Checkbook Economics, Household Expenses Rise $961 Per Month, $11,532/yr, While Incomes Remain Flat

Checkbook Economics, Household Expenses Rise $961 Per Month, $11,532/yr, While Incomes Remain Flat

With most financial media being intentionally obtuse with the Biden economic impact upon Main Street, it is refreshing to see analysis that cuts to the heart of the matter.  HatTip to ZeroHedge who provides a link to a great article outlining reality for blue and white-collar working families.

The folks at NerdWallet have taken the inflation date from the Bureau of Labor and Statistics (BLS) and applied the math to real life.  The result is a good encapsulation of checkbook economics and how the Biden economy is painful for the working class.

In total, Joe Biden’s energy policy driven inflation has added $961/month to preexisting expenses.  That’s $11,532 a year just to retain the status quo standard of living.

(NerdWallet) – […] In all of 2020, American households spent $61,300, on average. This number includes everything we spend our money on: housing, food, entertainment, clothing, transportation and everything else. In 2022, it stands to reach $72,900, a difference of more than $11,500 if consumers want to maintain the same standard of living. Keep in mind, this is an average, a number that represents an approximation across all Americans, but one that’s exact to a very few. Those who earn (and therefore spend) more will see more dramatic dollar increases. Those who earn less may see less dramatic dollar jumps, but the impact of these rising prices could be more significantly felt. (read more)

If the average household spent $61,300 and inflation is adding $11,500 to the expense, that means we now have to spend 18.7% more just to maintain the current standard of living.  That average is in line with what we are seeing in the real world.

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U.K Energy Reaches Crisis Point, Britain Announces New Oil and Gas Leases and Lifts Moratorium on Fracking

There is a particular historical irony in the timing.  On the same day King Charles III ascends the throne, previously Europe’s most isolated from consequence – yet loudest voice in chasing the catastrophic climate change energy policies, the British government is forced to reverse course on years of energy regulations and restrictions.

Britain’s new Prime Minister Liz Truss announced, “a new round of oil and gas licensing will come next week with more than 100 licenses issued. A moratorium on fracking will be lifted and planning permission can be sought where there is local support,” in an urgent emergency effort to lower energy costs for British citizens.

The move comes in combination with a government plan to help citizens and businesses cope with skyrocketing prices for electricity and home heating fuel.  The climate change chickens have come home to roost throughout Europe and the British government is urgently trying to head-off the calamitous consequences.

Inside the media announcements of the Truss plan, the biggest concern expressed is how the financial and multinational banking sector (the ESG investment groups) will respond to the government position. After decades of ideological “green” outlooks flowing into the energy industry, the biggest concern expressed in the financial analysis is how a reversal by such a large economic system will reverberate.

The climate change ideology has a stranglehold on the energy sector of the economy, this move by Great Britain would be the most significant push-back in decades.  The minority green activists are apoplectic that they may lose control over the majority of opinion.  The economics of a reversal in energy policy could reverberate throughout the western alliance, particularly in Europe.  It will be interesting to see whether this shift in U.K. policy has ripple effects in the U.S.

LONDON, Sept 8 (Reuters) – Britain’s move to green-light dozens of new oil and gas fields will leave investors and banks with a tough PR job as Britain struggles to shore up its energy security whilst sticking to its climate commitments.

Starting new oil and gas projects runs counter to the world’s shift away from fossil fuels in the fight against global warming and a commitment at last November’s U.N. climate talks to phase down their use.

Yet runaway inflation amid conflict in Ukraine has forced the hand of new British prime minister Liz Truss as Russian President Putin seeks to use energy as a weapon this winter.

Britain will launch a new round of oil and gas licensing next week with more than 100 licenses issued, part of a wider package of measures to tackle the energy crisis announced by Truss on Thursday.

And Britain’s not alone in reassessing its energy strategy. Germany, for example, has been forced to turn back to even dirtier thermal coal to help fuel its power plants and keep the lights on, hampering short-term efforts to rein in climate-damaging carbon emissions.

But for energy companies and the investors, bankers and insurers that finance them, new investment in fossil fuels also presents a challenge given many have made their own pledges to reach net-zero emissions by mid-century.

