joe biden should stay right where he is and go on and winhis. that guy he's running against they didn't fact-check him. just let him lie, lie lie. person. if anyone wants to vote for

donald trump, they have a problem. nobody could lie like that. you would like year children like that. and that's all he does. and he was in fact checked at all and nobody has sd anything d of people do we have running th host: we've run out of thank you, harmon. next up, we will hear more abou thursday fromwe will examine what the candidates said with matt peterson. on monday, the supreme court will hand down its final opinions for this session, including president trump's immunity case. chris geithnerdner will join us later on to discuss news from the court. we will be right back.

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c-span, 45 years and counting. powered by cable. n journal continues. host: welcome back. covered on thursdays president of the the presidenti guest: thank you. host: can you explain what barron's is and what you cover? guest: it is a business mathe wall street journal that focuses more on the stock market. host: specifically? guest: i cover just abouteverything as the ideas editor. i try to and a wreck -- i write a column about politics. host: ear week, before the debate, you wrote an article about five questions that you

hoped would be asked about the economy during the what were those questions that you wanted to hear? guest: about big things that they disagreeebt, tariffs, immigration and a couple of other big picture ideas. we d hear a ton of policy. host: talk about what you did here in terms of economic policy and debate. guest: sure, the biggest disagreement that the two of them is about taxes. we did get a little of back-and-forth about taxes. the back story here is big tax break iness. because trump signed a tax law that cuts most people's taxes and those taxes will go up year if congress does nothing. congress doesn' blamed for raising taxes. the two men have a big disagreement how we should deal with those tax cuts. just wants to keep your taxes where they are low, given where we have been ithe several

decades. and he wants to cut corporate taxes a little bit further. running on a novel idea of raising taxes. raising taxes is a popular idea. he only wants to . he thinks taxes should stay the sanyak under $400,000. he talked a little bit about how he wants to make billionaires pay more and wants corporate taxes to go up. the two of them have a pretty serious disagreement there. host: a lot of this disagreement around taxes is centered on well. president biden discussednational debt, medicare and social security in thursday's debate and we g=that and the response from president trump. >> president biden, i want to give you an opportunity to respond to this question about the national deb >> he had the largest national debt of any a four year period, number one. he's hadenefited the wealthy. we have 1000 trillion errors in america. not even. they in taxes.

if they paid to 4% or 25%, they would -- it would $500 billion in a 10 year period. we would wipe away theld make sure all of the things we need tocaeldercare, making sure we continue to help our health care systemhat we were able to make every single solitary person been able to do with excuse me, dealing with everything we have had to do -- look. if we finally beat medicare. >>resident trump. -- president he beat medicare to death. all of tple are coming in and they are putting them on medicare and social going to destroy social security. this man is going to single-handedly destroy social security. millions and millions of people coming in,y put them on social security. he will wipe out social security. he was right in the way he finished that sentence. it''s happened to our country

in the last four years is not to be believed. the other recent articles matt has headlined trumps debate dominance puts the spotlight on u.s. debt. what about their comments as well as overall how they addressed the debt in the debate? guest: you c's answer in particular, the outlines of the big problem which is that we have committed to doing a ton of spending. we want to give people social security, medicare and medicaid and lots of other government programs. and cutting thoses is very unpopular. on the other hand, we have not raised enough taxes to get so, you need to solve this problem, somehow. and biden is sort of gesturing atwer to this problem, which is raising some taxes on the rich, which would help us close this gap. the deficit this year is about to hit $2 trillion, about 7% of gdp or everything we make in this country.

level and it is happening. one of the that neither one of them like to talk about time in the country where we have had ever had in our history. the peak of debt was after world war ii in 1946. we% of growth domestic product. it will beat that numberg to that nonpartisan forecaster thatthey are sugump in particular any sort of serious suggestionry to raise more funds for social security. he's suggesting that scutting immigration is gx that problem. it's probably not true. most of the time what happens immigration, including illegal immigration is they pay something in play role -- payroll taxes. they don't get benefits so thecutting immigration is probablyalso it's not

