Bannon's War Room - Episode 3064： The Rejection Of Democracy And Demolishing Of Your Finances

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

00:00:11.700 these people here's not got a free shot all these networks lying about the people the people have

00:00:18.320 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:22.080 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:25.660 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:33.480 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:41.420 country this country will be saved war room here's your host stephen k bann

00:00:48.580 i've come to honor the mccain institute and library because they are a home of a proud republican

00:00:58.820 who put his country first our commitment should be no less because democracy should unite all

00:01:05.520 americans regardless of political affiliation and there's something dangerous happening in america

00:01:10.780 now there's an extremist movement that does not share the basic beliefs in our democracy

00:01:16.060 the maga movement not every republican not even a majority republicans adhere to the magus extremist

00:01:22.980 ideology i know because i've been able to work with republicans my whole career but there's no

00:01:29.200 question that today's republican party is driven and intimidated by maga republican extremists

00:01:34.700 their extreme agenda have carried out with fundamentally all of the institutions of american

00:01:40.140 democracies we know we're pushing a notion the defeated former president expressed when he was

00:01:47.520 in office and believes applies only to him and this is a dangerous notion this president is above the

00:01:55.040 law no limits on power trump says the constitution gave him quote the right to do whatever he wants

00:02:03.340 as president end of quote

00:02:04.500 i've never heard a president say that in jest

00:02:09.620 not guided by the constitution or by comment service and decency toward our fellow americans

00:02:19.400 but by vengeance and vindictiveness just consider these as actual quotes from

00:02:26.080 maga the maga movement quote i am your retribution

00:02:30.340 slitting throats of civil service replacing them with extreme political cronies

00:02:37.060 maga extremists proclaim support for law enforcement only to say we quote we must destroy the fbi

00:02:45.460 it's not one person it's a controlling element of the house republican party

00:02:53.840 whitewash attacks of january 6th by calling the spearing and stomping of police a legit quote a

00:03:03.520 legitimate political discourse

00:03:05.400 do you ever think you'd hear leaders of political parties in united states america speak like that

00:03:11.400 the accusations against of treason treason against the major new news network because they don't like

00:03:19.680 his coverage

00:03:20.360 i don't know what the hell i'd say about fox if that becomes the rule

00:03:25.440 but think about it i'm joking but think about it

00:03:30.520 i have the honor of overseeing the chains of responsibilities of the chairman of the joint

00:03:35.800 chief of staff of the united states military from one genuine hero and patriot general mark milley

00:03:41.320 to another general cq brown both both defining leaders of our time

00:03:49.140 and yet here is what you hear from maga extremists

00:03:53.280 about the retiring patriot general honor and his oath to the constitution

00:03:57.520 quote he's a traitor end of quote

00:04:01.360 in times gone by the punishment quote in times gone by the punishment would have been death

00:04:08.360 end of quote

00:04:09.480 this united states america

00:04:15.180 this is the united states of america

00:04:19.540 and although i don't believe even a majority of republicans think that

00:04:26.540 the silence is deafening

00:04:30.080 response to the warning from the president today

00:04:32.180 it's disqualifying uh for him to serve in public in any public office but of course

00:04:38.860 uh the voters decided otherwise uh eight years ago or seven years ago

00:04:43.460 uh it's you know we really are at an inflection point the interesting thing is this is going on all

00:04:48.380 over the country i mean all over the world there's a guy running for prime minister in slovakia

00:04:53.360 who is a huge usually corrupt quite possibly involved in the assassination of a reporter

00:04:58.780 who's now leading the polls he'll probably lose because there'll be a coalition that opposes him

00:05:04.300 this is really a test for the american people

00:05:06.620 are you going to be decent people who do the right thing

00:05:11.480 look i didn't agree with very much that george w bush did particularly the iraq war

00:05:17.200 and the enormous tax cuts for the wealthy but i like george bush personally as and i respected him

00:05:23.140 i respected john mccain enormously because of his service to the country

00:05:27.140 trump doesn't respect anybody precisely because he doesn't respect himself

00:05:32.080 and that is what he's selling to the american people he's selling anger he's selling fury but

00:05:37.760 he's not selling respect and he's not selling decency and this is a decision for the american people to make

00:05:43.240 i always say the voters are the boss and the boss may be wrong the boss may be

00:05:47.180 right but the boss is always the boss well we're going to find out what the boss really wants and

00:05:52.200 it is their choice and this is where i think biden is absolutely right their choice what kind of a

00:05:57.360 country we want to have but we will not get what we have back if we lose it this time major problem

00:06:03.960 and i mean that's the book the authoritarian book that the uh that trump is playing out of is

00:06:08.700 threaten people and uh threaten them with bodily harm threaten their families if uh if you don't get

00:06:15.000 your way it's the classic authoritarian ruler this guy first of all i grew up in new york trump cheated

00:06:21.240 and lied his way to whatever he has and he's about to get most of it taken away because he's probably

00:06:25.240 going to lose his new york business license in court uh in the next few weeks um this is a bad guy he

00:06:31.880 never should have gotten as far as he did he's really sort of an insufficient personality and a clown

00:06:36.380 but the fact of the matter is he's conning a lot of americans and the first people who are going

00:06:41.180 to suffer if he wins re-election are the people who are voting for him now and sending them their

00:06:45.800 hard-earned dollars he will turn on them because he doesn't give a damn about the only person donald

00:06:50.780 trump cares about is himself overthrowing our government and it has lead elements including

00:06:55.480 trump including folks like uh like like the former national security advisor mike flynn and the lead

00:07:00.920 soldier in this in congress is tommy tuberbill who is ridiculous radical reckless and racist and i've

00:07:06.940 called him senator redneck because that's what he is you want someone to lead this ridiculous

00:07:11.100 racist uh thing that undermines our national security tuberville's like me i'll be your guy

00:07:15.720 and he is now doing that he's got 10 minions who followed him to vote against cq brown and every

00:07:20.480 day it's something new that undermines our national security it hurts our troops it hurts our morale our

