1 00:00:00,320 --> 00:00:04,439 Speaker 1: Stay right here for our final news roundup and information overload. 2 00:00:04,480 --> 00:00:07,480 Speaker 1: All right, News roundup and information overload. Our toll free. 3 00:00:07,560 --> 00:00:09,280 Speaker 1: Let me give you our number. It is eight hundred 4 00:00:09,280 --> 00:00:11,320 Speaker 1: and nine four one. Sean. If you want to be 5 00:00:11,480 --> 00:00:14,840 Speaker 1: a part of the program, we welcome back to the show. 6 00:00:15,280 --> 00:00:18,200 Speaker 1: Senator ram Paula Kentucky. I want to talk to him 7 00:00:18,200 --> 00:00:22,040 Speaker 1: about a lot of different issues, the one Big Beautiful 8 00:00:22,160 --> 00:00:25,440 Speaker 1: Bill now that it is in the Senate and some 9 00:00:25,480 --> 00:00:27,639 Speaker 1: of the changes that are being discussed and what it 10 00:00:27,640 --> 00:00:31,160 Speaker 1: would take for him to support it. And number two, 11 00:00:32,120 --> 00:00:34,879 Speaker 1: i'd like to talk to him. Did you see the 12 00:00:34,960 --> 00:00:41,519 Speaker 1: Atlanta FEDS prediction and estimate of GDP growth over the 13 00:00:41,560 --> 00:00:44,720 Speaker 1: first two months of the second quarter is now a 14 00:00:44,840 --> 00:00:48,159 Speaker 1: booming four point six percent. Because the last time we 15 00:00:48,159 --> 00:00:51,400 Speaker 1: were on, we talked a lot about your concern and 16 00:00:51,920 --> 00:00:54,280 Speaker 1: there should be concern about tariffs and getting some of 17 00:00:54,320 --> 00:00:56,000 Speaker 1: these deals done, and I think there's going to be 18 00:00:56,080 --> 00:01:01,400 Speaker 1: more to follow, and I absolutely underst stand your concern 19 00:01:01,440 --> 00:01:05,080 Speaker 1: about that, But four point six percent, if the second 20 00:01:05,120 --> 00:01:08,400 Speaker 1: quarter comes in anywhere near that number, wouldn't you say 21 00:01:08,440 --> 00:01:10,600 Speaker 1: that that is a phenomenal success. 22 00:01:10,880 --> 00:01:12,559 Speaker 2: Yeah, I think it'd be great if we have growth 23 00:01:12,600 --> 00:01:15,440 Speaker 2: over four percent. We'll wait and see what the numbers show. 24 00:01:15,920 --> 00:01:19,720 Speaker 2: A lot of things about the tariff aren't yet set 25 00:01:19,720 --> 00:01:22,720 Speaker 2: in motion. You know, most of the people who tell 26 00:01:22,760 --> 00:01:24,959 Speaker 2: me they are going to have to pay higher prices 27 00:01:25,000 --> 00:01:28,000 Speaker 2: for the goods they sell say that their contracts lock 28 00:01:28,080 --> 00:01:31,600 Speaker 2: them into not raising the price of the goods for 29 00:01:31,680 --> 00:01:34,759 Speaker 2: a couple of months. So many people who import things 30 00:01:34,800 --> 00:01:37,200 Speaker 2: from overseas or saying that their costs will go up 31 00:01:37,520 --> 00:01:39,880 Speaker 2: later on in the fall. So there's going to be 32 00:01:39,880 --> 00:01:43,080 Speaker 2: the adjustment to tariffs. The tariffs are, without question at tax. 33 00:01:43,640 --> 00:01:45,600 Speaker 2: When you tax something, you get less of it, so 34 00:01:45,640 --> 00:01:48,560 Speaker 2: you'll get less trade. And it used to be that 35 00:01:48,600 --> 00:01:51,680 Speaker 2: Republicans work for lower taxes, not higher taxes. We thought 36 00:01:51,720 --> 00:01:54,760 Speaker 2: that bringing more money into the government wasn't the goal. 37 00:01:54,840 --> 00:01:57,320 Speaker 2: Actually the goal was leaving more money in the private sector. 38 00:01:57,720 --> 00:02:00,360 Speaker 1: Well, but yeah, you have to view this through the 39 00:02:00,400 --> 00:02:03,200 Speaker 1: prism of the fact that and you acknowledge this the 40 00:02:03,280 --> 00:02:05,920 Speaker 1: last time you were on that America is getting ripped off, 41 00:02:06,440 --> 00:02:09,160 Speaker 1: that the European Union is ripping us off, that are 42 00:02:09,880 --> 00:02:13,400 Speaker 1: that Canada is ripping us off. All these countries you know, 43 00:02:13,520 --> 00:02:17,239 Speaker 1: friend and follow alike, China totally ripping us off and 44 00:02:17,680 --> 00:02:20,040 Speaker 1: you know, the question is does America at some point 45 00:02:20,120 --> 00:02:22,800 Speaker 1: stand up for itself and say that enough is enough? 46 00:02:23,080 --> 00:02:26,400 Speaker 1: And you know, America go through a little bit of pain, 47 00:02:26,960 --> 00:02:30,040 Speaker 1: but demand that we have either free and fair trade 48 00:02:30,160 --> 00:02:34,680 Speaker 1: or reciprocal tariffs. Now as a as a consequence of 49 00:02:34,720 --> 00:02:38,480 Speaker 1: the President's strong physician, we also have had some incredible benefits. 50 00:02:38,960 --> 00:02:42,160 Speaker 1: I'll list them for you. One ten trillion dollars in 51 00:02:42,320 --> 00:02:48,040 Speaker 1: committed moneys for manufacturing in America, including semiconductors, chips, and 52 00:02:48,320 --> 00:02:51,119 Speaker 1: pharmaceuticals that will be made here. I think those two 53 00:02:51,160 --> 00:02:55,280 Speaker 1: issues are good for American national security. We did have 54 00:02:55,880 --> 00:03:00,120 Speaker 1: you know about, on average twenty five billion dollars that 55 00:03:00,160 --> 00:03:04,880 Speaker 1: we'd never seen before in tariff money because the President 56 00:03:04,919 --> 00:03:06,520 Speaker 1: has taking a stand that we're not going to be 57 00:03:06,560 --> 00:03:09,399 Speaker 1: ripped off anymore. I don't think you want America ripped off, 58 00:03:09,760 --> 00:03:09,880 Speaker 1: you know. 59 00:03:09,960 --> 00:03:12,799 Speaker 2: I think it's important to kind of unpack that when 60 00:03:12,840 --> 00:03:15,160 Speaker 2: we talk about whether or not a country is ripped off. 61 00:03:15,680 --> 00:03:19,160 Speaker 2: Trade is mutually beneficial or basically doesn't occur. So most 62 00:03:19,200 --> 00:03:21,679 Speaker 2: trade that you think is an American in China is 63 00:03:21,760 --> 00:03:25,040 Speaker 2: really Americans going and buying something at Walmart. So when 64 00:03:25,040 --> 00:03:27,000 Speaker 2: you go and you buy a TV at Walmart, and 65 00:03:27,040 --> 00:03:29,560 Speaker 2: let's say it's made in China. You only buy that 66 00:03:29,680 --> 00:03:33,000 Speaker 2: TV if you think that it's beneficial to you. So 67 00:03:33,120 --> 00:03:37,120 Speaker 2: all transactions really that are voluntary or mutually beneficial. You 68 00:03:37,200 --> 00:03:39,760 Speaker 2: want the TV more than you want your six hundred dollars, 69 00:03:39,760 --> 00:03:41,920 Speaker 2: and the person who made the TV wants your six 70 00:03:42,000 --> 00:03:44,000 Speaker 2: hundred dollars more than the TV, and so you make 71 00:03:44,040 --> 00:03:47,120 Speaker 2: a trade. You can all circle around that to them. 72 00:03:47,200 --> 00:03:48,800 Speaker 2: My goodness, at the end of the year, a million 73 00:03:48,840 --> 00:03:52,240 Speaker 2: people bought a TV at Walmart and they were all 74 00:03:52,240 --> 00:03:54,880 Speaker 2: individually happy. But if you say that all the TVs 75 00:03:54,920 --> 00:03:57,400 Speaker 2: came from China, we now have a trade deficit, and 76 00:03:57,560 --> 00:03:59,960 Speaker 2: so people say, well, we were ripped off. 77 00:04:00,120 --> 00:04:04,320 Speaker 1: Basically, no, it's not the trade deficit. It's the terriff differential. 