Deficits As Far As The Eye Can See

The NY Times ponders the national debt, which is poised to surpass 100% of GDP. But even long-time deficit hawks admit that this is the srt of economic emergency that ought to be met with deficit spending (I agree!).

But why do deficits matter? Well, if Biden is elected Republicans will trot out all the familiar arguments, just as Democrats trot them out when Republicans want to cut taxes. The Times reprises the familiar "crowding out" argument (Reagan-ear flashbacks, anyone?) but ignores an interesting implication:

For decades, analysts argued that an explosion of government borrowing risked devouring a large part of the nation’s savings, leaving less cash available for private businesses to use for investment.

Those companies would then be forced to pay higher interest rates to gain access to that smaller pool of funds. And those higher borrowing costs, it was argued, would curtail investment and hurt economic growth. The process is known as “crowding out,” and there is no sign that it is happening now. Interest rates remain low and inflation is muted.

Hmm. If the goal is to expand the net saving pool by raising taxes, that can only happen if the money handed over in taxes would have otherwise been consumed, rather than saved. Economists love to contemplate the "marginal propensity to consume". The gist is, a low-earner living paycheck to paycheck spends roughly 100% of new income; a high earner applies their income to a combination of consumption (eg, stylin' vacations and fine dining) and savings. Reducing their savings to increase government "savings" does not reduce any "crowding out" effect.

And at the extreme, if 'crowding out' is the concern, our Super-Billionaires, such as Jeff Bezos, the $200 Billion Man, are Too Big To Tax! Go ahead - hit Bezos with a $100 billion tax bill. Will that make him cut down on private jets, yachts and mansions? Host fewer parties? Unless his dinner party guests routinely find a deed to a LearJet in their party favor bag, I don't think Bezos could be spending anywhere near what he rakes in.

Which means that every tax dollar he pays is a reduction in private saving, fully offsetting the increase in public 'saving'. The 'crowding out' impact is zero. So why bother?!?

That said, there may be other reasons to tax Bezos / Buffet / Gates / Zuckerberg et al. Public support for our tax system is no doubt driven in part by a perception of fairness. And the switch from private to public savings means We The People can decide to invest in bridges and roads, rather than let Bezos invest in rocket ships. How sensible the public decision-making process is relative to private actors is a different question.

BONUS QUERY: If the Democrats are ascendant in 2012, will they really want to put up a tax bill that hits high-earners such as doctors and small business owners? Post-pandemic, that might not be the place to start. And with deficit hawks in retreat, Biden might just decide to skip the scuffle over a tax bill and focus on spending. Maybe! (Now I'm having Clinton '93 flashbacks, with the Bond Vigilantes, Greenspan and Clinton's insistence on tax hikes and limited new spending. I don't see Biden re-walking that road.)

Comments

[John S]

you can't be serious, TM. We should talk about the DEFICIT?

[henry]

Well, it could be worse. Look at Biden’s platform.

[MissMarple2]

🌴HEY CALIFORNIA
CHECK YOUR VOTER STATUS NOWhttps://t.co/H1ROVxivvX

I am now a registered democrat and am permanently a mail in voter, and my wife is no longer registered. WTF? The steal is on🤬🤬
HELP US @realDonaldTrump pic.twitter.com/LoB1UE4fCO

— 🇺🇸🇺🇸 Miguelifornia (@michaelbeatty3) September 3, 2020

Link goes to screencap of the oddball registration.

[henry]

And Biden’s massive crowds in Kenosha showing landslide level support from both WI and IL! (I did not say who gets the landslide).

https://twitter.com/mythinformedmke/status/1301553465882284032?s=21

(Yeah.. repeat from end of last thread)

[Narciso]

Crickets henry.

[JimNorCal]

"The NY Times ponders the national debt, which is poised to surpass 100% of GDP"

I blame Donnie-From-Queens!

But, seriously, I recall an email that used to circulate which said something to the effect that fewer books were published in the entire set of Muslim nations (1 billion persons) than in the nation of Spain (10s of millions) each year.
The point was that if you have both genders involved, it can make a big difference.

Similarly, the US has a world leading economy. Think how it would be if the government didn't siphon off so much of it!

[henry]

It seems Biden is going to meet with St Blake’s (model citizen) father and sister, then with local commies in Kenosha. No public events... just closed photo ops.

