Episode 4598： Big Beautiful Bill Fight Continues
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Summary
In this episode of War Room, we talk about the House of Representatives passing the $1.15 trillion debt ceiling bill, the impact on the deficit and debt ceiling, and what the White House is trying to do about it.
Transcript
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this is the primal scream of a dying regime pray for our enemies because we're going to
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medieval on this people here's not got a free shot all these networks lying about the people
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the people have had a belly full of it i know you don't like hearing that i know you try to
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do everything the world to stop that but you're not going to stop it it's going to happen and
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where do people like that go to share the big line mega media i wish in my soul i wish that any of
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these people had a conscience ask yourself what is my task and what is my purpose if that answer
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is to save my country this country will be saved war room here's your host stephen k bannett
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it's monday 30 june year of the lord 2025 of course uh the big beautiful bill is trying to get they're
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trying to move this through the senate today already kind of revolt in the house uh you got
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one group of people saying hey it's cutting too much money and another saying it's not cutting enough
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clearly the debt ceiling the five trillion dollar debt ceiling is in this so that gives you some
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indication of uh of direction of at least of the um of some of the debt that will run up over the
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next couple of years we're going to get some details we're trying to get dr stephen myron he's
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the chairman of the council of economic advisors with which i would say along with scott besant
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the secretary treasury and uh dr uh hasett over at the national economic council uh that uh stephen
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myron is the third of the top three economic advisors to uh to president trump i would toss in
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peter navarro there on trade we're going to get him over do something a little different i think that
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other shows have done which i've been spending the afternoon talking to certain officials that
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the cbo uh and i think it's very important for the audience to understand because
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elon musk is out uh and he's not that i told you this was going to happen but he's out lighting up the
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president and uh and lighting up maga uh and um claiming there's time for a third party and that
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this is he calls it i think uh in all his maturity the porky pig bill uh he's going on about the
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spending hammering it hammering it and and this is what galls me about this this was the guy that
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told the president he was going to get two trillion dollars of waste fraud and abuse cuts then he backed it
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off to one tree and this was on an annual basis this wasn't over 10 years this was a trillion
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dollars because we asked him i made sure the question was asked very specifically and he said
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it over and over again a trillion dollars and at the end of the day i don't know folks i know some
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of you fanboys said we got 160 but we haven't seen the 160 billion dollars what we do is have a nine
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billion dollar rescission and all of that is programmatic i haven't seen any i haven't seen any
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anything specifically fraud and abuse put forward uh from the bennett gun or anywhere so um we're
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going to take this a little different tack if you got cbo that has one set of scoring uh the the um
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the administration has its own set of numbers has its own financial forecast it's a little more
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dynamic and we've asked uh dr stephen myron to join us the chairman of the council of economic
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advisors dr myron thank you so much for joining us today you know the cbo is running around and
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saying this thing's going to add trains of dollars to to the debt uh and bigger deficits you got elon
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musk now has weighed in and he's hammering the administration and actually calling for a third
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party you know i spent the afternoon talking to certain officials in the administration about the
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models you guys are looking at and how you're doing dynamic scoring and taking into account that the
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uh supply side tax cuts nature of this a lot of the business uh uh you know elements you're bringing
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in on capital equipment can you just walk the folks through because the cbo is i think saying
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you're going to have 1.8 percent gdp growth uh imf is a 1.7 percent uh can you just take a second
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and walk us through as you guys look at it how this thing rolls out and what you think the right
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model people ought to be focused on sir sure sure so first of all you know look thanks for having me
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uh it's great to be here um look cbo does a really bad job of incorporating economic growth as a result
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of tax provisions that that are strong incentives to increase production right and so there's a number
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of incentives in the bill that are really important there's uh the full expensing on equipment and
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manufacturing and r&d uh that are in new factories that are huge incentives to invest that means that
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companies get huge tax write-offs if they build a factory companies get huge tax write-offs if they
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add more equipment to an existing factory right it's really strong investment incentives and of course
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investment means more jobs it means more economic activity it means more productive capacity it means
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more manufacturing and national security as well and that's super important right there's also very
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strong incentives for more labor supply things like no taxes on tips or overtime tax benefits for seniors