78 00:04:04,760 --> 00:04:07,400 Speaker 1: In other words, that they prevent American goods from going 79 00:04:07,400 --> 00:04:12,320 Speaker 1: into their country, which hurts our farmers, our manufacturers, our 80 00:04:12,440 --> 00:04:17,240 Speaker 1: ranchers and other industries. And I'm not even including intellectual 81 00:04:17,279 --> 00:04:21,640 Speaker 1: property theft. And we're giving free and free access to 82 00:04:21,680 --> 00:04:24,800 Speaker 1: our markets at very low teriff rates. You know, at 83 00:04:24,800 --> 00:04:28,280 Speaker 1: some point, don't we have to challenge the system and 84 00:04:28,320 --> 00:04:31,400 Speaker 1: say make it free and fair or if you want tariffs. 85 00:04:31,440 --> 00:04:33,960 Speaker 1: That's got to be reciprocal. I mean, that just seems 86 00:04:34,400 --> 00:04:37,120 Speaker 1: that seems simply like fundamentally fair to me. 87 00:04:37,800 --> 00:04:40,400 Speaker 2: You know, we're the number one importer of goods in 88 00:04:40,400 --> 00:04:42,719 Speaker 2: the world, but we're also the number two exporter of 89 00:04:42,760 --> 00:04:45,200 Speaker 2: goods in the world, so we do make a great 90 00:04:45,240 --> 00:04:48,360 Speaker 2: deal off of trade. And I think my argument is 91 00:04:48,400 --> 00:04:51,800 Speaker 2: that in each individual trade they have to be mutually beneficial. 92 00:04:52,200 --> 00:04:54,200 Speaker 2: If you draw a circle around them, you can show 93 00:04:54,200 --> 00:04:57,960 Speaker 2: that we have a trade deficit. The problem with fairness arguments, 94 00:04:57,960 --> 00:05:00,440 Speaker 2: and they do make sense. So when you tell it's 95 00:05:00,440 --> 00:05:02,799 Speaker 2: not fair that a certain country has a twenty percent 96 00:05:02,839 --> 00:05:04,680 Speaker 2: tariff on ours and we don't have a tariff on that, 97 00:05:05,320 --> 00:05:08,000 Speaker 2: it does it does sort of resound and you say, oh, 98 00:05:08,040 --> 00:05:10,400 Speaker 2: my goodness, it doesn't sound fair. But what if I 99 00:05:10,480 --> 00:05:11,599 Speaker 2: told you that teachers. 100 00:05:11,320 --> 00:05:14,520 Speaker 1: It doesn't sound fair, but in reality it isn't fair. 101 00:05:14,800 --> 00:05:17,240 Speaker 2: Let me finish point. So what if I tell you, though, 102 00:05:17,279 --> 00:05:20,320 Speaker 2: that teachers making sixty thousand dollars a year and a 103 00:05:20,400 --> 00:05:23,680 Speaker 2: rap star making six million dollars a year isn't fair 104 00:05:23,760 --> 00:05:26,599 Speaker 2: because the teacher really is more of a service to 105 00:05:26,640 --> 00:05:28,360 Speaker 2: the country, and we should pay a teacher more than 106 00:05:28,360 --> 00:05:31,040 Speaker 2: a rap star. But those are arguments from the left, 107 00:05:31,080 --> 00:05:34,120 Speaker 2: and we usually don't accept fairness arguments because we let 108 00:05:34,120 --> 00:05:36,760 Speaker 2: the market decide how much your value is worth. How 109 00:05:36,800 --> 00:05:40,240 Speaker 2: much should a you know, a television personality make, how 110 00:05:40,320 --> 00:05:42,360 Speaker 2: much an athlete make? How much would a teacher make? 111 00:05:42,360 --> 00:05:44,640 Speaker 2: And a fireman we don't go by sort. 112 00:05:44,480 --> 00:05:47,320 Speaker 1: Of a TV personality does not make enough. I No, 113 00:05:47,360 --> 00:05:52,200 Speaker 1: I'm kidding, but I'm really having a hard time understanding this. 114 00:05:52,920 --> 00:05:57,080 Speaker 1: Why would China prevent our goods? For example? Why is 115 00:05:57,160 --> 00:06:01,159 Speaker 1: Canada put massive tariffs? Or the year of Union, for example, 116 00:06:01,200 --> 00:06:04,599 Speaker 1: they put a ten percent tariff on our automobiles going 117 00:06:04,640 --> 00:06:07,240 Speaker 1: into Europe and we only put a two and a 118 00:06:07,320 --> 00:06:09,839 Speaker 1: half percent tariff on theirs, and then they have a 119 00:06:09,880 --> 00:06:12,880 Speaker 1: twenty percent vattack, So that's a thirty percent increase in 120 00:06:12,920 --> 00:06:16,719 Speaker 1: our sticker price. And we sell very few American cars 121 00:06:16,920 --> 00:06:18,960 Speaker 1: in the European Union, and they sell a ton of 122 00:06:18,960 --> 00:06:22,640 Speaker 1: cars in America. As a result of the President's threat 123 00:06:22,720 --> 00:06:27,560 Speaker 1: of tariffs, Now BMW and Mercedes and all these foreign 124 00:06:27,560 --> 00:06:30,560 Speaker 1: countries are now going to build their facilities here and 125 00:06:30,600 --> 00:06:33,159 Speaker 1: that'll create jobs for Americans, which I'm fine with. Then 126 00:06:33,240 --> 00:06:35,000 Speaker 1: those will not be subject to tariffs. 127 00:06:35,120 --> 00:06:38,400 Speaker 2: No, I think that's a good and that's a great result. 128 00:06:38,480 --> 00:06:41,200 Speaker 2: If we get to lower reciprocal tariffs. I think that's 129 00:06:41,240 --> 00:06:44,440 Speaker 2: a great result. If we wind up with greater tariffs, though, 130 00:06:45,040 --> 00:06:48,599 Speaker 2: it'll be basically the effects of taxing something. You'll have 131 00:06:48,680 --> 00:06:51,039 Speaker 2: more revenue for the government, but less revenue for the 132 00:06:51,160 --> 00:06:55,160 Speaker 2: private marketplace. And so people to realize many people are 133 00:06:55,200 --> 00:06:57,400 Speaker 2: for the tariffs, say we're going to just past those foreigners. 134 00:06:57,480 --> 00:07:00,680 Speaker 2: Those foreigners are going to pay these well, no American companyies. 135 00:07:00,800 --> 00:07:04,600 Speaker 2: I was with the company today that imports things from 136 00:07:04,720 --> 00:07:07,520 Speaker 2: Southeast Asia then sells them to Americans that six thousand 137 00:07:07,560 --> 00:07:10,760 Speaker 2: Americans work for the company. And so the thing is 138 00:07:10,760 --> 00:07:13,760 Speaker 2: is that the people who are punished by this are Americans. 