Bannon's War Room - Episode 4598： Big Beautiful Bill Fight Continues

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

00:00:10.240 medieval on this people here's not got a free shot all these networks lying about the people

00:00:16.840 the people have had a belly full of it i know you don't like hearing that i know you try to

00:00:20.920 do everything the world to stop that but you're not going to stop it it's going to happen and

00:00:24.360 where do people like that go to share the big line mega media i wish in my soul i wish that any of

00:00:32.180 these people had a conscience ask yourself what is my task and what is my purpose if that answer

00:00:39.300 is to save my country this country will be saved war room here's your host stephen k bannett

00:00:48.020 it's monday 30 june year of the lord 2025 of course uh the big beautiful bill is trying to get they're

00:00:58.960 trying to move this through the senate today already kind of revolt in the house uh you got

00:01:04.800 one group of people saying hey it's cutting too much money and another saying it's not cutting enough

00:01:09.100 clearly the debt ceiling the five trillion dollar debt ceiling is in this so that gives you some

00:01:13.640 indication of uh of direction of at least of the um of some of the debt that will run up over the

00:01:21.700 next couple of years we're going to get some details we're trying to get dr stephen myron he's

00:01:26.340 the chairman of the council of economic advisors with which i would say along with scott besant

00:01:31.940 the secretary treasury and uh dr uh hasett over at the national economic council uh that uh stephen

00:01:41.000 myron is the third of the top three economic advisors to uh to president trump i would toss in

00:01:47.320 peter navarro there on trade we're going to get him over do something a little different i think that

00:01:51.640 other shows have done which i've been spending the afternoon talking to certain officials that

00:01:55.920 the cbo uh and i think it's very important for the audience to understand because

00:02:01.060 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

00:02:09.880 president and uh and lighting up maga uh and um claiming there's time for a third party and that

00:02:17.440 this is he calls it i think uh in all his maturity the porky pig bill uh he's going on about the

00:02:22.880 spending hammering it hammering it and and this is what galls me about this this was the guy that

00:02:30.080 told the president he was going to get two trillion dollars of waste fraud and abuse cuts then he backed it

00:02:35.720 off to one tree and this was on an annual basis this wasn't over 10 years this was a trillion

00:02:40.600 dollars because we asked him i made sure the question was asked very specifically and he said

00:02:45.140 it over and over again a trillion dollars and at the end of the day i don't know folks i know some

00:02:51.020 of you fanboys said we got 160 but we haven't seen the 160 billion dollars what we do is have a nine

00:02:55.260 billion dollar rescission and all of that is programmatic i haven't seen any i haven't seen any

00:03:01.220 anything specifically fraud and abuse put forward uh from the bennett gun or anywhere so um we're

00:03:09.020 going to take this a little different tack if you got cbo that has one set of scoring uh the the um

00:03:15.520 the administration has its own set of numbers has its own financial forecast it's a little more

00:03:21.580 dynamic and we've asked uh dr stephen myron to join us the chairman of the council of economic

00:03:26.760 advisors dr myron thank you so much for joining us today you know the cbo is running around and

00:03:32.640 saying this thing's going to add trains of dollars to to the debt uh and bigger deficits you got elon

00:03:38.300 musk now has weighed in and he's hammering the administration and actually calling for a third

00:03:43.220 party you know i spent the afternoon talking to certain officials in the administration about the

00:03:48.920 models you guys are looking at and how you're doing dynamic scoring and taking into account that the

00:03:55.100 uh supply side tax cuts nature of this a lot of the business uh uh you know elements you're bringing

00:04:01.580 in on capital equipment can you just walk the folks through because the cbo is i think saying

00:04:06.340 you're going to have 1.8 percent gdp growth uh imf is a 1.7 percent uh can you just take a second

00:04:14.020 and walk us through as you guys look at it how this thing rolls out and what you think the right

00:04:19.880 model people ought to be focused on sir sure sure so first of all you know look thanks for having me

00:04:27.240 uh it's great to be here um look cbo does a really bad job of incorporating economic growth as a result

00:04:33.880 of tax provisions that that are strong incentives to increase production right and so there's a number

00:04:38.540 of incentives in the bill that are really important there's uh the full expensing on equipment and