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right these are very very what economists would call elastic but you should just think of as
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responsive segments of the labor supply these are folks that already respond uh very well to increased
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economic incentives to work and providing tax benefits just increase their willingness to work
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and so that increases labor supply which again boosts the economy better economic growth means more
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revenue because it means more income that gets taxed now in president trump's first term gdp growth was
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2.8 percent until the pandemic and of course it's difficult to blame tax policy for the pandemic but
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2.8 percent gdp growth what we've got from the similar set of policies also works out to about 2.8
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percent gdp growth over the course of a decade that alone brings in four trillion dollars of additional
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revenue from better economic growth due to this full suite of full suite of economic policies including
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the tax incentives and the one big beautiful bill but also huge amounts of deregulation cutting red
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tapes that companies can invest in higher when they want instead of begging washington for permission
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spending years begging washington and also the presence of energy abundance policies that lower
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gas prices put more money in consumers pockets every month and also create better ability to reach to
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reshore manufacturing better ability to build factories and manufacturing united states because
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um let's go back i want to go back to the reshoring for a second um we see every day another announcement
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of you know 500 million dollars here 50 billion dollars there a trillion dollars and i'm taking out
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the sovereign wealth funds i mean companies that are publicly reporting that have made uh very specific
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announcements about capital that their capital equipment they're building new plants they're building how
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they're reshoring i think in kentucky over the weekend i think it was ge bringing uh washing machines
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back refrigerators but every day it seems like you have another announcement is that all been factored
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in the the growth that's going to come from just either lower energy deregulation tariffs whatever that
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that ends up being companies just want to be inside in the golden door and not have to deal with the
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tariffs is that how you get to the 2.8 percent or could that be potential even more upside
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well look it's definitely part of it so we didn't go in and count every single deal is part of those
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numbers but the president's suite of policies aim to make america the best place on earth to do
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business so that anyone opening a factory opening a new site hiring workers is america is the obvious
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place to do it not china not somewhere else america is the place to do business and all that does is
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boost the gdp growth which helps bring in revenues and that comes from tax incentives that we were just
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discussing a moment ago you need tax incentives to create to create an environment which people want
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to invest here it comes from cutting red tape it comes from cutting regulations that deter business
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you know you may have a situation in which somebody wants to build a factory and you know build something
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like say jet engines or something but they can't do it because somebody finds a snail
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right you know we want to prevent that from happening so that people can actually build
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uh build the factories to increase production capacity here as opposed to elsewhere
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and it comes from energy abundance it comes from all those things that boosts the economy
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that boosts growth that boosts revenues but we're not getting revenues just from better growth alone
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there's an additional one and a half trillion dollars of discretionary reductions in waste
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fraud and abuse that the government will be doing the administration will be doing that the
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office of management and budget made public a few weeks ago and there's an additional three
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trillion dollars of revenue from tariffs the idea of taxing foreigners to cut taxes on americans
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seems like a no-brainer to me i can't believe it took it took this long for us to figure it out but
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that's what president trump's policy is and he knows it's the right policy
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and then finally because we're borrowing all this less stuff from the deficit reduction from growth
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from tariffs from deregulation from uh cuts to waste run abuse that means you've got less interest
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to pay too and that's an additional one and a half trillion dollars of lower interest expenses
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so you add all this up it comes to about eight and a half to eleven trillion dollars of deficit
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reduction relative to you know relative to where things would be if we had the the big tax hike
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as in the cbo baseline so this is what i want to by the way let's go back to the tariffs for a second
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i have been calculating 400 billion a year off of numbers you're saying even hey you'll even take a
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cut that 300 billion a year over 10 years three trillion dollars additionally tariffs and it looks
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like you're going to blow through that number in the first year right just to make just to show
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people hey they're not throwing a pie in the sky numbers they're already going to hit this number or
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beyond in in the first uh fiscal year correct oh absolutely there's tens of trillions of dollars
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of revenue coming in from tariffs every month already and that number is only going to go higher as
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as as month-to-month volatility smooths out and we settle into the new reality of tariffs but yeah we've
