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Speaker 1: I want to talk to you though about Russell vote.

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Speaker 2: Okay, he wants.

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Speaker 1: To be the head of o MB right Office of Management,

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Speaker 1: basically in budget. This is not a position that is

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Speaker 1: high profile. It's not coveted, it's not sexy or cool. However,

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Speaker 1: this guy has made it abundantly clear he wants to

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Speaker 1: shrink the federal government and give the president a lot

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Speaker 1: more direct control over federal funding. Given what this guy

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Speaker 1: wants to do and is clearly broadcasted, should we be

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Speaker 1: paying a lot more attention to him?

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Speaker 3: Of course we should, right? I mean, and how is

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Speaker 3: like OMB.

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Speaker 1: Director is not somebody that people are like, what's he

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Speaker 1: up to today?

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Speaker 2: But shouldn't we?

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Speaker 4: I don't know.

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Speaker 5: Peter Orzag made it pretty sexy back back in the day.

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Speaker 3: Peter all right, shout out to Peter.

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Speaker 5: Look, I mean, how's he gonna how's how's he gonna

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Speaker 5: work with the great Elon Musk, who's also focused on

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Speaker 5: and and and what if you know, Vivek becomes Senator

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Speaker 5: of Ohio? Is doje going down the tubes at this point?

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Speaker 5: Is Russell Bolk?

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Speaker 1: If thet goes and becomes a senator in Ohio? That's

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Speaker 1: just Elon musk realizing you are going to do it

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Speaker 1: all about because nobody wants to be a co head

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Speaker 1: of anything.

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Speaker 4: There can never be two bosses.

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Speaker 6: You were a.

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Speaker 5: Banker, Golden saxs mist to have co eds.

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Speaker 7: One is in the end, I will say that this

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Speaker 7: restaurant thing you're mentioning, this OMB thing, this is like

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Speaker 7: the actual point of where the people we talked about

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Speaker 7: Project twenty twenty five, that they really real pages that

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Speaker 7: they want to make are coming through this guy. This

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Speaker 7: is the people that want, you know, they want to

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Speaker 7: reschedule that's what they call it, federal.

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Speaker 2: Employees and fire them for not being oil enough.

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Speaker 8: Like if we start to see some of the.

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Speaker 7: Ability some of the things that Trump has promised actually

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Speaker 7: start to happen deep inside the government, it will happen

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Speaker 7: through guys.

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Speaker 3: Like all of that.

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Speaker 9: There are people that funded Project twenty twenty five. They

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Speaker 9: have obfested interest in making sure that everything in those

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Speaker 9: nine hundred and some on pages gets implemented. And the

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Speaker 9: OMB for people who've been in government and for political junkies,

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Speaker 9: OMB is an incredibly important position because line by line,

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Speaker 9: budget item by budget item, things are going to get

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Speaker 9: funded or defunded and that's where we have to focus a.

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Speaker 3: Lot of our attention.

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Speaker 1: Let's just say Donald Trump gets all of these people through,

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Speaker 1: many of which might not be qualified for the jobs.

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Speaker 2: Then they're going to have to do these enormous.

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Speaker 3: Jobs with that they're qualified.

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Speaker 1: Possibility that they're not qualified for, and beneath them are

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Speaker 1: government employees who have been in these roles for decades

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Speaker 1: and decades and decades, and it'll be abundantly clear of

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Speaker 1: all of these administration officials can do their jobs.

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Speaker 3: Well.

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Speaker 5: Frankly, I think this is what you know Vivek and

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Speaker 5: Elon want to clear out. I think Trump wants to

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Speaker 5: clear out those decades long employees who might thwart Pete

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Speaker 5: Hegseth from doing whatever the heck he wants to do,

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Speaker 5: or paym Bondi from doing whatever the heck she wants

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Speaker 5: to do that she's really not qualified.

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Speaker 10: If you said, then done.

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Speaker 5: Yeah, but I know, I know it's easier said than done.

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Speaker 5: But they're going to make a lot of noise about

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Speaker 5: trying to get rid of these people.

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Speaker 3: There's the ultimate disruptors.

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Speaker 5: They want to disrupt everything.

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Speaker 3: Y's what they think.

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Speaker 1: They're mandated everything, And wait until they say we want

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Speaker 1: to cut Medicare, and we want to come medicaid, and

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Speaker 1: we want to get a.

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Speaker 3: Head handed to them. Might do that, and all those.

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Speaker 1: Congressmen will have to go back to their home districts

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Speaker 1: and they're going to say poundsal the vic that ain't happening.

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Speaker 11: The President has said Jack Smith should go to jail.

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Speaker 11: Will you investigate Jack Smith?

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Speaker 3: Senator?

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Speaker 6: I haven't seen the file. I haven't seen the investigation.

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Speaker 6: I haven't looked at anything. It would be irresponsible of

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Speaker 6: me to make a commitment regarding anything without you're a

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Speaker 6: long practicing attorney without looking.

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Speaker 11: At a file, So you would need a factional You

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Speaker 11: would need a factual predicate to open an investigation with

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Speaker 11: Jack Smith.

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Speaker 6: Is there not a summary by you sitting here, yes, sir.

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Speaker 11: And not a summary by the president either, right? Absolutely so,

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Speaker 11: summary by the President or his desired to investigate Jack

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Speaker 11: Smith would not be enough for you to open an

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Speaker 11: investigation of Jack Smith?

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Speaker 3: Is that right?

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Speaker 6: I will look at the facts and evidence in any

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Speaker 6: case you know, And and here sitting here, sitting here today,

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Speaker 6: Senator seven, in your department of sitting here today, sitting.

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Speaker 11: Here today, are you aware of any factual predicate to

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Speaker 11: investigate Jack Smith sitting here today?

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Speaker 6: Yes or no, Senator, I will look at the facts

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Speaker 6: and the circumstances.

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Speaker 11: You can't answer that question to You're not a part

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Speaker 11: of the department yet, there's no worry about divulging.

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Speaker 3: I'm sitting unforce sensitive ination. So just tell us.

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Speaker 2: Are you aware?

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Speaker 12: Tell us?

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Speaker 11: Are you aware of a factual predicate to investigate Jack Smith?

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Speaker 2: Yes?

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Speaker 3: Or no?

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Speaker 8: Senator?

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Speaker 6: What I'm hearing on the news?

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Speaker 4: Are you aware of a do I know you?

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Speaker 6: I have not.

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Speaker 3: You seem reluctant to answer a simple question.

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Speaker 2: This is the primal scream of a dying regime. Pray

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Speaker 2: for our enemies because we're going to medieval on these people.

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Speaker 2: There's not got a free shot. All these networks lying

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Speaker 2: about the people, the people have had a belly full

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Speaker 2: of it. I know you don't like hearing that. I

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Speaker 2: know you tried to do everything in the world to

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Speaker 2: stop that, but you're not going to stop it. It's

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Speaker 2: going to happen. And where do people like that go

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Speaker 2: to share the big line?

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Speaker 3: Mega media?

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Speaker 13: I wish in my soul, I wish that any of

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Speaker 13: these people had a conscience.

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Speaker 2: Ask yourself, what is my task and what is my purpose.

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Speaker 2: If that answer is to save my country, this country

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Speaker 2: will be saved warm use your host, Stephen K. Ban Okay,

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Speaker 2: welcome Thursday sixteenth January. E'rever lord, twenty twenty five days

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Speaker 2: of thunder have the preamble has started in and magnificent

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Speaker 2: performance so far, don't you agree, audience? You have done

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Speaker 2: an amazing job of contacting people and making sure everybody

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Speaker 2: the sends on point to get these confirmations done. But

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Speaker 2: I have to tell you, I think the flood the

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Speaker 2: zone strategy, and I think the way that the staff

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Speaker 2: from Susie to the outside people like Mike Davis and

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Speaker 2: others that prepped people and got them ready. You have

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Speaker 2: to say it's very, very impressive, incredibly impressive. Heg Seth

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Speaker 2: was great. Pam Bondi yesterday they put her through the ringer,

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Speaker 2: just incredible. We just we could have played Pam Bondi

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Speaker 2: stuff for hours. We just gave the highlight was shift.

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Speaker 2: There's more hopefully play throughout the next couple of hours.

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Speaker 2: Marco Rubio Boys. Marco Rubio made a transition from a

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Speaker 2: just a flat out neoliberal neo KHN. He wrote a

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Speaker 2: book on populism. A couple of years ago, and that

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Speaker 2: was an America first, not just simply America first, but

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Speaker 2: America first, with also a heavy emphasis on taking down

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Speaker 2: the Chinese Commuists party. Just fantastic. We want to start there.

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Speaker 2: And Stephanie Roll for the first time kind of disappointed

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Speaker 2: me saying like OMB is a non event and nobody

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Speaker 2: knows about it. Well, if you're on the inside or

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Speaker 2: if you're the war and posse audience, OMB is absolutely central.

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Speaker 2: Russ A vote is central, and RUSS was fantastic yesterday

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Speaker 2: in actually everything we got we have to have happened

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Speaker 2: a great piece in the hill today. I've got it

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Speaker 2: up on Getter. Remember Getter's totally free, just downloaded, totally free.

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Speaker 2: That is who I put up all my information. Since

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Speaker 2: I'm banned on Twitter. I guess they've formally come back

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Speaker 2: and said I can join, but I have not they

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Speaker 2: when I say formally joined a couple of weeks ago.

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Speaker 2: They did it after being banned for many years because

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Speaker 2: of doctor Fauci and Chris Ray in the election of

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Speaker 2: twenty twenty things. I'm proud of Pam Buddy saw the

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Speaker 2: angle of attack yesterday on BONDI. They came to her

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Speaker 2: and it's interesting. I kind of call it the Cash

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Speaker 2: Battel pregame. I don't know where half the question is

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Speaker 2: either about cash or things related to cash and government gangsters. Still,

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Speaker 2: if you want to know and cash is going to

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Speaker 2: come up, I don't think next week, but the week

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Speaker 2: after they're obviously they have focused on Now. I think

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Speaker 2: that Cash Battel and Tulsa Gabbert, if they're going to

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Speaker 2: get anyone, they're going to focus on those. And I

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Speaker 2: would want Cash the most, since the most concerned about

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Speaker 2: the FBI. But if you want to see, if you

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Speaker 2: haven't read the book and we make it, I think

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Speaker 2: we make the book actually more accessible in the film.

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Speaker 2: The film is the only person we have in the

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Speaker 2: film is Cash. As he walks you through government gangsters

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Speaker 2: and he walks you through his punch list of the

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Speaker 2: deep state. It's quite revealing. I think you go to

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Speaker 2: war Room Film Warroom dot film? Is that correct? Warroom

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Speaker 2: dot film? It might be war rouped dot films one

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Speaker 2: or the other. We got the film up there I

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Speaker 2: produced before going into prison. Very proud of the film.

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Speaker 2: Tremendous feedback on it. Go check it out, share it

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Speaker 2: with people because Kash's gonna be a big one. He

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Speaker 2: saw yesterday with Pam and Pam Bondi. In fact, can

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Speaker 2: we pull the clip. We pull the clip about her

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Speaker 2: in the election of twenty twenty. They came at her

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Speaker 2: every other speaker. See, they're not there to be informed,

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Speaker 2: they're not there really to kind of go through your philosophy.

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Speaker 2: I mean, Pam has been a prosecutor. Pam has been

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Speaker 2: a ran. She was Attorney General of Florida, which I

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Speaker 2: believe is the third biggest attorney general office, only back

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Speaker 2: at California and Texas. So this is a massive operation

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Speaker 2: with hundreds of lawyers doing everything from criminal prosecutions to

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Speaker 2: commercial in real estate, getting involved in commercial and real

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Speaker 2: estate enforcement of the law and also disputes. So she

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Speaker 2: has broad experience. They didn't want, they didn't know Democrat.

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Speaker 2: It's one of the reasons we focus on Democrats here

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Speaker 2: when we do these confirmation hearings. We want you to

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Speaker 2: see what the opposition's doing. And we're really proud of

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Speaker 2: the fact of how we've jobbed this last couple of

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Speaker 2: days of the Real American's Voice team. It's not that

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Speaker 2: easy to kind of cut it out and try to

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Speaker 2: get the best bits today we're gonna have Pam, and

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Speaker 2: I think Pam's starting here momentarily. Pam's day two. I

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Speaker 2: think how tough it is to be attorney General, which

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Speaker 2: I would argue is the most important, is the first

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Speaker 2: among equals of cabinet positions, because it's involved in everything.

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Speaker 2: The job of the Attorney General. I don't know how

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Speaker 2: they get to breathe. They are involved in everything. They're

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Speaker 2: gonna involved massively in immigration, massively in the not just

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Speaker 2: changing the laws, but the deportations, the security of the border.

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Speaker 2: They're involved obviously in everything in national security, law enforcement,

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Speaker 2: all of it. So Pam it's a twenty hour day,

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Speaker 2: seven day a week job, but he's got a ton

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Speaker 2: of energy and just represented her way there. What I

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Speaker 2: also like, it's unaffected. She doesn't come with that kind

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Speaker 2: of Washington you know, the veneer. These people get here

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Speaker 2: after they've been here a decade. After a decade, I mean,

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Speaker 2: she's coming, it's you're getting. That's Florida right there, right,

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Speaker 2: that's University of Florida. Yesterday, you could have had if

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Speaker 2: we had not gone fixed band nets with Pete Hexath,

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Speaker 2: you could have had Ron DeSantis. You would have had

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Speaker 2: three Floridians. And I don't know if I don't think

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Speaker 2: DeSantis went to University of Florida. I think he's a

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Speaker 2: transplant afterwards. But you had three Floridians, you would had

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Speaker 2: state Defense and Attorney General oft from player that's pretty

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Speaker 2: not pretty impressive Florida pretty impressive.

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Speaker 12: Uh.

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Speaker 2: But Pam and the University of Florida, between Marco Rubio

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Speaker 2: and Pam Bondi represented represented well. Pam was under intense pressure.

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Speaker 2: She starts back up today at ten fifteen. Then I

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Speaker 2: think Lee Zelden's going to go here in a few minutes.

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Speaker 2: EPA we do want to go. I'd love to get

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Speaker 2: his opening statement. As you know, EPA is absolutely central

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Speaker 2: to the deconstruction of the administrative state. Lee, who's really

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Speaker 2: been a specialist in I think in foreign affairs, he's

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Speaker 2: done a lot on the EPA side. I think it's

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Speaker 2: a great pick. Number one. I think is a great

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Speaker 2: pick because Lee is tough as boot leather, and you're

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Speaker 2: going to need to be over there that he will

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Speaker 2: be under siege from the inside. Always remember we had

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Speaker 2: Rob Louis on the other day from the Daily Signal

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Speaker 2: and they had done this poll that showed that fifty

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Speaker 2: percent of the apparatus, fifty percent of the bureaucrats, fifty

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Speaker 2: percent of the senior executives said not only were they

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Speaker 2: not going to go along, not only were they not

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Speaker 2: just going to slow walk things, they were going to

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Speaker 2: be actively have active resistance, active resistance to the President

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Speaker 2: Trump's policies. One of the ones that will be central

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Speaker 2: of that is EPA. EPA is like going to b

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Speaker 2: these ones that are maybe not the glamour positions or

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Speaker 2: what they call the power you know, the power departments,

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Speaker 2: which is Treasury, State, Defense, or kind of the big

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Speaker 2: three Attorney General of the Big four. Right, maybe throw

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Speaker 2: DHS in there now. But O and B I tell

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Speaker 2: people all the time, only B. I think outside of

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Speaker 2: chief of Staff of the White House, O and B

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Speaker 2: is probably the most important part of the executive because

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Speaker 2: everything comes to OMB and this is where Doze is

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Speaker 2: going to be housed. Over the EOB. They'll be next

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Speaker 2: to the O and B offices. RUSS vote yesterday was magnificent.

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Speaker 2: The Hill newspaper has an article and Grace, if you

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Speaker 2: can put it's on my getter, But Grace, I would

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Speaker 2: like to put it out for everybody in Carly Bonnet,

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Speaker 2: if you do it over at your telegram at midnight, writer,

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Speaker 2: I appreciate it. Also, Elizabeth at our telegram, everybody. It's

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Speaker 2: an article on the Hill this morning. That's quite perceptive.

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Speaker 2: It says in the hearing with for US vote yesterday,

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Speaker 2: you could understand and see where these vicious and tough

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Speaker 2: budget fights are going to come. That everything's going to

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Speaker 2: be framed in that. The House Freedom Caucuses just come

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Speaker 2: out with a proposal. It looks pretty good on one level.

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Speaker 2: I'm not terribly happy with it on another level, but

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Speaker 2: we'll talk about it in a minute. Scott Beston's aid

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Speaker 2: ten thirty. They're gonna come at Scott Best and hard.

