As President Trump arrives at the Museum of the Bible to address the Religious Liberty Commission, Dr. Peter Navarro joins us live from the White House to discuss the day's news, including China's massive military parade and Kim Jong-un's historic meeting with President Trump.
00:00:44.480Look at the pictures that dominated this week's world news.
00:00:48.640The vivid illustrations of the failure of Donald Trump's foreign policy.
00:00:52.860The images that captured most attention were of China's massive military parade and of Xi Jinping, Vladimir Putin and Kim Jong-un striding together.
00:01:05.340A reminder that the West faces a determined set of adversaries who see it as their mission to destroy the Western-led international order.
00:01:13.980What was surprising were the images from the days before when the Shanghai Cooperation Organization hosted leaders from India, Turkey, Vietnam and Egypt, among others.
00:01:26.740All these regional powers were generally considered closer to Washington than Beijing.
00:01:32.020But a toxic combination of tariffs, hostile rhetoric and ideological demands is moving many of the world's pivotal states away from America and towards China.
00:01:45.500It may be the greatest own goal in modern foreign policy.
00:01:49.900These are powers that have very different ideologies.
00:01:54.100Nationalist, communist, theocratic in the case of Iran, which is sometimes part of this group.
00:01:59.300What unites them is their dislike of us.
00:02:04.320And by us, I mean the democratic world, the language of rule of law, the language of transparency, the language of accountability.
00:02:12.360Because, of course, that's the language of their own internal oppositions.
00:02:16.560And China and Russia in particular, but the rest as well, have been working for many years to delegitimize that language,
00:02:23.300to get the idea of human rights, for example, out of international documents, international institutions,
00:02:28.820and instead promote an idea that, using the word sovereignty, which, by the way, is a word that the Trump administration also uses,
00:02:37.900by which they mean you can't, no one can criticize us, and we get to decide what happens inside our own countries,
00:02:45.080and also if we feel like invading other countries, nobody can object.
00:02:48.440The White House says it will advance a $5 billion pocket rescission.
00:02:52.980It's a legally dubious attempt to claw back money that Congress has previously approved.
00:02:58.040A pocket rescission is a rarely used maneuver.
00:03:00.520Normally, if the president wants to rescind some funding, he can ask Congress to review it and authorize the change.
00:03:06.160Congress typically has 45 days to consider it.
00:03:09.160But a pocket rescission attempts to bypass that by introducing the matter so late into the process
00:03:14.700that Congress doesn't have enough time to weigh in.
00:03:17.480Again, the fiscal year ends at the end of this month, 23 days away.
00:03:22.840If the White House moves forward with that, it essentially amounts to an authoritarian attempt
00:03:27.640to strip away Congress's explicit power of funding the government, the power of the purse.
00:03:34.020That's why it's more important than ever for Democrats to play hardball, to fight fire with fire,
00:03:38.120and some are suggesting that that means being prepared to shut down the government,
00:03:42.560rather than funding it on Donald Trump's terms.
00:03:45.440Monday, 8th September, year of early, 2025, right there.
00:10:32.900I understand you and President Trump and Besson and others are trying to work out a very complicated deal with China.
00:10:38.720But I just look around the world, and I see that they're buying – they're 100 percent energy source from three parties.
00:10:48.260Russia, which they should be sanctioned if we're going to sanction India.
00:10:51.440The Mullahs in Persia, which we've already, I think, technically sanctioned that,
00:10:56.640and I don't know why we're allowing oil to come out of the Straits of Hormuz to China,
00:11:02.960both on cargo ships we know or oil tankers we see, plus black market.
00:11:08.700Then we have an amphibious battle group, the Iwo Jima battle group with 4,000 Marines down there on an expeditionary force off of Venezuela,
00:11:19.560of which I believe China has also taken oil from Venezuela, which I think we kind of sanctioned that too.
00:11:24.620Isn't there a logic here that if we just implement the sanctions that I think we've talked about on Russia,
00:11:33.000the Mullahs in Persia, and Madar in Venezuela, that the Chinese Communist Party essentially has zero energy,
00:11:40.680and then you can bring them to the table a little bit easier, sir?