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got about three trillion dollars over 10 years or as you point out about 300 billion dollars per year
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uh but of course you know rates could change we're coming up on this july 9th deadline
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and uh you know there's a lot of countries that are i think doing a really good job of negotiating
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and doing a really good job that making the concessions they need for the president to keep
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their tariff rates relatively low but there are other countries that are proving to be a bit
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intransigent and not really moving forward and uh you know for those countries you know it wouldn't
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be surprising to me if tariff rates snapped back up so there's upside risk for sure to to the tariff
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revenue number i gave you before i just want to make sure everybody knows so the cbo if you take the cbo
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score which is not dynamic but more than that it also doesn't add everything up you're going
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they're at a negative three trillion you're actually saying the reverse you're you're kind
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of a positive eight and a half to 11 in deficit reduction so the spread is anywhere from 10 to 11
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to 14 trillion i mean there's a big spread here be how the two institutions look at it right cbo which
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has a history of uh miscalculation and you guys which are putting this together say hey here's a real
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snapshot of what this is going to look like given the convergence of all our policies correct
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uh it's yes but not exactly right so so so i gave the eight and a half and to 11 trillion dollars
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relative to the tax-like baseline but if you uh if but you know the bill that you know but the the
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the bill itself uh in this in cbo scoring costs about three and a half trillion dollars so the spread
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is three and a half uh you'd subtract three and a half from the eight and a half to 11 numbers that
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i gave you and so therefore the spread of the difference between us and cbo is going to be about
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five to five to uh to to eight and a half or something so the spread is less wide that's that's
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um but other than that yeah yeah yeah but it's a big but it's a significant it's a significant spread
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it's one group's going to be right here and one group's going to be wrong that that's that's you
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can't deny i mean you're you guys add everything up which is logical these are all the activities
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these are all the things you're working on that are coming they're they're real they're happening
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right now cbo kind of has a very static way to look at this correct they do and and let me let me just
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give an example to make it really obvious to everyone listening which is that if there's so there's an
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incentive in this bill the tap the full expensing on new factories so if i build a new factory it's
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completely tax deductible immediately right so that's a very very powerful and profound incent tax
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incentive from the government to get me to build a new factory right obviously there's going to be
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more new factories as a result of that right as the government gives away money to people to build
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factories you will get more factories cbo you know in those more factories means more investment
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more more economic activity more income uh more income means more tax revenue right cbo doesn't
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account for those increased incomes and those increased tax revenue that come from the fact
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that people are building more factories than they would without this incentive
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and by the way we've got a good track of people do you know yeah go ahead yeah
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go ahead a great track record on this revenue revenues as a share of the economy before the tax
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cuts and jobs act before the 2017 tax cut that everyone said it was going to blow such a big hole
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in the deficit right such a big hole in the national budget 17.1 percent of gdp was revenues before tax
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cuts and jobs act still 17.1 percent of gdp so there is no long-term hole as a result of the tax cuts of
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2017 uh there you know and corporate tax revenue went from 1.6 percent of gdp to 1.8 percent of gdp
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so we cut corporate tax rates and yet corporate revenue grew as a share of the economy so we've got
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a fantastic track record on this now in the fourth quarter i think of 2019 actually got to 3.3 percent
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he averaged 2.8 but got to 3.3 dr maron where can people go myron where can people go to find out
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more about this your social media you have a website i want people to get fully up to speed on what
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reality is sure so we've got uh the research paper on our website as well as a chart book about the
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deficit uh it's the council of economic advisors page on the white house website you can just search
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on the internet for for white house cea um i um i've also got a you know we've got a we've got a
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twitter handle uh sorry an x handle at cea 47 uh i'm also at steve myron um but uh yeah you'll
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you'll be hearing more from us doctor yes go on offense you guys have a great story to tell let's
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tell it we're here at the war room to be your platform love it absolutely love it thank you so
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much for joining us today thanks for having me president trump's got some pretty smart guys
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working for him myron's one of them short commercial break we're gonna be back talking
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about the big beautiful bill that's uh engulfing washington right now next
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okay in breaking news uh the senate just failed to remove illegal aliens from medicaid programs because
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the parliamentarian changed the vote requirement to 60 votes from 51 she said it basically couldn't go into
