Bannon's War Room

00:00:00.000 Okay, so we're going to look at the strongly approved numbers.

00:00:02.460 So this isn't just Republicans who like Donald Trump.

00:00:05.420 This is Republicans who love Donald Trump,

00:00:08.300 and he's up like a rocket.

00:00:09.620 Look at this.

00:00:10.120 In July 2017, the strongly approved was 53%.

00:00:12.900 That's pretty good.

00:00:13.760 But look at where he is now.

00:00:15.260 63% of Republicans strongly approved

00:00:18.840 of the job that Donald Trump is doing

00:00:20.600 about five months into his presidency.

00:00:23.680 Republicans love Donald Trump

00:00:25.360 the way that Americans love Disney World.

00:00:28.460 The bottom line is 63%.

00:00:30.500 That is a huge, huge base.

00:00:33.320 And, of course, it's just part of a Republican base

00:00:34.900 in which about 90% of them overall approve of him,

00:00:38.140 including the somewhat approves as well.

00:00:39.540 I mean, any politician would like this number here,

00:00:42.140 especially to see it go up.

00:00:43.540 How about compared to other presidents who were Republicans?

00:00:46.760 Yeah, it's history-making.

00:00:48.260 It's history-making.

00:00:49.120 What are we talking about here?

00:00:50.220 So why don't we look back?

00:00:51.260 We have all the presidents, Republican presidents,

00:00:53.240 going back over the last 35, 36, 37 years.

00:00:57.280 What are we talking about?

00:00:58.040 The GOP who strongly approved five months in.

00:01:00.280 Look at this.

00:01:01.040 George H.W. Bush, Bush 41, 46%.

00:01:04.100 Bush 43, 59.

00:01:05.740 You see Trump the first term, 53.

00:01:08.020 But look at this.

00:01:09.760 63%.

00:01:10.240 He beats all the other Republicans on the board here.

00:01:13.820 And I was looking even back since Reagan.

00:01:16.120 And get this.

00:01:16.820 Donald Trump beats Ronald Reagan

00:01:19.080 when it comes to the strongly approved five months in.

00:01:21.180 Of course, Reagan was coming off that high

00:01:22.740 after that assassination attempt.

00:01:24.080 So the bottom line is Donald Trump is making history

00:01:27.080 with the Republican base.

00:01:28.860 He is more beloved by this Republican base

00:01:31.240 than any Republican base loved any GOP president five months in.

00:01:36.460 It is history-making.

00:01:38.120 It is a striking number.

00:01:39.040 Till is stepping down, stepping aside

00:01:40.840 after President Trump threatened to primary him.

00:01:43.640 The question is, how effective is Trump's endorsement?

00:01:46.800 We know it can hurt, but how effective is it?

00:01:48.620 Yeah, okay.

00:01:49.340 So, you know, the bottom line is,

00:01:50.680 if you're a Republican lawmaker,

00:01:51.880 you see this 63%, you say,

00:01:53.820 my goodness gracious,

00:01:55.040 you do not want to go against Donald Trump

00:01:56.520 because the Republican base is with Donald Trump.

00:01:58.540 And it's not just the polling.

00:01:59.780 We actually have the data

00:02:01.260 to show that the Republican base is with Donald Trump.

00:02:04.300 The times Trump endorse these

00:02:06.180 won the GOP primary for governor

00:02:08.160 in congressional races.

00:02:09.360 Look at this.

00:02:10.000 2024, 96%.

00:02:11.380 2022, 95%.

00:02:13.020 2020, 98%.

00:02:14.900 The bottom line is this.

00:02:16.700 95% plus of the time,

00:02:19.080 the Trump-endorsed candidate wins in GOP primaries.

00:02:22.080 And even in the cases

00:02:23.120 where Donald Trump endorses a challenger to an incumbent,

00:02:25.760 the majority of time, that challenger wins.

00:02:28.480 So Donald Trump is a winner in Republican primaries.

00:02:31.300 You go against Donald Trump,

00:02:32.740 to quote the movie Good Burger,

00:02:34.120 you go in the grinder.

00:02:35.720 Donald Trump is the key nugget.

00:02:38.240 His endorsement is the key nugget in a GOP primary

00:02:40.120 because he's historically strongly popular with the GOP base.

00:02:44.900 This is the primal scream of a dying regime.

00:02:50.700 Pray for our enemies

00:02:51.900 because we're going medieval on these people.

00:02:55.940 Here's the time I got a free shot

00:02:57.120 at all these networks lying about the people.

00:03:00.200 The people have had a belly full of it.

00:03:02.100 I know you don't like hearing that.

00:03:03.540 I know you try to do everything in the world to stop that,

00:03:05.300 but you're not going to stop it.

00:03:06.220 It's going to happen.

00:03:07.280 And where do people like that go to share the big line?

00:03:10.900 MAGA media.

00:03:11.800 I wish in my soul,

00:03:14.060 I wish that any of these people had a conscience.

00:03:17.680 Ask yourself, what is my task and what is my purpose?

00:03:21.440 If that answer is to save my country,

00:03:24.640 this country will be saved.

00:03:27.800 War Room.

00:03:28.660 Here's your host, Stephen K. Bannon.

00:03:31.040 It's Tuesday, 1 July, Year of the Lord, 2025.

00:03:40.640 I want to go to the airport.

00:03:41.980 And Mike Davis, who's about to fly out of town,

00:03:44.440 and we've got him only because there's a massive storm

00:03:46.500 in the Imperial Capitol.

00:03:47.560 It's delayed some flights.

00:03:49.180 Mike Davis, the big, beautiful bill,

00:03:50.760 kind of lurched to its approval this afternoon,

00:03:54.420 already in the House tomorrow.

00:03:55.500 We know it's going to be a pretty big fight.

00:03:57.040 We've got some pretty good clips we'll play

00:04:00.760 of some folks that said they're not terribly excited about this.

00:04:04.840 But we'll all work through that.

00:04:06.420 But one of the biggest things that was done

00:04:08.680 was taking down the artificial intelligence

00:04:13.100 from the tech bros.

00:04:14.800 You've done some more research this afternoon.

00:04:17.200 How do we do it, sir?

00:04:18.360 This was a pull-the-rabbit-out-of-the-hat win.

00:04:23.840 And I want to give credit to these people in this order.

00:04:28.880 I want to give the credit to President Trump,

00:04:31.340 who resisted tremendous pressure,

00:04:35.160 tremendous pressure to back this AI amnesty.

00:04:39.820 And he didn't do it.

00:04:41.420 And I want to thank Marcia Blackburn,

00:04:44.600 the great senator from Tennessee,

00:04:48.020 along with her fantastic staff,

00:04:50.560 including Katie Lane, the chief of staff,

00:04:52.480 who's my good friend, the wife of Bill Lane,

00:04:56.360 who was an Article III project volunteer attorney

00:04:58.800 for many years and now a nominee

00:05:00.340 for a top Pentagon host.

00:05:04.700 Congresswoman Marjorie Taylor Greene, MTG,

00:05:08.200 is a rock-solid ally.

00:05:10.040 Stephen C. Bannon and his team

00:05:14.420 and the War Room Posse,

00:05:15.560 that is the secret sauce to all of this.

00:05:19.240 And the Article III project, of course,

00:05:20.920 teaming up with the War Room Posse,

00:05:22.780 we lit up the Senate.

00:05:25.100 We had 3,000 activists make over 9,000 contacts

00:05:29.500 with their home state senators,

00:05:31.240 and we scared the hell out of them.

00:05:33.380 This was going to fail.

00:05:35.280 At 2 o'clock in the morning,

00:05:36.740 there were reports that the lead proponent

00:05:39.900 of this AI amnesty

00:05:41.080 thought that only three Republicans

00:05:43.040 would defect.

00:05:44.640 And by the end of the night,

00:05:46.500 by 5 o'clock in the morning,

00:05:48.740 this went down 99 to 1,

00:05:50.860 including the lead proponents

00:05:52.520 voting against his own bill.

00:05:54.980 That's how powerful the War Room Posse is.

00:06:00.320 Yeah, no, it also,

00:06:01.700 it speaks to how radioactive

00:06:03.520 what the ask was.

00:06:05.120 This was so huge.

00:06:06.200 The reason we fought this so hard

00:06:07.800 is that, hey,

00:06:09.320 this is just making sure

00:06:10.700 AI is totally unchained.

00:06:12.320 That cannot happen.

00:06:13.760 He had a lot of things

00:06:14.380 about the creators

00:06:15.000 and the children

00:06:15.560 and Marsha Blackburn

00:06:16.400 has done such an amazing job on this.

00:06:18.560 But it was not for Marsha Blackburn

00:06:20.440 because here's the thing.

00:06:21.420 This thing was so radioactive,

00:06:23.580 everybody, including Ted Cruz,

00:06:25.500 ran away from it, okay?

00:06:27.200 Ran away from it.

00:06:28.020 He's the biggest proponent

00:06:29.080 of trying to get it done.

00:06:30.460 Ran away from it.

00:06:31.480 MTG and Marsha Blackburn

00:06:32.840 and Senator Blackburn's staff

00:06:34.660 that really went to the,

00:06:36.580 and of course, Mike Davis

00:06:37.780 and all the Article 3 team,

00:06:39.460 just incredible,

00:06:40.220 War Room Posse,

00:06:41.320 Bill Blaster,

00:06:42.180 people were loaded up into that,

00:06:43.560 hammering, hammering, hammering,

00:06:45.340 making sure the Senate offices

00:06:47.060 knew that the people,

00:06:49.560 the populist movement

00:06:50.460 was awake here,

00:06:51.340 and hey,

00:06:51.700 we looked at this thing

00:06:52.380 and we don't want it.

00:06:53.380 We don't want any compromise,

00:06:54.720 no two-year,

00:06:56.000 because they had all kind of compromise.

00:06:57.180 It's going to be five-year,

00:06:57.940 it's going to be two-year,

00:06:58.600 you're going to do this.

00:06:59.160 No.

00:06:59.520 How about this?

00:07:00.100 Pull it out of the bill.

00:07:01.520 And then when the president

00:07:02.860 really had Marsha Blackburn's back,

00:07:06.740 that's when you saw

00:07:08.080 that this thing was getting pulled.

00:07:09.380 And kudos to President Trump

00:07:11.520 to finally making sure

00:07:12.920 that he had MAGA's back

00:07:14.840 and it's a huge MAGA win.

00:07:16.420 Now, there's a lot of people,

00:07:17.560 journalists calling Mike Davis

00:07:18.740 and us all day,

00:07:19.520 there's a lot of people

00:07:20.300 trying to take credit for this.

00:07:21.480 Let me be blunt, okay?

00:07:24.320 Marsha Blackburn was a hero,

00:07:26.160 stepped into the breach,

00:07:27.600 would not take a compromise,

00:07:29.440 had her staff working nonstop.

00:07:31.340 MTG was saying

00:07:32.200 she was not going to vote in the House.

00:07:33.600 And the president understands

00:07:35.100 that MTG is one of his fiercest defenders.

00:07:37.960 And of course, Mike Davis,

00:07:38.960 your team,

00:07:39.500 and all the war and posse

00:07:40.460 who just continued to pound

00:07:41.980 with calls, text messages,

00:07:43.840 all of it.

00:07:44.460 And that's what it took.

00:07:45.780 And it's a historic victory.

00:07:47.500 And it put the Burligarchs on notice

00:07:50.180 that you're just not going to get

00:07:51.760 everything you want

00:07:52.740 and you're not going to get it unfettered.

00:07:54.200 You want to fight?

00:07:55.420 We're prepared to fight.

