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Eric Hovde: “Wealth inequality skyrocketed again under President Biden.”

Featuring: Eric Hovde, Republican | Former Candidate, U.S. Senate Wisconsin

Eric Hovde, Ben Shapiro interview

Published October 4, 2024 | Video Starts at 02:13

I don't know if everybody knows out there, but wealth inequality grew more under President Obama than at any time. It actually declined under President Trump. Real wages rose by 7.7%. Then Wealth inequality skyrocketed again under President Biden. What is happening? Well, it's called the k economy. Think of the letter k. 50% of Americans have been crushed. Their real wages have gone down. (02:13–02:20)

CLAIM

Asserts that wealth inequality increased significantly under Biden's presidency.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Eric Hovde

“Over 50% of people in America and Wisconsin feel that they've been in a recession the last two years.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 00:49-00:57
“We've never had real wages decline for three years in a row.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 00:58-01:04
“They collapse the purchasing power of everybody's dollars by 22%.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 01:08-01:14
“If you took the way they measured inflation back into the eighties, it's almost a decline by 40%.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 01:16-01:24
“Wealth inequality grew more under President Obama than at any time.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 02:01-02:07
“Real wages rose by 7.7% [under President Trump].”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 02:09-02:13
“GDP is almost all deficit spending.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 03:47-03:51
“The National association of Home Builders estimates now that 25% to 30% of housing cost is tied to taxes, impact fees and regulations.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 05:31-05:45
“Madison makes it almost impossible to build [single-family homes].”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 06:45-06:48
“They're making it so much more difficult to even land, plan and zone for single family homes in a city like Madison.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 07:01-07:11
“Ronald Reagan...defeated the Soviet Union economically and with words.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 07:52-39:33
“We have more Americans not involved, working age Americans not involved in the workforce than ever before.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 09:10-09:19
“Today our welfare system is bigger than it was before Bill Clinton [and] Newt Gingrich did [welfare reform].”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 10:07-10:12
“We felt it when they dropped 1000 illegal immigrants in Whitewater, a town of 13, 14,000, the budget went upside down immediately.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 12:21-12:30
“ICE put out numbers that, what was it? 13,800 former convicted murderers are in our country.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 13:25-13:39
“15,700 people that were convicted of sexual assault have been brought into our country.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 13:38-13:48
“People with a criminal background. It's something to the tune of 350,000.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 13:47-13:54
“Venezuela dumped their jail cells into our country, no different than what Castro did during the Mariel boatlift.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 14:14-14:22
“We're at one of the highest terrorist watch alerts levels by the FBI right now in this country today.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 14:26-14:33
“We lost 108,000 Americans last year to fentanyl, 112,000 the year before.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 14:40-14:48
“They can't account for anywhere between 80 to 100,000 children.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 16:13-16:18
“We have modern day slavery going on in this country today.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 16:38-16:43
“Senator Baldwin is one of the ones pushing this big.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 19:31-19:35
“We get taxed in our local community. We know how to educate our kids in our local community.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 24:20-24:28
“They created this thing called the Department of Education. One of the worst monstrosities that's ever been created.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 24:27-24:34
“They send our money up to Washington, DC, they take off this big chunk of it, they send our money back to our communities.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 24:42-24:57
“Only 27% of our kids in this state can read at grade level.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 25:50-25:57
“Lesser proficient at mathematic at that level.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 25:58-26:03
“If I get to the US Senate, one thing I'm going to say, hey, there's the spot to save a lot of money and do America a lot better. Closing…”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 26:29-26:39
“They sent a group of protesters, largely transgender people, to my house.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 27:42-27:48
“They've manufactured phony lawsuits against my companies just to try to write a hit piece.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 27:53-28:01
“We used to have some of the most complex antitrust laws where, you know, a tv station, you couldn't own two tv stations in a market.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 29:35-29:45
“We got pretty quickly consolidated down to four media complexes.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 29:58-30:04
“Milwaukee's journal Sentinel subscriber base is only 42,000 now. Now that probably was almost a quarter million 30 years ago.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 30:59-31:09
“Gannett stock, you can pull it up. This company will probably be bankrupt in two years.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 31:11-31:17
“My most embarrassing moment as an American, was just the most incompetent withdrawal from Afghanistan.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 34:34-34:42
“You would have thought we would have kept Bagram Air force Base, which was so strategic to that part of the world.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 34:50-34:56
“We lost 13 marines that day.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 35:17-35:21
“We left billions of dollars of the high tech military equipment behind.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 35:20-35:26
“Putin moved on Ukraine, the ayatollah of Iran moved through their proxies, Hamas and Hezbollah on Israel.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 35:31-35:39
“China's gotten more and more aggressive.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 35:38-35:41
“President Obama thought he could cut a deal with Iran.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:00-36:05
“He transferred money to them and loosened up economic sanctions on Iran.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:12-36:19
“ISIS started growing very rapidly.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:24-36:28
“President Trump came in, said this was one of the worst policies. He shut it down, put severe economic sanctions on Iran.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:28-36:37
“Their economy was cratering, there were protests.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:37-36:41
“Joe Biden goes back and doubles down on the policy that failed miserably that President Obama signed off on.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:46-36:55
“Released all those sanctions, gave them money.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 36:57-37:01
“Hamas would have never moved ever without directions from Iran.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 37:23-37:30
“Hezbollah would have never moved. All their funding, all their direction comes from [Iran].”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 37:29-37:35
“We have to understand that China and Iran and Russia are all accesses of evil.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 38:31-38:40
“We have to have a military that is not wasting its time on things like Dei and all this nonsense.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 38:40-38:50
“China's taking with Democrats help is helping destroy us economically.”
Eric Hovde, Ben Shapiro interview | Uploaded October 4, 2024 | 39:34-39:40