WEBVTT - And, This is Steve Bannon 0:00:09.080 --> 0:00:16.440 This is Gavin Newsom and this is Steve Bannett. Well, Steve, 0:00:16.480 --> 0:00:18.439 thanks so much for taking the time to be here. 0:00:18.480 --> 0:00:21.560 And I want to take this opportunity to sort of, 0:00:22.280 --> 0:00:24.480 you know, go back a little bit and talk about 0:00:24.520 --> 0:00:27.440 your history, a little bit about your motivations and where 0:00:27.440 --> 0:00:29.200 you see this country and for that matter, of the 0:00:29.240 --> 0:00:32.640 world going. But it's impossible not to note the world 0:00:32.680 --> 0:00:35.680 that we're living in a relationship to everything happening with 0:00:35.720 --> 0:00:39.839 the markets, everything happening with the with tariffs, everything happening 0:00:40.240 --> 0:00:42.440 UH with c R and a potential government. 0:00:42.800 --> 0:00:44.960 Don't don't don't be given tariffs think. I don't want 0:00:44.960 --> 0:00:47.400 to start off with you giving a stink. I already. 0:00:47.520 --> 0:00:50.200 Well we'll streuss a I'm a tariff guy. 0:00:50.479 --> 0:00:54.840 I appreciate that. And well we'll see, we'll see, we'll stress. 0:00:54.720 --> 0:00:56.560 The purpose I want to do this is I want 0:00:56.560 --> 0:00:59.480 to convert you to be a tariff guy. Also, this 0:00:59.560 --> 0:01:02.080 is this is part of the process to unwind you 0:01:02.120 --> 0:01:05.400 from being a globalist, to make you a populist nationalist. 0:01:05.480 --> 0:01:07.520 It's a long journey. It's a long journey. It's a 0:01:07.560 --> 0:01:09.199 long journey, but I think you'll get there. 0:01:09.360 --> 0:01:13.160 This is part of the deprogramming, is it. I appreciate 0:01:13.440 --> 0:01:15.440 And by the way, for the record, I'm going down 0:01:15.480 --> 0:01:18.240 your rabbit hole right here. I'm not an absolutists as 0:01:18.240 --> 0:01:21.559 it relates to being against terrorists by any stretched the imagination. 0:01:21.640 --> 0:01:24.280 And I thought it interesting where we what I think 0:01:24.400 --> 0:01:28.000 Biden tripled tariffs on illumined and steel, which is getting 0:01:28.000 --> 0:01:30.000 a lot of attention in this country today as relates 0:01:30.040 --> 0:01:33.959 to Canada, and Democrats weren't screaming and yelling about that 0:01:34.080 --> 0:01:34.800 so well. 0:01:35.720 --> 0:01:39.119 I mean, Fetterman, look you've got you know. By the way, 0:01:39.120 --> 0:01:41.800 thanks Governor for doing this. I really appreciate it. One 0:01:41.880 --> 0:01:44.240 to have this conversation for a long time. You know, 0:01:44.319 --> 0:01:48.840 two of the of the three best economic populists in 0:01:48.920 --> 0:01:50.920 the Democratic Party, who I think are kind of on 0:01:50.960 --> 0:01:55.440 an island. One of the best is Roquahanna Rose. Economic patriotism, 0:01:55.760 --> 0:01:58.800 which we always kid him is just ripping off Navarre 0:01:59.080 --> 0:02:02.600 and my economic nationalism is is you know, he's an 0:02:02.640 --> 0:02:07.680 economic populist. So is Fetterman. Fetterman just announced, you know 0:02:07.680 --> 0:02:10.239 we're here today during the CR. Freederman just announced he 0:02:10.240 --> 0:02:12.519 would support the CR if it came in as a 0:02:13.280 --> 0:02:16.400 Fetterman is a populist and then shared Brown. Sharon Brown 0:02:16.400 --> 0:02:18.720 I think has been an economic populist for a long time. 0:02:18.760 --> 0:02:22.760 So there are very strong voices in the Democratic Party. 