WEBVTT - Instant Reaction: Supreme Court STRIKES DOWN Trump’s Tariffs 

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<v Speaker 1>Well, huge news for consumers, and I think that's the

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<v Speaker 1>important win. This is a huge win for consumers and

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<v Speaker 1>a huge win for constitutionalists. A Supreme Court in a six'

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<v Speaker 1>to three decision ruled the president's emergency authority that he

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<v Speaker 1>has claimed to have to impose tariffs across the. Board

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<v Speaker 1>if you go back To Liberation day and how he's

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<v Speaker 1>used tariffs as a coercion tool on trade, deals all

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<v Speaker 1>of that is unconstitutional and so now we go into

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<v Speaker 1>a world of. Uncertainty, politically this should be great news

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<v Speaker 1>For Congressional, republicans so hear me. Out many of These

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<v Speaker 1>republicans don't like these, tariffs but they have not wanted

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<v Speaker 1>to cross the. PRESIDENT i would say that if you

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<v Speaker 1>had a secret vote Of Congressional republicans On Capitol, hill

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<v Speaker 1>you probably would have a sort of a fifty to

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<v Speaker 1>fifty split Among House republicans and probably two thirds Of

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<v Speaker 1>Senate republicans not in favor of the president's use of

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<v Speaker 1>tariffs and his policies toward. Here but, obviously if it's

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<v Speaker 1>not a secret, ballot many of people want to get

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<v Speaker 1>caught siding with the. President but we've seen these little

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<v Speaker 1>we've seen the tariffs have created a small, wedge and

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<v Speaker 1>when there's been an, opportunity Some republicans have publicly shown

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<v Speaker 1>their cards and have pushed back on the. President we

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<v Speaker 1>saw that symbolic vote On canadian tariffs in The house

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<v Speaker 1>a couple of weeks, ago which saw Six House republicans

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<v Speaker 1>go on the. Record so why is that sick number

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<v Speaker 1>Of republicans who symbolically voted to get rid Of canadian tariffs?

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<v Speaker 1>Important because in, theory the simplest way for the president

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<v Speaker 1>to essentially to get this authority back and restore his

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<v Speaker 1>ability to impose these tariffs is to go get permission From,

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<v Speaker 1>congress go get specific authority to do what he wants to.

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<v Speaker 1>Do the problem, was even though there Are republican majorities

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<v Speaker 1>in The house in The, senate there are not majorities

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<v Speaker 1>in The house in The senate that are in favor

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<v Speaker 1>of this unilateral. Authority there are plenty Of republicans who

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<v Speaker 1>view tariffs as straight up consumption taxes and that they're

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<v Speaker 1>essentially taxes on working. People and there's been plenty of

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<v Speaker 1>studies that have shown the tariffs that have been imposed

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<v Speaker 1>have been primarily paid by, consumers not by the other.

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<v Speaker 1>Countries Like President, trump claims or by the businesses which

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<v Speaker 1>The president tried to browbeat into eating some of his.

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<v Speaker 1>Tariffs and they. Did some companies ate tariffs Early hyundai

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<v Speaker 1>And kia for a short period of time ate some

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<v Speaker 1>of the early, tariffs but none of these companies were

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<v Speaker 1>going To we're going to eat them for. Long here's

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<v Speaker 1>the real, problem, though you, know while this is politically

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<v Speaker 1>good news in theory could be good news For republicans

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<v Speaker 1>that are on the ballot in twenty twenty, six there's

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<v Speaker 1>a ton of uncertainty now that comes with this. Ruling,

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<v Speaker 1>right The president's team in a way that AND i

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<v Speaker 1>think this was a little bit of sort of, bloviating

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<v Speaker 1>if you, will trying to jawbone The Supreme court saying,

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<v Speaker 1>well it doesn't matter how you, rule because if you

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<v Speaker 1>go and rule against, This we've got plenty of ways

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<v Speaker 1>to impose. This we've got other ways to do. This

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<v Speaker 1>there are small ways they can do, this but it's

