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For nearly 80 years, the American Japanese people have enjoyed a friendship like few others. We've had a great friendship across the vast ocean, and we found ourselves united by bonds of history, commerce, culture, mutual admiration, and great respect. After our meeting today, I'm confident that the cherished alliances between our two countries and others also will continue to flourish long and into the future. The military cooperation between the United States and Japan is one of our closest security partnerships and it's one of the closest we have anywhere in the world. Our service members work together every day to defend our common interests. Japan is committed to double its defense spending by 2027 compared to my first term. We've invested a lot of money because of my first term. We worked on that very hard with Shinzo, you know, the great Shinzo Abe. And we look forward to seeing even more so. Shinzo and I worked very, very long and hard and those numbers are very reflective after my first term. And now they're going up very substantially based on our conversations today.

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Welcome back, America. We're here with our buddy, Steve Moore, economist extraordinaire, the Heritage Foundation, founder of the Committee to Unleash Prosperity, Fox News contributor. Steve, I want to read something to you, and then I want you to comment on it as long as you need to. The Biden administration actually proposed a budget, and that tells us what's in his mind and heart and soul about where he wants to take this country. And the Tax Foundation looked at it, and they said his proposed budget would slash gross domestic product in the long run by 2.2 percent, slash capital stock by 3.8 percent, slash wages by 1.6 percent, result in increased unemployment of almost 800,000. It would decrease American incomes by 1.9 percent in the long run, raising the corporate income tax to 28 percent, the largest driver of negative effects. It would drive down GDP by 0.9 percent, capital stock by 1.7 percent, wages by almost 1 percent, resulting in unemployment of almost 200,000. And it goes on and on and on. And this guy's getting away with saying that he's cut the debt, that he has a responsible proposal. It's like $8 trillion. It's like $7.8 trillion. And everybody is saying, except the hard left, this guy's crazy what he's proposing here. What's your take? Well, great to be with you, Mark. And I loved your opening monologue. And I do feel sometimes, by the way, like we're living in George Orwell's 1984, when you look at what's happened to our country. I mean, you are 100 percent correct. Now, let's talk about that Biden budget. You know, I've lived through I've been doing this for 40 years. So I've examined 40 years of budgets. And normally what happens is Democrats, when they get to the election year, they move to the middle and they pretend like the conservatives. And I've got to give Joe Biden credit. He's not moving to the middle. I mean, this isn't the era of big government is over. This is like the era of big government is here to stay like we've never seen before. You mentioned the fact that he's lying about these deficit reduction numbers. I mean, this is a joke. This is a president in just three years in office has increased the 10-year forecast for the debt by $10 trillion, Mark, $10 trillion. How is that reducing the deficit ? Second of all, let's talk about taxes for a minute. You know, I'm an old fashioned Reagan supply center. You want to get tax rates low to bring jobs and businesses back. Reagan did it at work, Mark. Donald Trump did it. It worked to create a great economy. You're not going to believe this, Mark, but under the Biden tax plan, the United States of America, the land of the free, would have a higher tax rate than Russia and China, our businesses. Now, my old boss, Dick Armey, who I loved and adored, he was the former majority leader. He used to say that liberals love jobs, but they hate employers. This is an assault against American businesses, small businesses, American corporations is playing right into the hands of our enemies like China and Russia and the European countries that are competitors. Trump used to say that these other countries are laughing behind our back. That's exactly what's happening here. This is a put America last budget. And then he frames it, you know, Meece said, we all sound like Marxist now, and he frames it in the Marxist language, a class warfare, get the rich, go after the corporations. And this is the Democrat Party theme song now, which is we're cutting spending while massively increasing it. We're cutting the debt while massively increasing it. You want to destroy social security when in fact they refused to reform it. So they're destroying social security and Medicare. And then they go on these rants about how they stand for the little guy. And so maybe you can tell me what exactly has Joe Biden done for the middle class in this country? Well, the middle class is poor since Joe Biden came in when you take account of inflation. We haven't seen this kind of inflation in this country since the late 1970s when Jimmy Carter was in office. And you remember what happened with him. Ronald Reagan beat an incumbent president by 10 percentage points. And I think you're looking at the kind of same frustration. The middle class is financially stressed out right now. They're having a hard time paying mortgages. They're having a hard time paying their grocery bills. I mean, when I go to the grocery store with my wife, sometimes people come up to me and they get angry at me because they, you know, they think the inflation is and they're feeling an inflation rate that's much higher than the rate that's being recorded by the by the federal government. I mean, if you look at the fight, what's happening to the price of food, if you look what's happening to the price of energy, if you look what's happening at the gas pump, if you look at mortgage payments, those are not up by 20 percent since Biden came into office. They're up by 30 percent. No. How many people's incomes, Mark, do you think have got up by 30 percent in the last three years? Not many, except the very rich. My dad used to say, if you kill a golden goose, you don't get golden eggs. It's really quite that simple. Let me ask you this question. In addition to the taxes, the regulations, they literally want to ban the combustion engine of the gasoline automobile. What will that do to the average person, both in terms of their lifestyle and their costs? And the EPA is doing this. There's not a statute that supports this. I think this is probably the dumbest thing that Joe Biden has come up with. And he's come up with a lot of crazy ideas. But I want to make sure your viewers understand this. Joe Biden is talking about taking away your car. This is a war against the gas powered car. And what he wants to do is force consumers and car buyers to buy electric vehicles, whether they want to or not. Now, I'm not against electric vehicles. I'm not against Teslas. I'm messing. My best friends have Teslas. But in this country, we believe that people have a right to choose, don't we? I mean, why should the government tell you what kind of car you can buy? Only 1% of the cars today on the road. Did you know that, Mark? Only 1% of the cars are electric vehicles. Only about 6% or 7% of the sales are electric vehicles, even though they're pouring massive subsidies into it. So I think people are going to be angry about this. The price of cars is going to go up because they're not allowing the companies to produce them, like Ford and GM. I mean, it is an outrage. And I think people are extraordinarily frustrated by this. And I think there's going to be a real pushback against. They're not taking my car away from me. That's what people tell me. They're not going to take my car away from me. The electrical grid is not set up for this. No, no way. You're going to have brownouts and blackouts. You're going to have rationing of energy. Yes. These vehicles and the charging stations, they're not ready for this. They're not ready for the cold weather or freezing weather. How many fire departments have told us these are very, very dangerous vehicles when they blow up all kinds of toxins. They can't get people out of these cars and they don't care because they are driven by ideology, not by economics. And they're imposing their will on the American people. No, Mark, if you want to destroy a country's economy, destroy its energy supply, I want to meet people should know this. They're going after our fossil fuel industry, which provides 80% of our energy. And we're going to, we're not going to have any industry left in this country if they pursue this green energy strategy. We'll be right back.

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