00:07:25.240 enemies are celebrating but vladimir putin loves this but there's also the political side of this

00:07:29.280 this is driving the gop further and further away from america and especially from independents like me

00:07:34.080 i've called this the confederate wing of the gop they don't want to preserve the military of 2023 they want

00:07:38.620 to create the confederate army they want to take us back to the 1800s they don't understand this

00:07:44.360 modern world and they're fighting it and we've got to fight back

00:07:47.160 friday 29 september in the year of our lord 1860 no i'm just kidding 2023 we're here you're in the war

00:07:56.500 room and a lot has happened overnight a lot more is going to happen today uh we've got ben burquam

00:08:02.680 i think ben's down in mccallan texas about to give a big speech uh address down there i'm gonna go to

00:08:07.620 burquam we've got a lot of stuff on the economy interest rates capital markets that you need to

00:08:12.000 hear first um obviously huge developments overnight uh let me know when ben's up and i'll go right to

00:08:18.280 ben as soon as you get ben up um kevin mccarthy's about to give a presser last night just to do a

00:08:24.240 reset so folks understand where we are we passed three single subject bills last night we passed

00:08:31.540 defense homeland security in the foreign state department of foreign operations we don't love

00:08:36.660 these bills but this is uh you know biggs and crane and gates and these guys stepped up and said hey

00:08:41.680 we can show we can govern it was just like we accepted the the one-year deal which we didn't

00:08:46.860 love back on the debt ceiling uh the the quote-unquote radical right was were the people that got over

00:08:53.880 the top these bills to show that hey we got 50 of the of the government funded right now on some of

00:08:59.880 the big power agencies and to send it to the senate in addition this was huge and a hat tip to mtg

00:09:07.440 she forced to strip out the ukraine 300 million that was in the defense bill now people are sitting

00:09:13.960 there saying oh it passed 300 no no the key number and if we can get gates's uh we had gates's tweet up

00:09:19.920 i think it was 117 to 100 or 117 to 101 the majority of the conference voted against this ladies and

00:09:27.740 gentlemen and that is because of you i was talking to people late last night they said 100 percent the

00:09:31.560 war and posse calling people's offices and and going to the kiwanis clubs and going to the lions

00:09:37.940 clubs and going and when the guys come to speak the men and women come to speak sit there and go

00:09:41.800 no more money for ukraine i think is it uh is it uh trey nels the congressman down in the houston

00:09:48.520 area former law enforcement who had been i think a pretty big ukraine supporter tweeted out last night

00:09:53.800 when he voted a no he gave it a no vote he said enough is enough day brad thank you you're gonna

00:09:58.400 be my wingman for the first hour we got a lot to go through and thank you so much thanks for coming

00:10:02.520 in let's go to burquam i've only got burquam for a few minutes ben burquam ben you're down is it

00:10:06.780 mccallan texas you're in today yes sir yep uh we're down here with 160 sheriffs representatives from all

00:10:15.180 over the country i've got uh sheriff mike lewis from wicomico wicomico county maryland talking about

00:10:21.960 what's happening i'll be speaking in about 30 minutes uh from the media side the the real news

00:10:26.100 media uh while you know the fake news media is pushing all the propaganda the reality of what's

00:10:30.700 actually happening down here to attack the sheriff tells every town's a border town this invasion of

00:10:37.940 the united states how can it be stopped that's what the people in the country want to know how do we stop

00:10:41.960 it well we all know what we need to stop it and that is for this administration to change their

00:10:49.420 current path and trajectory on this country uh what crosses this border today clearly is in my

00:10:55.420 county tomorrow uh we have seen an unprecedented number of overdoses due to fentanyl we've seen an

00:11:01.600 unprecedented number of criminal arrests involving illegal aliens just this past weekend uh in my county

00:11:08.440 uh we arrested a number of illegal aliens for criminal offenses not for being illegal in the

00:11:13.780 country because there's absolutely nothing we can do about that any longer but they were committing

00:11:17.960 all kinds of criminal violations including one who was traveling southbound and the northbound lanes

00:11:23.660 of u.s route 13 in wicomico county nearly striking a marked wicomico county sheriff's deputy head on at

00:11:30.600 2 a.m in the morning we finally got him stopped and he was over three times the legal limit to be

00:11:35.980 operating a motor vehicle um as as you well know most of the illegals are unlicensed they're uninsured

00:11:42.260 they are wreaking havoc in across this country but that's just one part of it it's the enormous

00:11:49.780 amounts of fentanyl that are now being seized across our country and in my community that are

00:11:54.900 contributing to a large amount of overdose deaths last year over 110 000 people alone died in our country

00:12:01.780 due to fentanyl and opioid overdoses an unprecedented number like we've never seen and we are down here

00:12:08.140 to learn and to assist our texas brothers and sisters in combating what we see as a man-made crisis

00:12:15.860 that started shortly after the swearing in of joe biden in washington dc and uh politics aside man

00:12:23.480 these people are suffering down here they are absolutely suffering down here and we're learning

00:12:28.580 just what they're facing every single day and how difficult it is to work when we have an unsecure

00:12:34.840 border and without a secure border we will never have homeland security until we have border security

00:12:39.720 and that's more evident today than ever before

00:12:42.280 sheriff how do people uh we've got to go to capitol hill right now how do people

00:12:48.280 follow you you have a facebook social media they can follow your struggles i do i'm on face

00:12:53.880 yes i'm on facebook on social media um sheriff mike lewis wicomico county mike lewis on facebook

00:13:01.400 uh they can find me any way they need to find me and i'm here to tell you right now what crosses

00:13:07.800 this border today is in wicomico county maryland tomorrow and uh we cannot emphasize that enough

00:13:13.400 they travel all night long to get their illegal aliens and drugs into our communities and as you

00:13:19.320 well know crossing this border is not just the drugs not just the fact they're illegals but we have

00:13:23.320 convicted murderers freely traveling back and forth now because we have an open border it is wide open

00:13:29.160 and steve i'll be getting more from the guys here and bringing it to you throughout the day