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Speaker 2: They're are coming to him hard on trade and tariffs,

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Speaker 2: maybe the external revenue service, the way that President Trump

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Speaker 2: is reordining, rethinking through about where the cash comes from

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Speaker 2: to run this government, all of it. They're gonna come

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Speaker 2: back to Best and hard. They're gonna come up to

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Speaker 2: Lee zeldenhard. So it's gonna be Pam Bondi the last

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Speaker 2: shot they get to her. The confirmation hearings, Day three.

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Speaker 2: Our team has represented so well. I'm so proud of that.

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Speaker 2: I'm so proud of what's happening, and I'm so proud

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Speaker 2: of the transition for just getting a great job and

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Speaker 2: just representing a couple have been bumped. I think it's

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Speaker 2: smart to bump them until you're ready. Don't go until

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Speaker 2: you're ready. When you're ready, like Rubio, Hegseth Pam BONDI,

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Speaker 2: you're on point. Radcliffe magnificent short commercial break back in

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Speaker 2: the moment.

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Speaker 14: Say today, under oath without reservation, that Donald Trump lost

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Speaker 14: the presidential contest to Joe Biden in.

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Speaker 6: Twenty twenty, Ranking Member Derwin, President Biden is the President

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Speaker 6: of the United States. He was duly sworn in, and

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Speaker 6: he is the President of the United States. There was

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Speaker 6: a peaceful transition of power. President Trump left office and

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Speaker 6: was overwhelmingly elected in twenty twenty four.

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Speaker 14: Do you have any doubts that Joe Biden had the

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Speaker 14: majority of votes electoral votes necessary to be elected president

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Speaker 14: in twenty twenty.

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Speaker 6: You know, Senator, all I can tell you as a

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Speaker 6: prosecutor is from my first hand experience, and I accept

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Speaker 6: the results. I accept, of course, that Joe Biden as

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Speaker 6: President of the United States. But what I can tell

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Speaker 6: you is what I saw first hand when I went

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Speaker 6: to Pennsylvania as an advocate for the campaign. I was

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Speaker 6: an advocate for the campaign, and I was on the

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Speaker 6: ground in Pennsylvania, and I saw many things there. But

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Speaker 6: do I accept the results? Of course I do. Do

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Speaker 6: I agree with what happened, and I saw so much.

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Speaker 6: No one from either side of the aisle should want

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Speaker 6: there to be any issues with election integrity in our country.

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Speaker 6: We should all want our elections to be free and

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Speaker 6: fair and the rules and the laws to be followed.

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Speaker 14: I think that question deserved a yes or no, and

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Speaker 14: I think the length of your answer is an indication

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Speaker 14: that you weren't prepared to answer yes.

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Speaker 2: Okay, Dick Durbin, I'll give you a yes or no.

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Speaker 2: Wait for it, No, Biden is that was totally illegitimate.

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Speaker 2: You know, this is why they make such a big

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Speaker 2: deal about it. They want Pambondy, they want an official

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Speaker 2: response from MAGA. It's Pambondy. Let's jump. We're going to

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Speaker 2: jump to lee Zelden right now. Let's do it. We're

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Speaker 2: gonna come ba Epa.

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Speaker 15: Let's hit it on both sides of the isle to

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Speaker 15: tackle the most pressing issues facing our country. I humbly

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Speaker 15: sit before you nominated to serve as the seventeenth administrator

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Speaker 15: of the Environmental Protection Agency. The American people made their

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Speaker 15: voices heard in November, giving President Trump a mandate to

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Speaker 15: lead our nation to prosperity. I am grateful that the

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Speaker 15: President elect is giving me the opportunity to lead the

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Speaker 15: EPA at this critical time.

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Speaker 4: Our mission is.

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Speaker 15: Simple but essential to protect human health and the environment.

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Speaker 15: We must do everything in our power to harness the

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Speaker 15: greatness of American innovation with the greatness of American conservation

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Speaker 15: and environmental stewardship. We must ensure we are protecting the

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Speaker 15: environment while also protecting our economy.

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Speaker 4: Throughout my life, I've been privileged to.

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Speaker 15: Hold such titles as congressmen and state senator and Lieutenant colonel,

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Speaker 15: buttz none has meant more to me than husband, son,

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Speaker 15: and father.

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Speaker 4: While one of my identical twin daughters, Arianna, is.

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Speaker 15: Now back at college, I'm excited to be joined here

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Speaker 15: today by my wife, Diana and our daughter Mikayla, as

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Speaker 15: well as my mother Meryl. The American people need leaders

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Speaker 15: who can find common ground to solve the urgent issues

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Speaker 15: we face. I want my daughters, your loved ones, and

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Speaker 15: every child across our country to thrive in a world

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Speaker 15: with clean air, clean water, and boundless opportunity. If confirmed,

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Speaker 15: I pledge to enthusiastically uphold the EPA's mission. I will

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Speaker 15: foster a collaborative culture within the agency, supporting career staff

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Speaker 15: who have dedicated.

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Speaker 4: Themselves to this mission.

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Speaker 15: I strongly believe we have a moral responsibility to be

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Speaker 15: good stewards of our environment for generations to come. It's

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Speaker 15: been so motivating to see the tremendous talent stepping up

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Speaker 15: to serve in the EPA.

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Speaker 4: I couldn't be.

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Speaker 15: More excited to partner with our epaighteam nationwide to exceptionally

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Speaker 15: serve the American public. I had the honor of working

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Speaker 15: with many of you when I represented New York's first

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Speaker 15: congressional district. My district, on the eastern end of Long

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Speaker 15: Island was unique in that it was almost completely surrounded

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Speaker 15: by water. My constituents took environmental issues very seriously, and

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Speaker 15: I developed a record in Congress fighting hard and with

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Speaker 15: great success advancing their local priorities. I worked across party

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Speaker 15: lines to preserve the Long Island Sound and Plumb Island.

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Speaker 15: I supported key legislation that became historic bipartisan success stories.

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Speaker 2: It's good. It's interesting. You know, he's tossing out there

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Speaker 2: as Bona Faries is a good guy. Lee Zelden is

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Speaker 2: a good guy. The engine room informs me. The engine

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Speaker 2: room informs me that rfk's at the top of the

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Speaker 2: scalpelists they want. I think if you took it, I'd

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Speaker 2: actually begged to differ. I think I think Cash is

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Speaker 2: number one. I think rfk's number two, and number three

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Speaker 2: is Tulsi. Although they're kind of jam two and three.

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Speaker 2: The RFK may get some Democrats. That's the reason I

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Speaker 2: think it's gonna be a tough scalp There are a

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Speaker 2: couple of three Republicans that have a real problem with him,

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Speaker 2: including Judas Pence. Judas Pence put out a thing last

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Speaker 2: night that from his group saying they opposed Robert F.

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Speaker 3: Kennedy.

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Speaker 2: We want all the President's picks to get across the

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Speaker 2: goal line because the president wants his team. He's going

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Speaker 2: to get his team momentarily, Pam Bondi, So Lee's Elden's

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Speaker 2: that were going to get to Lee when they started

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Speaker 2: getting some zingers in there. It is very important for

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Speaker 2: them to crush the EPA. The head of the EPA,

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Speaker 2: because the EPA is central and kind of getting away

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Speaker 2: from a lot of this environmental bandness you see out

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Speaker 2: in California. What's the result of that. You do that

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Speaker 2: year after year after year after year, and hey, ideas

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Speaker 2: have consequences of folks. Is that terrible an appllation. We're

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Speaker 2: going to try to work with Ben Berkham trying to

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Speaker 2: put together a working group with those folks already making

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Speaker 2: calls to people that are going to be in charge

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Speaker 2: here in a couple of days to make sure that

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Speaker 2: we set that right. It makes it's disgusting what's happened there.

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Speaker 2: Colding completely forgotten and if you're back east now, it

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Speaker 2: is bitter call down there. I think this says it's

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Speaker 2: going to get to six degrees tonight or six degrees

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Speaker 2: last night. Those people are suffering and we got to

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Speaker 2: come to their aid. And yes, the personal commitments people

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Speaker 2: are making it as absolute extraordinary as usual with this

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Speaker 2: audience and with the MAGA movement overall and the American people.

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Speaker 2: But this should not be just on private charity. It

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Speaker 2: can't be on private charity. We have you know, funds,

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Speaker 2: we have you know, you pay your taxes to make

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Speaker 2: sure that they're in times of emergency. Right, it's called

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Speaker 2: the you know, FEMA. It's called emergency for a reason,

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Speaker 2: and for some reason it's abandoned. I happen to think

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Speaker 2: it's politics in Biden, right, this regime. The Daily Mail

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Speaker 2: in fact had yesterday and if Grace could be so good,

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Speaker 2: because I'm going at nine thousand miles an hour, if

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Speaker 2: Grace could pull that, I'm not so sure I even

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Speaker 2: put it up. Heyes, say, I think we just got

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Speaker 2: the the page and have time. But the Daily Mail

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Speaker 2: actually went through and talked about what we've been talking about,

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Speaker 2: how Biden's been trying to thwart President Trump at every level,

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Speaker 2: including this orders of succession, the spending of the money,

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Speaker 2: how the money's financed, things are doing at the border.

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Speaker 2: They have been united in trying to make this the

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Speaker 2: most difficult transition ever. President Trump is very upfront about that.

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Speaker 2: I think what they're doing in Ukraine obviously President Trump.

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Speaker 2: President Trump has got this deal done and gods and

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Speaker 2: now you should know it looks like it's their ceasefire

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Speaker 2: is already kind of coming apart a little bit. I think,

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Speaker 2: you know, from the Frank Gaffes of the world, the

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Speaker 2: the different folks we have in the Victory Coalition and

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Speaker 2: the guys and men and women that come on the

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Speaker 2: show and talk about they're not happy about it. They

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Speaker 2: think it's a complete capitulation Hamas they think the pressure

439
00:23:03,200 --> 00:23:07,520
Speaker 2: was put on it was not appropriate. But hey, they're

440
00:23:07,560 --> 00:23:10,280
Speaker 2: huge supporters of President Trump. President Trump wanted to cease fire,

441
00:23:10,320 --> 00:23:13,240
Speaker 2: he wanted things to calm down before he came to office,

442
00:23:13,320 --> 00:23:15,600
Speaker 2: and it looks like he tried to get it. I

443
00:23:15,600 --> 00:23:17,760
Speaker 2: think wid Cooff is very involved in that. Wikoff I

444
00:23:17,760 --> 00:23:20,840
Speaker 2: think was in Qatar and went to see bb and

445
00:23:20,920 --> 00:23:22,320
Speaker 2: kind of laid down the law. This is what's got

446
00:23:22,440 --> 00:23:24,760
Speaker 2: to be. But as we see it right now, I

447
00:23:24,760 --> 00:23:28,280
Speaker 2: think that's coming a little unwound. The same with this

448
00:23:28,520 --> 00:23:32,240
Speaker 2: Ukraine situation. Obviously, our advice in the war room and

449
00:23:32,280 --> 00:23:35,960
Speaker 2: from Ben Harnwaan everybody is that you have to come out,

450
00:23:36,160 --> 00:23:38,880
Speaker 2: I think on day one and lay down the law. Otherwise,

451
00:23:39,160 --> 00:23:41,359
Speaker 2: Kagan and these guys are showing you they're going to

452
00:23:41,400 --> 00:23:43,399
Speaker 2: try to trap President Trump. What the saying of his

453
00:23:43,440 --> 00:23:46,280
Speaker 2: traps everywhere, traps in finance, and you're going to see

454
00:23:46,280 --> 00:23:50,399
Speaker 2: that with Scott Bessen today. You saw yesterday with with

455
00:23:50,640 --> 00:23:53,040
Speaker 2: Russ vote in RUSS vote. They're trying to trap him

456
00:23:53,080 --> 00:23:56,639
Speaker 2: the entire time about spending, about cutting programs, about entitlements,

457
00:23:56,720 --> 00:24:00,200
Speaker 2: all of it. All they're doing is laying traps. They're

458
00:24:00,240 --> 00:24:02,760
Speaker 2: not there to be helpful. This is not supportive. This

459
00:24:02,800 --> 00:24:05,000
Speaker 2: is not like a transition where somebody won you come

460
00:24:05,000 --> 00:24:07,360
Speaker 2: in and say, okay, we lost you one, how can

461
00:24:07,400 --> 00:24:09,240
Speaker 2: we be helpful. It's not. It's not like that at all.

462
00:24:09,280 --> 00:24:12,359
Speaker 2: It's the exact opposite. And the Biden executive the executive branch,

463
00:24:12,760 --> 00:24:15,399
Speaker 2: and Biden has been the has been the worst of

464
00:24:15,440 --> 00:24:20,240
Speaker 2: the worst, just absolutely terrible. Today is I don't think

465
00:24:20,240 --> 00:24:23,600
Speaker 2: Pam so Pam Bonnie's up for round two. Her yesterday

466
00:24:23,720 --> 00:24:26,879
Speaker 2: was and she's going to get confirmed. She was I

467
00:24:26,880 --> 00:24:30,760
Speaker 2: think magnificent given the pressure she's under with Gates leaving. Obviously,

468
00:24:30,800 --> 00:24:34,960
Speaker 2: Gates has a different house style, much more aggressive, much

469
00:24:34,960 --> 00:24:39,919
Speaker 2: more about the investigations. The TV rights for a Gates

470
00:24:39,960 --> 00:24:43,199
Speaker 2: confirmation at at the Justice Department would have been, you know,

471
00:24:43,320 --> 00:24:46,120
Speaker 2: top five viewing for the year. Pam has a very

472
00:24:46,119 --> 00:24:49,119
Speaker 2: different style, but it was fantastic. I think she answered

473
00:24:49,119 --> 00:24:51,280
Speaker 2: all the questions and she answered them in appropriate way.

474
00:24:51,320 --> 00:24:54,359
Speaker 2: She didn't take the bait. She didn't take the bait.

475
00:24:54,440 --> 00:24:56,520
Speaker 2: And that's hard when you're sitting up there hour after

476
00:24:56,560 --> 00:24:58,800
Speaker 2: hour and they're just pounding you and you're at that

477
00:24:58,880 --> 00:25:01,040
Speaker 2: table alone because you really are.

478
00:25:01,440 --> 00:25:01,640
Speaker 6: Uh.

479
00:25:01,680 --> 00:25:04,040
Speaker 2: It just shows you. It shows you as she did

480
00:25:04,080 --> 00:25:06,720
Speaker 2: with a lot of class, a lot of style, and

481
00:25:06,840 --> 00:25:12,160
Speaker 2: uh kind of steel toughness, steel magnolia. Right, not gonna flinch,

482
00:25:12,280 --> 00:25:15,000
Speaker 2: not gonna let shifty shift get on her, not gonna

483
00:25:15,080 --> 00:25:18,280
Speaker 2: let she was barrage just like he. It was not

484
00:25:18,520 --> 00:25:21,000
Speaker 2: as nasty as he says. He says took on a

485
00:25:21,400 --> 00:25:26,080
Speaker 2: personal animosity, but particularly the female Democrat senators, they've kind

486
00:25:26,080 --> 00:25:29,320
Speaker 2: of herodines that day, just after him, after him. I

487
00:25:29,320 --> 00:25:30,840
Speaker 2: thought it was a terrible look for them. That's why

488
00:25:30,840 --> 00:25:32,320
Speaker 2: Pete's getting through. I think is one of the reasons.

489
00:25:32,400 --> 00:25:36,320
Speaker 2: Joni Ernst said, Hey, I'm all in, Uh, we've got

490
00:25:36,359 --> 00:25:38,560
Speaker 2: Scott besstt Besson. They've come up with this saying about

491
00:25:38,600 --> 00:25:41,840
Speaker 2: his taxes. They're going to hammer him on that. And look,

492
00:25:41,880 --> 00:25:45,560
Speaker 2: he's like he's like everybody the aggressive on their taxes, right,

493
00:25:45,600 --> 00:25:48,040
Speaker 2: and it's uh, he's going to get pummeled by the

494
00:25:48,040 --> 00:25:50,119
Speaker 2: Democrats and that it's all phony, it's all made up.

495
00:25:50,359 --> 00:25:52,720
Speaker 2: They're going to come after him hard on tax and tariffs,

496
00:25:52,720 --> 00:25:55,240
Speaker 2: all of it. So that'll be interesting, Lee Zelden. They're

497
00:25:55,240 --> 00:25:56,919
Speaker 2: going to get into the question is going to be brutal.