00:11:43.800Look, we're walking a fine line here with all of this.
00:11:52.400I think that what's got to happen is India's got to stop buying Russian oil.
00:11:58.180That's going to be good for the whole peace.
00:12:00.740The road to peace partly runs through New Delhi.
00:12:03.960Europe certainly has to stop buying Russian oil.
00:12:08.720And dealing with Iran and Venezuela, that's got to happen.
00:12:13.320I mean, look, with China, we've got over 50 percent tariffs on them,
00:12:18.880and we're doing the best we can in terms of negotiating to protect the American people without hurting the American people.
00:12:26.540And that's the kabuki and the art of diplomacy that we've got going on.
00:13:29.440And we know, Peter, that you and Bob Lighthizer worked for two years, two years on a deal that President Trump was the master architect of.
00:13:40.900For two years, you guys negotiated with Li He.
00:13:45.200In May of 2019, after they agreed to the deal, right, when they thought they had one belt, one road going – in fact, it was at the same Shanghai cooperation agreement.
00:13:55.520This is when they were really rolling out one belt, one road, and Putin was there.
00:13:58.840They tore the deal up and spit in our face.
00:14:01.080I mean, can you – it just seems we're on a path with these guys that at some point in time – you know, we're the hard decouple group here.
00:14:10.580And I understand President Trump can't do that.
00:14:12.220You can't do that because you're trying to, you know, manage a world economy.
00:14:16.860But do you believe, or does the White House believe, the senior people around President Trump, that we can trust these guys?
00:14:22.380Because now they feel they're on a roll, sir.
00:14:44.580So that was the first big trade deal I worked with Bob.
00:14:48.660And then once we got the skinny deal in January of 2020, you know, they come here, and they knew when they were sitting in the East Wing that the virus was about to descend on the world.
00:15:05.540They took that deal, and they basically didn't follow through on it, right?
00:15:10.500And then, you know, we've had some issues with the whole Rare Earths deal where some letter versus spirit of the agreement and things like that.
00:15:20.780Like, nobody can trust the communist Chinese.
00:16:06.480What happened is that Peter and I stepped back in 17 and let Gary Cohen and the Commerce Department, Wilbur Ross, they wanted to do their thing after the Mar-a-Lago meeting.
00:16:17.960And, of course, it was an epic fail because it basically gave everything to the Chinese.
00:16:21.580And President Trump says, we're not doing that.
00:16:25.420He says, no, no, no, we're not going to do that.
00:16:26.780He deputized Lighthizer Navarro to work under him directly for two years, two years, and made a deal that integrated the Chinese Communist Party into the global economy.
00:16:41.740It took care of the seven original sins of the Chinese Communist Party's, you know, not just counterfeiting, but state-owned industries, excess capacity, dumping, all of it.
00:16:51.120It was all negotiated over two years with Lee Hu, who was one of the senior guys.
00:16:56.220In tearing that up, don't they show that they have no interest in being part of an organized entity that is the world economy?
00:17:04.220I mean, they criticize you and President Trump for being isolationist.
00:17:09.100We are America first and want American sovereignty.
00:17:12.800But these deals, the restructuring of this commercial relationships with the world are to also benefit the world to make sure that their economies appropriately can grow.
00:17:23.060But doesn't this show that we're chasing our tails here a little bit because the Chinese Communist Party is not only can't you trust them, and President Trump will work out trust but verify.
00:17:33.020But at the end of the day, they have no interest in being part of a system that the Americans control.
00:17:40.720Sir, I think you're missing one of the big parts of the story.
00:17:47.320Remember when Bob and I were negotiating with the Chinese to get that big deal at the time, we had already imposed significant historic tariffs on China through Section 301.
00:18:48.260And I remember very clearly standing right here on this ground, the Chinese telling us they were going to bury us in a sea of virus if we dared.
00:18:58.660And I was the only one who dared in this administration to say that that friggin' virus came from Wuhan.
00:19:05.260So what am I saying here, that we've got supply chain issues with the communist Chinese that we've got to deal with.
00:19:38.880That's one of the reasons she's starting to squirm.