139 00:07:13,800 --> 00:07:17,040 Speaker 2: If we punish Apple and say you can't make phones 140 00:07:17,040 --> 00:07:18,840 Speaker 2: in China and you can't make them in India, you've 141 00:07:18,880 --> 00:07:20,960 Speaker 2: got to make them in the US, it will mean 142 00:07:21,080 --> 00:07:24,200 Speaker 2: higher prices here, and people have to decide, well or. 143 00:07:24,640 --> 00:07:28,600 Speaker 1: Or These countries realize that they have taken advantage of 144 00:07:28,640 --> 00:07:31,280 Speaker 1: it of US, and we've allowed them to take advantage 145 00:07:31,320 --> 00:07:34,200 Speaker 1: of us, and they change their policies as a result, 146 00:07:34,240 --> 00:07:36,640 Speaker 1: which I think ultimately is going to happen. My understanding 147 00:07:36,720 --> 00:07:39,320 Speaker 1: is we're close to a deal with India. We had 148 00:07:39,320 --> 00:07:41,880 Speaker 1: a deal with China. Apparently they're violating it, so that 149 00:07:42,000 --> 00:07:45,880 Speaker 1: has to be rectified. I can imagine a trade deal 150 00:07:45,920 --> 00:07:49,040 Speaker 1: with the European Union probably forthcoming, a trade deal with 151 00:07:49,160 --> 00:07:53,560 Speaker 1: Australia probably coming. But yet, if the President didn't take 152 00:07:53,600 --> 00:07:56,120 Speaker 1: a stand and say, wait a minute, you're treating our 153 00:07:56,160 --> 00:08:03,960 Speaker 1: country unfairly. Our manufacturers, are farmers, our ranchers on fairly unfairly, 154 00:08:04,600 --> 00:08:06,840 Speaker 1: and you need to allow access to our markets the 155 00:08:06,840 --> 00:08:08,840 Speaker 1: way we're allowing access to yours. I think we have 156 00:08:08,880 --> 00:08:11,440 Speaker 1: a certain power and as much as kind of all 157 00:08:11,480 --> 00:08:13,920 Speaker 1: these countries that I mentioned, they all need access to 158 00:08:13,960 --> 00:08:15,360 Speaker 1: our markets. They want our money. 159 00:08:16,160 --> 00:08:18,200 Speaker 2: In the midst of all this, though, you have Lindsay 160 00:08:18,280 --> 00:08:21,600 Speaker 2: Graham offering up a bill to have five hundred percent 161 00:08:21,640 --> 00:08:24,920 Speaker 2: tariffs on India. So if you have five hundred percent tariffs, 162 00:08:24,960 --> 00:08:27,080 Speaker 2: if people think, oh my goodness, tariffs are so great, 163 00:08:27,080 --> 00:08:28,960 Speaker 2: why don't we do a five hundred percent tariff on 164 00:08:29,000 --> 00:08:31,760 Speaker 2: India until they quit buying oil from Russia. 165 00:08:32,240 --> 00:08:34,240 Speaker 1: Well, I'm not going to have a five hundred percent 166 00:08:34,400 --> 00:08:36,440 Speaker 1: Well it's just not going to happen. You're talking about 167 00:08:36,880 --> 00:08:40,120 Speaker 1: this putent sanctioned bill with eighty two senators are now 168 00:08:40,160 --> 00:08:40,760 Speaker 1: signing on too. 169 00:08:41,400 --> 00:08:44,400 Speaker 2: You've got eighty two senators that are beguiled somehow into 170 00:08:44,440 --> 00:08:46,679 Speaker 2: thinking that tariffs don't mean anything in tariffs are not 171 00:08:46,720 --> 00:08:49,800 Speaker 2: our problem. But the bill offers five hundred percent tariffs 172 00:08:49,800 --> 00:08:54,080 Speaker 2: on anybody buying oil gas from Russia directly or indirectly. 173 00:08:54,559 --> 00:08:57,680 Speaker 2: So high on that list is India. I'm not positive 174 00:08:57,720 --> 00:09:00,600 Speaker 2: what happens, but as a country, I would be somewhat 175 00:09:01,000 --> 00:09:03,560 Speaker 2: offended by another country telling me I can't buy oil 176 00:09:03,920 --> 00:09:07,640 Speaker 2: from one country another. But it may not be logistically 177 00:09:07,679 --> 00:09:10,400 Speaker 2: possible because India advises a lot of oil from Russia. 178 00:09:10,559 --> 00:09:13,680 Speaker 2: It may not be logistically possible for them to be couple. 179 00:09:14,000 --> 00:09:15,840 Speaker 2: But there is a chance that they also react to 180 00:09:15,880 --> 00:09:18,720 Speaker 2: this in a nationalistic way and say, go take a hike. 181 00:09:18,800 --> 00:09:20,720 Speaker 2: We're going to buy all from where we want. But 182 00:09:20,760 --> 00:09:22,640 Speaker 2: then what we're talking about is a trade war that 183 00:09:22,679 --> 00:09:25,640 Speaker 2: would end up in a worldwide embargo thirty six countries 184 00:09:26,000 --> 00:09:28,400 Speaker 2: by oil and gas from Russia. So there is a 185 00:09:28,520 --> 00:09:31,400 Speaker 2: danger to thinking that tariffs are benign and tariff wars 186 00:09:31,400 --> 00:09:35,320 Speaker 2: are benign. Lindsey Grantsville is perhaps the most ill conceived 187 00:09:35,320 --> 00:09:36,720 Speaker 2: bill that's ever come before. 188 00:09:37,760 --> 00:09:42,079 Speaker 1: Well, isn't it certainly better than the policy of two 189 00:09:42,160 --> 00:09:45,720 Speaker 1: hundred plus billion taxpayer dollars in a proxy war of 190 00:09:45,760 --> 00:09:51,160 Speaker 1: America between Ukraine and Vladimir Putin? I mean, ostensibly we 191 00:09:51,280 --> 00:09:52,280 Speaker 1: became the proxy. 192 00:09:52,640 --> 00:09:55,000 Speaker 2: Yeah. No, I'm not for funding the war in Ukraine 193 00:09:55,040 --> 00:09:57,160 Speaker 2: and have devoted against an opposed to all of that. 194 00:09:57,640 --> 00:09:59,880 Speaker 2: But I'm certainly not for having a worldwide and barb 195 00:10:00,080 --> 00:10:02,800 Speaker 2: go for people who do trade with Russia. So I 196 00:10:02,800 --> 00:10:04,560 Speaker 2: don't think that's a good way to end the war, 197 00:10:04,679 --> 00:10:07,079 Speaker 2: but I think it's a good way to have an 198 00:10:07,120 --> 00:10:09,880 Speaker 2: economic catastrophe, above and beyond anything. 199 00:10:09,960 --> 00:10:11,920 Speaker 1: But let me ask you, well, I mean they're getting 200 00:10:12,000 --> 00:10:16,200 Speaker 1: reduced rates, they're paying about seven seventy cents on the 201 00:10:16,320 --> 00:10:19,480 Speaker 1: dollar for oil and gas from Russia in the European 202 00:10:19,559 --> 00:10:24,040 Speaker 1: Union Western European nations. Aren't they funding the war machine 203 00:10:24,120 --> 00:10:27,560 Speaker 1: of Vladimir Putin by allowing him to profit? Just like, 204 00:10:27,640 --> 00:10:30,120 Speaker 1: for example, when Joe Biden turned a blind eye to 205 00:10:30,160 --> 00:10:33,400 Speaker 1: the sanctions with Iran, didn't that didn't that enrich them 206 00:10:33,440 --> 00:10:35,719 Speaker 1: to the point where they can follment terror in the 207 00:10:35,840 --> 00:10:36,520 Speaker 1: entire region. 208 00:10:37,200 --> 00:10:39,320 Speaker 2: I think we can have opinions about what's in our 209 00:10:39,400 --> 00:10:41,719 Speaker 2: national interests in other countries can. But if we think 210 00:10:41,760 --> 00:10:44,560 Speaker 2: we can force the entire world to do as we 211 00:10:44,640 --> 00:10:47,200 Speaker 2: say and to not deal with Russia, I don't know. 212 00:10:47,280 --> 00:10:49,920 Speaker 2: I think it's a naive notion, and it's a it's 213 00:10:49,920 --> 00:10:52,600 Speaker 2: a kind of this idea that you know that George 214 00:10:52,600 --> 00:10:54,320 Speaker 2: Bush was for, We're going to make the world safe 215 00:10:54,360 --> 00:10:56,360 Speaker 2: for democrats are going to go everywhere and tell everyone 216 00:10:56,400 --> 00:10:56,800 Speaker 2: what to do. 217 00:10:56,960 --> 00:10:58,960 Speaker 1: No, I don't want to. I don't want to change countries. 