498
00:25:56,920 --> 00:26:00,240
Speaker 2: We're going to cut back and forth from them of

499
00:26:00,320 --> 00:26:03,320
Speaker 2: yours truly and I'll content, I'll put this in context

500
00:26:03,359 --> 00:26:05,560
Speaker 2: the entire time and what we saw. We get tremendous

501
00:26:05,560 --> 00:26:07,520
Speaker 2: feedback from the audience. For only one to do this,

502
00:26:08,359 --> 00:26:11,080
Speaker 2: we think it's important. It's important for the cadre and

503
00:26:11,119 --> 00:26:14,119
Speaker 2: the worm and posse to understand the angle of attack

504
00:26:14,240 --> 00:26:16,239
Speaker 2: that the Senate's going to take. Senate is obviously a

505
00:26:16,320 --> 00:26:19,480
Speaker 2: major player particularly and going forward, and you see the

506
00:26:19,520 --> 00:26:24,000
Speaker 2: Democrats and they're coming at their true colors. Birch Gold

507
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Speaker 2: is our sponsor. Really thank the team at Birch Gold

508
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Speaker 2: if you want to get in back of russ vote

509
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Speaker 2: in the dilemma he's got and you know, working through

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Speaker 2: this budget, working through the spending cuts, modern monetary theory,

511
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Speaker 2: the idea that broke the world. Now, the birch Gold

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Speaker 2: that watch and listen get it is free birch Gold

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Speaker 2: dot Com, slash bennon the end of the dollar empire

516
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517
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Speaker 2: huge Stephen K. Bath Okay, the Bircher also birch Gold.

518
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Speaker 2: You can if you've got a phone, you can text

519
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Speaker 2: Ben and be in at nine eight nine eight nine eight.

520
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Speaker 2: Make sure you do that today. Check it out. Get

521
00:27:20,760 --> 00:27:24,679
Speaker 2: all the free information. Times of Turbulence, the Hill article,

522
00:27:24,680 --> 00:27:26,520
Speaker 2: The Hill, the newspaper article. You're going to see this

523
00:27:26,600 --> 00:27:30,919
Speaker 2: in Scott bessn't today. As I've said, we've kind of

524
00:27:31,040 --> 00:27:35,320
Speaker 2: narrowed the range of alternatives from President Trump. Just reality.

525
00:27:35,640 --> 00:27:39,439
Speaker 2: This is what the Biden regime has left him. President Trump,

526
00:27:39,520 --> 00:27:41,359
Speaker 2: Let's go back to the three lines of work in

527
00:27:41,359 --> 00:27:43,119
Speaker 2: the three ways he's going to attack it. Right, you

528
00:27:43,160 --> 00:27:45,560
Speaker 2: have the three lines of work is number one, the

529
00:27:46,359 --> 00:27:50,800
Speaker 2: ending of the kinetic war. You saw just saying President

530
00:27:50,840 --> 00:27:54,359
Speaker 2: Trump's master stroke in Israel. I realized a lot of

531
00:27:54,359 --> 00:27:59,320
Speaker 2: our colleagues and contributors are not happy. They think it's

532
00:27:59,320 --> 00:28:04,480
Speaker 2: a a surrender. They didn't remove Hamas from Judea Samaria.

533
00:28:05,119 --> 00:28:08,040
Speaker 2: They are Judea and Samaria. They didn't. They didn't take

534
00:28:08,040 --> 00:28:12,040
Speaker 2: care of all the combat battalions in southern Gaza. The

535
00:28:12,080 --> 00:28:14,960
Speaker 2: war's not over. I happen to think he may become

536
00:28:15,000 --> 00:28:17,040
Speaker 2: to a ceasefire. There's going to be the thing's gonna

537
00:28:17,080 --> 00:28:20,639
Speaker 2: be reunited. It's going to be back up within ninety days.

538
00:28:22,840 --> 00:28:25,600
Speaker 2: But President Trump wanted to cease fire when the hostage returned.

539
00:28:25,600 --> 00:28:27,560
Speaker 2: He wanted that done before he got an office, because

540
00:28:27,600 --> 00:28:29,360
Speaker 2: I think he's sending the signal he's got other things

541
00:28:29,359 --> 00:28:31,960
Speaker 2: he has to focus on. He doesn't want to shoot

542
00:28:31,960 --> 00:28:34,119
Speaker 2: any war there. I'm not saying that's not going to

543
00:28:34,160 --> 00:28:36,480
Speaker 2: happen because I don't know if the ceasefire will hold.

544
00:28:37,760 --> 00:28:39,600
Speaker 2: The biggest, most important he's got to do now that

545
00:28:39,800 --> 00:28:44,160
Speaker 2: on the Third World War kinetic front is Ukraine. And

546
00:28:44,400 --> 00:28:47,680
Speaker 2: I'm a huge advocate for the President to step up

547
00:28:47,760 --> 00:28:51,000
Speaker 2: and to say on Monday and to lay out a

548
00:28:51,040 --> 00:28:54,720
Speaker 2: framework and to really tell the Ukrainians, you know, we're

549
00:28:54,720 --> 00:28:57,040
Speaker 2: going to get on with this because we're not going

550
00:28:57,120 --> 00:28:59,239
Speaker 2: to be around forever. We're not going to support this.

551
00:28:59,440 --> 00:29:01,920
Speaker 2: We're not going to send troops on a security you know,

552
00:29:02,040 --> 00:29:05,760
Speaker 2: on a security mission. They're looking for security guarantees. You

553
00:29:05,840 --> 00:29:09,920
Speaker 2: keep seeing this phrase security guarantee when you hear security

554
00:29:09,920 --> 00:29:14,400
Speaker 2: guarantee read American troops. I know they're saying now it's

555
00:29:14,400 --> 00:29:17,800
Speaker 2: gonna be NATO, it's gonna be UK. Look, those guys

556
00:29:17,880 --> 00:29:20,480
Speaker 2: won't put in the money and security guarantee. They want

557
00:29:20,480 --> 00:29:24,840
Speaker 2: our unlimited cash for weapons and for arms and for rebuilding,

558
00:29:24,960 --> 00:29:28,640
Speaker 2: and they want they want our troops. Well, people just

559
00:29:28,680 --> 00:29:32,480
Speaker 2: have to look out to California. We don't have the

560
00:29:32,560 --> 00:29:35,240
Speaker 2: money to rebuild the world that's gone. And that is

561
00:29:35,280 --> 00:29:37,800
Speaker 2: the framing yesterday in the O and B hearing with

562
00:29:38,040 --> 00:29:41,760
Speaker 2: Russ vote. Russ is very upfront and there's gotta be

563
00:29:41,800 --> 00:29:45,200
Speaker 2: some tough choices made, and they came after him NonStop,

564
00:29:45,280 --> 00:29:50,280
Speaker 2: and he really came across I think fantastic. But the

565
00:29:50,320 --> 00:29:53,920
Speaker 2: frame now is everything we can't afford it. Right, we're

566
00:29:54,000 --> 00:29:57,000
Speaker 2: essentially I don't know if we're a going concern as

567
00:29:57,040 --> 00:29:58,760
Speaker 2: far as the financing of this, because you have an

568
00:29:58,800 --> 00:30:04,280
Speaker 2: economic plan, an economic plan for the country, and that's

569
00:30:04,360 --> 00:30:06,440
Speaker 2: kind quite frank. You want to be as as close

570
00:30:06,480 --> 00:30:08,840
Speaker 2: to hands off as possible and just let it self

571
00:30:08,920 --> 00:30:11,880
Speaker 2: organize around capitalism. Yes, you do have to have some

572
00:30:11,920 --> 00:30:16,440
Speaker 2: sort of you know, regulatory apparatus. I happen to think

573
00:30:16,480 --> 00:30:18,280
Speaker 2: now that you have to the regulatory opera has got

574
00:30:18,280 --> 00:30:20,720
Speaker 2: to step in and start to break up this big

575
00:30:20,760 --> 00:30:24,120
Speaker 2: tech situation. And when Biden last night talks about oligarchs,

576
00:30:24,200 --> 00:30:28,080
Speaker 2: they created them. Let's not have a race history and

577
00:30:28,120 --> 00:30:30,000
Speaker 2: talk about this now. You know, now spending is a

578
00:30:30,000 --> 00:30:32,280
Speaker 2: big deal for them. Now these oligarch's a big deal

579
00:30:32,320 --> 00:30:33,920
Speaker 2: for them. Wasn't a big deal when they were doing it.

580
00:30:35,320 --> 00:30:38,000
Speaker 2: They're the ones that initiated this massive, over the top spending,

581
00:30:38,000 --> 00:30:40,040
Speaker 2: and people warned them about it. This show warned them

582
00:30:40,080 --> 00:30:42,480
Speaker 2: about it. People we had on the show, like Scott Bessant,

583
00:30:43,280 --> 00:30:44,960
Speaker 2: does that name sound for me? Oh yeah, he's gonna

584
00:30:44,960 --> 00:30:47,720
Speaker 2: be Secretary of Treasury? Like Russ Vote, does that name

585
00:30:47,720 --> 00:30:50,200
Speaker 2: sound for ya, He's gonna be Director of ob Peter Navara,

586
00:30:50,280 --> 00:30:52,719
Speaker 2: is that name sounding from a Oh yeah, Senior Counselor

587
00:30:52,720 --> 00:30:56,840
Speaker 2: for Trade and Manufacturing. I get it. We brought those

588
00:30:56,840 --> 00:31:00,680
Speaker 2: people on for a reason. They understand President Trump's economic

589
00:31:00,680 --> 00:31:04,560
Speaker 2: philosophy and they can implement that. But you have two things.

590
00:31:04,560 --> 00:31:07,360
Speaker 2: You have both economics and finance. They're not the same.

591
00:31:08,080 --> 00:31:13,720
Speaker 2: Economics are kind of the doing of things right, the economy, economics.

592
00:31:13,120 --> 00:31:13,200
Speaker 16: The.

593
00:31:14,840 --> 00:31:21,000
Speaker 2: Goods and services, production distribution, marketing, the animal spirits, unleashing

594
00:31:21,000 --> 00:31:25,920
Speaker 2: the entrepreneurial spirit of the American people. The other finance

595
00:31:26,000 --> 00:31:27,480
Speaker 2: is how we're actually going to pay for this. How

596
00:31:27,520 --> 00:31:29,160
Speaker 2: you're going to finance it. It's going to be equally,

597
00:31:29,200 --> 00:31:31,520
Speaker 2: it's going to be debt this government. How's it going

598
00:31:31,600 --> 00:31:35,120
Speaker 2: to be done? Where the sources of revenues? Where the

599
00:31:35,160 --> 00:31:38,600
Speaker 2: sources of proceeds, and where the uses of proceeds. One

600
00:31:38,600 --> 00:31:40,240
Speaker 2: thing I asked you all the time is look around,

601
00:31:40,280 --> 00:31:43,840
Speaker 2: thirty six trillion dollars. Where to go? Huh, where to go?

602
00:31:44,800 --> 00:31:46,800
Speaker 2: Where's your thirty six where's the thirty six tree? And

603
00:31:46,800 --> 00:31:50,400
Speaker 2: the thirty six trillion dollars? Where to go? Ask yourself?

604
00:31:50,400 --> 00:31:55,360
Speaker 2: Look around? That's the uses of proceeds, which has to

605
00:31:55,360 --> 00:31:57,720
Speaker 2: get to be We have to really start to rethink

606
00:31:57,760 --> 00:32:00,400
Speaker 2: that because we're spending a lot too more much on

607
00:32:00,560 --> 00:32:05,560
Speaker 2: operations and not enough on investment or infrastructure. The sources

608
00:32:05,560 --> 00:32:07,880
Speaker 2: of proceeds, and this is where President Trump the master

609
00:32:07,960 --> 00:32:09,600
Speaker 2: stroke is to think about it. We'll hang off for

610
00:32:09,600 --> 00:32:13,720
Speaker 2: a second. Why is it on internal revenue? Internal revenue

611
00:32:13,760 --> 00:32:15,320
Speaker 2: is just a mindset we got into at the beginning

612
00:32:15,320 --> 00:32:17,479
Speaker 2: of the twentieth century when we went away from tariffs

613
00:32:17,520 --> 00:32:19,880
Speaker 2: and went away from more of the what's called the

614
00:32:19,880 --> 00:32:24,640
Speaker 2: American system that was developed and laid out by Alexander Hamilton.

615
00:32:24,760 --> 00:32:28,760
Speaker 2: Remember we have three I say, sacred documents that came

616
00:32:28,800 --> 00:32:33,480
Speaker 2: from divine Providence at the beginning, the Decoration, Independence, the Constitution,

617
00:32:33,600 --> 00:32:37,320
Speaker 2: but also the Reporter of Manufacturers. The Reporter of Manufacturers

618
00:32:37,320 --> 00:32:41,440
Speaker 2: from Alexander Hamilton at the very beginning is inspired. If

619
00:32:41,440 --> 00:32:44,200
Speaker 2: you look there, that's as sophisticated as you could possibly

620
00:32:44,280 --> 00:32:46,800
Speaker 2: get about how to build an industrial economy out of

621
00:32:46,920 --> 00:32:51,880
Speaker 2: a wilderness. That brother had vision. And this is why

622
00:32:51,920 --> 00:32:56,120
Speaker 2: I say Hamilton with all his flaws. Remember he's a

623
00:32:56,160 --> 00:32:58,760
Speaker 2: quite imperfect instrument. You heard that before. He's a quite

624
00:32:58,800 --> 00:33:06,960
Speaker 2: imperfect instrument. But man, what a genius the American system

625
00:33:07,160 --> 00:33:08,720
Speaker 2: up until for the firs one hundred and forty years.

626
00:33:08,760 --> 00:33:10,680
Speaker 2: We financed it all from the outside. President Trump with

627
00:33:10,720 --> 00:33:13,920
Speaker 2: the External Revenue Service saying hey, I realized, but all

628
00:33:13,960 --> 00:33:16,560
Speaker 2: the burden for this apparatus, and this apparatus provides so

629
00:33:16,600 --> 00:33:18,560
Speaker 2: many benefits, not just the people in the States, but

630
00:33:18,600 --> 00:33:22,120
Speaker 2: throughout the world, like the American military commit Why is

631
00:33:22,160 --> 00:33:24,600
Speaker 2: it only the United States the paces, Yes, allies stow

632
00:33:24,680 --> 00:33:27,440
Speaker 2: some in and their specific reason. But the way I

633
00:33:27,440 --> 00:33:29,600
Speaker 2: think President Trump looks at this, is that, hey, it's

634
00:33:29,640 --> 00:33:32,880
Speaker 2: a premium seating at a football game, or a baseball game,

635
00:33:32,960 --> 00:33:36,800
Speaker 2: or a basketball game. The United States, behind the Golden door,

636
00:33:37,040 --> 00:33:39,360
Speaker 2: is the greatest, most lucrative market in the world. Why

637
00:33:39,480 --> 00:33:43,800
Speaker 2: is that because of you? Remember, you're the full faith

638
00:33:43,840 --> 00:33:46,040
Speaker 2: and credit of the United States Government. It's not the

639
00:33:46,080 --> 00:33:48,920
Speaker 2: sec it's not the Federal Reserve, it's not the US Treasury,

640
00:33:48,920 --> 00:33:52,640
Speaker 2: it's not Congress. It's you, the people. It's on your shoulders,

641
00:33:53,320 --> 00:33:54,800
Speaker 2: and now it's truly on your shoulders. One of the

642
00:33:54,840 --> 00:33:56,800
Speaker 2: reasons inflation is not going to go away is the

643
00:33:56,880 --> 00:34:01,920
Speaker 2: refinancing of this massive debt. We're just adding deficits onto

644
00:34:01,920 --> 00:34:04,080
Speaker 2: it all the time. But I think Scott Besson's got

645
00:34:04,120 --> 00:34:07,000
Speaker 2: to I think it's seven trillion dollars of government securities.

646
00:34:07,000 --> 00:34:09,799
Speaker 2: He's got a refinance. They come in at higher rates

647
00:34:09,840 --> 00:34:12,040
Speaker 2: and right now, as we told you, the ten year treasure.

648
00:34:12,080 --> 00:34:14,480
Speaker 2: I think things backed off a little bit yesterday. But

649
00:34:14,560 --> 00:34:16,640
Speaker 2: in England they kind of got the bond. Vigilantes are

650
00:34:16,640 --> 00:34:19,200
Speaker 2: in a vault. The guilt is blowing up because they

651
00:34:19,239 --> 00:34:23,239
Speaker 2: don't believe the business model of what the Brits are

652
00:34:23,239 --> 00:34:25,960
Speaker 2: putting forward and with Starmar, and the Labor Party is already.

653
00:34:25,960 --> 00:34:29,200
Speaker 2: I think they're in the high twenties of popularity. They

654
00:34:29,239 --> 00:34:31,920
Speaker 2: were not ready for for they were not ready for

655
00:34:31,920 --> 00:34:34,920
Speaker 2: short time. We have somebody ready to go. We're producing

656
00:34:34,920 --> 00:34:38,960
Speaker 2: this on the fly, starting up now. Let me know

657
00:34:39,000 --> 00:34:41,479
Speaker 2: when he gives his opening statement. Okay, we've got Scott Besser.

658
00:34:42,200 --> 00:34:45,799
Speaker 2: Pam hasn't hasn't shown up yet, Pam running a little late.

659
00:34:46,160 --> 00:34:48,000
Speaker 2: Let me tell you if leez Zelden's getting attacked by

660
00:34:48,000 --> 00:34:50,480
Speaker 2: a Democrat, will jump in there. We're gonna try to

661
00:34:50,560 --> 00:34:54,920
Speaker 2: juggle today and do all of this. The Freedom Caucus

662
00:34:54,960 --> 00:34:58,160
Speaker 2: along this line, the Freedom Caucus has put Ford a proposal.