00:19:42.060OK, so you've essentially given the world.
00:19:44.760President Trump's given the world two options, either if you want to get through the golden door to the golden market, you're going to have to pay a tolling fee.
00:19:52.940Or you can shift your production over here.
00:19:56.140Now, the Hyundai situation, it appears, at least from local people we're hearing in Georgia, people going to tick tock, that the reason it was people started calling ICE was local people.
00:20:11.660And I think Christian groups were saying the 400 of the 475, 300, I think, were Koreans that they weren't paying them any money.
00:20:21.680They couldn't go to any food bank or have anything because they were here illegally.
00:20:26.740How do you and President Trump sort out the sort out the reality?
00:20:30.040I mean, he went up on on true social and said, yo, when you come here, you're going to have to you're going to have to train local Americans.
00:20:37.760How do you walk me through this Hyundai because they're one of the most powerful companies in the world, the one of the dominant countries in Korea.
00:20:44.760And Mo and Grace are just over at the at the, you know, the great conference put on by Mina Kim, you know, with the young Korean people about turning that thing around from the CCP controlled government they have.
00:20:56.640So so walk me through the Hyundai situation.
00:20:58.700Well, I think here's what we have to understand.
00:21:10.620What these countries are doing is they're they're coming over this country and other countries where they can transship from and they bring their equipment, lock, stock and barrel.
00:21:22.600They bring their management, lock, stock and barrel.
00:21:25.080And in this case, for example, they brought their own employees from their own country and it's exploited them.
00:21:32.540So I think what's what's what's we're in the West, we're sometimes Steve, we're just so friggin naive.
00:21:39.520And so going forward, as we welcome all these trillions of dollars of investment, I think there has to be some awareness that, hey, if they're going to come over and invest over here,
00:21:50.960they're going to use American workers and the American supply chain here, you just can't set up a factory here and become like an assembly line using cheap American labor.
00:22:03.440You've got to have good jobs for Americans.
00:22:05.780I mean, it's like the reason why why we have tariffs now on European autos is because they were turning South Carolina into a low weight sweatshop assembly plant for Mercedes Benz.
00:22:17.860I mean, there was like one model they sent over.
00:22:20.900It had ninety nine percent of all the content of the car was was Sherman or Hungarian.
00:22:30.500And no, it's like but the sheriff's in town.
00:22:35.000He's right about over there, although he's out and about now at that conference you're about to televise.
00:22:40.440And I just want to assure everybody in the war room, we know what people are doing out there, whether it's China or other trading partners.
00:22:48.980We're not going to let them get away with it.
00:22:50.780And the American worker in particular is going to see their wages go up and their job prospects expand.
00:22:57.760No, the the employment numbers for native born Americans is just enormous.
00:23:03.300By the way, what Dr. Navarro is talking about, we're going to go live momentarily when President takes the stand, takes the takes the stage over at the Religious Liberties Commission conference.
00:23:17.320Peter, you know, they're all over the president has has deputized or militarized the National Guard and had him in D.C. to clean up this mess.
00:23:28.740I was telling people on the Saturday show, I was with some folks, I think on Friday in Georgetown at a dinner who are, I would say, not Trump fans.
00:23:38.300And to a person, they were talking about how much safer the city was, how much safer Georgetown is, how much safer everything is.
00:23:46.200I mean, they were saying this high hosannas, although not one of them would come out publicly and say that the Atlantic magazine and all the, you know, Morning Joe and everybody's the authoritarianism.
00:23:59.400He's going to New York, going to L.A., the authoritarianism.
00:24:02.720The Atlantic magazine is taking a different approach, but along the same lines.
00:24:07.040They're calling what President Trump and you and the team and Scott and the team over at the White House and Treasury are doing is Peronism.
00:24:39.600You hear it all the time that they're now – their line of attack here is going to be this is an authoritarian economy based upon Peronism where you have a strongman that just makes decisions, sir.
00:24:50.800Well, let's talk about economics and let's talk about law and order.
00:24:57.920Let's start with the law and order first.
00:24:59.520I mean, here in D.C., what people have to understand is that years ago there was a significant crime rate, but it was isolated to certain neighborhoods.