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<v Speaker 1>very sector specific and it's they're certainly going to have

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<v Speaker 1>to do it. Differently but here's the. Thing there's a

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<v Speaker 1>whole bunch of businesses that are going to want this

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<v Speaker 1>tariff money. Back they're going to be looking for, Refunds

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<v Speaker 1>so you're going to have that situation potentially. Introduced and you,

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<v Speaker 1>know The president has been spending this tariff. Revenue he's

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<v Speaker 1>spent more than he has collected, rhetorically if you, will,

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<v Speaker 1>right he's always talking, about, oh we can give money

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<v Speaker 1>back to the people, here or we can use it

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<v Speaker 1>to pay for, this or we can use it to

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<v Speaker 1>pay for. That, well now he's going to have to

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<v Speaker 1>refund some of, this so you're going to see a

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<v Speaker 1>lot of. Lawsuits he's not going to want to admit.

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<v Speaker 1>Defeat so the wild card here and the fact that

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<v Speaker 1>we're living in this era of. INSTABILITY i, mean just

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<v Speaker 1>look at the car. Weekend i'm coming to you here

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<v Speaker 1>on A friday morning after this in court. Ruling and you,

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<v Speaker 1>know we're also still in a partial shutdown OF dhs

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<v Speaker 1>And american flying, public and you HAVE tsa agents working without.

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<v Speaker 1>Pay we have the largest number of military assets in

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<v Speaker 1>The middle gathering in The Middle east since the start

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<v Speaker 1>of The Iraq, war where it's not clear what we're

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<v Speaker 1>going to do With. Iran we're going to attack them

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<v Speaker 1>to do? What just to take out their nuclear program

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<v Speaker 1>or are we looking for regime chains or something? Else

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<v Speaker 1>what is this. About he's got A state of The

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<v Speaker 1>union On, tuesday and let's just say that while he

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<v Speaker 1>may want to talk about what he wants to do

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<v Speaker 1>or hopes to do over the next two, years instead

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<v Speaker 1>he's got a lot of explaining to. Do you, know

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<v Speaker 1>how is? He you, know never mind that we just

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<v Speaker 1>got a NEW gdb report earlier this morning that indicated

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<v Speaker 1>the economy grew at an snail's pace in the fourth

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<v Speaker 1>quarter of last, year part of the reason being the

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<v Speaker 1>forty plus day government. Shutdown, now even the current shutdown

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<v Speaker 1>now does not have that kind Of it's not is

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<v Speaker 1>big and is not going to have that kind of

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<v Speaker 1>impact on this quarter's. Growth but this uncertainty for business

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<v Speaker 1>now with these, tariffs and it's been nothing but. Uncertainty

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<v Speaker 1>this only adds more of. It because you, know If

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<v Speaker 1>Donald trump were a conventional, president you'd sort of take your,

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<v Speaker 1>Defeat you'd accept the premise that you don't have the

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<v Speaker 1>votes On Capitol, hill and you might rhetorically continue to

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<v Speaker 1>campaign and say this is the best way to do,

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<v Speaker 1>it and let me persuade. You that would be how

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<v Speaker 1>a normal politician would. Behave we, know this is not

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<v Speaker 1>how he behaves he's going to take this as a personal.

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<v Speaker 1>Rebuke he is going to probably attack those that rule against.

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<v Speaker 1>Him what's interesting here is two of his appointees were

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<v Speaker 1>on The this is a six to three, decision and

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<v Speaker 1>it didn't quite break the way that we had seen

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<v Speaker 1>many of these decisions when they go Against trump break.