“This will absolutely hinder companies’ … ability to hit their climate targets,” said Pietro Bertazzi, global director of policy engagement and external affairs at non-profit environmental disclosure platform CDP. (read more)

This is the first crack in the western alliance and the ‘climate change’ agenda of the World Economic Forum as it relates to energy policy and ultimately control over human life within the alliance.

The war in Ukraine was being used as a justification to explain the consequences of European energy policy, particularly rapidly increasing costs for energy and food, but the war in Ukraine was not the cause.  The true root cause of the exploding inflation and economic mess was the Build Back Better agenda, and the series of policies dictated from within it, that each nation willingly accepted.

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Democrats Are Doubling-Down On ‘Stupid’

Democrats Are Doubling-Down On ‘Stupid’


The Democrats are doubling down on ‘stupid’

By: Patricia McCarthy

Different people rise to the top under socialism than under capitalism. The higher on the socialist hierarchy you look, the more you will find people who are too incompetent to do the job they are supposed to do.” – Hans-Hermann Hoppe

As Joe Biden’s mental incompetency continues to be revealed, and his historic unpopularity continues to rise, the leftists who infest MSNBC, CNN and the networks pretend that about thirty people showing up to see Biden in Wilkes-Barre, Pennsylvania, and ten thousand showing up to see Donald Trump a few days later does not mean Biden isn’t revered and respected.

Of course Biden is not revered or respected — by anyone; he is the worst president in American history and has done terrible damage to the country since he was inaugurated. No one is unaware of these facts. No one. Everyone needs fuel, food and shelter. Biden’s insane energy policies have devastated the nation. The cost of all those things has risen catastrophically. Even the untouched-by-inflation wealthy know this is true. They may not care because their wealth protects them from the worst excesses of Biden’s mismanagement, but they are acutely aware of the economic calamity caused by a cabinet of unqualified and inadequate people, all of whom are unfit to lead a troop of boy scouts.

The Pelosis, the McConnells, the Romneys, Dianne Feinstein, Richard Blumenthal, Mark Warner, et al. Not one of them gives a hoot about how inflation is affecting their constituents, but they cannot deny it is happening and that it is part of the globalist agenda they all support. The middle classes are as much an irritant to the elites as the working class. But they are so arrogant, so secure in their faux superiority, they accept no blame, no responsibility. So stupid are they, they pretend Biden is sentient.

Doubling down on stupid is Biden’s Orwellian-named “Inflation Reduction Act,” billions to be spent on green projects that are mostly scams.

Relying on theft and deceit is an unconscious admission of incompetence.” ― George Hammond

What could make this worse? Putting the corrupt John Podesta in charge of spending it. California absurdly bans the sale of gas-fueled cars by 2035. Other states foolishly follow suit. At the same time, they ask residents to refrain from charging their electric vehicles which they want to make the only purchasing option.

They operate on the ridiculous assumption that wind and solar energy are here, ready to launch planes, trains, and automobiles. They believe that by forcing the public to cooperate, we could all heat and cool our homes with renewable energy sources that simply do not exist in sufficient volumes.

All of Europe is suffering under exorbitant energy prices, the price they are paying for succumbing to the guilt the hoity-toity child scold, Greta Thunberg, heaped upon them.

Trump warned them at the United Nations, and Germany in particular, not to rely on Russia alone for energy. They laughed.

Bet they are not laughing now.

The entirety of the global warming hoax is just that, a hoax, part of the WEF’s plan to control how all the little people live their lives. That’s what the pandemic, lockdowns, mask and vaccine mandates, were all about: Control of the masses. If their tactics killed millions? Collateral damage, the necessary cost of executing their plan; monsters like Yuval Harari have long wanted to depopulate the planet.

The Democrat belief that there is enough green energy to replace fossil fuels is obviously dimwitted and dangerous.

And how about this? The Democrats all know that the left stole the 2020 election. They all know it, without a doubt. They know because they tried to steal the 2016 election but underestimated Trump’s popularity. There has been more than enough proof uncovered in various states to show exactly how they did it. The talking heads on MSNBC and CNN can protest all they want, but they know. Given the number of experts who have weighed in, they all know. They tell themselves it had to be done to prevent Trump from winning.

But he did win. All of which means that the left is responsible for the drastic state of the nation under the hapless Biden. They put him in office by illegitimate means. They doubled down on stupid, and look where it got us!

