Bannon's War Room - Episode 4498： Trump Heads To The Capitol; Calling Out Hypocritical Spending

00:00:00.000 Okay, welcome. It's Tuesday, 20 May, Year of the Lord, 2025. An extraordinary morning already.

00:00:06.920 It is, I got Dave Brett right in shotgun with me. It is unheard of for the President of the United States to go to Capitol Hill to speak to a conference to whip votes on his budget.

00:00:17.880 So already this is pretty historic this morning. Did you ever see it when you were in Congress? Ever heard of it?

00:00:22.500 No, no. Once in a while. I stayed in the unions, those kind of things. Maybe an offsite once in a while, but that's it. But no, no, no coming over.

00:00:29.220 To whip votes.

00:00:29.780 No, no.

00:00:30.180 And he's whipping hard. Okay, here's what we're going to do. The President's in the conference right now. I think it's going to be a little heated because he came in thrown down hard.

00:00:39.900 There's some voices in there that say, hey, we've got to get our hands around Medicaid. You're going to blow up the deficit.

00:00:44.460 We're going to play a cold open. It's going to go through what the President actually said. We're going to come back. We're going to be covering this live all morning.

00:00:50.980 As soon as the President steps out and goes back to the sticks, we're going to cut immediately to this. Let's go ahead for the cold open to this morning's war room.

00:01:27.860 The clearing of this first step in the House committee. There's a lot of uncertainty about the next steps. There are moderates who are concerned about salt caps.

00:01:36.840 There are conservatives who are concerned about Medicaid cuts not being aggressive enough. There's just a whole lot to be figured out.

00:01:45.920 And then, as you just pointed out, the Wall Street Journal reporting that this is going to add to the deficit, which is going to concern the fiscal hawks in the Republican conference.

00:01:55.960 So the Speaker of the House has quite a bit of work cut out for him in the coming days.

00:02:01.820 At the end of the day, Trump is going to urge them to pass the bill, but it's unclear if Trump is really going to wade in on these specific concerns that various members have.

00:02:10.840 And as we move toward the midterms, these more moderate members of Congress who are ultimately going to decide whether the Republicans are going to keep the House are the ones that are going to face some of the most pressure.

00:02:22.700 It'll be interesting to see how they respond, particularly to President Trump and the pressure we expect him to exert on them in the coming days.

00:02:30.700 Mr. Speaker, what do you want to hear from the President this morning?

00:02:33.320 Well, I just got off the phone with the President. He's on his way over. He's excited to talk to the House Republicans this morning, and we're excited to have him.

00:02:42.040 This is a big week for his agenda, for all of us. We've been working on reconciliation for more than a year, as you all know, and it all comes down to these final details.

00:02:51.620 And I think the President is going to encourage everyone this morning to get in line and get the votes done.

00:02:57.560 We need to deliver this to the American people.

00:02:59.140 The American First agenda is all wrapped up into one big bill, and we're really excited to deliver it this morning.

00:03:04.620 So we're delighted. I'll be meeting the President when he arrives here very soon.

00:03:08.280 We're walking him in and introducing him, and I think it's going to be a great morning for the Republican Party and the House Republicans in general.

00:03:14.180 So we're looking forward to it. Thanks for being here.

00:03:15.260 Is this whole issue still at the evening, sir?

00:03:18.860 We're a heart attack away from losing the House, okay? Now we have seven.

00:03:23.360 That's a big, because we won some elections, as you probably noticed, and we're going to win a lot of elections.

00:03:27.960 We have an economy that's roaring. We took out 5.1 billion, if you take a look, 5.1 trillion, with a T, not a B, 5.1 trillion out of the Middle East.

00:03:39.520 They're investing more than that. It's going to be ultimately more than that, what, 180 white-body Boeing aircraft.

00:03:46.940 They're spending money at levels that nobody's ever seen. Usually a president goes for a trip, and he loses money. In other words, he gives money. We went for a trip, but we took out $5.1 trillion.

00:03:59.360 Nobody has ever seen anything like it, and that's just the beginning.

00:04:02.520 So I think we're going to—I think we're a very unified party. The Senate's doing great. John Thune is doing fantastically. He's a great guy.

00:04:10.400 And we're going to have a bill, the one big, beautiful bill. I think it's going to be—it's the biggest bill ever passed, and we've got to get it done.

00:04:17.200 Tremendous tax cuts for people, tremendous incentives, tremendous regulation cuts, all these regulations that are so horrible.

00:04:25.580 And now you found out and find out what happened, because Biden—look, it's a very sad thing what happened, but I believe we're going to start looking into this whole thing with who signed this legislation, who signed legislation opening our border.

00:04:38.900 I don't think he knew. I said there's nobody that can want an open border. Nobody. And now I find out that it wasn't him. He auto-panned it.

00:04:47.780 Who was operating the auto-panned? This is a very serious thing. We had a president that didn't sign anything. He auto-panned almost everything.

00:04:55.240 He opened the borders of the United States of America. And I kept saying, who would do such a thing, allowing criminals to pour in from all over the world, not just South America, all over the world.

00:05:06.440 They came in from Africa. They came in from Asia. They came from the Congo. The prisons in the Congo and Africa—these are rough, rough people.

00:05:15.240 The prisons from the Congo are empty. You know where they are? They're in this country. Who would sign this? Nobody would sign it. No sane person would sign it.

00:05:25.060 You know who signed it? Radical-left lunatics that were running our country. And the auto-panned signed it. 0.99

00:05:29.960 And they didn't want him. And they were disappointed in getting him because they wanted Bernie Sanders.

00:05:35.500 And then after about two weeks, they said, wait a minute. This is a gift. He'll do anything. We're going to use the auto-panned.

00:05:43.160 And they used the auto-panned in everything. He didn't approve this stuff because when Joe Biden was with it, he would never have approved it.

00:05:50.800 You take a look. He would have never approved open borders. Go ahead.

00:05:53.380 Are Republicans still grandstanding in your view?

00:05:56.820 Oh, yeah, sure. You have a couple that will grandstand. But I think even the grandstanders should—look, the alternative is a 68 percent tax increase.

00:06:04.600 And you can blame the Democrats for that and one or two grandstanders. We only have one or two.

00:06:10.160 But we have tremendous support.

00:06:11.680 But you'll have a 68 percent tax increase or you'll get a massive tax decrease. You'll get a tax cut the likes of which we've never had before.

00:06:23.460 This is bigger than any Ronald Reagan tax cut. It's even bigger than the tax cut that I gave because, as you know, that's being extended and increased.

00:06:33.180 So this is the biggest tax cut in the history of our country. Or you'll get a 68 percent tax increase.

00:06:39.560 And if that happens, I mean, what Republican could vote for that to happen? Because there wouldn't be a Republican much longer.

00:06:46.040 They would get—they would be knocked out so fast. But we're going up to details.

00:06:50.580 This is a—I'm a cheerleader for this party and I'm a cheerleader for the country, much more importantly for the country.

00:06:58.200 But I'm a cheerleader for the party. And we're going to go up and I think we're going to have a very good discussion.

00:07:04.020 There are one or two points that some people feel strongly about, but maybe not so strongly.

00:07:08.020 On one of those points, do you consider some of the proposals on the table in co-pay and provider tax as a benefit cut?

00:07:14.760 How are you viewing those?

00:07:15.820 No, we're going to look—we are looking at one thing. We're not doing any cutting of anything meaningful.

00:07:21.540 The only thing we're cutting is waste, fraud, and abuse.

00:07:24.880 With Medicaid, waste, fraud, and abuse. There's tremendous waste, fraud, and abuse.

00:07:30.380 There's incompetent things winning. We have illegal aliens that are multiple killers with multiple murder records. 1.00

00:07:37.660 Getting Medicaid. I don't think anybody minds that we've got that. 0.61

00:07:41.600 The Democrats, on the other hand, are going to destroy it because they're going to leave these people on.

00:07:46.060 We're cutting three things—waste, fraud, and abuse.

00:07:49.200 We're not changing Medicaid, and we're not changing Medicare, and we're not changing Social Security.

00:07:55.760 And if I wanted to do those things, I would have done it during my four years that we were doing.

00:07:59.680 Mr. President, what's your message to your fellow New Yorker Republicans who are hung up on the salt issue?

00:08:04.600 Well, salt is a very interesting thing because the governors of New York and Illinois, you know, the big J.B. who's gone nowhere.

00:08:14.680 Probably right now he could be the worst governor in the country.

00:08:17.780 But Illinois and Gavin Newsom, those are the people that want this.

00:08:25.240 And they're Democrat states. They're all Democrat states.

00:08:27.800 You know, Ronald Reagan tried very hard to get this passed, was unable to do it the way we have it, where basically everybody's treated equally.

00:08:37.580 He tried it so hard, and he never got it done.

00:08:40.040 He was always disappointed. He never got it done.

00:08:42.340 We got it done. Now people want to change it.

00:08:45.200 So we're going to be talking about that.

00:08:46.820 But the biggest beneficiary, if we do that, are governors from New York, Illinois, and California.

00:08:53.860 And those governors are the ones that blew it because they weren't able to get it.

00:08:58.460 So I think we're going to be explaining that.

00:09:01.160 These are all very blue states that I don't really believe.

00:09:04.920 If we had honest elections, I don't actually believe.

00:09:07.100 I think I would have won California. I would have won New York.

00:09:10.140 I even think I would have won Illinois.

00:09:11.960 I think if they—we have to—you know, we're going to start this after.

00:09:14.860 I was talking to Mike.

00:09:16.160 And again, I'm his biggest fan. I love this guy.

00:09:19.560 He's the only guy who could have walked in with a one—think of it.

00:09:22.940 You can't be a guy like me and have a one majority.

00:09:27.120 You have to be a guy like him, a nice person.

00:09:29.640 He's very religious. He prays. He's a man of God.

00:09:33.760 And so am I. But he's really to a new level.

00:09:36.660 I will tell you. He is a great guy.

00:09:38.700 They love him in Louisiana. They love him in—that's the only kind of guy.

00:09:42.800 Somebody said, oh, well, we want somebody—if you put a certain personality in there, you would have never—

00:09:48.180 look at the—look at what he got passed, what he's gotten passed.

00:09:51.900 And just so you understand, he's gotten this passed, too.

00:09:55.160 And I don't think there's anybody I can give you guys that is so tough.

00:09:58.480 You guys would run if you ever looked at him.

00:10:00.520 If you ever saw some of these guys, you would not ask them questions you'd be afraid to.

00:10:03.940 This guy did something that I don't think there's anybody that's more well-suited to be a Speaker of the House,

00:10:11.280 especially in a case like this.

00:10:13.220 Remember, we had a majority of one for six months.

00:10:17.040 And that was a very frightening thing, because the Democrats have really hurt our country.

00:10:23.200 And we are going to go into very much—remember what I said, the auto-pick.

00:10:27.360 This government was illegally run for four years.

00:10:30.360 Thank you very much, everybody.

00:10:31.480 Mr. President, can you be a charging member of Congress?