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<v Speaker 1>Right we've seen there's a fairly consistent three justices that

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<v Speaker 1>are almost always there to side With trump's, arguments which

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<v Speaker 1>is Always alito And, thomas and Usually. Gorsig in this,

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<v Speaker 1>case it Wasn't. Gorsag it Was kavanaugh that that sided

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<v Speaker 1>With trump on this, one which is a mild. Surprise

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<v Speaker 1>he's usually a bit more of an, institutionalist And i'm mildly,

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<v Speaker 1>surprised Or gorsage is every once in a while is

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<v Speaker 1>a wild card because he does call himself a, textualist

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<v Speaker 1>and in that, sense if you are originalist or, textualist

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<v Speaker 1>whatever you want to call yourself in these sort of,

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<v Speaker 1>manufactured made up legal legal views that the Federal society

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<v Speaker 1>has created over the, years however you want to view.

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<v Speaker 1>Yourself you, Know congress has the power of the. PURSE

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<v Speaker 1>i mean this to be should have been nine to oh,

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<v Speaker 1>right and only AND i think we're seeing we're seeing

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<v Speaker 1>a bit of the partisanship of The Supreme court be

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<v Speaker 1>exposed by the three people that chose not to do.

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<v Speaker 1>This i'm looking forward to reading those discent full. DISCLOSURE

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<v Speaker 1>i haven't ready, yet they're all still being. POSTED i

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<v Speaker 1>think it's the descents are always. Interesting it's more important

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<v Speaker 1>to note what the ruling itself. Is it's notable That

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<v Speaker 1>roberts himself wrote the. Ruling so the six' three was the,

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<v Speaker 1>Three liberals Roberts, and barrett two of, the three sort

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<v Speaker 1>of the, center wing as we've seen With This, supreme

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<v Speaker 1>court but It was gorsets who joined the majority in

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<v Speaker 1>this case And. Not kavanaugh AND like, i said we've

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<v Speaker 1>been seeing sort Of A supreme court that's more divided

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<v Speaker 1>in three in that you Have The, trump conservatives which

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<v Speaker 1>Are Normally, alito thomas and in course it's not in

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<v Speaker 1>this case the Institutionalists that roberts has worked really hard

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<v Speaker 1>to try to, Have kavanon barrett on, his side and these,

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<v Speaker 1>institutionalist things so he's not the only one siding with the.

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<v Speaker 1>Three liberals and then you have the, three liberals and

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<v Speaker 1>so in, that sense we still have that basic, split

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<v Speaker 1>there but in, This case Coursu's in kavanaugh swap swap

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<v Speaker 1>there a little, bit so but it is two Of

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<v Speaker 1>the president's and pointees went. Against him and we all

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<v Speaker 1>know he personalizes. These things he thinks because he appointed

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<v Speaker 1>somebody than their job is to always abide by what.

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<v Speaker 1>He wants that's not how our system was supposed to

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<v Speaker 1>Work in this is why lifetime appointments, matter, here right

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<v Speaker 1>is if, they Didn't the president would fire members Of

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<v Speaker 1>The supreme court that voted. Against him so just a

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<v Speaker 1>reminder that some of these things that are uncomfortable that

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<v Speaker 1>some people, don't like like the, lifetime appointments it is

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<v Speaker 1>for reasons like this that you're glad that they. Do

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<v Speaker 1>exist but let's talk about the political fallout here a.

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<v Speaker 1>Little bit this, in theory could be huge news for

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<v Speaker 1>Any congressional republican who was uncomfortable defending raising taxes On

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<v Speaker 1>the american consumer because that's what these tariffs, were doing

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<v Speaker 1>and wanting to push back without alienating the. President's Base

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<v Speaker 1>supreme court has given. Them cover and so One thing

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<v Speaker 1>i'm looking to over the next seventy two to ninety

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<v Speaker 1>six hours is how many Of those republicans publicly express this,

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<v Speaker 1>relief publicly now say you know What The supreme court,

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<v Speaker 1>is right this is a Decision, of congress and, you

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<v Speaker 1>know and maybe, THEY say i would love to support

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<v Speaker 1>the president having. This authority let's bring a Bill. To

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<v Speaker 1>congress now that's that's something that would. Bog down and

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<v Speaker 1>That's what. I'm curious how is the president going to?