[Melinda]

Simulation Warlord🇺🇸 @zerosum24
9m
Well well well. What do we have here #Portland?? Care to comment @tedwheeler ?? pic.twitter.com/jVHafddks7

Simulation Warlord🇺🇸
@zerosum24
Update Part 2: #PortlandRiot|ers housing Encampment discovered. 🤯🤯

https://twitter.com/zerosum24/status/13015587045

"City funded"?

[Buckeye]

Amazing how many black Saints keep popping up these days.

[DrJ]

Looks like there is some profit-taking on Wall Street today.

[matt - deplore me if you must]

This is very poor optics for Biden. Suppose they gave a rally and nobody came? And this has been going on for months now.

And yet if you read Drudge Biden has it in the bag.Every time an Antifa shoots someone it will add 2 points to Trump's percentages.

Nancy Antoinette seems to really have grated on the masses this time as well. Heads on pikes I say!

[Buckeye]

Well Mel,

That tweet didn’t last long:)

[Buckeye]

Looks like there is some profit-taking on Wall Street today.

Yesterday afternoon was the sweet spot.

[henry]

Just got an absentee ballot application in the mail. Not that I asked for one.

[henry]

Biden getting off d plane. (Looks like it sears 8 or so)

https://twitter.com/jthverhovek/status/1301563799087075328?s=21

[henry]

seats. He might have got it from sears.

[henry]

I think Biden can fit all his Kenosha supporters on that plane when he returns to his DE basement. Courthouse area in Kenosha right now.

https://twitter.com/shawnpatrick_22/status/1301566880273043457?s=21

[henry]

Media, no supporters outside Biden community meeting venue.

https://twitter.com/mythinformedmke/status/1301568058910179329?s=21

[Narciso]

Well they are following the 12 or 15 feet apart rule and then some

[henry]

Bus from where, Portland?

@shawnpatrick_22

Getting word that several community leaders are refusing to meet w/ Biden and Jacob Blake, amid the Blake’s Social Media controversy Still no Biden Supporters, anywhere to be seen in #Kenosha Nothing credible, yet hearing Biden campaign might Bus some “Supporters” in for Photo OP

https://twitter.com/shawnpatrick_22/status/1301570084016721921?s=21

[Captain Hate]

Bad day for catcher's mitt

Kayliegh taking names, kicking ass.

Mark Knoller
@markknoller
In response to @NYGovCuomo saying Pres Trump "better have an army" to protect him if he visits NYC, @PressSec cites number of shootings there and calls it a naked admission that Cuomo is a "failure" and "lost control of his state."

The White House
@WhiteHouse

US government account
"It's not often you hear a governor describe in vivid detail how he's lost control of his state." But that's what Governor Cuomo just did.
Posted by: Anonosaurus Wrecks, Tyrannosaur Wrangler at September 03, 2020 01:24 PM (+y/Ru)

[Melinda]

US Attorney SDNY
@SDNYnews
New York hedge fund founder arrested and charged with fraud, extortion, and obstruction of justice in connection with Neiman Marcus bankruptcy go.usa.gov/xGTzB

https://twitter.com/SDNYnews/status/1301572519355351040

[MissMarple2]

Donald J. Trump
@realDonaldTrump
·
11m
Crazy Nancy Pelosi said she was “set up” by the beauty parlor owner when she improperly had the salon opened (and didn’t wear a MASK!). Does anyone want a Speaker of the House who can be so easily SET UP?

[Momto2]

The minute I open a new thread and see "New York Times" (which lately is about 90% of the time...)

The opposite of Twitter where I read the original post and ignore the comments (unless MM tells us to read them.)

[GUS]

What time does BIDEN visit with the police officer that was arresting a wanted child molester???

[hrtshpdbox]

Reagan-ear flashbacks, anyone?

Reagan ears!

[hrtshpdbox]

Mel, I don't know this guy Kamensky; do you happen to know if he's a big deal?

[henry]

Ah, there they are. Why aren’t those Karens social distancing?

https://twitter.com/rns/status/1301573169787015168?s=21

[Old Lurker]

TK et al.

In the old days, being a poll watcher would help confirm the voter was known and had not voted already. That was a great way for a citizen to help protect the system.

That is so yesterday. Now it is a Federal Case likely to be lost to even require a picture ID to vote. Buses of fake voters are known to be driven from polling place to polling place.