00:13:35.400 you you you tell the folks down there worms got their back we want to flood the zone today with

00:13:39.320 great content from down there we love these men and women they're the front line to save our nation

00:13:44.120 and uh ben come back to us right after your speech sheriff lewis honored to have you on here

00:13:50.120 thank you steve thank you so much sir thanks steve

00:13:53.080 this is the reality the reality is an invasion of the southern border along with you know we

00:14:00.200 we finally put the stop i think the kibosh unfundling this ridiculous amount of money they

00:14:05.640 want 80 billion dollars this year into ukraine so this fight is going to be quite intense kevin

00:14:10.840 mccarthy has just come to the sticks what we're going to do is take a short commercial break

00:14:14.920 get organized here we'll come back we'll have kevin carth kevin mccarthy i think he's going to lay

00:14:18.920 out today how he's going to roll out of cr but good news folks we did not get rolled last night

00:14:23.960 actually had tip to matt gates had tip to all the uh the magnificent six the 20 you came together you

00:14:29.640 got these big bills passed we don't totally love them but they're not too shabby a lot of woke out of

00:14:35.960 there some significant cuts not perfect but we live in an imperfect world but now it's hey it's not

00:14:42.840 maga that's slowing this thing down the cr is going to be up next also a hat tip to mtg she

00:14:49.560 stripped out the ukraine funding and made everybody come to the table the majority the majority last

00:14:55.480 night voted no no more ukraine funny back in a moment do you get the feeling that the unthinkable

00:15:02.040 is going to happen soon well i do but between the distractions and smoke screens in the media

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00:16:22.040 take action action action appropriation bills i told you don't give up on us because we're not giving up on

00:16:30.600 the american people we passed three appropriation bills defense state and foreign ops and homeland

00:16:36.680 security my biggest question is i don't understand why the democrats voted against funding the government

00:16:45.080 in all we have four appropriation bills done there's 12 overall to get done

00:16:51.400 it's the discretionary spending every year the government is supposed to do we have now in the

00:16:57.000 house passed more than 70 percent of the discretionary spending on appropriations need i remind you how

00:17:05.080 much has the senate passed zero not one appropriation bill has passed the senate

00:17:15.400 we've done what many have said was impossible when i became speaker i said we're going to change washington

00:17:21.160 and we did that by keeping our commitment to restoring regular order bills that passed committee in

00:17:28.360 june and july have been open for amendments for months struggled with a number of members who

00:17:34.440 wouldn't allow it to become up but i never gave up 440 amendments were considered on the floor this week

00:17:43.000 and for those who are historians we are the first republican majority to pass the state and foreign

00:17:48.520 office bill through regular order since 2006. my entire political career as a member of congress

00:17:56.120 the republicans have never been able to do what they just did last night as we continue to get

00:18:01.080 conservative wins and return to regular order we actually need a stop gap measure to allow the house

00:18:07.720 to continue to finish its work to make sure our military gets paid to make sure our border agents get

00:18:13.560 paid as we finish the job that we're supposed to do another reason for the stop gap is to address

00:18:20.600 president biden's historic failure on the southern border this is how bad things have gotten under

00:18:28.440 president biden's watch in five days there's been more than 50 000 illegal border crossings

00:18:36.840 put that in perspective in just five days that's more than twice as much as the average for the entire

00:18:44.280 month in the last administration a wide open policy hurts america we've heard it from democrat leaders

00:18:55.880 across the country but despite the chaos the president still won't go to the border setting new records

00:19:03.640 every day fentanyl at an all-time high killing americans and he refuses to go to the border he's been

00:19:12.120 one time in 50 years one time in 50 years he's had more dinners with hunter biden business partners

00:19:22.920 than he has going to the border think about that for one minute something he said he's never done he's

00:19:30.520 done more than he's ever been to the border in 50 years as an elected official

00:19:39.000 he was less than 200 miles from the border this week in arizona less than 200 miles

00:19:45.960 and he couldn't even stop by for an 87 second photo op

00:19:52.600 really makes you believe that president biden is deliberately letting this happen and trying to

00:19:59.480 continue to continue to ignore it if biden won't visit the border why won't he at least listen to

00:20:05.960 the democratic leaders that are elected across this nation mayors of new york city says biden's border

00:20:12.920 policy will literally destroy the city of new york governor of new york says illegal immigrants should

00:20:20.040 go somewhere else the governor of massachusetts declared a state of emergency mayor of el paso says

00:20:29.880 the city is at a breaking point mayor of eagle pass texas says president biden has abandoned them

00:20:38.440 okay let me have it for a second i can't take any more of the this is and i want to thank this audience

00:20:45.480 for being the stalwarts the reason this got done last night had nothing to do with kevin mccarthy

00:20:49.320 kevin mccarthy worked against this process now that we got wins he wants to say you know i fought my

00:20:54.360 career and i staked my speakership he was forced to do this in january he didn't do it the the subcommittee

00:21:02.360 bills have been done action committee bills have been done since july he didn't have any days in

00:21:09.400 july to focus on it and sent everybody home in august and he got back here and he gave you the shiny toy

00:21:14.040 the fiasco you saw yesterday the fiasco you saw yesterday was your shiny toy because you're too dumb

00:21:21.480 to focus on what is of the most important thing in american uh political or economic or individual life

00:21:28.280 right now you know maybe besides the spiritual warfare we're going through of these demons that

00:21:35.720 are trying to destroy our country one way they're trying to destroy it it's just to keep printing money

00:21:41.320 and keep leviathan fed kevin mccarthy did nothing on this so he can step there the mic

00:21:47.400 and just do your eye roll say kevin cut to the chase let's get to the cr we know what we did last night

00:21:52.680 joe biden to show you how interested he is joe biden comes out just when this is happening he says

00:21:57.480 hey i'm vetoing any any cr that has anything to do with border security right i'm gonna give me a

00:22:03.880 clean cr in other words you keep the scam and the con going unlimited so then they can roll it all up

00:22:09.960 and vote on a uh on one pound another omnibus just like last year and do it right before the christmas

