Bannon's War Room - April 20, 2023


Episode 2675： The Failing Trojectory Of The Economy; Drawing A Hard Line On The Debt Ceiling


Episode Stats


Length

56 minutes

Words per minute

178.12862

Word count

10,023

Sentence count

837

Harmful content

Misogyny

9

sentences flagged

Hate speech

12

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

As the clock ticks toward the deadline to raise the U.S. debt ceiling, President Trump and House Speaker Paul Ryan have yet to come to an agreement on a compromise on a solution to the $16.7 trillion debt ceiling and the threat of default.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:01.000 This is the primal scream of a dying regime.
00:00:06.000 Pray for our enemies.
00:00:08.000 Because we're going medieval on these people.
00:00:11.000 Here's the time I got a free shot at all these networks lying about the people.
00:00:15.000 The people have had a belly full of it.
00:00:17.000 I know you don't like hearing that.
00:00:19.000 I know you've tried to do everything in the world to stop that,
00:00:21.000 but you're not going to stop it. It's going to happen.
00:00:23.000 And where do people like that go to share the big lie?
00:00:26.000 MAGA Media.
00:00:28.000 I wish in my soul, I wish that any of these people had a conscience.
00:00:33.000 Ask yourself, what is my task and what is my purpose?
00:00:37.000 If that answer is to save my country, this country will be saved.
00:00:43.000 War Room. Here's your host, Stephen K. Bannon.
00:00:52.000 A little from House Republicans on the issues of guns yesterday,
00:00:55.000 but we did finally get from House Speaker McCarthy.
00:00:57.000 We've got his budget in recent days and now his debt limit plan.
00:01:01.000 And we wanted to get the White House reaction to what he has proposed.
00:01:05.000 And can you tell us, are there any meeting scheduled right now between the President and the House Speaker
00:01:10.000 as the clock ticks towards the fiscal deadline?
00:01:12.000 So a couple of things I want to say, Jonathan.
00:01:15.000 Let me just react to the blueprint, the legislation that Speaker McCarthy and the MAGA wing of his conference.
00:01:22.000 That's what we saw.
00:01:23.000 They came together.
00:01:24.000 He aligned himself with them and put forth a cruel proposal, a proposal that is going to devastate working American families.
00:01:32.000 That's what this proposal is going to do at the same time.
00:01:36.000 It will hold America's economy hostage so that they can take a hatchet to veteran services, to meals on wheels, to education, to cancer research, to law enforcement.
00:01:48.000 That's what they put forth for the American people.
00:01:51.000 Now you're asking me about a potential meeting.
00:01:53.000 Look, we're going to continue to take a look at this legislation.
00:01:58.000 We're going to analyze the impacts that it will have on, again, veterans services, again, education, cancer research.
00:02:06.000 And you know what?
00:02:07.000 The President, as you've heard the President say many times, don't tell me what you value.
00:02:10.000 Show me your budget and I'll tell you what you value.
00:02:13.000 Well, they showed us what they value.
00:02:15.000 Speaker McCarthy and MAGA Republicans showed us what they valued.
00:02:19.000 And this is what the American people have to look at, right?
00:02:22.000 And so we are going to continue to make sure, we saw this in the President's budget, that we lower costs for Americans, that he is continuing to make sure that we fight to lower the deficit.
00:02:33.000 That's what he put forth in his proposal.
00:02:36.000 He's going to lower the deficit by $3 billion over 10 years.
00:02:40.000 He has showed us our value and we're going to continue to be happy to have that conversation about the budget.
00:02:46.000 But when it comes to the debt, the debt limit, they need to, Speaker McCarthy needs to put a piece of legislation on the floor to deal with the debt limit, to make sure that we do not default.
00:02:57.000 Something that he did three times before in the last administration.
00:03:01.000 And certainly his voting record speaks for itself.
00:03:03.000 But with the fundamental impasse here and a disagreement as to what you guys are even negotiating, White House versus the House Republicans.
00:03:10.000 What do you say to those who are really growing alarmed at the time?
00:03:13.000 Because we got an update this week that there's an estimation that because of lighter than expected tax returns heading to the Treasury, the U.S. may be on the verge of default come June.
00:03:23.000 Not August as we thought, but come June, just maybe six or so weeks away.
00:03:28.000 Again, Jonathan, I'm going to be very clear.
00:03:31.000 We have not missed words on this.
00:03:32.000 We have been clear for the past six plus more weeks, which is Speaker McCarthy needs to stop playing chicken with the full faith and credit of our nation.
00:03:42.000 He needs to put forth immediately a piece of legislation so that we do not default.
00:03:47.000 This happens.
00:03:48.000 He Democrats joined Republicans last administration three times to get this done.
00:03:54.000 The president said this on Monday as well, which is the speaker.
00:03:57.000 Speaker McCarthy will be the first speaker to threaten to threaten a default on our nation.
00:04:03.000 So this is something that is their constitutional duty to do.
00:04:07.000 They can do this.
00:04:09.000 They could immediately put, again, a bill on the floor for a for to avoid a default.
00:04:16.000 And that is on Congress to do again.
00:04:19.000 It is their constitutional duty to get this done.
00:04:22.000 Yeah, I want making you to look at the what's up right now.
00:04:26.000 And if people are listening on the radio, it what we have up is a chart that shows that the debt ceiling has been raised since 1960.
00:04:36.000 Twenty nine times under Democratic presidents, but forty nine times under Republican presidents, forty nine times.
00:04:45.000 And so now suddenly these Republicans that broke all records for deficits and debts under Donald Trump are suddenly claiming that they really care about deficits and that it doesn't wash.
00:04:57.000 By the way, I said this in twenty seventeen, twenty eighteen, twenty nine times.
00:05:03.000 And twenty twenty about Republicans is that don't claim if you're not going to fight your own Republican president, who's a big spender breaking records every year with budget busting budgets.
00:05:16.000 Don't do it when there's a Democrat in office.
00:05:19.000 Don't do it when there's a Democrat in office.
00:05:20.000 But now they're doing it.
00:05:21.000 And as Green said, they're actually risking the full faith and credit of the United States of America.
00:05:30.000 And what does that mean?
00:05:33.000 Well, it means three million Americans will likely lose their jobs if there's this default.
00:05:41.000 And we face the economic consequences.
00:05:43.000 Three million Americans.
00:05:45.000 That means if you have a 401k on average, you're going to lose about twenty thousand dollars.
00:05:53.000 Kevin McCarthy and this Republican Congress who spent like drunken socialists when Donald Trump was president.
00:06:03.000 They're going to cost you twenty thousand dollars.
00:06:07.000 I can't take it. I can't.
00:06:08.000 I can't. I can't take any more than that.