00:25:12.200And shame on the government of the District of Columbia for essentially letting black neighborhoods become just shooting galleries.
00:26:05.320So if the left wants to call Latin something bad, I encourage them to keep doing it because they're going to get their frigging ass kicked at the polls by people who understand the difference between violence and safety.
00:26:28.580It's like people want to be safe in their homes and on the streets and in their cars and not have to worry about their loved ones going out when they're home.
00:26:59.820Perron, the first time in, which was a long time, he was in from 40, 1946 to 55, post-war, when countries were getting like off the ground, having been knocked down.
00:27:12.760And he instituted a regime of tariffs that was actually quite effective, Steve.
00:27:18.780It brought back a lot of their domestic industries and workers who were Perron's main base, saw their real wages increase significantly.
00:27:30.300But Perron made one big mistake when he was doing that.
00:27:34.660In addition to the tariffs, he aggressively taxed the exports of agriculture.
00:27:42.360And that was that was that was a disaster.
00:27:46.740And so he just and now the other thing to obviously say is that when you think about a country tariffing, small countries dependent on the rest of the world to export cannot do that.
00:28:02.720They don't have the power and it shows up in things like elasticity and supply and demand.
00:28:11.440On the other hand, there's very good economic theory and practice that shows that the largest market in the world, the United States, actually benefits greatly by having tariffs.
00:28:24.040There's a whole literature on optimal tariffs for dominant countries and dominant economies.
00:28:29.440And that's why every other country in the world that we're negotiating with will negotiate with us.
00:28:36.660I mean, if Denmark tried the same thing, said Donald Trump is doing for the United States, people would laugh at Denmark.
00:28:43.300They're not laughing at Donald John Trump.
00:28:45.400They're working with Donald John Trump.
00:28:47.720And it's just I mean, it's a fundamental restructuring of a trade system that has been killing us since the end of World War Two.
00:29:00.040We liberated the world at the end of World War Two and they stole our economy.
00:33:01.360Now, the Justice Department withdrew their brief, which is a tacit admission that, of course, there's substantial issues.
00:33:09.600But by law and by ethics, they damn well got to say why they did it, Steve, so that going forward on the appeal, the appeals court understands, the amicus, which they want to be understands.
00:33:53.180The book's going to be a huge bestseller because it gives you an inside baseball account of the struggle when President Trump was out of office to make sure that he was properly defended and not crushed.
00:34:03.480By Lisa Monaco, now the head of Microsoft's legal department, maybe the guys putting together the tech dinner should have thought of that before, putting Bill Gates next to the president.
00:34:14.420Dr. Navarro, where do people go on your social media, sir?
00:35:00.060I'm still going to kick your ass on the September 13th.
00:35:02.460No, I'm going to explain to everybody out there why having to sleep in a dorm with 40 guys is a lot more dangerous than having a bunkie in a little cell where you were hiding out.
00:39:49.120But as everyone in this room understands, it is tyrants who are denying our rights and the rights that come from God.
00:39:57.460And it's this declaration of independence that proclaims we're endowed by our creator with the right to life, liberty, and the pursuit of happiness.
00:40:06.980The senator from Virginia should be ashamed of himself for many things, for many things, for things even beyond that.
00:40:18.740But in his own way, nothing's more important than those words.
00:45:11.900And we worked together in the first administration so much on going through that horrible epidemic that we went through.
00:45:18.960A couple of epidemics we had to go through, a couple of really bad ones.
00:45:22.600But we worked together, and I helped financially with your church and your schools, keeping your schools going, and it was an honor to do so.
00:52:20.180To support students like Hannah, I'm pleased to announce this morning that the Department of Education will soon issue new guidance protecting the right to prayer
00:52:28.780in our public schools and it's total protection.
00:52:56.380Also with us is 12-year-old Shea Encinas from California.
00:53:04.080Last year in fifth grade, Shea was forced to read a book to a kindergarten student promoting a message of radical gender ideology that is contrary to his religious beliefs and ours.
00:53:17.720I'd like to have Shea come up and tell the story.