00:22:15.240 holidays fortunately we have patriots like yourself that are standing in the breach and they understand

00:22:26.200 we're unmovable we're unmovable we got those three bills through last night gates and the team

00:22:31.800 got the three bills through because we wanted to put it in their grill hey we passed these out this 50

00:22:37.480 of the spending they're not perfect a bunch of our memos got shut down shot down a bunch of stuff in

00:22:43.160 committee got shot shot down you know micro these defend these these insane defense hawks that are just

00:22:50.600 over the top with weapons and munitions and not thinking about 21st century warfare

00:22:55.880 and not thinking about victory more of the vietnam iraq afghanistan not particularly bright

00:23:02.360 generals working with defense contractors to keep us in endless wars with the uniparty

00:23:08.280 to keep us in endless wars and the lobbyists

00:23:13.240 but it was good enough good enough for this process right now good enough to get it over and put in

00:23:17.400 their face hey we we funded 50 of the government what's your beef the only one that didn't pass

00:23:23.960 was ag and ag didn't pass because the moderates not to consider they all all the conservatives

00:23:29.160 all the mega guys piled in here is mainly the moderates and there is some big issues with the

00:23:33.480 ag bill and the fda there's no doubt about that i would personally never pass the defense

00:23:39.080 belt would have been a hard no but i can understand of how to move this forward and now get down to the

00:23:43.800 the main or at least the the the sidebar event which all got their hair on fire is the uh is

00:23:50.360 the quote oh my gosh the government's gonna shut down do we have bill hemmer and p buddha judge is

00:23:56.200 that ready yet you can i i want to show you what fox is doing this morning here's what fox is doing

00:24:01.000 this morning they're putting shutdown porn on with two of my favorite fellas bill hemmer and p buddha judge

00:24:08.920 this is what fox is doing this morning let's let's rupert murdoch's lachlan murdoch's fox news

00:24:14.440 this is how they're serving the republic this morning let's play it if we lose a week a week long

00:24:20.760 shutdown could set us back by a month if a shutdown lasts a month it could set us back by a year okay

00:24:25.720 so in terms of being able to hit those urgent staffing i just want to emphasize we're far from

00:24:29.480 that point yeah but again we're talking about training and no air traffic controllers are going to

00:24:32.920 leave the job their their pay would be docked uh but they would get back pay eventually um i here's

00:24:39.160 my point deadline well i want to mention one other thing which is there are a lot of employees who

00:24:43.320 might not get that back pay because they were author authorization lapsing too okay deadlines tend

00:24:48.920 to focus the mind would you agree yeah but the reason they focus uh the mind is that you rally to

00:24:57.960 actually hit that deadline we hope and expect that house republicans will do that but at this point we

00:25:04.120 have a responsibility to prepare for what happens if they fail to do that if kevin mccarthy cannot

00:25:09.720 deliver on the deal that he made with president biden earlier this year and we're inside of 48 hours on

00:25:16.280 his ability to keep that promise then we got a real problem across the country disruptions uh that

00:25:22.120 will again mount each day that uh that lapse continues and just set us back in important work that we're

00:25:27.560 we're doing right now i mean i know that sometimes federal workers get portrayed as sort of uh

00:25:32.840 pushing paper and the work they do it doesn't matter some of the people are going to get pulled off

00:25:36.280 the job in my building are the people developing uh the process to make sure that you could get

00:25:40.760 compensated if an airline is responsible for you being delayed for hours and hours and it's their

00:25:46.360 fault this is stuff that matters to people it's why we have these policies and uh and these uh

00:25:51.000 departments in the first place in place and shutting them down not to mention letting service

00:25:55.240 members go without pay it's just unacceptable i know democrats put the focus on house uh so all

00:25:59.720 all day long on on the carl rove the carl roves running the train he the trains left the station

00:26:05.160 on fox all day long you're gonna get shutdown porn shutdown porn non-stop no pushback you're just

00:26:11.800 gonna get it all day long has fox uh by the way with cuddle and all their guys steve moore they're all

00:26:17.400 on there all the time the guys want the big tax cuts when we're sitting on 33 trillion dollars of

00:26:22.360 debt we're gonna do some math here for a second where i gotta get a whole lot worse and nobody's

00:26:25.960 talking about it is anybody up there having the adult conversation of what is the purpose of this

00:26:32.040 what is the purpose of this they all knew that this with that midnight on the 30th is going to

00:26:36.600 strike why are we here we're here because they are irresponsible we're here because they like driving

00:26:44.680 crises because this is how they jam up the american people they obfuscate they spin you

00:26:50.360 they like this this is how they rule this is how they govern we said a couple of days ago it's going

00:26:57.080 to be very um enlightening illuminating in your awakening and the awakening of the american people

00:27:05.000 see exactly who governs you is it the people that you work so hard to send to washington

00:27:11.160 or is it the uh corporatist lobbyist globalist oligarchist powers that be elite in this country

00:27:22.040 that do it for themselves is don't have ej up yet a date let me get dave brett in here for dave first

00:27:28.280 off can you please because you know the way that the games are played in this town and you particularly

00:27:32.920 know mccarthy this this shows you these policies i mean he can sit up there on something he has

00:27:39.480 fought and fought and fought and now try to take credit yeah for the positive things that are

00:27:44.280 happening yeah no well it the the whole language right the wall street journal a couple days ago

00:27:50.680 had a great piece on the new moral order is crumbling the new moral order has been a 30 40 year

00:27:57.800 major project which features lying as its chief feature the the repudiation of truth

00:28:03.560 and the control of narrative right carl marx and his ideology and the new neo-marxist thing

00:28:08.760 it's basically control of moral language taking out the the morality and the utter foundations of the

00:28:14.840 judeo-christian west and you had some stuff in the cold open about people talking about decency

00:28:20.200 where do you think you get the term decency uh the greeks didn't have decency the roman empire you

00:28:25.480 think the roman empire at zero when jesus came on the scene and pronounced love for his brothers

00:28:30.200 and sisters you think they had decency no and so that's what it's an attack a moral attack on all