00:06:10.000 Just Denver, if you just hold it right there, I'm gonna come back to that.
00:06:13.000 It's Thursday, 20 April, year of our Lord.
00:06:16.000 Twenty twenty three.
00:06:18.000 I told you we're going to get into this and it's going to be a firestorm with the firestorms is kicking off.
00:06:23.000 McCarthy has finally put Speaker McCarthy's finally put together the skeleton of a plan.
00:06:29.000 And you see already the immediate blowback.
00:06:32.000 We've got Kerry Sheffield and Steve Cortez to start off to kind of frame this for us.
00:06:37.000 Let's start with Cortez.
00:06:38.000 Cortez, Kevin McCarthy has put out something that he's trying to get to 218 on and compliments to Speaker McCarthy.
00:06:46.000 He has followed closer to the House Freedom Caucus in the hardcore than to the moderates.
00:06:54.000 And Kerry's going to talk about in a second some of these misdirection plays on on commissions and things like that.
00:07:00.000 But give me your assessment of Joe Scarborough, because this is going to be the barrage you're going to hear that we're jeopardizing the full faith and credit.
00:07:09.000 We're going to default. This is all the Republicans fault.
00:07:12.000 This is these and these meanies are taking away meals on wheels and all of it. 1.00
00:07:16.000 Give us your your first cut assessment on the opening salvo here, sir.
00:07:19.000 Sure. A couple of really important points.
00:07:21.000 First on default, as you have correctly pointed out many, many times, and I would say correctly predicted because I think you were the first major figure in politics to talk about this.
00:07:31.000 We do not have to default if we default. That is a choice of the White House.
00:07:36.000 Why? Because we can prioritize payments because tax receipts continue to flow in to the United States Treasury, not at the rate that they should be because of the weakness of Joe Biden's economy.
00:07:46.000 We showed that statistic yesterday. But nonetheless, tax receipts come in plenty to pay for the things that the United States needs to do, including servicing the debt obligation.
00:07:57.000 So that's number one. We do not have to default.
00:07:59.000 But number two, to this important point about the Democrats, Corinne Jean-Pierre, Joe Biden, the corporate media, all of them screaming that there's something draconian or cruel about going back to last year's spending level.
00:08:12.000 Now, I don't remember any of them, Steve, in 2022 saying this is a cruel budget that we are passing at the behest of Joe Biden.
00:08:19.000 I don't remember any of them saying that there was cruelty in the spending levels of 2022.
00:08:24.000 So I think what Speaker McCarthy has put forward here is a very, very sensible.
00:08:28.000 Now, if it were up to me, I would be a bit more aggressive.
00:08:31.000 But I understand he's got to get to a majority and that will not be easy with it with an only five seat majority lead for Republicans in the House.
00:08:39.000 But a very sensible starting point to say, hey, let's all agree that last year, as exorbitant as that spending was, we're not going to make it worse.
00:08:47.340 So it's sort of like doctors saying the hypocritical first do no harm.
00:08:50.700 OK, we're not going to make it any worse than that.
00:08:53.200 That is a very sensible starting point.
00:08:55.580 And for the leftists to come out and the corporate media cheerleading them to try to say that that is somehow cruel or that is somehow a cut.
00:09:02.000 Remember that, too, Steve. This is so important.
00:09:03.720 According to the left, not increasing, not dramatically increasing spending is a cut.
00:09:09.820 OK, in no other part of life or mathematics is that correct.
00:09:14.280 Staying at last year's level is not a cut by definition.
00:09:18.800 I want I want to put a pin on what Steve Cortez is saying.
00:09:21.580 We're going to come back to it because sensible and has a certain internal logic to it.
00:09:24.780 Remember, one of the things we pride ourselves here in the war room is being, you know, insensible that that somebody's got to take somebody's got to be the dead ender.
00:09:34.700 Somebody's got to take the hard line that draws the whole conversation or talk about that, because what McCarthy did is quite is quite sensible about how to pull a coalition is a coalition government on our side.
00:09:45.640 And he did take a lot from the House Freedom Caucus.
00:09:48.500 Eli Crane is going to be on the second hour to talk about that.
00:09:50.980 We're going to come back in detail on this.
00:09:52.360 But I want to go to Kerry Sheffield, senior policy analyst over the Independent Woman's Voice.
00:09:57.500 There's a lot of the moderates are jumping in here and saying, hey, what we got to do is let's have a cooling off period.
00:10:04.340 Let's work out a deal we can live with and let's get a commission.
00:10:07.580 Let's get a commission on Social Security.
00:10:09.140 Let's get a commission on Medicare.
00:10:11.140 Let's get a commission on spending.
00:10:13.020 And Kerry Sheffield, your assessment and analysis of that, ma'am.
00:10:17.620 Hey, good morning, Steve.
00:10:19.040 Yeah, I am not buying it for one second.
00:10:21.260 I think this is a Trojan horse.
00:10:22.880 So what we have is a proposal that's been put forward by they're calling themselves the Problem Solvers Caucus, 64 members on both the left and the right here.
00:10:32.340 And they're trying to say we're the moderates, we're the reasonable, the grownups in the room.
00:10:36.680 And what they're proposing is to just kick the can down the road with the debt ceiling.
00:10:41.500 So put no strings attached, increasing the debt ceiling through December 31st of this year.
00:10:46.780 And then they say here's the here's their little secret sauce is that they want to have a fiscal commission to review and recommend a package to stabilize the long term deficits and debt.
00:10:57.760 They say the report's going to be due no later than December 31st, 2024, and must receive expedited consideration with an up or down vote in Congress by February 28th, 2025.
00:11:09.640 So I know, Steve, you and I, we weren't born yesterday.
00:11:14.540 That sort of timeline, I don't buy it for one second that they would actually adhere to it, let alone actually do anything substantive as a result of this commission.
00:11:23.220 This is swamp behavior.
00:11:26.960 And, you know, when you're coming out of addiction, sometimes you have to hit rock bottom.
00:11:31.600 And the truth of the matter is our debt to GDP ratio is at World War Two levels.
00:11:36.920 We're spending like there's no tomorrow.
00:11:39.020 And here's what's even worse.
00:11:41.020 It's projected to get even far greater by 2040 than anywhere close to what we saw in World War Two.
00:11:48.000 So we're behaving as if we're in a cataclysmic war level spending.
00:11:53.260 But what is this money all going to?
00:11:54.960 It's going to people who don't even want to work in order to get welfare.
00:11:58.300 It's going for student loan payments for rich, upper middle class people to be subsidized by working class families.
00:12:04.700 So I'm really upset about this.
00:12:06.740 And I agree with you.
00:12:08.420 I agree with everything that Steve just said as far as, you know, making sure that we get some sort of concessions here.
00:12:14.120 Well, ours is even tougher.
00:12:18.260 We don't want that.
00:12:19.440 We're going to give the number out.
