Bannon's War Room - Episode 4263： Performative Policy Vs. The Reality Of Where We Are At

00:00:01.000 This is the primal scream of a dying regime.

00:00:06.000 Pray for our enemies,

00:00:08.000 because we're going medieval on these people.

00:00:11.000 I got a free shot at all these networks lying about the people.

00:00:16.000 The people have had a belly full of it.

00:00:18.000 I know you don't like hearing that.

00:00:19.000 I know you try to do everything in the world to stop that,

00:00:21.000 but you're not going to stop it.

00:00:22.000 It's going to happen.

00:00:23.000 And where do people like that go to share the big lie?

00:00:26.000 Mega Media.

00:00:28.000 I wish in my soul,

00:00:30.000 I wish that any of these people had a conscience.

00:00:33.000 Ask yourself, what is my task and what is my purpose?

00:00:37.000 If that answer is to save my country,

00:00:40.000 this country will be saved.

00:00:43.000 War Room.

00:00:44.000 Here's your host, Stephen K. Bannon.

00:00:50.000 Wednesday, 12 February, Year of Our Lord 2025.

00:00:53.000 A no cold open this morning.

00:00:55.000 We had lots to go through,

00:00:56.000 but there's a subcommittee,

00:00:59.000 Doge subcommittee under Marjorie Taylor Greene,

00:01:01.000 that's going to begin in a moment.

00:01:03.000 Also, their votes today at 11 o'clock.

00:01:05.000 I'm looking to my Evercrack in-studio production team.

00:01:08.000 I think Tulsi is at 11.

00:01:11.000 You can get a chance for a last call.

00:01:13.000 2-0-2, 2-2-4, 3-1-2-1.

00:01:17.000 Today's game day for Tulsi Gabbard.

00:01:19.000 Also, we're going to break cloture today on Bobby Kennedy, Doge.

00:01:24.000 Let's go.

00:01:25.000 Bobby Kennedy, cloture voted one.

00:01:27.000 They'll probably vote around midnight tonight, maybe later.

00:01:29.000 Let's go to the Doge committee.

00:01:31.000 We're going to dip in here before we come back to the show.

00:01:33.000 This is not a Republican problem.

00:01:35.000 This is an American problem. 0.92

00:01:38.000 To make it clear for everyone,

00:01:40.000 not only are we $36 trillion in debt,

00:01:43.000 but the compounding interest on our debt is also growing out of control.

00:01:49.000 Even if we decided to defund the entire federal government,

00:01:54.000 we cannot escape our debt and the compounding interest owed on our debt,

00:01:59.000 which grows bigger and bigger every year.

00:02:02.000 In 2025, interest payments are projected to be $952 billion,

00:02:09.000 which is more than our entire military budget.

00:02:13.000 In 2026, it will be $1 trillion.

00:02:17.000 And by 2035, $1.8 trillion.

00:02:21.000 Over the next decade, total interest payments are projected to be $13.8 trillion.

00:02:29.000 These interest payments don't serve a single American.

00:02:33.000 They don't build a bridge, a road, provide disaster relief,

00:02:37.000 or fund a single part of the behemoth that is the federal government.

00:02:42.000 These interest payments pay our masters who own our debt,

00:02:46.000 and the American people are in debt slavery to everyone who owns our debt.

00:02:52.000 Our crippling national debt and massively growing interest on our debt will destroy us.

00:02:58.000 Not destroy one political party or the other.

00:03:01.000 It will destroy all of us together.

00:03:04.000 It drives inflation, making life unaffordable for Americans struggling to financially survive.

00:03:10.000 It is crippling small businesses struggling to be successful.

00:03:15.000 Our massively growing debt and interest are the chains and shackles

00:03:20.000 harnessed to every American and their children and every generation to come.

00:03:26.000 But first, let us be brutally honest about how this massive debt came to be in the first place.

00:03:32.000 It came from Congress and from elected presidential administrations.

00:03:38.000 And I believe enslaving our nation in debt is one of the biggest betrayals against the American people

00:03:46.000 by its own elected government.

00:03:48.000 The American people's anger over this betrayal is what gave birth to the concept of DOGE,

00:03:56.000 the Department of Government Efficiency.

00:03:59.000 In fact, DOGE became a major part of President Trump's campaign and led to his overwhelming victory in November.

00:04:07.000 Every day, Americans go to work. 0.85

00:04:10.000 They run businesses.

00:04:12.000 They have to earn their paycheck.

00:04:14.000 No one guarantees it.

00:04:16.000 And if they don't do a good job, they get fired.

00:04:19.000 They also have to pay their bills, credit card debts, balance their checkbooks,

00:04:24.000 and scrap and save every penny they can in order to plan for that rainy day and hopefully retirement one day.

00:04:32.000 Private businesses only survive on hard-earned income by serving their customers so well

00:04:39.000 that their customers pay them for the services and products they consume.

00:04:43.000 If that business fails, its employees lose their jobs and paychecks,

00:04:48.000 and the owners lose their business and everything they risked along with it.

00:04:54.000 Many go bankrupt in this process and lose everything.

00:04:58.000 No one bails them out.

00:05:00.000 They only survive by excellent customer service and smart financial management.

00:05:06.000 This is the real world that most Americans live, work, and survive in every day.

00:05:12.000 This is the pursuit of happiness, and this is how you pursue the American dream.

00:05:18.000 However, the federal government, government employees, and unelected bureaucrats

00:05:22.000 do not live by the same rules as the great American people and private businesses.

00:05:28.000 The federal government's income is the American people's hard-earned tax dollars,

00:05:34.000 their literal blood, sweat, and tears.

00:05:38.000 And taxes are collected by law at gunpoint.

00:05:42.000 Don't pay your taxes, and you go to jail.

00:05:45.000 The federal government does not have to provide excellent customer service to earn its income.

00:05:51.000 It takes your money, whether you like it or not.

00:05:55.000 And federal employees receive their paycheck no matter what.

00:05:59.000 Whether veterans receive their benefits or not, whether your mail shows up or not,

00:06:05.000 whether your tax dollars are used to help Americans in need or sent to foreign countries,

00:06:12.000 for foreign people, for foreign causes.

00:06:15.000 No matter how bad the federal government fails the American people, it still takes your money.

00:06:21.000 It still pays its own federal employees.

00:06:24.000 And it never, ever goes out of business.

00:06:28.000 There are no consequences for bad customer service, total failure, and for enslaving the American people 0.99

00:06:36.000 against their will in the ever-growing and future all-consuming national debt.

00:06:43.000 Congress has a dismal approval rating that ranges between 12 and 20 percent.

00:06:49.000 I don't blame the American people one bit for their sentiment and disgust.