00:28:36.680 those features and so when mccarthy's up there talking uh one of the key threats to this uh republic

00:28:44.280 right now is this threat of democracy right the everybody's claiming both sides are claiming the

00:28:49.560 other side's fascist uh there's one way not to have a fascist regime that's to have a smaller

00:28:54.200 federal government uh but more importantly you just saw the glimmers the first glimmers of a true

00:29:00.120 democracy in action last night for the first time in 30 years i've never seen it a functioning democracy

00:29:07.720 where you inform the people about what's in the bills for seven trillion dollars in spending

00:29:13.320 if you want to talk to me about democracy uh folks on the left that's democracy in a republican

00:29:20.520 form of government uh and if you've got a better example i'd like to hear it and then everybody on

00:29:25.080 the left in the media talk about uh bearing false witness to be polite uh they're all saying okay so

00:29:33.320 the house did its thing but now the senate's going to uh reject it and uh the white house has already uh

00:29:39.000 rejected it too and they're going to veto it uh well that is not very democratic i'd like to see a

00:29:44.600 debate the senate hasn't done regular order and the white house really is not in charge of the budget the

00:29:49.480 budget is given to the house in the constitution where the body uh nearest the people and the house

00:29:55.480 has a a unique role in crafting that budget and unfortunately in the past we haven't done our

00:30:01.320 duty there uh but now we are we're finally doing our duty breaking it down we got to the most important

00:30:07.480 bills right in this sense of decency that wall street uh journal piece actually listed the three

00:30:13.320 pieces that partially uh were solved last night uh the the border you just heard the sheriff killings

00:30:19.720 murders are taking place in record numbers on the border is that decency or would it be more decent to

00:30:27.400 shut down the border and have the rule of law which gives you ordered democracy and freedom instead of

00:30:33.640 total chaos and then the same uh when it comes to the 50 trillion in debt is it moral is it decent uh to

00:30:41.320 just continue with 50 trillion in debt at a five percent interest rate uh we we've got evidence

00:30:47.080 that uh just just assuming a five percent interest rate right now uh kicks into about one and a half

00:30:53.720 trillion uh in in interest payments alone in 10 years when you have a full 50 trillion dollars in debt at

00:31:00.360 five percent it's two and a half trillion dollars in interest payments and everybody knows that we're

00:31:05.400 already in default we're gonna have to solve it one way or the other and then i could go on and on

00:31:09.720 on the moral indictment of this country uh including our chief trading partner being a totalitarian

00:31:15.880 surveillance state uh that we don't question is that of which we have a guy that sits in the oval

00:31:23.080 office that has been on their payroll taking bribes from them and done corrective action to not to

00:31:29.320 confront them um it shows you the rot of the system the system is rotted rotted uh stem to stern and and

00:31:36.360 you're in the process of purging that rot and they hate it uh we now have notification i believe that

00:31:43.080 they're going to uh they're going to um bring up the um cr at 11 30 house will meet at 11 30 to begin

00:31:51.320 debate on a gop-led uh continuing resolution still unclear whether they have enough votes for it to pass

00:31:57.160 the house today we probably will go and try to get as much of that live a coverage we'll pick it up from

00:32:02.200 the the floor that will be pretty intense as we've been covering uh non-stop uh this do we have do we

00:32:08.840 have um ej and tony uh ej and tony a couple things number one the daily caller i just want to make

00:32:14.600 sure the day daily calls been doing a terrific job of um covering the economy and they've got a great

00:32:20.600 story of you know unbeknownst a lot of people the the biden regime came out yesterday the feds

00:32:26.200 somebody came out and actually did the official downgrade of gdp gdp looks around two percent two

00:32:31.960 point one percent which remember remember when you're in the one to two percent you're not in

00:32:37.800 a mathematical or a technical uh recession but you're in a recession for the folks the working

00:32:43.640 class and middle class folks okay because there's a whole bunch of stuff that goes in that number that

00:32:48.040 can kind of jack it up where they have a reset later but this means a those types of numbers

00:32:54.440 mean lost decade our economy can't we can't thrive at first of all we can't pay our bills at two percent

00:33:01.080 growth and they're sitting there talking about a two trillion dollar uh deficit it's outrageous ej

00:33:06.760 once you once you update us on uh any updates on the economy capital markets i want to get into this

00:33:12.760 calculation that the three of us have kind of done on the back of envelope with help from some hedge

00:33:16.920 fund guys about what the real interest expense going to be ej uh any any opening thoughts

00:33:23.480 certainly steve i mean in terms of of the overall economy what we've essentially seen is that

00:33:28.440 it turns out that the economy was growing faster than previously estimated when trump left office

00:33:34.760 and since biden took over the economy has been uh now revised lower and it's not a matter of simply

00:33:41.320 rearranging deck chairs like some uh some quarters were revised lower under biden others were revised up

00:33:47.320 no overall we still see about a half a percentage point uh downward revision now that that's pretty

00:33:52.920 significant it may not sound like much but half of a percent is well over a billion dollars that the

00:33:58.520 bea essentially just snapped its fingers and and poof it's gone at the same time uh inflation under

00:34:04.600 biden was revised higher and so you know the common man i think knew this already uh but the statisticians

00:34:11.160 of course are are standing there in shock saying oh my goodness i can't believe inflation was even worse

00:34:16.280 than we previously estimated all last year but of course it was uh so this brings a lot of the uh

00:34:23.000 quote unquote official data more in line with private survey data which i think is a good thing i

00:34:28.200 think we can rely on these numbers as being more accurate i just wish we had them uh quite a while ago

00:34:33.800 because they confirm what so many of us already knew in terms of looking forward then you're absolutely

00:34:40.120 right that we're looking at well over a trillion dollars in interest expense on the debt it's looking more

00:34:45.960 and more like it's going to be 1.5 trillion dollars in annual interest and the reason for that is

00:34:51.560 because the treasury continues sucking all the oxygen out of the room they are borrowing so much money

00:34:58.280 that savers simply can't keep up and so how do you attract more savers into the loanable funds market you

