Bannon's War Room - Episode 2751： The Rats Are Gnawing Away On The American's Wallets

00:00:00.000 this is the primal scream of a dying regime pray for our enemies because we're going medieval on

00:00:10.020 this people here's not got a free shot all these networks lying about the people the people have

00:00:16.620 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:20.380 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:23.960 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:31.780 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:39.720 country this country will be saved war room here's your host stephen k bann

00:00:46.940 when you talk about work requirements remember we want to take from people from poverty to jobs 1.00

00:00:56.840 we want to take it's only for people who are able-bodied with no dependence i don't think

00:01:03.060 it's right that we borrow money from china to pay somebody that has no dependence able-bodied to sit 0.88

00:01:08.660 on a couch what we find is people become more productive so that's that's your that's still a

00:01:13.180 every study has shown it helps the economy helps people to help our supply chain make us less

00:01:18.840 dependent upon china at the white house keep an eye on what each side says coming out of that

00:01:24.340 meeting the third one in as many weeks if they can't start coming together now when will they

00:01:31.080 because although we say eight working days that doesn't mean a deal and a bill and a vote will

00:01:36.400 happen overnight marking it up debating it signing off on it all take time even when congress is trying

00:01:43.060 to go quickly and according to treasury secretary janet yellen there isn't exactly wiggle room june 1st

00:01:49.840 is a hard deadline she told meet the press over the weekend even invoking the 14th amendment would take

00:01:55.860 time which by the way yellen says would be potentially inappropriate and legally uncertain so

00:02:02.820 what would be left aside from defaulting again watch what comes out of this meeting house democrats

00:02:08.480 have 210 votes for their discharge petition punch bowl reports they should have 213 by the end of the

00:02:15.540 day would a continued standoff help them get to 218 let's ask joining me now is nbc news white house

00:02:23.940 correspondent monica alba and nbc news senior capitol hill correspondent garrett hake so garrett mccarthy

00:02:31.480 spoke to reporters what did he say well he said a couple things of note katie first of all he said that

00:02:37.160 he thinks they need to see progress at the white house he needs decisions to start being made he was

00:02:42.460 keenly aware of the time component that just you just laid out to get a deal and he also started to

00:02:48.000 describe the parameters a little bit more specifically than we've heard before about what would be and

00:02:52.080 would not be in it now mccarthy's described a spending deal that would cut spending in real terms

00:02:57.740 from 2023 you know that basically next year we would spend less than we spent this year so somewhere

00:03:03.080 between what we spent in 22 and this year that number cannot go up but he's also said as we well

00:03:07.900 know that you won't cut medicare and social security today he said defense cuts are off the table that

00:03:12.720 means all the cuts that he's talking about would land on domestic spending and if you're thinking

00:03:16.720 that doesn't sound like a deal that democrats would be willing to support you'd be right mccarthy is

00:03:21.600 continuing to squeeze down on on the negotiations right now and it's hard to see how that gets him the

00:03:28.080 numbers that he needs to pass a bill if he can get a deal and here's what he said about passing that

00:03:32.960 bill if they get that far i believe members should have the 72 hours i promised on anybody

00:03:40.040 you got to pass it out of the house you got to write it make sure it's right and the senate has

00:03:45.980 to pass it that's why waiting for this last minute is not the way you're going to be

00:03:50.660 i don't think there'll be many people who disagree with the idea that congress needs to stop waiting

00:03:55.660 to the last minute to get things done i'll just clarify two things he said there the 72 hour rule

00:04:00.000 is a rule that house republicans put in place in this congress that that's how long members would

00:04:04.000 have to read any bill before there's a vote it could get waived but it would probably make the

00:04:08.400 same faction who already doesn't trust mccarthy and the house republican side uh uncomfortable and

00:04:13.700 then of course he kind of glosses over the senate doing this katie how many times have we stood here

00:04:17.480 and talked about how slowly the senate moves and that's if everybody is already rowing in the same

00:04:22.700 direction not a given on a bill like this monday 22 may in the year of our lord 2023 let's go right

00:04:29.260 to andy biggs congressman biggs uh from arizona five has been in the middle of this since the

00:04:34.980 beginning of actually from last year of trying to get these cuts done and try to get control of this

00:04:39.980 orgy of spending and no no uh no uptick to the debt ceiling congressman biggs the meeting's at 5 30

00:04:46.900 at the white house mccarthy's already signal he's going to have a press conference back on capitol hill

00:04:51.580 at seven can you give us the latest state of play sir well they're meeting and uh we don't know

00:04:58.080 what's happening is behind closed doors so what we get is public uh reaction steve and uh and what

00:05:05.180 mr mccarthy's saying in the public um we're hearing and what i'm i'm going to point out some things that

00:05:11.580 he said that should cause some alarms um this morning he said something about you know that he

00:05:17.800 would need 180 to 200 republicans on any deal uh and then he said today that he thought that when

00:05:24.740 they got a deal the majority of republicans in the house would support it now what does that tell you

00:05:29.640 it tells you that uh he doesn't really he's going to basically jettison 20 to 30 republicans

00:05:36.300 uh who are trying to hold on for a reduction in deficit spending and that means in my mind that

00:05:44.380 he's probably going to go to the democrats to cut a deal there uh and i will just tell you one other

00:05:49.480 thing that should be done if he thinks that he's gonna need more time to get this thing through

00:05:54.340 which i would suggest he's probably right whatever he's going to do um my my team is actually drafting

00:06:01.040 legislation now that would provide a reduction in spending or actually rescissions to claw back

00:06:07.480 about 110 billion dollars which would take us clearly past janet yellen's false january june 1st

00:06:16.100 statement what she isn't telling the american people is that in june we always have a high tranche of