218 00:10:59,120 --> 00:11:01,760 Speaker 1: I don't I don't even want to push regime change. However, 219 00:11:01,920 --> 00:11:04,320 Speaker 1: I don't think Iran could ever have a nuclear weapon. 220 00:11:05,080 --> 00:11:08,120 Speaker 1: And I don't you know, I look at I'd look 221 00:11:08,120 --> 00:11:12,040 Speaker 1: at Vladimir Putin as a murdering dictator, thug that never 222 00:11:12,080 --> 00:11:14,640 Speaker 1: should have amassed troops on the border with Ukraine and 223 00:11:15,160 --> 00:11:17,800 Speaker 1: military equipment the way he did, and Joe biden'sill sit 224 00:11:17,920 --> 00:11:20,440 Speaker 1: idly by and let him do it, and then, you know, 225 00:11:20,640 --> 00:11:23,360 Speaker 1: basically use American money to fight that war. 226 00:11:23,920 --> 00:11:25,920 Speaker 2: But the question is whether or not we would embrace 227 00:11:25,960 --> 00:11:29,600 Speaker 2: a worldwide embargo of thirty six countries, including many members 228 00:11:29,640 --> 00:11:33,080 Speaker 2: of the EU, India and others who buy oil and 229 00:11:33,120 --> 00:11:36,080 Speaker 2: gas from Russia. And what a disaster this would be 230 00:11:36,120 --> 00:11:38,600 Speaker 2: for the world. I mean, I think that this really 231 00:11:38,679 --> 00:11:40,920 Speaker 2: is the most ill conceived bill I've ever seen come 232 00:11:40,920 --> 00:11:43,520 Speaker 2: before Congress. It would lead to a disaster. 233 00:11:44,160 --> 00:11:46,640 Speaker 1: Well, then how do you put pressure on Vladimir Putin 234 00:11:46,720 --> 00:11:50,560 Speaker 1: to end the indiscriminate killing of men, women and children, Because, 235 00:11:50,800 --> 00:11:53,800 Speaker 1: like you, I don't support American involvement in Europe. This 236 00:11:53,920 --> 00:11:56,439 Speaker 1: is a European problem. This is not an American problem. 237 00:11:56,440 --> 00:12:00,679 Speaker 1: But you know, when you see you know, I mean, 238 00:12:01,080 --> 00:12:06,400 Speaker 1: there comes a point where America, American involvement. We saw 239 00:12:06,440 --> 00:12:10,679 Speaker 1: this in World War Two, you know, became a necessity, 240 00:12:11,040 --> 00:12:14,199 Speaker 1: you know, to beat back the forces of Nazism and 241 00:12:14,679 --> 00:12:17,679 Speaker 1: fascism and imperial Japan. We were forced into that. 242 00:12:18,520 --> 00:12:20,640 Speaker 2: You know, one of the countries at bazol and gas 243 00:12:20,720 --> 00:12:22,679 Speaker 2: is Israel. So we're going to have a five hundred 244 00:12:22,679 --> 00:12:25,480 Speaker 2: percent tariff on Israel in the midst of you know, 245 00:12:25,559 --> 00:12:29,560 Speaker 2: the unending crisis that they have with their enemies surround. 246 00:12:29,600 --> 00:12:30,920 Speaker 1: You know, we're going to We're going to tell all 247 00:12:30,920 --> 00:12:33,160 Speaker 1: these countries to buy their oil and gas from us. 248 00:12:33,200 --> 00:12:33,960 Speaker 1: That's what I would do. 249 00:12:34,800 --> 00:12:37,080 Speaker 2: Well, the thing is is, you know, I guess that 250 00:12:37,120 --> 00:12:39,959 Speaker 2: sounds pretty imperialistic to me, that we're going to make 251 00:12:40,000 --> 00:12:41,959 Speaker 2: the decisions for the whole world where they can buy 252 00:12:42,000 --> 00:12:45,280 Speaker 2: their long gas. Israel's already made a decision. Israel imports 253 00:12:45,320 --> 00:12:50,560 Speaker 2: thirteen looks like a million barrels a year from from Russia. 254 00:12:50,640 --> 00:12:55,760 Speaker 2: But Germany does, Egypt does, India does, Thailand? Does Italy? 255 00:12:55,920 --> 00:12:57,040 Speaker 2: Poland Columbia? 256 00:12:57,480 --> 00:12:59,960 Speaker 1: And it's like, aren't they funding his warm Isshines? 257 00:13:01,840 --> 00:13:03,960 Speaker 2: Well, I know, but the thing is, you're right, Yeah, 258 00:13:04,040 --> 00:13:05,840 Speaker 2: we have an opinion. We don't like it. We can 259 00:13:05,880 --> 00:13:08,640 Speaker 2: tell them that. But a five percent tariff in double 260 00:13:08,679 --> 00:13:12,800 Speaker 2: every ninety days is a recipe for complete You think it. 261 00:13:13,160 --> 00:13:15,640 Speaker 2: You think there's been some chaos when six point six 262 00:13:15,720 --> 00:13:18,720 Speaker 2: trillion dollars is lost in the stock market on Liberation 263 00:13:18,880 --> 00:13:21,120 Speaker 2: Day on the threat of tariffs with all these countries. 264 00:13:21,360 --> 00:13:23,440 Speaker 2: Most of those tariffs weren't five hundred percent. They were 265 00:13:23,520 --> 00:13:27,199 Speaker 2: anywhere between twenty thirty percent and one hundred and fifty percent. 266 00:13:28,040 --> 00:13:30,680 Speaker 1: We would you would you deny the ten trillion in 267 00:13:30,720 --> 00:13:34,040 Speaker 1: committed investment was a result of Donald Trump showing some 268 00:13:34,080 --> 00:13:37,240 Speaker 1: strength and a willingness to go where no one, no 269 00:13:37,320 --> 00:13:41,080 Speaker 1: other person went before. Or the fact that the Atlanta 270 00:13:41,120 --> 00:13:44,400 Speaker 1: Fed is predicting four point six percent GDP growth. That's 271 00:13:44,440 --> 00:13:46,960 Speaker 1: their estimate for the second quarter. Is a result of 272 00:13:47,000 --> 00:13:50,720 Speaker 1: all this, that all the fear mongering about tariffs didn't 273 00:13:50,760 --> 00:13:51,200 Speaker 1: pan out. 274 00:13:51,600 --> 00:13:53,400 Speaker 2: Now there's many good things. I think the story is 275 00:13:53,440 --> 00:13:56,040 Speaker 2: not yet, not yet finished. I think we're just getting started. 276 00:13:56,280 --> 00:13:58,680 Speaker 1: I agree with you. I agree. I think you know 277 00:13:58,720 --> 00:14:02,160 Speaker 1: there's still and my hope is they get deal after 278 00:14:02,200 --> 00:14:04,920 Speaker 1: deal after deal, and then we move on with freer 279 00:14:04,960 --> 00:14:06,880 Speaker 1: and fairer trade. I'm on Free Trader. 280 00:14:07,520 --> 00:14:10,440 Speaker 2: Our purpose isn't to simply say that the president's not 281 00:14:10,480 --> 00:14:13,800 Speaker 2: doing well. I'm in a huge supporter of the President's cabinet. 282 00:14:13,840 --> 00:14:16,959 Speaker 2: I've voted for the nominations in a support of the 283 00:14:17,040 --> 00:14:19,400 Speaker 2: tax I was part of getting the tax cuts do 284 00:14:19,480 --> 00:14:20,400 Speaker 2: in twenty seventeen. 