-- on biden's side raising enough the -- raising taxes on not solve the debter answers from them on both. host: who's fault is inflation? trump and biden claim each other. biden was asked about inflation in thatd about the broader economy. it's a bit of long cut of tape but i want to play that too. caller: you have-->> you have to look at what trump left economy in freefall and many people were dying. they said it was not that serious, inject bleach in your arm and you will be all right. unemployment rate rose to 15%. it was terrible. things back together again. that's what we began to do. we created 15,000 new jobs. were in a position where we have 800,000 manufactumore to be done. working class people are still ubpennsylvania and a householdwhere

-- the price of gas, the price of housing. that's whyg so hard to make try deal with those problems. i'm going to make sure we reduce the price of housing. we will makep rent so corporate greed can't take over.in addition to that, we are in a situation where if you had to look trump has done in his ministration, he did not do much at all. we were in chaos. i made surea ere we brought down the price of prescription drugs, which is a major issue for many 6m for an insulin shot as opposed to $400. the situation, we are going to make tha anybody all americans. we are working to bring down the

price aroundt we are going to get done. >> thank you. president trump? >> the greatest economy in the history of our have never done so well. everybody was amazed by it. vid. when we we spent the money necessarily so we would not end up in the great depression likes of which we had of 1929. by the time we finished, we did a great job. we got a lot of credit for the economy and military. no wars and so many things. everything was good. the thing we never got the credit for and we should have us out of that covid mess. he created mandates that were a disaster for our country. other than that, we have given them back a country where the stock markethigher than pre-covid and nobody thought that was even possible. the only jobs he created were for illegal immigrants and bounce back jobsbounce back from the covid. he's not done a good job, he's done a poor jo and inflation is killing our country. it is absolutely killing us. host: get your response to what they said there and also how much of the

president in the role of the presidency -- and the role of the presidency has to do with inflation. guest: the president does not have as much coher candidate is suggesting there. although they do play some role. they are having a caused inflation. there is a little bit of truth to the idea some of the inflation that we are seeing now. tremendous economic calamity and the economy was bouncing back when biden became president and he decid to put a little more money into america's pockets. a lot of eme thought this may have been a little overdone. the biden worry that if we did not spend enough, the recovery wae recovery after the financial crisis w moved very slowly for over a decade and it was hard to get a raise and that. they did not want that to happen so they spent too much money. that contributed to inflation. it's not the only thing that is contributing to inflation. you also have the high cost of housing in this country, which has nothing to do with what presidents do. two of them disagree

about where this was caused. but what i did from was any real analysis of what to dobiden has some specific to try to put through to cut prices on individual things lexus -- inflation is still very high and -- and it is extensivebu to didn't has not given an answer on what to do about that. we can talk more about that if you want. host: let's hear from ourcollars now. republicans who have questions for matt can call in at (202) 748-8001. democrats can call in at (202) 748-8000. independents on (202) 748-8002. once again, if you would like to text us, that number is (202) please b to include your name and where you are writing in from and you can also fi us on social media. let's start with lillianrom lewisburg, pennsylvania, on our line for democrats. what's your question for matt? hi there lillian. can you hear u no, i can't.

host:ian, you can ask your question for matt. we lost lillian. let's try paul in pennsylvania our line for republicans. good morning paul. caller: yes, i would like to know why 99% of this countbrain-dead and things bryden is doing -- biden is doing a good job. youest: matt -- host: matt, would you like to respond to the inflation point? guest: people feel it. the price of gas, gas is $3.50 nationwide, that is higher than what it was during trump. it's been a lot higher historically. this country is now than it has ever done, than any countryrld. which is a pretty amazing feat. believe trump, he says he's going to accelerate that even furth let oil and gas companies merge. that make up thece of gas even further. if that is frustrating you, take a listen to what he's saying. next