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a straight reconciliation uh you're seeing this happen a lot on various things um i think planned
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parenthood the the defunding is only for a year not for 10 years uh caroline wren i i thank you for
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taking time i know you had other things planned but for jumping in here just on the voterama is still
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going on but they're you know you've got guys like tony perc and i'm not talking about elon
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moss elon moss is just coming out to attack this is his vengeance on the president right calling and
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once again calling for a third party this is after he tried to you know slam back in there and say he
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was sorry and you know wanted to be the president's friend again now he's calling for a third party
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a new party uh he's just land blasting this bill uh with a blunderbuss right not even looking at it in a
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sophisticated manner and there's and don't get me wrong i have big issues with the lots in this bill
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but then you have things like the parliament you got tony perkins and others is saying hey look
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we've been working on this we think you get to the house but you just can't do a one-year cut
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on planned parenthood the whole thing's got to go that's what we voted for and now you see
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kind of just out of nowhere you got there's the parliamentarian makes a decision it can't go in for
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the it can't go for the 51 you know just the majority the majority vote it has to get to 60
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which is really break a filibuster which you're never going to do on the illegal aliens medicaid
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and that there was the whole thing off because that's one of the biggest cuts for medicaid and
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that's one that virtually all the republicans back so can you give us a sense in the senate first
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uh where do you think this thing stands i understand there's deal making going on
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and thune's got to look i i don't um you know thune's got a very tough job trying to wrangle
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all these folks uh give us your sense of on the senate side of where we stand
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isn't it incredible how they could pass obamacare through reconciliation but for some reason we
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cannot roll back any of the uh you know provisions that made into obamacare through reconciliation
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the parliamentarian strikes it out like that's why people are frustrated with this parliamentarian
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is because it is just so uh duplicative what they are what they're what she's doing and so it's
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extremely frustrating to watch there's no way the house is going to vote on a bill that includes
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uh includes funding illegal aliens health care i'm telling you that right now and so there that
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is definitely going to be something that's going to stall this senate bill a little bit they do have
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some more time they were i think hoping to have the final passage today but uh due to some members
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being on codels and different things on the house side i think it's uh there's no way really to vote
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on this in the house side until wednesday but it's certainly an imperfect bill in fact the house
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freedom caucus just came out and said that the senate version adds 651 billion to the deficit
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y'all promised us it wouldn't add anything to the deficit and that was before special interest
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costs which nearly doubled that total so um you know i've talked a lot with uh congressman andy
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harris the head of the freedom caucus who's been incredible but the senate bill that they're
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currently voting on right now is not going to be acceptable for the house there's no possible way
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to get it through so they will have to make changes once it goes back over to the house side but
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more importantly i mean i i'm hoping that this bill gets done and over um quickly quite frankly because
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you know having campaigned as hard as we did especially with you steve as populist we have
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to realize that we've spent the past few months promoting a new war in the middle east and talking
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about cutting medicaid and these are these are not successful things where these are not things
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that i know the maga base wants us to be talking about or focused on in fact the only successful
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bill i've seen get through with some sort of crypto bill another like carve out for uh the the tech
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industry here so i hope that the house will make the changes and we can get this done because if i were
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the democrats there is a lot of messaging i could do against us right now
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well but if the bill passes in its in its form i mean you saw what happened and people should take
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new york city and i'm not talking about his radical his radical um solutions but the ground game he put
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together and how he got to low information voters you've got to take that into consideration
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uh when when you do this i mean this this guy there's some terrible messaging here and look i've
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been an advocate from day one and the reason i i don't like this bill uh although i support the
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president trying to get it done is it should raise taxes on the upper bracket that's one of the ways
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that we can get the uh the math to work better uh and of course uh the republican party parts of that
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are just absolutely uh you know opposed to that um right so when you say pass it i mean it has to
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have a balance between like for instance in the old cutting medicaid with the meat acts we can't do
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anymore for the simple reason that so many jobs have been shifted overseas so few people have
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uh medical insurance so few companies are paying for it or even uh paying decent salaries that there's