00:07:56.740 And you've seen Elon,

00:07:57.980 you know, Elmo all day

00:07:59.180 is tweeting

00:08:01.360 and trying to get up

00:08:02.100 in President Trump's face

00:08:03.280 about nonsense.

00:08:05.020 A guy who, I might add,

00:08:07.500 didn't come up with one penny of cuts

00:08:09.820 that he promised

00:08:10.840 of the trillion dollars.

00:08:12.500 Mike Davis,

00:08:13.200 this is so important

00:08:14.260 and it gives us momentum

00:08:15.580 and about, look,

00:08:17.080 we've got Andrew Ferguson's

00:08:19.260 got Metta in court

00:08:20.480 under the FTC

00:08:22.240 trying to break Facebook up.

00:08:25.320 You've got Google

00:08:26.160 being broken up,

00:08:27.300 Gail Slater.

00:08:28.380 Where do we go next?

00:08:29.640 How do we keep this momentum

00:08:30.860 against the tech bros, sir?

00:08:33.220 Well, this is important

00:08:34.280 because they keep going after this

00:08:35.980 many, many different ways.

00:08:37.720 We started the

00:08:38.500 Internet Accountability Project,

00:08:40.260 the sister organization,

00:08:41.320 Article 3 Project,

00:08:42.300 to take on these trillion dollar

00:08:44.720 big tech monopolies.

00:08:45.980 Google, Amazon, Facebook, and Apple.

00:08:48.060 I started this with Rachel Bovard

00:08:49.780 over five years ago.

00:08:51.040 Gail Slater may have had

00:08:53.140 a big hand in this,

00:08:54.320 a good friend and an ally.

00:08:56.220 And we took on these

00:08:57.860 big tech oligarchs

00:08:58.920 on antitrust,

00:08:59.900 Section 230,

00:09:01.240 data privacy.

00:09:02.640 We were laughed at.

00:09:04.000 We were laughed at.

00:09:04.860 They're not laughing anymore.

00:09:06.260 We have,

00:09:06.820 I'll break some news.

00:09:07.660 The president of the United States

00:09:08.700 just called me

00:09:09.660 right before this call

00:09:11.360 and he is very proud

00:09:12.300 pleased with

00:09:13.820 what we're doing

00:09:14.880 in this fight.

00:09:15.880 He knows

00:09:16.700 that we're on the right side

00:09:18.360 on these issues,

00:09:19.280 whether it's judges,

00:09:20.500 whether it's big tech.

00:09:22.180 And sometimes

00:09:22.720 he needs a reminder

00:09:24.080 that these

00:09:25.080 tech bros

00:09:26.660 who pretend like

00:09:27.380 they're his buddy

00:09:28.160 after he won

00:09:29.280 tried to

00:09:30.560 bankrupt him

00:09:31.960 for non-fraud.

00:09:34.040 They worked with

00:09:34.820 the Democrats

00:09:35.320 to censor,

00:09:36.220 silence the platform,

00:09:37.840 cancel conservatives.

00:09:38.980 They worked with Democrats

00:09:39.880 to chase him

00:09:40.720 out of office

00:09:41.380 in 2020

00:09:42.960 with $400 million

00:09:43.980 from Mark Zuckerberg

00:09:45.960 and all the other

00:09:46.700 tech bros

00:09:47.920 at Google,

00:09:48.500 Amazon,

00:09:48.900 Facebook,

00:09:49.400 and Apple

00:09:49.900 who helped

00:09:52.440 rig and steal

00:09:53.160 the election

00:09:53.780 in 2020.

00:09:55.800 President Trump

00:09:56.580 remembers he faced

00:09:57.500 four years

00:09:58.020 of unrelenting

00:09:58.780 lawfare,

00:09:59.860 unprecedented lawfare,

00:10:01.340 from bankrupting him

00:10:03.180 for non-fraud,

00:10:04.180 trying to throw him

00:10:04.940 in prison

00:10:05.420 for life,

00:10:07.060 four times

00:10:07.580 for non-crimes,

00:10:08.300 trying to throw him

00:10:08.960 off the ballot

00:10:09.640 in several states

00:10:11.060 unconstitutionally,

00:10:12.520 and then President

00:10:13.480 Trump's opponents

00:10:14.180 tried to take off

00:10:15.480 his head

00:10:15.860 when they underfunded

00:10:16.760 his Secret Service

00:10:18.300 protection twice.

00:10:20.580 And so,

00:10:21.180 my job

00:10:22.160 at the Article 3

00:10:23.000 project

00:10:23.400 is to constantly

00:10:24.400 remind the President

00:10:25.580 and his team

00:10:26.400 who are his friends

00:10:28.420 and who are his enemies

00:10:29.280 in big tech.

00:10:31.060 Google,

00:10:31.440 Amazon,

00:10:31.920 Facebook,

00:10:32.360 and Apple

00:10:32.740 are definitely

00:10:33.580 President Trump

00:10:34.460 and MAGA's enemies.

00:10:35.240 Mike Davis,

00:10:39.400 great victory.

00:10:40.560 We get so many ahead

00:10:41.740 as tech and AI

00:10:43.120 become such an important

00:10:44.320 part of American life

00:10:45.480 from the schools

00:10:46.360 and education,

00:10:47.680 everything,

00:10:48.540 consumer,

00:10:49.680 government,

00:10:50.820 military,

00:10:51.380 all of it.

00:10:52.100 We've got to make sure

00:10:52.960 that the people's voice,

00:10:54.160 that the populist movement

00:10:55.920 here has their voice heard

00:10:57.400 and really listened to

00:10:59.060 in this fight.

00:11:00.360 So I just want to

00:11:00.920 thank you.

00:11:01.980 I want to thank you again.

00:11:03.280 Just excellent work

00:11:04.400 and the Warren Posse.

00:11:05.480 So glad to jump in

00:11:07.240 and assist

00:11:07.780 and be part of

00:11:08.340 the Article 3 project.

00:11:09.480 So thank you so much.

00:11:10.740 Appreciate you, brother.

00:11:11.460 Where do people go

00:11:12.700 for your Twitter

00:11:13.360 to go to Article 3?

00:11:15.000 We've got many more

00:11:15.780 fights ahead

00:11:16.500 of victory,

00:11:17.880 but not the final victory.

00:11:20.300 Yeah, remember,

00:11:21.340 they're going to keep doing,

00:11:22.600 big tech is going to

00:11:24.000 keep trying to do

00:11:25.100 this AI amnesty

00:11:26.560 to steal everyone's

00:11:27.560 copyrights

00:11:28.340 every chance they can.

00:11:29.700 We stop them

00:11:30.540 when they try to get

00:11:31.660 a brief

00:11:32.420 from the Justice Department

00:11:33.680 saying stealing

00:11:35.060 copyrights

00:11:36.300 is fair use

00:11:36.920 under the copyright laws.

00:11:38.060 We shut that down.

00:11:38.940 We shut down

00:11:39.680 where they tried

00:11:40.640 to get backdoor access

00:11:41.780 to every copyright

00:11:42.840 in the world

00:11:43.320 when they fired

00:11:43.900 the Librarian of Congress

00:11:45.820 and the Register of Copyrights.

00:11:48.620 And we got good people

00:11:50.560 in there

00:11:50.860 with Todd Blanche

00:11:51.700 and Paul Perkins

00:11:52.480 to protect

00:11:53.140 the copyrights.

00:11:54.460 They tried to do

00:11:55.080 this AI amnesty.

00:11:56.360 These big tech bros

00:11:57.620 are going to constantly

00:11:58.560 try to go after

00:11:59.620 copyrights,

00:12:01.340 going after kids,

00:12:02.420 going after conservatives.

00:12:03.600 They don't care.

00:12:04.800 They're just trying

00:12:05.360 to make a lot of money

00:12:07.100 and they don't care

00:12:07.780 who gets hurt

00:12:08.380 along the way.

00:12:09.440 The Article 3 Project

00:12:10.580 and Bannon's

00:12:11.820 War Room Posse,

00:12:12.900 we're going to make

00:12:13.540 damn sure

00:12:14.240 that we're on guard

00:12:15.560 and we're protecting

00:12:16.280 this every step of the way.

00:12:17.980 And you can go

00:12:18.580 to article3project.org,

00:12:21.140 article3project.org.

00:12:23.200 You can donate,

00:12:24.120 follow us on social media.

00:12:26.120 And the superpower

00:12:27.380 of the War Room Posse

00:12:28.520 is action,

00:12:29.560 action, action.

00:12:30.200 Action, action, action.

00:12:33.460 Thank you, Mike.

00:12:34.600 You can now go,

00:12:35.860 get in line

00:12:36.400 to board your plane

00:12:37.160 and hopefully

00:12:37.600 it takes off

00:12:38.280 in this pretty bad storm.

00:12:40.580 Thank you.

00:12:41.220 Bye.

00:12:43.440 The Imperial Capitol

00:12:44.540 has been so hot.

00:12:45.360 It was like 100 degrees

00:12:46.340 last week.

00:12:46.920 Very hot and very muggy.

00:12:48.960 If you want to see

00:12:49.440 Washington at its finest,

00:12:52.240 today's one of the days.

00:12:55.640 Natalie G. Winters

00:12:56.640 is with us.

00:12:57.260 Natalie G. Winters.

00:12:58.020 Thank you.

00:12:59.360 Welcome, welcome.

00:13:00.500 Next man up,

00:13:01.420 Natalie G. Winters.

00:13:02.240 How are you doing, Natalie G?

00:13:04.600 Good.

00:13:05.160 Well, before you interrupt me

00:13:06.760 and tell me to hang on

00:13:08.380 or that I'm your agent,

00:13:09.700 I think I speak

00:13:10.660 on behalf of the Posse

00:13:12.620 when we all say

00:13:13.640 happy one-year anniversary.

00:13:15.320 I know that's typically

00:13:16.320 a positive connotation,

00:13:17.880 which I think

00:13:18.340 holds true for you.

00:13:19.960 But I think

00:13:20.320 first and foremost,

00:13:21.100 thank you to our audience.

00:13:22.540 I think the last words

00:13:23.700 I said before you returned,

00:13:25.840 you know,

00:13:26.100 we always say

00:13:26.540 a republic if you can keep it.

00:13:28.060 Well, a war room

00:13:28.900 if you can keep it

00:13:29.760 and we certainly kept it

00:13:31.000 when you went to prison

00:13:32.240 thanks to our audience.

00:13:33.360 But also,

00:13:33.860 I think I speak

00:13:34.480 on behalf of our audience,

00:13:35.760 frankly, the country

00:13:36.440 and I say thank you

00:13:37.380 to you, Steve.

00:13:38.780 I know the Democrats

00:13:39.440 are wasting $20 million

00:13:40.660 to understand

00:13:41.720 what masculinity is,

00:13:43.000 but I think they maybe

00:13:43.960 should come by the embassy

00:13:45.440 and talk to you

00:13:46.620 because not only

00:13:47.440 are you a real man,

00:13:48.280 but you're a true patriot.

00:13:49.580 I'm not paid to say this.

00:13:50.880 It's all true.

00:13:51.620 The audience agrees with me.

00:13:52.820 So thank you

00:13:53.680 from the bottom of my heart

00:13:54.680 showing me

00:13:55.160 what it means to be a leader

00:13:56.100 and giving me the chance

00:13:57.860 to just host War Room

00:13:59.340 and everything you've done for me.

00:14:01.020 So thank you

00:14:01.520 and I know our audience

00:14:02.240 thanks you too

00:14:02.920 and so does our country.

00:14:04.900 No, you guys stepped in the breach.