up is scott in new york on our lineindependents. good morning, scott. caller: good morning. debate actually got me fired back up again. when you go to theouand-new money, steven mnuchin's name is still on it. four years after trump got here's what i see out of the debate. an old man is to go against our nation versus a man who hates us. i have news for him. i serd in the cold war. i've done all kinds of things. this the fourth of july used to be so great for this country. host: did you have a question for matt about the economybate? caller: the economy is so you people shut him up because it's not true. we haven't planted out any money since he was in office. if you peoplenue, he doesn't have a clue on what he's going to do except for drill

baby, drill. how is that going to help our economy? host: i will stop you there and let matt respond to whatever point you want to. this country is going boom. roducing a lot of fossil fuels as we are -- at the same time we are producing solar energy. the way energy enters the economy is interestiheerent views of it. biden has to be- has the climate package calledction act. it's a climate bill. that will putpeople like this legislation for what it's worth. one of the things trump has said wane tn'itch us back to an energy that is a lot heavier on oil and gas. that industry likes him a lot. soant point of contrast between the two candidates. you a fossil fuel future for the economy and one who is putting more money toward the ohost: eddie is in new

jersey on our line for republicans. go ahead, eddie. caller: yes. the way i see thisngpeople think in very small packages instead of what is actually happening. a republican for more than 20 years. i'm saying voting for addict or n rep since the people of the country, -- represents the people of the country. i'e1 i would never vote for donald trump. i understand what he is. he's a dictator. host: have a question about the economy or what the candidates have set about the economy so far for matt? caller: yes, but that is minutia. the minutia is theyou can get caught or you can talk about the or it's a president. host: matt, eddie makes an interesting point. the economy is polled as one of

the top issues. how do you think the economy is going to matter when it comes down how to vote in november? caller: 64,000 dollar question. i think you saw this at the debate very clearly. candidates were not trying to make solid points. they were fighting about oth thing that is drawing people' politics in a lot of ways is the economy. it's the inflatios, the housing all of these things that drive us nuts. and, you know, presidents have over the course of their presidency, they can put in place i think this election has frustrations that the candidates are aware of. host: allen sterling, colorado on our republican line. good morning. caller:or what's your question?

caller: i 't it be proposed for flat taxes, may be two different tiers for corporate and may be two different tiers for private for people that -- have jobs or businesses. they don't have to be the same flat tax for each individualfor lower different tiers for lower income people. how about that? host: really quickly, do you mean more of a consumption taxcome tax? caller: income tax. ad and do it 25% for s that are making over a certain amount of money. just so they are not shutting down the corporate that they don't start leaving the united states and go and crash the border building. they want to bring jobs into theso, you can't tax them so that they are g united states. i know trump had done quite a t keep the

corporations in the, so that they would pay taxes for whatand that was a good point for what trump had been doing. i don't hear anything about doing private tax or straight, flat taxes. host: let's let matt respond to that. what do you think of allen's idea? guest: i haven't heard the candidates talk about flat taxes. it comes then trade next year will be our big europe talking about texas. taxes. one thing that did come up in the debate that hints along these lines is the idea of tariffs. tariffs being being kind of a flat tax on every buddy. everybody. trump wants to set upthing that comes into this country. so, every little thing thatbuy from amazon that has come from china will be subject to a little bit more taxes.

parts of cars and things like that as well. that is a tax that is felt by conser relatively equally. it's one of the taglines that biden has been trying to roll out at the debate. trump is saying that he wants to loweresbut actually, he's imposing import taxes. we will have to see how this shapes out next year. the makeup of congress, whether republicans win the house and te, or if democrats win them, probably matters as much as if trump or biden is elected this year. host: at an article in the associated press, some tariffs have continued under the biden administratioit says the u.s. plans major new tariffs on ev's, other chinese green energy imports according to ap sources. this was back from that the biden administration is tariffs on solar equipmentw havezn the two

administrations handled tariffs differently? guest: they have som interesting different ways in how they have handled this. one of the changes on the at trump made in 2017 was he startedot of different stuff after years of which tariffs have been falling in this country. tariffs are import taxes we pay at the border. ship something from china, you pay more to bring it into the country. trump raised those taxes on china. he also raised import tariffs on steel and aluminum, washing machines and a couple of other specwhen biden won in 2020, a lot of people excited him to drop those tariffs and he didn't. he kept them going. he kept the tariff on ch the steel and aluminum tariffs a little bit. then he . this is a big change in the way both democratic and republican president have dealt with tariffs for decades.