All of those are "Day Of" shenanigans.

But this November, all of those issues might be dwarfed by bags and bags of "found ballots" that had been "lost" by Orange Man's Postmaster General but now are found thanks to dedicated union postal workers, several weeks after all those pesky poll watchers had gone home.

How do we prevent those from being counted in numbers sufficient to flip the outcome?

[henry]

Different crowd size for Trump rally today, 6 hours ahead of rally, in the rain.

https://twitter.com/brick_suit/status/1301562034295918594?s=21

[hrtshpdbox]

This year, just like every year, I call the local Republican headquarters, get no answer, and then fill out a form offering to do just about anything and everything. And I'll bet that, just like always, I won't hear anything back.

[Old Lurker]

"The NY Times ponders the national debt, which is poised to surpass 100% of GDP"

Alarming as that headline is, the figure used for "National Debt" is but one component of legal obligations the government has promised to pay from tax revenues in the future.

There is a reason that old fashioned banks used to look first at some simple ratio, say Mortgage Payment as a percent of 1040 Income, and, should the borrower pass that filter the bank would add up all the borrowers other obligations and compare the grand total to said income.

National Debt:GDP is but the simple first screen.

[Ignatz Ratzkiwatzki]

--Well, if Biden is elected--

Shouldn't that be Joey-from-Scranton?

[Captain Hate]

Box,

Fixing Failure Theater is the toughest task.

[Melinda]

Hedge fund to close after ‘grave mistake’ in Neiman Marcus bankruptcy

https://nypost.com/2020/08/21/marble-ridge-to-close-after-grave-mistake-in-neiman-marcus-bankruptcy/

[hrtshpdbox]

CH, how Trump won Pennsylvania remains a mystery to me, here's hoping for the repeat miracle.

[Ignatz Ratzkiwatzki]

--The process is known as “crowding out,” and there is no sign that it is happening now. Interest rates remain low and inflation is muted.--

Oh brother.
Pretty hard to be crowded out when the central bank is intent on using every lever at its disposal to make sure there is a nearly infinite supply of free dollars and never a negative consequence to government fiscal and policy decisions. Suicide is painless, as they say.
The only thing being crowded out are the price mechanism and rational investments.
As to muted inflation, the vision of a skyrocketing stockmarket, real estate values and commodities/precious metals in the face of the biggest worldwide drop in GDP pretty much ever and the utterly unknown way or extent that the world economy might recover should cause anyone with a brain to reconsider the value, usefulness or accuracy of the CPI, PPI or the price deflator.

[henry]

Biden supporter seen in Kenosha. Bigfoot had greater odds of showing up.

https://twitter.com/mythinformedmke/status/1301581705678131200?s=21

[Ignatz Ratzkiwatzki]

Is that an ironic Biden supporter, because the last Uncle Joe was an even bigger commie than this one?

[henry]

Ig, I have no idea. It may be a feature to that guy.

[MissMarple2]

The media is going to have to start interviewing other media. There are approx. 20 locals from Kenosha here. Some have asked us what’s going on. They are hanging out because of media row. 20 minutes till Biden’s appearance. Where is the support for Biden? pic.twitter.com/1plnRbRYlg

— Mythinformed (@MythinformedMKE) September 3, 2020

Video at link.

[Melinda]

Is that the “Hillary in the White House!” Chant Creator/Choreographer?

[henry]

The bus from Chicago arrived in the nick of time.

https://twitter.com/philipindc/status/1301586021583384576?s=21

[Account Deleted]

My willowed question:

Does anyone know what the actual plan is for handling the predicted mail in voting chaos? I see the president tweeting against it, and now AG Barr talked about it on CNN and opposed it. But what are the campaign and Republican party actually going to do? It's my biggest worry about the election...

PS: Thanks for the welcomes. I have been here forever, I just rarely comment!

[Old Lurker]

Listen to Iggy, folks.

"Crowding Out" can only happen when the amount of cash available to lend is limited. If the Fed simply creates dollars out of thin air then uses it to lend directly to borrowers, then there is no limit to the supply, thus no "Crowding Out".

Back in the OLD DAYS - just yesterday it seems, as the borrowers clamored to borrow the dwindling supply of lendable funds, that supply:demand imbalance would force the price (interest rate) of the scarce commodity higher and higher until equilibrium was reached between supply and demand.