00:14:07.280 Here's my operating instructions

00:14:09.680 knowing I'd be gone

00:14:10.480 for four months

00:14:11.200 on a show

00:14:12.060 that is four hours a day

00:14:13.960 and two on Saturday.

00:14:16.000 My total instructions were

00:14:17.760 next man up.

00:14:19.280 You'll figure it out

00:14:20.040 and they did.

00:14:20.640 I was so proud

00:14:21.560 of all the co-hosts.

00:14:21.680 You still owe me

00:14:22.360 the phone call

00:14:23.240 before you went to prison

00:14:25.640 to tell me what to do.

00:14:27.880 So let's not go back to prison.

00:14:29.820 I know some people

00:14:30.520 are tweeting about that today,

00:14:31.980 but you still owe me

00:14:33.720 that phone call.

00:14:34.020 That's right.

00:14:36.000 We may have something

00:14:37.060 to say about that.

00:14:38.020 Natalie G. Winters

00:14:38.780 is with us.

00:14:39.560 The big bill,

00:14:41.020 beautiful bill

00:14:41.560 going to the house.

00:14:42.600 Natalie's got a lot

00:14:43.280 to say about this.

00:14:44.280 We're going to deconstruct it.

00:14:45.860 We're pretty packed

00:14:46.960 for the next hour

00:14:48.100 and 45 minutes.

00:14:49.260 Stick around.

00:14:50.540 You're in the war room.

00:14:51.180 And we got a team

00:14:52.080 we're trying to track down

00:14:53.000 in Brazil

00:14:53.920 at the Rio Reset.

00:14:56.420 Birchgold.com.

00:14:57.840 Stick around.

00:14:58.540 You're in the war room.

00:15:00.120 This July,

00:15:00.840 there is a global summit

00:15:01.980 of BRICS nations

00:15:03.140 in Rio de Janeiro.

00:15:04.820 The block

00:15:05.260 of emerging superpowers,

00:15:07.080 including China,

00:15:08.060 Russia,

00:15:08.520 India,

00:15:09.180 and Persia,

00:15:10.460 are meeting

00:15:10.920 with the goal

00:15:11.680 of displacing

00:15:12.560 the United States dollar

00:15:13.920 as the global currency.

00:15:15.840 They're calling this

00:15:16.920 the Rio Reset.

00:15:18.280 As BRICS nations

00:15:19.780 push forward

00:15:20.420 with their plans,

00:15:21.260 global demand

00:15:21.880 for U.S. dollars

00:15:22.640 will decrease,

00:15:23.780 bringing down

00:15:24.280 the value of the dollar

00:15:25.300 in your savings.

00:15:26.960 While this transition

00:15:27.960 won't not happen overnight,

00:15:30.540 but trust me,

00:15:31.360 it's going to start

00:15:32.260 in Rio.

00:15:33.420 The Rio Reset

00:15:34.460 in July

00:15:35.080 marks a pivotal moment

00:15:36.360 when BRICS objectives

00:15:37.820 move decisively

00:15:38.880 from a theoretical possibility

00:15:40.960 towards

00:15:41.620 inevitable reality.

00:15:43.700 Learn if diversifying

00:15:46.520 your savings

00:15:47.300 into gold

00:15:47.860 is right for you.

00:15:48.680 Birch Gold Group

00:15:49.560 can help you move

00:15:50.900 your hard-earned savings

00:15:52.140 into a tax-sheltered

00:15:53.300 IRA and precious metals.

00:15:55.160 Claim your free

00:15:55.900 info kit on gold

00:15:57.020 by texting

00:15:57.900 my name,

00:15:58.480 Bannon,

00:15:58.840 that's B-A-N-N-O-N,

00:16:00.600 to 989898.

00:16:02.360 With an A-plus rating

00:16:03.800 with the Better Business Bureau

00:16:05.020 and tens of thousands

00:16:06.340 of happy customers,

00:16:07.720 let Birch Gold

00:16:08.540 arm you with a free,

00:16:09.900 no-obligation info kit

00:16:11.420 on owning gold

00:16:12.240 before July

00:16:13.120 and the Rio Reset.

00:16:16.180 Text Bannon,

00:16:16.920 B-A-N-N-O-N,

00:16:18.100 to 989898.

00:16:20.580 Do it today.

00:16:21.840 That's the Rio Reset.

00:16:23.680 Text Bannon

00:16:24.400 at 989898

00:16:26.420 and do it today.

00:16:27.580 Use your host,

00:16:28.820 Stephen K. Bannon.

00:16:34.360 You know,

00:16:35.060 the framing of this bill,

00:16:36.600 I don't,

00:16:37.840 I'm not a fan

00:16:38.580 of the way

00:16:38.900 it's been framed.

00:16:41.420 What I don't,

00:16:44.000 I'm not a fan of,

00:16:45.180 and maybe some people

00:16:46.280 think it's effective,

00:16:47.140 I just don't happen to,

00:16:48.300 but that's fine,

00:16:49.700 is that talking about

00:16:50.620 the $1.5 trillion

00:16:51.720 over 10 years,

00:16:52.960 I think it gets very confusing,

00:16:54.580 very nebulous,

00:16:55.380 and plus it's,

00:16:56.740 I don't know,

00:16:57.920 $89 trillion

00:16:58.740 in spending

00:16:59.700 over that time.

00:17:02.800 And those are cuts,

00:17:04.340 and it has some sort

00:17:05.380 of mathematical meaning.

00:17:07.200 And the Congressional Budget Office

00:17:08.760 takes that,

00:17:09.200 and there's a debate,

00:17:09.920 it adds $3.5 trillion.

00:17:10.820 These numbers

00:17:11.780 are so big,

00:17:12.920 they're such in the out years

00:17:14.160 and the confusing.

00:17:15.540 I'd just like to step

00:17:16.400 to the current.

00:17:18.200 President Trump

00:17:18.960 and Scott Besson

00:17:20.200 have an economic model

00:17:21.660 that they've thought through,

00:17:23.680 that economic model

00:17:24.880 is to unleash

00:17:25.760 the power

00:17:26.520 of American capitalism

00:17:28.740 for growth,

00:17:30.040 to get growth back here.

00:17:31.140 That's why it's called

00:17:31.720 a supply-side cut.

00:17:32.720 Scott Besson said

00:17:33.600 on this show,

00:17:34.700 I don't know,

00:17:36.280 I think the first time

00:17:37.660 he talked about it

00:17:38.560 was in the spring

00:17:39.340 of 2024.

00:17:41.580 And what he said

00:17:42.520 is that this is probably

00:17:43.560 the last chance

00:17:44.300 we have to get

00:17:44.900 a supply-side tax cut.

00:17:46.060 It was really focused

00:17:46.760 on production

00:17:47.440 and capital investment

00:17:48.680 and the generation of jobs.

00:17:51.200 And clearly,

00:17:52.080 President Trump

00:17:52.540 wants to extend

00:17:53.420 the tax cut

00:17:54.260 for the working class

00:17:55.100 and middle class

00:17:55.700 because not to do that

00:17:57.000 would be catastrophic

00:17:57.960 to their own

00:17:58.500 personal finances.

00:17:59.320 But obviously,

00:18:01.600 there was a little fight

00:18:03.500 to extend for the wealthy.

00:18:05.300 Obviously,

00:18:05.860 we said in the war room

00:18:06.860 we shouldn't do that.

00:18:07.880 We should have the wealthy

00:18:08.740 pay it a 40% rate

00:18:10.380 and that would actually

00:18:12.940 bring that into deficit

00:18:13.720 even more

00:18:14.420 and Scott would get

00:18:15.720 from the 6.5%

00:18:17.080 or 7%

00:18:17.680 where we are now

00:18:18.520 of deficit to GDP

00:18:20.000 down to something

00:18:20.720 manageable of 3%.

00:18:22.620 One of the worst things

00:18:24.620 about Elon Musk,

00:18:25.640 he came in here

00:18:26.180 with all this fanfare

00:18:27.080 and let me be brutally frank

00:18:28.240 and particularly for the

00:18:29.100 Elon Musk fanboys.

00:18:30.260 Please write this down.

00:18:31.200 He found nothing.

00:18:32.900 Nothing.

00:18:33.920 The USAID and all that,

00:18:35.280 these were programmatic things

00:18:36.780 that MTG

00:18:37.580 and Eli Crane and people

00:18:38.700 had fought for years.

00:18:40.760 Okay?

00:18:41.200 He got a little publicity

00:18:42.240 about it,

00:18:42.520 but about the key thing

00:18:43.600 of waste, fraud, and abuse

00:18:44.900 to show us

00:18:46.340 that remember

00:18:47.140 the state of the Union

00:18:50.100 or the Joint Justice of Congress

00:18:51.260 with all of the Social Security,

00:18:53.220 you know,

00:18:53.440 three and a half minutes

00:18:54.660 of 200-year-old people

00:18:56.000 getting Social Security.

00:18:56.880 They did not come back

00:18:58.620 and give us one penny

00:19:00.280 of fraud.

00:19:02.420 The same with Medicaid

00:19:03.280 and Medicare.

00:19:04.460 Not that Medicaid's

00:19:06.080 not rife with fraud.

00:19:07.280 Not that the Defense Department's

00:19:08.460 not rife with abuse.

00:19:09.940 That's what we kept saying

00:19:10.820 on the show,

00:19:11.320 banging on the table.

00:19:12.140 You got to cross the Pentagon.

00:19:13.200 You got to cross the Pentagon.

00:19:14.240 But of course,

00:19:15.440 he wasn't going to do anything

00:19:16.520 because he's a government contractor.

00:19:19.880 That left the political class

00:19:21.640 off the hook.

00:19:22.240 So we did not get

00:19:23.940 all the cuts

00:19:24.620 that we need in this.

00:19:25.640 There's no doubt about that.

00:19:28.060 However,

00:19:28.660 given the circumstances,

00:19:30.640 there's some good,

00:19:31.640 there's definitely

00:19:32.260 some good cuts in here,

00:19:33.260 right?

00:19:33.520 But also,

00:19:34.180 you have a sensitive moment now

00:19:35.440 where you just can't go

00:19:36.240 into Medicaid

00:19:36.720 like you used to

00:19:37.360 because the lack of jobs

00:19:39.320 for the working class

00:19:40.420 and the lack of medical insurance

00:19:41.980 for the working class

00:19:42.860 means that you have to be

00:19:44.180 very sophisticated

00:19:44.880 about how you do this.

00:19:45.920 But the key thing

00:19:48.120 is what is the economic model

00:19:49.760 going forward?

00:19:50.480 And that is why,

00:19:51.360 and Natalie's going to talk

00:19:52.120 in a moment

00:19:52.560 about rare earths

00:19:53.600 and the centrality

00:19:54.400 of rare earths

00:19:55.160 into the manufacturing production

00:19:56.700 of not just the automotive industry

00:19:58.980 but virtually every industry

00:20:00.260 that we have

00:20:00.860 including big tech.

00:20:03.020 The model itself says

00:20:04.980 President Trump

00:20:06.180 in his first term

00:20:07.000 had averaged 2.8% growth

00:20:09.200 in those three years.

00:20:10.400 In the fourth quarter

00:20:11.680 of 2019,

00:20:14.300 before the Chinese

00:20:15.520 really unleashed

00:20:16.800 the bioweapon

00:20:17.880 that we call the pandemic

00:20:18.960 on the United States

00:20:20.060 of America,

00:20:21.760 the growth was 3.4%

00:20:23.840 in the fourth quarter

00:20:25.300 with blue collar wages

00:20:27.140 rising faster

00:20:28.280 than white collar wages,

00:20:29.920 non-college graduates wages

00:20:31.760 rising higher

00:20:32.840 than college graduates.