663
00:34:59,520 --> 00:35:03,759
Speaker 2: The propos it basically says they need offsets, but they've

664
00:35:04,080 --> 00:35:07,440
Speaker 2: offered up a two year relief on the death ceiling.

665
00:35:07,920 --> 00:35:09,680
Speaker 2: Have you ever heard the death ceiling? We've ever mentioned

666
00:35:09,680 --> 00:35:13,719
Speaker 2: that on the show, maybe a couple three times. I

667
00:35:13,760 --> 00:35:15,520
Speaker 2: think the bid and the ask, I'm just saying I

668
00:35:16,640 --> 00:35:18,960
Speaker 2: think the ask is going to be I think the

669
00:35:19,040 --> 00:35:21,840
Speaker 2: aid is going to be four years. No cap, I

670
00:35:21,840 --> 00:35:25,920
Speaker 2: don't know, just saying he's gonna want exactly what exactly

671
00:35:25,920 --> 00:35:28,640
Speaker 2: what Biden got by McCarthy when macarthy got turfed out

672
00:35:28,719 --> 00:35:31,279
Speaker 2: by that the Freedom Caucus. I got to do this

673
00:35:31,280 --> 00:35:32,520
Speaker 2: in memory. It's not in front of me now and

674
00:35:32,520 --> 00:35:35,080
Speaker 2: I can't pull up my phone. But two years for

675
00:35:35,239 --> 00:35:40,840
Speaker 2: trillion dollars, two years for treeon dollars. So that's telling

676
00:35:40,840 --> 00:35:44,759
Speaker 2: you something right there. I mean that's two Hey don't

677
00:35:44,800 --> 00:35:46,680
Speaker 2: want to say we called it, but we called it

678
00:35:47,239 --> 00:35:50,319
Speaker 2: two tree and dollar deficits. The next two years they

679
00:35:50,360 --> 00:35:52,600
Speaker 2: ask him for acreaseing the This is the Freedom Caucus.

680
00:35:52,680 --> 00:35:55,080
Speaker 2: These are the biggest budget hawks out there. I think

681
00:35:55,080 --> 00:35:57,920
Speaker 2: that's right. Can I producer get it from Grace and

682
00:35:57,960 --> 00:35:59,359
Speaker 2: that's send it back to me. So it's the top

683
00:35:59,360 --> 00:36:04,319
Speaker 2: of my feet. They just put out a statement and

684
00:36:04,360 --> 00:36:06,720
Speaker 2: they want to have offsets, offsets against all the scapes.

685
00:36:06,760 --> 00:36:09,400
Speaker 2: So let me let me just step back for a second,

686
00:36:09,600 --> 00:36:13,640
Speaker 2: and how do I do this? Give a slight reality

687
00:36:13,719 --> 00:36:17,279
Speaker 2: check here. I said this at the political thing the

688
00:36:17,360 --> 00:36:20,520
Speaker 2: other day when they come up with these budgets and

689
00:36:20,560 --> 00:36:22,600
Speaker 2: all this stuff, and they're talking about we've got more

690
00:36:22,600 --> 00:36:25,959
Speaker 2: conservative wins, and I remember, McCarthy, we have more conservative

691
00:36:26,000 --> 00:36:27,920
Speaker 2: wins that we've ever had. His people, some of those

692
00:36:27,920 --> 00:36:30,200
Speaker 2: people around him called me up and said, you're missing

693
00:36:30,239 --> 00:36:32,520
Speaker 2: the point, these are more conservative wins than we ever had.

694
00:36:32,560 --> 00:36:36,000
Speaker 2: Johnson his favorite phrase, remember that debacle on the on

695
00:36:36,040 --> 00:36:39,839
Speaker 2: the fifteen hundred page cr We've got more conservative win.

696
00:36:39,880 --> 00:36:42,840
Speaker 2: I got so many conservative wins. When they use the

697
00:36:42,840 --> 00:36:47,719
Speaker 2: phrase conservative wins, they're selling you smoking mirrors. As soon

698
00:36:47,760 --> 00:36:50,440
Speaker 2: as that phrase crosses their lips, just shut down to

699
00:36:50,520 --> 00:36:52,920
Speaker 2: go no, screw you. I don't want to hear it,

700
00:36:53,200 --> 00:36:58,680
Speaker 2: because they're trying to sell you more spending now on

701
00:36:58,760 --> 00:37:01,359
Speaker 2: the Freedom Caucus when they talk about a debt ceiling lift,

702
00:37:01,360 --> 00:37:06,360
Speaker 2: and these are the most conservative guys. President Trump's not

703
00:37:06,400 --> 00:37:08,839
Speaker 2: going to say, okay, two years for trade and he's

704
00:37:08,840 --> 00:37:12,919
Speaker 2: just not going to do it. I don't think he's

705
00:37:12,920 --> 00:37:14,200
Speaker 2: just not going to do it. He's not gonna want to.

706
00:37:14,239 --> 00:37:16,200
Speaker 2: He's not going to want to constraint. I don't think.

707
00:37:17,200 --> 00:37:19,680
Speaker 2: But they're offering up two years and four trillion dollars.

708
00:37:20,040 --> 00:37:23,120
Speaker 2: That means two tree and dollars. Just simple math, that

709
00:37:23,160 --> 00:37:29,719
Speaker 2: means two trillion dollars deficit the first two years. That

710
00:37:29,760 --> 00:37:33,160
Speaker 2: implies something Number one, where's doge and I want to

711
00:37:33,200 --> 00:37:37,600
Speaker 2: get back to just process and critical passes, audiences up

712
00:37:37,640 --> 00:37:40,719
Speaker 2: to speed, so you're smart, so that you've got the

713
00:37:40,719 --> 00:37:44,640
Speaker 2: information you're going to be engaged in this fight. The

714
00:37:44,719 --> 00:37:48,960
Speaker 2: cr kicked down to March. March is the government runs

715
00:37:48,960 --> 00:37:52,359
Speaker 2: out of money again, almost halfway through the fiscal year.

716
00:37:53,360 --> 00:37:56,680
Speaker 2: Don't have a budget, don't have unappropriations that we promised

717
00:37:56,680 --> 00:37:59,720
Speaker 2: and committed that we're going to do, but forever reason

718
00:38:00,080 --> 00:38:02,120
Speaker 2: we don't have it. But March twentieth is a date.

719
00:38:03,160 --> 00:38:07,160
Speaker 2: Note to self. March twentieth is sixty days from Monday,

720
00:38:07,320 --> 00:38:10,720
Speaker 2: so two months President Trump has and we want single

721
00:38:11,000 --> 00:38:13,880
Speaker 2: subject appropriations bills to go through it, you know, chapter

722
00:38:13,920 --> 00:38:16,239
Speaker 2: and verse. Also, the DOGE guys have to merge that

723
00:38:17,200 --> 00:38:20,200
Speaker 2: the DOGE cuts can only come from a come from

724
00:38:20,200 --> 00:38:23,280
Speaker 2: an appropriations process. Other than that, it's just an exercise

725
00:38:23,320 --> 00:38:26,680
Speaker 2: in writing a white paper. It's another commission. And these

726
00:38:26,719 --> 00:38:29,799
Speaker 2: commissions go nowhere if doges have impact. And that's why

727
00:38:29,840 --> 00:38:34,440
Speaker 2: it's an advisor to guess what omb right in that

728
00:38:35,840 --> 00:38:38,560
Speaker 2: they can really put in the deconstruction the Administry of

729
00:38:38,640 --> 00:38:43,680
Speaker 2: State what they want to do. Okay, now, they promised

730
00:38:43,680 --> 00:38:47,120
Speaker 2: two trillion dollars, and their promise when they made the

731
00:38:47,120 --> 00:38:48,800
Speaker 2: two tradeon dollar cut, it was on the six and

732
00:38:48,880 --> 00:38:52,160
Speaker 2: a half trillion dollars of annual federal spending. It wasn't

733
00:38:52,160 --> 00:38:55,520
Speaker 2: a ten year They may not realize at the time,

734
00:38:55,520 --> 00:38:57,960
Speaker 2: but they were talking to two trillion dollars and President

735
00:38:57,960 --> 00:38:59,960
Speaker 2: Trump's that was two training other six and a half.

736
00:39:01,640 --> 00:39:05,160
Speaker 2: So my question is where's the beef. We want DOGE

737
00:39:05,200 --> 00:39:07,160
Speaker 2: to work in the biggest way possible. That's the way

738
00:39:07,200 --> 00:39:10,440
Speaker 2: you deconstruct the administrator state. You put a brilliant team

739
00:39:10,880 --> 00:39:14,080
Speaker 2: of very smart people that are entrepreneurs outside the system,

740
00:39:14,080 --> 00:39:16,040
Speaker 2: that can look at it new and it's not going

741
00:39:16,120 --> 00:39:18,040
Speaker 2: to come from waste fraud, Abruce, let me just do

742
00:39:18,160 --> 00:39:21,120
Speaker 2: that's a fantasy. When somebody says waste for an abuse,

743
00:39:21,320 --> 00:39:22,680
Speaker 2: they're also selling you something.

744
00:39:23,120 --> 00:39:23,359
Speaker 8: Is there.

745
00:39:23,400 --> 00:39:27,240
Speaker 2: Waste Absolutely is a duplication. Yes, is their abuse, Yes,

746
00:39:27,320 --> 00:39:31,480
Speaker 2: all of that, but that is on the margin. It's

747
00:39:31,480 --> 00:39:34,720
Speaker 2: on the margin. The problem is you're doing too much.

748
00:39:35,520 --> 00:39:38,920
Speaker 2: You're doing too much with people and even cutting bodies.

749
00:39:38,920 --> 00:39:41,040
Speaker 2: And now that you've got to cut programs, it's programs

750
00:39:41,040 --> 00:39:44,960
Speaker 2: and billets, programs and billets, programs and billets. That's what

751
00:39:45,080 --> 00:39:48,160
Speaker 2: you have to be focused on. Before you get to

752
00:39:48,239 --> 00:39:50,879
Speaker 2: the entitlements. That's a different kettle of fish. You got

753
00:39:50,880 --> 00:39:53,520
Speaker 2: to get there eventually, but you have to have buy

754
00:39:53,520 --> 00:39:56,560
Speaker 2: in by the American people. Maybe not for Medicaid that's

755
00:39:56,600 --> 00:39:58,839
Speaker 2: a different topic, but for Medicare and Social Security. You're

756
00:39:58,840 --> 00:40:00,880
Speaker 2: going to make any change you the American people have

757
00:40:00,960 --> 00:40:02,400
Speaker 2: to buy into this. The only way they're going to

758
00:40:02,440 --> 00:40:05,360
Speaker 2: buy into it is see the political class actually do

759
00:40:05,440 --> 00:40:09,040
Speaker 2: their job. Talked about doing their jobs. We need you

760
00:40:09,080 --> 00:40:12,360
Speaker 2: at the ramparts. The reason we're winning on the confirmations

761
00:40:12,520 --> 00:40:15,319
Speaker 2: Number one, they're prepared, their warriors and they're ready to go.

762
00:40:15,480 --> 00:40:18,920
Speaker 2: But you've had their back, not just heck seth. Everybody's

763
00:40:18,960 --> 00:40:21,400
Speaker 2: been magnificent. So we need you at the ramparts. To

764
00:40:21,480 --> 00:40:23,400
Speaker 2: need you the ramparts don't. We can't have you have

765
00:40:23,560 --> 00:40:27,319
Speaker 2: ans or anxiety or be your focus be taken off.

766
00:40:27,480 --> 00:40:30,279
Speaker 2: That will happen if somebody gets into your title and

767
00:40:30,320 --> 00:40:32,560
Speaker 2: takes out a massive second mortgage, like one hundred thousand

768
00:40:32,560 --> 00:40:33,799
Speaker 2: bucks and you got to pay it off, you get

769
00:40:33,800 --> 00:40:36,440
Speaker 2: no cash, you got paid off. That kind of is

770
00:40:36,480 --> 00:40:37,600
Speaker 2: more than a speed bump.

771
00:40:38,320 --> 00:40:38,799
Speaker 3: That is a.

772
00:40:40,280 --> 00:40:44,640
Speaker 2: That is a a existential threat to you. Home title

773
00:40:44,640 --> 00:40:47,040
Speaker 2: lock dot com slash ban and you get the thirty

774
00:40:47,120 --> 00:40:50,800
Speaker 2: days free. Natalie Domingus is over there. They get massive information.

775
00:40:51,000 --> 00:40:52,760
Speaker 2: Talk to one of their reps and go there today

776
00:40:52,800 --> 00:40:55,480
Speaker 2: home title lock dot com slash.

777
00:40:55,080 --> 00:41:02,040
Speaker 17: Bannon Secretary abscribe. That's why we have the hearing to

778
00:41:02,080 --> 00:41:06,759
Speaker 17: get his views. Thank you, Senator Crape. Thank you very much,

779
00:41:07,840 --> 00:41:11,560
Speaker 17: Senator Waiting. And today we are honored.

780
00:41:11,200 --> 00:41:13,400
Speaker 18: To have our good friend and colleague and now the

781
00:41:13,440 --> 00:41:17,800
Speaker 18: new Budget Committee Chairman, Senator Lindsey Graham, to help introduce

782
00:41:17,840 --> 00:41:22,000
Speaker 18: the nominee. Welcome Senator Graham from the state of the

783
00:41:22,040 --> 00:41:25,640
Speaker 18: great state of South Carolina. I want to thank you

784
00:41:25,680 --> 00:41:27,360
Speaker 18: for joining us today and I'll turn it over to

785
00:41:27,400 --> 00:41:30,800
Speaker 18: you to introduce mister bessmont Well, thank.

786
00:41:30,680 --> 00:41:32,399
Speaker 10: You, miss Chairman and ranking member.

787
00:41:32,440 --> 00:41:34,440
Speaker 16: To all my colleagues, and there are only one hundred

788
00:41:34,480 --> 00:41:37,560
Speaker 16: of us, we know each other pretty well. This is

789
00:41:37,640 --> 00:41:42,239
Speaker 16: my first appearance in the Finance Committee, probably last. You'all

790
00:41:42,280 --> 00:41:46,400
Speaker 16: work on complicated stuff, and I'm glad you like this stuff.

791
00:41:46,480 --> 00:41:49,480
Speaker 10: Seems kind of boring to me, but it's important what

792
00:41:49,560 --> 00:41:49,879
Speaker 10: you do.

793
00:41:50,280 --> 00:41:53,040
Speaker 16: And I respect the intellect of the people on this

794
00:41:53,080 --> 00:41:58,000
Speaker 16: committee because our economy needs the best minds that we

795
00:41:58,040 --> 00:42:01,120
Speaker 16: can find on the Finance Committee, and we need a

796
00:42:01,160 --> 00:42:05,480
Speaker 16: Secretary of Treasure that knows what he's doing, has to

797
00:42:05,560 --> 00:42:08,120
Speaker 16: trust to the President and loves his country.

798
00:42:08,840 --> 00:42:10,439
Speaker 10: Your ship came in with this guy.

799
00:42:11,200 --> 00:42:18,040
Speaker 16: So Scott sets from South Carolina. He's academically gifted and

800
00:42:18,160 --> 00:42:22,320
Speaker 16: real world tested. He went to Yale, so nobody's perfect.

801
00:42:23,760 --> 00:42:25,680
Speaker 16: When he told me that, I said, I don't know

802
00:42:25,719 --> 00:42:29,560
Speaker 16: about that. But anyway, he's really really smart. And this

803
00:42:29,640 --> 00:42:33,080
Speaker 16: is a complicated area. Now why am I here because

804
00:42:33,120 --> 00:42:36,399
Speaker 16: Trump won? I wouldn't be here if Trump had one

805
00:42:37,360 --> 00:42:41,560
Speaker 16: Trump one because more people voted for him and he

806
00:42:41,719 --> 00:42:47,080
Speaker 16: had to pick people to form his cabinet. And when

807
00:42:47,080 --> 00:42:51,239
Speaker 16: he talked about the Secretary of Treasury, I'm not the

808
00:42:51,400 --> 00:42:55,200
Speaker 16: normal person you would go to ask about because this

809
00:42:55,360 --> 00:42:59,439
Speaker 16: is not so much my portfolio. But when he mentioned Scott,

810
00:42:59,560 --> 00:43:03,400
Speaker 16: I said, my god, home run. From my point of view,

811
00:43:04,560 --> 00:43:09,440
Speaker 16: I mean, you're talking about somebody who's academically gifted, understands

812
00:43:09,480 --> 00:43:14,720
Speaker 16: the world Scott like any Republican president would pick Scott.