00:06:21.360 of uh uh dollars that come in because it's a quarterly payment month and we typically only borrow somewhere

00:06:27.840 between three and five billion dollars to get through june she is just basically kind of implying

00:06:33.500 that we don't have any cash the reality is we'll have a a real good cash month in june and so we

00:06:40.580 might need to only get enough dollars for a couple of weeks let's go do it and that's the problem with

00:06:46.680 what what is being said at this high level and what's being fostered by the corporate media

00:06:52.000 this is the first time do you do to for him to um try to get 180 or 200 republicans uh or try to go

00:07:02.240 with just the majority of the conference would be the end of his speakership why would he do that

00:07:07.080 i don't think it would be the end of his speakership i think that that part of his deal will be that

00:07:13.020 there's enough democrats to keep him you know they lie a lot but there'll be enough democrats to keep

00:07:18.060 him in in uh in position i i just think that uh almost all republicans except you know who will

00:07:24.840 vote for whatever deal he comes out we're are going to vote to keep him and uh he'll have a deal so

00:07:30.540 that there'll be enough democrats i just don't believe steve that the that the uh motion to

00:07:35.940 vacate is going to be a viable uh threat to him i think a bigger uh opportunity for him is for us to

00:07:43.100 like i say give him some give us some more breathing room and make some reductions right

00:07:48.540 now rescissions right now get some money back in and uh force the senate and joe biden to

00:07:55.540 to step back and say okay well now we're going to have to make some cuts that's what i think we need

00:08:01.440 to do um when you talk about rescissions first off janet why have that not put more pressure on 0.98

00:08:08.540 janet yellen janet yellen is uh has not put forward any numbers so far where you know we have letters

00:08:14.840 that says it's going to be in the 5th of june now it's going to be the 1st of june then it's going to

00:08:18.140 be the 15th of june now it's going to be the first has she come forward and actually put

00:08:22.100 forward a model so that anybody understands how much cash is coming in how much cash is going out

00:08:27.280 congressman no she is not and that's part of the problem this is all uh rhetoric driven it's all

00:08:33.740 you know there there's some amounts of reality to it but there's also a tremendous amount of

00:08:39.480 uh narrative building which janet yellen is doing with with joe biden so you've mentioned it

00:08:47.580 they've had at least six seven dates which were the x dates you know and we we've heard this now

00:08:53.480 for months the reality is she won't tell us what the dollars are but i will tell you what we know to

00:09:00.100 be true so in a normal month we're going to bring in about 400 billion dollars and we're going to spend

00:09:05.080 about 500 a little over 500 billion dollars so you have this gap of 100 120 billion dollars in

00:09:10.520 deficit spending but according to the speaker's office itself the data that i have sitting on my

00:09:17.520 desk that they gave me the number for june of 2023 was projected to have to borrow about four or five

00:09:25.280 billion dollars to get through that month uh and so what i'm telling you is instead of only bringing

00:09:31.300 about 400 sometimes less even less than that we're going to be close to 500 billion dollars in revenue

00:09:37.320 for for june and but she's saying that that's the end of the world and it's going to be a default

00:09:43.120 it will not be a default because we actually have income and revenue coming in and if she would

00:09:50.640 adhere to the rescissions that were passed out of the house and that i'm urging with new legislation

00:09:56.220 to to to be done immediately then she wouldn't have to borrow any money you would kick this can down 1.00

00:10:02.440 the road another month or two and that's probably the best that conservatives can hope for at this

00:10:08.100 point is to at least kick the kick it down the road until we get more spending cuts come in

00:10:12.800 the spending cuts you're saying coming through the appropriations process or

00:10:18.300 because right now the hills reporting let me just run you through the punch list of the between the bid

00:10:24.840 in the ask that there's there's they're still fighting over budget caps they're still fighting

00:10:30.140 over uh no defense cuts versus uh just cuts to domestic discretionary spending they still the

00:10:36.980 democrats have dug in hard on any work requirements and about the timeline the democrats want the

00:10:42.320 timeline to kick to 2024 which will mean i don't know a three or four trillion dollar increase to the

00:10:48.380 debt ceiling of course uh we want it uh in march basically a year from now in march of 2024 excuse

00:10:54.140 me march 2024 the democrats want to kick past the election past election day because they understand

00:10:59.520 this is terrible for them politically with that kind of gap with that kind of gap where do you think

00:11:05.780 you actually stand in these negotiations well i think that i think that they're pretty pretty far

00:11:13.040 apart i mean that's that's what i heard this morning first thing from um uh you know media types who are

00:11:20.840 calling me and talking to me as i'm walking through the capitol and it sounded to me like it's pretty far

00:11:26.380 apart um and mr mccarthy the speaker has indicated that he thinks that there's been some positive movement

00:11:33.520 but any movement at all would be positive because the democrats joe biden schumer they've had a bill now for

00:11:41.740 about a month uh of speaker mccarthy's plan and they've just done nothing um i think it's a huge

00:11:49.740 gap myself and i think that we need to just say repeatedly we gave you a plan you now produce your

00:11:59.120 plan and see if you can even get the votes for that plan in the senate my guess is they can't

00:12:03.940 and if they can't then they should be adopting the house plan as as much as i view with disapprobation

00:12:11.680 it's certainly better than what i'm hearing from the democrats because steve if you go to if you go

00:12:17.220 out into 2025 past the november election and they they're talking about january february of 2025

00:12:22.420 because they want to pass the inauguration if you go that far you're you're well in excess of four

00:12:28.980 trillion dollars based on jenny yellen's uh you know yammering about what cheap spend is exactly 0.98

00:12:36.340 um do you believe by the way in the appropriations bills are going through right now because you've