00:20:33.840 It was actually

00:20:34.620 everything we'd fought for,

00:20:35.780 lower interest rates,

00:20:36.660 low inflation.

00:20:37.840 He had kind of

00:20:38.740 pulled off the trifecta.

00:20:40.640 That's what he's trying

00:20:41.200 to do today

00:20:41.640 but even more aggressive

00:20:42.940 on the business cuts

00:20:44.120 for capital investment.

00:20:45.280 Bigger write-offs,

00:20:46.340 you know,

00:20:46.720 write-off everything

00:20:48.060 in period zero

00:20:49.000 to be very aggressive

00:20:50.740 in bringing manufacturing jobs back

00:20:53.100 and those who are not

00:20:53.820 going to bring

00:20:54.120 manufacturing jobs back,

00:20:55.780 he's going to have tariffs.

00:20:56.760 You're going to have tariffs

00:20:57.520 and he said,

00:20:57.900 hey, look,

00:20:58.380 if Lutnik and Besson

00:20:59.360 can't cut these deals,

00:21:00.280 that's fine.

00:21:00.700 I'm just going to send you

00:21:01.320 a letter

00:21:01.560 and that's what you're paying.

00:21:02.400 So you have the combination

00:21:04.140 of deregulation

00:21:05.060 which is deconstruction

00:21:06.160 of the administrative state,

00:21:07.580 you have trade relationships,

00:21:10.120 tariff,

00:21:10.560 if you're not going to come back,

00:21:11.940 if you come back and reshore,

00:21:13.680 then guess what?

00:21:14.420 All that capital investment

00:21:15.480 happens here,

00:21:16.160 all the constructions

00:21:16.940 happens here,

00:21:17.460 the new jobs happen here

00:21:18.640 and in the ecosystem

00:21:19.980 of factories

00:21:20.660 and this is where

00:21:21.720 Lena Kahn

00:21:22.360 was an absolute expert.

00:21:23.600 It's not just a factory,

00:21:24.680 it's the whole ecosystem

00:21:25.620 around it.

00:21:26.900 This is what's called

00:21:27.800 a virtuous circle.

00:21:29.120 This is what

00:21:29.700 a supply side cut's about.

00:21:31.660 Is the supply side cut,

00:21:32.980 tax cut perfect?

00:21:34.380 No.

00:21:34.940 Once again,

00:21:35.500 I would certainly like to

00:21:37.240 do a substantial snapback

00:21:40.800 just to the old rates

00:21:42.220 for the upper bracket

00:21:43.660 or set at a millionaire's rate

00:21:45.340 at 40%.

00:21:46.480 But Shazam,

00:21:48.440 yesterday,

00:21:49.560 and we'll talk about

00:21:50.160 when Bachi gets up here,

00:21:51.920 to pay for the rural hospitals,

00:21:53.840 I think Susan Collins

00:21:54.640 put forward a plan

00:21:55.420 of like $25 to $50 billion.

00:21:57.720 18 Republicans

00:21:59.040 voted for a tax increase

00:22:01.660 on the wealthy.

00:22:02.340 Now,

00:22:02.460 I think the wealthy

00:22:03.040 were over like $25 million,

00:22:04.940 right?

00:22:05.580 And for a couple

00:22:06.320 of $50 million,

00:22:07.300 so it's like the super wealthy.

00:22:09.100 But the Republican Party

00:22:10.720 actually had 18 senators

00:22:14.220 in the United States Senate

00:22:16.300 that voted

00:22:17.300 to raise taxes

00:22:19.040 on the wealthy.

00:22:21.440 That is the beginning of,

00:22:23.140 that's a little bit of dawn

00:22:24.360 on the horizon, right?

00:22:25.360 When I keep saying

00:22:26.160 about the sunlit uplands,

00:22:27.480 you can see it

00:22:28.300 way in the distance.

00:22:29.620 That's a glimmer right there

00:22:31.240 that people understand

00:22:32.780 in this,

00:22:33.160 in this shared experience

00:22:34.380 we call the United States

00:22:35.480 of America.

00:22:36.360 Things like that

00:22:37.180 are going to have to happen.

00:22:39.340 So overall,

00:22:40.840 is this thing perfect?

00:22:41.980 No, it's not perfect.

00:22:42.780 But does it get

00:22:43.680 to the core of promises

00:22:45.340 and commitments

00:22:46.080 of President Trump?

00:22:46.880 Yes, it does.

00:22:47.840 Not all of them perfectly,

00:22:49.940 but look at,

00:22:50.460 and this is what I think,

00:22:51.440 I saw President Trump

00:22:52.380 re-energize today

00:22:53.540 because he got out

00:22:55.020 of the White House.

00:22:55.640 He got out of Washington, D.C.

00:22:56.800 He got away

00:22:57.500 from all the madness

00:22:58.440 of, you know,

00:22:59.600 let's go regime change

00:23:01.240 in the Middle East again.

00:23:02.240 He got down

00:23:03.020 to deportations.

00:23:04.940 And when President Trump

00:23:05.980 is sitting there

00:23:06.800 and he's saying,

00:23:08.000 hey,

00:23:08.440 I like the Florida gators

00:23:10.060 I see in the mode

00:23:11.160 around alligator Alcatraz,

00:23:14.600 but I'm thinking

00:23:16.180 and hearing

00:23:16.660 that maybe I'm going

00:23:17.440 to bring in

00:23:17.860 what's some African crocodiles

00:23:19.520 and put them

00:23:20.280 in the Rio Grande,

00:23:21.200 that's the guy

00:23:21.980 I voted for, right?

00:23:23.580 That's,

00:23:23.920 he's talking about

00:23:24.560 mass deportations.

00:23:25.760 He's on it.

00:23:26.440 He's energized.

00:23:28.000 And now we're going

00:23:28.580 to get into the House

00:23:29.300 and I'm sure there's

00:23:30.100 a spread between

00:23:31.260 the bid and the ask.

00:23:32.080 We'll play some

00:23:32.520 of those things

00:23:33.120 maybe in the next block.

00:23:34.680 But I want to get back

00:23:35.860 to Natalie

00:23:36.800 because this economic model

00:23:39.020 is based upon

00:23:40.060 the commercial relationships

00:23:41.460 with other countries,

00:23:42.460 trade, tariffs,

00:23:43.520 reshoring,

00:23:44.480 manufacturing

00:23:45.160 for high value

00:23:46.020 added jobs.

00:23:47.240 Talk to me,

00:23:47.840 one of the biggest things

00:23:48.820 between us

00:23:49.900 and the Chinese.

00:23:50.700 This is why

00:23:51.140 they've had meetings

00:23:51.800 in Geneva,

00:23:52.880 other meetings in London.

00:23:54.380 And Scott Besson

00:23:55.180 is in charge of this

00:23:56.260 because the president says,

00:23:57.240 hey, Besson's my safe

00:23:58.280 pair of hands

00:23:58.920 to actually deliver something.

00:24:00.460 Talk to me

00:24:01.020 about rare earths,

00:24:02.680 ma'am,

00:24:03.220 the centrality

00:24:04.140 of rare earths

00:24:04.880 in the economy

00:24:05.500 and what we're actually

00:24:06.640 the Trump administration

00:24:07.500 is actually doing

00:24:08.340 to make sure

00:24:08.960 that we can have

00:24:10.180 a manufacturing

00:24:11.440 kind of super boom.

00:24:12.860 Ma'am.

00:24:14.380 Sure.

00:24:14.920 Well, I think

00:24:15.300 another promise made

00:24:16.380 and promise kept

00:24:17.240 from President Trump.

00:24:18.480 He obviously issued

00:24:19.440 an EO

00:24:20.380 in the early days

00:24:21.140 of his presidency,

00:24:22.680 basically fast tracking,

00:24:24.240 trying to expand

00:24:25.120 American rare earths,

00:24:27.240 whether the actual

00:24:28.100 procuring of them

00:24:29.240 or the processing.

00:24:30.600 And today,

00:24:31.300 it was just announced

00:24:32.200 that in about a week,

00:24:33.140 you're going to have

00:24:33.640 the grand opening

00:24:34.480 of really the first

00:24:36.320 in 70 years

00:24:37.760 of a rare earth

00:24:38.660 mining facility

00:24:39.600 out in Wyoming

00:24:40.600 come to life,

00:24:42.780 which is something

00:24:43.500 that, like I said,

00:24:44.180 we haven't seen

00:24:44.760 for 70 years.

00:24:45.880 It's a copper mine.

00:24:46.920 It's the first,

00:24:47.700 I believe,

00:24:47.940 in 50 years,

00:24:48.680 particularly that rare earth.

00:24:50.300 Like I said,

00:24:50.720 in the state of Wyoming,

00:24:51.680 it'll be a big event

00:24:52.660 sort of following

00:24:54.280 the July 4th spirit.

00:24:55.900 But I think,

00:24:56.680 to your point,

00:24:57.360 so much of this

00:24:58.000 comes back

00:24:58.940 to the rare earths.

00:24:59.820 Why do I say that?

00:25:01.160 I think after

00:25:01.900 the first trade war,

00:25:03.380 right,

00:25:03.560 the PRC really understood

00:25:05.300 that they needed

00:25:06.060 to change

00:25:06.820 and shift their strategy

00:25:08.140 to sort of fix

00:25:09.540 for some of their

00:25:10.240 shortcomings,

00:25:10.960 of which they identified

00:25:11.920 rare earths,

00:25:12.760 the kind of vertical integration

00:25:13.920 from start to finish,

00:25:14.880 the whole process,

00:25:15.720 smelting or deep processing,

00:25:17.680 whatever.

00:25:18.280 And they did that,

00:25:19.240 right,

00:25:19.420 with Made in China 2025

00:25:20.740 really ratcheting up.

00:25:22.420 They sort of combined,

00:25:23.600 made these conglomerates,

00:25:24.660 a lot of their rare earth companies.

00:25:26.060 And I think this speaks

00:25:26.800 to President Trump's

00:25:27.720 sort of hemispheric

00:25:28.900 defense policy, right?

00:25:30.380 But you sort of put that

00:25:31.340 through the paradigm

00:25:32.080 of unrestricted warfare.

00:25:33.840 It's not just kinetic action.

00:25:36.040 It's really,

00:25:36.660 like we said,

00:25:37.260 these chips,

00:25:38.240 the semiconductors,

00:25:39.040 name your item,

00:25:40.480 that we see

00:25:41.180 not just in sort of

00:25:41.960 the confines

00:25:42.480 of military-civil fusion,

00:25:43.900 but being used

00:25:44.520 just for typical

00:25:45.220 everyday Western life.

00:25:47.280 And the PRC

00:25:48.120 certainly understands this.

00:25:49.760 If you want to toss

00:25:50.360 the article up on screen

00:25:51.160 from the Wall Street Journal

00:25:52.100 just a few days ago

00:25:53.100 showing that the PRC

00:25:54.580 is actually withholding

00:25:55.820 the passports

00:25:56.780 of Chinese sort of

00:25:59.820 engineers in this field

00:26:01.560 because they don't

00:26:02.200 want them to leave.

00:26:02.940 They don't want them

00:26:03.360 to share the technology

00:26:04.320 with the United States.

00:26:05.880 And I think this is

00:26:06.720 another called shot

00:26:07.540 for the war room.

00:26:08.480 Our intellectual betters

00:26:10.280 over at Foreign Policy

00:26:11.360 had a big piece up

00:26:12.520 just today

00:26:13.540 talking extensively

00:26:14.700 about how rare earths

00:26:15.860 have sort of been

00:26:16.440 China's cudgel

00:26:17.320 in this ongoing trade war.