0:02:23.400 --> 0:02:26.600 I think now unfortunately as a populist, I think they're 0:02:26.680 --> 0:02:29.440 kind of on an island because it really hasn't been 0:02:29.440 --> 0:02:32.160 the center of the conversation with the Democratic Party. But 0:02:32.240 --> 0:02:34.880 I think those three are are pretty good as far 0:02:34.880 --> 0:02:35.919 as populist and. 0:02:35.880 --> 0:02:38.120 See I mean in terms of populism, then it's a 0:02:38.160 --> 0:02:39.720 good segue. How do you define that? 0:02:39.840 --> 0:02:40.040 Then? 0:02:40.120 --> 0:02:42.640 What's I mean? Is it a principle? Is right? Obviously 0:02:43.040 --> 0:02:45.600 maybe a component part, But how do you define populism, 0:02:45.680 --> 0:02:49.280 particularly in a relationship to their reflective lens in terms of. 0:02:49.200 --> 0:02:53.320 What populism Obviously we believe in subsidiary, We believe in 0:02:53.400 --> 0:02:56.919 bringing power back to the grassroots level. Right. We're very 0:02:56.960 --> 0:02:58.960 anti elitist, and one of the reasons is we think 0:02:59.000 --> 0:03:03.000 the elites in this country, you know, the highly educated elites, 0:03:03.040 --> 0:03:06.600 the political class, the Wall Street, Silicon Valley, Hollywood, all 0:03:06.600 --> 0:03:09.760 of it, have really forgotten the underlying kind of principles 0:03:09.760 --> 0:03:12.239 of the country and kind of left working class people, 0:03:12.240 --> 0:03:17.359 regardless of their race, gender, ethnicity, sexual preference. You know, 0:03:17.960 --> 0:03:19.839 you pick it, they've kind of forgotten. And that's why 0:03:19.960 --> 0:03:22.720 such a big push for kind of these populous economic 0:03:22.760 --> 0:03:26.160 policies that look to put the lens is not just 0:03:26.200 --> 0:03:29.720 America first, but American citizens first, and goes with tax policy, 0:03:30.120 --> 0:03:32.960 it goes with tariffs, it goes to bringing manufacturing jobs back. 0:03:33.400 --> 0:03:38.000 It's nationalistic in the fact that not isolationists, but understanding 0:03:38.040 --> 0:03:40.600 that we've got to make it right for American citizens 0:03:40.640 --> 0:03:43.720 and particularly for the greatest resource we've had or ever had, 0:03:43.760 --> 0:03:47.000 which is the American working men and woman. So it's 0:03:47.040 --> 0:03:50.040 to push every decision as down low as possible and 0:03:50.120 --> 0:03:53.120 to get everything back to a grassroots level. And one 0:03:53.120 --> 0:03:55.560 of the keys to populism kind of about the sovereign 0:03:55.600 --> 0:03:59.000 will is that the use of human agency. That just 0:03:59.080 --> 0:04:02.280 don't sit there and say, you know, somebody else's got 0:04:02.280 --> 0:04:04.680 congressman's got to do something, or a senator's got to 0:04:04.720 --> 0:04:06.360 do something, or governor's got to do something. Of that, 0:04:06.440 --> 0:04:09.040 you have to use your agency only. And I see 0:04:09.080 --> 0:04:12.680 this in the Democratic Party now, the people saying do something, 0:04:13.200 --> 0:04:16.360 do something. I think that's a lesson that we learned 0:04:16.640 --> 0:04:19.159 after President Trump. And look, you know, we disagree on this, 0:04:19.240 --> 0:04:21.800 but President Trump won the twenty twenty election, and we 0:04:21.800 --> 0:04:24.880 were kind of shattered as a movement when he left Washington, 0:04:24.960 --> 0:04:27.120 d C. And we had to go back to basics 0:04:27.160 --> 0:04:29.880 to say, you know, it can't be somebody else do something. 0:04:30.000 --> 0:04:32.080 You know, we had to do something, and that's where 0:04:32.080 --> 0:04:34.480 we went back to really a pure populist movement, to 0:04:34.520 --> 0:04:37.479 go at the grassroots, the precinct strategy and kind of 0:04:37.480 --> 0:04:38.640 rebuild ourselves from there. 0:04:38.880 --> 0:04:41.040 Well, and I appreciate the notion of agency, that we're 0:04:41.040 --> 0:04:44.560 not bystanders in the world. It's decisions, not conditions that 0:04:44.680 --> 0:04:47.440 determine our fade in future, and that that that fundamental 0:04:47.480 --> 0:04:50.120 notion of agency, I think is important more broadly, and 0:04:50.160 --> 0:04:52.360 I think that goes to some of the issues around, 0:04:52.520 --> 0:04:55.000 you know, victimization, and I see a lot of that, 0:04:55.080 --> 0:05:00.280 respectively on the right increasingly, even with Trump often reaching 0:05:00.560 --> 0:05:02.560 things from that sort of mindset. 0:05:02.240 --> 0:05:03.320 Do you what do you mean? What do you mean? 0:05:03.360 --> 0:05:04.280 What do you mean? For Trump? 