00:54:03.300I've been a Christian my whole life and Jesus means everything to me.
00:54:06.160When I was in fifth grade, my school forced me to teach my kindergarten buddy about changing his gender using a book called My Shadow is Pink.
00:54:14.140The book said you can choose your gender based on feelings instead of how God made us.
00:54:18.740I knew this was not right, but I was afraid of getting in trouble.
00:54:21.880After my family spoke up, the school treated us badly and kids started bullying me and my brother because of our faith, and the school did nothing to stop it.
00:54:31.560It hurt a lot, but I kept trusting God.
00:54:33.380I believe kids like me should be able to live our faith at school without being forced to go against what we believe.
00:54:40.800I hope no other family has to go through what mine did.
00:55:05.100On day one of my administration, I signed an executive order to slash federal funding for any school that pushes transgender insanity on our youth.
00:55:23.600We also banned the chemical and surgical mutilation of our children.
00:55:52.440But could you imagine, Sirius, I'm just thinking to myself, transgender for everybody, men playing in women's sports, all of the different things we talk about.
00:56:02.020And if you were here 15, 20 years ago, and if somebody made a speech about transgender for everyone, I always say trans because for everyone, transgender, we have some states that actually can force it upon you without the parents' notification or approval.
00:58:53.620And then when I asked for support, it was like stone cold silence.
00:58:56.800They said, we have something called the Johnson Amendment that if a pastor, minister, rabbi or imam or anybody says anything about politics, you can lose your tax exempt status.
01:00:55.480I said, you mean, when I heard that and I said to the other people, that means that you should be the most powerful people on Earth, in a sense.
01:05:59.020But as part of our tax cuts, we've created a massive tax credit for school choice scholarships so that you can send your child to a school that shares your values and you get tax credits and all sorts of good things happening.
01:06:17.000And I'm also taking action against anti-Semitic and anti-Christian bias in our institutions of higher learning.
01:06:59.080But we've launched sweeping civil rights and Title IX investigations into more than 60 colleges going on currently and universities to stop their violations of civil liberties and First Amendment freedoms.
01:07:11.920And, you know, we're involved very much in Harvard.
01:07:14.440That's one that people seem to be reading about more than others.
01:08:30.680In recent years, we've seen far too many violent attacks perpetrated against Americans of faith, beautiful Americans of faith, including in our schools and places of worship.
01:09:05.740Our hearts are shattered for the families of those beautiful children.
01:09:09.100And I've made clear Attorney General Pam Bondi is working really hard that we must get answers about the causes of these repeated attacks.
01:09:18.660And we're working very, very hard on that.
01:09:20.860And the Trump administration will have no tolerance for terrorism or political violence, and that includes hate crimes against Christians, Jews, or anybody else.
01:18:15.920I got the Olympics, you know, because I'm a little bit of a selfish person, I guess I said, you know, I got the Olympics and Obama would not call.
01:18:23.260I'll never forget the head of the Olympic Committee called and the mayor of Los Angeles called me and he said, sir, the president will not talk to them.
01:18:32.200You know why? Because he traveled to Geneva or wherever to make the presentation and he came in fourth.
01:19:54.500But we are going to create a great party and a great celebration.
01:19:57.940And I'd like to ask a very good friend of mine, Secretary Scott Turner, to come up and say a few words about some of the things we're doing.
01:20:41.820It's an honor to serve under your leadership, sir, and to be a part of this tremendous cabinet.
01:20:48.280How many know we have a godly, faithful cabinet?
01:20:52.020And a cabinet that prioritizes prayer.
01:20:57.780On July 3rd, Mr. President, of this year, you kicked off the year-long celebration of America's 250th birthday in Iowa.
01:21:06.440You invited America's faith communities to come together to pray for our country.
01:21:12.940Well, Mr. President, America's faith communities are responding with overwhelming enthusiasm, as you can see here today.
01:21:19.540Today, more than 70 major faith organizations and churches have joined together to participate in what we're calling America Praise.
01:21:30.740In fact, many of you are here today, including leaders from Pray.com, Hallowed, the National Religious Broadcasters, the Faith and Freedom Coalition, Intercessors for America, and many, many others are here with us.