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a lot of maga on uh on on medicaid at the same time you've got to take illegal aliens off 100 percent
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and the able-bodied have to work and i don't think it's in there a bed check once every six months is
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enough i think it's got to be much more frequently that and if they can't make the bed check they got to
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you know there's not a problem with working people uh able-bodied people having uh you know
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having medicaid but if you're you know you don't have a job you're not searching for a job you're
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not doing community work you're not going to college you know you got to check that frequently
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if they're not going to do that they got to drop off the rolls those types of things i think have to
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be in there right you have to take care of the rural hospital rural hospitals i believe although tom
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tillis also has some of the tillis guys and and uh ran paul also have make sense in some of their
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sayings so this thing i think needs to be refined more and we have to get the messaging right on this
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or we're going to get crushed on this thing i mean i i see it right now and there's too many things
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slid in here or they're trying to slow slide in here for the tech industry one is the artificial
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intelligence right the 10-year moratorium about any state having any say so at all you know the
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issues have cropped up on artificial intelligence all the time also the fact that the bottom line
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is it takes you 10 times more regulation to open up a nail salon in washington dc than any regulation
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on artificial intelligence right now and essentially they just want to take all regulation off it and
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and have another big win for tech ma'am yeah when i say just passed i mean this the senate side is
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i think an unacceptable bill but in the house they can go back to a lot of the house provisions which
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included the things that you're talking about right now and so that's what i'm hoping is when
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it gets kicked back over the house side then the house can actually uh and let the house freedom
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caucus take the lead on these things and go back to fixing those the ai thing that you just mentioned
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is horrible but but back to what you're talking about in new york city mondami i know you and i have
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been talking a lot about this now things that mondami has said in the past are absolutely insane i have
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no doubt that the man is a marxist socialist nut job but he did not campaign over the last four
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months as that he campaigned essentially as steve bannon and there's a reason why he resonated the
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way he did and if the democrats campaign like this they will crush us in the midterms and the democrats
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stick to the the talking points of the cost of living is too high and americans need a raise
00:23:40.440
the american health care system is broken and insurance companies are corrupt and evil no new wars and
00:23:45.920
protect social security and medicaid those four things are the people that is what people care about
00:23:50.940
back at home that anyone that i talk to outside of washington dc those are the talking points that
00:23:56.680
they want to hear and that's really what mondami was talking about on the campaign trail now the
00:24:01.040
places where i differ with him massively are regarding immigration he's so far out there and also you know
00:24:05.980
when we're talking about israel um you know he he is also way too far out there on that but on the
00:24:11.720
campaign trail when you're asked in a debate where would you travel first and every candidate says israel
00:24:16.960
and he says uh i wouldn't travel anywhere i'm running for mayor of new york so i'm going to be
00:24:21.080
right here in new york city that resonates with folks so you know the talking points that he had
00:24:26.520
over the last four campaigns were actually uh they were extraordinarily effective and they were smart
00:24:31.280
and i'm curious to see how the democrats will follow there but they were talking about things that
00:24:35.680
you've talked about steve and that i did on this show and what republicans should be focused on
00:24:39.700
well they he what he did is took a form of populism and his radical ideas like the the free
00:24:47.920
transportation and the in the food stores he tried to play down he tried to take and steal as much of
00:24:53.640
president trump's platform as possible understanding the democrats have not put forward a legitimate
00:24:59.280
populist left uh a populist platform and this guy is a jihadist he's a he's a neo-marxist uh he is uh
00:25:08.540
it's the red green alliance you can see what's happening in new york city but the sophisticated
00:25:13.140
level that he ran i mean this is kind of obama 2.0 the because obama was a total radical right
00:25:19.580
the this guy's a beyond a radical he's he's beyond obama but the way that they're running they
00:25:24.980
understand that populism and populist policies are the solution that's why the house version i mean
00:25:31.080
this is going to be a big fight i don't see this right now and maybe i'm wrong i don't see this on
00:25:35.740
the president's desk on fourth of july for a signature unless the house gets back here quickly
00:25:40.660
and they're able to hammer some of this out uh with the senate ma'am you know i i think that
00:25:46.980
deadline is looking more and more unlikely as well um and so which i have no problem if they pass that
00:25:51.500
deadline you know fine i just want this bill fixed and and made in the most um america first uh model of
00:25:57.880
what it is this is supposed to be president trump's agenda in this bill and so i am really hoping that
00:26:02.960
the house can get in there and truly fix it and then i hope that the house and the senate and then
00:26:08.440
president trump's team focus on the campaign promises that they made to americans and that
00:26:13.100
is to focus on lowering the cost of living in this country which he really has been doing i mean the
00:26:18.860
price of gas has gone down inflation is going down they've got to cut rates but these are all things
00:26:23.880
that we need to be talking about and not just constantly talking about these confusing languages in the
00:26:28.960
bill and iran and israel now netanyahu is coming next week that's a whole nother last week of
00:26:34.080
messaging talking about netanyahu's visit talk about america talk about the problems that americans are
00:26:39.420
having that they want fixed that president trump promised he would fix and which he actually is but
00:26:43.920
we are getting distracted looking at these you know uh just constant overseas problems and right now
00:26:50.560
we need to focus on the wins that president trump can deliver and has delivered it and not just that
00:26:56.680