00:12:20.500 The war and posse is that we don't we appreciate Speaker McCarthy for his effort here of really initiating some action and getting the ball rolling.
00:12:29.840 But we don't believe you need one penny increase to the debt ceiling.
00:12:33.380 This ought to be a hard no.
00:12:34.300 And I think we got I think we can get 20 to 40 votes in this, which basically locks it all down.
00:12:38.980 Kerry, I want to make sure people get all your analysis.
00:12:41.660 Where do they go on social media?
00:12:42.780 Where do they go on the website?
00:12:43.780 Because you're going to be a big part of this fight going forward.
00:12:46.420 And like I tell people, this is going to be a rolling gunfight from now until the 2024 election.
00:12:52.160 That's why this thing is so important.
00:12:53.320 Where do people go to get you?
00:12:55.260 Yeah.
00:12:55.540 Hey, thanks, Steve.
00:12:56.480 I'm on Substack.
00:12:57.640 Would love to connect with folks on there.
00:12:59.220 I'm also on Getter and Twitter.
00:13:01.540 And yeah, we got to keep beating the drum here because this is I mean, this actually reminds me a little bit of the nuclear deal with Iran when Obama just totally caved.
00:13:11.540 Even when Iran was on the ropes and that's when you're supposed to take it to your enemy, when you actually have leverage and instead Obama capitulated.
00:13:19.860 So I hope and I pray that McCarthy will not capitulate.
00:13:24.000 And I think getting people to stand in support of what he's doing, I think that's important.
00:13:31.080 Kerry, thank you very much.
00:13:32.380 Steve Cortez, what's your famous line to back up, Kerry?
00:13:34.860 Kerry, what's your famous line from The Godfather you always use about when we got the muscle?
00:13:41.900 Said, let's hit him now while we still got the muscle. 0.98
00:13:44.920 And right now we have the muscle and we earned the right.
00:13:47.660 Right.
00:13:47.780 We earned this seat at the table last November by taking that speaker's gavel away from Nancy Pelosi.
00:13:53.580 And by the way, to take this macroeconomic discussion to the micro, to what matters, kitchen table, tangible reality for Americans.
00:13:59.620 Let's remember this.
00:14:00.400 We now have 25 straight months over two years consecutive, worst streak in American history of crashing real wages, meaning your income adjusted for the goods and services you need to buy in your life.
00:14:11.500 That is the reality of Joe Biden.
00:14:13.460 And that's why a record 70 percent of Americans, according to CNBC, not according to us on the right, according to CNBC, all time record 70 percent of Americans are pessimistic about the economy both now and looking into the future.
00:14:27.040 So we are in a deep economic crisis, even if the White House won't admit it, even if MSNBC won't admit it.
00:14:32.320 It's time to hold the line and start fixing this mess.
00:14:34.660 We also know, Steve, I think two thirds of the American people back us right now that you've got to have cuts.
00:14:41.040 They understand this.
00:14:41.840 The people paying for this, the middle class, working class understand this all has to. 0.91
00:14:45.440 It can't go on.
00:14:46.100 The band just can't go on.
00:14:47.060 Short commercial break.
00:14:48.300 Cortez and I are going to break it all down when we return in the war room.
00:14:52.160 We rejoice when there's no more.
00:14:54.260 Let's take down the CCP.
00:14:57.660 They have all lied for too long.
00:14:59.600 Inflation has consequences.
00:15:01.100 As the Fed raises interest rates to combat out-of-control government spending, long-term bonds have diminished in value, crippling banks.
00:15:10.580 Depositors are holding their breath and investors are bailing on bank stocks.
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00:16:30.580 Take action.
00:16:32.060 $130,000 most likely.
00:16:35.260 And borrowing.
00:16:37.900 I mean, whether you're borrowing for a college education or whether you're borrowing for a new car or a used car or you're borrowing for anything.
00:16:48.300 Are your credit card costs going to skyrocket?
00:16:53.520 You're going to have bigger price tax for everything you buy.
00:16:57.320 This is going to be inflation brought to you by Kevin McCarthy's Republican House.
00:17:06.680 And, of course, the national debt.
00:17:08.080 I know they don't care about this because the national debt grew by record rates under Donald.
00:17:13.880 You've got to – how are we bringing in – it's so garbled, the thinking over there.
00:17:21.280 How are we bringing in inflation?
00:17:23.220 How are we being blamed for inflation by cutting the spending?
00:17:26.640 How is that working, Steve Cortez?
00:17:28.620 What's his twisted logic?
00:17:30.520 Yeah.
00:17:30.840 You know, it's like anybody who's had children knows that toddlers like to talk about, you know, backwards day.
00:17:35.020 It's right.
00:17:35.240 It's like it's backwards day.
00:17:36.240 No.
00:17:36.600 This is how we tackle the inflation.
00:17:39.000 And, by the way, hearing Joe and Mika, hearing them talk about economics – and I'm serious, Steve – it's like hearing Gomer Pyle opine on astrophysics.
00:17:49.620 Okay?
00:17:49.920 They are so out of their depth.
00:17:52.180 They have no idea what they are talking about.
00:17:55.460 Okay?
00:17:55.820 And the trajectory of the economy under Joe Biden, right, the man who they do battle for every single day and who they run cover for and act as a PR agency for every single day, the trajectory of the economy under Joe Biden is unmistakably miserable for the American people.
00:18:13.100 And, Steve, the way we know that is not because it's my opinion or yours, because it's their opinion of the American people.
00:18:19.440 In every single relevant survey and by every single important metric, the people of the United States are working harder to get poorer every single day, and they know it.
00:18:30.360 As I pointed out yesterday, Steve, there was a great article by Paul Bedard in the Washington Examiner about how even in Biden districts of the country, even if you look at the places, the congressional districts that went heavily for Joe Biden, the polling in those districts suggests that the people desperately want to have a deal that reduces the deficit.
00:18:50.480 The American people are not dumb.
00:19:20.460 It's an exorbitant borrowing and spending in Washington, D.C., and they desperately want and demand that Washington, D.C. get serious about starting to fix this problem.
00:19:30.660 That's why, look, it's not just the right thing to do for the country to hold the line in these negotiations.
00:19:35.560 And these are tense times, Steve, these coming days and weeks, but these are exciting times.
00:19:40.300 It's exciting because, again, we earned this lever of power.
00:19:43.760 We earned a say in this process because of what we did last November.
00:19:47.860 We didn't win the way we wanted to, but nonetheless, we got this important victory.
00:19:51.460 And I think Kevin McCarthy, given the limitations on him, OK, given the fact that there are dozens of members of the Republican caucus who, let's face it, are in no way conservatives.
00:19:59.860 They are uniparty Washington permanent political class operators.
00:20:04.760 Given those limitations, I think this is an excellent starting point for negotiations from Speaker McCarthy saying, first of all, stay at last year's levels on spending.