0:05:04.320 --> 0:05:07.080 I think there's sort of the grievance narrative that comes 0:05:07.080 --> 0:05:09.919 from Trump, this this notion there is there sort of 0:05:09.920 --> 0:05:10.320 a victim. 0:05:10.560 --> 0:05:12.160 But they did try to they did try they did 0:05:12.160 --> 0:05:15.040 try to put him in prison for three hundred years right, 0:05:15.080 --> 0:05:17.560 they did try to bangrupt, So that's a guy it 0:05:17.680 --> 0:05:21.320 never had ever had a set of grievances. They did 0:05:21.360 --> 0:05:23.720 steal according to us, and we're firm believes it is 0:05:23.760 --> 0:05:26.760 the twenty twenty election, which I think worked out better 0:05:27.360 --> 0:05:29.800 that providentially that he was able to come back with 0:05:29.839 --> 0:05:32.400 that gap, because I think you're seeing a a much 0:05:32.440 --> 0:05:35.039 more uh not just do and improved, but somebody that's 0:05:35.120 --> 0:05:37.560 much more in command of these decisions and really stepping 0:05:37.680 --> 0:05:40.000 up in a way that we could have never done before. 0:05:40.320 --> 0:05:42.640 But no, I don't think it's grievances. I think it's reality. 0:05:42.680 --> 0:05:45.800 I mean, they tried to. No one in American history 0:05:46.160 --> 0:05:49.040 has the system ever come after. And I think that's 0:05:49.040 --> 0:05:50.960 one of the problems that the Democrats you've got in 0:05:51.000 --> 0:05:53.920 a position of having to defense. Remember I come from 0:05:53.960 --> 0:05:55.880 a working class Democratic family. 0:05:56.040 --> 0:05:58.200 Kennedy Democratic family, Kennedy a Democrat. 0:05:58.240 --> 0:06:01.080 I was telling some people last night, I said, we 0:06:01.120 --> 0:06:04.600 didn't know any Republicans. There were just we were Irish, Catholic, 0:06:04.640 --> 0:06:08.960 working class phone company firemen, you know, a navy enlisted people. 0:06:09.480 --> 0:06:11.880 You didn't know any Republicans. They just weren't in your 0:06:12.200 --> 0:06:15.000 you know, we were in the South also, which is 0:06:15.040 --> 0:06:18.920 all you know, machine democratic politics. So you didn't know anybody. 0:06:18.960 --> 0:06:21.120 You didn't know anybody then, and so to see what 0:06:21.440 --> 0:06:23.920 President Trump had to go through and to see how 0:06:24.000 --> 0:06:27.440 we've actively changed the Republican Party to actually the working 0:06:27.480 --> 0:06:29.599 class party in this country. You know, it was a 0:06:29.600 --> 0:06:32.159 poll done last spring that showed that we as a 0:06:32.200 --> 0:06:35.880 Republican Party at the working class party and viewed as such, 0:06:36.400 --> 0:06:39.280 and that President Trump's the leader of that working class party, 0:06:39.520 --> 0:06:42.080 and the Democrats have become both not just the Wall 0:06:42.080 --> 0:06:45.920 Street elitist but also kind of the credential class with 0:06:46.920 --> 0:06:49.599 the poor underneath it, of which we're now trying to 0:06:50.080 --> 0:06:53.359 obviously recruit not just the working poor, but actually the 0:06:53.400 --> 0:06:55.760 poor it self to join our broadening coalition. 0:06:56.080 --> 0:06:57.640 Well, I appreciate it. I want to and i'll I 0:06:57.680 --> 0:06:59.680 want to talk more about that because I think it's interesting, 0:06:59.720 --> 0:07:03.719 just as one of the points of contrast with you, Anne, Frankly, 0:07:03.839 --> 0:07:06.320 Trump himself right now is on some of the issues 0:07:06.320 --> 0:07:09.359 of tax policy in relationship this notion of who are 0:07:09.400 --> 0:07:13.920 you fo And you've been pretty critical about the proposed 0:07:14.120 --> 0:07:18.480 tax the extension of the existing tax cuts that disproportionately 0:07:18.480 --> 0:07:21.720 favor the wealthiest, and you were making the point that 0:07:21.840 --> 0:07:25.160 it should disproportionately focus on the middle class and work. 0:07:25.680 --> 0:07:28.360 You know, Governor, I'm not so sure. Let me get there. 