But now insert the Fed and other Central Banks again and have them create a completely artificial low price (interest rate) for their also unlimited quantity of lendable funds...and you have ZIRP.

Et voila. BOTH pesky market realities that prevent unlimited stupid decisions are erased.

And right before your eye $5 Trillion in Fed Debt gets double under GWBush to $10 Trillion, then doubled again under Obama to $20 Trillion, and at the current burn rate if Trump gets another 4.5 years, it doubles again to $40 Trillion (but even if he loses, he added in four years the new debt that took Obama eight years to accomplish.

Imagine that.

[Thomas Collins]

Re Biden and taxes: If Dems win POTUSey, keep the House and take back the Senate, tax and spend, diversity mandates for corporate boards, reparations legislation, and the rest of the woke crowd's dreams will likely be enacted. States will be bailed out (not only regular budgetary deficits, but also underwater retirement funds). What is not done by legislation will be done by Biden appointed bureaucrats (HUD will go after suburban zoning with a vengeance). Obama Title IX guidance will be due process friendly in comparison with Biden DOE diktats.

But cheer up, there will be one plus. Oligarch Media will stop hectoring us about Woo Floo. Woo Floo will disappear from headlines to facilitate a "Biden led" economic recovery.

One guarantee: Supposed conservatives and classical liberals who turned against Trump because he was too "Donny From Queens" like will be outraged by Dem actions, but won't regret their facilitating a Dem sweep in 2020.

[Ignatz Ratzkiwatzki]

Spengler;
“America First” Pays Off in the Middle East

[henry]

Biden arrived at the Church to scattered cheers from the press. The press is now milling about in the church parking lot.

[henry]

A vid of Biden arriving in Kenosha.

https://twitter.com/philipindc/status/1301590786329448450?s=21

[MissMarple2]

Alison,

My state doesn't have mail-in voting except for absentee.

Hence, I don't know what's going on because every state is different. I DO know that California people are paying attention and sounding the alarm about irregular registration messages in the mail and on line.

Wish I could be of more help.

[Ignatz Ratzkiwatzki]

Theodore Dalrymple;
The Temptations of Power; on our nascent totalitarians.

[MissMarple2]

Donald J. Trump
@realDonaldTrump
·
19m
Nancy Pelosi says she got “set up” by a Beauty Parlor owner. Maybe the Beauty Parlor owner should be running the House of Representatives instead of Crazy Nancy?

[MissMarple2]

Matthew Kolken
@mkolken
·
8h
The Governor of the State of New York is literally implying that the President should fear for his life if he returns to his former home. This thinly veiled death threat to the President of the United States should scare all of us. It is “end of a nation” type rhetoric.

[henry]

Good news for anyone identifying as a hamster.

https://www.cnbc.com/2020/09/03/johnson-johnson-says-coronavirus-vaccine-prevents-severe-illness-in-hamsters.html

[Threadkiller]

CH, how Trump won Pennsylvania remains a mystery to me, here's hoping for the repeat miracle.

Trump went around the RNC/DNC Consent Decree that handcuffed conservative ballot security for 20+ years. I can go into a shitload of detail later if you wish, Box.

==============

How do we prevent those from being counted in numbers sufficient to flip the outcome?

OL, My intention is to take up root at the registrar’s office, not at some random polling station. I will have an army of out of work conservatives with me.

Back to projects. Later.

[henry]

Sundown in Kenosha live feed:

http://abc3340.com/news/nation-world/in-kenosha-biden-to-test-his-promise-to-unify-the-nation-09-03-2020

[henry]

Now talking a guy that wants us to hire people right out of jail (Trump did that already), claims the (union) schools in Kenosha suck, bitching about evictions (which CDC just banned?). Ah, stop putting people in jail.

What a dumb ass.

[henry]

Biden is sitting down looking lost while staff runs things. Hasn’t responded to anything. Complete opposite of Trump.

[Melinda]

Idiots being idiots:

Hedge Fund Manager Arrested For Fraud & Extortion After Admitting To Witness "Maybe I Should Go To Jail"

https://www.zerohedge.com/markets/hedge-fund-manager-arrested-fraud-extortion-after-admitting-witness-maybe-i-should-go-jail

[henry]

Biden is playing with his cheat sheets. He has no idea what is going on.

[henry]

This is amazing! Biden is barely conscious. The staff is running it all.