00:20:14.100 That was too much, but we're going to stay there.
00:20:15.940 We're not increasing anything by a dime.
00:20:17.840 Do no harm.
00:20:18.720 Sort of the hypocritic oath of the budget.
00:20:20.360 OK, we're going to do no additional harm.
00:20:22.180 That is a great place to start.
00:20:24.480 And the fact that the left is howling in horror and trying to claim that it's a cut because you're not extending and expanding their ridiculous programs shows you how unserious they are.
00:20:35.980 And if we have to come down to a point where the debt ceiling cannot be expanded, where there's no concessions from the left, so be it.
00:20:41.680 And guess what?
00:20:42.580 It's then the White House's problem to deal.
00:20:44.960 And it is up to them to prioritize payments.
00:20:46.940 There's no need to default.
00:20:47.980 There's no need to not get checks out for Social Security and for Medicare.
00:20:52.340 We can do all of that.
00:20:53.300 We can do all of that and more.
00:20:54.520 It's just a matter of it's going to be on them to then prioritize which payments come first.
00:20:58.800 And that will actually be a fascinating exercise to find out exactly what this White House prioritizes and what it doesn't.
00:21:06.900 202-224-3121 is the House.
00:21:10.380 We recommend you give your representative a call this morning.
00:21:13.360 Of course, we're not here to tell you what to say, but you've had the opening bid.
00:21:17.940 Ours is – we're a little more hardcore.
00:21:20.520 Ours is not one penny increase to the debt ceiling.
00:21:23.100 Let's see the cuts.
00:21:24.000 Let's see the massive – there's enough cuts you can make right now under prioritization of payment.
00:21:30.240 You're the creditors committee.
00:21:31.920 We will never jeopardize the full faith and credit of the United States because you are the full faith and credit of the United States.
00:21:37.880 There's a way to do this.
00:21:38.880 We've just got to be hardcore.
00:21:40.140 But I do give a head tip to Speaker McCarthy on a very impressive opening bid from him.
00:21:47.660 Our opening bid would be, hey, here it is, the scene in The Godfather.
00:21:51.460 How about this?
00:21:52.180 Nothing.
00:21:52.560 You pay for my casino license.
00:21:55.160 Senator Geary.
00:21:57.120 Senator Geary.
00:21:58.220 How about this?
00:21:58.840 You pay for it.
00:21:59.900 No, we're hardcore.
00:22:00.560 But I want everybody to call 202-224-3121.
00:22:04.600 Give your House member an ear for it, particularly if they're one of these Main Street guys that want to commission.
00:22:11.480 No more commissions.
00:22:12.220 Steve, you agree?
00:22:13.200 We don't need any more commissions.
00:22:14.260 We know what the problems are.
00:22:15.220 We don't need a bunch of guys sitting around for a year.
00:22:16.840 I mean, do you agree?
00:22:18.320 The commission, they've done this before.
00:22:19.960 And the commissions never get acted upon.
00:22:23.600 Things get acted upon when you have leverage and there's a ticking clock of when they run out of money.
00:22:32.060 And that's where we are right now, sir.
00:22:33.660 Your thoughts?
00:22:34.220 No, this ridiculous notion of a commission, okay, what that reveals is the total lack of seriousness and the lack of urgency in Washington, D.C.
00:22:42.900 And, Steve, I would suggest one of the reasons that there's a lack of urgency is because the people who physically live in Washington, D.C.
00:22:50.260 and the people who are connected to Washington, whether they live there or not, okay, the people who benefit from the current system, from the administrative state and the permanent political class,
00:22:59.100 they are not feeling the pinch of inflation because, let's be honest, it doesn't really matter to them.
00:23:03.440 So, if you're a very wealthy lobbyist in Washington, D.C., it might annoy you that your prices have gone up at the grocery store and at the gas pump to put the gas into your luxury SUV.
00:23:14.680 But it is not changing your life.
00:23:16.640 However, for that single mom waitress in the middle of the country, it is absolutely life-changing right now. 0.96
00:23:23.580 The realities, the anxieties of a crashing economy combined with rising prices.
00:23:28.760 We talked about this yesterday.
00:23:30.220 J.B. Hunt, one of the biggest trucking firms in the United States, said what they are facing is they are facing falling prices, okay, deflation on the prices they can charge customers,
00:23:40.400 and inflation rising prices on the input costs, particularly energy for them, that they have to pay, okay?
00:23:46.100 That's the definition of an economic vice, of a brutal economic squeeze.
00:23:50.620 Well, it's not just happening to big firms like J.B. Hunt, as important as that is for us.
00:23:54.940 It's happening to American families all over the country.
00:23:57.860 So there's a lack of seriousness among far too many politicians in Washington, D.C.
00:24:02.460 There's a total lack of urgency, but thankfully, Speaker McCarthy seems to have a total sense of urgency.
00:24:08.540 And again, I think this is a great opening bid.
00:24:11.620 It's a great opening spot to begin the negotiations and show Washington that we're serious about this and that deficit reduction matters to the United States.
00:24:21.280 It matters to regular Americans.
00:24:23.140 This inflation is out of control.
00:24:25.400 When you combine that with wages that can't keep track, so you have falling real wages, the point is the prosperity of the American people is suffering greatly, and it demands immediate action, not some commission that will get back to us in a year.
00:24:38.800 Let's go ahead and talk about the microeconomics.
00:24:43.100 Let's go ahead and play.
00:24:43.760 I want to play the white chalk talk you gave a couple of months ago, and they're finally catching up with us today.
00:24:49.800 Let's go ahead and play it, and then you can comment about how this is impacting the American people.
00:24:53.740 Patriots, tragically, massive corporate layoffs.
00:24:58.860 They are accelerating, especially in the tech space.
00:25:01.540 But one job that's very much in demand, being a repo man, because Americans cannot afford their cars.
00:25:07.720 Let's look at the numbers in a chalk talk.
00:25:09.480 Last year, 2022, Americans lost $1 trillion in real disposable income.
00:25:14.740 That was the worst percentage drop since the Great Depression,
00:25:17.800 making it incredibly hard for Americans to deal with rising interest rates and more expensive loans on things like automobiles.
00:25:25.300 Car payments, $1,000 a month or higher, that's now 16% of all auto loans, all-time high.
00:25:32.280 For context, three years ago, that number was only 6%,
00:25:36.320 which translates into a giant jump in the percentage of Americans who are severely delinquent in their auto loans, meaning they haven't paid in three months.
00:25:46.380 We just put in a number of almost 6% there, which is worse than the levels of the Great Recession of 2008-2009.
00:25:55.020 Patriots, these numbers, this economic reality makes it imperative that the House GOP hold the line regarding the debt ceiling.
00:26:04.320 Okay, I'm going to get Cortez.
00:26:05.600 By the way, I think I might have given the wrong.
00:26:07.340 It's 202-224.
00:26:11.460 224 is the Senate.