813
00:43:16,360 --> 00:43:20,400
Speaker 16: I mean, he's really understands the president and what the

814
00:43:20,440 --> 00:43:24,360
Speaker 16: president wants to do and reason I vote for almost

815
00:43:24,400 --> 00:43:31,280
Speaker 16: everybody for every president, as I believe colleagues that every

816
00:43:31,320 --> 00:43:35,160
Speaker 16: president deserves a cabinet that they know and trust and

817
00:43:35,200 --> 00:43:38,880
Speaker 16: can rely upon. If I had to vote for people

818
00:43:38,920 --> 00:43:41,280
Speaker 16: based on agreeing with him. I wouldn't vote for anybody

819
00:43:41,360 --> 00:43:45,839
Speaker 16: y'all picked. That's not the standard for me. I vote

820
00:43:45,840 --> 00:43:49,680
Speaker 16: for people who I disagree with because I think they're qualified.

821
00:43:49,719 --> 00:43:51,520
Speaker 16: So I would just ask the committee to think from me,

822
00:43:51,760 --> 00:43:55,400
Speaker 16: is this being qualified? Does he have the background and

823
00:43:55,520 --> 00:44:01,920
Speaker 16: the intelligence and the character to serve President Trump and

824
00:44:02,000 --> 00:44:04,920
Speaker 16: our nation's Secretary of Treasury. I think by any reasonable

825
00:44:06,320 --> 00:44:12,160
Speaker 16: test of qualifications, he hea exhals beyond the bare minum

826
00:44:12,360 --> 00:44:14,480
Speaker 16: to the highest level of excellence.

827
00:44:14,680 --> 00:44:15,840
Speaker 10: But that's just my opinion.

828
00:44:16,520 --> 00:44:18,640
Speaker 16: So my goal here today is tell you a little

829
00:44:18,640 --> 00:44:23,799
Speaker 16: bit about him. You've heard from the chairman about his

830
00:44:24,200 --> 00:44:30,960
Speaker 16: success in the financial world, about his academic qualifications. He

831
00:44:31,080 --> 00:44:35,239
Speaker 16: was born in Little River, South Carolina. Why did they

832
00:44:35,320 --> 00:44:40,560
Speaker 16: call it Little River because it's little and it's a river.

833
00:44:43,320 --> 00:44:46,000
Speaker 16: It's in Ora County. How many of you heard of

834
00:44:46,000 --> 00:44:49,560
Speaker 16: Myrtle Beach? Most of you, Well, this is somewhere between

835
00:44:49,640 --> 00:44:54,000
Speaker 16: Conway and Myrtle Beach. At nine years old, his first

836
00:44:54,080 --> 00:44:57,279
Speaker 16: job was to set up beach chairs and umbrellas in

837
00:44:57,400 --> 00:45:02,359
Speaker 16: North Myrtle Beach. Aparently you did well there because North

838
00:45:02,440 --> 00:45:03,560
Speaker 16: Myrtle Beach is thriving.

839
00:45:04,800 --> 00:45:06,240
Speaker 2: He went to North Myrtle Beach.

840
00:45:06,120 --> 00:45:10,440
Speaker 16: High school, and he was voted most likely to succeed

841
00:45:10,560 --> 00:45:14,719
Speaker 16: in nineteen eighty.

842
00:45:12,960 --> 00:45:18,239
Speaker 10: And we have a high school classmate of his. What

843
00:45:18,400 --> 00:45:21,239
Speaker 10: did they see in him? The same thing? I see.

844
00:45:22,520 --> 00:45:28,160
Speaker 16: Someone who really is talented and works hard and just

845
00:45:28,239 --> 00:45:31,120
Speaker 16: a good person, the type people that you think are

846
00:45:31,160 --> 00:45:38,000
Speaker 16: going to succeed, but you hope succeed. So he lives

847
00:45:38,000 --> 00:45:42,759
Speaker 16: in Charleston, in a really nice place. Going from Little

848
00:45:42,840 --> 00:45:45,120
Speaker 16: River to Charleston's about a two and a half hour drive.

849
00:45:45,200 --> 00:45:49,160
Speaker 16: But it's a real change. Since I represent Carolina, I

850
00:45:49,320 --> 00:45:54,520
Speaker 16: like them both very much. He's married John, his husband's

851
00:45:54,560 --> 00:45:58,040
Speaker 16: right behind me, and they have two kids, Carolina and Cole,

852
00:45:58,680 --> 00:46:03,080
Speaker 16: and they're absolutely adorable. And from a South Carolina point

853
00:46:03,120 --> 00:46:04,800
Speaker 16: of view, we're really proud of Scott.

854
00:46:06,320 --> 00:46:09,560
Speaker 10: I was over the top happy when President Trump.

855
00:46:09,320 --> 00:46:13,080
Speaker 16: Picked him because I know him, I know where he

856
00:46:13,160 --> 00:46:16,759
Speaker 16: came from. The rich and powerful don't live in Little River.

857
00:46:18,480 --> 00:46:23,439
Speaker 16: This is truly the American dream. This man has been

858
00:46:23,840 --> 00:46:28,600
Speaker 16: successful at everything he's ever tried to do. He's worked

859
00:46:28,719 --> 00:46:33,920
Speaker 16: really hard. And why did President Trump pick him? Because

860
00:46:33,960 --> 00:46:37,239
Speaker 16: he believes that President Trump's economic agenda is good for

861
00:46:37,320 --> 00:46:40,440
Speaker 16: this country and he wants to help President Trump be

862
00:46:40,560 --> 00:46:45,799
Speaker 16: successful and here's what Scott said. I think he's the

863
00:46:45,880 --> 00:46:51,040
Speaker 16: building of economic policy with national security. Economic policy and

864
00:46:51,160 --> 00:46:56,120
Speaker 16: national security are now indispensable. And Donald Trump understands that.

865
00:46:57,360 --> 00:46:59,279
Speaker 16: So I'm here to tell you, folks, I agree with that.

866
00:46:59,520 --> 00:47:02,759
Speaker 16: If we don't I have energy independence, we're less safe.

867
00:47:03,320 --> 00:47:05,640
Speaker 16: If we don't get our dead in order, we're less safe.

868
00:47:06,560 --> 00:47:08,880
Speaker 16: I am known around here as kind of a national

869
00:47:08,920 --> 00:47:14,640
Speaker 16: security guy, but I do understand economic policy matters. If

870
00:47:14,640 --> 00:47:17,480
Speaker 16: you want to clean up the environment, a carbon fee

871
00:47:17,520 --> 00:47:19,040
Speaker 16: seems to be a good way to do it, to

872
00:47:19,040 --> 00:47:21,480
Speaker 16: punish China and the end of her bad carbon practices.

873
00:47:21,560 --> 00:47:25,359
Speaker 16: Call it a tariff, call it whatever you want to do. So,

874
00:47:26,640 --> 00:47:32,279
Speaker 16: President Trump. One, I'm here today because one. I'm here

875
00:47:32,280 --> 00:47:36,200
Speaker 16: today because Scott lives in South Carolina. I'm here today

876
00:47:36,239 --> 00:47:40,280
Speaker 16: to tell you, if you use qualifications as your test,

877
00:47:41,239 --> 00:47:44,920
Speaker 16: this is the easiest vote you'll ever take. If your

878
00:47:45,000 --> 00:47:49,400
Speaker 16: goal is to play like the election didn't happen, and

879
00:47:49,440 --> 00:47:50,240
Speaker 16: I guess your vote.

880
00:47:50,239 --> 00:47:53,120
Speaker 10: Know, that's just where we're heading in the Senate.

881
00:47:54,640 --> 00:47:56,799
Speaker 16: When you lose an election, you get up and dust

882
00:47:56,800 --> 00:47:59,000
Speaker 16: yourself off, and you get ready for the next one.

883
00:48:00,080 --> 00:48:01,440
Speaker 10: I was honored when.

884
00:48:01,239 --> 00:48:05,120
Speaker 16: He asked me to introduce him because I know this

885
00:48:05,200 --> 00:48:10,759
Speaker 16: man and America will be in good hands if he.

886
00:48:10,800 --> 00:48:12,200
Speaker 10: Is our Secretary of Treasurer.

887
00:48:12,760 --> 00:48:16,400
Speaker 16: He deserves this job, he's qualified for this job in

888
00:48:16,480 --> 00:48:20,160
Speaker 16: President Trump, thank you for picking him on behalf of

889
00:48:20,280 --> 00:48:23,960
Speaker 16: all of us in South Carolina. We're extremely proud of you,

890
00:48:24,160 --> 00:48:25,840
Speaker 16: and we wish you will thank you.

891
00:48:27,080 --> 00:48:32,520
Speaker 18: Thank you, Senator Graham. We appreciate you giving this introduction.

892
00:48:32,760 --> 00:48:37,600
Speaker 18: And you are now excused, as is our practice, and

893
00:48:38,360 --> 00:48:40,719
Speaker 18: mister Bessant, before we turn it over to you for

894
00:48:40,800 --> 00:48:44,319
Speaker 18: your opening statement, I have four questions that we ask

895
00:48:44,400 --> 00:48:49,440
Speaker 18: all nominees who come before this committee. The first is

896
00:48:49,440 --> 00:48:51,520
Speaker 18: is there anything that you are aware of in your

897
00:48:51,560 --> 00:48:54,160
Speaker 18: background that might present a confidence in as Scott.

898
00:48:54,200 --> 00:48:56,359
Speaker 2: As soon as Scott goes, we're going to go back.

899
00:48:56,360 --> 00:48:59,959
Speaker 2: That's Lindsay Graham team up as a South Carolinian scout

900
00:49:00,040 --> 00:49:04,600
Speaker 2: that's going to give an opening statement that I think

901
00:49:04,640 --> 00:49:09,640
Speaker 2: outlines President Trump's thinking about the economy and about how

902
00:49:09,640 --> 00:49:12,960
Speaker 2: we finance it. And then he's going to take questions.

903
00:49:13,040 --> 00:49:14,600
Speaker 2: And I think this is going to get a little rough.

904
00:49:14,600 --> 00:49:17,239
Speaker 2: Today they are looked. Their angle of attack is on

905
00:49:17,320 --> 00:49:20,680
Speaker 2: Pam Bondi and on Lee Zelden, on Scott. Maybe not

906
00:49:20,760 --> 00:49:24,480
Speaker 2: as personal right as they attacked some of the other people,

907
00:49:24,520 --> 00:49:27,080
Speaker 2: but I think it's going to be pretty intense and

908
00:49:27,120 --> 00:49:29,520
Speaker 2: we want to make sure we get we get Oliver

909
00:49:29,640 --> 00:49:33,440
Speaker 2: from Scott once again. Once again, the economic team of

910
00:49:33,560 --> 00:49:36,400
Speaker 2: President Trump will be Russ voted at Owen b Scott

911
00:49:36,440 --> 00:49:40,400
Speaker 2: Besson at Treasury, Howard Leckn, who they have not scheduled

912
00:49:40,440 --> 00:49:42,239
Speaker 2: yet at Commerce is going to a lot to say

913
00:49:42,239 --> 00:49:45,719
Speaker 2: about the tariffs and the whole external revenue service. Although

914
00:49:45,719 --> 00:49:47,040
Speaker 2: I think it will be I think it's going to

915
00:49:47,080 --> 00:49:50,960
Speaker 2: be housed at Treasury, and of course Peter Navarro is not. Okay,

916
00:49:51,040 --> 00:49:53,439
Speaker 2: Scott Beston, Let's go back and here's Scott's opening state

917
00:49:54,719 --> 00:49:55,360
Speaker 2: the Treasury.

918
00:49:55,960 --> 00:49:57,960
Speaker 13: I want to thank all of you who took the

919
00:49:58,000 --> 00:49:59,000
Speaker 13: time to meet with me.

920
00:49:59,040 --> 00:50:00,240
Speaker 3: Over the past few week.

921
00:50:00,880 --> 00:50:03,120
Speaker 13: I want to thank my spouse, John Freeman, who is

922
00:50:03,120 --> 00:50:06,600
Speaker 13: here today, and my wonderful children, Cole and Caroline.

923
00:50:06,840 --> 00:50:08,640
Speaker 3: I'm not sure it's Mike Shire who.

924
00:50:08,480 --> 00:50:10,640
Speaker 13: Are sitting behind me, mister Beson, could you pull the

925
00:50:10,680 --> 00:50:15,520
Speaker 13: microphone a little closer to you who are sitting behind

926
00:50:15,560 --> 00:50:20,560
Speaker 13: me for the ultimate Civics lesson. I want to acknowledge

927
00:50:20,600 --> 00:50:24,120
Speaker 13: three people who couldn't be here today, my ninety eight

928
00:50:24,160 --> 00:50:27,359
Speaker 13: year old mother in law, Seline Freeman, a World War

929
00:50:27,840 --> 00:50:30,960
Speaker 13: Two French warbrid of an American soldier, who lives with

930
00:50:31,080 --> 00:50:35,320
Speaker 13: us in Charleston, South Carolina, making for a three generation household.

931
00:50:36,040 --> 00:50:39,279
Speaker 13: My sister Page McLeod Besson, who doesn't like crowds and

932
00:50:39,320 --> 00:50:42,799
Speaker 13: prefers the mountains of South Carolina to large cities, and

933
00:50:42,920 --> 00:50:47,440
Speaker 13: my recently deceased sister, Wynn Besson, who worked tirelessly as

934
00:50:47,440 --> 00:50:50,840
Speaker 13: a public defender in one of South Carolina's porest counties.

935
00:50:51,560 --> 00:50:54,440
Speaker 13: I also want to thank President Donald Trump for having

936
00:50:54,480 --> 00:50:57,759
Speaker 13: placed his trust and confidence in me for such an

937
00:50:57,800 --> 00:51:02,200
Speaker 13: important role in his administration. While I've met with many

938
00:51:02,239 --> 00:51:06,000
Speaker 13: of you, most Americans watching at home will be unfamiliar

939
00:51:06,040 --> 00:51:09,680
Speaker 13: with my background. I have been blessed with a fulfilling

940
00:51:09,760 --> 00:51:13,919
Speaker 13: and successful career, but my presence here today was far

941
00:51:13,960 --> 00:51:17,080
Speaker 13: from predetermined. I was born and raised in the South

942
00:51:17,120 --> 00:51:21,759
Speaker 13: Carolina Low Country. My father fell into extreme financial difficulty

943
00:51:21,880 --> 00:51:24,520
Speaker 13: when I was young. When I was nine years old,

944
00:51:24,680 --> 00:51:27,960
Speaker 13: I started working two summer jobs and I haven't stopped

945
00:51:27,960 --> 00:51:28,640
Speaker 13: working since.

946
00:51:29,360 --> 00:51:31,720
Speaker 3: I eventually made my way to Yale.

947
00:51:32,360 --> 00:51:36,560
Speaker 13: I accepted my first internship in finance because the job

948
00:51:36,640 --> 00:51:39,520
Speaker 13: came with a pullout sofa in the office to sleep on,

949
00:51:40,080 --> 00:51:44,239
Speaker 13: which allowed me to live in New York City rent free.

950
00:51:44,480 --> 00:51:47,400
Speaker 13: I've been involved in the financial markets ever since.

951
00:51:48,120 --> 00:51:49,239
Speaker 3: I've been fortunate.

952
00:51:49,040 --> 00:51:52,319
Speaker 13: Enough to work with some of the world's greatest investors

953
00:51:52,680 --> 00:51:55,800
Speaker 13: in a career that has taken me to almost sixty

954
00:51:55,840 --> 00:52:00,439
Speaker 13: countries over forty years. My life has been the only

955
00:52:00,480 --> 00:52:03,960
Speaker 13: in America's story that I am determined to preserve for

956
00:52:04,080 --> 00:52:09,960
Speaker 13: future generations. Today, I believe that President Trump has a

957
00:52:10,080 --> 00:52:15,680
Speaker 13: generational opportunity to unleash a new economic golden age that

958
00:52:15,760 --> 00:52:20,839
Speaker 13: will create more jobs, wealth, and prosperity for all Americans.

959
00:52:21,560 --> 00:52:24,520
Speaker 13: My life's work in the private sector has given me

960
00:52:24,640 --> 00:52:28,400
Speaker 13: a deep understanding of the economy and markets, and while

961
00:52:28,480 --> 00:52:32,400
Speaker 13: this experience will be invaluable in crafting economic policy, I

962
00:52:32,440 --> 00:52:34,840
Speaker 13: have belong adhered to the principle that you should know

963
00:52:34,920 --> 00:52:37,680
Speaker 13: what you don't know and lean on those who do.

964
00:52:38,400 --> 00:52:43,000
Speaker 13: Having never served in government, I intend, if confirm, to

965
00:52:43,080 --> 00:52:44,600
Speaker 13: be in close contact with.

966
00:52:44,640 --> 00:52:47,480
Speaker 3: Each of you in your offices and seek your counsel.