00:12:43.900 put in how many different uh you've put in over 500 you've proposed i think 500 separate or 525

00:12:50.880 separate um cuts to spending am i correct in that yeah that's right everything from actually

00:12:57.700 eliminating certain agencies to reducing programs to to reducing spending and i was actually reviewing

00:13:04.700 those over the weekend um and i you know without getting the specifics i do i do think that that

00:13:10.720 if we started doing that we could actually start bending the curve down right now the curve is not

00:13:15.640 being bent down by either side it's it's so so i hate to use a homely example but if the if the if

00:13:21.400 it's growing at this rate right here with that slope under the biden proposals and that's the baseline

00:13:27.780 the republicans are growing it about like that and i'm from actually bending the spending curve down so

00:13:33.860 you aren't using deficit spending so much um that's the only way in my mind that we're ever going to

00:13:40.240 turn this this uh recklessness uh around and prevent us from going off a fiscal cliff it may actually be

00:13:47.200 too late but i'm hoping that it won't be too late uh congressman i know you gotta go for votes can we

00:13:54.400 hold you through a short commercial break i got a couple of other uh questions on this topic that the

00:13:59.340 audience wants to hear do you have to go for votes i have i can go for a short break and then i then

00:14:04.440 i've got to be out of here by about 5 22 dc times perfect that gives us five okay short commercial

00:14:13.420 break congressman andy biggs is going to stick with us we're getting for about three to five minutes on

00:14:18.580 the other side we'll make good use of that he is the author first off he's one of the six right

00:14:24.620 the magnificent six he's also the anchor for the 20 those are the ones that have actually gotten us

00:14:29.220 here and put the war room posse in as the head of the uh creditors committee we told you it wasn't

00:14:36.840 going to be easy bunch of people out there want to blink you got to hold the line congressman andy

00:14:42.540 biggs arizona five next we got jeff clark about the 14th amendment another gimmick that the rats

00:14:48.760 the illegitimate biden administration trying to shove down the american people's throats

00:14:52.340 also we're going to go to arizona wendy rogers on the state senate taking back control of their 1.00

00:14:58.180 elections president trump recently issued a warning from his home at mar-a-lago and i want to quote this

00:15:05.980 our currency is crashing and will soon no longer be the world standard which will be the greatest

00:15:11.840 defeat frankly in 200 years end quote he did that in the interview that i had with him a couple weeks

00:15:17.900 ago at his home now there are three reasons the central banks are dumping the u.s dollar

00:15:24.960 inflation deficit spending in our insurmountable national debt the fact is there's one asset that

00:15:33.960 has withstood famine wars and political and economic upheaval dating back to biblical times that would be

00:15:40.660 gold gold gold has been a hedge against chaos from time immemorial and you can own it in a tax

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00:16:59.720 to get this information and start the process do it today take action here's your host stephen k bannon

00:17:06.760 okay we've only got uh congressman biggs for a couple of minutes so he's got to go to florida vote

00:17:12.800 walk me through the audience walk me through this rescission what what does that mean when you say give us

00:17:18.360 more time because what the proposals on the table that that's not the baseline of the house freedom

00:17:24.960 caucus or yourself or the 20 or the six that's kind of like we'll accept it but we're not happy

00:17:30.200 with it right that's like the most you could possibly give you can't everything has got to

00:17:33.840 come back from there not not advance forward and give the democrats more am i incorrect in that

00:17:38.180 congressman biggs no steve i think that's right i think that that what the with the freedom caucus

00:17:43.180 um and got through with uh with the speaker was a ceiling uh and not the baseline in other words

00:17:51.000 that's probably the max that you really go and i don't want to speak for them because you know

00:17:55.280 they get to make their decision but i will i will tell you what what i'm proposing is uh is you take

00:18:03.600 back some of the money that even that the entire conference voted for the republicans voted for and

00:18:08.400 some democrats should have voted for like uh you take back um the irs money which by the way was

00:18:16.600 originally 80 billion then by the time the house voted on it was 71 billion my guess it's probably

00:18:22.120 62 to 63 billion dollars that you could rescind right now that's money you could get in as quickly

00:18:28.200 as possible and then and then uh when we voted it was the covid relief money was probably 50 billion

00:18:34.240 don't forget that was just three months ago that was almost 200 billion but it's probably 25 to 30

00:18:39.220 billion that 100 billion dollars roughly 90 to 100 billion dollars you have is is just shy of what

00:18:45.700 would give you a full uh 30 day month uh savings so you wouldn't have to go right in and do the

00:18:54.620 debt ceiling uh in june 1st or june 15th even you would have a chance to actually uh try to implement

00:19:02.120 additional rescissions maybe maybe additional cuts to try to turn the spending spending curve down

00:19:08.340 that's what i'm suggesting and um quite frankly i think it would put more pressure on yellen i think

00:19:14.640 it would put more pressure on biden and i think it put more pressure on the senate um it because then

00:19:19.760 they would have to say well all right we're we're we're not going to do this short-term deal uh because

00:19:26.860 we we want to go ahead and and uh they they're the ones that say default i don't say default but

00:19:32.320 they want to keep saying that they're going to default i don't believe we default i believe that

00:19:36.080 there's money and that would just keep coming it's impossible yeah it's impossible default they got to

00:19:41.200 make a decision there's plenty of cash to pay the interest is but now to pay all your bills that's

00:19:46.440 different that's not a default as you know this is the game they're playing with nomenclature i understand

00:19:50.600 you got a punch where where do people keep up with you congressman biggs and we try to get you on

00:19:55.960 here tomorrow by the way just hearing right now mckenry and uh i think mckenry and um maybe going