00:26:13.020 225, can I check that out?
00:26:14.260 225 is the House.
00:26:16.380 Which way is it?
00:26:17.920 224 is the House.
00:26:19.040 Okay, I'm getting conflicting.
00:26:20.520 I'm getting conflicting.
00:26:21.600 I've got the war room engine room telling me something different.
00:26:23.400 Let's get that sorted.
00:26:25.600 225 is the House.
00:26:27.400 225 is the House?
00:26:28.640 Okay, 225.
00:26:29.460 I want to make sure we got that.
00:26:30.840 Your house number is 202-224-225-3121.
00:26:36.940 We're going to cut a trillion dollars.
00:26:38.340 We can't even get the right number.
00:26:39.260 Okay, it is 202-225-3121 is the House.
00:26:45.600 Make sure you call.
00:26:46.460 You heard the opening gambit from Speaker McCarthy.
00:26:49.220 His is to go back to 2022 numbers.
00:26:51.640 Only have 1% increase over time.
00:26:53.960 There's, I think, $4.5 trillion, Steve, cuts in what he's proposing over time.
00:26:59.160 We are obviously something.
00:27:00.960 You think that's a good open?
00:27:02.680 I think it's very interesting to put on the table because he's trying to get to 218.
00:27:08.380 His issue is not our issue.
00:27:10.660 Our issue is different.
00:27:11.680 Our issue is to force these guys to understand we're not going to increase the debt ceiling,
00:27:17.760 that they've got to come up with the prioritization of payments.
00:27:19.880 Now is the most important teaching moment that we could ever have,
00:27:23.940 and this teaching moment is incredibly important because the future of the country hangs in this.
00:27:29.520 Real quickly, Steve, I want you to hold through the break.
00:27:31.280 Repo Man, Bloomberg's caught up with this.
00:27:33.940 And by the way, you're so prescient because the cuts are even coming bigger on Meta and these other places.
00:27:39.260 Tell me about the Repo Man.
00:27:40.860 Yeah, so this is a Bloomberg headline from yesterday.
00:27:42.980 The Repo Man returns as more Americans fall behind in car payments.
00:27:47.080 And I'd like to point out the War Room audience, that shock talk you just played, that is from January 29th.
00:27:52.580 So we were several months ahead.
00:27:54.440 We always like to pave the way for Bloomberg and the rest of the legacy media to come back.
00:27:59.540 But listen, all kidding aside, there's nothing funny, of course, about Americans losing their cars,
00:28:04.620 and that is intensifying and accelerating.
00:28:08.240 I tell you, this is terrible.
00:28:09.740 You're going to see a lot more of this.
00:28:10.880 The tech layoffs are actually increasing, kind of accelerating at an accelerating rate.
00:28:15.480 Okay, short break.
00:28:16.200 Cortez is going to hang with us, get some more capital markets, economics to talk about.
00:28:19.840 And then we're going to talk about the Chinese Communist Party, all next, in the War Room.
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00:29:59.200 Here's your host, Stephen K.
00:30:02.360 All I can see is we are taking a baseball bat to the Statute of Liberty.
00:30:14.000 And we're ignoring the business roundtables of America, who are crying out for employees to work alongside of Americans.
00:30:25.180 Let me be very clear.
00:30:26.820 We have jobs for Americans.
00:30:28.540 We have tech jobs for Americans, teaching jobs for Americans, law enforcement, firefighter jobs for Americans.
00:30:34.820 But we're a growing nation, and we need to be able – what have people said?
00:30:39.300 What have our friends to the north said?
00:30:41.360 Canada said we need to build.
00:30:43.300 Okay, welcome back.
00:30:48.620 By the way, we just got a call from a pizza place over in Capitol Hill that said they're swamped with – I'm just kidding.
00:30:53.620 Okay, you go to 224-202-224-3121.
00:30:57.800 They'll connect you anywhere.
00:30:59.020 The direct dial numbers, if you look up your senator, and you should do that so you don't have to go to the switchboard, is 224.
00:31:03.780 And the House members are 225.
00:31:05.840 But we just checked.
00:31:06.660 If you call 224-3121, you can get to anybody.
00:31:09.980 And I'm just kidding about the pizza parlor.
00:31:13.980 Steve Cortez.
00:31:15.260 She said the quiet part out loud there.
00:31:17.180 She's bragging about – hold it. 0.97
00:31:19.100 She's supposed to be a populist, supposed to represent the people. 1.00
00:31:22.000 She's referencing the business council that always wants the cheapest labor.
00:31:27.920 This is great.
00:31:28.680 Her staff is just doing such great for her.
00:31:30.880 Tell us what that's about, Cortez.
00:31:32.720 Yes.
00:31:33.160 No, it's almost too good to be true.
00:31:35.060 So that's Sheila Jackson Lee, one of the most progressive members of the entire United States Congress, and clearly telling the American people in plain English that we are taking the direction of the business roundtable.
00:31:47.300 So that is yet another important data point, more evidence of the union between the secular humanist radical left and big business.
00:31:55.880 They have an unholy alliance to push globalist policies, including open borders.
00:32:02.420 Why?
00:32:03.020 Because the leftists believe that they're going to import new voters, new constituencies for their policies.
00:32:07.920 I'm not sure that's even true, but that's what they believe.
00:32:10.140 And because big business wants cheap labor. 0.91
00:32:13.080 That is the reality.
00:32:14.000 And remember, at a time, as we were just discussing, when real wages are crashing for Americans – and, Steve, this is also important – when millions and millions of Americans have simply dropped out of the labor pool.
00:32:25.620 So they don't count as unemployed, according to economic statistics anymore, because they have dropped out, which is even worse than just being unemployed, than just being in between jobs.
00:32:34.980 And I want to show this in chart form, by the way, what we are doing right now in the United States in terms of importing workers.
00:32:40.800 And I'm talking now about the legal side, not the illegal side, which, of course, should be absolutely at zero.
00:32:47.220 I'm talking about legal migrants to work in the United States, whether it's by work visas or through regular immigration flows.
00:32:53.640 And this is chart number one, please.
00:32:55.240 This is from The Wall Street Journal.
00:32:56.940 This is foreign-born labor force by the millions.
00:32:59.940 That chart goes back five years to 2018.
00:33:02.780 As you can see, not surprisingly, in Donald Trump's term, particularly during 2019, that number was steadily ticking downward, which I would argue is a very good thing.
00:33:11.520 In other words, American citizens, whether native-born or legally naturalized to this country, American citizens were being prioritized, fewer and fewer foreign workers, legal foreign workers being imported into the United States.
00:33:24.640 It then went far lower during 2020, not surprising, because the entire world was locked down, including the U.S.
00:33:30.560 But what has happened since then and what has particularly happened under Joe Biden, this number is soaring.
00:33:36.680 So we went from 19 million foreign-born workers in the labor force to 22 million.
00:33:43.060 We increased 3 million foreign workers at a time, Steve, when American workers are struggling to simply pay their bills.
00:33:53.920 This is globalist lunacy.