967
00:52:48,480 --> 00:52:52,680
Speaker 13: The Treasury Department plays a critical role in protecting American

968
00:52:52,880 --> 00:52:57,320
Speaker 13: national security. We must secure supply chains that are vulnerable

969
00:52:57,400 --> 00:53:01,680
Speaker 13: to strategic competitors, and we must care carefully deploy sanctions

970
00:53:02,000 --> 00:53:05,680
Speaker 13: as part of a whole of government approach to address

971
00:53:05,719 --> 00:53:11,360
Speaker 13: our national security requirements. And critically critically, we must ensure

972
00:53:11,400 --> 00:53:16,680
Speaker 13: that the US dollar remains the world's reserve currency. Today,

973
00:53:16,920 --> 00:53:20,920
Speaker 13: Americans face significant challenge is in an economy that has

974
00:53:20,960 --> 00:53:25,000
Speaker 13: not created enough opportunities for working men and women. We

975
00:53:25,080 --> 00:53:28,880
Speaker 13: have an affordability crisis, a housing shortage, and for the

976
00:53:28,920 --> 00:53:31,799
Speaker 13: first time in my lifetime, parents feel as though the

977
00:53:31,840 --> 00:53:35,480
Speaker 13: American dream is slipping away from their children. The federal

978
00:53:35,480 --> 00:53:40,000
Speaker 13: government has a significant spending problem, driving deficits that have

979
00:53:40,200 --> 00:53:44,680
Speaker 13: averaged an historically high seven percent of GDP during the

980
00:53:44,719 --> 00:53:48,080
Speaker 13: past four years. We must work to get our fiscal

981
00:53:48,120 --> 00:53:53,160
Speaker 13: house in order and adjust federal domestic discretionary spending that

982
00:53:53,239 --> 00:53:57,120
Speaker 13: has grown by an astonishing forty percent over the past

983
00:53:57,280 --> 00:54:03,240
Speaker 13: four years. Productive investment the grossy economy must be prioritized

984
00:54:03,600 --> 00:54:08,200
Speaker 13: over wasteful spending that drives inflation. As we begin twenty

985
00:54:08,280 --> 00:54:12,239
Speaker 13: twenty five, Americans are barrowing towards an economic crisis.

986
00:54:12,280 --> 00:54:12,880
Speaker 3: A year end.

987
00:54:13,560 --> 00:54:17,520
Speaker 13: If Congress fails to act, Americans will face the largest

988
00:54:17,560 --> 00:54:22,239
Speaker 13: tax increase in history, a crushing four trillion tax hike.

989
00:54:23,000 --> 00:54:27,920
Speaker 13: We must make permanent the twenty seventeen tax twenty seventeen

990
00:54:28,040 --> 00:54:31,600
Speaker 13: Tax Cuts and Jobs Act and implement new pro growth

991
00:54:31,640 --> 00:54:36,719
Speaker 13: policies to reduce the tax burden on American manufacturers, service workers,

992
00:54:37,040 --> 00:54:41,040
Speaker 13: and seniors. I've already spoken with several members of the Committee,

993
00:54:41,239 --> 00:54:43,760
Speaker 13: as well as leaders of the House about the best

994
00:54:43,800 --> 00:54:46,320
Speaker 13: approach to achieving these important goals.

995
00:54:46,320 --> 00:54:46,680
Speaker 3: Together.

996
00:54:47,400 --> 00:54:50,280
Speaker 13: As President Trump has said, we will unleash the American

997
00:54:50,320 --> 00:54:56,160
Speaker 13: economy by implementing pro growth regulatory policies, reducing taxes and

998
00:54:56,239 --> 00:55:00,080
Speaker 13: unleashing American energy production. The breadth and depth of our

999
00:55:00,120 --> 00:55:04,840
Speaker 13: capital markets, along with predictable pro growth tax policy and

1000
00:55:05,000 --> 00:55:09,719
Speaker 13: smart updated regulation, will continue to make America the most

1001
00:55:09,719 --> 00:55:13,880
Speaker 13: popular destination in the world for starting, growing, and taking

1002
00:55:13,920 --> 00:55:17,920
Speaker 13: public a business. And as we rebuild our economy and

1003
00:55:18,000 --> 00:55:21,720
Speaker 13: lay the foundation for the next generation of American competitiveness,

1004
00:55:22,080 --> 00:55:25,319
Speaker 13: we must use all the tools available to realign the

1005
00:55:25,400 --> 00:55:30,640
Speaker 13: economic system to better serve the interest of working Americans.

1006
00:55:31,040 --> 00:55:35,360
Speaker 13: For too long, our nation has allowed unfair distortions in

1007
00:55:35,400 --> 00:55:39,840
Speaker 13: the international trading system. President Trump was the first president

1008
00:55:39,960 --> 00:55:44,120
Speaker 13: in modern times to recognize the need to change our

1009
00:55:44,200 --> 00:55:48,560
Speaker 13: trade policy and stand up for American workers if confirmed,

1010
00:55:49,200 --> 00:55:52,200
Speaker 13: I look forward to working with President Trump and members

1011
00:55:52,200 --> 00:55:53,719
Speaker 13: of this Committee.

1012
00:55:53,320 --> 00:55:54,080
Speaker 3: To do just that.

1013
00:55:55,000 --> 00:55:57,839
Speaker 13: Members of the Committee, these are just some of many

1014
00:55:57,880 --> 00:56:00,440
Speaker 13: important goals that President Trump has laid out for me

1015
00:56:00,960 --> 00:56:03,040
Speaker 13: and others on his economic team.

1016
00:56:03,520 --> 00:56:04,680
Speaker 3: I firmly believe that.

1017
00:56:04,640 --> 00:56:07,920
Speaker 13: If confirmed, and with your counsel and support, we can

1018
00:56:08,040 --> 00:56:10,480
Speaker 13: usher in a new, more balanced era.

1019
00:56:10,320 --> 00:56:12,520
Speaker 3: Of prosperity that will lift.

1020
00:56:12,320 --> 00:56:16,280
Speaker 13: Up all Americans and rebuild communities and families across the country.

1021
00:56:16,840 --> 00:56:20,200
Speaker 13: I humbly thank you for your consideration and am eager

1022
00:56:20,239 --> 00:56:21,600
Speaker 13: to take your questions.

1023
00:56:22,960 --> 00:56:24,000
Speaker 3: Thank you, mister Bessan.

1024
00:56:24,800 --> 00:56:28,040
Speaker 18: Before I begin my questions, I want to reemphasize how

1025
00:56:28,200 --> 00:56:31,239
Speaker 18: appreciative I am of your diligence in the process that

1026
00:56:31,280 --> 00:56:35,080
Speaker 18: we've gone through vetting here in this Senate. I appreciate

1027
00:56:35,120 --> 00:56:38,800
Speaker 18: the more than three thousand pages of supporting material you've provided,

1028
00:56:38,840 --> 00:56:41,520
Speaker 18: as well as the countless hours you and your staff

1029
00:56:41,560 --> 00:56:46,160
Speaker 18: have offered to respond to questions from members of this committee.

1030
00:56:46,800 --> 00:56:50,480
Speaker 18: Let me be clear, you followed all of the applicable

1031
00:56:50,560 --> 00:56:54,680
Speaker 18: law and met the Committee's long standing diligence standard. Your

1032
00:56:54,719 --> 00:56:58,200
Speaker 18: process matched that which has applied to nominees in every

1033
00:56:58,360 --> 00:56:59,720
Speaker 18: previous administration.

1034
00:57:02,400 --> 00:57:03,799
Speaker 2: I want to go in my.

1035
00:57:03,840 --> 00:57:07,719
Speaker 18: First question to you to the Tax Cuts and Jobs Act,

1036
00:57:07,840 --> 00:57:11,160
Speaker 18: which Senator Widen and I have both mentioned already, and

1037
00:57:11,200 --> 00:57:16,640
Speaker 18: you've mentioned in your remarks. The attack on this statute,

1038
00:57:16,960 --> 00:57:19,840
Speaker 18: this law, which is law I remind everybody is the

1039
00:57:19,920 --> 00:57:23,440
Speaker 18: law now it was passed in twenty seventeen, is that

1040
00:57:23,480 --> 00:57:27,280
Speaker 18: it was a tax cut for the wealthy. I appreciate you,

1041
00:57:27,360 --> 00:57:30,480
Speaker 18: mister Bessett, noting that it will be a four plus

1042
00:57:30,520 --> 00:57:34,479
Speaker 18: trillion dollar tax increase if we do not extend this law.

1043
00:57:35,520 --> 00:57:37,320
Speaker 18: And a point that I would remind all of my

1044
00:57:37,440 --> 00:57:41,280
Speaker 18: colleagues is that if that four plus trillion dollar tax

1045
00:57:41,360 --> 00:57:46,440
Speaker 18: increase happens, it's not just going to be something that

1046
00:57:46,480 --> 00:57:50,840
Speaker 18: impacts the wealthy. Is two point six trillion of it,

1047
00:57:51,720 --> 00:57:55,560
Speaker 18: The majority of it falls on people who make less

1048
00:57:55,960 --> 00:58:02,680
Speaker 18: four hundred thousand dollars. For a family two taxpayers for

1049
00:58:02,960 --> 00:58:07,000
Speaker 18: under four hundred thousand dollars per year. That's the number

1050
00:58:07,040 --> 00:58:10,520
Speaker 18: that President Biden chose to say he wanted to protect it.

1051
00:58:10,680 --> 00:58:13,640
Speaker 18: Two point six trillion of this tax cut hits those

1052
00:58:13,680 --> 00:58:19,040
Speaker 18: making less than four hundred thousand dollars. Moreover, massive amounts

1053
00:58:19,040 --> 00:58:22,800
Speaker 18: of it hit pass through entities small businesses across this

1054
00:58:22,880 --> 00:58:25,880
Speaker 18: country This is not a tax cut for the wealthy

1055
00:58:25,920 --> 00:58:26,960
Speaker 18: that we are talking about.

1056
00:58:27,080 --> 00:58:29,320
Speaker 8: It is a tax increase on.

1057
00:58:29,440 --> 00:58:32,560
Speaker 18: All Americans, the majority of whom are in the lower

1058
00:58:32,640 --> 00:58:37,880
Speaker 18: end middle income categories. My question to you is one

1059
00:58:37,880 --> 00:58:40,480
Speaker 18: of our pivotal tax is to make sure that this

1060
00:58:40,640 --> 00:58:45,960
Speaker 18: tax increase does not happen. Can you give us your

1061
00:58:46,040 --> 00:58:50,120
Speaker 18: perspective on the impact that would occur in this country

1062
00:58:50,160 --> 00:58:54,080
Speaker 18: if we allowed this four trillion dollar tax increase to happen.

1063
00:58:56,880 --> 00:59:01,320
Speaker 13: Senator, Senator Crapo, thank you for this and thank you

1064
00:59:02,200 --> 00:59:05,200
Speaker 13: for the meetings over the past few weeks. I've enjoyed

1065
00:59:05,240 --> 00:59:08,920
Speaker 13: working with your staff. And this is the single most

1066
00:59:08,960 --> 00:59:11,760
Speaker 13: important economic issue of the day.

1067
00:59:12,160 --> 00:59:15,520
Speaker 3: This is past fail that if we do not.

1068
00:59:17,320 --> 00:59:22,600
Speaker 13: Fix these tax cuts, if we do not renew and extent,

1069
00:59:23,680 --> 00:59:28,959
Speaker 13: then we will be facing an economic calamity. And as

1070
00:59:29,000 --> 00:59:34,960
Speaker 13: always with financial instability that falls on the middle and

1071
00:59:35,040 --> 00:59:39,800
Speaker 13: working class people, we will see a gigantic middle class

1072
00:59:39,920 --> 00:59:44,680
Speaker 13: tax increase. We will see the child tax credit halt,

1073
00:59:45,320 --> 00:59:50,800
Speaker 13: we will see the deductions halved. So it will be

1074
00:59:51,200 --> 00:59:53,680
Speaker 13: what we call an economics. It has the potential for

1075
00:59:53,840 --> 00:59:59,520
Speaker 13: a sudden stop. And as I said, traditionally, with these

1076
00:59:59,640 --> 01:00:03,360
Speaker 13: sudden and stops, it falls on working Americans.

1077
01:00:04,160 --> 01:00:07,080
Speaker 18: Thank you, And I would just say to you you

1078
01:00:07,120 --> 01:00:09,400
Speaker 18: may be aware of this, but the Tax Foundation has

1079
01:00:09,440 --> 01:00:16,120
Speaker 18: indicated that if we do sustain these tax cuts and

1080
01:00:16,240 --> 01:00:20,600
Speaker 18: protect them from expiring and stop this tax increase, that

1081
01:00:20,680 --> 01:00:25,360
Speaker 18: the extension of this policy would increase the growth of

1082
01:00:25,680 --> 01:00:28,440
Speaker 18: the GDP in the United States by one point one

1083
01:00:28,520 --> 01:00:31,360
Speaker 18: percent over time. Similarly, and I don't know how they

1084
01:00:31,360 --> 01:00:34,360
Speaker 18: came up with the same number, but the National Association

1085
01:00:34,480 --> 01:00:39,360
Speaker 18: of Manufacturers indicates that if we don't extend this tax relief,

1086
01:00:40,120 --> 01:00:44,720
Speaker 18: that there will be a one point one percent reduction

1087
01:00:45,680 --> 01:00:53,800
Speaker 18: in growth of jobs and development in our economy. It

1088
01:00:53,880 --> 01:00:56,480
Speaker 18: seems to me that as we are talking about what

1089
01:00:56,640 --> 01:01:02,040
Speaker 18: to do for America, that protecting America from a one

1090
01:01:02,080 --> 01:01:07,360
Speaker 18: percent reduction versus a one percent growth in GDB is

1091
01:01:07,640 --> 01:01:10,760
Speaker 18: a critical objective. Could you just give a little bit

1092
01:01:10,800 --> 01:01:13,640
Speaker 18: of perspective. I know you just answered this question in

1093
01:01:13,680 --> 01:01:15,760
Speaker 18: another context, but could you just give a little bit

1094
01:01:15,800 --> 01:01:20,000
Speaker 18: more perspective on those kinds of dynamics. And I'm sorry,

1095
01:01:20,040 --> 01:01:22,360
Speaker 18: I'm going to try to keep the five minutes, and

1096
01:01:22,440 --> 01:01:24,640
Speaker 18: we've only got about fifteen seconds left of mine, and

1097
01:01:24,680 --> 01:01:26,520
Speaker 18: I want to be sure everybody else stays on time,

1098
01:01:26,560 --> 01:01:27,240
Speaker 18: so I will too.

1099
01:01:27,240 --> 01:01:28,880
Speaker 3: Could you quickly respond well.

1100
01:01:29,000 --> 01:01:31,360
Speaker 13: Senator, I would just say that we saw the power

1101
01:01:31,400 --> 01:01:35,720
Speaker 13: of these tax cuts in eighteen nineteen and going into

1102
01:01:36,680 --> 01:01:40,800
Speaker 13: January of twenty before they were interrupted by COVID and

1103
01:01:40,880 --> 01:01:42,560
Speaker 13: the great success that we had.

1104
01:01:43,720 --> 01:01:46,760
Speaker 2: Thank you, Senator Widen, thank.

1105
01:01:46,560 --> 01:01:47,120
Speaker 8: You very much.

1106
01:01:47,440 --> 01:01:49,360
Speaker 17: With Sherman, let me say to the nominee, I've got

1107
01:01:49,400 --> 01:01:51,880
Speaker 17: four questions and I'm going to ask, and if we

1108
01:01:51,960 --> 01:01:54,000
Speaker 17: both can keep it brief, I think we can get

1109
01:01:54,040 --> 01:01:55,920
Speaker 17: to all of them, because I think can really frame

1110
01:01:56,080 --> 01:01:58,680
Speaker 17: for us what the debate is all about. I'm going

1111
01:01:58,720 --> 01:02:03,320
Speaker 17: to start by talking about the future of direct File.

1112
01:02:04,160 --> 01:02:08,080
Speaker 17: This is the program that helps our people who choose

1113
01:02:08,120 --> 01:02:12,000
Speaker 17: it to save hundreds of dollars when they file their

1114
01:02:12,120 --> 01:02:15,960
Speaker 17: tax return. Last year, the IRS launched it. It was

1115
01:02:16,120 --> 01:02:21,520
Speaker 17: enormously popular among taxpayers, but of course the tax software

1116
01:02:21,640 --> 01:02:24,240
Speaker 17: giants and their big lobby just hate it.

1117
01:02:24,360 --> 01:02:25,640
Speaker 8: They want to shut it down.

1118
01:02:26,440 --> 01:02:26,680
Speaker 3: Now.

1119
01:02:26,720 --> 01:02:31,600
Speaker 17: The filing season starts January twenty seven, so it opens

1120
01:02:31,640 --> 01:02:34,720
Speaker 17: in ten days, and millions of taxpayers around the country

1121
01:02:35,240 --> 01:02:37,680
Speaker 17: have already been notified that they are going to be

1122
01:02:37,760 --> 01:02:39,640
Speaker 17: eligible to use.

1123
01:02:39,560 --> 01:02:41,080
Speaker 8: Direct file this year.

1124
01:02:41,840 --> 01:02:44,800
Speaker 17: So I won't do this for every question, but I'd

1125
01:02:44,840 --> 01:02:49,040
Speaker 17: really like a yes or no on this one. Will

1126
01:02:49,120 --> 01:02:54,320
Speaker 17: you commit to keeping direct file up and run up

1127
01:02:54,320 --> 01:02:54,880
Speaker 17: and running.