00:06:54.000 The American people will be watching this committee and how we tackle one of the biggest problems of our time.

00:07:01.000 While we are a committee made up of the opposite far-reaching corners of Congress,

00:07:07.000 we were each elected to serve and represent the American people and how their hard-earned tax dollars are spent.

00:07:15.000 We as Republicans and Democrats can still hold tightly to our beliefs,

00:07:21.000 but we are going to have to let go of funding them in order to save our sinking ship.

00:07:28.000 This is not a time for political theater and partisan attacks.

00:07:32.000 The American people are watching.

00:07:35.000 The legislative branch can't sit on the sidelines.

00:07:39.000 In this subcommittee, we will fight the war on waste shoulder-to-shoulder with President Trump, Elon Musk, and the Doge team.

00:07:48.000 This week, we turn our attention to improper payments by the federal government, including in Medicaid and Medicare.

00:07:56.000 I'm looking forward to what we find out and how to solve this crisis.

00:08:01.000 I now yield to the ranking member, Ms. Stansbury, for her opening statement.

00:08:08.000 Let me take it.

00:08:10.000 Well, good morning, everyone.

00:08:11.000 Thank you, Madam Chair.

00:08:12.000 They've got a number of activists or people that follow this.

00:08:17.000 In D.C., you have these groups that are kind of good government groups that do a terrific job of following government corruption,

00:08:24.000 lack of accountability, et cetera.

00:08:26.000 She's got a number of heads of those organizations.

00:08:28.000 And if we see something that's fascinating, we will – which I'm sure most of it would be very interesting, but we see fascinating.

00:08:33.000 We have a higher bar to get in live in the world.

00:08:36.000 We will dip in there.

00:08:37.000 Marjorie Taylor Greene.

00:08:39.000 They are – so this committee is – and I think part of this is payment system.

00:08:44.000 It gets to – do I have the Moskovitz thing?

00:08:48.000 And then I'll bring Natalie in the next block.

00:08:50.000 Can we play Jared Moskovitz?

00:08:51.000 Let me know we got that.

00:08:53.000 There's an issue.

00:08:54.000 I want to go back to what the point is, is that we have on 14 March at midnight, we technically run out of ability to pay anything else.

00:09:04.000 We run out of money.

00:09:05.000 Not that we don't – we're already at the debt ceiling limit, so we can't borrow anymore.

00:09:10.000 What we're doing right now is Scott Besant is kind of juggling the books over there and making sure the cash comes in and pays down everything on – in a current basis interest so we're not in arrears on anything.

00:09:24.000 In fact, I didn't give you the Moskovitz thing.

00:09:26.000 We'll just get it off – if you get it.

00:09:28.000 Let's bring in Natalie Winters. 1.00

00:09:29.000 Natalie, why don't you tee up?

00:09:31.000 So there's a multi-pronged attack on President Trump.

00:09:34.000 MTG right there is giving some backup, particularly in the House, of exactly what Doge is finding.

00:09:40.000 And I'm going to play Moskovitz's thing in a little while.

00:09:43.000 He went down to the wall yesterday and kind of repeated war room, which is, hey, we got a 14 March.

00:09:48.000 The House refuses to address it because they're running around these reconciliation bills, which reconciliation bills are fine.

00:09:55.000 We're very supportive of the concept and particularly supportive of the two-bill process, which I think is what we're going to end up doing, which they should have started doing at the beginning.

00:10:04.000 But the compulsory is you have to fund the government, and that funding runs out at midnight on 14 March.

00:10:11.000 And don't think the Democrats are too dumb to understand that they are laying a trap to essentially force the shutdown of the government of President Trump's government.

00:10:22.000 Let's play – I want to play Moskovitz from yesterday, and then I'll comment. 0.96

00:10:26.000 Natalie is going to join us because the other attack is in the federal courts.

00:10:29.000 The other attack is in the state courts.

00:10:31.000 They're trying to slow down days of thunder, and now you've got many people coming in and kind of piling to the back to make sure they have President Trump's back.

00:10:41.000 Let's go ahead and play.

00:10:42.000 This is a Democrat from Florida.

00:10:44.000 Let's go ahead and play it.

00:10:45.000 Thank you, Mr. Speaker.

00:10:47.000 Mr. Speaker, I rise today because I am deeply concerned that we are headed towards a government shutdown, which is on March 14th.

00:10:56.000 And it's not about whether Democrats or Republicans would win politically, because we know the American people will lose.

00:11:03.000 But let me tell you why I'm deeply concerned that we are headed to a government shutdown on March 14th.

00:11:09.000 I'm worried because the Speaker has not brought the 12 individual spending bills the way we should fund the government.

00:11:18.000 In fact, the promise that was made by my Republican colleagues on how we would fund the government.

00:11:24.000 Republicans have made the argument that the last election was about the status quo disappearing.

00:11:31.000 It can't exist.

00:11:32.000 People are fed up.

00:11:34.000 They created Doge, right?

00:11:36.000 Doge, which is going through the federal government and finding fraud, waste and abuse.

00:11:43.000 So they say, so they claim.

00:11:45.000 But if that's true, Mr. Speaker, if Elon Musk and Doge has found all this fraud and waste and abuse, hundreds of billions of dollars, as they claim.

00:11:55.000 Well, then, Mr. Speaker, we can't fund the government by CR anymore because the CR would refund all of that waste, fraud and abuse.

00:12:03.000 That Doge has found, which means the only way to fund the government is to fund it by individual spending bills.

00:12:10.000 But we're running out of time, Mr. Speaker.

00:12:12.000 We have a month before the government shuts down.

00:12:15.000 We've got to get back to the process of individual spending bills.

00:12:18.000 If we don't, if we don't, then the Speaker will be the one who will have closed the government for the American people.

00:12:26.000 And so I'm concerned.

00:12:28.000 I'm here to work with the Speaker on the 12 individual spending bills.

00:12:32.000 Democrats are at the table to do that.

00:12:35.000 But we have to be honest.

00:12:37.000 We can't tell the American people we're for reducing fraud, waste and abuse.

00:12:42.000 We're for government efficiency.

00:12:44.000 Look at all these things we have found and then say, but we're going to refund them all with a clean CR.

00:12:52.000 And so, Mr. Speaker, I rise to say I'm here.

00:12:55.000 I'm willing to stay weekends.

00:12:57.000 I'm willing to work for the next month so that we can fund the government appropriately by the 12 individual spending bills, a promise that my Republican colleagues made.

00:13:07.000 But the Speaker's got to start getting that train moving.

00:13:11.000 Otherwise, he will close the government.