00:20:01.760 with mcconnell they're heading over to the white house right now what um how do people track you

00:20:06.920 down on social media where they go on your website biggs.house.gov is my website and you can look at

00:20:12.680 me at at rep andy biggs az at rep andy biggs az congressman biggs has given a uh a really good

00:20:21.640 interim solution here congressman thank you very much appreciate it steve

00:20:25.760 so uh this mccarthy said this today that uh you know he may only need if it's 180 to 200 votes

00:20:35.300 that means he would throw the house freedom caucus under the bus that would create a firestorm that

00:20:39.840 means his um his speakership depends upon active democratic support and not just the conference

00:20:47.600 and that is a that is going to be a wild one so we're going to have to um you don't need to man 0.84

00:20:53.720 the phones right now let's just see what happens here but the bid in the ass the democrats are not 0.55

00:20:58.580 giving on the they're they're not happy with the budget caps which is the one percent growth which we 0.53

00:21:02.700 hate right but they think it's too too severe remember they just want to unlimited spend they're

00:21:07.120 like children defense spending versus not as crazy hey i'm all for if you got to cut the defense

00:21:11.920 budget you got to cut it and this should be the entire focus i got hey for the democrats you want

00:21:16.760 to cut the defense budget let's start with the hundreds of billions of dollars we're shoveling

00:21:20.940 over into the churnal house of ukraine where all the ukrainians are getting absolutely hammered 1.00

00:21:26.360 uh the work requirements remember you that first got brought up here by the great matt gates who

00:21:32.260 walked through exactly this and gates wanted 40 hours what are we for for able-bodied people it's

00:21:38.540 now 20 hours it's nothing the worker cross put up there's absolutely nothing for medicaid and of

00:21:44.020 course they they've rejected that's too much plus the timeline remember big saying they want to go

00:21:49.840 to february 25 that's about three and a half to four trillion more dollars guaranteed because they

00:21:55.640 won't cut the spending we're prepared to go to march 2024 which i'm not happy about actually

00:22:01.240 i will tell you with the economy slowing down the biden economy slowing down it would be earlier in

00:22:07.820 that remember it's one and a half trillion dollars or march 24 whatever comes first that's what the

00:22:14.560 hill's reporting the the gap is and of course you're hearing that hey there may be caving all around but

00:22:19.580 we'll have to see meeting at the white house um in the six o'clock hour i think they're going to finish

00:22:24.960 their meeting at the white house and come out for uh to go to the sticks we'll pick that up live and

00:22:29.800 there's supposed to be a press conference on capitol hill at seven o'clock now he's been talking the

00:22:35.080 talk we're going to see he's if he walks the walk right now um okay we got a lot to get to uh let

00:22:41.020 me like i got a cold open here for the jeff clarker and talk okay two sets of gimmicks the cornered rats

00:22:47.220 that are the democrat party that will not face financial reality and look to actually cut this

00:22:54.240 radical out of control orgy of spending they got two gimmicks they got they're going to print a magic

00:22:59.280 coin that's going to be worth trillions of dollars just deem it's a commemorative coin they're going to deem

00:23:03.700 it's worth um a trillion dollars because something in a law they passed decades ago about commemorative

00:23:09.900 coins there's one prepositional phrase this is how these people work there's a prepositional phrase

00:23:15.480 they think they can go right through the eye of that needle to basically get around the debt center

00:23:19.620 this is how this is how addicted this is an addiction the addiction is just shovel out money

00:23:26.740 that we don't have the other is this fantasy the fantasy about the 14th amendment let's play this

00:23:34.300 i'm gonna play you something from jay carney spokesman for the president of the united states that

00:23:39.060 president of the united states would be barack obama and this would be in 2013 the last time

00:23:43.020 we went through this uh episode let's go and play it i mean i'm not sure what this is when it comes

00:23:48.100 reaching the debt ceiling the congress has to vote to raise the debt ceiling the president can't raise

00:23:54.820 it by himself uh people have talked about uh the 14th amendment and this administration does not

00:24:00.180 believe that the 14th amendment gives the power to ignore the debt ceiling and even if the president

00:24:04.900 could ignore the debt ceiling uh the fact that the fact that there is significant significant

00:24:09.140 controversy around the president's authority to act unilaterally means that it would be not be a

00:24:14.020 credible alternative to congress raising the debt ceiling uh and would not be taken seriously by

00:24:18.500 the global economy and market jay carney uh jeff clark correct me if i'm wrong barack obama wasn't the

00:24:27.860 one gig he had he was a constitutional lawyer who taught constitutional law uh at a university uh i think

00:24:34.500 he would i think he not that he followed the constitution all time but he at least knew about it sir

00:24:39.620 uh yeah he knew something about it he was kind of the equivalent of uh uh uh junior

00:24:43.940 professor a little notch below that as a lecturer at the university of chicago law school and

00:24:48.260 constitutional law which they love to tout and and look steve you know i didn't uh agree with uh carney

00:24:55.220 much when he was on the mclaughlin group years ago or in time magazine or as obama's spokesman but here

00:25:01.140 he nails it both of those points are right there is no authorization in the 14th amendment at all

00:25:06.180 for the president to unilaterally authorize debt nor uh you know would that actually be a good

00:25:12.900 thing for the national economy and world markets because if congress isn't backing it up and if

00:25:18.260 it's not backed up by law then you're going to be in a spot where no one's going to want to get that

00:25:22.340 debt or they're going to want a massive premium and what you have up on the screen now is the text of

00:25:27.700 the 14th amendment you know before i parse that a little bit let me just say look this is coming from

00:25:32.980 the pied piper of uh trump derangement syndrome at this point uh larry tribe the harvard law school