00:26:19.560 So I think this is

00:26:20.160 a historic development.

00:26:21.340 Of course,

00:26:21.640 no real coverage

00:26:22.400 from the legacy media

00:26:23.600 on anything

00:26:24.060 that this administration

00:26:24.880 is doing

00:26:25.440 on the rare earth front.

00:26:27.120 But...

00:26:27.440 So, Natalie,

00:26:30.920 we've got about a minute

00:26:32.240 till we go to break.

00:26:32.960 I want you to hang around

00:26:33.620 for a few minutes.

00:26:36.320 President Trump

00:26:37.120 on the 2.8% growth

00:26:38.800 to really...

00:26:39.880 I think internally

00:26:40.840 they think

00:26:41.320 it would be higher

00:26:41.880 than 3.

00:26:42.860 This is a big part of it.

00:26:43.820 If you haven't seen

00:26:44.640 Peter Navarro a lot

00:26:45.720 on TV lately,

00:26:47.180 I think Peter Navarro

00:26:48.380 is burrowed down

00:26:49.660 into let's make

00:26:50.760 some of these

00:26:51.200 fundamental realignments

00:26:53.660 we have to make

00:26:54.400 so that CCP

00:26:55.300 doesn't have an advantage

00:26:56.680 on supply chains

00:26:59.340 and on rare earths.

00:27:00.680 And this thing,

00:27:01.400 I can't tell you

00:27:02.320 how huge it is.

00:27:03.180 Of course,

00:27:03.840 the mainstream media

00:27:04.520 is not going to cover it

00:27:05.440 because it's such a positive

00:27:06.480 thing for President Trump.

00:27:08.020 And this gives...

00:27:08.660 It has been a cudgel

00:27:09.680 because the magnets,

00:27:11.380 everything that's kind of

00:27:12.140 made in automotive

00:27:12.940 and this is where

00:27:14.080 people were saying,

00:27:14.820 hey, we're going to shut down...

00:27:15.800 We're going to have to

00:27:16.320 shut down factory lines.

00:27:18.080 This is a very important

00:27:19.400 part of it.

00:27:20.140 This is central.

00:27:20.860 And this also shows you

00:27:21.960 why this negotiation

00:27:23.040 with the CCP

00:27:24.060 has been so tough.

00:27:25.880 And it also shows you

00:27:27.240 why, you know,

00:27:29.220 Scott Besson

00:27:29.900 is doing that one.

00:27:31.540 I might also add

00:27:33.120 that Howard Lutnick

00:27:34.500 was unacceptable

00:27:36.720 as Commerce Secretary

00:27:37.800 yesterday

00:27:38.300 in his pitching

00:27:39.340 of the AI moratorium.

00:27:42.440 This is another guy

00:27:43.240 that does not get it.

00:27:44.340 He does not understand MAGA.

00:27:45.960 It's all kind of,

00:27:46.760 you know,

00:27:47.620 phony MAGA.

00:27:48.740 So you can sit there

00:27:49.380 and, oh, I'm MAGA.

00:27:50.120 No, dude,

00:27:50.960 you're far from it.

00:27:52.500 You're just too aligned

00:27:53.940 with the tech bros.

00:27:55.000 I understand you made

00:27:55.660 your money beforehand

00:27:56.340 with the tech bros,

00:27:57.120 but it's not acceptable.

00:27:58.340 This is why

00:27:59.320 President Trump's got

00:28:00.600 the Chinese Communist Party

00:28:01.820 negotiation

00:28:02.500 in Scott Besson's hands,

00:28:04.020 not the Secretary of Commerce.

00:28:06.920 I hate to break

00:28:07.400 some inside baseball.

00:28:08.520 This is reality

00:28:09.140 and why this rare earth

00:28:11.500 is so important

00:28:12.680 and vital

00:28:13.060 to that negotiation.

00:28:14.220 Short commercial break.

00:28:16.180 Back in the war room.

00:28:17.380 Just a moment.

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00:29:41.440 slash Bannon.

00:29:42.600 Do it today.

00:29:43.400 Do not let this thing

00:29:45.080 get ahead of you.

00:29:46.620 Do it today.

00:29:49.180 Here's your host,

00:29:50.460 Stephen K.

00:29:51.200 Mann.

00:29:56.340 Welcome back.

00:29:57.680 The team

00:29:58.540 is down,

00:29:59.440 is heading towards

00:30:00.380 Brazil.

00:30:01.860 We're going to try

00:30:02.320 to catch up with them.

00:30:03.860 I don't think we're going to do it tonight,

00:30:05.240 but tomorrow,

00:30:06.780 Philip Patrick and the team

00:30:07.700 are going to talk everything

00:30:08.540 about the BRICS.

00:30:09.520 And this is why,

00:30:11.020 and going back

00:30:11.700 and hitting reset

00:30:12.300 about the actual model.

00:30:15.720 And I think of

00:30:16.300 the Secretary of Treasury,

00:30:17.900 and I think we're trying

00:30:18.480 to get Scott on tomorrow.

00:30:20.860 Also, EJ and Tony

00:30:22.200 is going to join us.

00:30:23.740 We had Joe Lavagna today

00:30:25.120 who was spectacular.

00:30:26.580 We had Dr. Stephen,

00:30:28.800 was it,

00:30:30.080 Myron on yesterday

00:30:31.280 who's fantastic.

00:30:32.880 When you start talking

00:30:34.060 about the holistic

00:30:35.120 economic model,

00:30:36.580 and Natalie just told you

00:30:39.160 how, hey,

00:30:39.840 rare earths

00:30:40.460 is part of everything

00:30:41.640 that he's doing

00:30:42.220 in capital expenditure

00:30:43.180 and reshoring.

00:30:45.060 Then you can holistically

00:30:46.580 look at this

00:30:47.540 and understand

00:30:48.740 the premise

00:30:50.060 of their bet

00:30:51.040 is that we can

00:30:52.600 grow the economy

00:30:53.680 at a faster rate

00:30:55.460 than the debt's growing.

00:30:56.920 And therefore,

00:30:57.640 in that regard,

00:30:58.600 bring down the,

00:31:00.300 which is the key part

00:31:01.120 right now,

00:31:02.260 deficits

00:31:02.780 as percentage

00:31:03.840 of GDP

00:31:04.520 from 6.5%,

00:31:06.600 maybe even 7%,

00:31:07.540 down to 3%.

00:31:08.480 It is not sustainable

00:31:10.100 at 6.5%.

00:31:11.520 Scott Besson

00:31:12.840 would tell you that.

00:31:13.580 Why is that?

00:31:14.180 Because it means

00:31:14.600 you have to sell

00:31:15.180 too many bonds.

00:31:16.180 And there's already

00:31:16.680 this controversy

00:31:17.400 in the financial times

00:31:18.280 they pointed out.

00:31:19.220 I think the Secretary of Treasurer

00:31:20.380 has done a good job

00:31:21.200 of refuting it,

00:31:22.360 which they said

00:31:22.960 the other day

00:31:23.380 they're having

00:31:23.680 a difficult time

00:31:24.700 selling 20 years

00:31:26.840 in 30 years,

00:31:27.600 just like the Japanese

00:31:28.480 are having.

00:31:30.040 One of the reasons

00:31:30.920 that people

00:31:31.660 are questioning

00:31:32.380 all of the

00:31:33.960 industrial democracies

00:31:35.260 in the West,

00:31:36.480 including Japan,

00:31:37.820 of these business,

00:31:39.440 the sustainability

00:31:40.140 of these business models

00:31:41.340 given deficits

00:31:42.740 and given debt

00:31:43.760 and given also demographics.

00:31:45.620 This is one of the reasons

00:31:46.420 Japan's getting hammered

00:31:47.560 right now.

00:31:47.960 I think the Treasurer

00:31:49.640 has refuted that.

00:31:50.760 They're not a problem.

00:31:51.340 And one of the biggest

00:31:52.080 tells we have

00:31:52.760 on the big,

00:31:53.200 beautiful bill,

00:31:54.360 one of the biggest

00:31:54.940 tells that we have

00:31:55.920 is the fact that

00:31:57.340 the equity markets

00:31:58.680 are at an all-time high,

00:32:00.420 particularly the S&P 500,

00:32:01.880 which is the best,

00:32:02.840 the 400 and the 500

00:32:04.000 are the best indicators,

00:32:05.840 much more than the Dow,

00:32:06.920 of the overall health

00:32:07.780 of the equity markets

00:32:08.740 of our economy.

00:32:10.800 Number two,

00:32:11.340 the bond markets

00:32:12.080 are not throwing up

00:32:13.600 on this deal.

00:32:15.220 They're just not.

00:32:15.880 There's relative common,

00:32:17.440 the bond markets,

00:32:18.380 credits,

00:32:19.020 you know,

00:32:19.240 it's tight,

00:32:19.840 tight spreads.

00:32:21.000 And I think

00:32:21.780 the 10-year Treasury,

00:32:23.020 which we've taught you

00:32:24.280 kind of your whole

00:32:25.020 economic life

00:32:25.940 goes off that,

00:32:27.100 your credit card,

00:32:27.880 your home loan,

00:32:28.580 your student loan,

00:32:29.360 your car loan,

00:32:30.160 everything is predicated

00:32:31.280 on that 10-year Treasury.

00:32:33.140 I think it's at 4.25%,

00:32:35.140 but it's been down.

00:32:37.360 Inflation's down.

00:32:38.440 The wages,

00:32:39.060 particularly blue-collar wages,

00:32:40.280 are rising.

00:32:41.480 The pieces of it

00:32:42.780 are coming together.

00:32:44.320 And I realize

00:32:44.880 there's a lot,

00:32:46.220 particularly if you

00:32:46.840 break it apart,

00:32:47.460 people don't like about it,

00:32:48.480 but this was one-time shot

00:32:50.480 to get it all done

00:32:52.140 to put it in the back of us.

00:32:54.440 And like I said,

00:32:55.180 it's quite complex.

00:32:56.060 We're going to play some

00:32:56.800 in a moment.

00:32:57.800 Some of the guys

00:32:58.620 in the house

00:32:59.120 who you're very familiar

00:33:00.020 with,

00:33:00.240 some of the hawks,

00:33:01.040 the deficit hawks,

00:33:02.020 that are not happy

00:33:03.460 with where we're standing,

00:33:04.300 and that's going to have

00:33:04.900 to be worked at

00:33:05.520 9 o'clock tomorrow morning.

00:33:06.800 They're all called back tonight.

00:33:08.360 9 o'clock tomorrow morning,

00:33:09.420 they're going to vote.

00:33:09.980 They're going to meet.

00:33:10.880 They're going to,

00:33:11.220 I think,

00:33:11.560 have a conference.

00:33:12.300 Then they're going to talk

00:33:12.840 about a rule,

00:33:13.900 that they're going to have

00:33:14.580 a rule vote,

00:33:15.320 so strap in

00:33:16.460 for the next couple of days.

00:33:18.400 Natalie Winters,

00:33:19.300 just the spirit.

00:33:20.180 I thought it was great

00:33:20.800 President Trump

00:33:21.300 getting out today,

00:33:22.160 getting down to Florida.

00:33:23.420 It was,

00:33:23.720 you know,

00:33:23.820 he's taking a tour.

00:33:24.680 He's a builder.

00:33:25.440 He's seeing something

00:33:26.000 that's been put together

00:33:26.700 in eight days.

00:33:27.860 It's actually,

00:33:28.780 talks about the action

00:33:29.940 that he's doing

00:33:30.640 on the mass deportations,

00:33:32.040 gets him back

00:33:32.640 into the sweet spot

00:33:33.620 of something

00:33:34.440 he's very focused on.