0:07:28.480 --> 0:07:32.040 So in seventeen I was a big advocate of that 0:07:32.120 --> 0:07:36.120 in the first Trump tax plan of actually raising the 0:07:36.240 --> 0:07:40.680 rates on the upper bracket and doing actually more to 0:07:40.720 --> 0:07:43.440 the lower bracket of corporations. And it was not just 0:07:43.440 --> 0:07:45.640 what I thought was right, but also politically expedient at 0:07:45.640 --> 0:07:50.160 that time. In the spring of twenty seventeen, it was 0:07:50.200 --> 0:07:56.680 really Bernie Sanders and the Pocahontas that was going to 0:07:56.720 --> 0:08:00.840 be the number one in Elizabeth is going to be 0:08:01.040 --> 0:08:04.680 pocahon as we called going to be the challengers coming 0:08:04.720 --> 0:08:06.920 from the populace left, and I thought it was very 0:08:06.960 --> 0:08:09.360 important to nip that in the by the time and 0:08:09.480 --> 0:08:12.240 raise the brackets. Now, I think history shows that they 0:08:12.240 --> 0:08:14.960 can show you the math that they're doing. All of 0:08:15.000 --> 0:08:17.680 that actually worked in Unison and got us that great 0:08:18.200 --> 0:08:21.400 you know, twenty nineteen. Today, in President Trump, I think 0:08:21.640 --> 0:08:23.880 invest in are pretty upfront that this is the last 0:08:23.920 --> 0:08:25.960 chance we're going to get it. A supply side cut 0:08:26.240 --> 0:08:29.520 of that four trillion dollars. I think the two point 0:08:29.560 --> 0:08:33.160 six trillion dollars of joint you know, four hundred thousand 0:08:33.320 --> 0:08:37.320 below of couples, and I think you add another couple 0:08:37.360 --> 0:08:39.640 one hundred billion dollars for maybe the pass throughs to 0:08:39.679 --> 0:08:42.679 the LLCs. The entrepreneurs get caught up. But that additional 0:08:42.720 --> 0:08:46.840 trillion dollars unless it's going to be shown mathematically, and 0:08:46.880 --> 0:08:49.559 I think people are working on this that they consume. 0:08:49.640 --> 0:08:52.360 You know, right now, I think the top three percent 0:08:52.400 --> 0:08:55.360 consumer almost fifty percent of what's going to the country. 0:08:55.400 --> 0:08:57.720 Unless that you're concerned that that would kick you into 0:08:57.720 --> 0:09:00.600 a major recession of that one away, I am. I'm 0:09:00.640 --> 0:09:04.800 pretty adamant about that. You shouldn't the upper bracket shouldn't 0:09:04.800 --> 0:09:06.760 get it, and even some of the corporations shouldn't get 0:09:06.760 --> 0:09:09.080 it if they're just going to do stock buybacks. But 0:09:09.360 --> 0:09:12.480 additional tax cuts should go as President Trump promised, no 0:09:12.640 --> 0:09:15.719 tax on tips, no tax on overtime, and particularly no 0:09:15.800 --> 0:09:17.439 tax on social security. Yeah anything. 0:09:17.640 --> 0:09:20.160 His current proposal done that up. Then in that respect 0:09:20.160 --> 0:09:22.880 well as the deficit and continues those corporate tax cuts 0:09:22.920 --> 0:09:25.360 and continues the tax cuts to the wealthiest. So it runs. 0:09:25.559 --> 0:09:30.360 And I think we're not to be argumentative, no appreciate 0:09:30.400 --> 0:09:32.640 it we want to have an open dialog. I think 0:09:32.679 --> 0:09:35.199 when you look at Besson, and Charlie Gasparino had a 0:09:35.240 --> 0:09:37.280 pretty good piece in the New York Post today about this. 0:09:37.920 --> 0:09:41.280 If you add in, if you look at the growth 0:09:41.360 --> 0:09:43.199 rates and it's predicating on growth. You look at a 0:09:43.240 --> 0:09:46.040 growth rate two and a half to three percent, right, 0:09:46.120 --> 0:09:48.319 if you look at what we're trying to do in 0:09:48.400 --> 0:09:51.679 cutting federal spending in addition doze which is the way 0:09:51.840 --> 0:09:55.480 frauden abuse, and you look at additional revenues externally from 0:09:55.559 --> 0:09:58.240 tariffs you can get to and what Besson's trying to 0:09:58.280 --> 0:10:00.600 do is take the deficit from six and a half 0:10:00.640 --> 0:10:03.319 percent of GDP