00:35:04.680 need to offer a higher interest rate and that's what the treasury is having to do but at the same time

00:35:09.640 you have a lot of private interests that are also looking to borrow and so they are forced to offer

00:35:14.840 higher yields as well and compete with the treasury what what this is essentially doing is driving up

00:35:21.080 interest rates even further and now i think the fed is going to be stuck playing catch up

00:35:25.480 trying to raise its own interest rates rates further and sell continue to sell off the balance sheet

00:35:31.240 all of that points to a contracting economy in the very near future so i wish i had better news steve

00:35:37.240 but things are not looking good because we cannot get no no no but this is why under control

00:35:41.960 this is what they're not talking about i so i wanted to calculate if we put that chart up which

00:35:47.560 has got the one-year treasury at five and a half what is i didn't look this morning what is the 10-year

00:35:52.360 treasury right now can you look for that and and just give me the quote on or ej ej what's the 10-year

00:35:56.920 treasury because here's with this so put the chart up and and you two are the economists walk me through

00:36:04.200 here but just back of the envelope because i know there's hedge fund guys looking at this right now

00:36:07.560 because of the intensity of the debate in washington and the fact that uh the fact that they won't

00:36:15.400 address what the problem is the problem is not a quote-unquote what i call a de-financing of the

00:36:22.360 apparatus 4.5 okay 10 10 years of 4.5 uh the the one years at the five um

00:36:30.120 we'll talk about inverted yield curves later as as as uh as uh omens about recessions but ej help me

00:36:41.800 out if you look at the range on this inverted year if you look at the range from the three-month

00:36:49.160 treasury and folks what reason we're doing this all this debt has to be rolled over the short term

00:36:53.480 gets rolled over every 90 days uh they've got you know they've got all types of durations on these

00:36:58.600 things if you just do the average at 33 trillion and remember what this debate is about right now

00:37:06.360 the this debt train's not going to stop it's going to continue we will actually argue that if you don't

00:37:15.160 lance the boil now you are structurally putting this in place that you can never you're on the abyss

00:37:22.280 on your point of no return you can't come back but correct me if i'm wrong brett if i just average

00:37:27.320 this out at five and a half percent for for for the for the short term to the 4.7 for the out years

00:37:33.480 the 30 year yep and do some basic averaging let's say it's five percent overall and i know this stuff

00:37:39.800 rolls so i'm not getting a perfect weighted average but ej and dave correct me if i'm wrong you're looking

00:37:45.960 at interest payments in this coming year of north of one and a half trillion dollars yeah right exactly

00:37:54.200 and my here here's the point here's the point just like in bankruptcy slowly at first and all once

00:38:01.240 we are heading into a financial calamity look at all these people all these ribbon clerks up here

00:38:07.800 that will not address it we're getting ready we're facing a calamity that they will not address

00:38:14.600 because of what they've done in the overspending that drove the inflation the first place remember

00:38:19.560 under trump you had no inflation right you had to kick the interest rates up this is what slowed

00:38:25.880 down the economy is they're trying to the fed the fed but you have something here that's even beyond the

00:38:30.120 fed the cost of the money itself and it's the law of large numbers you're so big right now

00:38:37.400 you got 33 trillion and adding to it two trillion two and a half trillion that the interest payments are

00:38:43.480 going to explode the the total amount day brett yeah and so we're in such a bad time you know the

00:38:49.640 markets wall street they've been expecting the fed to go easy again start printing money but the fed can't

00:38:56.120 precisely because they're doing the math that you just went through right so the other day we had one

00:39:00.920 and a half trillion deficit spending plus six hundred billion in interest expense now we're saying it's

00:39:07.160 1.5 plus 1.5 so you're already at three trillion without any emergencies and that's only through

00:39:13.640 11 months of the year right and so then the numbers are exploding the federal reserve knows that and

00:39:19.960 they cannot pay that they know the federal government cannot pay that pay that and they're in the middle

00:39:24.600 of a political business cycle and everybody knows i want to make sure everybody understands that these

00:39:28.600 are not firm and hard numbers we're doing this like in mergers and acquisitions you just say look

00:39:34.040 i want to put the things together quickly to see directionally if this thing makes sense right if

00:39:38.680 it doesn't make sense directionally we're not going to spend all this time doing uh doing uh

00:39:42.200 merger models we're just showing you directionally this is what's happening ej you brought up the other

00:39:47.640 day the refinancing uh when you have 33 trillion dollars and the feds got short terms and they got

00:39:54.200 long terms they got tens they got thirties they got fives they got 30 days they got uh the the the

00:39:59.400 the one years all of it that's in a constant process of the new york fed which is the trading

00:40:04.280 desk refinancing this and now at these interest rates with the 500 basis point increase this becomes

00:40:11.240 like the thing itself this is where you're going to make we are now becoming slaves to to capital

00:40:18.040 markets that that the the the ability like president trump's perfect example the tax cuts that president

00:40:23.560 trump gave right come come do or they expire in january i think february of 2025 the first 30 days of

00:40:31.640 his second term think about it you're going to have such a narrow uh such a narrow playing field

00:40:38.920 that all your decision making is going to be taken away yeah ej fire away but i'll just say my tea

00:40:44.520 party folks and conservatives uh fiscal hawks were always asking me hey when's it going to happen

00:40:50.520 when's that when's this bond default going to happen when are we when's it finally going to hit

00:40:54.760 it's hidden right now now is when the federal reserve's waking up and ej will explain uh even more

00:41:00.360 well you're defaulting every day yeah this is the printing of the money this is the purchasing power

00:41:04.680 the guys that know the tell that you know you're defaulting your it's a practical default are the bricks

00:41:10.840 they're not down there spending all the time trying to get a basket of currencies and and and and

00:41:15.000 god help them they got to use the chinese wand by the way small financial news evergrand

00:41:20.200 the largest property developer in china in mainland china as we've warned you about the

00:41:25.080 biggest refinancing they got to do the chairman has just been arrested uh for uh for uh for crimes and