[Jane]

"Does anyone want a Speaker of the House who can be so easily SET UP?"

Great!

[henry]

Here it comes... Biden’s prewritten speech. He’s reading from cue cards.

[henry]

Biden doesn’t remember what city in Delaware he lived in.

[henry]

What a pile of rambling crap.

[MissMarple2]

Biden doesn’t remember what city in Delaware he lived in.

henry,

Seriously? I am counting on your reporting because I cannot stand to listen to any of those reporters, thug democrat fake Biden voters, or the press.

[henry]

Ah, the Charlottesville lie. Will he admit the guy behind the “right” there endorsed him? Nope. Scum.

[Melinda]

Thread: Big drop in China press about Guo Wengui and Zhang Yue as part of a bankruptcy suit.

Interesting stuff, only that you have to translate, from bad transcripts, that are from bad pronunciations of common names. Some very interesting parties names appear, like Boies.

劉策劃的助理
@Ffs3Tp4EFop034W
全世界最大的诉棍！
你要看戏，先理一下思路！

1. 9月14日 PAX案 18楼财产保全案！法庭辩论

要求郭文贵归还债务，债务总额本金加利息1.13亿美元！司法费用1500万美元

我附上详细PAX郭文贵案的详细细节！魔鬼在细节里！#王雁平 #伪证

chinanews.co/news/gb/intl/2

TRANSLATED FROM CHINESE BY

The biggest stick in the world! You want to see the play, take care of your thoughts first! 1. 14 September PAX case 18th floor property preservation case! Court debate. Ask Guo Wengui to repay the debt, the total principal of the debt plus interest of $113 million! Judicial costs of $15 million. I attach details of the details of PAX Guo Wengui's case! The devil is in the details! #王雁平 #伪证.

https://twitter.com/Ffs3Tp4EFop034W/status/1301566511018946561

[henry]

Miss M, he keeps saying “my city”, a train station is there. Dover? Wilmington? Never says, except 26 minutes from Philly. (Yeah, Wilmington. Unlike this jackass, I was born there).

Now rambling about Hispanics being “minorities, African Americans you know”

[henry]

Funny. He has pre printed notes of his responses to each speaker. How spontaneous!

[henry]

Now pushing Section 8 housing. (Been around since the 70s)

[Narciso]

Link doesnt work, melinda.

[henry]

Also he did mumble through his brain surgery for no apparent reason.... expect the press to claim “Biden’s dementia “ is now old news. Count on it.

[henry]

He babbles even worse than Trump. (Hint to TM).

Now wants higher pay for public defenders.

[Jane]

"Ah, the Charlottesville lie. Will he admit the guy behind the “right” there endorsed him? Nope. Scum."

They do this over and over and it really pisses me off. I can't believe he is talking thru a mask. Actually that probably covers up for him.

[henry]

Federalize school funding. Put 4 year olds in school.

Jeebus what an imbecile. Now want moar psychologists to change children’s genders.

[narr: for normal children, have two parent families]

[henry]

Yeah, who is talking through the loudspeaker in his teeth?

[Narciso]

Ok now it does.

[henry]

The staff is now back in control, delivering spin.

Moar activists blubbering. I’m out.

[Ignatz Ratzkiwatzki]

--Now pushing Section 8 housing. (Been around since the 70s)--

And universally popular with both its neighbors and landlords.

[MissMarple2]

henry,

Seen on Twitter:

From the CBS White House reporter:

Kathryn Watson
@kathrynw5

· 1m
Biden: I grew up in a neighborhood where you either became a firefighter or a priest and I wasn't qualified to be either, so here I am.

The Daily Caller political reporter comments:

I have to see this neighborhood.

[henry]

Ig, I had a thousand section 8 rental units in Philly in the 80s. It sucks in many ways, and has gotten much worse as Congress “improved” the program.

[JimNorCal]

Actually the lyrics show close attention to the issues. China, Bill Gates, vaccine and Jussie Smollett all covered ...

https://www.youtube.com/watch?v=Xpzl9IQHc9s&feature=youtu.be
Gun Totin' Patriot

[Dave (in MA)]

A JOM post citing the NYT. That's a shock.

[willowed]

https://www.youtube.com/watch?v=x1J5O521utw

"Interview with Shiva Ayyadurai alleging massive voter fraud" The interview's not up yet.