Then there is the left’s obsession with all things woke, especially transgenderism, as if it affected thirty or forty percent of the population.

In fact, it is about .06%. That is clearly not enough for the left’s ongoing campaign to destroy the nuclear family. This administration is pushing transgenderism as if their lives depended on recruiting as many unsuspecting kids as possible into the trans fold. The more they recruit, the more mutilating surgeries they can underwrite. The Biden administration’s preoccupation with the sexualization of children is obscene.

It is the presidency of grooming and the erasure of women. Allowing biological males to compete against women is rendering women virtually non-existent. This perverted mindset does not bode well for the future of our civilization in peril. This has nothing to do with compassion; it is all about laying waste to the Judeo-Christian values on which this nation was founded. As for the damage done to those suffering from gender dysphoria, a mental illness, the trans activists could not care less. They want to expand their numbers by any means available. This is all not only stupid but evil. (See Matt Walsh’s What is a Woman and Tucker Carlson’s Trangressive on Fox Nation.)

Perhaps the most obvious flashing neon lights of ‘stupid’ is the Democrats’ many, many feeble attempts to ruin Trump by lawfare, beginning with the Russia hoax and their most recent foolhardy panty raid on Mar-a-Lago, a hugely stupid misadventure that revealed those institutions to be something akin to the Keystone Kops.

The Democrats fabricate reasons to indict practically everyone in Trump’s circle and put them in prison if possible. Their desperation would be funny if it were not our reality. Meanwhile, the truly criminal acts of Hillary Clinton, creator of the Russia hoax, and her many partners in crime go unindicted and unpunished. America no longer has an equal system of justice. This president uses the FBI and the DOJ as his personal hit squads, tasked with destroying all opponents.

The Democrats are terrified of Trump and his anti-swamp supporters who will not be mollified by any amount of Bidenesque cajolery.

This is a mendacious administration. It is not representing the people of America but focuses on the wealth-producing perks of public office that enrich themselves and their families. Beyond that, they are all members in good standing of the WEF, that pompous, unscrupulous globalist organization that has long dreamed of implementing their Great Reset, that plan to permanently elevate themselves to a one-world leadership status and render the rest of us serfs. That’s the game they’re playing and they are sticking to it. Wreck the country, preserve their own wealth and power. Unless the masses rise up and stop them, America will be well and truly over.

Is ours a government of the people, by the people, for the people, or a kakistocracy rather, for the benefit of knaves at the cost of fools?” ― Thomas Love Peacock

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This article (The Democrats are doubling down on ‘stupid’) originated on American Thinker and is republished on this TLB site under “Fair Use” (see project disclaimer below) with attribution to the articles author Patricia McCarthy and americanthinker.com.

TLB recommends you visit American Thinker for more great articles and information.

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Joe Biden’s Teetering House of Cards

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Russia Shuts Down Nord Stream 1 Gas Pipeline, Gasprom Sends out Eerie Video ‘Winter is Coming’

Russia Shuts Down Nord Stream 1 Gas Pipeline, Gasprom Sends out Eerie Video ‘Winter is Coming’

Well, it looks like it’s official now. After several days of sporadic reporting on Russia’s decision to shut down the Nord Stream 1 natural gas pipeline into western Europe, it looks like the valves have been shut down until EU sanctions against Russia are removed.

Strategically the Nord Stream 1 pipeline is the major gas supply route into Germany, Europe’s largest economy. As noted by Reuters, “European gas prices, as measured by the benchmark Dutch TTF October gas contract, rose by as much as 30% on Sept. 5, amid growing fears of a total shutdown of Russian pipeline imports ahead of the European winter.”

Europe was already going into a deep economic recession due to inflation created by pre-existing green energy policy.  The Nord Stream shutdown will make things exponentially worse as energy prices skyrocket.  The Russian owned energy company Gasprom sent out a video that can be best described as psychological warfareWATCH:

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British News Broadcaster ITV Creates Gameshow for Desperate Viewers to Win Chance to Have Energy Bills Paid

British News Broadcaster ITV Creates Gameshow for Desperate Viewers to Win Chance to Have Energy Bills Paid

Yes, it’s like something out of a dystopian ‘hunger games’ movie, except it is unfortunately real life.  ITV News in Great Britain is running a wheel-of-fortune type marketing campaign where desperate viewers can call in for an opportunity to spin the wheel and win having their energy bills paid.