00:04:44.060 manufacturing and r&d uh that are in new factories that are huge incentives to invest that means that

00:04:49.980 companies get huge tax write-offs if they build a factory companies get huge tax write-offs if they

00:04:54.440 add more equipment to an existing factory right it's really strong investment incentives and of course

00:04:59.000 investment means more jobs it means more economic activity it means more productive capacity it means

00:05:03.080 more manufacturing and national security as well and that's super important right there's also very

00:05:07.480 strong incentives for more labor supply things like no taxes on tips or overtime tax benefits for seniors

00:05:12.840 right these are very very what economists would call elastic but you should just think of as

00:05:17.620 responsive segments of the labor supply these are folks that already respond uh very well to increased

00:05:23.280 economic incentives to work and providing tax benefits just increase their willingness to work

00:05:28.420 and so that increases labor supply which again boosts the economy better economic growth means more

00:05:33.080 revenue because it means more income that gets taxed now in president trump's first term gdp growth was

00:05:39.060 2.8 percent until the pandemic and of course it's difficult to blame tax policy for the pandemic but

00:05:44.480 2.8 percent gdp growth what we've got from the similar set of policies also works out to about 2.8

00:05:50.460 percent gdp growth over the course of a decade that alone brings in four trillion dollars of additional

00:05:55.440 revenue from better economic growth due to this full suite of full suite of economic policies including

00:06:00.720 the tax incentives and the one big beautiful bill but also huge amounts of deregulation cutting red

00:06:05.920 tapes that companies can invest in higher when they want instead of begging washington for permission

00:06:10.080 spending years begging washington and also the presence of energy abundance policies that lower

00:06:14.800 gas prices put more money in consumers pockets every month and also create better ability to reach to

00:06:20.500 reshore manufacturing better ability to build factories and manufacturing united states because

00:06:24.280 energy goes into everything

00:06:25.620 um let's go back i want to go back to the reshoring for a second um we see every day another announcement

00:06:35.280 of you know 500 million dollars here 50 billion dollars there a trillion dollars and i'm taking out

00:06:41.000 the sovereign wealth funds i mean companies that are publicly reporting that have made uh very specific

00:06:47.580 announcements about capital that their capital equipment they're building new plants they're building how

00:06:52.200 they're reshoring i think in kentucky over the weekend i think it was ge bringing uh washing machines

00:06:57.620 back refrigerators but every day it seems like you have another announcement is that all been factored

00:07:02.740 in the the growth that's going to come from just either lower energy deregulation tariffs whatever that

00:07:10.580 that ends up being companies just want to be inside in the golden door and not have to deal with the

00:07:16.420 tariffs is that how you get to the 2.8 percent or could that be potential even more upside

00:07:21.260 well look it's definitely part of it so we didn't go in and count every single deal is part of those

00:07:28.200 numbers but the president's suite of policies aim to make america the best place on earth to do

00:07:32.500 business so that anyone opening a factory opening a new site hiring workers is america is the obvious

00:07:37.720 place to do it not china not somewhere else america is the place to do business and all that does is

00:07:42.860 boost the gdp growth which helps bring in revenues and that comes from tax incentives that we were just

00:07:47.220 discussing a moment ago you need tax incentives to create to create an environment which people want

00:07:51.200 to invest here it comes from cutting red tape it comes from cutting regulations that deter business

00:07:55.480 you know you may have a situation in which somebody wants to build a factory and you know build something

00:07:59.700 like say jet engines or something but they can't do it because somebody finds a snail

00:08:02.960 right you know we want to prevent that from happening so that people can actually build

00:08:06.820 uh build the factories to increase production capacity here as opposed to elsewhere

00:08:11.040 and it comes from energy abundance it comes from all those things that boosts the economy

00:08:15.160 that boosts growth that boosts revenues but we're not getting revenues just from better growth alone

00:08:19.820 there's an additional one and a half trillion dollars of discretionary reductions in waste

00:08:24.100 fraud and abuse that the government will be doing the administration will be doing that the

00:08:27.320 office of management and budget made public a few weeks ago and there's an additional three

00:08:31.700 trillion dollars of revenue from tariffs the idea of taxing foreigners to cut taxes on americans