00:10:34.900 That is Donald Trump about to go in and meet with lawmakers to push a massive reconciliation bill,

00:10:44.320 a bill that he said was the largest bill ever.

00:10:48.120 We're going to, or at least I am, I'm going to ignore the auto-pin conspiracy theory,

00:10:55.960 as well as the stolen elections as dicta, something that I suppose others may want to chase today.

00:11:07.320 I would rather focus, though, Julie, on the issue at hand.

00:11:10.980 This is the primal scream of a dying regime.

00:11:18.740 Pray for our enemies, because we're going medieval on these people.

00:11:23.940 Here's the time I got a free shot at all these networks lying about the people.

00:11:28.220 The people have had a belly full of it.

00:11:30.120 I know you don't like hearing that.

00:11:31.560 I know you try to do everything in the world to stop that, but you're not going to stop it.

00:11:34.240 It's going to happen.

00:11:35.300 And where do people like that go to share the big lie?

00:11:38.840 Mega media.

00:11:40.260 I wish in my soul, I wish that any of these people had a conscience.

00:11:45.700 Ask yourself, what is my task and what is my purpose?

00:11:49.460 If that answer is to save my country, this country will be saved.

00:11:55.800 War Room.

00:11:56.660 Here's your host, Stephen K. Band.

00:11:59.060 An extraordinary event.

00:12:04.720 President Trump, let's just be brutally frank, he is at the conference today to whip votes.

00:12:10.020 The votes are not there.

00:12:11.920 He's going to whip votes against the Freedom Caucus and other deficit hawks that are saying,

00:12:17.100 hey, I hear about waste, fraud, and abuse, but where's Elon?

00:12:22.380 Where's Doge?

00:12:23.660 I told you all, if it's going to be performative, you're going to pay a price,

00:12:27.980 and now we're paying a price.

00:12:29.160 The president, I just want to repeat, the president of the United States has gone up to Capitol Hill

00:12:33.720 because Speaker Johnson, it's obvious President Trump loves Speaker Johnson,

00:12:38.640 but Speaker Johnson hadn't done his job.

00:12:41.320 He couldn't deliver this.

00:12:42.460 So the president, this is extraordinary.

00:12:44.700 For the president of the United States to go to the Capitol

00:12:47.460 on something that's not the State of the Union and not like a declaration of war to go up.

00:12:56.580 And as we said before, this is the main kind of event.

00:12:59.140 You've got the stopping the kinetic part of the Third World War.

00:13:02.080 You've got the sealing the border, which he's done, or closing the border,

00:13:05.520 and the mass deportations, which we're driving towards a constitutional crisis on.

00:13:09.900 But this, getting the commercial relationships, which is the tariff and the trade deal,

00:13:16.160 reset around America first and American workers,

00:13:19.220 and then stop the madness of the Biden years on the spending,

00:13:25.160 and at the same time be able to reiterate and put forward your tax cuts

00:13:31.880 for the middle class and working class, and plus add no tax on overtime, no tax on tips.

00:13:36.480 And look, it's not no tax on Social Security.

00:13:38.780 It's a $4,000, what, write-off or $4,000 deduction.

00:13:44.460 But at least it's a start, not perfect a start.

00:13:46.820 However, the spending is very simple.

00:13:50.080 For Russ Vogt and all the great guys working,

00:13:51.660 the structural changes take place in the out years of the 10-year budget.

00:13:55.460 In the first couple of years, the deficits go up.

00:13:58.900 They're asking for a $4 trillion relief to the debt ceiling.

00:14:01.760 And my math, which has never been wrong, shows that we're going to blow through that

00:14:06.480 before Election Day and the midterm elections.

00:14:09.500 But the president's up there, and hey, he's not up for a discussion.

00:14:15.300 He's going to throw down hard.

00:14:17.480 So we'll see who has the stones to go to the microphone that's in the conference.

00:14:22.580 We've heard a lot of talk.

00:14:23.880 We're about to see Andy Harrison and crew.

00:14:27.520 If you go to the mic, expect to be hit by a...

00:14:30.380 Have your facts ready because President Trump's not up there for a debate.

00:14:34.660 Okay, pretty obvious.

00:14:36.100 I want the votes.

00:14:36.960 I want them now.

00:14:37.820 I want to move on.

00:14:39.100 We're going to be covering this all morning.

00:14:40.220 My wingman, Dave Brat, here on a fixed bayonet's day.

00:14:44.460 President of the United States, Capitol Hill.

00:14:46.500 Historic meeting.

00:14:48.020 Short commercial break.

00:14:49.160 We're going to go cut live to President Trump.

00:14:51.100 As soon as he steps out and goes to the sticks, stick around here in the world.

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00:15:15.840 They're calling this the Rio Reset.

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00:15:23.780 bringing down the value of the dollar in your savings.

00:15:26.960 While this transition won't not happen overnight, but trust me, it's going to start in Rio.

00:15:33.420 The Rio Reset in July marks a pivotal moment when BRICS objectives move decisively

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00:16:27.040 Here's your host, Stephen K. Bannon.

00:16:31.960 Okay, people are tweeting from inside the conference.

00:16:35.380 And we're going to try to get as many of those as possible.

00:16:37.260 Grace and Brad here are going to organize this.

00:16:40.700 So where are we?

00:16:41.940 Here's where we are.

00:16:42.960 I don't know.

00:16:45.060 There's 20 or some votes, maybe a little more, of folks that want to say,

00:16:49.320 hey, we've got a shot here.

00:16:50.460 And I'm a pro-Medicaid to the degree it is helping the working class

00:16:57.040 and is not rife with waste, fraud, and abuse.

00:17:01.720 As you remember on this show with Elon,

00:17:06.220 we kept harping on the fact that don't pick on the runts of the litter

00:17:09.380 and don't go after programmatic things that are going to be taken care of

00:17:14.880 in the normal course of business like USAID.

00:17:17.640 But go after, cross the Potomac and go to the Pentagon

00:17:21.180 and go to Medicaid for the waste, fraud, and abuse.

00:17:24.060 So now the president's sitting there going,

00:17:25.400 I fully support taking out waste, fraud, and abuse.

00:17:27.640 Okay, like where's the doge?

00:17:30.020 And I hear there's some magic number, you know, 50 billion or 100 billion,

00:17:33.220 but it's going to be through some rescission.

00:17:34.700 Now's the time to get all the cards on the table.

00:17:37.760 The president's up banging heads.

00:17:39.100 I mean, just in the conference, he compared Massey, I guess sitting there,

00:17:43.180 to Rand Paul, which I don't know.

00:17:45.660 Now, in Kentucky, that may not be a bad comparison day, Brett.

00:17:48.640 I mean, Kentucky's got its own way of dealing things.

00:17:52.660 And, hey, I'm not going to say who endorsed McConnell a couple times,

00:17:57.160 but Rand Paul and Massey seem to be pretty dug in there.

00:18:00.540 Kentucky's got its own way they do things. 0.99

00:18:02.200 They've got a McConnell branch, and they've got a Libertarian.

00:18:05.940 You know, you get in those hills and hollers up there.

00:18:07.880 You've got a lot.

00:18:08.800 Those Scotch-Irish, they were born fighting, right? 1.00

00:18:11.320 They got their own.

00:18:13.600 I know Massey's from, I think, the western part of the state.

00:18:17.760 And Massey, look, he's a different character.

00:18:20.340 We disagree with him on a lot of stuff, but he's clearly smart.

00:18:23.280 He's just sitting there going.

00:18:24.800 And this comes down to Russ Vogt and the guys are saying,

00:18:29.800 are telling the president, and they're accurate in this,

00:18:32.060 there are some structural changes that are taking place on mandatory programs,

00:18:36.620 and that is a good thing.

00:18:38.880 The reality is those cuts, seeing the actual cuts on those programs,

00:18:44.180 don't come to the out years.

00:18:45.440 If you look at the 10-year budget, which I am, and, by the way,

00:18:48.060 it was reiterated today in the Journal, Financial Times, and Bloomberg

00:18:52.360 with different quotes from financiers on Wall Street saying,

00:18:56.680 hey, the only thing people are paying attention to are the first four years.

00:18:59.400 I happen to think, having done a lot of restructuring before,

00:19:03.080 it's the first two years.

00:19:04.160 The benchmark I give is, hey, you're asking for a $4 trillion lift

00:19:09.340 to the debt ceiling.

00:19:10.180 That puts us at 40, and we're going to be at 40.

00:19:12.640 We're going to be beyond 40 because they're asking for it

00:19:16.120 in this reconciliation program to basically the duration of it.

00:19:21.660 It's either the $4 trillion or duration ends a couple weeks

00:19:25.160 after the midterm election in November in 26.

00:19:27.780 My math, which has yet to be wrong,

00:19:32.100 I know the audience is not tired of hearing that,

00:19:34.160 It shows that we're going to blow through the $4 trillion, I don't know, sometime before Labor Day of 26.

00:19:43.020 Now, this is why I keep saying for Hassett, particularly Hassett, the NEC, he can go up there and go on Fox all day long and talk about vote counts.

00:19:52.440 I don't need him talking about vote counts.

00:19:55.060 He's the National Economic Council head, our chief economist, CEA in the first term.

00:20:03.000 We need him coming out and talking about math.

00:20:06.260 He goes out and gives this cheery kind of happy talk on we got the votes, we got the votes.

00:20:10.140 If we got the votes, hey, look, dude, that's fine.

00:20:12.340 But you're not a political guy.

00:20:14.380 Let the political guys talk about the votes.

00:20:16.800 If you got the votes, bro, why is the commander in chief and the president of these United States up on Capitol Hill?

00:20:25.120 And President Trump is on Capitol Hill.

00:20:27.280 He's whipping votes, right?

00:20:29.540 He's not up there for a discussion.

00:20:31.120 He's not going to give his grand theory.

00:20:32.500 He's up there to whip votes.

00:20:33.720 He's to tell guys, hey, look, I want this.

00:20:36.420 This is where I am right now.

00:20:37.980 I hear all the good things you got to say about Medicaid.

00:20:40.460 I'm not interested.

00:20:41.440 I want to get it done.

00:20:42.220 I want to get it done now.

00:20:43.440 Now, I would say you've got to focus on these deficits blowing up because guess what?

00:20:48.820 The bond market right now, the 10-year treasury is over 4.5.

00:20:52.960 The 30 is close to 5.

00:20:55.360 And we'll say, well, Steve, big deal.

00:20:57.020 The people just came out, the economies.

00:20:58.840 I said, I got all that.

00:20:59.700 You've got to look downrange on these things.

00:21:01.540 This is how we've gotten into this jam.

00:21:03.120 And looking downrange is the fact that I don't think the Treasury Department, the games Yellen played and got us into this jam with Biden, with a compliant Senate Republicans led by a guy from Kentucky, Mitch McConnell.

00:21:19.680 Now, that's how we got here, okay?

00:21:22.740 You look at this and you understand that, hey, we may have a problem in the out years.