00:33:36.060 The big,

00:33:36.680 beautiful bill got done.

00:33:38.180 The Senate part

00:33:39.120 was approved

00:33:40.360 exactly in the middle

00:33:42.240 of his talk.

00:33:43.080 I thought it was fantastic.

00:33:45.220 What's the energy

00:33:47.240 or the fighting spirit

00:33:48.820 around the White House

00:33:49.600 today as you,

00:33:50.580 over the last couple of days

00:33:51.500 as you,

00:33:52.060 because I understand

00:33:52.700 everybody's been

00:33:53.400 at kind of general quarters

00:33:54.540 because of avoiding

00:33:56.400 and not getting sucked into

00:33:58.500 by our ally

00:34:00.720 a major,

00:34:02.480 you know,

00:34:03.300 regime change war

00:34:04.380 in Persia,

00:34:05.900 ma'am?

00:34:06.200 Well,

00:34:08.040 I think there's

00:34:08.700 sort of an inverse

00:34:09.420 relationship,

00:34:10.360 right,

00:34:10.580 when we're covering

00:34:11.540 deportations,

00:34:12.580 obviously the new media

00:34:13.660 loves it,

00:34:14.160 the legacy,

00:34:15.120 my legacy betters.

00:34:16.540 Don't particularly like it,

00:34:18.020 though.

00:34:18.160 I did love your coverage

00:34:19.080 this morning,

00:34:19.920 but I think there,

00:34:20.940 I have to say,

00:34:21.620 was sort of an unsur,

00:34:23.180 I guess rather surprising,

00:34:24.760 I think,

00:34:25.140 coalescence

00:34:25.840 and really convergence

00:34:26.920 between a lot of

00:34:27.720 the new media outlets

00:34:28.720 and the legacy media outlets

00:34:30.640 when it came to

00:34:31.640 everything that was

00:34:32.320 going down in Iran.

00:34:33.480 I think for all of the,

00:34:35.200 frankly,

00:34:35.400 hype or meltdown

00:34:36.580 that we heard about

00:34:37.280 how new media

00:34:37.980 was going to bring,

00:34:38.880 you know,

00:34:39.060 some new viewpoints

00:34:40.180 into the briefing room

00:34:41.440 and really shift the coverage,

00:34:43.200 I really think we saw

00:34:44.380 sort of a,

00:34:44.920 you know,

00:34:45.120 similar WMD style

00:34:46.980 kind of propaganda

00:34:47.640 narrative take over

00:34:48.640 and I wish that a lot

00:34:49.480 of these new media outlets

00:34:50.480 would have,

00:34:51.300 I think,

00:34:51.520 followed in war rooms

00:34:52.440 footsteps

00:34:52.840 and held a stronger line

00:34:54.800 on calling for

00:34:55.640 the actual evidence,

00:34:56.640 not just taking

00:34:57.260 foreign countries'

00:34:58.560 alleged intel reports

00:34:59.580 as gospel.

00:35:01.000 But I think,

00:35:02.240 like,

00:35:02.600 I'm sure the American electorate,

00:35:03.920 the people who elected

00:35:04.620 President Trump agrees

00:35:05.440 we should be focusing

00:35:06.180 on mass deportations

00:35:08.200 and not getting entangled

00:35:09.840 in additional foreign conflicts.

00:35:11.400 So I think for that reason,

00:35:12.580 a much better day,

00:35:13.800 not just in the press court,

00:35:15.140 but probably the administration

00:35:16.400 more broadly.

00:35:17.040 Where do people go

00:35:22.660 for your social media?

00:35:23.660 Where do they go

00:35:24.060 for all of it, Natalie?

00:35:24.860 Because we've got so much work

00:35:25.800 to do here on internal

00:35:27.280 and just announced

00:35:29.300 President Trump

00:35:29.980 has signed

00:35:30.440 that he's holding back

00:35:31.740 arms shipments

00:35:33.140 to Ukraine.

00:35:34.340 We're going to try

00:35:34.700 to get into that,

00:35:35.340 maybe get some understanding

00:35:36.520 of that in the second hour.

00:35:37.740 Last time I remember

00:35:38.700 President Trump did that,

00:35:39.760 they impeached him.

00:35:40.680 So hopefully,

00:35:41.720 hopefully this was not done

00:35:43.420 with a phone call

00:35:45.520 with Zelensky,

00:35:46.260 but we'll find out

00:35:46.900 about all of this.

00:35:48.520 There's all kind of bombs

00:35:49.360 dropping today

00:35:50.120 that if we don't get to tonight,

00:35:52.700 we're going to get to

00:35:53.220 in the morning.

00:35:54.280 Where do people go

00:35:56.240 for your social media, ma'am?

00:35:59.080 Well, Natalie G. Winters,

00:36:00.440 but more importantly,

00:36:01.480 happy one year.

00:36:02.840 We missed you.

00:36:03.700 We're very glad you're back

00:36:04.760 and please don't go back

00:36:05.660 to prison.

00:36:06.300 Thank you.

00:36:08.140 Thank you, sir.

00:36:09.760 Next man up.

00:36:11.320 Next man up.

00:36:12.500 Next woman up.

00:36:13.660 Besides the fact

00:36:14.300 I had to do all the...

00:36:15.380 Next woman up.

00:36:16.320 I say that

00:36:17.420 in the most generic way

00:36:18.600 of all.

00:36:19.980 It was actually

00:36:20.440 an amazing experience.

00:36:21.560 No biological...

00:36:21.940 Maybe talk about that later.

00:36:22.780 There are only

00:36:23.180 biological women.

00:36:24.220 Yes.

00:36:24.540 Thank you, Steve.

00:36:25.740 Well, they did this.

00:36:27.380 University of Pennsylvania Day,

00:36:28.700 I think,

00:36:29.020 has taken all the trophies

00:36:31.080 and medals away from that.

00:36:32.400 I think we've got some clips.

00:36:33.660 Let's go ahead

00:36:34.180 and play what we've got.

00:36:35.260 I may jump in here

00:36:36.100 because it may run

00:36:36.700 a little long.

00:36:37.300 I've got Batya Unger-Sargon

00:36:39.240 who's going to join us.

00:36:40.240 She's done a great job

00:36:41.160 and quite frankly,

00:36:41.960 her alerting people

00:36:42.880 to part of this Medicaid issue.

00:36:44.700 I think Senator Schmidt

00:36:46.080 and others took care of it.

00:36:47.080 Let's go ahead

00:36:47.400 and let some of the responses play.

00:36:50.380 It comes to things

00:36:51.220 we disagree with

00:36:52.220 when you just assume

00:36:54.300 what is current policy

00:36:56.380 rather than having us

00:36:57.960 vote on said policy.

00:37:01.700 I've seen a lot of messaging

00:37:03.280 and rhetoric

00:37:03.680 coming from very good

00:37:04.880 friends of mine

00:37:05.580 talking about how it's

00:37:08.360 somehow anathema

00:37:10.480 or accepting leftist dogma

00:37:12.460 to say and to ask the question

00:37:15.420 about a policy baseline

00:37:17.560 about whether or not

00:37:19.200 that is foregoing

00:37:20.760 our responsibility

00:37:21.640 to do the math.

00:37:24.060 You can believe

00:37:25.380 that the current tax rates

00:37:27.080 that are X,

00:37:28.540 whether it's for the lowest bracket

00:37:30.240 or the highest

00:37:31.060 should stay the same

00:37:32.280 and I take on face value

00:37:33.460 that many of my colleagues,

00:37:34.500 the administration

00:37:35.080 and myself included,

00:37:37.440 would like them to stay

00:37:38.380 at that level

00:37:38.940 or even lower.

00:37:40.200 That's my preference.

00:37:42.380 But if you do that,

00:37:43.960 you have to do math.

00:37:45.440 What will be the impact

00:37:46.580 then on revenue?

00:37:48.320 And my colleagues,

00:37:49.360 I think,

00:37:49.740 in the Senate

00:37:50.200 in particular,

00:37:51.480 because God bless the House,

00:37:52.760 at least we've created

00:37:53.640 a framework by which

00:37:54.580 we were trying to do

00:37:55.460 dollar for dollar.

00:37:56.140 I realize my colleagues

00:37:56.720 on the other side of the aisle

00:37:57.300 disagreed with that.

00:37:58.840 But I want to give credit

00:37:59.780 to the Budget Committee Chairman

00:38:01.180 for trying to hold a line

00:38:02.780 of saying that there ought

00:38:03.560 to at least be a connection.

00:38:05.360 That we ought to at least say

00:38:06.600 if we're going to do

00:38:07.480 the tax policy,

00:38:08.600 at least do the spending policy.

00:38:10.740 Have the courage

00:38:11.620 and the fortitude

00:38:12.240 to do what you campaign on

00:38:13.520 when you're talking about

00:38:14.360 balancing the dang budget.

00:38:16.180 Don't just talk about it.

00:38:17.500 Don't talk about

00:38:18.140 balanced budget amendments

00:38:19.140 and then go home

00:38:19.860 and say,

00:38:20.160 look at me.

00:38:20.520 I got a balanced budget

00:38:22.260 amendment vote.

00:38:23.000 Did it fail?

00:38:23.660 No, it failed.

00:38:24.600 Is it law?

00:38:25.720 No.

00:38:26.780 Right?

00:38:27.420 I mean,

00:38:28.020 I got you your tax cuts.

00:38:29.660 But ignore,

00:38:30.640 ignore that inflation

00:38:32.420 that is a result

00:38:33.680 of $37 trillion of debt.

00:38:37.520 My colleagues

00:38:38.360 in the Senate

00:38:38.920 failed us.

00:38:41.060 My colleagues

00:38:41.900 in the Senate

00:38:42.400 failed us.

00:38:43.900 They sent us a bill

00:38:44.960 knowingly

00:38:46.040 using a policy baseline

00:38:48.260 gimmick.

00:38:49.180 They sent it

00:38:50.200 knowingly

00:38:51.100 and they sent it

00:38:53.260 knowing that it was

00:38:53.960 going to have

00:38:54.500 increased deficits.

00:38:56.840 Last question,

00:38:57.640 I'm sorry,

00:38:58.040 it's for my good friend

00:38:58.820 from Texas

00:38:59.460 who I don't really

00:39:00.660 want to put on the spot

00:39:01.480 here in a way

00:39:01.940 that's beyond,

00:39:02.680 I think,

00:39:03.180 the core question,

00:39:04.340 but this matters.

00:39:07.880 Regardless of what

00:39:08.700 one thinks about

00:39:09.440 these policies

00:39:10.120 and wanting to be able

00:39:11.720 to have the economic growth,

00:39:12.820 I want the tax cuts

00:39:13.580 to be permanent.

00:39:14.040 I want all this stuff.

00:39:14.800 but is it fair

00:39:16.780 to say

00:39:17.360 that the lion's share

00:39:19.800 of the deficits

00:39:21.260 will be in the first

00:39:23.000 five years

00:39:23.600 of the 10-year budget window?

00:39:25.280 Is that fair to say?

00:39:26.740 Yes,

00:39:27.120 that's fair.

00:39:28.000 Is that relatively

00:39:29.360 irrefutably fair to say?

00:39:32.580 It's irrefutable

00:39:33.740 to my knowledge.

00:39:35.120 The only way

00:39:37.140 to refute

00:39:37.940 the idea

00:39:38.580 that in the first

00:39:39.480 four to five years

00:39:40.540 of the budget window

00:39:41.360 that we will have

00:39:42.260 significant deficits

00:39:43.520 to the tune

00:39:44.660 of probably

00:39:45.340 close to $2 trillion,

00:39:46.800 $1.8 trillion,

00:39:47.760 even on a dynamic basis

00:39:49.000 assuming the budget

00:39:49.740 committee's number,

00:39:51.140 that you have to make up

00:39:52.140 for it in the tail

00:39:53.100 in the last five years

00:39:54.200 of the budget window.