00:33:56.560 How about we take care of our own people first?
00:33:59.440 And by the way, I would draw a contrast here, Steve, to this issue of migration.
00:34:02.900 Of course, they're very much connected, migration and the economy, but to migration and the debt ceiling negotiations, where you and I take a very harsh stance, which maybe isn't politically possible on Capitol Hill, but it's important for us to be here, nonetheless, to try to move the center.
00:34:16.160 So when it comes to legal immigration, I believe the correct number is zero, okay? 1.00
00:34:20.860 It should be zero.
00:34:21.960 Now, is that politically possible in the near term?
00:34:24.720 Probably not.
00:34:25.400 But I think we need to make the policy case why it should be zero so that we can at least reduce legal immigration and we can eliminate illegal immigration.
00:34:33.800 So it's very similar to the debt ceiling situation, Steve, is the point that I'm trying to make here.
00:34:37.900 So you and I would probably do something that is far more harsh regarding budget cuts, not just stopping the increases, but actual budget cuts.
00:34:44.920 But I also am very cognizant that Speaker McCarthy faces a caucus where he doesn't have much wiggle room politically, probably can't get that done.
00:34:53.820 And so I think he's starting from a pretty sensible place.
00:34:56.300 So it's important, Steve, too, though.
00:34:57.560 I think we need to realize this.
00:34:59.020 When we take positions that might seem extreme, at least to the ruling class, but they are backed by facts and arguments and persuasion, when we make that case, we can move the political center.
00:35:10.620 I think that has already happened on the economy and on the deficit.
00:35:12.940 I think it's starting to happen on immigration.
00:35:15.400 Let's move the center. 1.00
00:35:16.760 That's important.
00:35:17.560 And I think that's a big part of what you do and what this show does.
00:35:21.620 Yeah, that's what we need to do on everything, on Ukraine, from the invasion on the southern border to our war with the CCP.
00:35:28.620 I want one more element before I let you go, Steve, is about commercial real estate, because I'm very concerned.
00:35:33.300 Because here's the counterargument that's about to happen in this whole debt debate.
00:35:37.240 You heard the trial balloons going up on Morning Joe and with Zen master Jean-Pierre, is that they're going to say, hey, the bottom's falling so far out of the economy, we need a stimulus.
00:35:51.140 One of the things they're going to point to is commercial real estate.
00:35:53.820 Steve Schwartzman, who's pro-CCP, no friend of MAGA, but a very smart guy over Blackstone.
00:36:00.600 Tell me about the reporting today about commercial real estate.
00:36:04.060 So Blackstone earnings out today, not to be confused with BlackRock, by the way, even though the two firms have a lot in common and certainly have a very similar worldview.
00:36:12.580 And what I mean by worldview is a complete leftist, globalist, anti-American, anti-American worker agenda.
00:36:19.720 But nonetheless, as I often point out, Steve, these companies are very important to watch.
00:36:24.120 All right.
00:36:24.300 Even if you revile these firms, and I certainly do, there's still important reflections of where the U.S. economy is and where it is headed.
00:36:31.520 And if you look at Blackstone, which is traded by the ticker BX, Blackstone issued its earnings today, and these were the results.
00:36:38.600 Year-over-year earnings down 36 percent and specifically cited, quote, a weak property market.
00:36:46.760 And property market there, they don't mean residential.
00:36:48.820 They mean commercial real estate.
00:36:50.440 So it is becoming more and more apparent, Steve, to more and more people and more firms that the commercial real estate situation in the United States is bad and it is worsening.
00:37:01.000 And I would argue that the risks in 08 and 09 were almost entirely in residential real estate, in regular individuals signing no-doc liar loans.
00:37:09.700 That is thankfully completely gone.
00:37:11.260 If anything, the credit standards are very, very tight, maybe too tight on the residential side.
00:37:16.400 But we have the exact opposite now on the commercial side.
00:37:19.620 So particularly as it pertains to downtown office space, that's where the risks are.
00:37:25.340 And the results today from Blackstone is yet another data point, I think, proving that thesis that the emerging risks in commercial real estate are intense and that they have ramifications for the entire economy.
00:37:37.480 But again, the White House will claim that that's a reason to further stoke inflation, which only makes the commercial real estate situation worse. 0.93
00:37:44.000 It's the exact opposite.
00:37:45.300 It's like a doctor saying we're going to cut you and bleed you to heal you.
00:37:48.360 No, we're not going for economic bloodletting or blood leaching, OK?
00:37:52.360 We will not fall for that.
00:37:54.060 The way to get commercial real estate back on a positive trajectory is to get inflation again under control.
00:37:59.480 How do we do that?
00:38:00.200 By holding the line here on spending.
00:38:02.700 I'm confident that Speaker McCarthy and the House GOP are going to do that.
00:38:06.320 But let's hold their feet to the fire. 0.92
00:38:09.680 Cortez, how do people get to you on Substack and your social media?
00:38:12.580 Yeah, please find me.
00:38:14.080 And by the way, on commercial real estate, I have an article that I encourage folks to read on exactly this point, the syllabus of economic errors.
00:38:20.520 You can find me at stevecortez.substack.com.
00:38:23.440 On the Twitter, I'm at Cortez, Steve Cortez with an S.
00:38:26.960 Thank you, Admiral Bannon.
00:38:28.080 Appreciate it.
00:38:30.100 Thank you, Steve Cortez.
00:38:31.680 Always sharp on focus and months and months and months ahead of the corporate business media.
00:38:37.120 Also, look, I think Cortez makes some very solid points.
00:38:40.900 I think Speaker McCarthy makes some solid points.
00:38:42.980 I know there's a number of the House Freedom Caucus people that are coming in line on this.
00:38:46.920 Remember, their situation is not our situation.
00:38:50.440 They've got to get to 218.
00:38:52.520 You're the creditors committee.
00:38:54.140 The creditors committee right now has got to take a much harder stance.
00:38:56.760 And that stance is, hey, show me the money or show me the cuts in this regard.
00:39:01.920 It's quite simple.
00:39:03.480 We're hardliners.
00:39:04.420 Not one penny, not even close to a penny relief on this debt ceiling.
00:39:09.740 You've got to come with a plan that has massive cuts so we don't hit up against it.
00:39:13.340 And then prioritization of payments that can bridge us through as we pay the interest and pay any government securities coming due.
00:39:21.720 This is, you see today, this is just the opening salvo for Morning Joe.
00:39:24.840 You're going to be called every name in the book.
00:39:27.040 But you have to remember, the credit of the United States rests upon your shoulders.
00:39:33.060 You are the full faith and credit.
00:39:35.360 And what would you do as a good householder?
00:39:37.460 What you would do is draw a tough, hard line.
00:39:40.420 This madness has to stop.
00:39:41.960 Somebody has to lance the boil.