the strategy has been to lower them. the difference between the two candidates comes about tariffs and what they are for. trump at the debate, you talked about this explicitly, he thinks tae a way to gain power in the global economy. and he used that phe was president to negotiate a deal with china. it was not a particularly effective deal. it ced and that sort of overtook everything. what he is suggesting is that when he is presidentboard he's going to use them to negothings. we don't really know what he wants to use them to negotiate for but as record. biden on td, as you were saying, raises tariffs on specific tindustries here that he wants to protect like electric vehicles. behind giving cars subsidies so they can -- car companies subsidies

so they can build electric vehicles. he also put tariffs on solar panels and a couhe has this targeted approach. again, this is a diverge andp will import tariffs on a lot of different goods and biden to target specific industries. host:up is laura from baltimore, independents. caller: you for c-span and c-span radio. i want to make a comment about inflation.things like the consumer price index andsing costs. these are all basedg on people buying things, the consumer price index and how much stuff americans are and how expensive housing is for americans. my guess is we have about 20 million people in the country who are not on the books. we don't know who they are.

it's like a shadowand they are all buying stuff. and they are all renting houses. and they are paying -- they are going to pay a lot of stay in the country. that's going to drive up costs. that's making the consumer price inook like wow, people are really buying a lot. it's these folks who we don't even know are here. acknowledging they are here. i just want to hear if you have any thoughts about that. thanks again. go ahead, matt. guest: i don't know how the and things like that from tspect that their purchases are included in the cpi because the government wants to get an objective look ats are rising. it's true, of course, the more ve country working and buying stuff and buying buyines in particular, the higher prices are going to go.

something that the federal reserve, which sets our interest rates, is pretty concerned about. a big concern that we are going to have under a trump administration is whether -- kicking people out of do to prices, to the labor market? nerally speaking, immigrants, including uoc more to overall economic growth than they take away in benefits. the congressional budget office recently said that if you look out 10 years to immigration is going to go, the course of immigration is going to reduce the deficit byndred billion dollars because they are going to work and bustthat effect is actuar than the benefits that they take out of the economy. if the flow of people into this country slows are fewer

people to do jobs. wages indu but that might be something the federal reservey may raise interest rates and make your mortgage costs go up as a result a simple story, unfortunately. host: new york, the line for republicans, what is your question? caller: good morning. it seems to me that peaked at 9% under biden because he energy policies he instituted saying he would get rid of gas, oil, and fossil fuels. that drove up the price of gasoline for dollars to five dollars a gallon which is cast on throughout the economy higher prices because everything is based on energy. then he decided to sell our oil reserves, now. ha was sold off. also he decided -- well -- host: let's let matt respond to

thea you brought up about, how much does the cost of energy factor into overall it does play pretty significant role. energy is c the falling price of energy, it has fallen recen gas prices are going down in this country which is unusual. usually we drive more and that raises the price of gas. rlier he said the price of gas is $3.50, which is down earlier was earlier in the biden presidency for sure. when inflation hit 9%, that is the correct number, 2022 part of that was becausef ukraine which sent a big -- russia's invasion of ukraine which sent a big energy shock around the world and sent oil prices up quite bit. biden did release oil from the to try to address that. he has released a little more, though they have started building it back up. soóin energy policy is a place where these twogree quite a

bit. the president doesn't have that much direct control over what the price of g is in the country beyond releasing energy from the strategic petroleum ther flexibility for them to do that. are how you deal with thisdude you say, -- do heart of our economy and put more fuel behind it, or do you say we want to move off of fossil fuels because we have a climate crisis thatsing the price of home insurance and car insurance and stuff like that? do you address that as a long-term issue and spendorent budget to try to make that happen? that is what biden wants to do. tom has a very different point of view on those questions. host: melvin in fort lauderdale, democrats. what is your question? caller: i want to ask -- well, two questions. you keep talking about what inflation was when biden can't measure inflation when you have the world not doing any