1128
01:02:55,200 --> 01:02:59,160
Speaker 8: If you're confirmed, I.

1129
01:02:59,160 --> 01:03:03,880
Speaker 13: Will commit that for this tax season the direct file

1130
01:03:04,120 --> 01:03:08,720
Speaker 13: will be operative and the American taxpayers who choose to

1131
01:03:08,840 --> 01:03:13,400
Speaker 13: use it will and if confirmed, I will consult and

1132
01:03:13,560 --> 01:03:18,400
Speaker 13: study the program and understand it better and make sure

1133
01:03:18,480 --> 01:03:23,439
Speaker 13: that it works to serve the IRS's three goals of collections,

1134
01:03:24,880 --> 01:03:26,880
Speaker 13: customer service, and privacy.

1135
01:03:27,680 --> 01:03:29,440
Speaker 8: I appreciate the answer.

1136
01:03:29,880 --> 01:03:33,440
Speaker 17: It means that taxpayers are going to save choose to

1137
01:03:33,520 --> 01:03:36,560
Speaker 17: use it because it's voluntary, hundreds of dollars, and we'll

1138
01:03:36,560 --> 01:03:40,080
Speaker 17: have a chance to see once again how popular it

1139
01:03:40,160 --> 01:03:43,760
Speaker 17: is with practically everybody except the tax prep software crowd.

1140
01:03:44,560 --> 01:03:48,880
Speaker 17: Onto tariffs, Donald Trump, with no plan and no strategy,

1141
01:03:49,040 --> 01:03:53,440
Speaker 17: says he's going to put across the board tariffs, blanket

1142
01:03:53,560 --> 01:03:58,880
Speaker 17: tariffs on all important goods, which means that our workers

1143
01:03:58,920 --> 01:04:01,440
Speaker 17: and our small business is they're going to get clobbered

1144
01:04:02,280 --> 01:04:06,600
Speaker 17: with additional taxes on practically everything they buy from other countries.

1145
01:04:07,240 --> 01:04:13,440
Speaker 17: My question here is who would pay these arrrafts, Americans

1146
01:04:13,560 --> 01:04:14,640
Speaker 17: or foreign countries.

1147
01:04:15,840 --> 01:04:22,680
Speaker 13: So this Senator widen just to understand so I can

1148
01:04:22,720 --> 01:04:23,960
Speaker 13: frame the answer correctly.

1149
01:04:25,040 --> 01:04:30,320
Speaker 3: Do you believe that these tariffs are a consumption tax increase?

1150
01:04:31,000 --> 01:04:34,640
Speaker 17: I believe these tariffs. You can call it whatever you want.

1151
01:04:34,800 --> 01:04:37,959
Speaker 17: Try in terms of trying to gussie it up, they're

1152
01:04:38,040 --> 01:04:39,440
Speaker 17: going to be paid for by.

1153
01:04:39,320 --> 01:04:41,200
Speaker 8: Our workers and small businesses.

1154
01:04:41,520 --> 01:04:43,720
Speaker 17: All through the campaign we heard they weren't that foreign

1155
01:04:43,760 --> 01:04:46,000
Speaker 17: countries were going to pay it. I think it's blogoney.

1156
01:04:46,280 --> 01:04:49,160
Speaker 17: It's going to be paid for by workers and small businesses.

1157
01:04:49,640 --> 01:04:55,640
Speaker 13: So your response, yes, Senator, I would respectfully disagree. And

1158
01:04:56,120 --> 01:05:01,200
Speaker 13: the history of tariffs and tariff theory, optimal tariff theory,

1159
01:05:01,280 --> 01:05:02,880
Speaker 13: does not support what you're saying.

1160
01:05:03,440 --> 01:05:05,720
Speaker 3: Traditionally, we see.

1161
01:05:05,600 --> 01:05:08,440
Speaker 13: That the current if we were to say, use a

1162
01:05:08,520 --> 01:05:11,320
Speaker 13: number that has been thrown around in the press of

1163
01:05:11,400 --> 01:05:16,960
Speaker 13: ten percent, then traditionally the currency appreciates by four percent,

1164
01:05:17,640 --> 01:05:21,120
Speaker 13: so the ten percent has not passed through. Then we

1165
01:05:21,280 --> 01:05:29,160
Speaker 13: have various elasticities, consumer preferences may change, and finally, foreign manufacturers,

1166
01:05:29,520 --> 01:05:33,800
Speaker 13: especially China, especially China which is trying to export their

1167
01:05:33,840 --> 01:05:39,920
Speaker 13: way out of their current economic malaise, they will continue

1168
01:05:39,960 --> 01:05:42,360
Speaker 13: cutting prices to maintain market share.

1169
01:05:43,280 --> 01:05:45,240
Speaker 8: That's an academic view of it.

1170
01:05:45,720 --> 01:05:48,960
Speaker 17: But what I know is the history of this is

1171
01:05:49,000 --> 01:05:53,439
Speaker 17: it clobbers people of modest means, there are the people who.

1172
01:05:53,400 --> 01:05:54,120
Speaker 8: Are going to get hit.

1173
01:05:54,160 --> 01:05:56,640
Speaker 17: And all through the campaign there was a big show

1174
01:05:56,680 --> 01:05:57,880
Speaker 17: that was going to be paid.

1175
01:05:57,680 --> 01:05:58,600
Speaker 8: For by foreigners.

1176
01:05:58,640 --> 01:06:02,480
Speaker 17: Not so Two other questions that I want to get in,

1177
01:06:03,040 --> 01:06:06,720
Speaker 17: and I already made it clear, and you and I

1178
01:06:06,800 --> 01:06:09,480
Speaker 17: talked about this. I'm for a tax code that gives

1179
01:06:09,560 --> 01:06:13,080
Speaker 17: everybody the opportunity to get ahead. You and I talked

1180
01:06:13,080 --> 01:06:15,760
Speaker 17: about my friend Bill Bradley, and I've been working for

1181
01:06:15,840 --> 01:06:17,080
Speaker 17: this for years.

1182
01:06:17,560 --> 01:06:19,240
Speaker 8: Do you believe the tax.

1183
01:06:18,960 --> 01:06:23,400
Speaker 17: Code should treat wages differently than it treats wealth.

1184
01:06:26,160 --> 01:06:32,760
Speaker 13: That look in any tax system that advantages and creates distortions,

1185
01:06:33,640 --> 01:06:38,560
Speaker 13: it is a change that Senator, it is a decision

1186
01:06:39,040 --> 01:06:41,640
Speaker 13: that was made when the tax codes were written.

1187
01:06:42,520 --> 01:06:45,400
Speaker 3: And so every tax codes.

1188
01:06:45,840 --> 01:06:53,280
Speaker 13: Involves the trade offs and distortions in favor of other.

1189
01:06:55,400 --> 01:06:56,200
Speaker 3: The games.

1190
01:06:56,320 --> 01:06:59,240
Speaker 17: It sounds to me like you do believe that it's

1191
01:06:59,280 --> 01:07:05,280
Speaker 17: fine to eat wealth more favorably. I couldn't disagree more

1192
01:07:05,400 --> 01:07:07,720
Speaker 17: the idea that a dollar earned by a hedge fund

1193
01:07:07,720 --> 01:07:10,040
Speaker 17: manager has more value than a dollar earned by.

1194
01:07:09,960 --> 01:07:12,000
Speaker 8: A teacher or a factory worker.

1195
01:07:12,280 --> 01:07:15,240
Speaker 17: I just think it's a disconnect with the American people.

1196
01:07:15,280 --> 01:07:18,240
Speaker 17: One last question, and that is about the legislation that

1197
01:07:18,320 --> 01:07:21,920
Speaker 17: was written in this room that was the biggest transformation

1198
01:07:22,080 --> 01:07:26,400
Speaker 17: on clean energy in American history. That is our package

1199
01:07:26,400 --> 01:07:28,920
Speaker 17: that basically said the tax code as it relates to

1200
01:07:29,040 --> 01:07:32,720
Speaker 17: energy is a broken down mess, and we basically said

1201
01:07:32,760 --> 01:07:35,760
Speaker 17: we're going to have a technology neutral system. The more

1202
01:07:35,800 --> 01:07:39,360
Speaker 17: you reduce carbon, the bigger your tax savings. Now there

1203
01:07:39,600 --> 01:07:43,040
Speaker 17: is a big effort in the Trump administration to reverse it.

1204
01:07:43,320 --> 01:07:45,360
Speaker 17: I think that's going to be bad for the economy,

1205
01:07:45,480 --> 01:07:47,560
Speaker 17: but it is going to be damn good for China

1206
01:07:47,640 --> 01:07:49,960
Speaker 17: because we are in an arms race and clean energy

1207
01:07:50,000 --> 01:07:51,959
Speaker 17: with them. Are you going to be on the side

1208
01:07:52,000 --> 01:07:53,680
Speaker 17: of people who want to unravel this?

1209
01:07:55,440 --> 01:08:00,720
Speaker 13: Senator, the senator wife, Just so you can frame this

1210
01:08:00,840 --> 01:08:04,640
Speaker 13: for everyone in the room, China will build a hundred

1211
01:08:04,920 --> 01:08:08,240
Speaker 13: new coal plants this year. There is not a clean

1212
01:08:08,320 --> 01:08:12,240
Speaker 13: energy race. There is an energy race. China will build

1213
01:08:12,440 --> 01:08:17,000
Speaker 13: ten nuclear plants this year. That is not solar. I

1214
01:08:17,000 --> 01:08:21,840
Speaker 13: am in favor of more nuclear plants, and I would

1215
01:08:21,880 --> 01:08:28,160
Speaker 13: note that the IRA as scored by the CBO, is

1216
01:08:28,400 --> 01:08:31,560
Speaker 13: wildly out of control in terms of spending on the upside.

1217
01:08:31,640 --> 01:08:34,880
Speaker 17: Well, first of all, the Clean Energy Package does protect

1218
01:08:35,040 --> 01:08:37,720
Speaker 17: nuclear because members on both sides in the island just

1219
01:08:37,720 --> 01:08:39,519
Speaker 17: from wanted it to be that way.

1220
01:08:39,800 --> 01:08:40,799
Speaker 8: But if you're going to talk.

1221
01:08:40,680 --> 01:08:43,960
Speaker 17: About fossils, the United States has achieved a greater level

1222
01:08:44,000 --> 01:08:47,080
Speaker 17: of energy security than we've had in generations. Oil and

1223
01:08:47,160 --> 01:08:50,240
Speaker 17: gas production is a record highs and it's not just that,

1224
01:08:50,680 --> 01:08:54,120
Speaker 17: but it's about clean energy. And I'm very troubled by

1225
01:08:54,160 --> 01:08:57,200
Speaker 17: your position denying that we're in an arms race with

1226
01:08:57,320 --> 01:08:59,800
Speaker 17: China and clean energy, because we definitely aren't.

1227
01:08:59,800 --> 01:09:01,439
Speaker 3: Thanks we do need to move on.

1228
01:09:02,280 --> 01:09:05,000
Speaker 18: And I told Senator White and he could have those

1229
01:09:05,000 --> 01:09:07,200
Speaker 18: four questions, but I want to remind everybody else we've

1230
01:09:07,200 --> 01:09:11,000
Speaker 18: got a five minute time when he deserved those extra questions.

1231
01:09:11,640 --> 01:09:15,599
Speaker 2: Senator Grassling, mister congratulations.

1232
01:09:16,200 --> 01:09:18,640
Speaker 12: I want to start out with where you and I

1233
01:09:18,760 --> 01:09:22,600
Speaker 12: talked about something in my office, and you remember that

1234
01:09:22,760 --> 01:09:25,719
Speaker 12: tongue in cheek comment I made to you that you're

1235
01:09:25,800 --> 01:09:28,280
Speaker 12: going to be asked by the Chairman. We answer all

1236
01:09:28,320 --> 01:09:31,800
Speaker 12: of our letters, and everybody that comes to the Hill

1237
01:09:31,920 --> 01:09:35,680
Speaker 12: says yes they're going to and I said, maybe you

1238
01:09:35,760 --> 01:09:40,400
Speaker 12: better say maybe because most people don't keep that promise.

1239
01:09:40,920 --> 01:09:43,120
Speaker 12: So I just want to remind you if I write

1240
01:09:43,160 --> 01:09:47,040
Speaker 12: you a letter on my oversight responsibilities. I'd appreciate it

1241
01:09:47,080 --> 01:09:49,360
Speaker 12: if you'd answer now to my first question.

1242
01:09:50,600 --> 01:09:54,240
Speaker 8: My colleagues believe you're going to put that up.

1243
01:09:54,680 --> 01:09:59,720
Speaker 12: My Democrat colleagues believe the only solution to our unsustainable

1244
01:10:00,280 --> 01:10:04,880
Speaker 12: deficit is higher tax rates on and that ends up

1245
01:10:04,920 --> 01:10:09,759
Speaker 12: being on job creators and families alike. However, history proves

1246
01:10:09,800 --> 01:10:16,320
Speaker 12: that high tax rates fail to raise significant revenues. Taxpayers, workers,

1247
01:10:16,360 --> 01:10:20,960
Speaker 12: and investors are smarter than that, In other words, are

1248
01:10:20,960 --> 01:10:24,120
Speaker 12: smarter than we in Congress that thinks that at one

1249
01:10:24,160 --> 01:10:27,880
Speaker 12: time a ninety three percent marginal tax rate would bring

1250
01:10:27,920 --> 01:10:31,720
Speaker 12: in more revenue than a seventy percent tax rate, or

1251
01:10:31,760 --> 01:10:35,519
Speaker 12: a fifty percent tax rate, or a thirty percent tax rate,

1252
01:10:35,880 --> 01:10:39,640
Speaker 12: or a forty percent tax rate, and so on. But

1253
01:10:39,720 --> 01:10:44,240
Speaker 12: as you can see from this cart, Congress isn't too smart,

1254
01:10:44,360 --> 01:10:47,439
Speaker 12: because the taxpayers decide how much money they're going to

1255
01:10:47,439 --> 01:10:49,560
Speaker 12: bring into the federal treasury.

1256
01:10:49,920 --> 01:10:52,120
Speaker 3: Now, on the other side of the ledger.

1257
01:10:52,520 --> 01:10:56,120
Speaker 12: Federal spending is at levels we've never seen outside of

1258
01:10:56,240 --> 01:10:58,759
Speaker 12: war and receation and still growing.

1259
01:10:59,320 --> 01:11:01,640
Speaker 2: So I make in a statement to you, but if

1260
01:11:01,680 --> 01:11:02,400
Speaker 2: you'd like to.

1261
01:11:02,320 --> 01:11:06,240
Speaker 12: Comment on whether or not we have a fiscal imbalance

1262
01:11:06,439 --> 01:11:12,480
Speaker 12: primarily or a or a spending problem rather than a revenue.

1263
01:11:12,080 --> 01:11:19,920
Speaker 13: Problemator Senator Grassley, I enjoyed visiting you in your office,

1264
01:11:19,960 --> 01:11:23,959
Speaker 13: and will remind you that when we were talking about

1265
01:11:24,280 --> 01:11:27,799
Speaker 13: the American agriculture that I may be the first Treasury

1266
01:11:27,840 --> 01:11:31,080
Speaker 13: Secretary nominee in a long time who knows what a

1267
01:11:31,200 --> 01:11:34,960
Speaker 13: section is six hundred and forty two acres.

1268
01:11:34,160 --> 01:11:36,519
Speaker 3: And involved in the farming business.

1269
01:11:36,920 --> 01:11:40,160
Speaker 13: And yes, we do not have a revenue problem in

1270
01:11:40,160 --> 01:11:43,360
Speaker 13: the United States of America. We have a spending problem

1271
01:11:44,000 --> 01:11:48,480
Speaker 13: that historically, for the past forty or fifty years, revenues,

1272
01:11:48,800 --> 01:11:53,840
Speaker 13: federal government revenues have averaged about seventeen to seventeen and

1273
01:11:53,880 --> 01:11:58,879
Speaker 13: a half percent of GDP, and spending has been slightly

1274
01:11:58,920 --> 01:12:02,519
Speaker 13: over that, us to a three and a half percent

1275
01:12:02,680 --> 01:12:07,880
Speaker 13: budget deficit, which is manageable because we have roughly three

1276
01:12:07,920 --> 01:12:11,719
Speaker 13: point eight percent nominal growth, one point eight percent real growth,

1277
01:12:11,720 --> 01:12:14,200
Speaker 13: two percent inflation today.

1278
01:12:15,000 --> 01:12:17,599
Speaker 3: As you stated, and to.