down to three and a half percent 0:10:03.360 --> 0:10:05.600 of GDP. So this is not this out of control 0:10:05.960 --> 0:10:09.400 explosion of two trillion dollars in deficits which we as 0:10:09.440 --> 0:10:11.480 Republicans are about to sign off on today. Just so 0:10:11.559 --> 0:10:16.920 your audience understands this cr today, the House will approve 0:10:17.080 --> 0:10:20.920 the Biden Kamala Harris spending for this year, locking it in, 0:10:21.400 --> 0:10:22.000 locking it in. 0:10:22.040 --> 0:10:24.000 And that's how you can't be I mean, how are 0:10:24.040 --> 0:10:25.280 you out there supporting that? 0:10:25.320 --> 0:10:28.839 Then? Well, because right now I think with everything at 0:10:28.840 --> 0:10:32.320 do and by the way, it's just it's that plus 0:10:32.320 --> 0:10:35.480 it's a two tran dollar deficit. Okay. I think the 0:10:35.559 --> 0:10:38.240 reason we're doing it is that the House has not 0:10:38.280 --> 0:10:41.240 gotten their act together to get these single subject appropriations 0:10:41.280 --> 0:10:44.120 bills done. They are committed to do that working with 0:10:44.200 --> 0:10:46.680 Democrats in the spring and some of this year for 0:10:46.760 --> 0:10:50.400 fiscal year twenty six. And I think to keep the 0:10:50.800 --> 0:10:53.680 to keep the government open, to keep President Trump hitting 0:10:53.679 --> 0:10:56.880 on alls, there's to keep doze at work in federal 0:10:56.920 --> 0:11:00.559 court overnight, the federal courts are coming after this is 0:11:00.600 --> 0:11:04.200 on at least information. We expect many more lawsuits about that. 0:11:04.600 --> 0:11:07.440 But I think in the effort to do it, we're prepared, 0:11:07.520 --> 0:11:10.319 and you know, we hate, we hate any cr this 0:11:10.400 --> 0:11:12.560 one we've hated for a long time. We're prepared to 0:11:12.559 --> 0:11:14.719 go along with the Presiden says he needs it. What 0:11:14.800 --> 0:11:18.160 I love about Johnson for the first time, they just 0:11:18.200 --> 0:11:21.079 announced that they're going to vote on it this afternoon. 0:11:21.200 --> 0:11:22.800 He thinks he's got the votes in the House to 0:11:22.840 --> 0:11:25.440 do it. Then they're going on recess. They're send it 0:11:25.480 --> 0:11:28.520 over to the Democratic Senate with that play me or 0:11:28.559 --> 0:11:28.880 trade me. 0:11:29.280 --> 0:11:31.120 It's right, and they need seven votes on the Senate 0:11:31.240 --> 0:11:33.320 side in order to get this done. Otherwise we've got 0:11:33.320 --> 0:11:35.320 a government shut down, it yet another one. What is 0:11:35.320 --> 0:11:37.120 your over under on the prospects of that. 0:11:37.640 --> 0:11:39.760 I think it's interesting. I think the Democrats have to 0:11:39.760 --> 0:11:42.640 make a decision of whether they think it's better to 0:11:42.720 --> 0:11:45.319 keep it going and keep the resistance they've got in 0:11:45.600 --> 0:11:49.080 the legislative part, but also in the courts or let 0:11:49.120 --> 0:11:53.280 elon musk, you know, the potentially unchaining h with the 0:11:53.320 --> 0:11:55.920 DOSEE groups, on on who's you know, who's who's a 0:11:56.240 --> 0:11:59.240 necessary employee versus who's an unnecessary employee. I think it's 0:11:59.280 --> 0:12:02.720 the first time because traditionally the Democrats have always been 0:12:02.760 --> 0:12:05.600 for keeping the government open. I think they put him 0:12:05.600 --> 0:12:07.920 in a real conjurary, and I think this is Johnson's 0:12:08.120 --> 0:12:10.400 It's going to be high stakes poker. I think this afternoon. 0:12:10.440 --> 0:12:12.920 But people should understand this is a this is a 0:12:12.920 --> 0:12:16.199 bitter pill to swallow for us, because we have argued 0:12:16.240 --> 0:12:18.360 this is the whole reason. Kevin McCarthy, a guy you 0:12:18.440 --> 0:12:21.679 know very well from California, we got turfed out his speaker. 