00:21:31.640 Dave Brett, you're signaling.

00:21:32.680 Just jump into the microphone.

00:21:33.880 What are you so polite for today?

00:21:35.580 I'm Presbyterian.

00:21:36.580 We're decent and good order people.

00:21:38.720 The Presbyterians, you all think this is foreordained anyway or whatever. 0.99

00:21:42.000 You've got the elect guys like you and a bunch of good papers like myself who are going to be burning in the pits of hell.

00:21:46.640 It is all foreordained, just no one knows it.

00:21:49.000 Only God's mind knows it.

00:21:51.180 And there's the theology for the day.

00:21:53.200 The Wall Street Journal, of all folks, come in on the spending issue today and mention the Moody's downgrade and say it's time for the Moody's downgrade.

00:22:01.420 If Denver has the chart, it doesn't really matter.

00:22:03.240 It just shows we're spending way more than we're taking in revenues.

00:22:07.760 It's a long-term problem.

00:22:09.800 Japan is blowing up as of yesterday.

00:22:12.440 The tails on their bond sales for 20 years and 40 years is out of whack.

00:22:17.420 They have a huge dilemma now.

00:22:19.100 Either they print money and get blown out inflation or else they cut rates and then interest rates soar.

00:22:26.020 I don't agree with these guys.

00:22:27.100 But they say Republicans could do something about this but may not have the votes.

00:22:32.960 And then Doge has cut around the edges.

00:22:36.440 Doge was – and I'm not trying to dump on Elon.

00:22:40.120 I'm trying to say exactly what happened here.

00:22:43.560 The political class up there are looking for a fairy – they're looking for Doge ex machina.

00:22:47.720 They're looking for a fairy godmother to come in with a magic wand and saying, we're going to take away from – are you directing now?

00:22:58.720 Yeah.

00:22:59.080 I'm helping you out.

00:23:02.480 We expect a fairy godmother to come in here and wave a wand and waste, fraud, and abuse is going to be $1.000. 1.00

00:23:08.560 Remember I said that's redunculus.

00:23:10.820 Okay?

00:23:11.520 And what happened, they didn't focus on Medicaid.

00:23:14.560 Medicaid's rife with waste, fraud, and abuse.

00:23:16.720 Where is it?

00:23:17.400 It hasn't been defined.

00:23:19.040 Every day you can monitor what the Treasury puts out.

00:23:21.960 We're spending more cash than ever.

00:23:23.800 We're over a trillion dollars in deficit on the CR that we made permanently because the Speaker of the House didn't do the work.

00:23:32.380 Let's be blunt.

00:23:33.220 Didn't do the work that was necessary to get control of this thing.

00:23:36.440 Yeah, and the Wall Street Journal, you just said – they just finished their point and said, well, they may not have the votes for this.

00:23:42.360 Moving on, as if there's nothing to say, the Wall Street Journal has done no homework,

00:23:46.560 no sharpened pencil on all of these financial – they're the financial paper in the U.S.

00:23:51.220 They haven't covered any of these sub-issues at all.

00:23:53.460 Only tax cuts.

00:23:54.540 Every day, all day, the benefits of tax cuts.

00:23:56.960 Great.

00:23:57.320 We get that.

00:23:57.820 There's also a different theory of the case here, which I – and I hope people in the White House and the Treasury – at least – here's the issue.

00:24:12.060 The deficits being this large means the debt gets larger because they get added.

00:24:18.680 Yep.

00:24:18.940 You have to refinance the debt.

00:24:20.480 In the refinancing of the debt, my theory of the case or our theory of the case and many people's theory of the case is that that's the embedded inflation.

00:24:28.900 Right.

00:24:29.200 This is why Yellen didn't go out and finance in 10s and 30s because she realized that would blow up those and make it even more expensive. 1.00

00:24:36.040 Remember, the 10-year Treasury folks controls your financial life.

00:24:40.060 They didn't want to do it.

00:24:40.860 So we did like a Banana Republic did.

00:24:42.540 We do it short term.

00:24:43.880 Scott Besson is trying to get away from that, but it's not away from it yet.

00:24:47.120 Not totally.

00:24:48.460 Right.

00:24:48.760 And so you add to these deficits, inflation is going to be there.

00:24:52.900 So next year, if you look downrange, yes, the tax cut and the supply side, although a lot of the supply side stuff is not permanent, not permanent.

00:25:02.360 And if you had more cuts, maybe you can make them permanent because you want a supply side tax cut, which focuses on work, productivity, capital investment.

00:25:10.880 We're all for that.

00:25:12.360 And who validated the shorts?

00:25:14.420 The other adult that's supposed to be in the room is the Federal Reserve Bank.

00:25:17.960 They accommodated all these moves of $2 trillion deficits without question.

00:25:23.380 Now when Trump wants a little tailwinds coming in on the tariff ripple for a few months while we get the $10 trillion in capital coming into the country and the $2 trillion.

00:25:34.300 You don't think that?

00:25:35.020 You're whining here yesterday at a Greenspan put.

00:25:37.760 Yeah.

00:25:38.160 You want Powell to cut?

00:25:40.420 Do you think a rate cut right now adds to inflation?

00:25:44.240 Mr. Ph.D. doctor.

00:25:46.080 Where did you get that doctorate in economics from?

00:25:48.360 Yeah, the American university.

00:25:50.680 I'm a populist.

00:25:51.700 I was the only conservative at American.

00:25:53.460 Not American university.

00:25:54.740 Yeah, right here.

00:25:55.900 Oh, my God.

00:25:56.480 Right here.

00:25:57.040 Talk about how.

00:25:58.060 After seminary.

00:25:59.180 I wasn't properly trained.

00:26:00.620 You were not ready for that.

00:26:01.700 You're talking about a nest of left wingers.

00:26:03.580 Right.

00:26:03.860 There's nothing worse.

00:26:05.080 You and Matt Boyle.

00:26:06.260 Matt Boyle was up there, I think, for a month, and they threw him out because he was saying, who is this nut?

00:26:11.680 He's this right winger.

00:26:12.540 Yeah, but the important point to underscore here is the role of the Federal Reserve.

00:26:17.440 They are not the mature adult in the room, right?

00:26:20.840 They've been monitoring our market.

00:26:22.280 What are you talking about? 0.98

00:26:22.320 They're crazy.

00:26:23.060 20 years of failure, right? 0.98

00:26:24.920 Yes.

00:26:25.060 I know.

00:26:25.500 20 years.

00:26:26.480 The lords of easy money.

00:26:27.360 Of failure, right?

00:26:28.420 And so.

00:26:28.840 Not failure.

00:26:29.580 Worse.

00:26:30.340 Accommodation to the worst instincts of Wall Street.

00:26:33.620 Right.

00:26:34.120 Right.

00:26:34.420 The worst instincts.

00:26:35.160 I mean, okay.

00:26:36.540 So this is what he's battling.

00:26:37.940 Yes.

00:26:38.320 All of it.

00:26:38.680 I do think that you've got to do a better case about what you were handed, which is a debacle, a total debacle, by an out-of-control Fed, which makes the case about ending the Fed, also about how Yellen ran this like a banana republic.

00:26:53.740 And how the accommodationist Republicans, this was the political class, approved all this spending.

00:26:59.620 And listen, in the fight right now, even cutting out some of the spending is what it's about.

00:27:04.620 The Green New Deal stuff. 0.94

00:27:06.180 Yes.

00:27:06.200 Right.

00:27:06.600 20 percent of it was supposed to be because it's sprinkled into places that are red.

00:27:11.180 And in defense of my easy money ploy, I just, I said, Trump, as the president, right, the CEO, it's, you know, the philosopher king.

00:27:20.600 He's in charge of the whole lot, right?

00:27:23.180 And so my easy money play is he's looking at the bond market revolt, the international revolt, the geopolitics.

00:27:30.880 He's weighing all of it.

00:27:32.200 And if he had a little easier money for a little bit, he might be able to make some bolder moves fiscally.

00:27:38.600 Beryl Howell doesn't agree with you.

00:27:40.920 Last night, she issued, you saw the evening show, he had the vice president, Mike Davis on.

00:27:45.040 That radical over the D.C. court put a hundred page blistering opinion out of how Trump doesn't control anything as president, as chief executive.

00:27:54.780 He said it was unlawful to shut down the Institute of Peace, which is one of the most bogus things that we have.

00:28:00.520 Anyway, short commercial break.

00:28:01.980 The president of the United States is addressing the Republican conference.

00:28:05.800 And if people are going to go to the open mic, you might have a little back and forth.

00:28:10.720 We're going to see.

00:28:11.400 President Trump will step out.

00:28:12.960 He'll come to the sticks.

00:28:13.860 I'm sure we'll get a full a full download from the commander in chief momentarily here in the war room.

00:28:19.120 There's something happening with our farmland here in the United States that isn't getting enough attention.

00:28:32.120 The Chinese have been buying up hundreds of thousands of acres of U.S. farmland. 0.99

00:28:38.020 They're also taking control over critical supply chains, things like fertilizer, animal feed and farming equipment.

00:28:44.760 Why?

00:28:45.580 It's not clear.

00:28:46.620 They're tightening the grip on global food production.

00:28:50.600 That is clear.

00:28:52.460 And if things go south and it could happen quickly, we need to be ready.

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00:31:01.520 Here's your host, Stephen K. Bannon.

00:31:05.520 Okay, so Jake Sherman is putting out some incredible tweets that are coming from the conference.

00:31:10.720 He's getting it straight.

00:31:11.500 Now, folks, you saw President Trump, Patton Johnson on the head.

00:31:17.840 I got it.

00:31:18.500 I got it.

00:31:19.060 We have a different opinion here.

00:31:20.260 The president, you know, he calls the shots.

00:31:22.500 So that's the way it is.

00:31:24.620 I can do my yammering.

00:31:26.580 But on something important, Trump is now, this is a direct quote,

00:31:32.660 Trump is now complaining about the debt limit deal that Kevin McCarthy cut with Biden.

00:31:36.780 Listen, this is the greatest, this is a greatest hit for Trump.

00:31:40.420 Boom.

00:31:41.680 Right there.

00:31:42.460 And that's got us in this jam.

00:31:44.160 We're dealing with, this is a great, so this, we're dealing with a disaster given what he was handed.

00:31:50.060 Now, I hope that Andy Harris and the Hawks, every Hawk should get up there to the mic, address the president,

00:31:57.560 obviously, with respect, because people respect the president, and say, hey, look, here's where our facts differ,

00:32:03.540 and we're doing this for you because this is going to be implemented now or in the summer or in the early fall.

00:32:11.440 The impact is going to come in the summer, early fall, next year before the midterms.

00:32:15.080 But then more importantly, Roland, this is about the direction of the country.

00:32:18.380 I'm going to go back to your thing.

00:32:19.760 Why do you think, because you're thinking like President Trump, he wants a rate cut now.

00:32:24.240 Mm-hmm.

00:32:24.960 Why?