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<v Speaker 1>React here he's going to see if he can do

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<v Speaker 1>this without Going, to CONGRESS because i don't think he has,

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<v Speaker 1>the votes or he can try to Strong. Arm congress

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<v Speaker 1>and one thing we have learned is when he, does

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<v Speaker 1>engage he can get there might be Enough nervous republicans

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<v Speaker 1>about losing his support with the base or primary challenges

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<v Speaker 1>that they could. Go along but they would have to

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<v Speaker 1>do this under some form of a reconciliation because he

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<v Speaker 1>can't get sixty votes In. The senate it's going to

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<v Speaker 1>have a hard enough time getting fifty if he really

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<v Speaker 1>was trying to strong. Arm THIS and i, You Know

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<v Speaker 1>john thune doesn't want to vote for, Any tariffs none

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<v Speaker 1>Of the Midwestern. Republic bilicans this has been, a devastating

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<v Speaker 1>Devastating to america's. Farm economy and so That's what i'm

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<v Speaker 1>going to be looking for is How many republicans publicly

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<v Speaker 1>celebrate this ruling By The, supreme court, you know because

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<v Speaker 1>they will sort of expose themselves as sort of The

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<v Speaker 1>quiet trump opposition that didn't want to speak out until

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<v Speaker 1>they had some cover From The. Supreme court others may not, say,

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<v Speaker 1>anything right, That is normally those that are Happy that

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<v Speaker 1>trump's been rebuked usually don't want to get caught celebrating

0:10:33.240 --> 0:10:36.680
<v Speaker 1>a Rebuke, of trump fearing alienating. His base so you

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<v Speaker 1>may see a large Number of republicans try not to

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<v Speaker 1>react at all while they wait to see how dear leader.

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<v Speaker 1>Spends this but make, no mistake this is a. Huge

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<v Speaker 1>RULING it's, I LOOK i'm i always hesitate them to, speak,

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<v Speaker 1>about well how the stock market's going, to react and

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<v Speaker 1>we're one hour into Trading as i'm taping. This VIDEO

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<v Speaker 1>but i would assume the markets are going to be

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<v Speaker 1>happy and relieve on that, Front, that okay this means

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<v Speaker 1>that it's going to be harder for him to. Impose

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<v Speaker 1>tariffs so, in, theory uh, it should it should clean.

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<v Speaker 1>Things up but there's a lot of handshake. Trade deals

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<v Speaker 1>do they get? Up ended does these investments that the

0:11:22.640 --> 0:11:25.880
<v Speaker 1>president claims countries have promised to make do they get?

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<v Speaker 1>Pulled back so it doesn't. Like, everything look we're living in.

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<v Speaker 1>This incredibly just just this weekend shows you this uncertainty

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<v Speaker 1>With the we're still in the midst of a. Partial

0:11:36.480 --> 0:11:39.440
<v Speaker 1>shutdown we have more military assets In The middle east

0:11:39.440 --> 0:11:41.200
<v Speaker 1>than we've had since the start Of The. Iraq war

0:11:41.720 --> 0:11:44.800
<v Speaker 1>he really has Some informed congress exactly of what his plans.

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<v Speaker 1>Are here is he just trying to take out? Nuclear

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<v Speaker 1>sites is he trying to use this as a negotiating

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<v Speaker 1>ploy or is this the beginning of? Regime Change, and

0:11:52.800 --> 0:11:55.199
<v Speaker 1>okay what do we do after the after the first

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<v Speaker 1>few days Of? Bombing iran than? What so and here's

0:12:03.040 --> 0:12:07.160
<v Speaker 1>another THING that i think is an Intangible that i'll

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<v Speaker 1>be looking for. The more, you know this being a six'

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<v Speaker 1>To three, supreme, court ruling right it's not going to

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<v Speaker 1>be viewed as. A partisan, decision you know it's going

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<v Speaker 1>to be as a decision. About our constitution those That

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<v Speaker 1>Are non maga republicans who have been less and less,

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<v Speaker 1>Comfortable with him does this open? Up the door do

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<v Speaker 1>you start to see does to quote use my Favorite