00:13:15.000 Have you heard that before? 0.98

00:13:18.000 These people are not dumb people. 0.97

00:13:19.000 That's the logic of it. 0.93

00:13:20.000 And this is why I've said now for months since Doge first came up, you've got to merge in the Doge process into the appropriations process.

00:13:28.000 Did we not fight for individual appropriations bills?

00:13:31.000 Because this is where you're actually going to address not just the waste, fraud and abuse, but even deeper programmatically why we're doing this.

00:13:39.000 This is why in the middle of the night, MTG, Lauren Boebert, Eli Crane, Matt Gates, Andy Biggs, familiar names, heard those names before?

00:13:48.000 Went through particularly on USAID.

00:13:52.000 There's nothing that's come up in USAID except maybe the Internet, the Internet news connections or some others that people haven't argued about for years.

00:14:00.000 It was establishment Republicans at the committee level, at the committee level.

00:14:04.000 You couldn't even get it out.

00:14:06.000 The budget's now just come out.

00:14:10.000 Take a bow, Warren Posse.

00:14:13.000 Things had a little bit to do with the bayonets being out, like stop the nonsense.

00:14:18.000 Just put your cards on the table.

00:14:20.000 Let's have the discussion now.

00:14:22.000 Debt ceiling increase of $4 trillion is what the House Freedom Caucus recommended a week or so ago.

00:14:28.000 Two weeks ago, I told you.

00:14:30.000 That would be, we've got to face some hard truths, folks.

00:14:34.000 That means $2 trillion this year.

00:14:37.000 That means $2 trillion next year.

00:14:40.000 That gets you to four.

00:14:42.000 So, and they got all, they've also announced four and a half trillion cuts or five trillion cuts or something.

00:14:49.000 I guarantee you, I haven't looked at the details, guarantee you a dollar to a donut, as my beloved late mother would say, that it's all in the out years.

00:14:58.000 And it's not now.

00:14:59.000 It's not.

00:15:00.000 Have you seen the news from economists forecasting a depression?

00:15:03.000 I'm not talking recession.

00:15:05.000 I mean depression by the year 2030.

00:15:09.000 We're in a perfect storm as Social Security and Medicare hit a breaking point with the largest generation hitting retirement. 0.62

00:15:16.000 A smaller workforce means a smaller tax base.

00:15:20.000 Pair that with our growing national debt and rising cost of living, and you got a problem, and I mean a big problem.

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00:16:39.000 Here's your host, Stephen K.

00:16:42.000 Band.

00:16:43.000 Okay, so we're going to explain to you, so the Warren Posse, the force multipliers, the cadres, fully understand it.

00:16:53.000 Because in the land of the blind, the one-eyed man is king. 0.98

00:16:56.000 As we've said for months, it's all coming together because we're forcing their hand.

00:17:02.000 They've got a budget they put out.

00:17:05.000 It's got, you know, trains.

00:17:08.000 Let me say this.

00:17:09.000 It's all performative.

00:17:11.000 You don't get to $36 trillion, and you don't know where the money was spent.

00:17:16.000 I'm not talking on an operating basis.

00:17:18.000 That's different.

00:17:19.000 That's what Doge is going on.

00:17:20.000 I'm talking on the balance sheet.

00:17:21.000 I keep saying, show me, I see where, I know the sources of proceeds, that's taxes and borrowing money, creating fiat money.

00:17:31.000 And I see we've got $36 as the face amount on the national debt.

00:17:35.000 That does not include the contingent liabilities against the dollar.

00:17:39.000 That's a whole other discussion.

00:17:40.000 And that gets over the net present value.

00:17:42.000 That's over $100 trillion.

00:17:43.000 So hold it.

00:17:44.000 Put down your morning coffee.

00:17:45.000 I mean, have another cup of coffee.

00:17:46.000 I'm not going to get into that today.

00:17:48.000 Let's just deal with the easier of the financial mess that we're in.

00:17:53.000 But some point in time, you have to have the political will to just say, we can only afford this going forward at these spending levels if we increase three ways to do it.

00:18:09.000 You increase the denominator.

00:18:10.000 You increase growth, right?

00:18:12.000 And President Trump in 19, I think, got up to three, three and a half percent growth.

00:18:17.000 Right now, CBO projects 1.8 percent growth.

00:18:20.000 I think in these budget numbers, if memory serves me correctly, what the Republicans are going to present today is 2.5 percent growth.

00:18:27.000 I don't see it get to 2.5.

00:18:29.000 I know Scott Besson's plan with the supply side cut is to get to 3 percent.

00:18:32.000 I love all that.

00:18:33.000 And this is not arguing about angels on the head of a pin.

00:18:37.000 This is kind of the predicate that sets all the math that comes forward.

00:18:41.000 These are the basic core assumptions that one has to be kind of correct about or at least directionally correct.

00:18:46.000 Now, Elon yesterday, and I'll break that down later in the show, he was talking about 5 percent.

00:18:51.000 So Andreessen, these guys saying, if you just take off the regulatory apparatus, in other words, if you let the oligarchs be oligarchs, they're going to get to 5 percent.

00:18:58.000 Now, there won't be anybody working for him because I'll be artificial intelligence.

00:19:03.000 But I digress.

00:19:05.000 I don't think you're going to get to 5 percent.

00:19:07.000 And I think it's a fantasy to talk about that, particularly the situation we're in, because it can lead you to a lot of false conclusions.

00:19:14.000 And you have to be realistic about what you can cut.

00:19:17.000 And I'm all for cutting it down to the bone.

00:19:19.000 But as I've said, I think Glenn Greenwald backed me up last night on Jesse Waters.

00:19:25.000 Until you cross the Potomac and get into it with the defense apparatus over there, you're not going to have any will to cut anything else.

00:19:32.000 And let's be blunt.

00:19:34.000 At two years, at $4 trillion of debt increase, and I'm not saying I oppose that.

00:19:41.000 I think you have to face reality.

00:19:42.000 This is an unpleasant reality the creditors committee, which is you, have to face, is that it takes a while to turn the aircraft carrier around.

00:19:52.000 But $4 trillion two years is basically $2 trillion a year.

00:19:59.000 And that is – let's get back to it.

00:20:01.000 We're almost halfway through the fiscal year.

00:20:03.000 We will be, I think, by 14 March.

00:20:05.000 We're on a run rate – I think we're $850 billion already in deficit right now, which, by the way, up until at least January was a record pace.

00:20:14.000 That will lead to $2 trillion.

00:20:18.000 CBO says that.

00:20:19.000 CBO says $1.9.

00:20:21.000 The numbers they put out the other day on the 10-year forecast was $2 trillion.