0:12:21.720 --> 0:12:23.960 It was all over. It was the deal he cut 0:12:24.000 --> 0:12:28.160 with Biden that gave President Biden two years and unlimited 0:12:28.200 --> 0:12:32.000 no debt ceiling to spend and run up, and McCarthy 0:12:32.080 --> 0:12:36.240 then didn't deliver on the single subject appropriations bills and 0:12:36.280 --> 0:12:39.920 he got turfed out. So your audience understand, these are 0:12:40.080 --> 0:12:42.240 huge fights on our side of the football all the 0:12:42.240 --> 0:12:43.160 time about spending. 0:12:48.720 --> 0:12:51.680 So locking in the Biden era budget or at least 0:12:51.679 --> 0:12:53.679 extending it and kicking it out. It's the last thing 0:12:53.720 --> 0:12:57.920 I expected to see coming from your side of the aisle, 0:12:57.960 --> 0:13:00.440 or at least in the MAGA movement. But also even 0:13:00.480 --> 0:13:03.720 you saying something complimentary about Speaker Johnson, you've been pretty critical. 0:13:04.320 --> 0:13:05.320 I've been very critical. 0:13:05.440 --> 0:13:07.320 I think we're I think we're I've been very up 0:13:07.400 --> 0:13:09.840 until today, I've been very critical about we're in this 0:13:10.000 --> 0:13:13.880 job because of over promising and underperforming. And I think 0:13:13.880 --> 0:13:16.719 you've got in leadership, I think now, and I think 0:13:16.760 --> 0:13:18.560 it's a long way from him being out of the woods. 0:13:18.600 --> 0:13:21.920 Is that now? Because you got you got only he's 0:13:21.920 --> 0:13:24.880 got six months now he's got to deliver like a 0:13:24.920 --> 0:13:28.079 real budget with real cuts. Because just back for your audience, 0:13:28.920 --> 0:13:31.560 the doge effort is waste for an abuse. Okay, they're 0:13:31.640 --> 0:13:34.040 kind of like shock troops or special forces, and people 0:13:34.040 --> 0:13:36.320 can either say they're great or whatever. I would like 0:13:36.360 --> 0:13:40.920 to see a little more definition of what they've actually found. Okay, 0:13:40.960 --> 0:13:45.840 all of us Wouldsparency, I agree with you, more more transparency, 0:13:46.040 --> 0:13:48.720 but I think but that doesn't to me get to 0:13:48.800 --> 0:13:50.960 the to the to the the meat of it, because 0:13:50.960 --> 0:13:53.000 I think you're going to have to have programmatic cuts, 0:13:53.360 --> 0:13:56.240 and I've been a big proponent that those programmatic cuts 0:13:56.320 --> 0:13:58.360 have to start in the Defense department. I was a 0:13:58.440 --> 0:14:01.319 naval officer for a years. My daughter went to West Points. 0:14:01.480 --> 0:14:03.840 I'm not a dove, but I think I've been a 0:14:03.840 --> 0:14:06.720 big critic of the tree. And we're at a trillion 0:14:06.760 --> 0:14:08.960 dollars now, and that's one of the reasons of this 0:14:09.040 --> 0:14:12.680 postwar international rules based order. We just can't continue on 0:14:12.800 --> 0:14:15.040 with NATO. We got to have allies that really pitch 0:14:15.080 --> 0:14:17.000 in here. But you got to start in the Defense 0:14:17.040 --> 0:14:19.360 department program at you have to do programs and bills 0:14:19.400 --> 0:14:22.200 to get to get the budget deficit to three and 0:14:22.240 --> 0:14:25.120 a half percent of GDP roughly under a trellion dollars, 0:14:25.440 --> 0:14:28.800 so that we can start somehow we can begin to 0:14:28.840 --> 0:14:31.560 finance this because right now that's the driver of inflation, 0:14:32.000 --> 0:14:35.800 you know, Biden, the they just restated their numbers from 0:14:35.840 --> 0:14:39.200 the fourth quarter. And traditionally the Biden thing has always 0:14:39.240 --> 0:14:41.480 been the labored number has always been different, right, It's been, 0:14:41.800 --> 0:14:43.960 you know, one thing and then, and we've criticized that 0:14:44.000 --> 0:14:46.720 for a long time. This one the shocker, and I 0:14:46.760 --> 0:14:49.360 don't think that. And I've said this that the guys 0:14:49.360 --> 0:14:52.280 in the economic team did enough for President trumpet pushing this. 0:14:52.680 --> 0:14:55.040 The inflation number went from two point two percent to 0:14:55.040 --> 0:14:57.480 four point two