00:39:55.440 The only way

00:39:56.320 to do that,

00:39:56.880 to the best of my knowledge,

00:39:58.540 is to assume

00:40:00.200 more revenue

00:40:00.880 for tariffs

00:40:01.500 and assume

00:40:02.760 higher growth rates.

00:40:03.860 So I think

00:40:05.540 you have to assume,

00:40:07.260 I haven't done

00:40:07.800 the exact math,

00:40:08.740 three to three and a half

00:40:09.840 percent growth

00:40:10.620 over 10 years,

00:40:11.420 which I hope we have

00:40:12.380 and we should aspire

00:40:13.460 to get,

00:40:14.720 and tariff revenue

00:40:16.720 at the rate

00:40:17.680 that we currently

00:40:18.440 are bringing it in

00:40:19.200 or more,

00:40:19.580 which CBO has scored

00:40:20.660 to CBO's math,

00:40:22.560 2.8 trillion,

00:40:23.960 I just did that

00:40:24.300 from memory,

00:40:25.000 something like that.

00:40:26.140 It's going to be

00:40:26.380 about $280 billion a year.

00:40:27.940 So you have to assume

00:40:28.920 that tariff revenue

00:40:29.660 and assume,

00:40:30.840 call it three and a half

00:40:31.680 percent roughly growth.

00:40:32.740 Then you start

00:40:34.500 to kind of wash out

00:40:35.780 what we're doing

00:40:37.240 in Congress

00:40:38.040 by our choice.

00:40:40.060 Everything we just said,

00:40:41.520 we're leaving essentially

00:40:42.240 the administration

00:40:42.740 to go carry out.

00:40:44.840 If I'm characterized

00:40:45.840 anything incorrectly,

00:40:47.540 does anybody

00:40:48.140 want to challenge

00:40:50.380 what I just said

00:40:51.240 mathematically?

00:40:55.940 With that,

00:40:56.700 I will yield back.

00:40:57.180 Thank you,

00:41:00.120 Mr. Roy.

00:41:02.260 And all I would say

00:41:03.320 is that...

00:41:04.200 Okay, hang on.

00:41:05.220 Hang on a second.

00:41:06.180 Hang on.

00:41:06.420 I want to get to Norman

00:41:08.660 in a moment.

00:41:09.860 This gets back

00:41:10.680 to what I said,

00:41:12.060 the reason we had

00:41:13.320 Joe on here.

00:41:14.240 And look,

00:41:15.700 the administration

00:41:19.100 has to do

00:41:19.920 a better job of this.

00:41:21.900 It's your program.

00:41:22.900 It's got to be sold.

00:41:24.300 And I think

00:41:24.980 it's a disservice

00:41:25.620 to the president.

00:41:26.460 I think Treasury,

00:41:27.520 I think NEC,

00:41:29.240 I think Miran,

00:41:30.480 we had him on yesterday.

00:41:31.600 It's a very compelling case.

00:41:33.120 You see right there,

00:41:35.220 Chip's looking

00:41:35.940 for the answer

00:41:36.740 and they're not

00:41:37.360 stepping up the answer.

00:41:38.380 If you add

00:41:39.100 all of this,

00:41:40.660 and I think

00:41:41.220 the math is,

00:41:42.020 particularly with

00:41:42.540 some of these cuts,

00:41:44.380 and additional things

00:41:45.220 to be done,

00:41:46.940 and the tariffs

00:41:47.740 at $300 billion

00:41:50.380 a year or higher,

00:41:52.340 which right now

00:41:52.900 I think is on track

00:41:53.480 for $400 billion,

00:41:54.920 the reshoring,

00:41:56.680 right,

00:41:57.220 occurring at the,

00:41:58.160 and we just had Natalie

00:41:59.060 on here talking about

00:41:59.880 one of the underpinnings

00:42:00.920 of reshoring

00:42:01.600 is the,

00:42:02.180 is eventually

00:42:04.780 the availability

00:42:05.500 of processed rare earths.

00:42:08.460 You've got

00:42:09.040 the deregulation.

00:42:11.440 You have

00:42:12.320 the deportations

00:42:13.780 and the restrictions

00:42:15.000 are coming across

00:42:15.820 to compete,

00:42:16.380 so you've got

00:42:16.820 increasing wages.

00:42:18.360 You've got all this

00:42:19.520 that even

00:42:21.060 in the first five years,

00:42:22.660 the Secretary of Treasury

00:42:23.720 said it.

00:42:24.420 I want to,

00:42:25.140 if my team

00:42:25.780 can pull the clip

00:42:26.620 on Kill Me

00:42:28.000 this morning,

00:42:28.780 I think we might have

00:42:29.580 played it,

00:42:30.740 that at the $5 trillion

00:42:32.480 you're not going to hit,

00:42:33.980 it's a $5 trillion

00:42:35.140 debt ceiling increase.

00:42:37.240 We're not going

00:42:37.860 to hit that.

00:42:38.500 We're not going

00:42:39.060 to hit that

00:42:39.420 because in the down years

00:42:40.480 you're not going

00:42:40.960 to hit the two

00:42:42.520 or over $2 trillion

00:42:43.680 deficits.

00:42:45.040 The structural cuts

00:42:47.280 and this is why

00:42:48.340 what the Senate

00:42:49.240 and people

00:42:49.600 are talking about

00:42:50.560 are in the out years.

00:42:53.140 Chip Roy

00:42:53.640 just absolutely nailed it.

00:42:56.140 The thing

00:42:56.700 we should focus on

00:42:57.740 is the near term years.

00:43:00.360 Period,

00:43:01.220 zero now

00:43:02.360 to the fifth year.

00:43:04.400 And maybe even,

00:43:05.100 I'm a big believer

00:43:05.760 in just this year,

00:43:06.540 next year,

00:43:06.920 where do we stand?

00:43:08.200 This is how you do

00:43:08.960 turnarounds

00:43:09.500 and this is a turnaround

00:43:10.340 or recapitalization.

00:43:12.560 Whatever you're going

00:43:13.020 to call it,

00:43:13.380 this is a turnaround.

00:43:14.100 You've got to look

00:43:14.720 at this year

00:43:15.200 and next year.

00:43:15.720 After that,

00:43:17.420 we'll figure it out.

00:43:18.620 But if you don't

00:43:19.020 make this year

00:43:19.560 and next year work,

00:43:20.300 then you don't

00:43:20.580 have to worry.

00:43:21.960 So I think Chip Roy

00:43:22.940 is asking good questions.

00:43:25.360 We have to provide

00:43:26.520 and you have to be

00:43:27.300 aggressive

00:43:27.860 in providing the answers.

00:43:29.500 There you got guys,

00:43:30.280 I don't know,

00:43:31.460 shrugging their shoulders.

00:43:32.180 That's not how you're

00:43:33.140 going to sell this thing.

00:43:35.160 People have to understand it.

00:43:36.820 It's a little complicated,

00:43:38.000 but it's clearly understandable.

00:43:40.560 Short commercial break.

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00:44:40.020 Here's your host,

00:44:41.480 Stephen K.

00:44:42.180 Bannon.

00:44:42.540 Birchgold.com

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00:44:49.420 Make sure you go

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00:44:50.640 The end of the dollar empire.

00:44:51.800 Get fully up to speed

00:44:52.860 on this.

00:44:54.460 The noise

00:44:55.460 that they're making

00:44:56.360 of coming up

00:44:56.920 with an alternative currency.

00:44:58.100 Hopefully,

00:44:59.260 we're being able

00:44:59.920 to thwart that

00:45:00.660 with the structural changes

00:45:02.900 that we're making.

00:45:03.740 Hopefully.

00:45:04.340 I'd say

00:45:04.960 if you'd raise taxes

00:45:05.940 on the wealthy,

00:45:06.540 I think we would have

00:45:07.040 gotten there.

00:45:08.040 But make sure you understand

00:45:09.040 it.

00:45:09.200 It's much more than that.

00:45:09.920 We talk about deficits.

00:45:10.820 We talk about debts.

00:45:11.420 All the nomenclature

00:45:12.520 that you need

00:45:13.700 to really understand

00:45:14.660 when Chip Roy talks,

00:45:17.040 you can at least

00:45:17.600 kind of follow along.

00:45:18.940 And this is very important

00:45:19.900 because we're going to be

00:45:20.720 fighting about money

00:45:21.500 for a long time.

00:45:23.060 This debt and deficits

00:45:23.860 are a central issue.

00:45:26.880 Birchgold.com

00:45:27.840 into the dollar empire

00:45:28.940 or just take out

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00:45:32.260 They've got a free guide

00:45:33.220 which I love.

00:45:33.980 Just take out your phone

00:45:34.680 Bannon

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00:45:42.320 and all the methodologies

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00:45:44.620 in the age of Trump.

00:45:46.020 It's not an era anymore.

00:45:47.220 It's an age.

00:45:47.900 An age of Trump.

00:45:48.660 And Harry Anna at the top

00:45:49.660 talking about

00:45:50.180 President Trump's

00:45:50.880 amazing polling

00:45:52.660 with the base

00:45:53.820 is incredible.

00:45:55.140 So Baccia,

00:45:55.840 and Baccia,

00:45:56.340 I'd like to keep you

00:45:56.940 into the 6 o'clock hour

00:45:58.060 because we didn't get you

00:45:58.840 on as early.

00:45:59.800 I've been

00:46:00.240 pontificating

00:46:02.040 about economic models

00:46:03.620 that I think

00:46:04.120 need to be

00:46:04.740 presented to the

00:46:05.700 American people.

00:46:06.960 You brought up

00:46:07.620 something the other day

00:46:08.400 that was very important.

00:46:09.260 I think you went

00:46:09.800 on a couple of shows

00:46:10.440 you were very upset

00:46:11.200 about one particular item

00:46:12.300 and I think your voice

00:46:13.220 was heard.

00:46:14.060 It was amplified

00:46:14.720 by other people.

00:46:15.720 I know the war room

00:46:16.380 and other people

00:46:16.900 were saying,

00:46:17.280 hang on for a second.

00:46:18.500 The parliamentarians

00:46:19.540 like saying,

00:46:20.800 you can't cut out

00:46:22.740 illegal immigrants

00:46:23.980 from Medicaid,

00:46:24.820 but we're going

00:46:25.640 to make that up

00:46:26.200 by taking it

00:46:26.660 from American working people.

00:46:28.040 Senator Schmidt,

00:46:29.580 the great Senator Schmidt

00:46:30.400 of Missouri

00:46:31.020 came out today

00:46:31.740 and said,

00:46:32.020 hey, look,

00:46:32.360 he wants to put

00:46:32.840 everybody's thing to bed.

00:46:34.020 I think 1.4 million

00:46:36.320 illegal aliens

00:46:37.560 who were on Medicaid

00:46:38.160 are now fully off,

00:46:39.360 not just partially off.

00:46:41.020 What was it about

00:46:41.980 that upset you

00:46:43.540 so much,

00:46:44.760 Baccia,

00:46:45.120 that you would go

00:46:46.040 around and really

00:46:46.940 start to say,

00:46:47.660 hey,

00:46:47.820 if this thing passes,

00:46:49.140 it's going to be

00:46:49.640 a travesty?

00:46:51.420 So first of all,

00:46:52.660 happy anniversary,

00:46:54.220 Steve.