00:20:25.000 They come in with this deal on the budget, accepted the House Freedom Caucus of $2 trillion.

00:20:30.000 So, hey, guess what?

00:20:31.000 There's no cuts.

00:20:33.000 There's no cuts.

00:20:35.000 If the cuts are on the margin.

00:20:37.000 Now, they're presenting this budget and they say, Steve, you're too hard on us because by statute we have to provide 10 years.

00:20:43.000 I go, guys, I understand that.

00:20:45.000 And you walk into companies that are turnarounds.

00:20:47.000 They got all kind of legal stuff they got to do.

00:20:48.000 But that's fine.

00:20:50.000 That's form.

00:20:51.000 That's performative.

00:20:52.000 That's not reality.

00:20:54.000 Reality is cash in, cash out.

00:20:57.000 Because where you cash in, cash out, gap, and that would be Mr. Deficit, it has to be financed somehow.

00:21:06.000 And right now it's financed essentially by printing money.

00:21:09.000 As you know yesterday from our discussion, the more money comes in the system, we're flooded now with dollars.

00:21:15.000 The more money comes in, the greater inflation is.

00:21:17.000 And this is why the price of eggs are not going to go down.

00:21:20.000 It's not a supply chain issue anymore.

00:21:22.000 It's really part of it and a significant part is the financing of the debt, which roughly one-third has to be refinanced every year.

00:21:33.000 Marjorie Taylor Greene in her open talked about the interest payments being almost as high as the Pentagon's $900 billion.

00:21:40.000 Well, actually, that's the net number.

00:21:42.000 That's taking out the interest we have for owning our own bonds because you can't sell them.

00:21:46.000 So guess what?

00:21:47.000 We just make them up and then, I'm not kidding you.

00:21:52.000 This is how it's done.

00:21:54.000 When we run out of Japanese insurance companies, when we run out of the Chinese Communist Party, when you run out of the guys in the Gulf Emirates, 0.89

00:22:00.000 when everybody's tapped out, when everybody's tapped out, they just create them and you own them.

00:22:06.000 And they do all kind of, you know, oh, but this is public debt, public held, they got all the things in the debt and the net debt.

00:22:13.000 I like looking at the gross number, which I think is one, three or one, four trillion in interest.

00:22:20.000 Like I said, I haven't taken these numbers to the fifth decimal place, but directionally, this is all close.

00:22:25.000 And look, everything I've said, it's all coming, like I told you, months ago.

00:22:29.000 Not that I'm happy about that.

00:22:32.000 I think we've kind of forced this topic of coming out.

00:22:34.000 Now, let me give you some more reality check.

00:22:37.000 When they talk about, because the spending is now, the debt increases now, now, now, now, because that's reality.

00:22:44.000 That's cash going out the door.

00:22:46.000 It's cash going out the door.

00:22:48.000 And you have two ways of cash going out the door.

00:22:50.000 What Doge is doing, they call it audit.

00:22:52.000 What they're initially doing is going in and finding inefficiencies, inappropriate, misappropriations.

00:22:56.000 They're talking about illegal payments.

00:22:58.000 I don't know.

00:22:59.000 I would assume the systems are better than that.

00:23:01.000 Maybe they're not.

00:23:02.000 We'll see.

00:23:03.000 But Moskowitz just calls the bluff.

00:23:06.000 Okay.

00:23:07.000 We can't finance it.

00:23:08.000 If it's, if it's illegal or if it's inappropriate or if it's misdirected, that's got to come out.

00:23:15.000 This is what I've been saying forever.

00:23:17.000 We can't do that.

00:23:18.000 Now, the harder of that, that's, and that's going to be some, that's going to be a number.

00:23:21.000 Hopefully it's a significant number to get to, so we can stop it.

00:23:26.000 We ought to be able to stop that immediately.

00:23:29.000 The harder is programmatically.

00:23:31.000 Remember, it's not finding ways for an abuse and getting rid of some bureaucrats. 1.00

00:23:36.000 Of course, that's got to be done.

00:23:38.000 And President Trump yesterday signed an executive order in there.

00:23:41.000 And that was a rift.

00:23:42.000 That's a major reduction in force.

00:23:44.000 I think he's up to 50% of the federal workforce.

00:23:47.000 And that's going to be tangled up in courts, but at least it's a shot across the bow.

00:23:50.000 And Natalie's going to be here in a second. 0.77

00:23:52.000 Talk about, that's not easy because these judges are, this is, this is the J6 all over again.

00:23:58.000 Now it's against President Trump and his programs, but let's get back.

00:24:04.000 You have the tax, you have the tax deal and they want, I think four and a half trillion dollars in the tax and the ways I mean, I haven't seen.

00:24:11.000 I just got to make sure that the no tax on Social Security is there because yesterday, voila, out of nowhere, the Penn Wharton, you know, all of a sudden they put an analysis out there that I'm sure wasn't paid by the Koch brothers, hint, hint.

00:24:27.000 Because it said, gosh, we can't really cut taxes on Social Security for the, for the middle class because, you know, it may help the wealthy too much.

00:24:35.200 And then when you look at the study, is this had to be a bad thing or hurt the Social Security thing?

00:24:39.600 The, you look down, they, they never like, uh, had, uh, oh, you would back and fill.

00:24:45.080 If you, if you get to everybody and you had a gap, maybe you increase taxes on the wealthy.

00:24:49.160 Yeah.

00:24:50.940 Yep.

00:24:52.340 They missed that point.

00:24:53.620 That's kind of buried down there.

00:24:55.080 They're trying to sell you on the fact that taking out the tax on Social Security is a bad thing.

00:25:01.440 No, it is a good thing.

00:25:02.740 It is a very good thing.

00:25:05.140 One, folks that have worked all their lives and are now in the golden years and finally get a little time off to themselves to kind of, uh, you know, do what they want to do and pursue their purposes, having to be in the grind every day.

00:25:21.440 Even if you loved your job, not only do you get your Social Security, which is not supposed to totally be out yet, but you get that.

00:25:27.600 You don't have to pay taxes on it, which has always been, I thought, egregious.

00:25:30.260 So you got this tax.

00:25:32.840 We haven't gotten to the bottom.

00:25:33.640 We haven't gotten into that because I think, I don't think it's been released yet.

00:25:35.980 It was released during the show.

00:25:37.160 However, to performatively pay for that, they have to have cuts.

00:25:43.160 And I've gone through this so many times.

00:25:44.620 People call me up on the McCarthy and for years, oh, we got so many conservative wins.

00:25:49.180 We have so many conservative wins.

00:25:51.540 We have so many conservative wins.

00:25:54.400 You feeling any wins?

00:25:56.580 You see Elon up there every day?