00:25:39.380 professor and here are the three key points i've highlighted in the yellow from the text of the

00:25:43.700 14th amendment it's that the validity of the public debt uh is what you know should not be questioned

00:25:50.100 that it's debt that is authorized by law and finally section five the first two provisions were from

00:25:56.500 section four section five says that congress is in charge of how the 14th amendment works so you see

00:26:01.300 there's nothing in there about the president and look if the debt ceiling that is currently in law is

00:26:07.220 enforced the validity of the public debt is not being called into question is not being repudiated

00:26:12.820 the point of that provision is that originally the civil war debts of the union would not be repudiated

00:26:20.500 by a new government that would be including representatives from the south again but that

00:26:25.300 all the confederate debt would be repudiated no one is talking about repudiating the national debt to any

00:26:31.460 extent uh steve so this is just a you know an idea that uh you know tribe is trying to sell to

00:26:38.580 people in the biden administration even though no one bought it in the obama administration it's quite

00:26:44.180 remarkable um and that authorized by law clause is clear that congress has the power to decide by law

00:26:52.820 what debts it takes on one of the things that tribe misses is that there's a distinction between the

00:26:57.780 first clause and the second clause of section eight of article one where uh you know the the congress's

00:27:04.500 power of the purse is housed the first clause of section eight says that congress can spend money but the

00:27:10.020 second clause talks about the borrowing power so here you have congress kind of in a you know uh bifurcated

00:27:16.740 or trifurcated process really you know they have authorization of money that's spent then they have

00:27:21.620 appropriation of money that's spent and then they decide how much uh you know to authorize for

00:27:27.140 borrowing under the debt limit and tribe wants to ignore the third leg of that stool the uh the debt

00:27:34.740 limitation and just focus on money that has been authorized and appropriated and then try to argue

00:27:40.340 that uh the treasury has to automatically borrow all of that money and if congress won't go along president

00:27:45.940 and biden's going to do that unilaterally this is something that is completely uh off the the

00:27:52.020 reservation totally out on planet xenon that has never been done before there's some folks have

00:27:57.380 talked about it but it's just to imagine that they're really contemplating doing it it is a trick

00:28:01.860 it is a gimmick it's totally unconstitutional every serious constitutional law professor who has not

00:28:08.660 succumbed to uh trump derangement syndrome like jonathan turley or sai krishna prakash or

00:28:14.820 jonathan adler or several others michael mcconnell who was on the 10th circuit appointed by uh bush 43

00:28:22.580 they all agree that this is complete wackiness and it makes no sense under the constitution steve

00:28:30.020 it's not a part of leverage jeff i'm gonna ask you to hold on we get some more so i'm gonna come

00:28:33.060 back to this in a second fox is reporting you just heard it from andy biggs fox is reporting that

00:28:38.500 the white house in the house on agreement to i think rescind some of the previously

00:28:44.660 approved covid funding we're gonna get some more details than that but this i think would give a

00:28:49.220 little runway a little breathing room maybe so they could take off memorial day weekend and not have

00:28:55.140 to sit here and haggle over this okay short commercial break we're holding the line here

00:28:59.460 in the war room back in a moment

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00:30:41.380 okay we're trying to get uh senator rogers up she's out i think she's out in flagstaff or

00:30:46.100 prescott or somewhere in one of the parts of the beautiful state of arizona we're gonna get her up

00:30:50.900 a big movement today in arizona about the state senate throwing down hard about who's in charge out

00:30:57.060 there with the uh with the elections we had sonny borelli on this morning we're gonna have

00:31:01.300 wendy rogers as soon as we track her down um so uh fox business is reporting it's it's covet funding

00:31:08.980 uh that's been approved they're going to essentially rescind that uh i'm sure we're going to hear about

00:31:14.100 that at whatever this press is going to be that may be what andy biggs is talking about he's saying

00:31:19.620 there's some covet spending you could rescind and in doing that would give you more flexibility my

00:31:25.620 problem with the whole thing we don't have any numbers yet i've done a ton of restructurings in

00:31:31.700 my life um and uh a ton of bankruptcy work right a ton of bankruptcy work to going into these

00:31:38.020 entertainment companies you know redoing the capitalization table working with the banks

00:31:41.460 working with the junk bond holders working with the equity holders you start off with a model

00:31:46.340 you start off with a model this is one of the problems remember if those that watch the show

00:31:51.620 back in the war and pandemic days one of the first things i say is why

00:31:55.140 or fauci why why they come out with their own model why we have to go off the model of

00:31:59.060 a university of washington at seattle why do we have to go off some of these british uh universities i

00:32:04.020 think the university of southampton why do we have to go with the university of hong kong yes these are

00:32:09.380 these have uh some of the great research centers about uh epidemics and pandemics uh they put their

00:32:15.060 models out but why don't we have our johns hopkins had a model remember that why don't you put out

00:32:20.500 your own models like a company puts out their own projection hey here's where our earnings are going

00:32:24.660 to be they're not guaranteeing that's going to happen but they put it this is our best case this

00:32:29.060 is our best thinking of what it's going to be this is going to be our earnings per share

00:32:32.820 and our revenue over time and of course they have other research analysts that that look at that and

00:32:37.540 applying to it and have their own sets of numbers out there and then they put out the reality

00:32:41.860 every quarter and that's how the stock bounces around oh they they they were better than forecast

00:32:46.100 they were under forecast think about we're having a negotiation over the future financial direction

00:32:51.460 of this country and in one level it's total amateur hour because you're not you're not dealing in

00:32:56.580 reality you're dealing in kind of this happy talk rhetoric i want these cuts i know i want to slow

00:33:01.700 down the growth rate let's just get to the math the simplest math is uh give just give me cash in