Comrades, it is not a spoof, this actually took place today and it looks like it will continue due to popular demand.  UK citizens are facing astronomical increases in energy bills as a result of the EU green climate change agenda in combination with Russia halting the export of natural gas.  The price of natural gas increased 30% today alone as Russia cuts off supplies completely.  Europe is on the brink of the worst economic recession in history.

ITV steps in with a promotional effort that shows just how bizarre this Build Back Better future has become.  Perhaps next week viewers might be able to call in for a chance at winning extra food rations, chocolates or even gasoline.  Here’s a video to show what is happening.  WATCH:

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Good luck comrade citizens, you too could be a winner on the wheel of survival.  It’s all in good fun comrade. Smiles everyone, smiles.

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Inflation Moderates in July with Drop in Energy Prices, But Look Closely Food Prices are About to Skyrocket

Inflation Moderates in July with Drop in Energy Prices, But Look Closely Food Prices are About to Skyrocket

The Bureau of Labor Statistics (BLS) has released the July inflation figures known as the Consumer Price Index (CPI) [DATA HERE]. I’m not going to spend much time on the review because the big picture results are exactly what we expected, the appearance of a false inflation plateau, drop and/or moderation of inflation.

The July energy prices dropped significantly driven by a reduction in consumer demand for gasoline and fuel oil, which lowered prices.   We can expect a very similar outcome in August (report in Sept).

Most financial and economic media are reporting an “unexpected” drop in inflation, ex:

Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices. On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs. {link}

Most econ people will look at the price drop sectors and accept that consumer spending on durable goods and non-essentials has become a downward price point on key categories like vehicles etc.

This is the ‘stag’ part of the ‘stagflation’ (economy), or the new lingo; the ‘dis’ part of the ‘disinflation’ (consumer spending).

For the middle-class or working class, especially those families with young children, I would shake all those data points away, clear the table and look more closely at [BLS Table-2] to see where our eyeballs should be focused.

Look closely at all food group products that originate as “ROW CROPS” and/or “GRAIN”.   Just by looking at the current rate of price increase, you can easily see that all grain and row crop outcomes are going to explode in price in around 60 to 90 days.

The wholesale food supply chain is starting to price-in the future cost at market for products that have yet to be harvested.  Remember, ‘row-crops’ and ‘grains’ are the most energy intensive farming and carry the highest rate of energy use in the process, including fertilizer and diesel prices.  Row crops also carry the highest labor rate to harvest.

When you look at row crops and grains in the Table-2 breakdown of food prices the input price cost is easy to spot.

Annualizing the price outcomes, we see:

Flour at +60% in June and +38% in July.

Bread overall at +19% in June, and +34% in July.

Crackers at 12% in June, and +40% in July.

All grain-based categories are in this +35% to +50% annualized rate.  This is a good rough estimator for what is going to happen in the third wave of food prices we have been discussing.  These are energy cost increases we have to look forward to within current grain harvests.  Additionally, a global shortage of grain will only make this worse.

Eggs are also in this +50% range, and Coffee around +42%.

The same is true for row crops with potato prices in July up +40% (annualized).

SUMMARY:  Energy prices in July, Aug, Sept, moderate yet stay high – giving the false impression of inflation slowing as the overall economy continues shrinking.  However, by the time we get to Sept, Oct, Nov, all of those high farming costs are going to transfer from the field to our forks.  Food inflation in the last quarter of this year is going to be the urgent family conversation that takes the place of gas prices.

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Global Recession Spreads, European Factory Activity Contracts in July, Japanese Factory Activity Also Drops

Global Recession Spreads, European Factory Activity Contracts in July, Japanese Factory Activity Also Drops

In addition to the contraction in South Korean manufacturing announced last night, European manufacturing and factory activity is also contracting with less output, higher buildup of inventory and fewer orders for finished goods.  The global recession is being measured fast and furious.

Every economic outcome is connected to a purposeful decision by the leaders of western industrialized nations to follow the Build Back Better climate change agenda.  Higher energy costs, an outcome of the collective policy to stop new production of coal, oil and gas, which has transferred into higher food prices, farm prices, gasoline prices, heating and cooling prices as well as electricity rates, is forcing consumers to stop purchasing non-essential products.

