Political speech, timestamped and in context

Michael Bennet: “The American people are struggling with cost and this economy in a way that they have never struggled before.”

Featuring: Michael Bennet, Democratic | U.S. Senate, Colorado

'It's Been Like A Raging Forest Fire': Bennet Rails Against Trickle-Down Economics Amid Inequality

Published October 1, 2026

And I wish that there was a lot of stuff that we had addressed together. The American people are struggling with cost and this economy in a way that they have never struggled before. That's not an exaggeration. And it's true, Madam President, in rural Colorado and urban Colorado, it's true. In Republican parts of the state and Democratic parts of the state, it doesn't matter. (01:12–01:20)

STATEMENT

Asserts that Americans are facing unprecedented economic struggles.

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.

See the main statements from Michael Bennet in this video

“1% of the American people own 50% of the value of the stock market.”
Asserts that 1% of Americans own half of the stock market's value.02:39-02:45
“The bottom 50% of the American people own 1% of the value of the stock market.”
Asserts that the bottom half of Americans own only 1% of the stock market's value.02:45-02:52
“Gas prices are up 42% from the year before.”
Asserts that gas prices have increased by 42% compared to the previous year.06:32-06:37
“Diesel is the highest that has ever been in American history at 650A gallon.”
Asserts that diesel prices have reached a historical high of $6.50 per gallon.06:38-06:45
“The 10 year yield is the highest level since 2007.”
Asserts that the 10-year yield has reached its highest level since 2007.08:46-08:53
“Our literacy rates in this nation are the lowest they have been for 30 years.”
Asserts a decline in national literacy rates over the past 30 years.14:54-15:01
“We now have $40 trillion of debt on the balance sheet of this country.”
Asserts that the U.S. national debt is $40 trillion.15:44-15:49
“All of that pales in comparison to the $8 trillion we essentially lit on fire in the Middle East to pay for two forever wars.”
Asserts that the U.S. spent $8 trillion on wars in the Middle East.17:13-17:31
“He has cheerfully, basically admitted that he's made $1.4 billion in crypto profits while being President of the United States.”
Asserts that President Trump admitted to making $1.4 billion in cryptocurrency profits while in office.25:20-25:30
“Consumer sentiment is at the second lowest point in 70 years.”
Asserts that consumer sentiment is at its second lowest in 70 years.33:51-33:57
“42% of the recent college graduates in America are underemployed.”
Asserts that a significant portion of recent college graduates are underemployed.35:12-35:28
“Young men in America today in their 20s are making 40% less in real dollars than in 1976.”
Asserts a decline in real income for young men compared to 1976.35:31-35:40
“The Senate today passed by unanimous consent a bill to transfer [land] from the Forest Service to the people of Ouray.”
Asserts that the Senate passed a bill for land transfer to Ouray by unanimous consent.00:09-00:35
“We've lost a sense of economic opportunity in the nation.”
Asserts that there is a loss of economic opportunity in the nation.01:12-01:20
“Gas prices up 42%. Diesel $6.50.”
Asserts that gas prices have increased by 42% and diesel prices are $6.50.08:19-08:26
“The 30 year reached its highest level since June 2002.”
Asserts that the 30-year yield has reached its highest level since June 2002.09:01-09:07
“Mortgage rates are now over 7% in the United States of America.”
Asserts that mortgage rates in the U.S. are now over 7%.09:21-09:27
“When interest rates were at zero, the price of housing went through the roof.”
Asserts that housing prices increased significantly when interest rates were at zero.10:53-10:57
“For 95% of Americans, periods of economic growth have basically acted as recessions.”
Asserts that for 95% of Americans, economic growth periods have felt like recessions.12:10-12:32
“Recessions have been devastating.”
Asserts that recessions have had a devastating impact.12:32-12:35
“This war of choice in Iran is going to be a war that ends when the mullahs decide.”
Asserts that the conflict in Iran will end only when Iranian leaders decide.18:01-18:05
“He has no strategy. He has no game plan. He has no budget for what he's doing.”