00:33:07.940 a cash out when we used to do restructurings i would tell people we had a thing over the door

00:33:12.180 at my firm EBITDA is an opinion cash is a fact right you got uh you know EBITDA people can or that's

00:33:19.860 earnings before interest taxes depreciation in amortization and people can throw anything in

00:33:25.700 there that's not it's it's supposed to be a proxy for cash flow it doesn't mean it is cash flow

00:33:30.900 it could be wildly off of some of the assumptions or people could be hiding things or people could forget

00:33:35.140 things what they used to do is say okay you have the beginning period had a balance sheet you have

00:33:40.020 mr a a um a uh an account there called cash and marketable securities that can be turned into cash

00:33:47.780 that's called mr cash and then you have a mr then you have that same thing at the end that's

00:33:52.020 that's how much cash you generate everything else is kind of happy talk here we're trying to negotiate

00:33:58.740 the financial future of the country we cannot go on in this orgy of spending and look at the

00:34:03.540 the democrat party they're totally irresponsible they're just spending in oblivion they don't care

00:34:07.620 they're the ones that open the border for 10 million people they've got no way to pay for 1.00

00:34:10.660 this it's all coming off of you you're the sucker that's paying for it you're the sucker that's paying 0.99

00:34:15.700 for it that's why you really got to get up close and personal this week uh with your representative in 0.99

00:34:20.740 the house i don't want you to call now let's let's just see what that let's just see what they come

00:34:24.100 back with today no need to jump the gun here you've done your work so far you're at the you're you're

00:34:29.940 the chairman of the creditors committee remember the chairman of the creditors committee they're

00:34:32.980 going to try to you know fake to do do some spin moves all of it and that's what we should demand

00:34:40.660 give us the numbers just don't send us a letter saying oh it's going to be the first going to run

00:34:44.020 cash first off you cannot default on the national debt and we're not going to let you change the

00:34:48.500 nomenclature that's different the full faith and credit of this nation in in defaulting on our debt

00:34:54.180 is a totally different conversation than paying your bills you can't pay you can't we know you

00:34:59.780 can't pay your bills because you've run up six trillion dollars every year and all your revenues

00:35:05.540 that come in are a tree into a tree and a half dollars less than that that means we got a couple

00:35:10.340 options right either tax revenue grows because we're growing the economy and that's not happening

00:35:15.380 the economy's growing at 1.1 percent you could try to sell a bunch of bonds to the japanese chinese

00:35:20.420 insurance companies that's not going to happen they got a limited appetite some appetite of course

00:35:24.900 the chinese are trying to get rid of it and they're going to gold one of the reasons i try to go to 0.99

00:35:28.980 birch gold all the time the guys used to own government securities even at higher interest rates

00:35:33.780 where they get better yield they're buying better yield they're going to precious metals why because

00:35:38.420 they understand they understand the democratic party in the establishment mentality to essentially buy

00:35:44.740 votes this was this whole thing with the uh with the student loan fee the unconstitutional as

00:35:50.100 jeff clark would say the student loan fiasco of which he still paid off 66 billion dollars for

00:35:55.140 these deadbeats they wanted a trillion they wanted to train does he paid off 66 billions what i think

00:36:01.300 is still illegal for these deadbeats so it's uh but right now that's what we need to see the numbers

00:36:08.020 and we should dig in and there should be no give back the deal that's on the table that passed

00:36:13.460 we're not happy with we don't think it really cuts spending it cuts the rate of growth

00:36:18.020 right and it cuts you know maybe but doesn't go back to pre-covid which we want which we demanded

00:36:24.820 right so we're we're we are we're sitting here we're not happy but i guess what we're not backing

00:36:30.420 up one inch i say ed you heard the reports today from geneva on who michelle bachman in the room

00:36:37.940 she'll be back tomorrow we got senator rogers okay hang on let me go senator wendy rogers now joins us 1.00

00:36:43.860 from from flagstaff arizona senator gunny borelli was on today please tell us exactly what is going

00:36:50.820 on what have you guys done in arizona the state senate's kind of thrown down and said hey we're

00:36:56.020 in charge here and you've got a particular machines and other aspects of the voting you just can't go

00:37:01.540 katie hobbs and these radicals out there can't go and recreate what happened in 2020 or 2022 ma'am 1.00

00:37:08.340 hi steve great to be with you uh from flagstaff yes uh sonny borelli outlined it this morning

00:37:14.020 senate concurrent resolution 1037 did not i say again did not require the governor uh to sign off

00:37:23.460 uh the house and the senate uh voted on this and what it does is it reclaims our state legislative

00:37:31.460 plenary power per the u.s constitution over federal elections not state elections federal elections and

00:37:40.660 so this was transmitted once it got voted on out of the two chambers not to the governor but to the

00:37:47.300 secretary of state and as such uh the follow-up letter uh borelli sent out this morning to the 15

00:37:56.500 counties essentially said uh we are reclaiming our plenary authority you are not to use machines in any

00:38:04.580 way shape or form unless they can comply with strict criteria laid out in five pages of our senate

00:38:13.620 concurrent resolution this is amazing i take it that katie hobbs in the in the um the cartel lawyer

00:38:23.140 that is currently the secretary of state they're just not going to sit there and go hey uh gunny

00:38:27.460 borelli senator rogers this is amazing thank you why didn't we think of that i i assume they're going

00:38:33.220 to go to court to try to have a showdown of who's actually in charge there the state legislature as

00:38:39.060 outlining the constitution of the united states or themselves well uh we'll see you in court if

00:38:44.660 that's the case uh sonny and i have talked about this the legislature the legislative branch is the

00:38:50.980 strongest of the three branches and it's by design because it's the hardest to sort of herd all of us