percent, and it really didn't even get 0:14:57.560 --> 0:14:59.240 mentioned in the Business for US. And I said, that 0:14:59.400 --> 0:15:02.280 shows you the underlying kind of burning inflation. And the 0:15:02.320 --> 0:15:04.840 reason that is the finance. You have to finance now 0:15:05.360 --> 0:15:08.840 essentially a third of the debt every year, so you're talking, 0:15:08.920 --> 0:15:11.560 I don't know, ten twelve trellion dollars, the government securities 0:15:11.600 --> 0:15:14.880 you have to sell at higher interest rates. That's what's 0:15:14.960 --> 0:15:19.000 driving inflation. Plus I think a two loose federal reserves, 0:15:19.040 --> 0:15:22.280 so you had both a fiscal overspending and a monetary 0:15:22.360 --> 0:15:25.680 loose money. We've got an inflation problem that's not going 0:15:25.760 --> 0:15:28.640 to be easily solved. The way to solve inflation is 0:15:28.640 --> 0:15:32.960 you have to cut I believe federal spending dramatically. You 0:15:33.000 --> 0:15:35.080 have a canesy and kind of stimulus all the time, 0:15:35.120 --> 0:15:36.600 and you have to do it, and that's going to 0:15:36.680 --> 0:15:39.920 lead to painful conversations. It just is because if dose 0:15:40.080 --> 0:15:42.720 doesn't find all this waste for an abuse right and 0:15:42.960 --> 0:15:45.520 they're saying now they think they can get a trellion dollars, 0:15:45.520 --> 0:15:47.160 which would cut the deficit in half. 0:15:48.200 --> 0:15:50.400 Either you can't get a tree and back to your 0:15:50.400 --> 0:15:54.840 point without significant programmatic cuts. And I appreciate the defense frame, 0:15:54.920 --> 0:15:58.600 which is anathema. I mean the cring increases the defense 0:15:58.600 --> 0:16:02.160 spending and in a higher rate, but you can't get 0:16:02.200 --> 0:16:05.280 there without cuts to something that you, to your credit, 0:16:05.600 --> 0:16:07.520 have said. You know, you can't put a quote unquote mee. 0:16:07.800 --> 0:16:09.720 I came, I came to medicaid, I came out of 0:16:09.760 --> 0:16:11.960 the Pentagon. And this is why I was adamant about 0:16:12.040 --> 0:16:14.880 Elon Musk what we called crossing the Potomac. There's a 0:16:14.920 --> 0:16:16.600 point in time that people were saying, well, let Pete 0:16:16.640 --> 0:16:19.640 Hexath handle the Pentagon. Elie I said no to get 0:16:19.640 --> 0:16:21.440 if you're going to get prog first off waste fard 0:16:21.480 --> 0:16:24.960 in reviews. I think everybody has to get everyone, and 0:16:25.000 --> 0:16:27.040 not just that the Pentagon's got to step up. People 0:16:27.120 --> 0:16:30.840 have to know that if the way because it's always rumored. 0:16:31.040 --> 0:16:33.280 You know this, they can't pass an audit. It's two 0:16:33.320 --> 0:16:35.080 trillion dollars of. 0:16:35.320 --> 0:16:38.280 Two trillion just for the damn F thirty five, which 0:16:38.840 --> 0:16:40.520 gets programmatically. 0:16:39.880 --> 0:16:41.640 But there's two training on the audit. I think there's 0:16:41.640 --> 0:16:43.680 true training and assets they can't put their hands on. 0:16:44.240 --> 0:16:46.840 John Stewart was just lighting up one of the Undersecretary's 0:16:46.880 --> 0:16:48.680 defense I think a couple of weeks ago about this. 0:16:49.120 --> 0:16:51.200 So you have to do that. But then programmatically, and 0:16:51.240 --> 0:16:54.320 this is why I think President Trump's hemisphere, the shift 0:16:54.360 --> 0:16:57.960 to hemispheric defense, which is from Greenland to the Panama 0:16:58.000 --> 0:17:01.000 canal more of a naval strategy in the It's the 0:17:01.040 --> 0:17:04.560 three island chains and really the the vast desert of 0:17:04.560 --> 0:17:08.359 the Pacific is really the American heartland. That's our defensive barrier. 