the netanyahu the new york people understand this i spent four days up there looking at the data it
00:27:01.140
was a referendum on netanyahu better you better understand this because bringing netanyahu to the
00:27:06.520
white house next week is horrible horrible heart particularly if we're in the middle of this
00:27:10.120
horrible messaging uh because they still are bound and determined to do regime change the american
00:27:15.360
people have zero interest in this they just want to hey we got it done took out the nuclear program
00:27:20.440
president trump ended the 12-day war uh with a catastrophic strike game over let's take the win and
00:27:26.520
move on caroline where do people get you on social media people want to follow you particularly as
00:27:31.180
this works up through the in the senate and you're hearing a lot of guys in the house a lot of people
00:27:36.300
members of the house starting to say hey this is going to be tough to uh to swallow in the house so
00:27:41.380
it's going to be a big fight this week where do folks go ma'am it is at caroline wren on twitter
00:27:51.660
philip patrick even as we speak is heading to lax the airport he's going to be heading to brazil
00:27:59.660
for the uh for the bricks nations their uh their their meeting in brazil uh to uh talk about the u.s
00:28:08.760
dollar as the prime reserve currency birchgold.com promo code bannon the end of the dollar empire seven
00:28:15.320
free installments get up to speed we're going to have philip patrick from lax in the six o'clock
00:28:20.820
hour before he leaves we'll have him every day from brazil short break back in a moment
00:28:25.140
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okay um they just passed so for instance the the parliamentarian is saying now you can't do the uh
00:30:03.500
you can't you can't do the illegal aliens yet uh we just did pass i think they blocked funding um
00:30:12.160
funding planned parenthood now i'm not sure if that's for the whole 10 years or the one year i
00:30:17.260
think it's just for the one year but the u.s senate has just blocked a measure that required the big
00:30:21.220
beautiful bill to fund planned parenthood by a 49-51 vote um that's positive today uh also you should
00:30:30.160
note and this is one of the reasons we're not going to the floor all the time normally have
00:30:33.200
these voter ramas it's one after the other after the other you know they go all night and they go
00:30:38.480
for a couple of days maybe or and it's completely jammed with amendments debate on the amendments
00:30:43.280
this is going a little you know catches catch can a little uh sarah ferris uh i want to report that
00:30:50.540
there is zero rush by the senate to move along with these amendments the last amendment vote
00:30:54.620
for murray was open for 45 plus minutes it just failed this is not your average voter rama usually
00:31:01.640
overnight and much much faster i think the reason is that they're still debating things are going into
00:31:07.260
this bill now my understanding is that this the reporting this morning on the show about marshall
00:31:15.680
blackburn actually working on some compromise with ted cruz turns out it was essentially wrong
00:31:22.980
marshall blackburn is down and and she's kind of dug in particularly the parliamentarian is not going
00:31:28.500
to um say that they can get any uh compromise language she thinks protects children and content
00:31:34.980
creators on the uh on the bill uh on artificial intelligence and right now my understanding is
00:31:42.020
the parliamentarian just came back said they can't make those changes and so as it stands right now and
00:31:46.980
we are a big advocate of calling your congressman calling your senator and saying hey there should be no
00:31:52.020
compromise in this it should be um the states you know that they should not block the states for 10
00:31:58.580
years this moratorium against the states for 10 years is is absolutely uh is absolutely outrageous
00:32:04.580
and it should be and my concern is not a lot of these people and mike davis and others are putting up
00:32:09.460
decisions about um um content creators and the ability to you know make sure they can't take all your
00:32:17.220
information like president trump's book art of the deal and take it and use it for machine learning
00:32:22.100
and make people smarter and not have to pay for it or not have to compensate for it so there's taking
00:32:26.020
all this as free content certainly i have an issue with that as a content creator you know that's the
00:32:32.100
type of thing get worked out my bigger problem is that the states may be our bulwark here about
00:32:37.940
what's going on with artificial intelligence like i said you've got uh you've got um you know more
00:32:44.260
regulations on getting a nail salon set up or hair braiding salon set up then you have on on
00:32:50.500
artificial intelligence right now and this is another bill passed by big tech you heard uh uh
00:32:56.580
caroline wren the only thing i think has really been passed of any substance uh is this was this
00:33:01.460
genius act on uh on on cryptocurrency that was really pushed by the tech bros and you see right
00:33:07.220
now you've got a tech bro okay fine you've got the tech bros uh that are that are pushing here you see
00:33:14.980
they're hiding behind elon moss or they're ripping on president trump right now calling for a new third
00:33:19.380
party i don't think it behooves us in the efforts we're trying to do here to try to get this all put
00:33:24.820
to bed and look nobody's in love with this bill the entire thing it's got issues to it it's also got
00:33:30.260
great benefits you heard dr stephen uh myron at the uh at the very top uh with the economic growth
00:33:37.540
that could come out of this and that's the bet that's being made a supply side joe allen uh joins us
00:33:42.340
and joe allen i think we're gonna try to get some other people as the show goes on but right now i
00:33:47.460
did have a chance to talk to senator blackburn uh she's pretty dug in that she she's not she's not
00:33:53.380
enthusiastic about any compromise on this unless it's the only possible way out but right now she
00:33:58.340
says the parliamentarian she doesn't think he's going to prove anything that would be on any compromise
00:34:03.060
so there's not going to be a compromise do you have any uh any update on that sir
00:34:07.060
no steve other than i i've heard from a reliable source that blackburn is planning to stand up to
00:34:16.980
this that she is not planning on compromising uh i think that her constituents should give her all the
00:34:24.820
support that she needs and make sure that she understands that they do not want this federal
00:34:32.740
preemption they do not want to have the federal government be the sole bulwark against the
00:34:39.060
various downsides of ai i mean you know we've covered this for four years the war room audience understands
00:34:46.820
that everything from ai addiction with kids becoming kind of brain dead due to reliance on it all the way out
00:34:56.020
to the dangers of ai powered weapon systems and even having potentially some sort of artificial
00:35:03.860
general or super intelligence that would just be a u.s civilization shattering transformation you want
00:35:10.180
to have at the very least whether it's the the most mundane algorithm uh or some dreamt of godlike ai you
00:35:18.340
want to have the legal systems in place to hold these companies liable uh to actually insist
00:35:25.780
on transparency so that the systems are being tested consistently so that we know that if you
00:35:31.460
hand a child a laptop and say this is your teacher this is where you will learn about reality that the
00:35:38.260
child is not going to be fed hallucinations constantly and have their mind warped all the way out to the
00:35:44.740
medical industry where right now they're talking about a kind of new medical ethic where one is considered
00:35:51.860
to be negligent one is considered to be um a mountain basically conduct you know malpractice uh as a
00:35:59.700
doctor for not consulting ai uh as some sort of justification for any diagnosis any sort of