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<v Speaker 1>Quote of harley barbara, good gets better. Bad gets worse

0:12:41.679 --> 0:12:44.960
<v Speaker 1>does losing sort of make him look more, Like a

0:12:45.000 --> 0:12:47.480
<v Speaker 1>loser and we know the president hates looking, like a

0:12:47.520 --> 0:12:50.240
<v Speaker 1>loser but he's. A loser here he is a. Huge

0:12:50.280 --> 0:12:53.680
<v Speaker 1>loser here this is a reminder that our constitution. Is

0:12:53.720 --> 0:12:58.000
<v Speaker 1>still working there are, Checks and balances and we know

0:12:58.080 --> 0:13:01.120
<v Speaker 1>he doesn't react to losing, very well well and so.

0:13:01.280 --> 0:13:05.599
<v Speaker 1>He may overreact he, may get angry he may and

0:13:05.920 --> 0:13:12.880
<v Speaker 1>it's that uncertainty that's always. Unsettling on this, but big

0:13:12.920 --> 0:13:17.199
<v Speaker 1>picture this could be a sigh of relief for a

0:13:17.240 --> 0:13:21.240
<v Speaker 1>bunch Of. Vulnerable congressional republicans i'll be curious to see,

0:13:21.320 --> 0:13:24.280
<v Speaker 1>how they react how they try to show that they're.

0:13:24.559 --> 0:13:27.640
<v Speaker 1>Happy with this there is there a middle ground they

0:13:27.640 --> 0:13:30.320
<v Speaker 1>can do that doesn't. Alienate the president how? Does he

0:13:30.400 --> 0:13:33.760
<v Speaker 1>react do they really have this backup plan? Ready to

0:13:33.800 --> 0:13:37.600
<v Speaker 1>go do they essentially bull those forward and hope there are,

0:13:37.720 --> 0:13:41.160
<v Speaker 1>more you know and essentially dare more. Lawsuits to happen

0:13:42.760 --> 0:13:45.680
<v Speaker 1>does he try to do what a normal, president would

0:13:45.679 --> 0:13:47.280
<v Speaker 1>do which is go see if you can get Your.

0:13:47.280 --> 0:13:50.000
<v Speaker 1>Authority From congress but i'll tell you this goes BACK

0:13:50.040 --> 0:13:53.040
<v Speaker 1>to and i said this very EARLY on when i

0:13:53.080 --> 0:13:57.559
<v Speaker 1>started my independent PODCAST here that i thought the entire

0:13:57.679 --> 0:14:01.440
<v Speaker 1>rollout of the first three months was just incompetent In

0:14:01.480 --> 0:14:04.800
<v Speaker 1>How this. White house ran the fact that they didn't

0:14:04.800 --> 0:14:08.480
<v Speaker 1>anticipate that them taking shortcuts was only going to make

0:14:08.520 --> 0:14:11.520
<v Speaker 1>the courts a huge impediment to them was something many.

0:14:11.559 --> 0:14:16.000
<v Speaker 1>Of us foresaw but the president had a sort of

0:14:16.200 --> 0:14:19.200
<v Speaker 1>a sixty to ninety day honeymoon period with. His own

0:14:19.240 --> 0:14:22.480
<v Speaker 1>party he had congressional Majorities, in the House. In the

0:14:22.520 --> 0:14:27.320
<v Speaker 1>senate he could have gotten A very compliant congress back

0:14:27.320 --> 0:14:30.240
<v Speaker 1>in the spring of twenty five to give. Him this

0:14:30.320 --> 0:14:33.880
<v Speaker 1>authority but he didn't. Do IT right and i think

0:14:33.920 --> 0:14:36.040
<v Speaker 1>it was because he knew there was. Some hesitance there

0:14:36.040 --> 0:14:38.720
<v Speaker 1>he knew that maybe he didn't want to risk losing

0:14:38.760 --> 0:14:41.760
<v Speaker 1>a vote where you might Have Guys like Chuck Grassley