He doesn't even have a gap.

[Jack Lillywhite]

There are more people in the Suburbans and Vans then supporters on the sidewalks. LOL.

If I was Biden, that embarrassment would be enough to retire back to my basement.

[henry]

Vid at link

@steveguest

It appears Joe Biden's campaign is screening the participants at his event in Kenosha and even gave the participants a SCRIPT to read!

"I was told to go off this paper but I can't. You need the truth."

https://twitter.com/steveguest/status/1301607488270336000?s=21

[Rocco]

My kid's fan of Turtle Boy Sports. I think he's pro cop?

https://turtleboysports.com/

[Narciso]

You deserve combat pay henry for trying to cut through those tauntaun guts.

[Narciso]

Yup:

https://mobile.twitter.com/julie_kelly2/status/1301610008258457602

[henry]

Narciso, looking at the replies, lightbulb, peanut butter, what difference at this point does it make?

[Narciso]

Edison was black, thats news to me?

[Marlene]

Good afternoon! Howie Carr just interviewed James O'Keefe. He's been working on voter fraud in New Hampshire. Howie mentioned that Trump lost NH by about 3,000 votes and Ayotte lost the Senate race by less than 1,000. Howie thinks that NH won't have as many problems with the college towns this election. Durham, Hanover, Plymouth and Keene made an impact in 2016.
We have a neighbor down the road who seldom comes up in the summer. He comes up for bird hunting in the fall and to snowmobile in the winter. Hubby got an early morning text from him saying his dog had taken off into the woods. Jack,one guess the breed of dog? :)
Sadie chased a rabbit and finally showed up later this morning.

[Stephanie Nene Not Your Normal Granma]

True or False:

According to CA law, AB5, she needs to hire all the people providing hair services in her salon as employees, not "rent chairs". So Pelosi was getting an illegal haircut in an illegal salon. Perfect.

[James D.]

Nancy Antoinette seems to really have grated on the masses this time as well. Heads on pikes I say!

The GOP needs to be hammering this every single day from now until November 3rd.

[Rocco]

I think I'm liking this nut Shiva more and more. From Turtleboy.

I KNEW that if Shiva lost there was a 0.00000% chance he’d concede, because Shiva’s crazy, which I find entertaining. And last night he gave one of the most hilarious “concession” speeches of all time, in which he alleged widespread election fraud in “third world Massachusetts,” blamed the corrupt republican and democratic establishments, said that O’Connor couldn’t have won because you don’t see many O’Connor yard signs, brought up anecdotes about people who told him he would win in a landslide, claimed that 200,000 votes for him were shred, and suggested that his supporters grab their guns and keep on fighting (whatever that means).

[James D.]

And at the extreme, if 'crowding out' is the concern, our Super-Billionaires, such as Jeff Bezos, the $200 Billion Man, are Too Big To Tax! Go ahead - hit Bezos with a $100 billion tax bill. Will that make him cut down on private jets, yachts and mansions? Host fewer parties? Unless his dinner party guests routinely find a deed to a LearJet in their party favor bag, I don't think Bezos could be spending anywhere near what he rakes in.

I know TM knows this, and everyone here knows this, but the majority of Dem voters either don't, or don't care:

Most of that "$100 billion" wealth of Bezos and the other ultrarich is not stored in a real-life version of Scrooge McDuck's money vault. It's the value of their assets, the largest share of which is stock in the companies they own.

Should Amazon for some reason take a massive stock hit, Bezos' wealth would drop by a proportionate amount. And if the government were to decide to tax 50% of his wealth, (1) it would have the same impact, and (2) even if not, who in the private sector would be able to pony up $50 billion to buy the Amazon stock he'd have to liquidate to pay the government?

[Momto2]

So Biden's campaign is giving out "papers" that the audience is required to go by when asking questions. Are they planning on giving the same paper to Wallace for the "debate?"

What a hoax!

[Stephanie Nene Not Your Normal Granma]

Joe Biden Tells Voters In #Kenosha If He Explains Policy At Length ‘They’ll Shoot Me’
Woah what... Did you hear this #BidenGaffe?
- Sara Carter

[Marlene]

Yikes! Howie Carr has been playing the audio of Biden's remarks. Are there enough drugs to keep Joe sentient until the election?

[Marlene]

Donald Trump Jr. coming up on Howie's show.