00:46:55.200 I hope it's okay

00:46:56.120 if I tell

00:46:56.760 the war room posse

00:46:58.100 where I was

00:46:59.180 when I found out

00:47:00.060 that you were

00:47:00.500 actually going

00:47:01.140 to prison

00:47:01.680 as a patriot

00:47:03.580 and I was on a plane

00:47:05.740 and I was

00:47:06.740 on the verge of tears

00:47:07.720 and I texted you

00:47:08.620 and I said,

00:47:09.240 what can I do?

00:47:10.020 And you said to me,

00:47:11.340 next man up

00:47:12.180 as you do

00:47:12.980 and it was an honor

00:47:13.900 to hear those words

00:47:15.020 from you.

00:47:15.560 So thank you again

00:47:16.320 for your service

00:47:17.080 and God bless

00:47:18.400 and just what a relief

00:47:19.700 that you're here with us

00:47:20.800 and what a service

00:47:22.260 you did to your country.

00:47:24.220 Yeah.

00:47:24.620 So the reason

00:47:25.640 I got so upset

00:47:26.680 about that was

00:47:27.560 it seemed to me

00:47:28.420 in that moment

00:47:29.080 that what we effectively

00:47:30.180 had was two parties.

00:47:32.860 One party

00:47:33.400 that wanted

00:47:34.120 millions and millions

00:47:35.540 of illegal immigrants

00:47:36.680 to be on the Medicaid rolls

00:47:39.100 and one party

00:47:40.180 that was going

00:47:40.660 to be kicking off

00:47:41.700 millions and millions

00:47:42.740 of American citizens

00:47:44.040 and neither party

00:47:45.540 doing what the vast majority

00:47:46.980 of working class Americans want

00:47:49.120 which is greatly reducing

00:47:51.400 the number of immigrants

00:47:52.400 coming into this country

00:47:53.720 and greatly expanding access

00:47:55.560 to affordable,

00:47:56.900 high quality health care.

00:47:58.460 I think there's this view

00:47:59.880 in the sort of

00:48:00.800 rhino version

00:48:02.340 of the Republican Party

00:48:03.600 from pre-Trump era

00:48:05.300 that sees health care

00:48:07.480 as like a luxury

00:48:09.120 or like spinning rims

00:48:11.160 or something,

00:48:11.760 you know,

00:48:12.000 something people are like

00:48:12.880 scamming the system

00:48:14.300 in order to get.

00:48:16.140 We should all want

00:48:17.260 more people

00:48:17.880 to have better health care

00:48:20.120 because healthy Americans

00:48:21.720 work and work hard

00:48:23.700 and unfortunately

00:48:24.760 a lot of hardworking Americans

00:48:26.220 don't have access

00:48:27.260 to high quality health care

00:48:29.420 and the thing, Steve,

00:48:30.940 that I don't understand

00:48:31.820 is why do Republicans

00:48:34.060 not get that

00:48:35.240 most of the rich people

00:48:36.960 in this country

00:48:37.760 that they are now helping

00:48:39.260 with tax cuts

00:48:40.800 for the rich

00:48:41.520 are Democrats

00:48:42.880 whereas most of the people

00:48:45.320 who are working class,

00:48:46.600 that is their base.

00:48:48.540 There's like this real

00:48:49.720 fundamental inability

00:48:51.000 of them to understand

00:48:52.800 the political reality

00:48:54.820 right now

00:48:55.200 that of course

00:48:55.720 you understand

00:48:56.480 because you've helped

00:48:57.240 create it here

00:48:58.280 which is that

00:48:59.280 working class people

00:49:00.440 deserve to have

00:49:01.720 a party

00:49:02.320 that sees them

00:49:03.780 as human

00:49:04.740 and is invested

00:49:05.820 in their flourishing.

00:49:07.740 So I feel really

00:49:08.860 strongly about this.

00:49:09.920 You know,

00:49:10.200 the raising taxes

00:49:11.160 on the rich

00:49:11.800 is such an obvious

00:49:13.280 winning agenda item.

00:49:15.980 It is supported

00:49:16.680 by 80% of Americans.

00:49:19.340 So I'm so confused

00:49:21.260 about why this went down

00:49:22.740 the way that it did

00:49:23.680 and just so totally

00:49:25.440 grateful

00:49:26.060 for this platform

00:49:27.440 that you have

00:49:28.480 where you are

00:49:29.060 instructing politicians

00:49:31.580 to understand

00:49:32.820 how to relate

00:49:33.920 to their actual

00:49:35.820 voter base.

00:49:40.060 Baccia,

00:49:40.620 can you hang on?

00:49:41.740 I'm holding you

00:49:42.240 at 6 o'clock hour.

00:49:43.000 I just tracked down

00:49:43.680 Dave Brett.

00:49:44.340 I want to get you

00:49:44.960 into this entire discussion

00:49:46.660 because it was a seismic

00:49:48.360 to have 18 Republicans

00:49:50.040 even think of raising taxes

00:49:51.540 on the wealthy.

00:49:52.780 I know God,

00:49:53.240 Grove and Norcross

00:49:53.880 and the people

00:49:54.500 that for years

00:49:55.040 are saying it's

00:49:55.440 absolutely foreboding.

00:49:56.560 I think we're seeing

00:49:57.280 a sea change on that.

00:49:58.480 I think if we did

00:49:59.360 the snapback

00:50:00.160 for the wealthy,

00:50:01.860 for the top bracket,

00:50:03.080 right?

00:50:03.460 Well, the top bracket

00:50:04.000 is not wealthy,

00:50:04.600 but for the top bracket

00:50:05.500 from 37.5% to 39.5%,

00:50:08.040 we would solve

00:50:09.060 some of these problems.

00:50:09.940 But I think

00:50:10.340 if we set up

00:50:10.820 a new bracket

00:50:11.500 at 40% for millionaires

00:50:12.820 and above,

00:50:13.780 I think that we could

00:50:14.540 ultimately,

00:50:15.220 you know,

00:50:16.100 it's not perfect.

00:50:17.580 It's not going to generate

00:50:18.540 all the revenue

00:50:19.360 we need,

00:50:20.160 but it's directionally

00:50:21.200 in the way we have to go.

00:50:22.300 So just hang on.

00:50:22.980 Dave Bratt

00:50:23.440 and Dave Walsh

00:50:24.160 is going to talk to us

00:50:24.780 about energy

00:50:25.340 because energy

00:50:26.020 is so central

00:50:26.860 to the Trump

00:50:27.940 economic revolution.

00:50:29.680 Mike Lindell,

00:50:30.780 tomorrow I can announce

00:50:31.920 this is,

00:50:32.680 you're at the factory today,

00:50:34.340 but tomorrow

00:50:34.760 you will be

00:50:35.600 in Washington, D.C.

00:50:37.540 We'll pick you up

00:50:38.180 live from Washington.

00:50:39.840 In the interim, sir,

00:50:41.280 you're going to sell me,

00:50:42.160 I want a special deal

00:50:43.300 for the warring posse.

00:50:44.420 What do you got for us?

00:50:46.100 Here's what we got.

00:50:47.240 In light of the,

00:50:48.000 going to be selling

00:50:48.740 product right from

00:50:49.820 the White House

00:50:50.380 tomorrow, everybody.

00:50:51.800 We're going to announce

00:50:52.840 that we waited all year

00:50:53.780 for this sale,

00:50:54.540 but we're going to do it

00:50:55.160 a day early

00:50:55.820 for the warring posse.

00:50:57.680 And it's the 50%

00:50:59.080 off or more sale

00:51:00.480 for the July 4th.

00:51:01.580 We're going to start it

00:51:02.340 right now.

00:51:03.480 And this is a warring

00:51:04.600 exclusive too.

00:51:05.860 So we're going to

00:51:06.440 start it early,

00:51:07.600 celebrate, you guys.

00:51:09.580 If you go to the website,

00:51:11.080 use that promo code warroom

00:51:12.760 and you see every,

00:51:14.220 all these products,

00:51:15.240 50% or more off.

00:51:17.440 You guys,

00:51:17.820 these are the kitchen towels,

00:51:19.280 the main,

00:51:19.660 the main in the USA,

00:51:21.140 my pillows,

00:51:22.000 the beds,

00:51:22.740 the mattress toppers,

00:51:24.400 everything site-wide

00:51:26.000 for the warring posse

00:51:27.280 using that promo code warroom.

00:51:30.020 And you can call

00:51:31.220 800-873-1062.

00:51:34.500 Tell them that you're

00:51:35.240 from the warring posse,

00:51:36.520 that promo code warroom,

00:51:37.780 and you get that 50%

00:51:39.460 off sale early.

00:51:41.280 Steve,

00:51:41.780 we're going to have

00:51:42.380 a great time in D.C.

00:51:43.520 and I'm looking forward

00:51:44.760 to coming on tomorrow

00:51:46.040 with the White House

00:51:46.800 right in the background

00:51:47.600 there and celebrate

00:51:48.460 the 4th of July.

00:51:51.880 Perfect.

00:51:52.660 Mike Lindell

00:51:53.300 in Washington,

00:51:54.060 C.

00:51:54.260 Lindell goes to D.C.

00:51:55.280 We love it.

00:51:56.740 Now you're going to

00:51:57.180 meet the president.

00:51:59.860 Want a full report tomorrow.

00:52:02.500 Other activities,

00:52:04.200 the president's going

00:52:05.460 to go to Iowa,

00:52:06.500 Monica Crowley,

00:52:07.400 this is for the kickoff

00:52:08.320 of the Celebration

00:52:09.860 of America 250.

00:52:12.300 Monica Crowley

00:52:13.020 is going to be

00:52:13.540 on Air Force One.

00:52:14.480 We're going to try

00:52:14.840 to get Monica

00:52:15.400 on the show tomorrow

00:52:16.420 as the Ambassador Crowley,

00:52:19.300 I should say,

00:52:20.100 about protocol.

00:52:21.120 Talk about what's

00:52:21.700 going to happen

00:52:22.060 in Iowa at the rally.

00:52:22.900 We're going to cover

00:52:23.300 that wall-to-wall

00:52:24.280 on Thursday.

00:52:26.780 Short commercial break.

00:52:27.840 Make sure Birch Gold,

00:52:28.780 take out your phone.

00:52:29.680 Text Bannon

00:52:30.400 at 989898

00:52:32.200 to get the ultimate guide

00:52:33.480 for investing in gold

00:52:34.580 and precious metals.

00:52:35.940 Stick around.

00:52:36.640 Another hour of the war room.

00:52:38.320 Those gur бы may Não

00:52:40.140 not be able to

00:52:40.460 notice it wasn't

00:52:41.460 bad in gold.

00:52:42.760 It pastor Innocent

00:52:43.160 ruído

00:52:43.440 and really

00:52:44.060 hot in alto

00:52:44.380 are not

00:52:44.680 going to see

00:52:45.100 as an awesome

00:52:45.360 as a player.

00:52:46.420 It is a player

00:52:47.280 to the immediate

00:52:47.920 teaching.

00:52:48.500 Like,

00:52:49.060 we're going to

00:52:49.760 have a

00:52:50.480 training

00:52:51.440 that was

00:52:51.500 we are going

00:52:52.020 to be

00:52:52.460 training

00:52:53.740 with

00:52:54.660 both

00:52:55.680 seis

00:52:56.140 and

00:52:56.920 we're going

00:52:57.500 to do

00:52:59.280 order

00:52:59.720 to

00:53:02.000 give

00:53:04.100 our

00:53:04.660 workshops

00:53:06.000 to

00:53:07.400 start

Episode 4601： Big Beautiful Bill Passes Senate And Onto The House

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Misogynist Sentences

Hate Speech Sentences

Summary

Transcript