00:38:57.700 cats and uh as such you know we've held incredibly uh cohesively strongly together this session we got a

00:39:06.100 budget uh passed uh at the earliest point ever with oh by the way a 216 million dollar 260 million dollar

00:39:16.340 tax rebate and we also uh protected the esa the uh empowerment scholarship accounts uh we are i guess

00:39:25.140 you could say the adult in the room uh in arizona and so we 16 republican senators have been well led we have

00:39:34.100 each other's backs and we voted for this and we're reclaiming our power and in this five page uh senate

00:39:43.220 concurrent resolution it's very detailed on the fact that the federal government uh said in 2017

00:39:51.220 that these machines are a problem and that they are corruptible and they are accessible uh by those who

00:39:59.060 are enemies of the state and uh it enumerates among these five pages uh to the brand es and s dominion

00:40:08.820 and so forth and it says that we're not having any of this because the essential wording is it is

00:40:15.460 critical infrastructure i remember this is what dhs put out uh back then uh you also you sent this

00:40:25.860 gunny borelli also did as you mentioned sent it to the the uh counties uh there's one county in mine

00:40:32.340 i've got called maricopa that hasn't been very receptive uh to uh to observations by the legislature

00:40:39.700 how do you think that's going to play out well they probably uh burped and spilled their coffee this

00:40:45.220 morning when they got it uh so you know we'll we'll see how it goes from there uh where it you know and

00:40:51.780 borelli put out a press release uh either this morning or last night uh this is high time and

00:40:59.220 also i would submit to everyone listening this is a blueprint for the rest of the nation all the

00:41:06.820 other 49 states need to be doing this very thing and again this has to do with federal elections so

00:41:15.540 you're going to ask me well senator rogers how's that going to play out well who knows there might

00:41:21.700 end up being two ballots a paper ballot for the federal uh candidates and uh you know business

00:41:28.340 as it has been done uh for state candidates who knows are you prepared to to to back that up you're

00:41:37.300 prepared to say hey we're we're going to run these the way they have to be run uh we're the state

00:41:43.140 legislature and we're in charge of federal elections not the federal government uh they're obviously going

00:41:48.500 to take you to court but you're prepared to back that up and if they say well the state elections

00:41:52.420 will have the machines are you prepared to say well we're going to have paper ballots well it'll be up

00:41:57.700 to the county and uh you know i am prepared to go to the map because i was just on another show earlier

00:42:04.740 here in flagstaff and they said well you know does this so say for example on carrie lake i mean how

00:42:12.580 much longer is she going to fight this this diminishes her and i said that's secondary to

00:42:18.180 carrie lake that's secondary to me that's secondary to sonny barelli and the rest of my caucus what is

00:42:25.620 paramount is that we stretch this out as far as it takes to get the truth out because the truth is a

00:42:33.700 demanding mistress wow uh senator uh wendy rogers how do people get to you what's your social media

00:42:42.100 what's the website i am all over social media the same uh call sign wendy like the hamburgers

00:42:48.580 rogers like mr rogers r-o-g-e-r-s-a-z wendy rogers az 0.92

00:42:55.700 senator rogers uh this is magnificent uh fantastic we look to follow this closely in the days ahead and

00:43:01.460 we totally agree with you georgia michigan wisconsin pennsylvania a few random names i can

00:43:07.860 come with nevada should pick take this up immediately ma'am i agree with you one thousand 1.00

00:43:11.460 percent hopefully you're going to talk to your colleagues uh who i know you did it toward think

00:43:16.180 very highly of you talk to your colleagues in those states and let's let's get it let's roll

00:43:20.820 well absolutely and uh we are here to serve i serve my constituents and uh that is you know those

00:43:29.140 are who elected me and i take that very very seriously and uh i took an oath and sonny did

00:43:35.780 also to support and eli crane also to support and defend the constitution of the united states against

00:43:42.980 all enemies foreign and domestic and you took that oath also steve that's a lifetime oath

00:43:51.700 colonel rogers thank you very much honored to have you on here look forward to getting into this more

00:43:55.780 absolutely sir god bless america

00:44:01.620 colonel now senator state senator wendy rogers uh she's tough as boot leather gets out ahead of 1.00

00:44:08.660 the wagon train every now and again but you need those type right because she's always on offense 1.00

00:44:14.820 always pressing the bet okay short commercial break we're gonna return i got jeff clark we got a lot

00:44:21.300 going on tomorrow we had other parts of the show we couldn't get to colonel mills is going to be with us

00:44:25.300 tomorrow morning we're talking about taiwan the ccp and the invasion of and the surrender at the g7

00:44:32.420 this weekend jeff clark next on the administration in my younger days i was a naval officer on a

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00:47:05.380 okay natalie winner is going to pick up here at six o'clock i may jump back in on phone uh she's got

00:47:10.100 a bunch of guests she's also i think as soon as mccarthy goes to the sticks there's a lot going on

00:47:14.420 everything's about the debt ceiling make sure you go to um birchgold.com slash bannon download

00:47:20.980 the end of the dollar empire we need you totally up to speed on what's going on the debt trap get it

00:47:26.580 read it uh we should have a q a on it maybe i do one do something on getter to actually present maybe

00:47:31.860 doing the six o'clock show to walk everybody through it you're in the catbird seat and there's gonna be

00:47:36.900 some heavy rolls hey i'm not here to tell you otherwise they're talking about just overriding the house

00:47:42.980 freedom caucus and going to 180 to 200 republican votes and letting the democrats basically that'd

00:47:49.700 be the biggest blink in recorded history because these cuts are not that much this is kind of

00:47:53.860 de minimis what they even have to do uh jeff clark another big thing president trump has um

