. >> commissioner sommer. >> here. >> the we have i quorum item b the oath will all parties giving testimony stand and raise your right hand. >> do you swear the testimony you are about to give is the trouth to the best of your knowledge. >> thank you. you may be seated. >> and the next our land acknowledgment. ramaytush ohlone land acknowledgement the abatement appeals board acknowledges that we are on the unceded ancestral homeland of the ramaytush ohlone, who are the original inhabitants of the san francisco peninsula. as the indigenous stewards of this land and in accordance with their traditions, the ramaytush ohlone have never ceded, lost, nor forgotten their responsibilities as the caretakers of this place, as well as for all peoples who reside in their traditional territory. as guests, we recognize that we benefit from living and working on their traditional homeland. we wish to pay our respects by acknowledging the ancestors, elders, and relatives of the ramaytush ohlone community and by affirming their sovereign rights as first peoples. >> this evening for members of the public who

como lo adelantamos aquÍ en la "ediciÓn digital", lÍder de la mayorÍa del senado, schöpf sommer, y elcir el dÉficit y la inflaciÓn. que de convertirse en ley nos beneficiarÍa a todos en el medio ambiente y la salud, es un plan en el que se gastarÍan 669.000 millones la pregunta es quÉ contiene dicho acuerdo. carolina: en el proyecto que yo te explico. ♪ [mÚsica] ♪ ♪ [mÚsica] ♪ carolina: les cuento que he medicare negociarÍa los precios de los medicamentos mÁs costosos y limitarÍa dichos precios hasta en 2000 $ para quienes sean parte de este plan de gobierno. ademÁs, mejora y extiende los subsidios de la cobertura de salud que estÁn venciendo o a punto de hacerlo, al menos 3 aÑos mÁs. tambiÉn invierte cerca de 400.000 millones en programas de energÍa y cambio climÁtico, con la meta de reducir las emisiones de carbono en un 40% para el aÑo 2030. y mantiene los crÉditos fiscales para la compra de vehÍculos elÉctricos. y mÁs impuestos para la gente que gana mÁs. borja: en otras noticias, la alcaldesa de washington d.c. estÁ pidiendo ayuda la guardia nacional, y espera que le envÍen 150 h

but you know what, why don't you listen to larry sommers. he worked in the obama-biden administration as the national economic counsel. he was the director of it. he was the secretary of treasury in bill clinton's administration. before the vote he told everybody, the american rescue plan could set off inflationary pressures of a kind we have not seen in a generation. i guess he was right. jason furman, an economic advisor to the obama-biden administration said the same thing. the american rescue plan was definitely too big for the moment. i don't know any economist that was recommending something the size of what was done. but every democrat was. why don't we go to steve ratner, another obama-biden economist? what did he say? the american rescue plan was democrats' original sin when it comes to inflation. think of that. steve ratner, who worked in the obama-biden administration who tried to help them during an economic crisis, especially when it came to the automobile industry, says this is the original sin, the american rescue plan, that c

again, that was larry sommers, democrat advisor to the president. and you know what, he was right. last month inflation hit 9.1%, that's the highest inflation rate in my lifetime. it's the highest inflation rate since 1981. president biden's inflation crisis has cost the american worker over $3,000 in annual income and skyrocketing -- and the skyrocketing cost of goods and services will cost the average american family over $6,000. that's what's so nefarious about inflation. it hits the working class and those on a fixed income the hardest. yet, the big government democrats with their reckless spending policies have these six bills before us today included in the package. the six bills included in this package received a total of an increase of over 11%. with some accounts like the federal trade commission and office of personnel management receiving double digit or triple digit increases which will fuel additional inflation. the defense appropriations bill had just a 4.4% increase. additionally, instead of addressing record high gas prices, democrats are pushing this partisan gree

larry sommers warned about it at one point, wasn't taken seriously.tantial revenue by cutting corporate tax loopholes. we can generate significant revenues, simply by enforcing the tax law and taking some of the money out of high income tax evaders who then go and spend the money and that will contribute to reduced inflation as well. pete: so charles, raise taxes to address inflation? >> here's the interesting thing. larry is blowing up all the democratic talking points like rich people don't spend money. that was a before. remember, their argument for taxing the wealthy was because they don't spend the money. now he's saying tax them because had they do spend money. i mean, he's really blowing this thing up. he won't be invited to any biden christmas parties i can tell you that right now. he's blowing up the whole thing. heres' the most important thing that everyone watching needs to understand. whether they're talking raising taxes or what the federal reserve is doing, taking money out of the economy, the goal is to make you hurt. everyone watching

biden's former economic advisor, larry sommers, came out and warned against how this will impact inflation how the country is going in the wrong direction, this legislation will make it worse. dagen: anything that elected officials at this point do in terms of regulation, i would hope they might take a breath and think about the broader impact on the economy and on every american in terms of choice, to your point. liz peek, jump in here. >> so i guess my question would be how closely does this follow regulations that europe has passed? is this -- are we sort of doing the same thing that's already been imposed in europe on these companies? >> you know, it's almost ironic that president biden is over in europe right now. we have a lot of quote, unquote, leaders in congress, leaders here and the chief advocates for this legislation trying to make us more like europe and if you look at europe's tech sector, it's incredibly you anemic. what did they produce, spotify maybe, kind of but that's about it. that's the type of innovation, that's the type of choice that these leaders are trying to impo

larry sommers i guess to his mild credit, he's been criticizing the biden administration, saying he needsis subscribing to the outdated notion of the phillips curve of the inflation tradeoff. the biden administration are incapable of owning up when they do wrong. the point here, dagen, is they are quickly running out of no t. no matter where you look, there is a large quantity of leaks coming from the administration, this is an incredibly leaky administration. vice president kamala harris' office has been leaking since the get-go. kamala harris is less popular than joe biden is. what's interesting, going back to ron clarences all of the -- back to ron klain, all of the leaks, none of the leaks can easily be traced to ron klain. i think ron klain is getting some of the leaks out there. maybe he doesn't want his boss to run for re-election in 2024. i think your point is a sound one, that the congress and the president is to their mild defense fairly limited as far as what they can do about inflation, monetary policy obviously a federal reserve function. he should have talked more about the

but you know what, why don't you listen to larry sommers. he worked in the obama-biden administration as the national economic counsel. he was the director of it. he was the secretary of treasury in bill clinton's administration. before the vote he told everybody, the american rescue plan could set off inflationary pressures of a kind we have not seen in a generation. i guess he was right. jason furman, an economic advisor to the obama-biden administration said the same thing. the american rescue plan was definitely too big for the moment. i don't know any economist that was recommending something the size of what was done. but every democrat was. why don't we go to steve ratner, another obama-biden economist? what did he say? the american rescue plan was democrats' original sin when it comes to inflation. think of that. steve ratner, who worked in the obama-biden administration who tried to help them during an economic crisis, especially when it came to the automobile industry, says this is the original sin, the american rescue plan, that c

. >> commissioner sommer. >> here. >> the we have i quorum item b the oath will all parties giving testimonynd raise your right hand. >> do you swear the testimony you are about to