00:25:59.140 He's talking about stuff that's been in the system that people have been trying to dig out for years and have been buried by the Republican establishment at the subcommittee level.

00:26:06.980 Not even coming up to the floor at the subcommittee level.

00:26:10.560 USAID is a perfect example.

00:26:13.220 Mike Benz, Darren Beattie, Raheem Kassam, Jack Posobiec.

00:26:16.620 I go on and on and on.

00:26:18.420 Eli Crane, Marjorie Taylor Greene, Matt Gaetz, Andy Biggs, Paul Gosar.

00:26:27.560 On and on and on.

00:26:30.000 And it all gets voted and it gets in there.

00:26:33.220 Because I guarantee you all this four and a half train, we got all these, man, massive cuts.

00:26:38.400 Really, there's like one and a half train, two train.

00:26:40.520 It's not this year, it's not next year.

00:26:42.500 It's in the out years.

00:26:43.600 And therefore, it's irrelevant.

00:26:46.620 One thing we're going to make the political class wake up to is that we're in a crisis and there's no easy choices.

00:26:53.800 There's no magic wand.

00:26:55.440 You can power this.

00:26:56.360 I've said this for years.

00:26:57.440 And the farther you go down, the fewer alternatives and choices you're even going to have.

00:27:04.120 But now when people say, well, Steve, deficits don't matter, debt don't matter.

00:27:07.440 Yeah, well, it matters.

00:27:08.200 Because now it's embedded into, that's one of the reasons inflation is up.

00:27:12.720 And oh, by the way, even as I'm speaking, the Fed just, and expect it, poppin' inflation.

00:27:19.720 Poppin' inflation.

00:27:21.840 What have I warned about?

00:27:23.020 The bond market's going to get a vote here.

00:27:25.460 They're going to get a vote.

00:27:26.300 And the bond market has turfed out more governments than howitzers.

00:27:31.680 Look at the carnage in the global political.

00:27:35.760 Three British governments now.

00:27:37.980 Truss, Sunak, and now Sarkir.

00:27:43.680 You've got France, turfed out Macron's control of the assembly.

00:27:49.720 Canada.

00:27:52.300 On and on and on.

00:27:53.720 Biden, I would argue.

00:27:57.360 We have to get serious about this.

00:27:58.980 It's not serious right now.

00:27:59.980 It's still performative. 0.99

00:28:02.540 14 March, and the Democrats are not dumb people. 0.98

00:28:05.260 We had them on their back heel, and now they're plotting and planning. 0.92

00:28:08.060 In federal courts, in state courts.

00:28:10.780 And the political power they don't have, they're going to sit there and try to leverage on the 14th of March.

00:28:15.620 They're all in for shutting down Trump's government in its first 100 days.

00:28:23.000 So we'll weave our way through the thicket.

00:28:27.020 In the fog of war, it's important to see through the gun smoke clearly.

00:28:34.840 Short commercial break.

00:28:35.640 Back in a moment.

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00:30:07.660 Here's your host, Stephen K. Vance.

00:30:15.820 Welcome back.

00:30:17.500 Particularly Rumble Chat, don't worry about the hair.

00:30:19.340 You got to do this like once every year or so to kind of get it set to go back.

00:30:23.280 It was too out of control.

00:30:25.800 As much as I love it long and we're going to get it long again, you got to reposition.

00:30:30.840 You got to reset.

00:30:31.760 We had to reset.

00:30:33.640 So don't fret.

00:30:36.100 The main is coming back.

00:30:37.660 We're just doing it in a way that maybe is not so crazy.

00:30:42.640 I'm trying to go through these numbers as we're doing it.

00:30:44.740 I want to bring in Natalie.

00:30:46.540 So, folks, let's step back for a second.

00:30:49.000 On the battlefield of Days of Thunder and pushing through President Trump's agenda, as I said, you've got the – let's go back to the – you've got the kinetic part of the Third World War.

00:31:00.720 And so Besson's over there.

00:31:02.440 J.D.'s over there.

00:31:03.460 Hegseth's over there.

00:31:05.180 Our own Jack Posobiec's over there.

00:31:06.560 President Trump's given him instruction, gave Besson a big attaboy to go over there and get involved in it.

00:31:15.100 Now, he's supposedly, I guess, negotiating some of the minerals.

00:31:17.680 As you know, we're like cut, run, just shake their hands, say it was great knowing you.

00:31:22.240 Good luck, hope it works out, and then depart.

00:31:25.980 No security force, no commitment of putting up any money for a security force, and certainly no reconstruction money.

00:31:31.600 That may not be happening as we like, but hey, it's all part of it.

00:31:37.060 So the first thing is President Trump wants the guns down and the killing to stop.

00:31:40.480 He said that over and over again.

00:31:42.080 Number two, you've got in the Middle East, you've got – you know, President Trump's kind of given the ultimatum, the ultimatum, high noon hostages, all hostages.

00:31:50.860 Or, you know, they're going to go back to work on the Muslim Brotherhood Hamas. 0.78

00:31:56.980 I will tell you, General Sisi canceled his trip to see President Trump last week.

00:32:02.660 They had the King of Jordan yesterday.

00:32:04.300 That was not a great meeting.

00:32:05.620 We teed it up on the 6 o'clock show – excuse me, on the 5 o'clock show.

00:32:10.280 That was not a great meeting.

00:32:12.060 You could tell.

00:32:13.700 I think President Trump gave him some hard truths.

00:32:16.700 I'm not so sure they were digging that.

00:32:19.620 So the whole Middle East – remember, these are not going to be easy.

00:32:24.060 If President Trump had not had the election stolen from him, from the usurper, we wouldn't be in this situation.

00:32:29.240 But, hey, we are.

00:32:30.260 We are.

00:32:31.140 We're not whining about it.

00:32:31.920 We're just giving a reality check.

00:32:32.940 Both of those are hard.

00:32:33.840 Then the second on the southern border, it's pretty obvious, Homan needs some cash.

00:32:40.620 Just does.

00:32:41.800 Because the infrastructure was allowed to deteriorate under Biden.

00:32:45.440 Also, Homan, Liz, you're probably this afternoon, the Catholic Church, the progressive part of the Catholic Church, i.e. the Pope and his gang, are now fully thrown down on this thing.

00:32:58.800 To basically go against MAGA, the President of the United States, the United States of America, Tom Homan.

00:33:04.920 So that's coming at us.

00:33:07.280 And Homan's grinding, still doing the ICE raids.

00:33:09.280 But at some point in time, to get to the mass part of the mass deportations, you've got to have some infrastructure.

00:33:15.500 You've got to be ready to roll.

00:33:17.260 And so that's hung up.