1279
01:12:17,520 --> 01:12:19,840
Speaker 13: Be clear, this is one of the things that got

1280
01:12:19,840 --> 01:12:23,040
Speaker 13: me out from behind my desk and my quiet life

1281
01:12:23,520 --> 01:12:28,280
Speaker 13: in this campaign was the thought that this spending is

1282
01:12:28,320 --> 01:12:31,280
Speaker 13: out of control. We are spending about twenty four to

1283
01:12:31,400 --> 01:12:35,639
Speaker 13: twenty five percent of GDP, So, as you said, six

1284
01:12:35,680 --> 01:12:39,320
Speaker 13: point eight to seven percent deficit. We had never seen

1285
01:12:39,360 --> 01:12:42,400
Speaker 13: this before when it is not a recession or not

1286
01:12:42,520 --> 01:12:47,120
Speaker 13: a war. And I am concerned because several times the

1287
01:12:47,200 --> 01:12:50,240
Speaker 13: Treasury of the United States has been called upon to

1288
01:12:50,320 --> 01:12:54,160
Speaker 13: save the nation, whether it was the Civil War, the

1289
01:12:54,200 --> 01:12:59,920
Speaker 13: Great Depression, World War two, or the recent COVID epidemic.

1290
01:13:01,320 --> 01:13:04,280
Speaker 3: Treasury, along with full.

1291
01:13:04,040 --> 01:13:10,360
Speaker 13: Government and Congress, has used its borrowing capacity to save

1292
01:13:10,600 --> 01:13:13,640
Speaker 13: the Union, to save the world, and to save the

1293
01:13:13,680 --> 01:13:18,599
Speaker 13: American people. And what we currently have now, we would

1294
01:13:18,640 --> 01:13:20,559
Speaker 13: be hard pressed to do same.

1295
01:13:22,080 --> 01:13:25,720
Speaker 12: My last question is one I ask a lot of

1296
01:13:25,800 --> 01:13:27,280
Speaker 12: people to come from Treasury.

1297
01:13:28,640 --> 01:13:31,200
Speaker 3: While I opposed tasks hikes.

1298
01:13:30,760 --> 01:13:35,800
Speaker 12: On individuals, families, and small businesses, I've long championed sensible

1299
01:13:36,000 --> 01:13:40,920
Speaker 12: policies geared towards shutting down tax loopholes and providing tools

1300
01:13:40,960 --> 01:13:46,160
Speaker 12: to IRS to detect tax cheats. A primary example is

1301
01:13:46,280 --> 01:13:50,639
Speaker 12: my legislation that authored in two thousand and six, the

1302
01:13:50,680 --> 01:13:54,840
Speaker 12: IRS whistle Bower Law, has brought six billion dollars back

1303
01:13:54,880 --> 01:13:58,960
Speaker 12: into the federal treasury. This program could raise billions more

1304
01:13:59,000 --> 01:14:03,519
Speaker 12: of IRS use it to its full potential. So I

1305
01:14:03,520 --> 01:14:06,160
Speaker 12: hope I can count on you if you're confirmed, and

1306
01:14:06,200 --> 01:14:09,840
Speaker 12: I think you'll be confirmed to be supportive of this

1307
01:14:09,880 --> 01:14:13,080
Speaker 12: s whistle Bower program and work to ensure its.

1308
01:14:12,920 --> 01:14:15,840
Speaker 2: Full use to its full potential.

1309
01:14:17,160 --> 01:14:24,120
Speaker 13: Senator Grassley, we are in complete alignment on this program.

1310
01:14:25,160 --> 01:14:26,920
Speaker 3: Thank you. Next would be Senator Corney.

1311
01:14:30,760 --> 01:14:34,559
Speaker 19: Well, thank you, mister Sherman, mister Besson, Welcome to Washington, DC.

1312
01:14:35,040 --> 01:14:39,080
Speaker 19: You're getting a taste of what it's like here, which

1313
01:14:39,160 --> 01:14:41,639
Speaker 19: is an out of body experience for most.

1314
01:14:41,479 --> 01:14:43,080
Speaker 2: People who are not acquainted with it.

1315
01:14:43,600 --> 01:14:46,840
Speaker 19: I happen to represent a state that has the eighth

1316
01:14:47,080 --> 01:14:50,840
Speaker 19: largest economy in the world. We think we understand the

1317
01:14:50,880 --> 01:14:54,960
Speaker 19: formula for economic growth and prosperity and opportunity, which your

1318
01:14:55,040 --> 01:15:01,760
Speaker 19: low taxes, a reasonable and modest regulatory footprint, and opportunities

1319
01:15:01,800 --> 01:15:07,120
Speaker 19: for people to prosper, and by prospering, invest and create

1320
01:15:07,160 --> 01:15:10,559
Speaker 19: opportunities for other people to pursue their dreams. We think

1321
01:15:10,600 --> 01:15:14,120
Speaker 19: there's a lot Washington can learn from that formula, and

1322
01:15:14,200 --> 01:15:18,960
Speaker 19: that sounds to be like you agree. One of the

1323
01:15:19,160 --> 01:15:23,000
Speaker 19: strange experiences I've had here is that so many of

1324
01:15:23,040 --> 01:15:26,360
Speaker 19: our colleagues, principally on the other side, think that the

1325
01:15:26,439 --> 01:15:29,720
Speaker 19: money that you earn is not actually yours, it's the

1326
01:15:29,760 --> 01:15:30,599
Speaker 19: federal governments.

1327
01:15:31,080 --> 01:15:33,960
Speaker 2: Can you just to John Cornyn right there with Scott Besson,

1328
01:15:34,080 --> 01:15:38,679
Speaker 2: some of the responses Scott Besson, I think this response

1329
01:15:38,720 --> 01:15:41,519
Speaker 2: has been absolutely fantastic. We do want to get in

1330
01:15:41,560 --> 01:15:43,160
Speaker 2: a limited time we've got, We're going to get some

1331
01:15:43,200 --> 01:15:45,120
Speaker 2: of the Democrats that are come hard at Scott, but

1332
01:15:45,920 --> 01:15:50,639
Speaker 2: he said right there, the if we do not pass

1333
01:15:50,760 --> 01:15:55,160
Speaker 2: the Tax Cut in Jobs Act of twenty seventeen, which

1334
01:15:55,200 --> 01:15:59,160
Speaker 2: we work so hard on in the Trump first term,

1335
01:15:59,200 --> 01:16:02,000
Speaker 2: that we're going to have and I'm a calamity. He

1336
01:16:02,040 --> 01:16:03,800
Speaker 2: also said something I think it's very important we say

1337
01:16:03,800 --> 01:16:05,240
Speaker 2: it all the time, is that we don't have a

1338
01:16:05,360 --> 01:16:09,320
Speaker 2: revenue problem. Roughly between seventeen and seventeen and a half

1339
01:16:09,360 --> 01:16:13,600
Speaker 2: percent of GDP has been the revenue pretty solid. We

1340
01:16:13,680 --> 01:16:18,240
Speaker 2: have a spending problem. And this gets back to the

1341
01:16:18,280 --> 01:16:22,320
Speaker 2: House Freedom Caucus just gave this proposal, and I think

1342
01:16:22,320 --> 01:16:24,360
Speaker 2: they're tipping their hand. They're saying, hey, they want to

1343
01:16:24,479 --> 01:16:27,080
Speaker 2: ford to the death ceiling, want a four trillion dollars

1344
01:16:28,040 --> 01:16:31,280
Speaker 2: lift for a two years. Well, hey, I'm just a

1345
01:16:31,320 --> 01:16:33,160
Speaker 2: simple guy. I do the math. It looks to me

1346
01:16:33,280 --> 01:16:35,840
Speaker 2: like two trillion dollars a year in deficits. They also

1347
01:16:35,920 --> 01:16:38,360
Speaker 2: lay at a whole host of cuts that's got to come.

1348
01:16:38,960 --> 01:16:41,240
Speaker 2: But once again, it's getting to this ten year program.

1349
01:16:41,360 --> 01:16:43,439
Speaker 2: I said at politically the other day, I want to

1350
01:16:43,479 --> 01:16:45,240
Speaker 2: stop the ten year It's not that I don't like

1351
01:16:45,280 --> 01:16:48,960
Speaker 2: planning down range, but we're in a crisis. You can

1352
01:16:49,000 --> 01:16:50,760
Speaker 2: see this in the bond market today. And made the

1353
01:16:50,840 --> 01:16:53,400
Speaker 2: questions of Scott Best, and Scott Besson just said right there,

1354
01:16:53,439 --> 01:16:55,400
Speaker 2: because I know Scott very well. He came back, he

1355
01:16:55,520 --> 01:16:57,799
Speaker 2: left the hedge fund business to come and take a salary.

1356
01:16:57,840 --> 01:17:00,240
Speaker 2: I don't know of one hundred and ninety thousand bucks

1357
01:17:00,240 --> 01:17:03,719
Speaker 2: a year or twenty thousand bucks a year to service

1358
01:17:03,760 --> 01:17:05,519
Speaker 2: country during a time of a crisis. We're in a

1359
01:17:05,560 --> 01:17:08,599
Speaker 2: crisis and finally the political class is waking up here.

1360
01:17:08,680 --> 01:17:11,040
Speaker 2: Why because the Democrats just had a orgy of spending

1361
01:17:11,640 --> 01:17:14,240
Speaker 2: with the Republican establishment that backed them up over the

1362
01:17:14,320 --> 01:17:18,880
Speaker 2: last four years, and they created the oligarchs they that

1363
01:17:18,960 --> 01:17:21,840
Speaker 2: they whine about now in his farewell address, it was

1364
01:17:21,920 --> 01:17:25,120
Speaker 2: fine when the oligarchs and the platforms work to suppress

1365
01:17:25,760 --> 01:17:29,920
Speaker 2: MAGA and the MAGA movement in President Trump. Okay, but

1366
01:17:30,040 --> 01:17:32,200
Speaker 2: now that you guys have been tossed from office. One

1367
01:17:32,200 --> 01:17:33,880
Speaker 2: of the reasons is people were tired of that and

1368
01:17:33,960 --> 01:17:38,800
Speaker 2: hated that all of a sudden it's bad. Scott said,

1369
01:17:38,800 --> 01:17:41,280
Speaker 2: we have a spending problem. Here is what I think.

1370
01:17:41,320 --> 01:17:43,519
Speaker 2: Everybody has to reorient themselves to it. And I'm going

1371
01:17:43,560 --> 01:17:46,719
Speaker 2: to be adam about this. I don't care about ten years.

1372
01:17:47,120 --> 01:17:49,559
Speaker 2: I don't care about five years right now. I care

1373
01:17:49,600 --> 01:17:53,120
Speaker 2: about this year and next year. This is essentially what

1374
01:17:53,160 --> 01:17:54,720
Speaker 2: you have to do is you're an investment banker and

1375
01:17:54,760 --> 01:17:57,719
Speaker 2: you go in to help a company finance particular companies

1376
01:17:57,760 --> 01:18:02,200
Speaker 2: that turn around are somebody that's that could go into bankruptcy.

1377
01:18:02,280 --> 01:18:04,640
Speaker 2: You have to do a restructuring or a turnaround. You

1378
01:18:04,720 --> 01:18:06,640
Speaker 2: got to be very hard. You say, I can't hear

1379
01:18:06,720 --> 01:18:08,680
Speaker 2: happy talk. Don't give me a three year projection, don't

1380
01:18:08,680 --> 01:18:10,800
Speaker 2: give me a five year projection. I need the next

1381
01:18:10,800 --> 01:18:13,040
Speaker 2: one hundred days, the next six months, the next year.

1382
01:18:13,600 --> 01:18:15,040
Speaker 2: And what you do is you go back and look

1383
01:18:15,040 --> 01:18:17,720
Speaker 2: at the trailing twelve months. Let me see what you

1384
01:18:17,840 --> 01:18:20,360
Speaker 2: just did, not even over the last year, just the

1385
01:18:20,439 --> 01:18:23,160
Speaker 2: last twelve months. So it's not even your fiscal year

1386
01:18:23,240 --> 01:18:25,720
Speaker 2: or your economic year, just the twelve months. And I

1387
01:18:25,760 --> 01:18:29,439
Speaker 2: want to monitor that and say us doing we just announced.

1388
01:18:29,439 --> 01:18:34,120
Speaker 2: You have to say the record record deficit record in history.

1389
01:18:34,240 --> 01:18:37,760
Speaker 2: Deficit for I think is up to December now for

1390
01:18:37,800 --> 01:18:40,160
Speaker 2: the first launch to a fiscal year. Fiscal year launch

1391
01:18:40,280 --> 01:18:42,560
Speaker 2: is October first. We're any crisis and people have to

1392
01:18:42,600 --> 01:18:45,720
Speaker 2: start thinking of this as a crisis. By that, I

1393
01:18:45,760 --> 01:18:48,679
Speaker 2: don't need cuts and I don't need Conservative wins over

1394
01:18:48,760 --> 01:18:52,320
Speaker 2: ten years. They're selling you something. And this is even

1395
01:18:52,320 --> 01:18:54,200
Speaker 2: for the Freedom Caucus. We have to get focused. Don't

1396
01:18:54,200 --> 01:18:56,240
Speaker 2: give me a ten year give me. I want to

1397
01:18:56,320 --> 01:18:59,000
Speaker 2: know now what it's going to be this year, next year.

1398
01:18:59,040 --> 01:19:01,200
Speaker 2: You're signaling to me ready and you're the hardest core

1399
01:19:01,240 --> 01:19:05,360
Speaker 2: budget hawks that it's it's two training a year and deficits.

1400
01:19:06,640 --> 01:19:09,880
Speaker 2: Am I supposed to think anything differently? I want my

1401
01:19:09,880 --> 01:19:12,000
Speaker 2: Freedom Caucus guys to call me. I'll reach out to

1402
01:19:12,040 --> 01:19:16,080
Speaker 2: you guys, But is that a solution at two train

1403
01:19:16,200 --> 01:19:20,640
Speaker 2: per year? And where's where's where's doge elon of these

1404
01:19:20,640 --> 01:19:23,360
Speaker 2: guys that got a step into the plate with with

1405
01:19:23,360 --> 01:19:26,960
Speaker 2: with Russ vote. I'm not saying even the cuts are

1406
01:19:27,000 --> 01:19:29,360
Speaker 2: going to take place, but I'd like to see if

1407
01:19:29,360 --> 01:19:31,240
Speaker 2: you're talking about two training one time and now it's

1408
01:19:31,240 --> 01:19:34,120
Speaker 2: a trillion, give it to me, baby, we need it now.

1409
01:19:35,200 --> 01:19:37,760
Speaker 2: If that's a trillion dollars. It's not over ten years.

1410
01:19:38,760 --> 01:19:40,680
Speaker 2: We need to know where these cuts are going to

1411
01:19:40,760 --> 01:19:43,240
Speaker 2: come now, because anything that's not now is happy talk.

1412
01:19:44,560 --> 01:19:48,000
Speaker 2: Reality in the Hill said, we're going to have these

1413
01:19:48,439 --> 01:19:53,000
Speaker 2: calamitous but we need to have that that is healthy.

1414
01:19:53,040 --> 01:19:57,120
Speaker 2: It's not unhealthy. What is unhealthy is to avoid this.

1415
01:19:58,360 --> 01:19:59,680
Speaker 2: What is it? You know, it's just in your own

1416
01:19:59,680 --> 01:20:02,599
Speaker 2: personal life, and people do it that. We talk about

1417
01:20:02,640 --> 01:20:04,840
Speaker 2: the credit cards, we're talking about the taxes you put

1418
01:20:04,840 --> 01:20:06,960
Speaker 2: in the drawer. People have a tendency. I can't deal

1419
01:20:06,960 --> 01:20:09,240
Speaker 2: with them. Too overwhelmed, I put away it's you know,

1420
01:20:09,320 --> 01:20:12,519
Speaker 2: what is a Scarlett O'Hara. I worry about that. Tomorrow

1421
01:20:12,640 --> 01:20:16,720
Speaker 2: that's for another day. We don't have another day. We

1422
01:20:16,800 --> 01:20:22,360
Speaker 2: have today and tomorrow. They have to be addressed. Paradie IMPRESSI.

1423
01:20:22,360 --> 01:20:28,240
Speaker 2: If you like global capital markets, strategy, geostrategy, Jim Rickards

1424
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Speaker 2: been fantastic, go to Ricords Warroom Records with it s

1425
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Speaker 2: worckordswarroom dot com. You get access to his newsletter, you

1426
01:20:36,760 --> 01:20:39,080
Speaker 2: get access to his books as one of the great thinkers.

1427
01:20:39,280 --> 01:20:42,840
Speaker 2: We're really proud with a high level contributor and somebody

1428
01:20:42,840 --> 01:20:44,840
Speaker 2: that's not going in the Treasury Department, so we get

1429
01:20:44,880 --> 01:20:48,600
Speaker 2: to keep him records warroom dot Com. We're going to

1430
01:20:48,640 --> 01:20:51,679
Speaker 2: take a short commercial break when in return we got

1431
01:20:51,680 --> 01:20:56,320
Speaker 2: Pam Bondi, Lee Zeldin, Scott bessen All in the hot

1432
01:20:56,360 --> 01:20:58,120
Speaker 2: seat today