00:08:37.340 seems like a no-brainer to me i can't believe it took it took this long for us to figure it out but

00:08:41.240 that's what president trump's policy is and he knows it's the right policy

00:08:44.180 and then finally because we're borrowing all this less stuff from the deficit reduction from growth

00:08:48.480 from tariffs from deregulation from uh cuts to waste run abuse that means you've got less interest

00:08:54.160 to pay too and that's an additional one and a half trillion dollars of lower interest expenses

00:08:57.840 so you add all this up it comes to about eight and a half to eleven trillion dollars of deficit

00:09:02.960 reduction relative to you know relative to where things would be if we had the the big tax hike

00:09:08.480 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

00:09:15.520 i have been calculating 400 billion a year off of numbers you're saying even hey you'll even take a

00:09:20.580 cut that 300 billion a year over 10 years three trillion dollars additionally tariffs and it looks

00:09:24.720 like you're going to blow through that number in the first year right just to make just to show

00:09:28.740 people hey they're not throwing a pie in the sky numbers they're already going to hit this number or

00:09:33.400 beyond in in the first uh fiscal year correct oh absolutely there's tens of trillions of dollars

00:09:40.960 of revenue coming in from tariffs every month already and that number is only going to go higher as

00:09:45.580 as as month-to-month volatility smooths out and we settle into the new reality of tariffs but yeah we've

00:09:50.460 got about three trillion dollars over 10 years or as you point out about 300 billion dollars per year

00:09:54.960 uh but of course you know rates could change we're coming up on this july 9th deadline

00:09:58.940 and uh you know there's a lot of countries that are i think doing a really good job of negotiating

00:10:03.880 and doing a really good job that making the concessions they need for the president to keep

00:10:07.660 their tariff rates relatively low but there are other countries that are proving to be a bit

00:10:11.320 intransigent and not really moving forward and uh you know for those countries you know it wouldn't

00:10:15.940 be surprising to me if tariff rates snapped back up so there's upside risk for sure to to the tariff

00:10:20.960 revenue number i gave you before i just want to make sure everybody knows so the cbo if you take the cbo

00:10:28.100 score which is not dynamic but more than that it also doesn't add everything up you're going

00:10:33.480 they're at a negative three trillion you're actually saying the reverse you're you're kind

00:10:38.540 of a positive eight and a half to 11 in deficit reduction so the spread is anywhere from 10 to 11

00:10:44.360 to 14 trillion i mean there's a big spread here be how the two institutions look at it right cbo which

00:10:51.040 has a history of uh miscalculation and you guys which are putting this together say hey here's a real

00:10:57.260 snapshot of what this is going to look like given the convergence of all our policies correct

00:11:01.740 uh it's yes but not exactly right so so so i gave the eight and a half and to 11 trillion dollars

00:11:10.020 relative to the tax-like baseline but if you uh if but you know the bill that you know but the the

00:11:16.940 the bill itself uh in this in cbo scoring costs about three and a half trillion dollars so the spread

00:11:22.940 is three and a half uh you'd subtract three and a half from the eight and a half to 11 numbers that

00:11:27.540 i gave you and so therefore the spread of the difference between us and cbo is going to be about

00:11:31.580 five to five to uh to to eight and a half or something so the spread is less wide that's that's

00:11:38.380 um but other than that yeah yeah yeah but it's a big but it's a significant it's a significant spread

00:11:45.900 it's one group's going to be right here and one group's going to be wrong that that's that's you

00:11:50.660 can't deny i mean you're you guys add everything up which is logical these are all the activities

00:11:55.660 these are all the things you're working on that are coming they're they're real they're happening

00:12:00.040 right now cbo kind of has a very static way to look at this correct they do and and let me let me just

00:12:07.780 give an example to make it really obvious to everyone listening which is that if there's so there's an

00:12:12.600 incentive in this bill the tap the full expensing on new factories so if i build a new factory it's

00:12:18.120 completely tax deductible immediately right so that's a very very powerful and profound incent tax

00:12:23.640 incentive from the government to get me to build a new factory right obviously there's going to be

00:12:28.240 more new factories as a result of that right as the government gives away money to people to build