00:33:18.900 They're pushing.

00:33:19.680 They're doing the ICE raids as best they can.

00:33:21.600 Then in the middle, the existential is what we're just talking about.

00:33:24.220 And we'll get back to that.

00:33:25.240 But then you've got the three ways.

00:33:27.520 You've got the confirmations.

00:33:28.900 You have the executive orders and executive actions for the Days of Thunder.

00:33:31.880 You've got the confirmations.

00:33:33.840 And then you have the legislation part, which is the reconciliation.

00:33:36.720 So we're covering that kind of matrix.

00:33:39.840 In this, and yesterday I held up the New York Times outside the courthouse to say they're coming at the – in the federal courts, they're all over.

00:33:49.740 There's suits all over the place.

00:33:51.080 And they're selecting these judges, these district federal judges, to give blanket relief or blanket stand-downs for the whole nation.

00:34:01.240 And as Natalie Winters has found, these are the most radical judges and really activists.

00:34:07.600 And this big question about a constitutional crisis, do you actually – when they tell you you've got to stop – you've stopped spending, you've got to keep putting the money in the system, you just say, no, we're not going to do that.

00:34:18.300 Let's go to the appellate court, or what are you going to do about it?

00:34:22.840 My big fear, and I think I'm right on this one, the ticking time bomb or the clear and present danger is the state court in New York City.

00:34:31.380 Because if the – Washington, D.C. is the bridge of the ship with the home offices and the Fed and the Treasury and the White House.

00:34:40.040 If it's the bridge, the engine room on transactions is New York City.

00:34:44.120 Everything runs through there, and it gives them jurisdiction.

00:34:46.960 And you have a radical source element in the Manhattan district attorney who – panel, grand jury, indict anybody.

00:34:53.660 And Tish James, who's overseeing it, who then brings civil suits or whatever to slow people down. 1.00

00:35:01.380 So the resistance is building.

00:35:03.920 The courts, they're going lawfare again.

00:35:06.620 We're engaging it, folks.

00:35:08.000 And every day here has got to be – you've got to move the chains.

00:35:11.420 We've got to have wins.

00:35:12.340 Natalie, you've unearthed some things that are quite disturbing, but reality check.

00:35:16.960 What do you got, ma'am?

00:35:18.740 Sure.

00:35:19.200 Well, I think just to link it back to everything you're saying, right, all the people right now who are melting down about how USAID being shut down is going to destroy the so-called soft power of the United States.

00:35:31.260 Well, I think what they've done to you, what they've done to President Trump, what they've done with these radical appointments, not of judges but of activists – I guess we now know why.

00:35:40.780 Democrats in the Senate were working overtime and into the wee hours of the night to confirm as many judges as possible because that was essentially the backbone, the sort of central nervous system of their resistance efforts, of course, in concert with the media, with the civil society mass demonstration-type groups.

00:35:59.220 But I think it's important to not just sort of let the idea of someone being a judge kind of go unnoticed or leave no stone unturned.

00:36:08.460 So basically all of the judges who have tried to block President Trump's efforts to, I think if you get to the heart of it, deconstruct the administrative state, whether that's the spending freeze, whether that's stopping the grants over at NIH, USAID, Treasury, Labor, you name it.

00:36:24.600 All of those judges who are basically rubber stamping the kind of, I would say, activist, wet dreams of the most far-left resistance organizations that you've ever met, they all have extremely concerning histories and track records, not just of donating to Democrats and being involved with Democratic politics, but more precisely making legal decisions that are not rooted in anything constitutional.

00:36:48.880 You want to talk about a constitutional crisis? Let's talk about the records of these judges.

00:36:52.880 But just to get really granular, one of the top judges who's been really creating issues for President Trump is none other, not Mitch McConnell, but John McConnell, the chief judge out in Rhode Island, who is not only just blocking President Trump's federal spending freeze,

00:37:08.180 but he's even going so far as to threaten criminal charges against President Trump and those of his advisers who want to kind of roll out that policy proposal.

00:37:16.980 Just to set the stage, we're going to play a kind of smattering of clips showing you just how radical this guy is.

00:37:22.780 But this is someone who was a member of the Finance Committee back for Hillary Clinton's Senate campaign, hosted fundraisers for her, was on the board of Planned Parenthood,

00:37:31.120 helped ACLU sue ICE over a dead Chinese, probably Communist Party-linked migrant, worked on countless Democratic campaigns collectively between him and his wife.

00:37:42.260 They've donated six figures to Democratic politicians, candidates, campaigns, and the media wants to just make the headline, right?

00:37:51.120 Oh, judge slaps down dictator Trump wanting to do a federal spending freeze.

00:37:55.680 But I want to play this montage of clips if we can, just to show you how truly beyond the pale and radical this so-called independent arbiter of fact in this, you know, legal mind

00:38:06.820 that the mainstream media is now in will and wooing over.

00:38:10.840 Judge John McConnell, let's roll the clips.

00:38:22.420 We're not playing the clip?

00:38:23.820 You got to test it.

00:38:24.440 Okay, I have to toss it in.

00:38:26.660 By the way, I just want to make sure the engine room's sending me something.

00:38:31.060 What we call this is...

00:38:33.440 ...through government actions.

00:38:43.900 When you're sentencing someone, when we talk about sentencing,

00:38:47.120 that you have to take a moment and realize that this, you know, middle class, white, male, privileged person

00:38:55.960 needs to understand the human being that comes before us, that may be a woman, it may be black, may be transgender, may be poor, may be rich, may be whatever,

00:39:05.740 where courts stand and enforce the rule of law that is against arbitrary and capricious actions by what could be a tyrant or could be a whatnot.

00:39:18.280 We saw plenty of examples of that recently.

00:39:20.860 So too often, to really understand this, we fall back on kind of a stereotypical comment that judges should have no opinions and whatnot, and that's just not true.

00:39:33.240 We have put together a diversity and inclusion and racial justice committee that has three goals.

00:39:41.280 That in many ways, racism is a white people's problem, and white people need to figure out how to solve it and need to do the hard work to fixing it.

00:39:49.600 And we all have racism, obviously, but not the overt kind.

00:39:57.760 So I think where he's had the biggest...

00:39:59.840 Okay, so Natalie, and by the way, I want to thank you for getting that, it worked out.

00:40:08.180 The engine rooms sent me that this is forum shopping, the official term of our forum or venue shopping, and that's what you're seeing here.

00:40:15.940 Is that the federal judge?

00:40:17.820 Judge, that guy sounds like a mid-level Grundoon activist, ma'am.

00:40:23.260 No, that is the federal judge.

00:40:25.360 It's absolutely absurd.