00:32:26.640 Well, if you just read the papers today, I mean, there's—

00:32:29.520 I've got commodity prices falling.

00:32:31.040 Yeah.

00:32:31.440 Inflation looks like it's under control right now.

00:32:34.480 It's under control.

00:32:35.000 There's jobs.

00:32:35.400 Because of energy.

00:32:36.100 There's jobs concerns.

00:32:37.900 There's concerns about the kids coming out of college finding jobs.

00:32:40.600 Well, most of that's AI.

00:32:42.420 Yeah.

00:32:42.940 There's a little—

00:32:44.240 So why do you want to cut rates?

00:32:45.760 Well, he—

00:32:46.720 Step up to it, man.

00:32:47.840 You're—

00:32:48.520 No, you just look—

00:32:49.840 I want—

00:32:50.140 Trump's going to say, hey, this war room thing, he's been calling Rob Sig and saying, hey,

00:32:53.440 I think Brad's doing a better job than Bannon.

00:32:55.260 Bannon's getting a little rusty here.

00:32:56.980 Brad's speaking the gospel.

00:32:58.400 I do want—

00:32:59.740 The lords of easy money.

00:33:00.760 I want Trump's tariff strategy to be very effective.

00:33:04.560 I don't want him to back off of that strategy.

00:33:06.920 I agree.

00:33:07.520 Because of fiscal weakness or something, right?

00:33:09.860 Okay.

00:33:10.200 Just give him some latitude to execute.

00:33:12.340 That is your whole thing about—

00:33:13.100 You've got to look at the whole geopolitical and commercial thing.

00:33:16.240 And you want a little runway now. 0.91

00:33:17.820 He's in charge of the whole thing.

00:33:18.800 And you risk a little inflation.

00:33:20.180 I don't think it's a risk right now.

00:33:24.040 The economy is not at full speed.

00:33:26.420 We've been handed a low productivity, low growth.

00:33:29.540 The only reason it's growing at all is because of the government spending.

00:33:33.120 And so if we do a little trimming or signal, we're going to do some trimming, that's going

00:33:37.780 to send a forward signal that economic growth may not continue as strong either, right?

00:33:43.140 If the Congress gets to it, right, if they do any cutting, which I'm not seeing right

00:33:48.880 now, right?

00:33:49.420 And the grandstander thing against Andy Harris is the least grandstanding guy.

00:33:55.340 Some of these guys are just principled.

00:33:57.480 Massey had a deal back with McCarthy for if we didn't—if they didn't execute and go

00:34:03.380 through on all the process issues and get the budget cuts going and do an entire budget,

00:34:07.480 write 12 bills, if you didn't do that, Massey had a promise from leadership back then of

00:34:12.500 1% across the board cuts.

00:34:14.800 Oops, that promise went by the wayside, right?

00:34:17.260 So these guys, and I was with them, they're not grandstanding for no reason, right?

00:34:22.400 And I've always told the people I would put in place my promises to my people, to my constituents

00:34:27.560 ahead of time.

00:34:28.560 And I don't care what happens in Congress, right?

00:34:31.360 I voted against the budget.

00:34:33.080 My budget chairman and chairwoman got mad at me multiple times.

00:34:36.260 We're good friends, still are.

00:34:37.960 But they got ticked because by the rules up there, you're just supposed to—if you're

00:34:41.540 on the budget committee, you're supposed to vote for the budget, period.

00:34:44.300 It's unquestioned.

00:34:45.620 You almost have to make an agreement ahead of time that you will vote for the budget

00:34:49.020 if you're on the budget committee.

00:34:50.480 That's how messed up the system is.

00:34:52.460 And we've got to break that.

00:34:54.080 So it's in the process of being broken.

00:34:55.840 And so, yeah, I don't want the Fed runaway printing money, but we're in a doozy.

00:35:02.160 It's just like Japan right now. 1.00

00:35:03.260 They're in a no-win position.

00:35:05.080 We're kind of in a no-win position right now in the immediate short run until the Trump

00:35:08.640 agenda kicks in, then we're going to break free.

00:35:10.900 You're saying if this budget is passed, or the big reconciliation bill with the tax cuts,

00:35:17.320 do you see—the CBO says 30-year growth is 2 percent, and that's a point.

00:35:21.920 Do you see—the only way to get out of here is, if you're not going to raise taxes on

00:35:26.880 the wealthy, is that you have to get the denominator up.

00:35:29.480 The growth rate has to increase.

00:35:31.260 Do you see—you're Mr. Productivity—in what you're talking about today, without these

00:35:35.700 cuts to Medicaid and the rest of this, do you see, at these levels of deficits, getting

00:35:40.700 above a 2 percent growth rate?

00:35:42.020 Yeah.

00:35:42.640 And I'm not one of these pro-growth guys.

00:35:44.580 I am not saying we're going to grow our way out of the debt problem.

00:35:47.680 That is not true.

00:35:48.780 But we will achieve what we achieved last time.

00:35:51.400 We're going to get to 3 percent GDP growth, which is a huge difference, right?

00:35:55.960 If you track economic growth, the difference between a 2 percent to 3 percent growth rate

00:36:01.200 is a phenomenal achievement.

00:36:03.980 Wow.

00:36:04.380 Stunning.

00:36:04.840 Hang on.

00:36:05.500 Yep.

00:36:06.060 House Freedom Caucus.

00:36:06.920 This is coming from Michael Schnell.

00:36:09.400 House Freedom Caucus.

00:36:10.520 Andy Harris, after Trump meeting—so Trump must be wrapped up and maybe coming out.

00:36:15.340 He's saying, after Trump meeting, the president, I don't think, convinced enough people that

00:36:19.300 the bill is adequate the way it is.

00:36:21.640 Wow.

00:36:21.740 That is a bombshell.

00:36:22.800 Wow.

00:36:23.260 Andy Harris came on here yesterday, dropped a bombshell, and told the—I mean, this is

00:36:26.740 why the president came up today, is because of that.

00:36:29.100 Andy Harris putting a shot across everybody's bow, saying, you're not even close to the votes.

00:36:32.760 Probably got 30, 35 no's.

00:36:35.700 Harris is right now.

00:36:36.880 Also, Laura Weiss, I'm going to read her tweet.

00:36:41.960 House Freedom Caucus Chair Harris, unmoved, leaving conference meeting with Trump.

00:36:46.100 He's still a no.

00:36:47.740 Says there's still waste, fraud, and abuse in Medicaid.

00:36:50.120 It mentions provider taxes.

00:36:51.560 We're still a long ways away, but we can get there, maybe not by tomorrow.

00:36:55.960 That's what Harris has been saying.

00:36:57.220 He says he doesn't think it's Wednesday, but if they work through this—

00:36:59.880 And they're constructive.

00:37:01.080 They want to get to yes.

00:37:02.520 I've got a problem.

00:37:03.520 It's not with Andy Harris.

00:37:04.540 Here's what I've got a problem with.

00:37:05.620 And, folks, you know, I'm going to take a degree for this, but that's part of the business.

00:37:09.700 I don't mind that.

00:37:13.100 Johnson should not put the president of the United States in this situation.

00:37:17.080 The president of the United States should not have to come to Capitol Hill in an extraordinary—

00:37:21.620 for the president to come up and talk about budget and math—

00:37:24.260 Unheard of.

00:37:24.920 Unheard of.

00:37:25.420 It's unheard of.

00:37:26.080 For him to come up today and have to—is he not whipping votes?

00:37:31.200 He's not doing Tom Emmer's job?

00:37:33.040 Yeah.

00:37:33.200 And because Johnson and these guys—Johnson in these rooms tells everybody what they want

00:37:37.980 to hear.

00:37:38.900 That's why people can't stand him, because they don't know what's real and what's not real.

00:37:42.840 He tells assault guys one thing.

00:37:44.640 He tells the Medicaid guys another thing.

00:37:46.580 He tells the F-map, we're going to get the F-map, then we're not going to do it.

00:37:49.420 So nobody knows where they are.

00:37:51.200 The president, people believe, because the president's coming out and throwing that out.

00:37:53.640 So the president comes up right now to basically give his say-so and whip votes, and you're

00:37:58.820 hearing guys saying, hey, we respect the president, but we're not there.

00:38:02.760 That should not happen.

00:38:04.240 If he does come up, it should be—he makes his point.

00:38:07.700 People say, yeah, boom, and then it's a group hug.

00:38:10.300 Yeah.

00:38:10.640 That's not happening.

00:38:12.240 Yeah.

00:38:12.800 That's not—that's not—that's a Johnson problem.

00:38:16.240 That's not a Trump problem.

00:38:17.360 It's not a Trump White House problem.

00:38:19.060 Yeah.

00:38:19.200 That's a Johnson problem. 0.97

00:38:20.740 And I hate to say it.

00:38:23.940 Trump's been clear on the assault things.

00:38:26.500 He made a couple comments.

00:38:27.800 I don't like it, and they're not going to get it.

00:38:29.260 Well, he's from New York State.

00:38:30.340 He told Lawler—he just told Lawler, and they just tweeted out.

00:38:33.140 He says, hey, I know your district better than you do.

00:38:35.300 Right, right.

00:38:36.040 And so he knows it.

00:38:37.240 But go read the MAGA base or the American people base behind what's going on on the budget

00:38:43.600 right now.

00:38:44.220 And President Trump knows that.

00:38:46.060 He knows the people, and he knows the job is not done yet, right?

00:38:50.340 The people and the comments on this budget, if you're not going to cut now, this is the

00:38:55.860 opportunity.

00:38:56.420 And we are doing some cuts, right?

00:38:58.360 There's some cuts going on.

00:39:00.180 But to get to the economic growth and to get the Trump golden age, right, to get to the

00:39:05.280 golden age, it's a bigger move.

00:39:07.060 To put it in a broader perspective, he does understand that the Democrats, because they

00:39:10.560 love government, they have no problem with the taxes not being extended, the tax cuts

00:39:16.800 being extended.

00:39:17.540 They have no problem at all.

00:39:18.820 The tax cuts run out essentially December 31st this year.

00:39:22.660 If it's not done by then, you've got to pass a whole new thing.

00:39:26.200 So that part of it's got to get done.

00:39:28.360 There's no doubt.

00:39:28.980 To burden the middle and working class with these higher tax rates right now would be brutal.

00:39:33.580 And the Democrats—and that's why President Trump is saying, hey, we only got a handful

00:39:36.760 of votes to do this, we've got to get it done.

00:39:38.740 And we're abstracting from the Democrats.

00:39:41.160 We can't forget, right, Lawler and the New Yorkers, and I like all these guys.

00:39:45.440 They got a tough deal.

00:39:46.120 They got tough stuff because who are they dealing with?

00:39:48.340 They're dealing with the Democrats.

00:39:49.460 All political views of my own, but they're dealing with Santa Claus, right?

00:39:52.460 They just—never-ending government spending.

00:39:56.740 They believe in the new monetary policy where debt doesn't even matter.

00:40:00.800 The leftists actually believe this stuff.

00:40:02.560 They don't know what economic growth is.