00:41:31.960 and and fraud and uh this is what they do when they're about to step in and say oh my god we got

00:41:37.560 a problem let's go get rid of the top 30 guys and blame them who have been giving them kickbacks and

00:41:42.200 and taking money this is the way the ccp rolls ej are we on the precipice now of the dead bomb the dead

00:41:49.640 bomb that really now gets out of control because you don't have enough serious people up here in

00:41:53.640 capitol hill talking about the real central problem of the nation steve absolutely because if you look

00:42:00.760 at the volume of debt we have if you look at what what has happened with interest rates not only in

00:42:06.040 terms of where we are but where we came from in such a short period you are looking at a much worse

00:42:11.240 situation than we had from 2007 to 2009 there is a lot more debt and we have unfortunately a system

00:42:19.400 that is based on the easy refinancing of debt and that has simply gone away and what we're seeing

00:42:25.800 right now for example is that investors are waking up to this and realizing that these rates are going

00:42:31.400 to be higher for longer as we have been saying frankly for months but the street is finally waking

00:42:36.760 up to this reality and now you're seeing not just the short-term interest rates which we've been

00:42:41.560 watching very closely but you're also seeing the long-term interest rates go up at a very very quick

00:42:46.760 pace uh the the 30-year treasury for example if i remember correctly i think that bond right now is on

00:42:52.680 pace for its fastest increase in terms of yield for any quarter since 2009 and again we all remember

00:42:59.800 what happened back then with the the financial crisis so unfortunately i really think things are

00:43:05.960 not headed in a good direction right now it's going to get very ugly pretty hang on what

00:43:11.800 very ugly now let's go to we got mccarthy answering questions let's go to the sticks and hear what he's got

00:43:16.200 to say okay he knew the war room was coming in to listen so he thought he'd wrap it up uh i think

00:43:26.840 what we know as of right now i think what we know as of right now uh 11 30 they're going to start

00:43:32.120 debate on the cr joe biden has already said dead on arrival right he wants that they want to clean cr

00:43:39.000 what they wanted is for 45 days the senate wants to just continue the madness before i go to break

00:43:44.120 ej if you can hold with me i want to make sure people understand what happened last night and over

00:43:49.160 the last three or four nights because a lot of the audience has been up watching this on our stream

00:43:53.240 this has not happened in 30 years has it no no it i am so proud of the 10 or 20 and you cannot believe

00:44:00.920 the threats that come against you as a member right the footsteps the the moral the psychological

00:44:06.680 stuff they throw at you and so for those guys to stand in in in the breach for you right for the

00:44:12.200 american people uh to produce a budget and more it's more important than the budget right as steve's been

00:44:17.480 saying in the war room this is about the functioning of our administrative state and the people want it

00:44:22.600 back right we're sick of it we are at wars uh our border is a wide it's not an embarrassment it's an

00:44:30.280 assault that's leading to utter pain for little kids and women and families across the border it's a

00:44:38.520 moral issue of the first order magnitude and so i'm just proud of those guys we've never seen this

00:44:44.360 uh we've taken the first baby steps but they're not baby steps they're huge what you just heard is

00:44:49.560 an earthquake in dc uh and if we continue with leaders uh who will represent you uh in in the face

00:44:58.840 of of of what they have to put up with uh just my congratulations to the heroes who stood up the

00:45:04.360 beginning of limited government if you want limited government you're going to fight for you have to

00:45:08.120 take this thing part brick by brick okay we got ej and tony uh we're going to get a lot of updates

00:45:13.240 from capitol hill 11 30 we're going to start uh debating the cr the de-financing of leviathan

00:45:18.840 starts at one minute after midnight on saturday night stick with us back in a moment

00:45:24.840 for war room veterans you know we have been all over the supply chain issue with china and medications

00:45:32.920 and the uh active pharmaceutical ingredients china has a stranglehold on us where there's a way to break

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00:46:40.120 promo code bannon at jace j-a-s-e medical.com you know what the problem is because you've watched the

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00:46:53.720 jace case today action action action here's your host stephen k bannon

00:47:04.440 okay welcome back make sure you go to birchgold.com slash bannon right now uh you'll talk to the team

00:47:09.800 about all the tax-free opportunities they have but also get the uh end of the dollar empire the fourth

00:47:16.760 one is about the when we came off the convertibility of gold back over one weekend in august of 1971

00:47:24.360 but also read the debt trap that's the third in the installment you want to get as up to speed as

00:47:28.520 possible because it's going to be quite an ugly fight of the weekend kevin mccarthy said right a

00:47:32.680 minute ago he wants real this is what he wants real policy to look like on immigration attached to the

00:47:37.720 cr now remember this is all optics but finish the wall finish the wall come on dude paul ryan fought us

00:47:44.200 every freaking day finish the wall asylum reform how about asylum shutdown remain in mexico stop

00:47:50.760 cartels and fentanyl and um one of the top political uh reporters up there said all of this is a non-starter

00:47:58.600 in the united states senate think about it the senators and particularly the collaborationists that that

00:48:03.640 that work with these radical democrats are exacerbating the invasion of your country

00:48:08.520 day brett i know you got to bounce summary thoughts of where we stand we're going to be have

00:48:12.760 you on all throughout the weekend as we cover this uh they're making a big deal about the

00:48:17.560 de-financing at midnight what's the real what what is what where do we really stand what's the what's

00:48:21.960 the signal not the noise well the the real signal is you're going to see a 180 degree turn in terms

00:48:29.240 of the relationship between the house and the senate and the white house the senate mitch mcconnell said

00:48:34.200 i give kevin mccarthy wide latitude uh wide authority which means power i give him power because he knew

00:48:41.240 what mccarthy was going to do earlier on which was push a cr through all that language now is going

00:48:47.080 to change drastically right so if mitch mcconnell the head of the senate and all the political views

00:48:51.560 are just my own uh well ahead of the republicans in the senate head of the republicans in the senate so

00:48:56.280 if he gives all authority to uh mccarthy before what's changed and what's changed there's only one