business. out who they are talking to, what es telling what inflation was when he took office, the whole country and the world basically were out of business forto the gentleman before talking reserves were sold off, that of trump because in the pandemic all of companies were closed, especially the small andanything dealing with the oil so they went out of business. the price of gas, they had to go barrelsemic because the prices were going so low. host: i think matt already addressed most wonder if you could talk about the idea of how well we are understanding this when president biden first came to office versus now? guest: that is a great question. inflation has been a lot more slippery and more complicated than everyonehought. it is true that the economy completely stopped fourago, almost

exactly four years ago. we were calamity. what is that economic calamity was followed by an economic miracle where the country bounced back in this incredibly short period. this was i think the shortest recession in american history. it has obviously had a lot of long-term consequences. one of them is inflation. pretty low and it has been pretty high ever since we started recovering fththere among economists about what exactly causes it. larry summers the other day, the former treasury secretary, was thinks, in fact the background rate of is actually much higher than people think. because of climate change, because of changes across the world. world where inflation is going to be much higher for the long run. that means that interest rates are going to be much higher for the fo future.

those are not things that necessaril pandemic. the pandemic turbocharged us spending money to crawl out of it. the truth really know and practice exactly what's causing inflation. nal experiment to figure out what exactly it is and how to bring it down without crashing the economy. is, we haven't had a kind of inflation-driven recession that people were expecting for the past couple of years. if you ask folks a couple of ng me, they would have said if the fed raises interest rates to fight this battle the economy would grind to a halt again. that hasn'there is debate over where that will eventually catch up with us. host: good morning joan. caller: hello. i wanted to address wh about immigration putting more into the economy then they take out. i wish that he would distinguish between legal and illegal immigrants. traditionally we have. today we have people who may have no skills.

it looks like we are spending a lot of money to put them in housing and provide things they need. but that is nomy question. my question is, do you have any information or statistics on the effects of what would be on our tax revef most of these nonprofits? there is a big expansion of nonprofits. lmost ridiculous in what they are set up to do. rescue mules aguest: i don't have any statistics off the top of my head. i was talking to some folks about this the other dayere are a lot of big foundations in thiss of dollars in wealth. this course, universities, which are mostly nonprofits. the universities are nonprofits with the giant nonprofits exist in this country to get a subsidy from the government. they are allowed to not paytaxes, which mean the rest of us pay a little more in taxes to enable these things to exist.

i don't know offhand of any serious proposals' t start taxing nonprofits or what that would do. ig change in that sector of the economy. host: bill in albany, new york on the line for republicans. go ahead. caller: yes, thank you. i would like go cklogic instead of politics. in 2020, when president biden came in, he used to stop -- if you look it up, there is a pause on drilling. there is a pauseng oil in the united states. the reason he did that was to please the env in his party but dsolution. in other words we got it from venezuela, overseas opec, etc. oil. it is dirtier actually, because our refineries are cleaner. why doesn't he take this executive order because ofive order

pause off? we were energy independent paying $2.s in november before biden took office. it slowly went upthat really hurt our economy. pocketbook. my checking account -- i am taking more out of my savings account. i really it. people i talked to really feel it. the reason it is taking more is because the prices are so high, who bring food t by their tripled. instead of $2000 to fill up the tank a truck, it costing $7,000 just to fill that up. host: we are ru time. i want to let matt respond to some of the points you are making. guest:not sure exactly what the drilling pause would be. the biden administration biden administration has taken some executrecently, theyts for the

export of some kinds of natural gas. the future. coming back to whaearlier, the united states is producing more oil and gas now than any country in the history of the the permian basin, texas and new booming. the companies that operate there they are producing oil and gas hand over fist. that is surprising. folks who thought that sort of -- that part industry is slowing down, it acal the biden administration does have a few on what fossil fuels should be in our economy. parts of the economy faster, other parts of the energy industry. solar, winds of renewables.they have put some money behind but they are also spending money to theil s to do things like store carbon dioxide in the ground and things like that. oil and gas compoil and to trump more thanenergy in this country