285 00:14:20,680 --> 00:14:23,240 Speaker 1: Would like to know you agree, you agree. We agree 286 00:14:23,280 --> 00:14:26,000 Speaker 1: on a lot of things, and I don't want involvement 287 00:14:26,080 --> 00:14:29,560 Speaker 1: in foreign conflicts either, but I do want the killing 288 00:14:29,640 --> 00:14:32,000 Speaker 1: to stop. I mean, we saw the onslaught that killed 289 00:14:32,000 --> 00:14:35,080 Speaker 1: innocent men, when women and children, and frankly, I was 290 00:14:35,120 --> 00:14:38,240 Speaker 1: glad the Ukrainians took out all those those you know, 291 00:14:38,280 --> 00:14:42,520 Speaker 1: the forty two bombers of Russia. I think they have 292 00:14:42,560 --> 00:14:44,800 Speaker 1: every right to defend themselves at this point but it 293 00:14:44,800 --> 00:14:47,480 Speaker 1: should be European money, not American. Listen, you've got a 294 00:14:47,480 --> 00:14:48,800 Speaker 1: few more seconds. Do you have to run? 295 00:14:49,600 --> 00:14:51,080 Speaker 2: I got a few more seconds? 296 00:14:51,320 --> 00:14:53,800 Speaker 1: All right, quick break, We'll come back more with ram 297 00:14:53,800 --> 00:14:55,560 Speaker 1: Paul on the other side. Eight hundred and ninety four 298 00:14:55,640 --> 00:14:58,560 Speaker 1: one Seawan is our number. All right? We continue now 299 00:14:59,080 --> 00:15:03,240 Speaker 1: and shift gears with Kentucky Senator rampauls with us. You know, 300 00:15:03,480 --> 00:15:05,720 Speaker 1: there's a lot we agree on. I don't want American 301 00:15:05,920 --> 00:15:08,280 Speaker 1: in these long drawn out foreign conflicts, but I don't 302 00:15:08,280 --> 00:15:12,720 Speaker 1: want America being ripped off. I think the President is negotiating, 303 00:15:13,040 --> 00:15:15,600 Speaker 1: and I've known this guy for thirty years. I know how. 304 00:15:15,880 --> 00:15:18,000 Speaker 1: I think I have a pretty good understanding about how 305 00:15:18,000 --> 00:15:20,360 Speaker 1: his mind works. I think we have already reaped a 306 00:15:20,360 --> 00:15:24,320 Speaker 1: lot of benefits, and I'm hoping the result is freer 307 00:15:24,400 --> 00:15:27,920 Speaker 1: and fairer trade at the end of the day. Let 308 00:15:28,000 --> 00:15:31,520 Speaker 1: me move on to the issue of the Reconciliation Bill, 309 00:15:31,600 --> 00:15:35,360 Speaker 1: the one big beautiful bill. You have been pretty outspoken 310 00:15:35,400 --> 00:15:38,360 Speaker 1: about it and about the House version, which was not 311 00:15:38,480 --> 00:15:40,920 Speaker 1: easy to come by, and I don't want you to 312 00:15:40,920 --> 00:15:42,920 Speaker 1: think by any means I think it's perfect, because I 313 00:15:42,920 --> 00:15:45,840 Speaker 1: know it's not, and I know you've got a lot 314 00:15:45,840 --> 00:15:48,920 Speaker 1: of mine fields that you've got to navigate here, especially 315 00:15:48,960 --> 00:15:53,160 Speaker 1: over you have some Republican senators concerned about Medicaid provisions 316 00:15:53,680 --> 00:15:57,400 Speaker 1: in the House Past bill, you know Josh Halllesus and Collins, 317 00:15:57,400 --> 00:16:01,440 Speaker 1: Lisa Murkowski there, you know, Republican from states with large 318 00:16:01,600 --> 00:16:05,240 Speaker 1: rural populations, they are concerned about losing benefits. I know, 319 00:16:05,360 --> 00:16:08,280 Speaker 1: the snap issue is a big issue of Charles Grassley's 320 00:16:08,920 --> 00:16:11,760 Speaker 1: clean energy tax credits is a big one whether or 321 00:16:11,800 --> 00:16:15,160 Speaker 1: not we're actually cutting enough out of this bill. And 322 00:16:15,200 --> 00:16:17,560 Speaker 1: then you've got to get it by this one person, 323 00:16:17,640 --> 00:16:21,320 Speaker 1: the Senate Parliamentarian, and make sure that it passes the 324 00:16:21,320 --> 00:16:24,880 Speaker 1: Bird rule without getting too complicated in the Senate. If 325 00:16:24,920 --> 00:16:30,120 Speaker 1: you want to have if you want to overcome cloture, 326 00:16:30,200 --> 00:16:35,680 Speaker 1: which needs sixty votes for passage, reconciliations is a means 327 00:16:35,720 --> 00:16:38,360 Speaker 1: to do it. It's how Obamacare was passed, the Inflation 328 00:16:38,520 --> 00:16:43,040 Speaker 1: Reduction Act was passed. But there are very rigid, you know, 329 00:16:43,200 --> 00:16:46,560 Speaker 1: ourcane rules in the Senate that have to be approved 330 00:16:46,560 --> 00:16:50,320 Speaker 1: by one person, quote, the Senate Parliamentarian. So and they 331 00:16:50,440 --> 00:16:52,560 Speaker 1: must all have to do with spending. And I know 332 00:16:52,600 --> 00:16:55,840 Speaker 1: it sounds complicated because it is, and it's unnecessarily so, 333 00:16:55,920 --> 00:16:59,200 Speaker 1: but Ram Paul's with us. I really want your thoughts 334 00:16:59,200 --> 00:17:02,120 Speaker 1: on this and what would get Rand Paul to a 335 00:17:02,280 --> 00:17:06,560 Speaker 1: yes on this one big, beautiful bill. Knowing that you're 336 00:17:06,600 --> 00:17:08,520 Speaker 1: not going to get everything you want, nobody's going to 337 00:17:08,560 --> 00:17:11,000 Speaker 1: get everything they want here because of those rules. 338 00:17:11,880 --> 00:17:13,480 Speaker 2: Well, I think you're right. And the main thrust of 339 00:17:13,520 --> 00:17:15,800 Speaker 2: the bill is to make the tax cuts that I've 340 00:17:15,840 --> 00:17:18,480 Speaker 2: supported and voted for from twenty seventeen, to make a 341 00:17:18,480 --> 00:17:21,400 Speaker 2: lot of them permanent, to add in some new tax cuts. 342 00:17:21,640 --> 00:17:24,439 Speaker 2: I am always been in favor of letting the money 343 00:17:24,440 --> 00:17:26,320 Speaker 2: remain in the hands of those who earn it, you know, 344 00:17:26,400 --> 00:17:28,960 Speaker 2: try to keep it in the private marketplace, keep government small, 345 00:17:29,000 --> 00:17:31,840 Speaker 2: and not increase taxes. So that I'm for. There is 346 00:17:31,880 --> 00:17:34,400 Speaker 2: some spending cuts. I wish there were more. But even 347 00:17:34,440 --> 00:17:36,639 Speaker 2: though they're imperfect and I won't get everything I want them, 348 00:17:36,640 --> 00:17:40,240 Speaker 2: the spending cuts, I will support. What spending cuts. The 349 00:17:40,440 --> 00:17:43,160 Speaker 2: deal killer for me, and the heartburn and the heartache 350 00:17:43,440 --> 00:17:46,560 Speaker 2: comes from increasing the debt, sealing five trillion dollars. And 351 00:17:47,000 --> 00:17:49,320 Speaker 2: I've build the president this, but I've also told the 352 00:17:49,400 --> 00:17:52,359 Speaker 2: leadership for months and months now, I won't support raising 353 00:17:52,359 --> 00:17:55,600 Speaker 2: the debt sealing five trillion, because once I'm gone, once 354 00:17:55,640 --> 00:17:59,760 Speaker 2: there is no me or anybody else like me supporting. 