00:49:02.200 thing that's changed and that you the american people have spoken and i congratulate the folks who stood

00:49:06.920 strong but all of you out there make such a huge difference i cannot tell you i i get such kind

00:49:13.160 emails every day from you it's just an honor for me to just have some share of being in this

00:49:19.400 conversation with you and so uh keep the country in your prayers pray for both parties uh but pray that

00:49:25.240 the american people's will is done because you guys make all the difference right we always say on

00:49:30.520 this show we'd rather have the first hundred people in the phone book uh run in this country than

00:49:34.200 all these elites up here in the globalists with their moneyed interests and uh go read that wall

00:49:38.600 street journal if you got it on the new moral order is collapsing you are the formal moral order and

00:49:44.600 you need to keep the judeo-christian tradition strong so that this country and this republic will

00:49:50.040 survive with a moral order that's a piece by jerry baker the old editor of the wall street journal

00:49:55.160 from england quite quite powerful um thank you for coming by today and and and your thoughts uh remember

00:50:00.760 dave brad said he hadn't seen this in 30 years it's quite messy and it's quite tough but that's

00:50:05.320 why the war room posse the cadre that's been built around this show is is at work here two zero two

00:50:11.240 two two five three one two one two zero two two four three one two one is the senate the house is two

00:50:17.960 zero two two two five three one two one grace will put up the 117 that voted against ukraine funding

00:50:24.200 remember it's the majority the majority that means if we play by the rules of the house the republican

00:50:29.160 conference that all ukraine funding is dead on arrival right they didn't they vote the majority

00:50:34.680 the majority of republicans voted against even the 300 million last night ej and tony is ej back up

00:50:40.200 rebooted ej uh any closing thoughts here on uh capital markets the economy this back of the envelope we

00:50:46.360 did we're projecting significantly north of one trillion dollars in interest payments next year alone

00:50:53.160 this will blow a hole in the american economy the crowding out the crowding out of government having

00:50:59.720 to refinance this massive debt on a rolling basis or to have a crowding out function of capital going

00:51:05.960 to entrepreneurs ej and tony your thoughts steve a hundred percent once again this is the treasury

00:51:12.360 sucking all the oxygen out of the room and we have to remember that for every dollar the government

00:51:17.640 spends it has to be taken from the private sector first it can be taken right now through either

00:51:22.680 inflation or explicit taxation or it can be taken from future spending through borrowing and what

00:51:29.000 we are seeing right now is just a massive transfer from the american people to the government it has to

00:51:34.680 stop steve it really does we need to make sure that this appropriations fight is successful and that

00:51:40.920 we actually stop leviathan here because otherwise it's going to swallow us all uh ej uh thank you very

00:51:48.520 much and thank you for all the great work you're doing over there at heritage and working with

00:51:51.320 steve moore on the team but just fantastic thank you so much thank you steve

00:51:57.640 okay uh they're going to put the rule up i think they're going to debate the rule at 11 30 we're

00:52:02.440 going to try to cover as much as that as possible uh we've also got uh they're going to i think vote on

00:52:08.440 the cr uh later in the afternoon we're going to check in with some people there's obviously

00:52:14.360 uh a tremendous amount of opposition to this uh but you're starting to hear people saying hey we got

00:52:20.520 the appropriations done last night we want to have time to keep doing this so the argument right

00:52:25.320 now is you if you do a cr do you give them a little more heroin or do you say hey we got to

00:52:29.960 be an adult here cut them off of heroin and that will give everybody's mind focus to get the

00:52:34.360 appropriations bills done in the next week or so of course they're saying the senate's going to reject

00:52:39.720 all this the senate doesn't care so you you got to make sure we're going to shift our focus a little

00:52:44.680 bit from the house over this weekend to the senate you've done a great job in the house including

00:52:50.760 you got to remember when this ukraine thing started the whole apparatus

00:52:54.760 was in back of this there was only a handful of people that said you know i think there's a better way

00:52:59.400 to go and i'm not so sure the eastern speaking russian border of ukraine is in the vital national

00:53:04.440 security of the united states particularly when there's an invasion on our southern border i mean

00:53:08.680 an invasion that is just you know up in your face and you saw we got ben burquam down in mccallown

00:53:14.360 texas he's addressing they have 160 sheriffs from throughout the country you heard sheriff mike lewis

00:53:19.720 from maryland and look at what he said the illegal aliens here he can't do anything about round them up

00:53:25.080 only the criminals he said the criminals are out of control including the fact they had won three times

00:53:29.800 the level of the uh of alcohol consumption the state american three x driving on the wrong

00:53:35.720 wrong side of the road almost had a head-on collision with a sheriff's deputy and he said

00:53:40.200 fentanyl is out of control this is all you can't sit there now say this is by happenstance this is

00:53:46.200 they want this to happen they want this to happen because the the evidence has been put out

00:53:51.640 about how awful this is and they refuse to stop it if you saw these debates over the last couple of

00:53:56.760 nights on some of these amendments and the democrats are just hard in there to the democrats

00:54:01.480 there's no problem in fact we're not spending enough they want uh they want even uh they want

00:54:06.920 even more money they want more more of the same madness okay so the second hour we're going to

00:54:12.280 probably shift to the cr we got people coming in and out we will juggle his head day bratz thank

00:54:17.080 you so much always honored to have you in here and thank you we love it every time you're in town stop

00:54:20.920 by otherwise we'll get you down at liberty as your vice provost yep fantastic job the great day bratz

00:54:27.400 okay short commercial break we'll be back in the warm in 90 seconds

00:54:30.360 for the games you want to play bring it on and now we'll fight to the end just watch and see

00:54:37.480 it's all started everything's begun and you are over because we're taking down the ccp

00:54:47.000 spread the word all through hong kong we will fight till they're all gone we rejoice when there's no

00:54:54.520 more let's take down the ccp folks let me tell you about salty it's a company that makes a soft gel

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Bannon's War Room - September 29, 2023

Episode 3064： The Rejection Of Democracy And Demolishing Of Your Finances

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