00:12:32.700 factories you will get more factories cbo you know in those more factories means more investment

00:12:38.760 more more economic activity more income uh more income means more tax revenue right cbo doesn't

00:12:45.540 account for those increased incomes and those increased tax revenue that come from the fact

00:12:49.800 that people are building more factories than they would without this incentive

00:12:52.480 and by the way we've got a good track of people do you know yeah go ahead yeah

00:12:58.280 go ahead a great track record on this revenue revenues as a share of the economy before the tax

00:13:10.800 cuts and jobs act before the 2017 tax cut that everyone said it was going to blow such a big hole

00:13:15.000 in the deficit right such a big hole in the national budget 17.1 percent of gdp was revenues before tax

00:13:21.200 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

00:13:27.920 2017 uh there you know and corporate tax revenue went from 1.6 percent of gdp to 1.8 percent of gdp

00:13:34.420 so we cut corporate tax rates and yet corporate revenue grew as a share of the economy so we've got

00:13:39.280 a fantastic track record on this now in the fourth quarter i think of 2019 actually got to 3.3 percent

00:13:47.280 he averaged 2.8 but got to 3.3 dr maron where can people go myron where can people go to find out

00:13:53.400 more about this your social media you have a website i want people to get fully up to speed on what

00:13:57.840 reality is sure so we've got uh the research paper on our website as well as a chart book about the

00:14:05.400 deficit uh it's the council of economic advisors page on the white house website you can just search

00:14:10.940 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

00:14:17.580 twitter handle uh sorry an x handle at cea 47 uh i'm also at steve myron um but uh yeah you'll

00:14:24.220 you'll be hearing more from us doctor yes go on offense you guys have a great story to tell let's

00:14:31.300 tell it we're here at the war room to be your platform love it absolutely love it thank you so

00:14:36.120 much for joining us today thanks for having me president trump's got some pretty smart guys

00:14:44.340 working for him myron's one of them short commercial break we're gonna be back talking

00:14:51.200 about the big beautiful bill that's uh engulfing washington right now next

00:14:56.580 this july there is a global summit of brics nations in rio de janeiro the block of emerging

00:15:05.760 superpowers including china russia india and persia are meeting with the goal of displacing the united

00:15:13.100 states dollar as the global currency they're calling this the rio reset as brics nations push 0.99

00:15:20.140 forward with their plans global demand for u.s dollars will decrease bringing down the value

00:15:24.760 of the dollar in your savings while this transition won't not happen overnight but trust me it's going

00:15:31.720 to start in rio the rio reset in july marks a pivotal moment when brics objectives move decisively

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00:16:15.380 text bannon b-a-n-n-o-n to 989898 do it today that's the rio reset text bannon at 989898 and do it today

00:16:27.080 war room here's your host stephen k bann

00:16:30.900 okay in breaking news uh the senate just failed to remove illegal aliens from medicaid programs because

00:16:38.880 the parliamentarian changed the vote requirement to 60 votes from 51 she said it basically couldn't go into

00:16:44.620 a straight reconciliation uh you're seeing this happen a lot on various things um i think planned

00:16:51.080 parenthood the the defunding is only for a year not for 10 years uh caroline wren i i thank you for

00:16:57.940 taking time i know you had other things planned but for jumping in here just on the voterama is still

00:17:02.320 going on but they're you know you've got guys like tony perc and i'm not talking about elon

00:17:06.620 moss elon moss is just coming out to attack this is his vengeance on the president right calling and

00:17:11.840 once again calling for a third party this is after he tried to you know slam back in there and say he

00:17:18.640 was sorry and you know wanted to be the president's friend again now he's calling for a third party

00:17:23.200 a new party uh he's just land blasting this bill uh with a blunderbuss right not even looking at it in a

00:17:30.180 sophisticated manner and there's and don't get me wrong i have big issues with the lots in this bill

00:17:35.000 but then you have things like the parliament you got tony perkins and others is saying hey look

00:17:40.060 we've been working on this we think you get to the house but you just can't do a one-year cut

00:17:44.520 on planned parenthood the whole thing's got to go that's what we voted for and now you see

00:17:48.680 kind of just out of nowhere you got there's the parliamentarian makes a decision it can't go in for