01:21:44.060And I want to take a moment, if you are here today, and you have joined this faith movement, America Praise, please stand, if you're here this morning.
01:21:51.940Please, if you're here, stand and let us see you.
01:22:07.680What if one million people prayed for our country every single week between now and next July 4th?
01:22:18.560More specifically, what if believers all across this great nation got together with 10 people, friends, family members, colleagues, work associates,
01:22:30.40010 people each week to pray for our country and for our fellow citizens?
01:22:41.840Ten people getting together to pray for our country and for our citizens.
01:22:47.680Think about the miracles that would take place over the next year.
01:22:52.680Think about the transformation that you and I could witness in communities all across the land.
01:22:58.960Children, sons returning to their fathers, daughters returning to their mothers, families coming back together, health being restored, financial needs being met, mountains being moved.
01:24:14.480It ignites an indescribable power of hope within you and within me.
01:24:22.020It's a light that's felt for all of those in whom we intercede and pray for.
01:24:27.760And you've all heard faith leaders across the country quote 2 Chronicles 7 14, which says,
01:24:34.060If my people who are called by my name will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven and I will forgive their sins and will heal their land.
01:24:49.680On behalf of President Trump and ultimately, the Lord God Almighty, who calls us to pray without ceasing, I am inviting all Americans to pray with unwavering faith for the renewal of our nation and our fellow citizens.
01:26:40.060We pray, Lord Jesus, that you would give us great favor and understanding, Father God, as we bow our knee before you, as we humble ourselves before you.
01:26:49.500And, Lord God, we thank you that it's starting even right now, that families will come back together, sons will return to fathers, daughters will return to mothers, healing and revitalization will take place.
01:27:20.420And, God, we know that from this day until on that great day, July 4th of 2026, when we celebrate 250 years, that, Lord God, from now to then and forevermore, you will be glorified and honored.
01:27:33.900And, Father, we pray for a sweet celebration.
01:27:37.420And, Lord God, that all people of all faiths, Father God, will come together, Lord, not just Democrat, not just Republican, but all American people will come together under the banner of Yahweh, of God Almighty.
01:27:49.860And, Lord God, we praise you and we thank you and we love you.
01:32:29.560I think the non-essential are getting bottom-blown.
01:32:31.720And you want to talk about deconstructing the administrative state?
01:32:35.660That's the way to do it, is to get rid of literally, because remember, there's two and a half million civilians, employees.
01:32:43.980There's two and a half million, roughly, uniform.
01:32:46.800And then there's about five million, I don't know, consultants that are at the level of actually making some sort of administrator or managerial decision.
01:32:54.460So that's about 10 million people overall.
01:32:57.360They covered a lot by having so many of those consultants or non-permanent employees working.
01:33:48.560Scott Bessence's amazing piece in the Wall Street Journal, I think on Saturday morning, came out Friday afternoon.
01:33:59.700And then it was in the, I think, Journal of International Economy, 27 pages long, where he goes through, in detail, breaking apart the Federal Reserve.
01:34:08.080That has not gotten the coverage that it should have.
01:34:12.780Number one, the media does not want to talk about it.
01:34:15.060One of the ways they keep power here is the central bank.
01:34:18.180Scott Bessence, first cut of his restructuring of the Federal Reserve, because he said the Federal Reserve has suffered from gain-of-function, gain-of-function issues.
01:34:30.080They have essentially weaponized the central bank against the people of the United States, as Fauci would use gain-of-function to take these viruses and weaponize them,
01:34:42.880determine the biological weapons, of which you know from the COVID-19 got visited upon the American people through the Wuhan lab, through the Chinese Communist Party.
01:34:52.460So your two alternatives, if you don't shut down the government, are going to be an omnibus, and they may have a cute name for it, but that's going to be presented to you.
01:35:02.460An omnibus takes you all the way through the fiscal year, but is just packed with horrible things.
01:35:08.960One thing on the NDA they're trying to slip in is an artificial intelligence amnesty.
01:35:14.000All those demons that were at, all those demons that were at the, around the President's table the other night, foisted on him by David Sachs and others, are, you know, absolutely outrageous.