is booming rightow. we are in a pretty favorable place compared to where we were. thershock after the ukraine war started. prices went up significantly but they also went down pretty so the country has been in a it's time. it is a good moment to sit and think about where we want the future of energy in this country to be. host: norwalk, connecticut, the line for republicans. caller: morning. i would like to comment biden mentioned, president biden mentionedrning taxes and the fairness of taxes. he kee 8.2% of the union to the teachers and firefighters. that is like comparing -- you can't even say it is comparing apples and oranges. it iing apples and a doorknob. w2h study conducted by the white house office of budget and management

ov pwhat they did was they took the actual t paid, selected groups of billionaires paid during that period of time dividing that by their income on their tax returns plus unrealized if they had stocked it went up during the course of the year they added that as if it were if they had buildings -- host: are running a little low on time. you want to finish up and ask for matt? caller: i would like to -- i would like from matt to comment on if i am saying what is true. my understanding is that you are right. that tonomic projections of what the super wealthy, a lot of their wealth is in stocks. this is the argument that the biden team is making. you are super rich in this country most of the way that you gain moneyour tax system treatstreats those gains differently

from normal ii don't know specifically how weell they've done those types of calculations, but thndministrations -- but the biden change, which is to try tohe stock market for the very, very wealthy very differently from how other people who pay regular income taxes due. -- income taxes do.host: matt peterson, the ideas editor at barron, appreciate your time. in half an hour we will have chris geithner are the author of the sub stack newsletter "law dork"o talk about the supreme court decisions and what is coming next week. first, we will go to open forum to hear your thoughts ande news of the week. the line for republicans is, (202) 748-8001democrats, (202) 748-8000. ) 748-8002. we will be right back. ♪

friday nigh c-span's 2024 campaign trail, a weekly round up ofgn coverage providing a one-stop shop to discover what the candidates are saying to voters friday, july 5, a sneak peek at this chicago. we will speak with the dnc executive about the message, a preview of thel convention, and efforts to involve the community. and the cities visitor bureau in its efforts to connectbusinesses to the convention. you can watch republican national convention any on our website. watch 2024 campaign trail friday nights at 7:30 eastern on c-span, online at c-span.org, or download the pod on c-span now, our free mobile app wherever you get your podcasts. c-span, where you get your politics.

♪ >> on january 16 of this year after years, he retired as a judge on the circuit court of appeals for the district of columbia. on the cover of his memoir is a photo of him a h black robe with his dog standing on his left side. e book is entitled vision, of blindness and justice. he says he wrote the book together with hise, "day in and day out weng desk overlooking an oak tree and the hills beyond," she on her left with her laptop with my braille computer. we argued, we laughed, we deleted wo pages. slowly but surely a book emerged." >> david tate oh and his new vision, a memoir of blindness andtice, on this episode of book notes plus. [ga the house will be in order. announcer: celebrates 45 years of governing congress like no other -- covering congress

like no other. we have been your primary for capitol hill providing balance, unfiltered view of the policy is debated and decided with the support of america's cable companies. c-span 45 years and counting powered by cable.announcer: washington journal continues. host: welcome back. we are in open forum ready to hear your ideas about the news of the week. we will start with herbert in romulus, michigan on the line for morning. we can hear you. i would like to talk a little about the last guest when he said that speg ndincait seems like they wantden p the trump administration one year in 2020 spent more money than the biden did but no one is blaming him. the second thing that i would like think tariffs had more to do with inflation than will give you a reason. tariffs were put on steel