355 00:18:00,680 --> 00:18:02,280 Speaker 1: Where are you going? You're a young man. 356 00:18:02,800 --> 00:18:05,119 Speaker 2: Well, now what I'm seeing. What I'm saying is is 357 00:18:05,160 --> 00:18:08,520 Speaker 2: that once there are no more Conservatives left, if everybody 358 00:18:08,560 --> 00:18:11,359 Speaker 2: votes to raise the debt feeling five trillion, the Conservative 359 00:18:11,359 --> 00:18:14,439 Speaker 2: movement's gone. It's done for seeing the past. This has 360 00:18:14,480 --> 00:18:17,679 Speaker 2: always been a Democrat process. We've never ever raised the 361 00:18:17,680 --> 00:18:20,359 Speaker 2: debt ceiling without all the Democrats and the big government 362 00:18:20,400 --> 00:18:23,480 Speaker 2: Republicans voting for it. Conservatives have never voted to raise 363 00:18:23,480 --> 00:18:26,240 Speaker 2: the debt ceiling. Ever, this will be the first time 364 00:18:26,760 --> 00:18:29,679 Speaker 2: that the conservative movement gets behind raising the debt ceiling. 365 00:18:29,760 --> 00:18:32,120 Speaker 2: To me, it means that from now on the debt 366 00:18:32,160 --> 00:18:34,480 Speaker 2: will be owned by the Republicans. It will no longer 367 00:18:34,520 --> 00:18:37,400 Speaker 2: be a wedge issue where we say the big spenders. 368 00:18:37,400 --> 00:18:39,119 Speaker 2: You know, we have some bat ones on our side. 369 00:18:39,160 --> 00:18:41,359 Speaker 2: We got the Democrats. But now it's going to be 370 00:18:41,400 --> 00:18:43,640 Speaker 2: passed by the Republicans and it will be five trillion. 371 00:18:44,200 --> 00:18:46,240 Speaker 2: The deficit this year is going to be two point 372 00:18:46,240 --> 00:18:49,879 Speaker 2: two trillion, and in March most of the Republicans, not me, 373 00:18:50,000 --> 00:18:50,480 Speaker 2: but they are. 374 00:18:50,560 --> 00:18:55,000 Speaker 1: In fairness though, the deficit this year is really Biden 375 00:18:55,000 --> 00:18:58,400 Speaker 1: and Harris's economy. You would agree with that, it's. 376 00:18:58,240 --> 00:19:01,520 Speaker 2: Actually both because in Marchblicans voted to continue the Biden 377 00:19:01,600 --> 00:19:04,359 Speaker 2: spending levels. So I voted no in March, but the 378 00:19:04,359 --> 00:19:07,720 Speaker 2: Republicans all voted yes, most of them, and they continued 379 00:19:07,760 --> 00:19:09,520 Speaker 2: the Biden spending levels to the end of the year. 380 00:19:09,560 --> 00:19:12,280 Speaker 2: So the first six months belonged to Biden, the second 381 00:19:12,320 --> 00:19:14,520 Speaker 2: six months we belonged to the Republicans, and come the 382 00:19:14,600 --> 00:19:18,120 Speaker 2: end of September thirtieth, the Biden spending levels, which became 383 00:19:18,160 --> 00:19:21,399 Speaker 2: the Republican spending levels halfway through the year, will end 384 00:19:21,480 --> 00:19:23,639 Speaker 2: up with the two point two trillion dollars deficits that 385 00:19:23,680 --> 00:19:27,119 Speaker 2: the Republicans who voted for this are now responsible for. Well, 386 00:19:27,160 --> 00:19:27,880 Speaker 2: what's even more. 387 00:19:27,840 --> 00:19:31,399 Speaker 1: Well, are you factoring in this? Let's go back to 388 00:19:31,440 --> 00:19:34,520 Speaker 1: the Reagan years, because I think we both were admirers 389 00:19:34,560 --> 00:19:37,840 Speaker 1: of Reagan the Reagan tax cuts, and these tax cuts 390 00:19:37,840 --> 00:19:40,960 Speaker 1: are way bigger than the Reagan tax cuts. This will 391 00:19:41,000 --> 00:19:45,639 Speaker 1: be the largest tax cut in American history. It resulted 392 00:19:45,640 --> 00:19:49,840 Speaker 1: in a doubling of revenues to the federal government, and 393 00:19:49,880 --> 00:19:52,760 Speaker 1: it resulted in the creation of twenty one million new jobs, 394 00:19:53,000 --> 00:19:56,560 Speaker 1: and it resulted in the longest period of peacetime economic 395 00:19:56,600 --> 00:20:00,359 Speaker 1: growth up in history up until that point. And we 396 00:20:00,400 --> 00:20:03,359 Speaker 1: saw with the first Trump turn the tax cuts again 397 00:20:03,520 --> 00:20:06,840 Speaker 1: putting aside COVID and the debt deficits that took place 398 00:20:06,840 --> 00:20:09,200 Speaker 1: as a result of that. Take those years, extrapolate out 399 00:20:09,200 --> 00:20:12,919 Speaker 1: those years twenty twenty, twenty twenty one, and if you 400 00:20:13,000 --> 00:20:18,400 Speaker 1: extrapolate that out, I mean, we had incredible, massive growth. 401 00:20:18,920 --> 00:20:24,560 Speaker 1: But you're right about spending. Now, isn't this about reducing 402 00:20:25,320 --> 00:20:30,040 Speaker 1: baseline budgeting, eliminating baseline budgeting, and reducing the rate of 403 00:20:30,160 --> 00:20:33,800 Speaker 1: growth of government. Like for example, every new dollar that 404 00:20:33,840 --> 00:20:37,400 Speaker 1: Reagan brought in, he doubled revenues. Congress spent a dollar 405 00:20:37,520 --> 00:20:40,480 Speaker 1: twenty five At the time didn't seem like a lot. 406 00:20:40,560 --> 00:20:42,720 Speaker 1: The deficit, you know, we're talking about five hundred millions 407 00:20:42,800 --> 00:20:45,520 Speaker 1: over a billion dollars, I mean, chump change compared to 408 00:20:45,560 --> 00:20:49,480 Speaker 1: what we spend today. But don't you think that if 409 00:20:49,480 --> 00:20:52,120 Speaker 1: the economy's going to have an infusion of ten trillion, 410 00:20:52,160 --> 00:20:57,639 Speaker 1: an investment, lower tax cuts, more Americans working workfare versus 411 00:20:57,760 --> 00:21:00,680 Speaker 1: you know, free benefits, that there's going to be cost 412 00:21:00,680 --> 00:21:03,639 Speaker 1: savings associated with that, and an increase in revenues that 413 00:21:03,680 --> 00:21:06,200 Speaker 1: hopefully can compensate and bring us to a balanced budget, 414 00:21:06,200 --> 00:21:07,400 Speaker 1: because that's what I'm hoping for. 415 00:21:07,920 --> 00:21:11,000 Speaker 2: You're exactly right about the Reagan years. In the Reagan years, 416 00:21:11,080 --> 00:21:14,639 Speaker 2: taxes were cut significantly in revenue roads. When you let 417 00:21:14,640 --> 00:21:16,199 Speaker 2: people keep more of their money and they paid a 418 00:21:16,200 --> 00:21:18,760 Speaker 2: lower rate, they worked harder and more revenue came in. 419 00:21:19,240 --> 00:21:21,760 Speaker 2: But the debt went up dramatically under Reagan because they 420 00:21:21,800 --> 00:21:25,120 Speaker 2: weren't able to control spending, and it was a bipartisan problem. 421 00:21:25,560 --> 00:21:27,960 Speaker 2: It's the exact same problem we face now. I'm both 422 00:21:28,000 --> 00:21:30,720 Speaker 2: the tax cuts. I think the CBO is wrong. I 423 00:21:30,720 --> 00:21:33,680 Speaker 2: think they will bring in more revenue, but the spending 424 00:21:33,760 --> 00:21:37,320 Speaker 2: has gone on without any lessening. And so in March 425 00:21:37,400 --> 00:21:40,480 Speaker 2: of this year, the Republicans all voted to continue the 426 00:21:40,520 --> 00:21:41,520 Speaker 2: Biden spending level. 427 00:21:42,200 --> 00:21:43,960 Speaker 1: You're talking about the cr the past. 428 00:21:44,520 --> 00:21:46,720 Speaker 2: Yeah, well they continued the same spending level. 