00:40:26.600 The buried lead to of that whole kind of display of commentary, it was back in 2021.

00:40:31.660 I obtained the whole hour-long event.

00:40:33.340 I watched it.

00:40:34.040 I cringed through every moment.

00:40:35.680 But he was actually speaking to a high school, both children and their parents.

00:40:41.180 So that was his sort of watered-down version of radicalism.

00:40:45.040 But no, that's the chief judge, like I said, in Rhode Island, who runs the court up there.

00:40:49.880 And basically, Steve, I mean, they, and when I say they, I mean the Mark Elias's of the world, the Normi's and the people who are sort of the architects of the Democrat current lawfare strategy.

00:40:58.620 They've admitted to court shopping, right?

00:41:01.200 That was sort of what they were planning, I think, since they saw President Trump win North Carolina and then Pennsylvania.

00:41:06.840 They started realizing we need to get, you know, kind of our work in order.

00:41:11.820 But I just think it sort of broadly, more conceptually, goes back to this idea, right, that the NGOs that were bankrolling, they're not actually NGOs.

00:41:20.580 They're traitors and they're organizations that are being used to destroy this country. 0.94

00:41:24.480 Bureaucrats are not bureaucrats. 0.86

00:41:25.760 They're embeds.

00:41:27.280 Schools are not schools, right?

00:41:28.520 They're indoctrination grounds.

00:41:29.520 And in the same way, I think the brilliance of President Trump is he can sort of unmask and reveal the radicalism and politicization of every aspect of American society, though I guess it's not really politicization.

00:41:40.280 It's just the embedding of the deep state and the idea that these courts, whether it's the kind of impeachment witnesses, that they don't have to answer to President Trump.

00:41:49.320 And just because they don't like his approach to politics, therefore, they are justified to engage in sort of outside the system change, which I think if you get to the core of what Norm Eisen is talking about, the idea of these color revolutions, it to its core is a movement that fundamentally rejects election results.

00:42:07.960 And in the same way, all of these judges, right, are essentially doing that because they just don't like the policies of President Trump.

00:42:14.720 And, yeah, what he said in those clips are absolutely radical, and it's not just supposed to be a gotcha moment, but it just shows you that judges like him are using their courts, their power and their influence not to reflect anything constitutional, but to take out their woefully misguided, truly radical ideologies on this country.

00:42:35.820 And after the break, if we still have time, we can get into who's exactly doing the court shopping, the groups that are behind this, because as you can probably imagine, it all goes back to the law fair that we've seen over the last four years, too.

00:42:49.180 Yeah, hang with us, Natalie.

00:42:50.420 I'm going to let you – I won't need you in the next segment, and we'll let you go to the top hour.

00:42:53.940 Now you've got to get over to the White House.

00:42:55.240 Okay, so Natalie was talking.

00:42:56.960 I think Pam Bondi's just announced she's going to have a press conference at 430.

00:43:00.660 I'm sure that's going to be covered by Real America's Voice before us.

00:43:03.180 We'll pick the – at 5 o'clock, we will go live to the press conference.

00:43:08.140 If there's something that bigger happened in the White House, I wouldn't assume.

00:43:10.840 I think they let her have runway. 1.00

00:43:12.660 Pete Hexeth, folks, you fought for him.

00:43:15.780 It's the reason he's secretary of defense.

00:43:18.160 He just dropped a bomb over in the discussions in the Ukraine.

00:43:22.800 I think they're in Munich and ahead in Brussels.

00:43:24.980 Pete Hexeth said, hey, it's unrealistic to think we're going back to pre-war borders in Ukraine.

00:43:34.780 Finally, an American official that had the stones to sit there and let the Ukrainian people in NATO and Europe, while he's over in Europe, hear the truth.

00:43:46.960 This is what President Trump said.

00:43:48.040 He's trying to get peace first, prosperity second.

00:43:51.460 And in getting peace, you've got to talk truth.

00:43:55.300 These people have been led down the primrose path to their destruction.

00:43:59.560 And finally, you've got people like Hexeth are telling the truth.

00:44:02.760 Short commercial break.

00:44:03.560 We're going to get more into the war against President Trump next.

00:44:06.320 What if he had the brightest mind in the war room, delivering critical financial research every month?

00:44:15.040 Steve Bannon here.

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00:44:17.860 I love this guy.

00:44:19.300 He's our wise man, a former CIA, Pentagon, and White House advisor with an unmatched grasp of geopolitics and capital markets.

00:44:26.420 Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself.

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00:44:55.400 Right now, war room members get a free copy of Money GPT when they sign up for Strategic Intelligence.

00:45:02.160 This is Jim's flagship financial newsletter, Strategic Intelligence.

00:45:06.980 I read it.

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00:45:09.160 Time is running out.

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00:45:19.620 Do it today.

00:45:21.400 The Treasury market, paired with a decreased willingness of banks to act as intermediaries, is a major issue on the horizon.

00:45:29.000 When former Treasury Secretary Yellen was before this committee last year, I asked her about the resiliency of the Treasury market,

00:45:35.520 specifically about the wisdom of permanently modifying the SLR.

00:45:39.880 She said it's something that the banking regulators should consider.

00:45:43.760 Does the Fed plan to finally look at the SLR?

00:45:46.880 Yes, I believe we will.

00:45:49.160 I have, for a long time, like others, been somewhat concerned about the levels of liquidity in the Treasury market.

00:45:57.400 The amount of Treasuries has grown much faster than the intermediation capacity has grown.

00:46:02.360 And one obvious thing to do is to lower, is to reduce the effective supplemental leverage ratio, the bindingness of it.

00:46:12.340 So that's something I do expect we will return to and work on with our new colleagues at the other agencies and get done.

00:46:21.480 Because I think my colleagues are aware that over the course of recent times, literally we have eight times as much debt to process,

00:46:27.940 but only half as many major market makers.

00:46:31.560 The Federal Reserve is not immune to politics.

00:46:34.540 You, like every Fed governor, go through a lengthy confirmation process in the Senate.

00:46:38.500 And, of course, you're required to answer to Congress in hearings like this.

00:46:43.940 I can trace a major political turning point at the Fed to the passage of Dodd-Frank,

00:46:49.240 which greatly expanded the Fed's regulation and supervision authority.

00:46:53.220 Chairman Powell, do you worry that the independence of the Federal Reserve's monetary policy function

00:46:58.280 is in any way hindered by its role as a bank regulator?

00:47:01.940 Can you do both?

00:47:02.760 Well, we can and we do, and we'll continue to do that.

00:47:07.680 Clearly, the regulatory and supervisory side is more contentious in political circles.