00:48:00.100 essentially said the greatest enemy the country has is the administrative state in the deep state

00:48:06.980 that the fourth branch of government has kind of metastasized into you hear everybody run around

00:48:11.380 that the president doesn't control the the doj and you know the getting ready to indict trump on

00:48:15.940 nine more charges walk me through your thoughts on this sir you you were um very senior uh in the

00:48:22.980 doj in the department justice under president trump and you'll have even a more senior role in the second

00:48:27.060 term walk me through all this there's a bunch of chatter going out right now about the administrative

00:48:32.100 state what do you make of it sure steve so look the uh chief law enforcement officer of the united

00:48:40.180 states period full stop is the president of the united states he shall take care in article two

00:48:46.500 that the laws are faithfully executed it's not the attorney general uh the left pretends as if it is

00:48:52.180 the attorney general or even officials south of the attorney general the justice department steve wasn't

00:48:57.060 even created until 1870 and the attorney general office isn't mentioned in the constitution the entire

00:49:03.380 justice department reports to their superior officer the president of the united states

00:49:07.780 and ever since watergate we have seen as one of the worst uh you know sort of cancer ridden

00:49:13.780 properties of the administrative state being arguments that the justice department is and must

00:49:18.900 remain and must be fortified in being independent from the president and there's nothing more corrosive

00:49:25.060 that to trying to get rid of the administrative state than that kind of thinking because basically

00:49:30.260 the president is the one who is deciding you know how to enforce the the federal laws but then he's told

00:49:36.420 well you know the justice department doesn't agree and they're independent of you and they're the ones

00:49:40.500 who are going to defend uh you know your uh regulations your policy initiatives in the courts and so you

00:49:47.220 know sort of uh tough uh you know deal with that and then you have all the members of the media the so-called

00:49:52.500 elite media like the new york times uh the washington post uh you know the atlantic uh etc all sort of

00:50:00.020 rolling out the idea just to teach people wrongly over and over again that the justice department is

00:50:05.780 independent and i have a paper out that's up on the center for renewing america's website i talked about

00:50:11.700 it briefly with natalie last week uh that explodes the myth that the justice department is independent

00:50:17.460 and explains basically how what starting with with uh professor wilson before he became president

00:50:23.380 woodrow wilson uh did was to try to you know say that the president should be dealing with very general

00:50:29.060 matters but the actual administration of the government that's that's for the experts and

00:50:34.420 they're to be left alone in you know doing uh uh the their own thing and building an administrative

00:50:41.380 state you know he said back in the 1880s we've already spent too much time building a constitution

00:50:46.500 it's time to sort of put that stuff aside you know and i count that he sort of thought that

00:50:51.540 constitution was in need of 10 major overhauls by the time we got to the 1880s by his math uh and you

00:50:58.420 know that's the thinking that really has become the undergird for the administrative state steve and

00:51:04.100 you know it's the administrative state started in that wilson-like progressive era it really kicked

00:51:08.820 off in the new deal with fdr but when watergate came along and this whole uh very acidic idea of an

00:51:16.180 independent doj came on i think a lot of our modern uh uh problems you know in terms of how the federal

00:51:22.900 government works traced to that mistaken notion and certainly a lot of what they tried to pull

00:51:27.940 on president trump with restricting him from how he could communicate with with doj or doj even senate

00:51:34.100 confirmed officials could communicate with him it's an attempt to just stick him off in a box you know

00:51:39.220 think of him as a quaint official who gets to preside almost like a european uh president uh you know not

00:51:46.260 like the actual uh chief governor of the nation and its executive branch correct me if i'm wrong

00:51:53.780 isn't it in the company referred to as chief magistrate isn't one of the titles of the president

00:51:59.140 hall he's chief magistrate right he's the head he's the head of everything dealing with the law

00:52:04.740 in the u.s i think while he's president correct i think that terminology is in the federalist papers but

00:52:10.420 you know it's it's ancient terminology really and um you know it's uh it's obvious that the framers

00:52:17.620 they looked at different systems and one of the things i cover in my paper is federalist paper 76

00:52:23.380 where different systems for appointing uh either principal officers or inferior officers in the uh

00:52:30.260 federal government were considered and you know they arrived at a system where the president was the

00:52:35.220 prime mover for all the principal officers like all the members of the cabinet the president

00:52:39.860 nominates and then the senate only gets you know to provide its advice and consent and then for all

00:52:44.660 the other officials in the executive branch what the president says goes and they the framers wisely

00:52:50.500 decided not to sort of have you know just a pure committee process to appoint those members or give them

00:52:56.660 terms that exceeded that of the president they're all subject to and they serve at the at the pleasure

00:53:01.860 of the president they can be removed at his pleasure as well uh jeff social media how they get over to

00:53:08.900 the uh to the center so the center is americarenewing.com and if you search for uh you know doj is not

00:53:16.020 independent you'll find that paper pretty quickly i'm jeff clark us on getter and twitter and real jeff

00:53:21.700 clark on truth social steve uh thank you very much sir look forward to having you back thanks steve and

00:53:29.780 i'm sure we will and i'm sure we will in this 14th amendment that's a gimmick trust me they're going to

00:53:34.100 try to pull that with the coin okay natalie winner is going to pick it up next i may be back by phone

00:53:40.180 uh we're going to go to the sticks outside the white house as soon as this meeting breaks up and

00:53:45.220 there's going to be a conference at 7 p.m tonight a uh a press conference by mccarthy everybody strap

00:53:52.420 in you're the head of the creditors committee it's game day here in the war room natalie with the rest of the show

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Bannon's War Room - May 22, 2023

Episode 2751： The Rats Are Gnawing Away On The American's Wallets

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