00:36:06.980
treatment so yes uh marsha blackburn a hundred percent needs to stand up she's got josh hawley on her side
00:36:13.860
she has ran paul on her side and of course she has most of america on her side the latest poll
00:36:20.820
from the institute for family studies uh conducted with uh you gov showed that trump voters just
00:36:27.700
isolating selecting for trump voters that 55 percent do not want an ai moratorium 55 percent i'm sorry 55
00:36:37.780
percent uh want their states to be empowered to make their own decisions and conduct themselves
00:36:45.300
into the future as they choose so yeah steve i think that marcia blackburn if she has the spine to
00:36:51.780
do this uh she's going to come out a winner at the end yeah i don't know why ted cruz and the great this
00:36:59.140
is another thing that concerns me about texas that's the great state of texas why ted cruz is doing the
00:37:03.860
bidding of the uh of the tech bros here hang over a second we got mark beal joins us joe stay right there
00:37:09.780
because i want to ask you about the conference you went to and and what the sense of the folks
00:37:13.620
at the conference was mark beal can you you help us on this uh people are pretty worked up about
00:37:19.620
looking at uh keeping the states and any kind of involvement in the states at all and any type of
00:37:25.060
oversight or regulations of uh on ai this is going to be a very big deal in the senate right now and
00:37:31.780
they're talking about compromise but we now know that some people are saying no we don't want to
00:37:35.140
compromise we want uh we want you know no we're not taking 10 years we're not taking five years
00:37:41.140
we want no years zero uh can you give us an update yeah it's pretty dynamic situation now steve um
00:37:49.700
it's funny that this one little line in the big beautiful bill has attracted so much attention and
00:37:55.220
i think it's right that it is attracting this much attention you know this all the industry leaders
00:37:59.380
people are saying this is going to be one of the most transformative technologies and in human
00:38:03.300
human history and it's probably worth a of a national dialogue on how we need to be thinking
00:38:08.580
about it and you know the idea that we're going to put this provision in the big beautiful bill
00:38:13.140
and slow down the president's agenda and and give give kind of the tech industry a a freebie seems
00:38:18.660
a little bit kind of uh dissonant to me at least when it comes to what good policy should look like
00:38:25.940
well this is why it was done this bill's 900 pages long you see the fights and right now
00:38:31.540
twitter's blowing up with these votes and where republicans are coming down on these votes right
00:38:36.580
now and it looks i think uh shakir kapoor over at uh sahil kapoor over at cnn is saying hey the
00:38:43.460
whole thing looks so far from a done deal and we already know this is not moving at the kind of pace
00:38:48.900
you normally have voter ramas the reason is students having to put together almost on amendment
00:38:53.060
by amendment a different coalition how did this and the parliamentarian i think is sitting there going
00:38:59.780
this thing should have never been in here in the first place this is a pure policy
00:39:03.860
you know this is a pure policy change and a massive policy change and it shouldn't be in
00:39:08.340
a budget reconciliation right that's what she's coming back and and and you know enforcing kind
00:39:13.620
of what the rules are for these reconciliations but this shows you that people like ted cruz and
00:39:18.740
those that are doing the bidding of the oligarchs are going to slip a one page in with a you know
00:39:24.580
one paragraph two paragraphs that could change american life sir you know if it would be one
00:39:32.180
thing if the president of the united states came out and and said personally this is a big important
00:39:37.140
priority for me but we didn't even see that the ai policy appear once in his statement of administration
00:39:44.340
policy and so i it's not clear to me that the white that the president himself is is really you know
00:39:50.020
focused on this i think he's got a big agenda in the big beautiful bill and at this point you know
00:39:56.340
we're slowing down the the the the implementation of of what the american people elected the president
00:40:02.180
to do over this kind of very bespoke issue and i think you know joe or someone else mentioned that
00:40:08.500
some of the polling in american people don't don't want to see a freebie to to the industry just let
00:40:14.660
it do whatever it wants and it's not you know i saw uh secretary letnik today tweeted that you know
00:40:19.220
it's concerns about just california and in the liberal agenda but as you pointed out it's texas
00:40:24.820
it's utah georgia there are plenty of tennessee plenty of good conservative states out there trying
00:40:30.260
to get their arms around this and it's a bit of a head-scratcher while we're trying to undo all that hard
00:40:34.740
work well let me ask you i think people in briefing the president president understands that we're in a
00:40:41.460
part of this because of deep seek we are in a race with the chinese communist party i think his
00:40:47.060
you know he comes down and says hey i want us to be a leader in artificial intelligence i don't want
00:40:51.700
us to find fall behind the chinese the artificial intelligence industry in particular the four guys
00:40:57.700
that are at the lead of it including elon must be in one they're using that as kind of we've had
00:41:03.140
the sputnik moment we can't have any regulations at all it's a it's a matter of life and death
00:41:08.660
to do this do you agree with that or do you think that's oversell i i think it's all about
00:41:14.900
the relative velocity of the united states and china you know i think the tech industry has been
00:41:21.060
selling to the chinese all the capabilities they've needed to be successful and to catch up to us over
00:41:26.340
the last you know three to five years we've been hemorrhaging our capabilities to the chinese and so
00:41:32.420
the idea that some folks in industry want to say oh we're scared about china and at the other and
00:41:37.380
you know turn around and then sell them our most of most sophisticated capabilities there's some
00:41:41.700
logical you know questions that we might have in that so i i do i am i am appreciate the concern that
00:41:47.540
a patchwork regulatory regime might impact our industry and may slow us down that's why i think
00:41:53.620
it's really urgent that the congress get itself together and start to focus on this and then also
00:41:59.620
sort of slow down the flow of our stuff over the chinese and so that their military is not
00:42:04.660
weaponizing american tech against us i think both those two things would happen this would help
00:42:08.900
increase the lead between the united states and china in a helpful way that also allows us to think
00:42:14.180
more deeply about the the impact of this and powerful technology on the american people
00:42:21.140
can you hang on for a second mark and uh and i'm gonna get joe allen back in here in a moment
00:42:25.780
we're gonna take a break um we've got jackie torboroff and and dave ramaswamy what happened in new
00:42:31.700
york i think particularly below the surface uh has uh tremendous lessons to the mega movement and uh
00:42:39.140
and to where this country is heading because it's quite dangerous also dave ramaswamy is going to join
00:42:42.900
us to talk about the um the education industrial complex that complex is the tap root of what happened
00:42:52.420
in new york city and you're going to be pretty shocked at how the recruiting was done how tax dollars
00:42:57.140
were paid for it paid for it uh what has really happened to these school systems and what it's
00:43:02.100
visited upon you the situation in new york is uh it ain't defcon one but it ought to be defcon two and
00:43:07.540
a half it's uh it's it's that serious so jackie's going to join us dave ramaswamy we're also gonna get