they gave american steelmakers an advantage. they didn't use this to ramp up production and so -- sell more steel. all they did wasce on import steel which raises the prices on everything in the country. other will sayn't biden take off tariffs? companies do not lower prices. profits. that is why every company outhere loves donald trump. he gives them a 25% profit off thed they didn't have to do anything. my opinions, tariffs if he gets in office and then the u.s. will be in a depression. host: of tariffs and their overall impact on the economy -- you raise the idea of tariffs and their overall impact t k has a tariff tracker that they upd couple of days. it includes, so the imposed tariffs that equatetax increase, according to the tax foundation of $79 they argue that a decrease in .2%

long-run full-timeobs 142,000 according to their model.that is referencing the nearly $80 billion new taxes on americans by levying tariff administration. that was on thousands of pr380 billion dollars in 2018-20 19 call one of the largest tax increases in decades. pointing out that the biden administration has kept most the trump administration tariffs in place. in may of 20 to four, announced tykes additional $18 billion on chinese goods including semiconductors vehicles, for an additional tax increase ofn dollars. we estimate that the trump-biden tariffs will reduce long run gdp .2%. altogether the trade war policiesdd up to $79 billion in tariffs based on trade lev time of tariff implementation dynamic effects. did you have anything else to add, herbert? caller: is my point

exactly. taking tariffs off will not only take profits. they are not going to lower prices. this is why they are making record p people need to think about this. sp this. host: thank you herbert. william and kingsport, tennessee on the line for democrats. caller: yes, our economy is very good right now. it is not the best in the world right now. it is the best in the world, but it is not the best but it is the best in the world. we are drilling a lot of oil from the united states. other thing i want to know is trump got on the debate stage and was saying hispanics are taking black jobs, i want him to tell us what a black job is. k people work everywhere. we do news like you now.

we do it all. ri want to know what a black job is. perfect, but he is the best out of the two evi have. a lot of people want to fact everything, but they need to fact check everything that both of them do. everything that needs to be done is fact checked and they need to let people know the truth instead of lying to everyone because we know the trump lies. i have voted democrat and republican. it is about who will be the best trump is going to take everything away from the minorities. you have people like tim scott and byron donalds they are not nothing but stephens, if you know what i'm talking about. guys like that don't care nothing about america,u ry much. host: sun city ce the line for republicans. good morning, john. caller: have a few questions. all of the democrats have been talkingwhat gives biden the right

to break the law and all of these undocumented people into this country? theyn a-vetted. can imagine 1000 of those people coming in had they would kill this country. you have all these people you have no place to put them. you have no way of knowing who they are and what they are. now they are killing american children. what biden has done is insane. he's not worth anything, because e. if it is absolutely ridiculous with all the spending they are doing. they don't need to do all these researches on these ridiculous things. as far as the electric cs, they don't work. they freeze we have only one place that will buyit turns around they put all the money into electrichow much does it

car and you have to charge it at home? how much is it going to take? the whole problem is, these people are crazy with this climate change. you can't change the climate unless every country and like i say, biden is way, way out of line. he has no common sense. host: you, john. matt in new york on the l hi, i just trump. it looks like the january 6 thing is pretty obvious. be, that is very dangerous. two, says he is going to be a one-day dictator. that scary. they have to open their eyes. ers questions. if you watch the he never answestion. he just does his own thing. a debate, you're supposed to answer the questions.

four what happened to jeffrey they? thatn boat. i haven'abortion, it is really the female decision. su to a certain point, but it is the female body up to a certainhost: i think that is probably enough, mattlet's move on to grant in dixon, california good morning. i'm calling in on the last segment about replacing joe biden. i think that they should drop him from the ticket. that way america will maybe finally understandwhoever they have come in to replace him will either continue

or change course completely. 's not joe biden himself. it's the democratic party that's pushing this openectric crap -- excuse me, electricthen the public will know. atic party doing this. via joe host: houston, texas on our line f good morning, cheryl. caller: i get so upset from de of texas that call in and starts talking about oil when they have no clue. i'm generation with strong republicans before trump turned the party into his at the end of 2023, the state of texas produced more oilo].n and natural gas than in the history of the country. texas is already the top oil producer and gasoline and dies