00:47:16.680 But we will continue to carry it out as best we can and to do so in a nonpolitical way as best we can.

00:47:22.180 And clearly that will be a major discussion topic in the task force.

00:47:25.560 In my remaining time, could you discuss the Fed's five-year review of monetary policy?

00:47:31.680 What are the categories of issues you think that will be helpful to receive feedback on?

00:47:38.140 So a good part of it will be looking at the changes we made in 2020,

00:47:42.820 which were made in an environment where we had been stuck at the effective lower bound at zero for seven years.

00:47:50.460 And the highest we got our rate really was, sustainably, was one and a half percent.

00:47:55.700 And that was the highest of any advanced economy central bank.

00:47:58.420 So the concern was that at the slightest downturn, we'd be back at the zero lower bound and we'd be stuck.

00:48:04.540 So we were looking for ways to make up for that.

00:48:07.940 So then the question is, we got this inflation out of the pandemic and the events related to it.

00:48:14.260 Are we in a different place now?

00:48:15.520 And I think the chances are pretty good that we, that maybe that the effective lower bound is still a concern,

00:48:20.620 but it's not the base case anymore.

00:48:22.480 So we need to look at that and decide how that, what are the implications of that for our framework?

00:48:28.480 Thank you, Chairman.

00:48:29.300 And I look forward to several more discussions on these topics.

00:48:32.620 And with that, I yield back the balance of my time.

00:48:34.320 So he's at the House Finance Committee.

00:48:35.900 That's Powell.

00:48:38.200 We'll dip a bit in and out of that because it can be directly related to President Trump's plan.

00:48:42.600 Don't know if he's taking on board this new spending plan, but as he said right there, until you get control of this debt,

00:48:50.740 until you get control of the refinancing of, I don't know, up to 30% of the debt every year, a third of the debt every year,

00:48:57.720 you're going to embed inflation.

00:49:01.480 Birch Gold, remember, here and with Birch Gold, we're trying to talk, show you process.

00:49:06.760 The process of, because they don't say, go buy gold.

00:49:10.860 That's not our job.

00:49:11.880 Go talk to the guys at Birch Gold.

00:49:13.220 What we've done with Birch Gold, and I think it's genius, is to lay out to you the things that drive monetary markets and drive capital markets.

00:49:21.580 That's why I go, we had the six free installment on the end of the dollar empire.

00:49:25.820 This has been a high enough issue that President Trump came out with a truth weeks ago saying,

00:49:32.200 hey, BRICS nations, if you even think about ganging up and trying an alternative currency backed by gold or somehow backed by gold,

00:49:39.220 I will put a 100% tariff on each one of you.

00:49:45.160 And when Saudi Arabia and these guys or some of the countries doing it, that gets their attention.

00:49:49.820 Birchgold.com, you've got to read the six free installment.

00:49:52.140 We'll read them all, but the sixth free installment is Modern Monetary Theory, The Idea That Broke the World,

00:49:59.160 because we're a huge believer in ideas have consequences.

00:50:02.420 Birchgold.com slash Bannon.

00:50:04.640 Go check it out today.

00:50:06.220 Natalie Winters, the groups that are driving this and driving these to really go forum shopping and to get these radical judges there at the forefront.

00:50:16.480 They're the vanguard of trying to shut down President Trump's revolution, ma'am.

00:50:20.580 Yeah, I guess it's forum shopping to destroy America. 0.83

00:50:26.600 And when you look at who these people are that are involved, it's always they say conspiracy theories.

00:50:31.240 I think in the war room we say pattern recognition.

00:50:33.940 And I think case in point, right, Protect Democracy, this group that was intimately involved with keeping President Trump off the ballot in Colorado,

00:50:43.220 is part of the group that represents Democracy Forward, that's been behind virtually every single lawsuit against every action taken by President Trump.

00:50:53.380 And you know who chairs the board of Democracy Forward?

00:50:57.280 None other than Mark Elias, right?

00:50:59.400 So please spare me the idea that Mark Elias is some independent arbiter of elections and electoral politics when he's the one directly responsible for not just being the lifeblood and, you know,

00:51:10.320 the front lines of everyone who represents the deep state here in D.C.

00:51:13.620 But they're launching legal assault after legal assault on President Trump every single day.

00:51:20.800 And remember, States United for Democracy, the Democracy Defenders Fund, that's the Norm Eisen group,

00:51:27.280 they're the one that basically brought the case against all the people out in Arizona, as FOIA information and materials now show.

00:51:34.080 They've also been suing doge from every single vertical. 0.99

00:51:38.140 So it's the same exact people who are all bankrolled and funded by the same exact institutions.

00:51:44.380 And they're using the same straplines and messaging that they used to come after President Trump,

00:51:49.720 certainly for the kind of interregnum period from 2020 to 2024.

00:51:53.260 But it's also the same people who were involved from 2016 to 2020 with the impeachments or the various lawfare stuff.

00:51:59.880 So I think it just sort of shows you that the deep state does exist.

00:52:05.080 And right now their weapon of choice is lawfare because they have nothing else.

00:52:10.220 But I think it sort of proves that every lawsuit that they're bringing against him is not rooted in constitutional jurisprudence or anything remotely legal.

00:52:18.120 It's rooted in pure political grievance and a meltdown over the fact that President Trump is deconstructing the administrative state.

00:52:25.320 Okay, Natalie, we're going to let you get over to the White House.

00:52:30.500 There will be a lot happening this afternoon.

00:52:32.100 Pam Bondi is going to have a press conference at 4.30, her first as Attorney General of the United States.

00:52:37.560 Vote on Tulsi Gabbard's coming up.

00:52:39.160 Vote on Bobby Kennedy's coming up.

00:52:41.220 A full day.

00:52:42.260 You've got a doge hearing going on right now.

00:52:44.200 Subcommittee hearing.

00:52:45.400 A testimony of the Chairman of the Federal Reserve.

00:52:47.980 And much, much more.

00:52:49.520 Alex de Grasse is going to join us in the second hour.

00:52:52.800 We've got a lot going on.

00:52:53.960 Natalie, social media so people can follow you.

00:52:57.680 Natalie, do interns on all social media platforms.

00:53:00.060 Thank you for having me.

00:53:02.800 Great job, ma'am. 1.00

00:53:03.960 See you at the White House this afternoon.

00:53:06.360 Natalie Winters, our White House correspondent.

00:53:09.480 Short commercial break.

00:53:10.400 The right stuff's going to take you out.

00:53:13.060 We'll be back, I think, in 90 seconds.

00:53:15.400 Second hour of the war.

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Bannon's War Room - February 12, 2025

Episode 4263： Performative Policy Vs. The Reality Of Where We Are At

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