The sale of durable goods collapsed in the first half of this year; however, no policymakers or bankers wanted to admit it and they kept saying there was an excess of demand.  Now, with fewer customers for durable goods in the market, global manufacturing and factory outputs are dropping fast.  Eventually the central planners are going to have to admit their pretended demand does not exist.

While there is a natural lag in the activity, the rate of factory contraction will be proportionate to rate of the drop in demand.  Meaning we have only just begun to see the manufacturing decline that lags a few months behind consumer activity.

LONDON, Aug 1 (Reuters) – Manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc could fall into a recession.

S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to 49.8 in July from June’s 52.1, just ahead of a preliminary reading of 49.6 but its first time below the 50 mark separating growth from contraction since June 2020.

An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, sank to a more than two-year low of 46.3. In June it was 49.3.

“Euro zone manufacturing is sinking into an increasingly steep downturn, adding to the region’s recession risks. New orders are already falling at a pace which, excluding pandemic lockdown months, is the sharpest since the debt crisis in 2012, with worse likely to come,” said Chris Williamson, chief business economist at S&P Global. (read more)

The WEF directed politicians are trying to bring energy demand down to match the energy shortage they have created. The various western government leaders, Biden included, want/need a recession to drop energy demand. The central banks and federal reserve are supporting the policymakers by driving up interest rates into the recession.

The combined effort leads to a shrinking of the global economy.

By lowering the economic activity and forcing their western nations into a joint collaborative and intentional recession, the central planners hope to offset the inflation they created by blocking coal, oil and gas production. By intentionally collapsing demand, the prices of excess non-essential goods will drop; however, there will be no one to purchase those goods at any price because global employment in a global recession is tenuous at best. This is the spiral they are trying to manage.

TOKYO (Reuters) – Japan’s manufacturing activity expanded at the weakest rate in 10 months in July, as pressure from rising prices and supply disruptions hurt output and new orders, suggesting a solid post-pandemic economic recovery is still some way off.

The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) dipped to a seasonally adjusted 52.1 in July from the previous month’s 52.7 final.

That marked the slowest pace of growth since September last year, and was slightly lower than a 52.2 flash reading.

[…] Manufacturing activity suffered from contractions in output and overall new orders as well as a slower expansion in the backlog of work, the PMI survey showed.

[…] But a government official also warned downside risks for output remained as parts supply delays lingered. That is one of many reasons why the Bank of Japan remains resolutely committed to its ultra-low policies despite a global trend of rising interest rates to fight rampant inflation. (more)

It’s incredible how they various western leaders and bankers can still say there is too much demand, when every single economic indicator clearly shows that all consumer purchasing of non-essential goods and services has stopped.

We are seriously looking at a future employment scenario that might be as bad as it was during the economic lockdowns in the pandemic.  This time all of the unemployment will have been created by intentional climate change policy.

These ideologues are seriously disconnected from the pain they are inflicting.

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Sunday Talks, Senator Manchin Says His Energy Deal Will Bring Windmills to West Virginia Faster, With Batteries Made in Mexico and Canada

Sunday Talks, Senator Manchin Says His Energy Deal Will Bring Windmills to West Virginia Faster, With Batteries Made in Mexico and Canada

In a remarkable interview attempting to justify his agreement with the senate Build Back Better climate change bill (fraudulently labeled ‘inflation reduction act’), West Virginia Democrat Senator Joe Manchin says the massive energy spending and tax bill will bring green renewable energy much quicker.  In essence, the windmills and solar panels for West Virginia will arrive faster now, and that will improve energy production.  [Transcript Here]

When discussing the new energy origination provisions, Senator Manchin catches himself mid-sentence saying, “the battery better be made in America.”  He quickly corrected himself knowing the claim was false and followed up with, “better be sourced in North America, it better be processed,” because he is well aware the largest employment and investment beneficiaries for his deal will be Mexico and Canada, not American workers.  WATCH:

BRASS TACKS – Canadian Prime Minister Justin Trudeau was gleeful last week promoting Manchin’s new green energy proposal because, with steel and aluminum tariffs removed, Canada will be one the biggest beneficiaries of $370 billion congressional spending package.  Canada has no heavy industry left, they are the assembly economy for foreign manufacturing that uses loopholes, and the senate bill creates a USMCA loophole for this exact purpose.