429 00:21:46,720 --> 00:21:48,960 Speaker 1: Well what was the option if you didn't, if you 430 00:21:49,000 --> 00:21:52,080 Speaker 1: didn't continue to fund the government. And I'm not one 431 00:21:52,119 --> 00:21:55,080 Speaker 1: that fears government shutdowns, but at some point they would 432 00:21:55,119 --> 00:21:59,320 Speaker 1: would have. You would have needed a resolution, the same. 433 00:21:59,119 --> 00:22:01,520 Speaker 2: Option as we all have. Somebody needs to have the 434 00:22:01,640 --> 00:22:03,520 Speaker 2: courage to stand up and say we're not going to 435 00:22:03,600 --> 00:22:05,879 Speaker 2: do it, and that the deficit's going to consume the 436 00:22:05,920 --> 00:22:08,480 Speaker 2: country and we have to reduce spending. But they didn't 437 00:22:08,520 --> 00:22:10,600 Speaker 2: do that. They voted for the Biden spending level. So 438 00:22:10,680 --> 00:22:13,800 Speaker 2: now the debt belongs to the Republicans. But if they 439 00:22:13,880 --> 00:22:15,840 Speaker 2: vote for the debt ceiling to go at five trillion, 440 00:22:16,400 --> 00:22:18,440 Speaker 2: it means that not only will the deficit be two 441 00:22:18,520 --> 00:22:21,680 Speaker 2: point two trillion this year, they're anticipating two point eight 442 00:22:21,720 --> 00:22:25,200 Speaker 2: trillion for next year. So they're borrowing five trillion dollars. 443 00:22:25,240 --> 00:22:28,360 Speaker 2: And we've never ever borrowed this much. And every time 444 00:22:28,400 --> 00:22:31,040 Speaker 2: we've set a limit, we always reach it. So if 445 00:22:31,080 --> 00:22:33,000 Speaker 2: you set a limit that high, it just means that, 446 00:22:33,480 --> 00:22:36,720 Speaker 2: you know, the roller coaster, you know, the descent into 447 00:22:36,760 --> 00:22:41,040 Speaker 2: this debt, it continues a pace, and I'm worried about it. 448 00:22:41,080 --> 00:22:43,760 Speaker 2: I'm looking at the bond market. I'm looking at interest rates. 449 00:22:44,520 --> 00:22:47,640 Speaker 2: We used to pay one point seven percent on average 450 00:22:47,640 --> 00:22:50,840 Speaker 2: for the US debt. Now it's three point five. But 451 00:22:50,960 --> 00:22:53,760 Speaker 2: that hasn't figured in the late the latest interest rates 452 00:22:53,760 --> 00:22:57,159 Speaker 2: when they get figured into all the Treasury bills, if 453 00:22:57,200 --> 00:22:59,160 Speaker 2: we're paying it five percent, if it goes from three 454 00:22:59,200 --> 00:23:01,880 Speaker 2: point five to five. It's going to devastate the whole 455 00:23:02,040 --> 00:23:03,119 Speaker 2: entire government's going. 456 00:23:03,000 --> 00:23:07,320 Speaker 1: To be But don't you blame a FED chair Powell. 457 00:23:07,800 --> 00:23:11,119 Speaker 1: You know what has been Their implation is running at 458 00:23:11,160 --> 00:23:15,320 Speaker 1: two point one percent right now, okay, and the fedce 459 00:23:15,400 --> 00:23:18,840 Speaker 1: target is two percent. The Atlanta Fed has just put 460 00:23:18,840 --> 00:23:21,760 Speaker 1: out an estimate yesterday. The GDP growth over the first 461 00:23:21,880 --> 00:23:24,200 Speaker 1: two months of the second quarter is now four point 462 00:23:24,200 --> 00:23:29,359 Speaker 1: six percent. If you look at other indicators, consumer confidence 463 00:23:29,400 --> 00:23:32,879 Speaker 1: is up to a four year high. Employment is now, 464 00:23:33,320 --> 00:23:36,880 Speaker 1: you know, growing dramatically. Now we're going to have massive 465 00:23:37,119 --> 00:23:41,080 Speaker 1: amounts of increases in revenue, I believe because the President 466 00:23:41,160 --> 00:23:44,240 Speaker 1: opening up energy in this country to become energy dominant. 467 00:23:44,280 --> 00:23:46,760 Speaker 1: I think that will help the ten trillion dollars that 468 00:23:46,800 --> 00:23:49,160 Speaker 1: I refer to. I think that will help. The tax cuts. 469 00:23:49,200 --> 00:23:52,480 Speaker 1: I believe that will help. I also believe the Republican 470 00:23:52,520 --> 00:23:55,439 Speaker 1: Party now becomes the party of working men and women, 471 00:23:56,119 --> 00:23:59,080 Speaker 1: and the Democrats are the party of you know, woke. 472 00:23:59,400 --> 00:24:03,639 Speaker 1: Coastal LA leads. Job openings, by the way, showed another 473 00:24:03,800 --> 00:24:07,000 Speaker 1: unexpected increase in April. It's always unexpected when it's Trump. 474 00:24:07,720 --> 00:24:10,040 Speaker 1: When you factor in all of that, and I agree 475 00:24:10,119 --> 00:24:12,720 Speaker 1: in principle with you, I don't. I would have adopted 476 00:24:12,720 --> 00:24:15,640 Speaker 1: the Penny plan, Connie Max's Penny plan in your plan 477 00:24:15,760 --> 00:24:18,400 Speaker 1: years ago, but they didn't do it. And I would 478 00:24:18,440 --> 00:24:21,400 Speaker 1: actually think about bringing some maybe called the Nickel Plan 479 00:24:21,480 --> 00:24:26,960 Speaker 1: at this point. But we also have extenuating circumstances. We 480 00:24:27,000 --> 00:24:29,960 Speaker 1: have to secure our borders. We've we've got to expel 481 00:24:30,359 --> 00:24:33,320 Speaker 1: illegal immigrants. We've got that we need the next generation 482 00:24:33,440 --> 00:24:36,960 Speaker 1: of weaponry because we're behind. We don't even have hypersonics, 483 00:24:37,000 --> 00:24:40,440 Speaker 1: but China and Russia do, so I'm worried about all 484 00:24:40,440 --> 00:24:42,800 Speaker 1: those factors as well. There's a lot going on here 485 00:24:42,880 --> 00:24:44,000 Speaker 1: and a lot to consider. 486 00:24:44,680 --> 00:24:47,880 Speaker 2: I think the cautionary tale is that, you know, they 487 00:24:48,119 --> 00:24:50,960 Speaker 2: went to sell ten ure bonds this last week and 488 00:24:51,000 --> 00:24:53,360 Speaker 2: there were many less offers for the bonds, and there 489 00:24:53,400 --> 00:24:56,640 Speaker 2: have been in recent times. And the interest they had 490 00:24:56,640 --> 00:24:58,879 Speaker 2: to pay is and this is the market determining and 491 00:24:59,000 --> 00:25:02,160 Speaker 2: not not foul. The market determined they had to pay 492 00:25:02,160 --> 00:25:05,439 Speaker 2: over five percent for ten year bonds. And so as 493 00:25:05,480 --> 00:25:07,920 Speaker 2: those interest rates rise, it means that people are getting 494 00:25:07,960 --> 00:25:12,080 Speaker 2: skittish and investors are getting skittish about buying American death. 495 00:25:12,760 --> 00:25:16,240 Speaker 2: I don't want our country to, you know, go into insultancy. 496 00:25:16,240 --> 00:25:18,359 Speaker 2: I don't want the country and we could wake up 497 00:25:18,359 --> 00:25:21,480 Speaker 2: one day and this happened. It might happen gradually, but 498 00:25:21,520 --> 00:25:24,080 Speaker 2: it might happen in a week or in six months. 