00:17:54.980 the it can't go for the 51 you know just the majority the majority vote it has to get to 60

00:17:59.880 which is really break a filibuster which you're never going to do on the illegal aliens medicaid

00:18:04.620 and that there was the whole thing off because that's one of the biggest cuts for medicaid and

00:18:08.620 that's one that virtually all the republicans back so can you give us a sense in the senate first

00:18:13.480 uh where do you think this thing stands i understand there's deal making going on

00:18:17.820 and thune's got to look i i don't um you know thune's got a very tough job trying to wrangle

00:18:22.880 all these folks uh give us your sense of on the senate side of where we stand

00:18:26.980 isn't it incredible how they could pass obamacare through reconciliation but for some reason we

00:18:32.680 cannot roll back any of the uh you know provisions that made into obamacare through reconciliation

00:18:38.280 the parliamentarian strikes it out like that's why people are frustrated with this parliamentarian

00:18:42.540 is because it is just so uh duplicative what they are what they're what she's doing and so it's

00:18:47.620 extremely frustrating to watch there's no way the house is going to vote on a bill that includes

00:18:52.300 uh includes funding illegal aliens health care i'm telling you that right now and so there that

00:18:57.780 is definitely going to be something that's going to stall this senate bill a little bit they do have

00:19:01.640 some more time they were i think hoping to have the final passage today but uh due to some members

00:19:06.620 being on codels and different things on the house side i think it's uh there's no way really to vote

00:19:10.460 on this in the house side until wednesday but it's certainly an imperfect bill in fact the house

00:19:14.960 freedom caucus just came out and said that the senate version adds 651 billion to the deficit

00:19:19.840 y'all promised us it wouldn't add anything to the deficit and that was before special interest

00:19:23.600 costs which nearly doubled that total so um you know i've talked a lot with uh congressman andy

00:19:28.880 harris the head of the freedom caucus who's been incredible but the senate bill that they're

00:19:32.600 currently voting on right now is not going to be acceptable for the house there's no possible way

00:19:36.340 to get it through so they will have to make changes once it goes back over to the house side but

00:19:39.980 more importantly i mean i i'm hoping that this bill gets done and over um quickly quite frankly because

00:19:46.540 you know having campaigned as hard as we did especially with you steve as populist we have

00:19:51.540 to realize that we've spent the past few months promoting a new war in the middle east and talking

00:19:55.680 about cutting medicaid and these are these are not successful things where these are not things

00:20:01.400 that i know the maga base wants us to be talking about or focused on in fact the only successful

00:20:05.620 bill i've seen get through with some sort of crypto bill another like carve out for uh the the tech

00:20:11.140 industry here so i hope that the house will make the changes and we can get this done because if i were

00:20:15.960 the democrats there is a lot of messaging i could do against us right now

00:20:18.900 well but if the bill passes in its in its form i mean you saw what happened and people should take

00:20:27.120 new york city and i'm not talking about his radical his radical um solutions but the ground game he put

00:20:34.220 together and how he got to low information voters you've got to take that into consideration

00:20:37.860 uh when when you do this i mean this this guy there's some terrible messaging here and look i've

00:20:42.820 been an advocate from day one and the reason i i don't like this bill uh although i support the

00:20:47.720 president trying to get it done is it should raise taxes on the upper bracket that's one of the ways 0.98

00:20:52.700 that we can get the uh the math to work better uh and of course uh the republican party parts of that

00:20:59.280 are just absolutely uh you know opposed to that um right so when you say pass it i mean it has to

00:21:05.380 have a balance between like for instance in the old cutting medicaid with the meat acts we can't do

00:21:10.560 anymore for the simple reason that so many jobs have been shifted overseas so few people have

00:21:15.280 uh medical insurance so few companies are paying for it or even uh paying decent salaries that there's

00:21:21.580 a lot of maga on uh on on medicaid at the same time you've got to take illegal aliens off 100 percent 0.99

00:21:28.060 and the able-bodied have to work and i don't think it's in there a bed check once every six months is

00:21:35.320 enough i think it's got to be much more frequently that and if they can't make the bed check they got to