00:40:04.180 They don't understand any of these fundamentals.

00:40:05.820 So that's who we're competing against.

00:40:08.140 And the mainstream media, we get no relief.

00:40:11.180 Where's the Democrat proposal on energy, on economic growth, on any of it, right?

00:40:16.380 On the big corruption, they're silent.

00:40:19.640 A couple of the people have actually left the conference.

00:40:22.420 The president has not.

00:40:23.860 People have left, but the president's still in there.

00:40:26.480 Are still dealing with Johnson.

00:40:28.220 So as soon as the president comes out, I'm sure he'll go to the sticks and give his play-by-play.

00:40:33.100 But also he had a couple of shots at, hey, where's the action on Biden?

00:40:38.880 Because we're going to have—if we have time and we can do it, we're going to have Jonathan Allen from NBC News who wrote the book.

00:40:43.840 I think it's Fight, which is amazing about the 24 campaign.

00:40:47.040 And they were very close to the Biden situation.

00:40:49.020 So we're going to get him on.

00:40:51.620 And we've got to get to the bottom.

00:40:52.800 I think this—I think it's going to be a massive investigation.

00:40:55.060 The president said last night he had the Kennedy Center boards and certain cultural people at the White House for dinner.

00:41:02.880 Man, he went off.

00:41:04.480 He said, hey, you know, I—they stole the 2020 election.

00:41:09.460 And I came back to—you know, you can't repeat this in polite company in the morning, but he—I mean, he was on fire.

00:41:16.180 Exactly why he came back.

00:41:17.480 Exactly why he fought back.

00:41:18.720 Exactly why the presidency—and my point to him is that, hey, this Biden thing is a crisis of a constitutional republic.

00:41:28.040 You can't have a guy that covered up two things.

00:41:29.960 They covered up—obviously he was not up to be commander-in-chief.

00:41:32.960 And the Praetorian Guard got him in there so he was malleable and they could run the deal.

00:41:38.160 Then they hid that.

00:41:38.980 Then this cancer thing is just not—and I think we've got a doctor.

00:41:41.840 We don't get him on today.

00:41:42.960 This morning we're going to get him on at 6 o'clock.

00:41:44.800 He's going to walk through how it's just essentially mathematically impossible for him to have.

00:41:49.020 And there's enough news clips and commentary for our side and the mainstream if they want to get at it.

00:41:54.680 But Biden has said on the record, on film, no, I didn't do that.

00:41:59.280 I didn't do that, man. 1.00

00:42:00.220 I mean, implying what Trump just said, that would be the stupidest thing ever. 0.99

00:42:03.640 Why would I ever sign on to that? 0.99

00:42:05.620 And then it turns out he did sign on to that.

00:42:08.360 And you can—I see the Obama fingerprints all over, right?

00:42:13.500 The Susan Rice's, the radical leftists, and Obama always said, I wanted another term.

00:42:19.520 If there was somebody else who could execute my will, I want another term.

00:42:23.320 And he got his third term.

00:42:24.920 Let me get some more tweets coming out of this thing.

00:42:27.600 And, man, this was kind of a Donny Burke.

00:42:29.000 As Johnson—this is a quote from Sarah Faris on her tweet.

00:42:32.660 As Johnson aims for a vote tomorrow, Trump is cracking heads on salt, Medicaid, et cetera, to get ours to accept current bill.

00:42:39.780 But GOP hardliners aren't sold.

00:42:41.880 Still want changes.

00:42:42.740 Next test will be tonight, rules set for a 1 a.m. vote.

00:42:48.060 Wow.

00:42:48.700 A 1 a.m. vote.

00:42:49.700 Yeah.

00:42:50.660 On the rules committee, Chip Roy very opposed to this.

00:42:52.640 Another tweet.

00:42:53.200 Representing Andy Biggs, the great Andy Biggs, future governor of Colorado, says GOP needs to have more meetings today.

00:43:00.840 Says the groups need to talk it out and listen to his final line.

00:43:04.880 And this is the great Andy Biggs.

00:43:06.220 As good a guy he's going to meet.

00:43:07.920 And actually they need to read the actual bill.

00:43:10.620 Right.

00:43:10.900 Good.

00:43:11.360 Good.

00:43:12.060 I'm telling you, folks, you got—this is what upsets me about the president having to go on up and do this.

00:43:19.820 Is that there are guys there having read the bill.

00:43:23.440 Right.

00:43:23.820 Andy Biggs calling people out.

00:43:25.360 Yeah.

00:43:25.600 Andy Biggs saying, hey, we got to get in the room and do some real work.

00:43:27.940 Now, this should have been done months ago.

00:43:31.440 The Medicaid—the president of the United States shouldn't be in a position to come up and say, look, I'm all for waste, for an abuse.

00:43:36.200 And you had the Doge guys running around everywhere but into the details of Medicaid.

00:43:40.940 Why?

00:43:42.100 Let's be blunt.

00:43:43.720 They didn't want to take on big pharma.

00:43:45.620 They didn't want to take on big medicine.

00:43:47.480 They didn't want to take on the defense contractors.

00:43:49.640 They didn't want to take on big tech.

00:43:51.320 That's who runs the city.

00:43:52.420 I was telling somebody this morning, I said about the first term, since 2008, but even since 2017, this city has changed from when you were here.

00:44:02.640 Yeah.

00:44:02.800 The concentration of power and money.

00:44:06.120 Yeah.

00:44:06.420 Massive.

00:44:07.080 Into these industries.

00:44:09.380 Defense industry.

00:44:10.980 Right?

00:44:11.180 That's why you got a trillion dollar bill.

00:44:12.820 Big pharma.

00:44:13.880 That's what Bobby Kennedy's fighting over at HHS.

00:44:17.820 Big agriculture.

00:44:18.740 Big ag.

00:44:19.640 Okay?

00:44:20.440 Big tech.

00:44:22.420 Big medicine.

00:44:23.960 These are monster.

00:44:25.620 We've got a system now like the Chinese Communist Party. 0.94

00:44:29.020 They didn't follow us to a democracy.

00:44:32.060 We have a super powerful, big centralized government.

00:44:37.540 And because of mergers and all this antitrust that wasn't around for all the time under Biden, you've had concentration of wealth and power into these oligarchs combined with the capital markets of Wall Street in the connective linkage of these big law firms.

00:44:53.560 And that is the old traditional definition of fascism.

00:44:58.200 Yeah, exactly.

00:44:58.800 That is the old traditional definition of fascism.

00:45:02.820 And we don't want any part of it.

00:45:04.460 Fascism is not the MAGA, the deplorables that are fighting this.

00:45:09.240 And the Gail Slater's.

00:45:10.560 Americans.

00:45:10.960 Americans fighting this.

00:45:12.800 Right?

00:45:13.340 That's what's so hard.

00:45:15.740 And the president's being ill-served by Johnson basically saying, you've got to come up to Capitol Hill and help me.

00:45:21.600 That's his job.

00:45:22.960 His job is to, first off, let's be blunt.

00:45:26.160 His job is, first off, to make sure everybody reads the frickin' bill when Andy Biggs, who's as good a man as you're going to have, has to tweet out, hey, we need more meetings.

00:45:34.820 We need to get in a room.

00:45:35.620 We need to confront each other.

00:45:37.540 Argue this out on facts.

00:45:38.700 And by the way, why don't we start with the actually read the frickin' bill?

00:45:41.760 Okay?

00:45:42.060 The actual bill of what it actually says.

00:45:45.300 And so this is why, you know, the president's up there, and I'm sure he's not going to be in a foul mood.

00:45:50.260 Yeah.

00:45:50.660 Okay?

00:45:51.260 He's not expecting to leave there and not have a deal.

00:45:54.540 And guess who knows what is in the bill?

00:45:56.200 He should be in a foul mood.

00:45:57.100 The war room posse knows what's in the bill.

00:45:59.900 And the Congress, for the first time, is getting an earful.

00:46:02.320 They're getting educated by the people.

00:46:04.340 The people are educating the elites.

00:46:07.180 And so he says, read the bill.

00:46:09.540 And usually, when I was in there still, you know, it was corrupt, and I was learning.

00:46:14.600 I was green and learning.

00:46:16.680 But they would put the full hammer on you and then do precisely this next move.

00:46:21.920 We're going to be out of here by Memorial Day.

00:46:23.540 We need to vote on this in two days.

00:46:25.280 And all the pressure in the world will come down on you.

00:46:28.180 But now, due to the pressure of the people, the people have lit up the Congress, right?

00:46:34.560 The congressmen, the women, the Senate's next. 0.99

00:46:37.500 The Senate's being awfully quiet.

00:46:39.200 I don't see any profiles in courage coming out of the Senate right now, with some exceptions.

00:46:44.960 Hawley's been out there talking.

00:46:46.260 Ron Johnson out of Wisconsin has done a super job.

00:46:51.160 But I don't hear many voices arguing for just basic sanity.

00:46:55.460 The spending cannot continue.

00:46:57.520 Everybody said the Wall Street Journal lead op-ed today, and then they don't follow through on their own logic.

00:47:03.580 There's no push.

00:47:04.720 Harris is saying, we're still a long ways away, but we can get there.

00:47:08.700 Maybe not by tomorrow, but we can get there.

00:47:10.540 We can get there.

00:47:10.800 That's correct.

00:47:11.880 And I think that if you get the facts, you get in there, you can get there.

00:47:15.040 Now, President Trump, God, I love this.

00:47:18.760 Julie Grace Brufke over, I think she's at the Hill still.

00:47:22.940 Maybe at Politico now.

00:47:24.800 Julie Grace, pretty accurate.

00:47:26.220 She's got Trump going full Patrick Henry.

00:47:28.840 Trump in the meeting, per a source, give me freedom or give me death.

00:47:33.440 Wow, sounds familiar.

00:47:34.540 And it'll be death for all if we don't pass this bill.

00:47:37.660 And Dems get the largest tax increase in U.S. surgery.

00:47:40.140 Boom, that lays it out right there.

00:47:42.380 He's right about that.

00:47:43.860 The bill's going to get passed.

00:47:45.280 It's just depending on, it's going to get passed.

00:47:47.020 It just depends on if you get these additional cuts.

00:47:50.820 Also, GOP update, spirits are high.

00:47:54.440 It seems POTUS has started to move the dial for fiscal hardliners.

00:47:57.680 Because Burchett is now maybe.

00:47:59.740 Higgins is still no, but thinks consensus is more possible.

00:48:03.040 Waiting to talk with assaulters.

00:48:04.480 Consensus is possible.

00:48:06.840 You're going to get something here.

00:48:08.680 But I think people are going to get their shot at saying, hey, here's what the deficits are.

00:48:12.520 So historic day, President still has not come out.

00:48:14.780 As soon as he goes to the sticks, we're going to throw out all of our other things that we have on this broadcast today to get this.

00:48:20.380 Because this is a historic moment.

00:48:21.500 It's what kind of the war room, the money, capital markets.