0:17:08.520 --> 0:17:12.160 That to me, should restructure the entire Pentagon and armed 0:17:12.200 --> 0:17:15.200 forces to that. To force structure around that. I think 0:17:15.200 --> 0:17:17.159 Pete hex has got to move immediately. I think there 0:17:17.160 --> 0:17:20.440 should be significant cuts to the Defense Department, and then 0:17:20.560 --> 0:17:23.680 that would give you the political cover to then say 0:17:23.680 --> 0:17:26.320 on medicaid, you know, we got to be sensible here 0:17:26.840 --> 0:17:29.199 right now with the economic distress, there's a lot of 0:17:29.240 --> 0:17:31.760 MAGA on Medicaid and a lot. 0:17:31.640 --> 0:17:34.480 Of overwhelming opposition to cut in it, and and. 0:17:34.920 --> 0:17:37.320 And I think by you know, the illegal aliens and 0:17:37.320 --> 0:17:40.120 and and UH and obviously the waste, fraud and abuse 0:17:40.240 --> 0:17:42.359 and and some of the things about you know, a 0:17:42.480 --> 0:17:44.760 block granting it back to a governor like yourself in 0:17:44.800 --> 0:17:48.000 the California UH. To figure it out has to happen. 0:17:48.040 --> 0:17:50.159 And how the social programs. This is not going to 0:17:50.200 --> 0:17:53.439 be painless to we've been so out of control and 0:17:53.520 --> 0:17:56.600 so and it's both parties. The Republican Party has been 0:17:56.640 --> 0:18:00.160 controlled opposition. They have not had these tough fights. That's 0:18:00.200 --> 0:18:01.639 the tough fights we're going to have to happen. 0:18:01.600 --> 0:18:04.000 And to be fair, so people understand, and it's not 0:18:04.040 --> 0:18:06.560 an indictment to your point about both parties. But you know, 0:18:06.880 --> 0:18:09.200 another eight point four trillion dollars went to the debt 0:18:09.400 --> 0:18:11.920 under Trump administration. And to be fair, COVID had a 0:18:12.000 --> 0:18:14.240 huge part of that, but it's three trillion even before 0:18:14.240 --> 0:18:16.840 COVID hit to your point, And I remember talking by 0:18:16.840 --> 0:18:19.000 the way, you'll appreciate this, Steve. I remember being in 0:18:19.080 --> 0:18:22.520 Marine one talking to Trump, President Trump about the issue 0:18:22.560 --> 0:18:24.479 of the deficit, and he literally looks at me, and 0:18:24.520 --> 0:18:27.320 he goes like this with his hands and he said 0:18:27.359 --> 0:18:30.359 printing press, printing press, and literally dismissed it. 0:18:30.359 --> 0:18:31.840 He was kidding, he was kidding. 0:18:31.920 --> 0:18:34.160 Yeah, well, I'm not the way he governed the first 0:18:34.160 --> 0:18:35.720 four years. I'm not sure you know that first. 0:18:35.800 --> 0:18:37.520 By the way, the first couple of years, the first 0:18:37.520 --> 0:18:39.880 couple of years, the deficits were under I think four 0:18:39.920 --> 0:18:42.000 or five hundred million dollars. We came very close to 0:18:42.119 --> 0:18:44.320 actually trying to balance it if we went back to 0:18:44.359 --> 0:18:46.879 pre COVID spending. I mean, Scott Beston says this all 0:18:46.880 --> 0:18:50.119 the time. We don't have a revenue problem, and this 0:18:50.200 --> 0:18:53.000 is a verber I would think about having to increase your taxes. 0:18:53.200 --> 0:18:55.680 We have a spending problem. I mean, post COVID, we've 0:18:55.680 --> 0:18:57.600 had explosion of some of these programs. I think he 0:18:57.680 --> 0:18:59.840 got to get your arms around him. But once again, 0:19:00.400 --> 0:19:01.960 these are going to be huge fights and they're not 0:19:02.000 --> 0:19:04.280 going to be painless. What I like about Johnson today 0:19:04.320 --> 0:19:06.720 for the first time, because I think he's tapped us 0:19:06.720 --> 0:19:09.760 along and over promise and now we're in a situation that, 0:19:10.040 --> 0:19:12.200 you know, we have to do a cr which we hate. 0:19:12.760 --> 0:19:16.719 If you think that the Magabase and our show. We 0:19:16.800 --> 0:19:19.360 represent the hardest core of the hardcore. If you think 0:19:19.400 --> 0:19:22.600 we like sitting here and basically not lighting up the 0:19:22.600 --> 0:19:27.400 phones and accepting Joe Biden and Kamala Harris's budget, it's 0:19:27.400 --> 0:19:28.080 a tough pill. 0:19:28.080 --> 0:19:29.479 And it's a tell of a thing. I mean, I'm 0:19:29.560 --> 0:19:31.520