0:14:41.800 --> 0:14:44.240
<v Speaker 1>and john thune, and you Know all these midwestern senators

0:14:44.640 --> 0:14:47.880
<v Speaker 1>going against. Him on this but he was at the

0:14:47.920 --> 0:14:52.760
<v Speaker 1>peak of his influential powers in the spring and when

0:14:52.800 --> 0:14:56.000
<v Speaker 1>he first in that first ninety days. Of his presidency

0:14:56.720 --> 0:15:00.000
<v Speaker 1>but he. Didn't do that and this is it's always

0:15:00.080 --> 0:15:02.800
<v Speaker 1>a reminder WHY it's why i sort of Reassure people

0:15:02.800 --> 0:15:07.240
<v Speaker 1>why i'm not as concerned about the long Term impact

0:15:07.320 --> 0:15:11.400
<v Speaker 1>of trump that Other people are trump is too lazy

0:15:11.720 --> 0:15:16.360
<v Speaker 1>to impose things for. The long term he's always in

0:15:16.400 --> 0:15:19.480
<v Speaker 1>a hurry to. Get a headline he's always in a

0:15:19.600 --> 0:15:23.200
<v Speaker 1>hurry to look like. He's doing something but he does

0:15:23.240 --> 0:15:26.640
<v Speaker 1>it with an executive order which can, easily be overturned

0:15:26.720 --> 0:15:29.960
<v Speaker 1>or he does it with an odd interpretation of congressional

0:15:30.000 --> 0:15:34.200
<v Speaker 1>authority which. Now got overturned and so the fact that

0:15:34.280 --> 0:15:36.800
<v Speaker 1>he didn't want to do this. The legitimate way he

0:15:36.840 --> 0:15:39.400
<v Speaker 1>was trying to find a shortcut to look like he

0:15:39.480 --> 0:15:41.800
<v Speaker 1>got early victories and that he could sort of bull those,

0:15:41.840 --> 0:15:49.360
<v Speaker 1>his way through he actually has made it a Lot

0:15:49.440 --> 0:15:54.160
<v Speaker 1>easier to this is a reminder that overturning some of

0:15:54.200 --> 0:15:59.440
<v Speaker 1>his sort of executive orders and his bad interpretations of

0:15:59.440 --> 0:16:03.680
<v Speaker 1>congressional authority are, not very difficult and so the change

0:16:03.720 --> 0:16:06.920
<v Speaker 1>he's trying to impose is going, to be actually in

0:16:06.960 --> 0:16:13.760
<v Speaker 1>some cases a lot easier to uproot because he's done

0:16:13.840 --> 0:16:18.200
<v Speaker 1>this with shortcuts in. The lazy way, but bottom line

0:16:19.280 --> 0:16:23.480
<v Speaker 1>good news for consumers and that ultimately right this is

0:16:23.760 --> 0:16:28.400
<v Speaker 1>there is a chance we could, see a flattening at

0:16:28.520 --> 0:16:30.800
<v Speaker 1>least a little bit more, of a flattening and maybe

0:16:30.840 --> 0:16:36.240
<v Speaker 1>the threat of continued inflation. Starts to abate but of

0:16:36.240 --> 0:16:40.560
<v Speaker 1>course the wild card. Is the president how, does he

0:16:40.640 --> 0:16:43.800
<v Speaker 1>react how does He try, to you know he never accepts,

0:16:43.800 --> 0:16:50.280
<v Speaker 1>losing very well and that uncertainty might table whatever potential

0:16:50.360 --> 0:16:54.800
<v Speaker 1>good news we may feel as Consumers or congressional republicans

0:16:54.800 --> 0:17:00.000
<v Speaker 1>may feel in that a bad idea might finally, be shown,

0:17:00.040 --> 0:17:04.359
<v Speaker 1>OFTEN all right i will Likely, see you monday unless

0:17:05.920 --> 0:17:09.240
<v Speaker 1>we start A war with iran a lot sooner than

0:17:09.320 --> 0:17:11.040
<v Speaker 1>many of. The experts believed