00:43:12.100
philip patrick philip patrick and the team are heading to brazil today they're going to get there uh to get
00:43:18.340
ready for the uh for the conference uh the bricks nations are meeting they're meeting for one reason
00:43:24.340
the think through it's called the rio reset they're thinking about what they're going to do in
00:43:28.420
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for 20 off and free shipping you know we started the show today with dr steven mirin the chairman of
00:44:50.100
the council of economic advisors walking through the model they're using a 200.8 growth you heard
00:44:56.500
the supply side part of this all of it's great it there is an issue that nobody debates and that is
00:45:02.420
is there's going to be a gap right we think it's going to be a smaller gap the cbo and the democrats
00:45:06.660
think it's going to be a bigger gap that gap's got to be closed one way they do it is dr mirin talked
00:45:11.700
about it and increased tax revenues coming on on increased growth if you've got a problem with
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your back do it today uh joe allen uh joe you went to a conference this weekend i know i'm gonna get
00:46:09.860
you up on skype one day to get a better view but just give us a quick overview uh how i couldn't make
00:46:14.900
it out there because i was in new york city trying to figure i'm trying to figure out how not to have a
00:46:20.900
radical take over the mayorship uh and that's gonna be quite difficult uh but tell us about the
00:46:25.620
conference well steve uh first and foremost i gotta say that i was i was at two conferences
00:46:31.860
back to back uh between bozeman montana and somewhere in the wilds of wyoming and both of
00:46:38.180
them they insist that you come out and and at least say hi but uh hopefully come out and and
00:46:45.620
share your wisdom on stage so uh the first was perfect nefcon with timothy alberino and i've got
00:46:52.900
to say you know i spoke at his birthright conference two years before of course that
00:46:58.100
audience is going to be much more primed towards ideas of transhumanism artificial intelligence
00:47:02.820
artificial super intelligence but just in the last two years you can see this dramatic change
00:47:08.420
because people are now interacting with ai their jobs are insisting that they use it
00:47:14.500
their schools are starting to roll it out as teaching tools it's becoming just the norm and of
00:47:19.780
course you're seeing it in the military you're seeing it being pushed into government with palantir
00:47:24.500
and doge so uh the awareness is just so much keener now than it was two years ago and you know
00:47:32.340
statistically if you look at the polls if you look at the surveys americans by and large don't want
00:47:38.500
to incorporate ai into their lives they don't want to have ai as some sort of tool that they're forced
00:47:44.900
to use all the time in their jobs so you know when it gets to the legality of it the ability of states
00:47:51.300
to regulate it uh or the federal government incorporating it most americans are not comfortable
00:47:57.460
with this and i hope that politicians in congress and in the administration are starting to
00:48:02.020
see that this is not something that is for the people this is something that is being pushed
00:48:08.260
by a very very tiny minority of billionaires and their technologists and the smaller camp of
00:48:15.540
transhumanists the second uh thing i just want to say though with wyoming just i can't really talk
00:48:22.580
about who was here but i will say that a number of people who are deeply uh involved in the tech industry
00:48:30.180
and also writers a lot of artists the same sort of sentiment even among technologists extreme
00:48:37.140
discomfort at the very least that you have a small handful of tech oligarchs determining all this
00:48:42.980
nobody wants it and that's really the point americans don't want it the tech companies do
00:48:50.180
the politicians really need to reflect our interests not theirs
00:48:56.420
joe how do people get to you we'll get you back up when you get to a location in the next couple
00:49:00.420
days where do people go in the interim sir uh at joe b-o-t-x-y-z on social media and jobot.xyz
00:49:09.060
uh substack thank you very much steve i will talk to you soon thank you and i'm glad you represented
00:49:16.500
us well at the conference i was really proud of you uh mark beal this is one we should this uh
00:49:23.300
what they try to slip into one page we should have a national debate over uh correct what would you
00:49:29.140
recommend that the audience do right now in order to make sure their voice is heard about this ai
00:49:34.580
uh moratorium a state's got to take a 10 year a decade and not do anything no regulations on
00:49:40.500
artificial intelligence what are your thoughts this is the most important issue of our time
00:49:46.260
and the american people have to have a vote have to have a say you know we the same of the arguments
00:49:51.700
that they're making right now sound awfully like like the arguments they use with nafta and you know
00:49:55.860
that that disenfranchised a lot of people and the most important things that we need to do now is get
00:50:00.660
active get on the phone call your congressman call your senator let them know that you care about
00:50:06.340
this issue and you care about it deeply and i think that's the way that we're going to move the
00:50:09.780
needle we need a grassroots uprising to start engaging and picking up the phone and making
00:50:13.300
sure these politicians understand uh that the people have an interest and have a say and they
00:50:17.300
want their voices heard mark uh you're leading an organization now you dedicate yourself to this
00:50:24.980
effort where do people go sir uh our organization is called the ai policy network and
00:50:36.900
brother thank you and thank you for jumping on here this afternoon we're going to get you this
00:50:40.100
one's a dog fight it's going to go through the night and probably tomorrow so we'll be what we'll
00:50:43.940
be hunting you down in the morning sir get all right steve thanks
00:50:49.140
mark bill they got do i have lindell i've got the mike lindell i go from artificial intelligence to
00:50:55.700
mike lindell mike lindell you saved the company you saved the company now sell us a pillow or sell
00:51:02.740
us a sheet tell us some of these sheets people want to support you they love the fact you're back
00:51:07.540
and they love the fact that you live to fight another day sir well thank you steve and thank you
00:51:12.340
war room posse you guys made it all possible and i'm back in minnesota i was down at my factory
00:51:17.780
today remember we've got the the new percale sheets the whole line came in these are the higher
00:51:23.380
thread count percale sheets we're doing just as just for today now tonight it's the last few hours of
00:51:29.380
that sale we i wanted the war room posse to get it for the wholesale price 29.88 they're normally 79
00:51:36.900
89.99 99.99 any size any color and uh uh for 29.99 29.88 doesn't matter if it's king size queen size split
00:51:47.060
kings go to the website you guys this is just a few hours left click on steve there there's the 29.88
00:51:54.100
there's going to go up to the regular sale price which the rest of the country is playing paying you got
00:51:59.220
the 50 off crosses i just got those in my office the new ones just came in there check those out
00:52:05.860
and all of the stuff we have on sale the big ticket items we left them on sale for 50 or more that's
00:52:12.100
the beds the mattress toppers the mattress pads all of it made in the 100 in the usa get those big
00:52:19.220
ticket items but you guys call downstairs i had fun this morning 800-873-1062 get yourself a set of these
00:52:28.100
sheets i'm going to go down there right now and take phone calls with my crew take a call we've been
00:52:33.220
been having a great time here it's like a telethon steve from a coat war room we gotta jump back in a