refining state. texas made so much big oil that we have a billion dollar surplus in state budget, the highest of all time.ally president biden has done a lot for the oil industry, not that know, he definitely thinks there's climate change. my chemical engineer, there is climate change. with how he wants to now the top oil producing world and we're also the top country in the entire world. when trump was president, he almost cratered the refining industry. going to lose the vote for the corn who produce ethanol and so he tried refinery to add blended gasolinee all the profits had fallen out of l refining industry. and the refinersin dire straits and the summertimes always

more difficult and more expensive to produce. refiners just shut down fororder tried to force them to add ethanol to the gasoline and diesel mix because it's not just software, it was actually involving spending a of money for different equipment at the refineries and a lot of t to be imported and was going on and all the imports everything were totally disrupted. we don't feel we've host: it's a good description of the industry so thank you for sharing that. let's go ahead and move on mike in massachusetts. caller: talking about security clearances i was an air force security police k-9 handler and actuallyery security police officer had to be vetted with security clearance. the problem that i have is that a know and i would

love somebody to fact check this r convicted felons can't join the military so they security clearance. i'm trying to find out how trump can be president when he can't list in the service as a coicted felon. so being vetted even in a federal job requires vetting and if you've been bankrupt and you have bad financial ory, you can't get a clearance. so i'm kind of curiousld all take place with a man that's gothistory. host: i was able to find the story from "washington post" where it looks like they answered this question in a live chat back in may+@ going to try to scroll down and find it loading. but over hereocnn they can looked to this and whether or not felo and can he get his rights back.vice protection. let's see if i can go back and addressed it.

can a convicted felon receive a top secret security clearance? presidents do not have a security clearance the way other government employees do simply by winning office presidents are given access to information and are considered the ultimateovernment was the answer from the "washington post". caller: o hean in the military? host: the military i don't think he would want to. host: it's just contradictory you. host: mary in democrats. caller: good if you can look it up or have a comment it. i remember you had a guest on heritage foundation and they h a project 2025 it's 900 page booke for everybody that's listening to me look it read it. this is what thety is going by.

and most people don'teally know what project 25 is, onald trump was asked about daycare he never answered that question in the debate is because a lot of stuff all that's in that so i would like for the people that'sit up read it, and see what's in here. that's what donald trump is going by. and the republican party, if we don't educate ourselves we're going to be in a lot of trouble if he wins. and the next thing i want toy, the last thing i'm going to say is the is being changed. that means if you're if you're a convicted sex offender afraud, you can run for president. so where is our standard? it's gone. we don't have any standards any more for the white house. host: thank you very much.

we appreciate c-span we actually had the director5 on as a guest. you can find that interview that we did here on "washington journal" on our website if you're interested in learning project 2025. next up billy. good morning. caller: i would just about this debate a little bit everyone could see that our president ain't running the show here. we know obama and the democrats is running the it's pretty obvious had to see what happened . we know that there is no way that we got any respect from any leaders around the world.

and this oil stuff, i don't know what people are talking about that texas and stuff, that's bull-crap. host: drilling. caller: they're not drilling in everything is shut down because biden got in office and shut everything down and opened -- let russia ope up all their oel and we had to shut all off. iran made billions of dollars off of their all our oil in the it in texas and says that she sees doing a lot of oil and gas exploration. in indiana what are you seeing? i can tell you right now our gas fluktctuates 50 cents overnight. oil ain't supposed to fluctuate like that. i've been around here, i'm 74

years old and i'll tell you what. when i started buying gas ients a gallon and you can't tell me that the g can cost that much. ther thatit's, why is it that everything right now you think it don't -- american people ain't stupid. we know how much money it costs topo goods all over. that's why our prihigh. host: o next up is bob in uth carolina for democrats. caller: good morning. i would like three things not necessarily what we had aormer esot refused to go and visit a military cemetery in europe because he didn't want to get his hair we he called those that w suckers and there was

a marine general that was with him that overheard that and he later fired the marine general. and he said lately on a presidential debate this mral was not good, he was very bad or whatever. he talks about nato in which i agree with him, everyone should pay as much as they can in those nato but if anybody knows anything about military, theacavú

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