The West Virginia windmills and solar panels will be shipped as raw materials from China and the EU into Canada.  Canada will assemble the parts and ship the finished goods into the United States for placement by illegal alien workers employed by the contractors.  The batteries to store the solar and windmill power will come from Mexico, after they receive the raw materials from Africa and Asia.

Canadian workers, Mexican workers, Chinese Workers, African workers and ASEAN workers will all benefit from the generous Joe Manchin spending package.

Unemployed West Virginia coal miners will watch Joe Manchin run for office in 2024 on Japanese televisions powered by China, while eating cheese puff flavored cricket snacks sourced from Canada.  Brilliant plan, Joe.

[Transcript] – JOHN DICKERSON: We go now to West Virginia Democrat Joe Manchin. Senator, welcome. I hope you’re feeling better from the COVID. Let me start with a- with a–

SENATOR JOE MANCHIN: –John, thanks for having me. I appreciate it.

JOHN DICKERSON: Let me start with something you said back in 2010 in a debate when you were running for Senate, here’s what you said:

SEN. JOE MANCHIN SOT: “I don’t think during the time of recession, you mess with any of the taxes or increase any taxes.”

JOHN DICKERSON: So that’s become the- your Republican colleagues favorite quote to roll out now that you’ve made this agreement with Chuck Schumer that has a tax piece to it. Why did you change your mind?

SEN. JOE MANCHIN: John, I didn’t change my not- my mind, I’ve never changed at all this is fighting inflation. This is all about the- the absolute horrible position that people are in now because of the inflation costs, whether it be gasoline, whether it be food pricing, whether it be energy pricing, and it’s around energy, mostly that’s driving these high inflation. This is going to do- take care of that, because this is aggressively producing more energy to get more supply to get the prices down. That’s what we’re doing. But we didn’t raise taxes, John, the taxes were- the corporate tax in America in 2017, before the Republican tax cut was 35%. They cut it to 21% 14% reduction. All the people that I know are paying 21% or more. All the even larger corporations, but some of the largest corporations of a billion dollars of value or more don’t even want to pay the minimum of 15%.

JOHN DICKERSON: So, this is an issue of fairness?

SEN. JOE MANCHIN: It’s basically closing– this is a fairness in closing a loophole. So, I’m not raising any taxes. I never thought that people weren’t paying at least 21.

JOHN DICKERSON: Let me ask you about–

SEN. JOE MANCHIN: –And I don’t know why. I mean, we went- go ahead I’m sorry.

JOHN DICKERSON: On the raising- Okay, so I understand what you’re saying about closing loopholes. But the Republican criticism, which attaches to what you said in 2010, is, when you increase taxes, by closing loopholes, you hurt supply, and during inflation, you want a lot of supply. And so even though this might not be a tax increase relative to previous rates, the taxes for certain companies will go up, which will make them produce more so the theory goes, and that will hurt inflation.

SEN. JOE MANCHIN: Let me just say this, John, in the last two years, there have been massive record profits across the board by these largest corporations, massive record profits, and it’s been the lowest capital expenditure in the last few years, so that didn’t drive it. What they’ve all told me was we want security, we want to have some type of pathway forward in permitting and regulations. They’re strangling us. And this is what we’re doing. We’re streamlining the regulations that people have to live within. It- basically accelerating how we get things to market, how quick we can produce things, how quick we can basically produce more energy, and how we can develop more technology. And using that for our benefit. We’re talking about also batteries for electric cars. If you want to get a discount on an electric car by buying an EV, the battery better be made in America, better be sourced in North America, it better be processed.

JOHN DICKERSON: Your Republican colleagues think you and Chuck Schumer did something underhanded by essentially, it looked like there wasn’t going to be anything big passed and then set and then you changed course worked out something with Schumer. Senator Cornyn, the Republican from Texas, said that that unveiling this agreement between you and Senator Schumer was “a declaration of political warfare.”