00:48:25.500 Now more than ever, I think it behooves you two things.

00:48:29.940 Take your phone out.

00:48:31.560 Text Bannon, B-A-N-N-O-N, 989898.

00:48:35.420 The ultimate guide to investing in gold and precious metals in the age of Trump.

00:48:41.600 I know we say era, but it's actually the age of Trump.

00:48:44.720 More importantly, make contact with Philip Patrick and the team.

00:48:48.200 Find out where gold's been a hedge for 5,000 years.

00:48:50.880 Gold's been kind of on the terror the last couple of days.

00:48:52.880 It's not the price, it's the price of the president.

00:48:55.080 We're going to go right to the president of the United States on Capitol Hill.

00:48:58.380 You said that you didn't adequately convince enough people to vote for the bill.

00:49:02.580 The House Freedom Talk was there.

00:49:03.220 You mean after this speech?

00:49:04.460 After this speech.

00:49:05.200 Well, what do we see at the notice?

00:49:07.380 I think it was a great talk.

00:49:09.720 It was in a speech.

00:49:10.520 We talked about things.

00:49:12.080 Who do you work for?

00:49:13.340 Notice.

00:49:14.120 Who?

00:49:14.560 Notice.

00:49:15.440 I don't even know what the hell that is.

00:49:17.620 You're going to get yourself a real deal.

00:49:19.800 Mr. President, let me tell you, let me tell you, I think we have unbelievable unity.

00:49:26.960 I think we're going to get everything we want, and I think we're going to have a great

00:49:31.260 victory, and this man has done a great job, and I think this was a tremendous session.

00:49:36.100 You may want to say something.

00:49:37.140 Yeah, it was a great meeting.

00:49:38.480 The party is unified.

00:49:40.200 The House Republican Conference is excited.

00:49:42.360 Multiple standing ovations.

00:49:43.640 They love this president.

00:49:44.680 The people back home love what he's doing.

00:49:46.040 And it's historic, and everybody understands the scope and the meaning of this.

00:49:49.820 If we do not accomplish this mission, every one of you, all the American people, are going

00:49:53.700 to have the highest tax increase that you've ever had.

00:49:56.200 And among the debt ceiling clip that's approaching and all the other problems, this is the bill

00:50:00.660 to do it.

00:50:01.360 I think we're going to get it done, Mr. President.

00:50:02.700 The Democrats want to raise your taxes.

00:50:04.660 If this doesn't work, if this doesn't get the numbers that the Republicans want, and

00:50:09.320 I think it does.

00:50:10.060 I think it's all Republican votes.

00:50:12.200 The Democrats are going to be raising your taxes by 68 percent, and they will not do the

00:50:18.280 60 ... We're going to have an 85 percent cut in drug costs.

00:50:21.780 Eighty-five percent cut in drug costs.

00:50:26.420 The Democrats, the drug prices are going to go up.

00:50:29.360 I can't imagine a Democrat not voting for this.

00:50:32.180 I think the Democrats, if they don't vote for it, that means they're voting for an increase

00:50:35.920 in drug prices.

00:50:37.240 Think of that.

00:50:38.040 Versus an 80 to an 85, maybe 75, but could be an 85 percent cut in drug costs.

00:50:44.580 Okay.

00:50:45.000 Mr. President, will you need to reach out to individual members?

00:50:49.660 Will you need to make a pitch to individual members?

00:50:51.300 I don't think so.

00:50:52.140 No, that's what I did today.

00:50:54.360 That's really what we did today.

00:50:55.720 I think it was a really great ... That was a meeting of love.

00:50:58.900 Let me tell you, that was love in that room.

00:51:00.620 There was no shouting ... I think it was a meeting of love.

00:51:04.360 There were a couple of things that we talked about specifically, where some people felt

00:51:08.360 a little bit one way or the other, not a big deal, and I covered them.

00:51:11.980 It wasn't so much a speech, I covered certain points, and I think there was ... I'd be very

00:51:17.080 surprised ...

00:51:17.360 You told them you were using the right to shut up for the class of your patients.

00:51:19.360 No, I didn't tell them.

00:51:20.360 Who told you I said I'm losing the right to shut up for the class of your patients?

00:51:21.360 No, I didn't tell them.

00:51:22.360 Who told you I said I'm losing the right to shut up for the class of your patients?

00:51:23.360 It's a lie.

00:51:24.360 Wait a minute.

00:51:25.360 Wait a minute.

00:51:26.360 Who told you that?

00:51:27.360 You heard from people inside the room.

00:51:28.360 Is that not true?

00:51:29.360 I never used the term.

00:51:30.360 I didn't say losing ... I didn't even talk about it.

00:51:32.360 In fact, it's the opposite.

00:51:33.360 I think we're going to get into that.

00:51:34.360 I'm not losing patients.

00:51:35.360 We're ahead of schedule.

00:51:36.360 Anybody that told you that is a liar.

00:51:40.360 Wait a minute.

00:51:41.360 Wait a minute.

00:51:42.360 Wait a minute.

00:51:43.360 I never mentioned the word losing patients, because I'm not losing patients.

00:51:46.360 We're ahead of ...

00:51:47.360 That's what I asked you.

00:51:48.360 I want to get ...

00:51:49.360 Why don't you go back to your source and tell them they're liars, if the source even

00:51:52.360 exists?

00:51:53.360 Mr. President.

00:51:54.360 The President passes the House.

00:51:55.360 Yes.

00:51:56.360 The Senators are already talking about making a number of changes.

00:51:58.360 Sure.

00:51:59.360 Always happens.

00:52:00.360 Is that okay?

00:52:01.360 Yeah.

00:52:02.360 Do you want them to swallow the pistils?

00:52:03.360 Yeah.

00:52:04.360 In some cases, they have things that I like even better.

00:52:05.360 No.

00:52:06.360 It always happens.

00:52:07.360 There'll be some ... There'll be some changes.

00:52:08.360 John Thune and Mike have been very closely aligned on this.

00:52:13.360 They've been moving it up together.

00:52:14.360 Mr. President, you said ...

00:52:16.360 Apparently you said, don't act with Medicaid, apparently, you did say, in the room.

00:52:21.360 There is some concern among some Republicans, including Senator Josh Hawley, that this could

00:52:26.360 impact benefits, and that it could be announced to avoid hidden tax on the ...

00:52:30.360 I didn't say.

00:52:31.360 Here's what I said.

00:52:32.360 Here's what I said.

00:52:33.360 Here's what I said.

00:52:34.360 What do you want to say?

00:52:35.360 Mr. President, you said, waste, fraud, and abuse for Medicaid.

00:52:40.360 If you find waste or fraud or abuse, we want to strengthen Medicaid.

00:52:46.360 We want to strengthen Medicare.

00:52:48.360 Waste, fraud, and abuse.

00:52:50.360 The Democrats will let illegals be on. 1.00

00:52:53.360 They'll destroy it. 1.00

00:52:54.360 They will be destroyed. 0.96

00:52:55.360 They want to have illegal immigrants be on. 1.00

00:52:58.360 And if you do that, because that's not ... It wasn't designed for that.

00:53:02.360 Waste, fraud, and abuse.

00:53:03.360 Can you guarantee that your voters who support the new election, particularly working-class

00:53:07.360 voters, will not lose health insurance under this bill?

00:53:10.360 Oh, they won't lose health insurance.

00:53:12.360 Not only that, remember, I'm cutting drug prices by 85 percent.

00:53:18.360 And right now, I'm saving it.

00:53:21.360 I'm saving the whole thing, because I did something that nobody was willing to do.

00:53:25.360 Other countries pay a tiny fraction what we do.

00:53:29.360 And I instituted favorite nations.

00:53:32.360 We're now going to pay the lowest in the world.

00:53:34.360 We're going to be the equivalent of the lowest country in the world.

00:53:38.360 People go to London.

00:53:40.360 They go to Canada.

00:53:41.360 They go to other countries, many other countries, because they want to buy their pharmaceutical products,

00:53:47.360 they're drugs, at a fraction of the cost.

00:53:50.360 Now, we're going to have the lowest cost anywhere in the world.

00:53:53.360 And nobody else would do that but me.

00:53:55.360 And that might be an election by itself.

00:53:58.360 It might be election-winning.

00:53:59.360 Now, when you add that in, when you put that into Medicaid and Medicare,

00:54:03.360 we've just strengthened Medicare and Medicaid.

00:54:06.360 And the Democrats won't do that.

00:54:07.360 You know why?

00:54:08.360 Because they're taken care of by the drug companies.

00:54:11.360 And the ones that are taken care of are hard-line.

00:54:14.360 Some Republicans get money from drug companies.

00:54:17.360 And that's okay, because they're okay with it.

00:54:20.360 I talked about it.

00:54:21.360 The drug companies take care of everybody.

00:54:23.360 It's the biggest lobby, most powerful lobby in the world.

00:54:26.360 There's no lobby like that.

00:54:28.360 But the Republicans are okay with it.

00:54:30.360 Not only okay with it, they love it.

00:54:32.360 It was time.

00:54:33.360 So we're going to cut drug prices by from 75 to 85.

00:54:38.360 In some cases, even more than that.

00:54:40.360 You know, I was telling the story that, and some of you were at that news conference.

00:54:43.360 I gave a news conference where I was the first one in 18 years to cut drug costs for the year.

00:54:50.360 And they were like a quarter of a point to half a point less.

00:54:53.360 And I was very proud of that.

00:54:54.360 Now I'm cutting them by 80, 85 percent because I stopped the scam.

00:55:01.360 This was a scam between the middlemen and the drug companies.

00:55:05.360 This was a giant scam.

00:55:07.360 And by the way, and other countries, because other countries fought for this.

00:55:11.360 This was a giant scam, and we're not going to have it.

00:55:14.360 So remember this.

00:55:15.360 Go back and tell your people, if you'd like to, that the Republican Party is cutting the cost of drugs by as much as 85 percent.

00:55:24.360 Not 8 percent.

00:55:26.360 Not 5 percent.

00:55:27.360 Not 1 percent.

00:55:28.360 85 percent.

00:55:29.360 And you're going to have the lowest drug prices anywhere in the world.

00:55:33.360 Because I'm doing favored nations.

00:55:35.360 And it's all done.

00:55:37.360 I signed it.

00:55:38.360 And the Democrats will unsign it.

00:55:40.360 And the drug prices are going to go up.

00:55:42.360 And I think on that issue alone, you can't lose an election.

00:55:45.360 Mr. President, I know you're going to have a place for some president to say that your D.L.J.

00:55:50.360 is weaponizing with the arrest of a congresswoman, a Democratic congresswoman.

00:55:53.360 Oh, give me a break. 0.60

00:55:54.360 Did you see her?

00:55:55.360 She was out of control.

00:55:56.360 You know, those days are over.

00:55:58.360 The days are woke.

00:55:59.360 The days are woke.

00:56:00.360 No, I didn't.

00:56:01.360 The days of woke are over.