01:35:28.600I believe the President, I've asked my staff to cut, I think he made a comment in there about Biden's administration, about people that had come after him, and he said, I think, quote,
01:35:38.080they're not getting any jobs, have I heard that correctly?
01:35:41.580Somebody's got to tell the President, Lisa Monaco, who essentially ran the Justice Department, put Peter Navarro in prison, put me in prison, but more importantly came after President Trump.
01:35:50.900All the attacks of President Trump from Maine Justice came through her.
01:35:55.540She was the Deputy, she was the Deputy Attorney General of the United States.
01:36:04.520Mr. President, if you're under the, if you're under the understanding that these people are not getting jobs, that just would not be correct.
01:36:13.220The folks around you, particularly the tech bros, are not informing you because you had Bill Gates, not, you know, Bill Gates and vaccines after Bobby Kennedy gets eviscerated that day in the star chamber that was the Senate with people that had taken millions of dollars.
01:36:30.520You know, it was tens of millions when we added all up historically, the whole crowd trying to go after Bobby Kennedy.
01:36:37.160Well, Bill Gates is right there, and Lisa Monaco now is the general counsel at Microsoft.
01:37:02.280When your best options are sitting out, this is a CR with rescissions.
01:37:07.340And as you know, these rescissions have gotten, and pocket rescissions particularly where they don't go back to Capitol Hill, which is the moral equivalent of impoundment, has people on Capitol Hill.
01:37:20.340Well, we cut all these deals, and we work so hard, and we have bipartisan agreement on the appropriations.
01:37:26.280And then the president just comes in and essentially just takes out what he wants to take out.
01:37:31.060You're damn right, because you guys have not cut spending.
01:37:34.680My understanding and great belief is that on the 30th of September at midnight, the deficit for fiscal year 2025, which is the one that we're in, will be about $1.8 to $1.9 trillion.
01:37:49.680And I said it was going to be $2.8, hey, close, but we'll see when it's all added up.
01:38:00.480They're saying it could be $1.8, but even a $1.8, you can't.
01:38:04.340And remember, we accepted Biden and Nancy Pelosi's math.
01:38:08.500At least this would be President Trump's math, but my understanding is it's going to be a $2 trillion potential deficit in a fiscal year, fiscal year 26, which is the one that starts October 1st.
01:38:28.200Maybe inflation, maybe, you know, spending, what, $1.4 trillion now in interest payments on the debt.
01:38:35.840Maybe it's because of the Berks nation.
01:38:37.660Maybe it's because of the weakening of the dollar.
01:38:40.360Maybe it's because the gold's on a run.
01:38:43.200All of those, because gold's been a hedge against this.
01:38:47.040You can't continue on like this, but if you do the one, nine, and the two, right, that's what?
01:38:51.800The three, nine, four, you start to understand whether the debt ceiling was kicked up $5 trillion.
01:38:58.740At some point in time, somebody's going to have to say stop.
01:39:02.960Where you stop, to stop, you must start.
01:39:06.300And where you must start is the defense budget.
01:39:09.900If you do the defense budget, if you do the defense budget, we can then make the argument and get hands around the social welfare programs.
01:39:19.200And eventually, when you prove to the American people that you were responsible, you're taking care of that, then you can get into a conversation about the entitlements and start redoing laws on that, right?
01:39:30.860To make sure it's equitable and fair and all those sorts of things.
01:39:33.500But you can't even have a discussion on that.
01:39:35.520And you shouldn't have a discussion until you prove that you can do something with discussion on your spending.
01:39:38.840Now, let me go back to the NDAA and defense spending.
01:39:43.300Huge article in Politico and Everywhere of how Bridge Colby has written the defense policy statement, which is essentially the overall strategy coming from the Joint Chiefs of Defense Department of the United States.
01:40:00.420When we took the White House the first time, President Trump said, hey, the global war on terror is no longer our top priority, taking on the Chinese Communist Party is.
01:40:10.960And, of course, the apparatus had to throw in Russia.
01:40:14.760Although Russia was not, I can tell you, was not a priority at the time as much as the Chinese Communist Party.