499 00:25:24,400 --> 00:25:28,359 Speaker 2: You can have dramatic uphevils for people who's confidence. And 500 00:25:28,400 --> 00:25:31,280 Speaker 2: I think when both parties are blively spending money, no 501 00:25:31,280 --> 00:25:35,080 Speaker 2: one's willing to touch the entitlements we've taken Medicare, Medicaid 502 00:25:35,119 --> 00:25:39,080 Speaker 2: and SOB security off off of the table. There is 503 00:25:39,119 --> 00:25:41,560 Speaker 2: a great deal of concern that we get to a 504 00:25:41,640 --> 00:25:44,880 Speaker 2: point and there's going to be a sastrophe and there 505 00:25:44,920 --> 00:25:47,520 Speaker 2: has to be somebody out there, you know, you know, 506 00:25:47,600 --> 00:25:49,760 Speaker 2: some kind of canary in the coal mine saying we've 507 00:25:49,760 --> 00:25:51,800 Speaker 2: got a real problem and somebody's got to do something 508 00:25:51,840 --> 00:25:52,560 Speaker 2: about spending. 509 00:25:54,119 --> 00:25:56,760 Speaker 1: Listen. I'm in favor of all of it. And I 510 00:25:57,240 --> 00:26:00,320 Speaker 1: was actually sad to see Elon Musko, and I'm sad 511 00:26:00,359 --> 00:26:03,439 Speaker 1: to see what he went through because it's not a 512 00:26:03,480 --> 00:26:06,360 Speaker 1: small thing that he was able to identify over two 513 00:26:06,440 --> 00:26:09,440 Speaker 1: hundred billion dollars in waste for aud abuse and corruption. 514 00:26:10,200 --> 00:26:13,320 Speaker 1: And I'd like to see that DOGE mission continue in 515 00:26:14,040 --> 00:26:17,840 Speaker 1: every aspect and every crevice and corner of the federal government, 516 00:26:18,240 --> 00:26:21,480 Speaker 1: and I'd like to like you to return to constitutional order. 517 00:26:22,520 --> 00:26:26,560 Speaker 1: My take is is if the House and SENEC can 518 00:26:27,080 --> 00:26:29,520 Speaker 1: can go into conference and come out with a bill, 519 00:26:30,280 --> 00:26:33,399 Speaker 1: that's a good start, considering the tax cuts that are 520 00:26:33,400 --> 00:26:36,000 Speaker 1: the largest in history and all the things that we've discussed. 521 00:26:36,520 --> 00:26:38,439 Speaker 1: But then I think the next level is a return 522 00:26:38,520 --> 00:26:43,080 Speaker 1: to constitutional order, and that means putting forward budgets and 523 00:26:43,119 --> 00:26:45,840 Speaker 1: getting him done by September thirtieth for the next fiscal 524 00:26:45,880 --> 00:26:48,879 Speaker 1: year October first, and that's where I'd like to see 525 00:26:49,240 --> 00:26:55,120 Speaker 1: maybe the process of definitely reducing rates of increase and 526 00:26:55,280 --> 00:26:59,440 Speaker 1: eliminating baseline budgeting and more DOGE cuts across the board 527 00:26:59,440 --> 00:27:02,080 Speaker 1: in every apartment. I think there's a long way we 528 00:27:02,119 --> 00:27:03,800 Speaker 1: can go that. I think there's still a ton of 529 00:27:03,800 --> 00:27:04,760 Speaker 1: waste for odden abuse. 530 00:27:05,480 --> 00:27:08,200 Speaker 2: Well, I've told the President I'm supportive of the tax cuts. 531 00:27:08,320 --> 00:27:10,399 Speaker 2: I can support the bill if we separate out the 532 00:27:10,440 --> 00:27:13,080 Speaker 2: debt ceiling from the bill. So they need my vote. 533 00:27:13,080 --> 00:27:16,520 Speaker 2: I'm very much available. I've supported the president's commit I've 534 00:27:16,520 --> 00:27:20,840 Speaker 2: supported the president's nomination, so I was probably his biggest 535 00:27:20,840 --> 00:27:25,200 Speaker 2: defender on the sake impeachant artisan impeachment. So it doesn't 536 00:27:25,200 --> 00:27:27,040 Speaker 2: mean we're going to agree on everything, but on this, 537 00:27:27,359 --> 00:27:30,040 Speaker 2: you know, I can't be true to the things that 538 00:27:30,119 --> 00:27:33,000 Speaker 2: I've run for and the things that you know, we 539 00:27:33,080 --> 00:27:35,280 Speaker 2: say we're going to represent. And that is the deficit 540 00:27:35,760 --> 00:27:37,920 Speaker 2: is too large and we have to do something about it. 541 00:27:38,440 --> 00:27:40,320 Speaker 2: And so I just have to be honest that I'm 542 00:27:40,440 --> 00:27:44,280 Speaker 2: very worried about not not being more having more significant 543 00:27:44,280 --> 00:27:46,240 Speaker 2: spending cuts, and about borrowing so much. 544 00:27:47,440 --> 00:27:50,240 Speaker 1: I just think there's got to be a way to 545 00:27:50,440 --> 00:27:52,760 Speaker 1: limit it. I mean, back in the day, didn't you 546 00:27:52,800 --> 00:27:53,840 Speaker 1: support the Penny Plan? 547 00:27:55,160 --> 00:27:55,440 Speaker 2: Yep? 548 00:27:56,760 --> 00:27:59,040 Speaker 1: Yeah, I mean you were want you were in the 549 00:27:59,080 --> 00:28:00,680 Speaker 1: Senate and Connie Act was in the. 550 00:28:00,600 --> 00:28:04,439 Speaker 2: House, right, Yeah, And I've had it for almost a 551 00:28:04,520 --> 00:28:07,360 Speaker 2: decade now. It actually is a six penny plan because 552 00:28:07,800 --> 00:28:11,480 Speaker 2: the COVID spending went up so much that they you know, 553 00:28:11,520 --> 00:28:13,520 Speaker 2: it now takes a six percent cut to get the 554 00:28:13,520 --> 00:28:16,280 Speaker 2: balance in five years. But it only works if you 555 00:28:16,320 --> 00:28:19,520 Speaker 2: look at all the entitlements. See, we've the current plan 556 00:28:19,560 --> 00:28:22,960 Speaker 2: has taken all the entitlements off the table. Even the 557 00:28:23,080 --> 00:28:26,520 Speaker 2: Medicaid so called reforms may or may not say what 558 00:28:26,560 --> 00:28:28,320 Speaker 2: they said are going to say, but we're really not 559 00:28:29,040 --> 00:28:32,399 Speaker 2: going to have significant Medicaid savings. 560 00:28:32,880 --> 00:28:37,520 Speaker 1: And the Medicaid expending has exploded. Senator. We appreciate the 561 00:28:37,560 --> 00:28:41,640 Speaker 1: extra time. Thank you, sir, We appreciate it. Ramfall eight 562 00:28:41,720 --> 00:28:43,560 Speaker 1: hundred and nine four one Shawn is a number. 563 00:28:43,800 --> 00:28:44,080 Speaker 2: All right. 564 00:28:44,080 --> 00:28:46,320 Speaker 1: That's going to wrap things so for today. Hannity Tonight, 565 00:28:46,440 --> 00:28:51,480 Speaker 1: nine eastern on the Fox News Channel. James Comer, Massive Investigations, 566 00:28:51,520 --> 00:28:53,600 Speaker 1: What did they know? When did they know it? Who 567 00:28:53,680 --> 00:28:57,760 Speaker 1: was really in charge? Who used the auto pen? Also Newkingridge, 568 00:28:57,760 --> 00:29:01,320 Speaker 1: Greg Jarrett, Steve Moore on the Incredible Economic News, Matt 569 00:29:01,400 --> 00:29:04,520 Speaker 1: Towry on polling, Clay Travis in our other News of 570 00:29:04,560 --> 00:29:07,640 Speaker 1: the day segments. Say you DVR tonight Hannity, nine eastern 571 00:29:07,680 --> 00:29:10,320 Speaker 1: on Fox. We'll see then back here tomorrow. Thank you 572 00:29:10,400 --> 00:29:11,760 Speaker 1: for making this show possible.