00:56:02.360 That woman, I don't, I have no idea who she is. 0.94

00:56:05.360 That woman was out of control. 1.00

00:56:07.360 She was shoving federal agents.

00:56:09.360 She was out of control. 1.00

00:56:10.360 The days of that crap are over in this country. 0.99

00:56:13.360 We're going to have law and order. 0.98

00:56:15.360 Mr. President, thank you very much.

00:56:16.360 You campaigned on lowering the price of groceries.

00:56:18.360 How will you justify cutting food assistance in this bill?

00:56:22.360 Let me just tell you, the cut is going to give everybody much more food,

00:56:25.360 because prices are coming way down.

00:56:27.360 Groceries are down.

00:56:28.360 Eggs.

00:56:29.360 You told me about eggs.

00:56:30.360 You asked me a question about eggs my first week.

00:56:32.360 You said, eggs.

00:56:33.360 I said, I just got here.

00:56:34.360 Tell me about eggs.

00:56:35.360 And it was going through the roof.

00:56:36.360 You know that eggs now are way down.

00:56:38.360 Everybody is buying eggs.

00:56:40.360 Groceries down.

00:56:41.360 Energy is down.

00:56:42.360 Gasoline is now buying — they're buying gasoline now for $1.99.

00:56:47.360 When I — if you look back, you'll see $3.50, $4.00.

00:56:52.360 This country — we're going to lose this country.

00:56:54.360 Our country now is respected all over the world.

00:56:57.360 All over the world we're respected.

00:56:58.360 We were a laughing stock.

00:57:00.360 The entire world was a — we were a laughing stock.

00:57:03.360 I went to the Middle East, and those rulers of those three countries are very powerful people,

00:57:08.360 very big people, very rich people.

00:57:10.360 They respect our country again.

00:57:12.360 China was going to take them over. 1.00

00:57:13.360 You know, China was going to get all — they were going to get into the — if you look, 0.90

00:57:18.360 Saudi Arabia, you take a — take a little look at what was happening with Qatar, UAE.

00:57:25.360 Great people.

00:57:26.360 Unbelievable people.

00:57:27.360 Unbelievable leaders.

00:57:28.360 But they were abandoned by this country.

00:57:30.360 And they're not going to China anymore.

00:57:34.360 They love us.

00:57:35.360 We love them.

00:57:36.360 We're going to take care of them.

00:57:37.360 And they're going to take care of us.

00:57:38.360 We came back with $5.1 trillion — trillion.

00:57:42.360 Every other president would have come back having spent $5.1 trillion, as usual.

00:57:47.360 And remember this.

00:57:49.360 We were losing $5 billion a day under the past administration.

00:57:56.360 I have to be a little careful the way I talk, because there's a lot of anger about that administration.

00:58:02.360 And by the way, you ought to — the real question, who ran the auto pen?

00:58:06.360 Okay?

00:58:07.360 Who ran the auto pen?

00:58:08.360 Because the things that were signed were signed illegally, in my opinion.

00:58:13.360 I think we've just proved that.

00:58:15.360 But our country is respected again.

00:58:17.360 All over the world were respected.

00:58:18.360 We were laughed at seven months ago.

00:58:20.360 Then you had November 5th, and our country is respected again.

00:58:23.360 Thank you very much.

00:58:24.360 That's the president of the United States right there.

00:58:42.360 Tons of information that took a number of shots, laid out his case.

00:58:47.360 Upbeat, said it's going to happen.

00:58:50.360 House Freedom Caucus is eventually going to agree to maybe get some additional cuts.

00:58:54.360 But we'll get there.

00:58:56.360 And the Salk guys look like they got blown up.

00:58:59.360 We've got Congressman Andy Clyde, who was in the room.

00:59:02.360 Congressman Clyde, you've been pretty adamant about you need more cuts.

00:59:06.360 Give us your perspective this morning after this extraordinary visit by the president of the United States to Capitol Hill to talk to the conference.

00:59:15.360 Well, Steve, it's great to be on with you.

00:59:19.360 I'll tell you that it's always wonderful to hear the president.

00:59:22.360 We love the president.

00:59:24.360 We want to move his agenda forward.

00:59:27.360 And so listening to his perspective this morning was very, very important for us.

00:59:33.360 You know, we have got to get this particular bill right.

00:59:37.360 We're going to move forward, but it has to be done in a fiscally responsible way, in a way that reduces the deficits and doesn't increase the deficits.

00:59:48.360 And also, I would love to see a Second Amendment win in this bill, because I don't see any other way that we take back our constitutional rights other than through reconciliation, which is only a Republican—it's a partisan bill and requires only Republican votes.

01:00:06.360 There's no Democrat—especially no seven Democrat senators—that are going to ever vote to give us back our constitutional rights.

01:00:15.360 So where do you stand right now?

01:00:20.360 How do you—put us in the room.

01:00:21.360 How was it?

01:00:22.360 Did the president speak?

01:00:23.360 What did he have to say?

01:00:24.360 Would people go up to the microphone and say, hey, we've got this problem with the Medicaid, the deficits in the first couple of years?

01:00:31.360 I mean, put us in the room.

01:00:32.360 What happened?

01:00:33.360 Well, he spoke for about an hour and a half almost, and there wasn't a whole lot of opportunity for questions.

01:00:40.360 I did stand up and was ready to ask him a question, but I didn't get to do that.

01:00:47.360 He basically commanded the room for the entire time.

01:00:51.360 I'll tell you that the SALT folks got hammered, and it was pretty evident that SALT is not on his plate today in this particular bill.

01:01:02.360 So I think that's a good thing, you know, for the three states that are literally demanding SALT for California, Illinois, and New York.

01:01:10.360 That wasn't good news for them.

01:01:13.360 That's for certain.

01:01:14.360 You know, the president had a speech already written, but he really didn't use it at all.

01:01:21.360 It was just an off-the-cuff kind of speech directly from the heart, I think.

01:01:27.360 And that was very, very important.

01:01:30.360 So there were just, I mean, two or three that were able to ask questions, and that was about it.

01:01:36.360 It really wasn't a back and forth in the conference room.

01:01:40.360 So walk us through the order of battle now.

01:01:44.360 What happens?

01:01:45.360 They've called for a rules vote at 1 a.m. tonight or tomorrow morning, however you want to call it, at 1 a.m.

01:01:53.360 The Democrats are fighting back.

01:01:55.360 Andy Harris and a lot of the guys in the Freedom Caucus that are all over this Medicaid are saying we have to have meetings.

01:02:00.360 Andy Biggs saying he would hope people would read the bill.

01:02:03.360 I mean, what's your perspective?

01:02:05.360 Well, I agree.

01:02:06.360 We do need to get back together and have meetings on this and decide exactly where, you know, how much-

01:02:11.360 The president?

01:02:12.360 Okay, hang on.

01:02:13.360 Hang on, Congressman.

01:02:14.360 Let's go back to the president.

01:02:15.360 Okay, go ahead.

01:02:16.360 You're going to get an 85% reduction in drugs.

01:02:20.360 85% reduction.

01:02:22.360 Not one quarter of a percent.

01:02:24.360 Not an increase.

01:02:25.360 The Democrats, you're going to pay 25% more for drugs with me because of what I've instituted in favored nations.

01:02:32.360 The people of America, and it's about time, going to get an 85% reduction.

01:02:37.360 They're going to be paying the lowest price in the world.

01:02:39.360 How important is this for your agenda?

01:02:41.360 You've been able to do a lot through executive action.

01:02:44.360 How important is it to have this piece of legislation for your agenda and your legacy?

01:02:49.360 It's very important.

01:02:50.360 It's important for the country.

01:02:51.360 It's not important for me.

01:02:52.360 It's important for the country.

01:02:54.360 This is the greatest bill that we'll ever- I think it's the most important bill this country just about has ever done in terms of size and scope.

01:03:03.360 That's why we call it the great, big, beautiful deal.

01:03:06.360 I mean, it really is.

01:03:07.360 The bill is- I think it's going to be one of the most important.

01:03:11.360 It's the biggest tax reduction in history, biggest regulation reduction in history, incredible for Medicaid, Medicare.

01:03:20.360 The only thing- we're going to leave it exactly as it was, other than for, obviously, waste, fraud, and abuse.

01:03:25.360 We're strengthening it.

01:03:26.360 We're going to make these things even stronger.

01:03:28.360 The Democrats are going to destroy Medicare, Medicaid, and Social Security.

01:03:35.360 And we're going to keep them, but even make them stronger.

01:03:38.360 How are the talks- how are the talks going?

01:03:40.360 Say it?

01:03:41.360 Are those new sanctions on Russia like the EU is?

01:03:43.360 Well, we're looking at a lot of things, but we'll see.

01:03:45.360 I had a very good talk yesterday with President Putin.

01:03:48.360 We'll see how that comes out.

01:03:49.360 They're talking- they're talking right now.

01:03:51.360 We'll see how-

01:03:52.360 Are you planning to meet- are you going to meet-

01:03:54.360 Are you going to meet-

01:03:55.360 Say it?

01:03:56.360 What about Pope Leo?

01:03:57.360 Why the partisans serve for the negotiation?

01:03:59.360 Why you suggested that?

01:04:00.360 No, it's- Pope Leo suggested it.

01:04:02.360 And if he'd like to have the talks at the Vatican, I can't think of a better place.

01:04:07.360 I like it.

01:04:08.360 This is a pretty good place to come to think of.

01:04:10.360 Do you like these American popes?

01:04:11.360 But I think- I like them.

01:04:12.360 Yeah.

01:04:13.360 I like the Pope, and I like the Pope's brother.

01:04:14.360 You know, the bro- one of the Pope's brothers, actually both of them.

01:04:17.360 But one in particular is a major MAGA fan.

01:04:20.360 Did you know that?

01:04:21.360 He lives in Florida.

01:04:22.360 He's got MAGA.

01:04:23.360 He's got Trump.

01:04:24.360 And I look forward to getting him to the White House.

01:04:25.360 I want to shake his hand.

01:04:26.360 I want to give him a big hug.

01:04:27.360 Thank you very much, everybody.

01:04:28.360 Thank you.

01:04:29.360 Thank you.

01:04:33.360 Okay.

01:04:34.360 President right there reiterating once again the stakes, Dave Bratt.

01:04:38.360 He's pretty good about getting his message out, right?

01:04:41.360 Yeah.

01:04:42.360 He's going to get-

01:04:43.360 The big issues for the American people just over and over and over.

01:04:46.360 Yeah.

01:04:47.360 All the positive wins.

01:04:48.360 We're going to- the left was great.

01:04:50.360 When we were in charge of Obamacare, we got annihilated by the left.

01:04:54.360 Yeah.

01:04:55.360 Because our leadership wouldn't explain it.

01:04:56.360 There's Trump.

01:04:57.360 We're going to keep Medicare.

01:04:58.360 We're going to keep Social Security.

01:04:59.360 Make them stronger.

01:05:00.360 We're going to make them better.

01:05:01.360 Just weaving in the tax cut benefits, all the big pharmaceuticals.