01:40:22.620The Chinese Communist Party is still running the deal.
01:40:24.240They're running the deal with the Russians right now because they help finance them, they give them weapons, and they buy their oil and natural gas in huge output deals.
01:40:34.620And now they're actually financing the Siberian gas and oil fields.
01:40:40.720I pull today's Monday's Financial Times of London.
01:40:45.580And lo and behold, look at that headline right there.
01:40:47.920Russian energy giants turn to China for fundraising as economic ties grow, right?
01:40:55.840The Chinese Communist Party has been financing this, of course, up there also as the prime minister of Japan is resigning.
01:41:54.540They're dropping the bucket compared to the problem, but they show that they're prepared to do more.
01:41:59.600That's why you either have a CR, and I don't see getting the 60 votes, but hey, so you're either going to have a CR, which this audience hates.
01:42:08.480I understand that, but it'll have rescissions attached, or there'll be an omnibus, and we're going to have to fight that because I think there's going to be enough goodies in that for the Democratic senators.
01:42:18.700They're going to say, yeah, yeah, yeah, we'll get on board that.
01:42:21.920Either way, there's going to be a fight coming up, and what's the downside of shutting down the government?
01:42:30.520Force the Democrats, because then you've got essential, non-essential, and if you're non-essential, you've got to have a discussion of do we need this?
01:42:38.240Because right now, we should just be financing the essential.
01:42:41.360When I talk about the essential, to go back to the NDA, Bridge Colby writes this strategy paper about hemispheric defense, and everybody in political environment,
01:42:48.920where, oh, they're talking about the homeland and abandoning the rest of the world, that's not what they're saying, and that's not what's happening.
01:42:54.080But they are saying hemispheric defense.
01:42:58.480It's kind of Monroe Doctrine on steroids.
01:43:00.840We have to take care of the hemispheric defense and the vast Pacific that connects our territories in the Western Pacific to us is the strategic pivot.
01:43:13.940And you've got from the Panama Canal to Greenland.
01:43:28.060But they're saying – and this is the difference.
01:43:30.560President Trump, when he talks fentanyl, he looks at that as a chemical weapon of the Chinese Communist Party, not just something coming through a cartel,
01:43:39.240not just something they're making money on, which is bad enough, and he wants to stop.
01:43:43.160So kinetic activity against the cartels is something that's part of hemispheric defense.
01:43:50.060Now, if you're talking about regime change in Venezuela, that may be a different kettle of fish because regime change that doesn't come from the country's grassroots,
01:43:59.660you know, decapitation leads to problems as Iraq and Afghanistan have shown us, that it has to be really driven by the will of the people in these countries.
01:44:09.200This is why I keep saying, hey, if the Mullahs are ideal, just cut them off from the oil.
01:44:17.120I still think it's almost 80 percent – maybe with Russian oil now it's not as high, but I think at one time it was 80 percent of the CCP's energy needs.
01:44:25.520Their energy needs were coming out of the Persians.
01:44:30.420Straits of Hormuz can be in the Gulf – the Persian Gulf and the Straits of Hormuz easily blockade, easily you can stop and turn those vessels around.
01:44:38.100And you do the black market that they get about half of it from, from the Mullahs.
01:44:45.580First off, you literally shut down the Mullahs.
01:44:49.180You'll have the Persian people overthrowing themselves, which is the way it has to happen.
01:44:52.800You can't do a decap. That's why I'm so adamantly opposed to this, getting involved in another war.
01:44:59.480And for Israel and for the Jewish people, hey, the threat from you has come as Sadiq Khan in London and Imam Dhani in New York City.
01:46:02.300Why we saw this was going to happen and want to make sure that we could explain it to the audience so that you can use it to learn how to fish, not give you a fish dinner.
01:46:11.280The feedback is tremendous, and we're working on a print edition right now.
01:46:58.680This July, there is a global summit of BRICS nations in Rio de Janeiro, the bloc of emerging superpowers, including China, Russia, India, and Persia,
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01:47:26.540While this transition won't not happen overnight, but trust me, it's going to start in Rio.
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