00:39:44.320 This audience is the one to lance it.
00:39:46.000 So make sure you make contact today and get your voice out there.
00:39:48.900 There's tons of information.
00:39:49.960 I'm putting it up on Getter nonstop.
00:39:52.240 You can get it.
00:39:52.740 We're going to put it up on the site.
00:39:53.940 Just get to immerse yourself in all this.
00:39:55.780 Make sure you go to Birchgold.com right now.
00:39:58.100 I wrote something about this called The Debt Trap a couple of months ago, but it's ripped from today's headlines.
00:40:03.840 Go to Birchgold.com right now and get it.
00:40:06.900 Immerse yourself in this.
00:40:08.420 Go take Peter Navarro's macro course.
00:40:10.320 I think it costs $12.
00:40:11.340 Go take that.
00:40:12.980 Even if you've never graduated from high school, even if you've never got out of the first year of high school, we make this accessible to you.
00:40:18.400 Because at the end of the day, it's common sense, and we explain it to you in a common sense way.
00:40:21.700 I also talked to the Birchgold guys about precious metals, particularly as a hedge against inflation, gold and silver.
00:40:27.960 So go check it out today.
00:40:29.660 Let's play.
00:40:30.720 The great Grant Stinchfield went off last night on a very important topic.
00:40:34.260 I've got Matt Palumbo and Jane Zirko going to join me here.
00:40:36.260 But can we play the call open of Grant from last night?
00:40:38.680 This was the head of this Chinese police station.
00:40:43.200 He gets arrested and is bailed out almost instantly.
00:40:48.360 Okay.
00:40:48.960 Now, if he's a Chinese agent, how is he getting bailed out instantly? 0.99
00:40:53.380 Well, when you look at the indictment, and I have a few of the pages here,
00:40:58.120 the indictment against these 34 and the two arrested reads like a Chinese Communist Party manifesto of how you destroy not just Chinese dissidents in America,
00:41:09.420 but American society and the value system in general.
00:41:13.900 On one of these pages, it spells out what they call the 9-12 Project,
00:41:19.920 which was Chinese agents to disrupt the American value system using social media accounts and the like.
00:41:26.260 And we'll pull it up here.
00:41:27.900 At one point, they received a cable tasking them to, quote,
00:41:31.460 take advantage of George Floyd's death of the second anniversary and reveal law enforcement's brutality and racial discrimination.
00:41:41.960 They wanted to sow dissent inside the United States to bring us down.
00:41:48.040 Well, lo and behold, guess who warned of this?
00:41:51.940 Remember who I tell you about all the time?
00:41:53.800 Miles Guo, the Chinese billionaire who now sits in a federal prison.
00:41:59.200 Mind you, no bail for him.
00:42:01.580 CCP enemy number one.
00:42:03.660 But the CCP agent is bailed out.
00:42:06.500 Well, Miles Guo warned of this exact thing years ago.
00:42:12.480 Roll that clip. 0.96
00:42:13.900 CCP is wiping out white people.
00:42:16.440 I have been saying this since 2017.
00:42:19.480 What is CCP's intention in waging war against the world?
00:42:22.320 It is to use yellow, black, and brown people, who make up almost 75% to 80% of the world's population, to wipe out white people. 0.98
00:42:32.340 The correct saying is that CCP has spread the idea that white people caused all racial conflict. 0.99
00:42:38.820 CCP's biggest conspiracy is to use this idea to take over the world.
00:42:42.340 This is a serious issue that no one dares to talk about, and no one dares to even say it.
00:42:50.480 Palombo, real quickly, we've got 30 seconds.
00:42:52.760 I'll bring you back.
00:42:53.720 But the Minister of State Security guys running the police stations illegally in New York get rolled up.
00:43:00.720 They get bailed out in the afternoon.
00:43:02.680 In the indictment, their number one guy they're after, the number one target is Miles Guo.
00:43:07.140 He still sits in jail.
00:43:08.460 What's up?
00:43:08.880 Well, the system is rigged.
00:43:11.480 And also, you know, the name, the 9-12 group, you might notice 9-12 is September 12th.
00:43:17.020 That's the date that Miles Guo filed for asylum.
00:43:19.620 So they are almost trolling or mocking him with the name.
00:43:22.540 And when you read the indictment, it proves that there is a conspiracy against Miles,
00:43:26.240 and they refuse to name him in the document because while the FBI admits this,
00:43:31.320 the DOJ is simultaneously trying to claim he's a fake whistleblower,
00:43:35.220 while their own FBI says the opposite.
00:43:36.780 So they are in really a web of their own contradictions here.
00:43:40.820 Hang on, we're going to bring you back because there's a federal trial going on at the same time
00:43:44.400 that he's the number one target in the DOJ, which has spread money like crazy.
00:43:49.360 Okay, short break.
00:43:50.520 Back in the warm in just a moment.
00:43:51.800 I don't know about you.
00:44:00.520 It takes a lot to shock me these days.
00:44:02.960 But to see our judicial system resemble a third world banana republic, 0.82
00:44:07.300 to see trusted American companies embrace insane and destructive woke ideologies is frankly depressing.
00:44:13.880 We must fight back.
00:44:15.320 And that starts with changing the way we spend our money.
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00:46:09.980 Ron DeSantis tried to cut seniors' benefits.
00:46:14.060 In Congress, DeSantis voted three times to cut Social Security, even to privatize Medicare.
00:46:19.980 Worse, DeSantis wanted to raise the retirement age to 70.
00:46:24.200 Ron DeSantis would make us work longer to get less.
00:46:27.880 President Trump promised.
00:46:29.560 We will protect Medicare and Social Security.
00:46:33.140 President Trump delivers.
00:46:35.300 And he always will.
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00:46:39.980 Yeah, there's a lot of, there's a bunch of articles I've got up on Getter, where we try to immerse you in all the different aspects of what we're covering here on the show.
00:46:48.920 And it's really about Governor DeSantis' failure to launch here.
00:46:51.520 I don't think there's any doubt right now that what Governor DeSantis should do is very much focus on Florida, very much focus on Florida, having a great run in the second term.
00:47:02.120 He's done so much for the state already.
00:47:03.940 Prepare himself for 2028.
00:47:06.300 To get into a primary now, and let's be blunt, it's a failure to launch.
00:47:11.300 The situation on Capitol Hill the other day was just an unmitigated disaster.
00:47:15.860 He's just not ready for it.
00:47:16.880 He's doing a great job in Florida, but that's not the scale you've got to roll in.
00:47:20.300 And so it is, I think, in his best interest, in MAGA's best interest, in our movement's best interest, in the country's best interest, to continue to have a great run, the great battles you've got against Disney, other world companies, and what you're trying to do in Florida, which is incredible.
00:47:35.980 But hey, I give my advice, and you take it, you take it.
00:47:39.260 If not, it's going to be a long, tough slog, because it has not started off very well.
00:47:45.200 I want to go back to Matt Palumbo.
00:47:46.960 Here's the thing.
00:47:49.320 Miles Guo did something for this country that is of the utmost importance.