Asserts that [Donald Trump] lacks a strategy, plan, and budget for his actions in Iran.18:37-18:44
“He's consuming, by the way, missile after missile after missile.”
Asserts that [Donald Trump] is using a significant number of missiles.18:43-18:47
“Donald Trump did nothing to get [Xi Jinping] to buy our soybeans.”
Asserts that [Donald Trump] failed to negotiate soybean purchases with China.20:20-20:24
“He's now allowed Brazil to come and steal our business, which they're doing.”
Asserts that Brazil is taking over U.S. agricultural business due to [Donald Trump's] policies.20:26-20:32
“Health care is more expensive [in rural America].”
Asserts that health care costs are higher in rural areas.21:28-21:30
“Childcare is more expensive [in rural America].”
Asserts that childcare costs are higher in rural areas.21:30-21:33
“Groceries are more expensive [in rural America].”
Asserts that grocery costs are higher in rural areas.21:32-21:35
“Gas is more expensive [in rural America].”
Asserts that gas costs are higher in rural areas.21:34-21:37
“Families are forced to pay more for everything.”
Asserts that families are experiencing increased costs for various goods and services.21:52-21:55
“There's hundreds of more dollars that people are having to spend on electricity and on housing itself, rent.”
Asserts that people are spending significantly more on electricity and housing.22:11-22:19
“President Trump has now spent millions of taxpayer dollars on political advertisements.”
Asserts that taxpayer money is being used for political ads by President Trump.23:07-23:20
“Part of his renovation of this town has been a billion dollars in White House renovations, including his ballroom and his helipad.”
Asserts that $1 billion was spent on White House renovations, including a ballroom and helipad.25:00-25:12
“No president has ever gotten rich the way Donald Trump has.”
Asserts that no previous president has accumulated wealth in office like Donald Trump.26:09-26:14
“Donald Trump has also [used federal law enforcement to] drag you out of your house.”
Asserts that President Trump has used federal law enforcement for political purposes.26:58-27:01
“No American would agree that any president should weaponize the federal government for his own political purposes.”
Asserts that weaponizing the federal government for political purposes is against American values.27:09-27:17
“The administration canceled $109 million of transportation grant.”
Asserts that the administration canceled a $109 million transportation grant.28:24-28:29
“The president denied disaster declarations for the Elk Leaf and Lee fires in Rio Blanco county and for flooding in western Colorado.”
Asserts that the president denied disaster declarations for specific fires and flooding in Colorado.28:30-28:40
“The Iran war has been a huge boon to China and to Russia.”
Asserts that the Iran war benefited China and Russia.32:52-32:57
“We are basically tariffing the entire world and that is haunting our farmers and ranchers.”
Asserts that global tariffs are negatively impacting American farmers and ranchers.33:38-33:46
“Higher rates in America are at record lows.”
Asserts that higher rates in America are at record lows.34:32-34:37
“The economic catastrophe of the way the economy is working is much worse under President Trump.”
Asserts that the economic situation has worsened under President Trump.35:07-35:11
“Anthropic, one of the leading American companies, says that its technology poses an existential risk to humanity.”
Asserts that a leading AI company acknowledges its technology as a potential existential risk.37:32-37:41
“The President has responded with a 'morally binding agreement' with the AI companies.”
Asserts that the President has made a morally binding agreement with AI companies.38:14-38:28
“We could have spent the time fixing our broken health care system, which is just becoming more expensive.”
Asserts that the health care system is broken and becoming more expensive.39:36-39:46
“We could have a tax code that actually supports work instead of passive investment.”
Asserts the need for a tax code that favors work over passive investment.42:36-42:41
“Donald Trump is more focused on putting guild stuff on the walls of the Oval Office, putting his name on the Kennedy center, building a ballroom, putting building a new triumphal arch in Washington, D.C. breaking the reflecting pool.”
Asserts that Donald Trump prioritizes personal projects over national issues.43:03-43:22