01:05:05.360 He's the only guy tough enough to take on pharmaceuticals.

01:05:08.360 Big pharma, the one guy doing it.

01:05:09.360 Yeah.

01:05:10.360 Bunch of wins.

01:05:11.360 Congressman Clyde, walk us through how do we get from here this historic trip of the

01:05:16.360 President of the United States to talk to the conference to a vote.

01:05:20.360 Walk us through the critical path.

01:05:22.360 Well, first it's going to have to go to rules.

01:05:26.360 And as you said, rules was called for 1 a.m. tomorrow morning.

01:05:31.360 And then we're going to have to look and see what the- what's called a manager's amendment

01:05:36.360 is, and that's going to be the modifications of the bill itself from what it currently- where

01:05:41.360 it currently stands.

01:05:42.360 So we'll see if the president- if what the president has said, you know, has moved the

01:05:47.360 various members of our conference, the salt guys, et cetera, and, you know, whether they

01:05:53.360 stand their ground for more salt and, you know, greater tax cuts for California, Illinois,

01:06:00.360 and New York, or whether they don't, whether they yield and allow us to move forward.

01:06:07.360 But it's also critically important, as I said, that this bill be financially responsible.

01:06:13.360 And that's really what we need to focus on because, you know, we are heading toward a

01:06:17.360 fiscal cliff in this country.

01:06:19.360 We have $37 trillion in debt, and the bond market has already responded to that.

01:06:25.360 We saw that on Friday when Moody downgraded us from a AAA to a AA-1, which means that they're

01:06:33.360 saying that the U.S. treasuries have an increased risk.

01:06:36.360 So that means an increased interest rate.

01:06:38.360 And all those treasuries that are literally maturing right now at the low interest rate,

01:06:44.360 like 1 percent, are going to have to be replaced by higher interest rate bonds at 3.5, 4.5, who

01:06:51.360 knows, maybe now 5 percent because of the bond downgrade.

01:06:55.360 So this is a serious consideration because we're going to be spending more money on interest

01:07:00.360 in the future.

01:07:01.360 So we have got to get to a point—you know, the president has called for a balanced budget.

01:07:06.360 We've got to get to a point of getting on that trajectory of a balanced budget.

01:07:11.360 And the only way we're going to do that is through budget reconciliation, as in it's a

01:07:14.360 partisan bill, does not need those seven Democrat senators in the Senate to vote yes to ensure

01:07:21.360 the Senate can bring a vote to the Senate floor.

01:07:25.360 Before I let you go, is the manager's memo, which will deal with any changes from the bill,

01:07:31.360 particularly on the Medicaid side and taking care of maybe trying to limit somewhat these

01:07:36.360 deficits in the first year, is that going to be circulated before rules or will they vote

01:07:41.360 rules without that being done yet?

01:07:44.360 Is the process at the end of the day to meet and argue and debate and come up with some

01:07:48.360 compromise on this, hopefully on the manager's memo, would that be circulated this evening

01:07:54.360 before the rules vote or after the rules vote?

01:07:57.360 Well, it will need to be circulated, you know, before rules actually votes because that's

01:08:02.360 what they're voting on, literally.

01:08:04.360 So we've got to be able to see that.

01:08:07.360 And I don't know when it's going to come out.

01:08:09.360 I'm not on the rules committee.

01:08:10.360 So I'm not exactly pervy.

01:08:12.360 Yeah, I don't have any, no preview to that, but we'll definitely be going through that

01:08:18.360 rules package through that, what's called a manager's amendment.

01:08:21.360 All right.

01:08:22.360 Because I believe that's the only amendment that's going to be allowed.

01:08:25.360 So it's going to be fairly substantial, I think.

01:08:28.360 Hey, Congressman, your old friend, Dave Bratt, I got it.

01:08:32.360 How much are you hearing from the people on the deficits?

01:08:35.360 I think that is the new thing.

01:08:36.360 I think that the base and the average American is now really concerned about deficits and

01:08:41.360 that doesn't come up enough.

01:08:43.360 And not only you, but, you know, folks from other states, other regions of the country,

01:08:47.360 are they getting the message from the people?

01:08:50.360 Well, I'm hearing from my people in my district and it's hold the line, hold the line.

01:08:56.360 We don't need, you know, the federal government has a spending problem.

01:09:00.360 As I've said, we have an addiction.

01:09:02.360 We have an addiction to opium.

01:09:04.360 That's OPM, an addiction to other people's money.

01:09:07.360 We have a spending problem in Washington, D.C.

01:09:10.360 We don't have a revenue problem.

01:09:11.360 It's a spending problem.

01:09:12.360 And I'm hearing that people understand that.

01:09:15.360 And they're saying, hold the line for more spending cuts.

01:09:18.360 Yeah.

01:09:19.360 Okay.

01:09:20.360 Congressman, social media, where do people go?

01:09:23.360 Because you're putting up good information all the time.

01:09:26.360 Where do they go?

01:09:27.360 Well, thank you.

01:09:28.360 You can go to Clyde.House.gov.

01:09:30.360 You can follow us at rep underscore Clyde on Twitter or, sorry, on X.

01:09:35.360 And also on Facebook as Rep Clyde.

01:09:40.360 Thank you, sir.

01:09:41.360 Appreciate you.

01:09:42.360 Great job.

01:09:43.360 Great job.

01:09:44.360 Hold the line.

01:09:45.360 Vox Populi.

01:09:46.360 Yep.

01:09:47.360 Vox Deus.

01:09:48.360 Hang in there.

01:09:49.360 The voice of the people is the voice of God.

01:09:51.360 Yep.

01:09:52.360 Okay?

01:09:53.360 Well, I wouldn't go that far, but whatever.

01:09:54.360 Well, that's...

01:09:55.360 I see you Presbyterian.

01:09:56.360 You're Presbyterian.

01:09:57.360 God, the Spirit, the Holy Spirit works through...

01:09:59.360 Speak through the people.

01:10:00.360 Yeah, that's fine.

01:10:01.360 No, no, no.

01:10:02.360 I see these predestination.

01:10:03.360 Just saying.

01:10:04.360 You and Stonewall Jackson.

01:10:05.360 Yeah, you're a great man.

01:10:06.360 You're great.

01:10:07.360 Hold it.

01:10:08.360 Never got a bullet.

01:10:09.360 Hang on.

01:10:10.360 I'm going to drop another bombshell.

01:10:11.360 This is from Rachel Bate.

01:10:12.360 I think Rachel's over at Politico.

01:10:13.360 A bombshell.

01:10:14.360 Another Trump bombshell.

01:10:16.360 Trump tells me, that's Rachel Bate, he hopes the GOP mega bill changes in the Senate

01:10:21.360 because, quote, they have things I like even better.

01:10:24.360 Oh, wow.

01:10:25.360 Wow.

01:10:26.360 Folks, strap in as hard as this vote's going to be.

01:10:29.360 Man.

01:10:30.360 That goes to the thing, and hey, you got Josh Hawley over there.

01:10:33.360 You got...

01:10:34.360 Mr. President, listen to Ron Johnson.

01:10:36.360 Yeah.

01:10:37.360 Ron Johnson's got $8 trillion of cuts.

01:10:39.360 Josh Hawley's over there.

01:10:41.360 Boy, that's going to be another Donny Burke because they got to pass something.

01:10:44.360 Then you go to conference, and then you have a knockdown drag out.

01:10:47.360 Yeah.

01:10:48.360 Scott Besson's telling us, hey, extraordinary measures will essentially end by the first

01:10:53.360 week, second week of August, of which time you're going to need a debt ceiling relief.

01:10:58.360 He's doing all the tricks of the trade to keep cash coming in and paying off.

01:11:02.360 Remember, he's got a waterfall to pay everything off.

01:11:05.360 Yeah.

01:11:06.360 Historic...

01:11:07.360 Yeah.

01:11:08.360 Okay, folks.

01:11:09.360 You need to understand what a hedge is against times of financial turbulence, because we're

01:11:14.360 going into one.

01:11:15.360 And it is paying for the past sins of the political class and the lords of easy money

01:11:21.360 got us in this jam.

01:11:22.360 President Trump and the MAGA forces are trying to get us out.

01:11:27.360 Birchgold.com.

01:11:28.360 Talk to Philip Patrick and the team.

01:11:30.360 Birchgold.com slash Bannon.

01:11:32.360 Philip Patrick and the team.

01:11:34.360 Dave Bratt.

01:11:35.360 Yeah.

01:11:36.360 I brought attention to Japan earlier in the show.

01:11:38.360 Everybody go look it up.

01:11:39.360 Our friends at Zero Hedge.

01:11:40.360 Great article.

01:11:41.360 The reason I brought that up is because that can happen here.

01:11:44.360 Their 20 and 40 year bonds are in deep trouble.

01:11:48.360 What's called the tail, the interest rate that they had to sell at.

01:11:52.360 Right.

01:11:53.360 They had to jack up the rate in order to sell them.

01:11:56.360 And that's what's coming our way.

01:11:57.360 The only thing that's saving us is the reserve currency.

01:12:00.360 And we've been misusing that terribly.

01:12:02.360 And so that's what's coming our way.

01:12:05.360 Okay.

01:12:06.360 Republicans of the sticks, we're going to take a commercial break.

01:12:08.360 We'll come back.

01:12:09.360 A short commercial break to pay for this operation.

01:12:13.360 Then we're going to come back.

01:12:15.360 The Republicans at the sticks, you're going to hear from them.

01:12:17.360 We're going to try to get Jonathan Allen on about the book fight.

01:12:21.360 He got an inside look and particularly the Democrats.

01:12:24.360 Give us some updates on this Biden situation.

01:12:26.360 Dave Bratt riding shotgun.

01:12:27.360 Good day to be here.

01:12:28.360 Dave.

01:12:29.360 That's a great day.

01:12:30.360 Good day.

01:12:31.360 Good day to be here.

01:12:32.360 Providence.

01:12:33.360 Plus he gets free room and board.

01:12:35.360 Brad will eat you at a house and home too.

01:12:38.360 Don't.

01:12:39.360 Hey, if you invite Brad down, make sure you got a fully stocked pantry.

01:12:42.360 Okay.

01:12:43.360 My diet.

01:12:44.360 My diet.

01:12:45.360 Brad Pitt.

01:12:46.360 Brad Pitt.

01:12:47.360 Short commercial break.

01:12:48.360 Back in the warm.

01:12:49.360 Just a moment.

01:12:50.360 You went and lost your pride.

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01:13:00.360 Health isn't just a personal issue.

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01:13:05.360 We're living in unpredictable times.

01:13:07.360 Supply chains can break down.

01:13:08.360 Hospitals can get overwhelmed.

01:13:09.360 We're going to get overwhelmed.

01:13:10.360 And let's not even start on the natural disasters.

01:13:13.360 These aren't hypotheticals.

01:13:14.360 They're happening.

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Bannon's War Room - May 20, 2025

Episode 4498： Trump Heads To The Capitol; Calling Out Hypocritical Spending

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