00:47:53.840 Before Miles Guo really came to the West, as a whistleblower, you know, because he was dialed in as a businessman, as many of these businessmen, like Jack Maughan, these guys are, he was a whistleblower to their corruption.
00:48:04.920 He was a whistleblower to their real intent, and his biggest thing he did, he says, in the West, you've got to separate out the CCP from the nation of China and the Chinese people, Lao Bajing, because, you know, we were all allies in World War II, and Lao Bajing has a great affinity for the American people, as the American people have for the Chinese people through our entire history.
00:48:24.960 The Chinese Communist Party is a gangster organization, and since that time, if you go back from where we really came to the West in 2017, we have, and I know I have, really focused on identifying the Chinese Communist Party as the central existential threat, not just to the United States and to our citizens, but to the Chinese people, and that is caught on quite big. 0.88
00:48:47.460 You can tell in speeches, you can tell in focus, and they hate it.
00:48:50.020 They hate it, and that's why there's a massive effort.
00:48:52.840 It's always been a massive effort to extradite Miles Guo back to China and to immediately execute him.
00:48:57.900 That's what they're trying to do.
00:48:59.000 It's quite simple, and you've got a huge case.
00:49:01.760 There's no coincidences in the world.
00:49:03.960 You have two things that are happening right now.
00:49:05.640 You have a massive federal case in D.C. district court, and you have Leo DiCaprio coming in.
00:49:11.280 You have all these movie stars, and it's almost crickets.
00:49:13.160 Our Jane Zirkle's covering it, and the types of numbers they're talking about,
00:49:16.580 this JOLO, this Malaysian billionaire, was going to put $40 million into the Democratic Party as a foreigner.
00:49:23.400 And Leo DiCaprio's up there for two hours on the stand.
00:49:26.060 Leo DiCaprio up there, and there's almost no coverage, where normally there would be a bevy of photographers around all that.
00:49:32.400 And he talks about, yeah, this guy's talking about it all the time, putting $40 million into the Democratic Party.
00:49:37.000 The numbers are talking about the extradition of Miles Guo.
00:49:39.000 There's a Higginbotham is an employee of the Justice Department.
00:49:42.620 The Chinese Communist Party gave him $40 million, this is some mid-level guy, $40 million to work on extraditing Miles Guo.
00:49:50.640 The rapper who's actually up on the charges, the amount of money they were giving him to make sure this could happen.
00:49:58.080 Steve Wynn, a major entrepreneur, and quite frankly, very close to President Trump, has been well documented,
00:50:03.220 went out of his way, and he was going to get a bonus.
00:50:04.940 And Brody was going to get a $15 or $25 million bonus to extradite Miles Guo back to China.
00:50:11.620 Now we have the whole situation of the police stations in the Chinatown.
00:50:16.280 And Matt Plummer, come in here.
00:50:17.960 The entire state security apparatus is around Miles Guo, the 9-12 project.
00:50:22.500 He's victim number one, which they won't mention.
00:50:25.080 And in any of this documentation, whether in the court or whether here, they will never mention Miles Guo's name.
00:50:31.020 The reason is it shows you the corruption of our system.
00:50:34.220 We have a freedom fighter that's been our greatest ally in identifying the number one existential threat we have in this country,
00:50:41.600 which is the criminal element of Beijing and who they've paid off as a fifth column in our country. 0.53
00:50:48.100 Matt Palumbo.
00:50:49.620 Yeah, I mean, the extent of the conspiracy, and I think it is an appropriate word in this context, is incredible.
00:50:55.600 There are all these various cases involving Guo, and in almost every case, there is a tie back to the CCP somewhere.
00:51:02.500 But the biggest thing here is to keep him from testifying and from speaking.
00:51:06.940 And we were mentioning how in this new FBI document, he is listed only as victim one.
00:51:12.200 But it is almost comical because they will describe him to a T, where there is no doubt that it is him, but then put it as victim one.
00:51:19.360 They will describe his followers.
00:51:20.460 And it does give the impression that the number one goal of this 9-12 group was take down Miles.
00:51:26.580 And you were saying about some of the almost bounties on Miles.
00:51:29.520 And it seems like $40 million is just the going rate to try to deport Miles.
00:51:33.960 And, you know, I think I made the point on the last show, like, these are just the ones we know of.
00:51:38.460 So if they're willing to pay $40 million to a couple people here and there, what is the sum total, and what are they trying to cover up?
00:51:44.960 And I would say it's probably in the billions.
00:51:47.140 And it has to be something big.
00:51:48.540 You know, even before Miles came to the U.S. as a whistleblower, he was already a successful businessman, so you can't accuse him of fraud.
00:51:55.740 And he already had uncovered things that put various CCP officials behind bars.
00:52:00.340 So we know he's legitimate, and there is a coordinated effort to censor him.
00:52:05.120 So in the Pras-Michel trial, you know, you mentioned Leonardo DiCaprio has testified.
00:52:10.420 Well, they want to get Guo to testify as well, but they are preventing Michelle's lawyers from even serving Guo, which is a bit odd.
00:52:19.000 And the reason why is because he will further expose the DOJ and FBI corruption.
00:52:24.260 And also of note, people like Higginbotham, he got a plea deal.
00:52:27.940 He got no jail time.
00:52:28.900 You know, the only people in the whole Pras-Michel trial who's actually facing consequences is Michelle.
00:52:34.480 And, you know, the fear I gave last time was he's the fall guy.
00:52:37.460 He's the guy who has got a pretty sketchy past.
00:52:39.880 And if you're going to stick it on someone, you stick it on that guy, well, all the higher-ups in the DOJ and FBI, you let them get off.
00:52:46.500 Don't have it make headlines, and don't let Miles testify to expose the true extent of what they were doing.
00:52:53.780 Matt, your reporting on this has been amazing.
00:52:55.680 Thank you.
00:52:56.400 How do people get to you?
00:52:57.440 I know you run the Dan Bongino operation.
00:52:59.740 How do folks get to you?
00:53:01.280 Right.
00:53:01.500 So, mcginoreport.com.
00:53:02.820 I'd love to see it up on the screen.
00:53:04.760 That's our competitor to Drudge.
00:53:06.440 And hopefully we do a much better job.
00:53:09.060 On Twitter, it's mattpalumbo12.
00:53:11.300 And same thing on Getter.
00:53:14.120 You're doing incredible reporting.
00:53:15.500 And by the way, Dan Bongino's site, Drudge is no competition.
00:53:19.420 You guys blow it away.
00:53:20.520 It's incredible.
00:53:21.140 Well, great news, always ahead of the topic.
00:53:24.080 Bongino's fantastic.
00:53:25.220 And you're a great guy to have as his partner, the editor of it all.
00:53:28.580 Thank you very much.
00:53:29.220 Short commercial break.
00:53:30.660 Jane's going to join us a little later. 0.99
00:53:31.820 We're going to talk about a trial.
00:53:33.120 They got Miles in jail, so he won't testify in open court.
00:53:36.100 Also, Carrie Lake, Eli Crane, going to join us next in the War Room.
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