SEN. JOE MANCHIN: It’s such a shame. John Cornyn is a good friend of mine. He’s such a good man. And for the politics to be so toxic right now. First of all, I never thought this would come to fruition. I never spoke with anybody about any of my colleagues, because they were frustrated that nothing happened for so long. On the other, I never could get the Build Back Better, which is a three and a half trillion-dollar spending bill. This is a $400 billion investment bill. And everything my Republicans talked about reducing the amount of debt that we have- we’re paying down $300 billion- first time in 25 years, they gotta like that. And next of all, they wanted more energy, I want more energy, we’re going to be producing more energy. There’s an agreement that we’re going to be drilling and doing more than we can to bring more energy to the market that reduces prices. They like that. I mean, it’s and there’s going to be a streamlining of permitting John, but they got to like that so well. I’m hoping they just- take cool off. Take a good look at the bill.

JOHN DICKERSON: Their argument is and this matters because you are working with Republicans on other pieces of legislation and Susan Collins, one of those Republicans you’re working with says that this, this break of trust, which is what they’re calling it, you made certain representations they would say to Republicans and broke your trust, she said Susan Collins said it’s a very unfortunate move that delay  –  that that destroys the many bipartisan efforts that are underway. In other words, whether it’s on election reform, or same sex marriage that that the well has been poisoned.

SEN. JOE MANCHIN: Well, here’s the thing, I think Susan Collins is, you know, my very dear friend, we work almost on everything together. But the thing of it, I never told anybody that I wasn’t going to do something. If I had a chance to fix the energy policy of the United States of America, and I didn’t do it, shame on me. If I had the chance to reduce the amount of inflation and people in West Virginia and across the country are enduring right now. Shame on me. And I never thought they would come to an agreement and use a dual path and basically recognizing within this administration, working with President Biden’s administration and working with Chuck Schumer, and all of them who basically were going a different direction, and were very upset with me for so long that they would ever sit down. But I guess, you know, this thing is bigger, become truly horrible for the families all across America. So now to have a piece of legislation, that we have energy, and we have investments for new energy, but basically, that’s a responsibility. You can walk and chew gum, you have a balanced approach. These are solutions Americans want. We were able to provide these solutions. Let’s not make them political, John.

JOHN DICKERSON: You and Senator Schumer have a deal. A lot of Democrats who used to be very angry at you are suddenly now saying nice things about you, Senator Kyrsten Sinema. Have you talked to Senator Sinema whose vote is still unknown on these bills? And where do you think she’ll go? Because if she doesn’t vote for it, it doesn’t happen.

SEN. JOE MANCHIN:  Yeah, Senator Sinema is a dear friend of mine. And we’ve worked very close together on so many pieces of legislation. And she’s- she’s so involved in this legislation. When you think about it, she’s the one that really negotiated and worked very hard on getting Medicare allowing them to negotiate for lower drug prices saving $288 billion. That’s tremendous, which I support her completely on that she’s always been adamant about we’re not going to be raising taxes. And I agree with her wholeheartedly. I made very, very, very carefully evaluations that we wouldn’t raise any taxes. That was the last scrub that was done.

JOHN DICKERSON: Have you tried to lobby her?

SEN. JOE MANCHIN: No, I don’t. We don’t. I’ve never lobbied my- my colleagues on that. I just basically put the facts out try to answer questions. I’m always trying to negotiate with them if- if they want and I tried to and sometimes we don’t get there. They get frustrated. But we’re always looking at the next opportunity to improve the quality of life in America. And that’s what we’re doing.

JOHN DICKERSON: Finally, Senator, there was a vote on a bill this week that would provide health care to millions of veterans exposed to toxic fumes in burn pits during their deployments. Republicans who had previously voted for it, voted against it. Pat Toomey, Republican from Pennsylvania, who will be on who you’ve worked with extensively in your career is worried that it adds to the deficit. That’s something you care about. Does Pat Toomey have a point here?

SEN. JOE MANCHIN: Sure. Well, Pat Toomey is going to get a- he’s gonna get an amendment. He- he’ll have a vote on that. So Pat, come on, let’s go. Let’s put- put it out there, put the facts out there. Pat’s a good man and good friend of mine. I’m sorry, he’s not going to be running again. And he’s leaving the Senate because he’s been a quality valued member of the Senate. And he represented Pennsylvania extremely well. So he’s been a friend. We’re going to work through this. I haven’t seen the amendment. I’m – I’ll be briefed tomorrow morning on it and everything. But Pat is going to get his amendment and let’s see where it goes.

JOHN DICKERSON: Senator Joe Manchin, thanks for being with us. Face the Nation back in one minute. Stay with us. (link)

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