00:21:39.540 you know there's not a problem with working people uh able-bodied people having uh you know

00:21:45.920 having medicaid but if you're you know you don't have a job you're not searching for a job you're

00:21:50.640 not doing community work you're not going to college you know you got to check that frequently

00:21:54.860 if they're not going to do that they got to drop off the rolls those types of things i think have to

00:21:58.620 be in there right you have to take care of the rural hospital rural hospitals i believe although tom

00:22:03.580 tillis also has some of the tillis guys and and uh ran paul also have make sense in some of their

00:22:10.220 sayings so this thing i think needs to be refined more and we have to get the messaging right on this

00:22:16.440 or we're going to get crushed on this thing i mean i i see it right now and there's too many things

00:22:20.860 slid in here or they're trying to slow slide in here for the tech industry one is the artificial

00:22:26.740 intelligence right the 10-year moratorium about any state having any say so at all you know the

00:22:31.500 issues have cropped up on artificial intelligence all the time also the fact that the bottom line

00:22:36.420 is it takes you 10 times more regulation to open up a nail salon in washington dc than any regulation

00:22:43.680 on artificial intelligence right now and essentially they just want to take all regulation off it and

00:22:49.200 and have another big win for tech ma'am yeah when i say just passed i mean this the senate side is

00:22:55.840 i think an unacceptable bill but in the house they can go back to a lot of the house provisions which

00:22:59.900 included the things that you're talking about right now and so that's what i'm hoping is when

00:23:03.480 it gets kicked back over the house side then the house can actually uh and let the house freedom

00:23:07.700 caucus take the lead on these things and go back to fixing those the ai thing that you just mentioned

00:23:11.620 is horrible but but back to what you're talking about in new york city mondami i know you and i have

00:23:15.920 been talking a lot about this now things that mondami has said in the past are absolutely insane i have

00:23:20.540 no doubt that the man is a marxist socialist nut job but he did not campaign over the last four

00:23:25.760 months as that he campaigned essentially as steve bannon and there's a reason why he resonated the

00:23:30.700 way he did and if the democrats campaign like this they will crush us in the midterms and the democrats

00:23:35.400 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

00:27:46.280 getter and truth social

00:27:47.500 thank you ma'am appreciate you

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 you missed the irs tax deadline you think he's just going to go away well think again

00:28:32.860 the irs doesn't mess around and they're applying pressure like we haven't seen in years so if you

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00:29:26.540 troubles behind you put it behind you today call tax network usa at 1-800-958-1000 that's 800-958-1000

00:29:36.780 or visit tax network usa tnusa.com slash bannon do it today do not let this thing get ahead of you

00:29:46.480 do it today

00:29:47.240 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 0.99

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 1.00

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 0.99

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 1.00

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 0.99

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 1.00

00:41:26.340 the last you know three to five years we've been hemorrhaging our capabilities to the chinese and so 1.00

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 1.00

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 relation to the u.s dollar learn all about it particularly gold as a hedge and why you need

00:43:33.460 to understand gold now more than ever birchgold.com promo code bannon the end of the dollar empire get

00:43:40.260 it today we're gonna have philip patrick live from lax in the six o'clock hour short break

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00:44:37.060 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

00:45:16.580 the irs the irs in their mind they're going to come and get your money okay so if you've got a problem

00:45:21.780 with them you need advice from someone like tax network usa tnusa.com promo code bannon or

00:45:28.260 800-958-1000 if you have a letter from the irs if you're late filing if you haven't filed

00:45:35.060 stop the anxiety it's not the end of the world if you take action if you don't take action i'm not

00:45:40.740 saying it's the end of the world but it might be the end of your world so go to tax network usa

00:45:45.620 800-958-1000 tell them bannon sent you get a free consultation they've solved a billion dollars worth

00:45:52.260 of tax problems yours is not that big but it's causing you to lose sleep at night it shouldn't take

00:45:57.540 action today you will feel so much better 800-958-1000 tax network usa get those guys off

00:46:04.660 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

00:50:30.500 you can find us online at ai the aipn.org

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

00:52:38.660 moment

00:52:39.460 you

Bannon's War Room - June 30, 2025

Episode 4598： Big Beautiful Bill Fight Continues

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