Rand Paul joins the show to talk about the Middle East, foreign aid, and a brilliant new idea that could save every baby in America $1,000 in a tax-free account to their name. Recorded in Los Angeles, CA!
00:00:55.000His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
00:01:03.000We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
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00:01:52.000The breaking news today is that President Donald Trump is in Saudi Arabia announcing a closer partnership with many Gulf states.
00:02:00.000Something I know that you and I both care about is trying to prevent a war with Iran.
00:02:04.000It seems as if some of the neocons in D.C. have been talking about more and more military engagement in Yemen and against Iran.
00:02:11.000How do you think we should balance an alliance with some Gulf states all the while trying to prevent another no-win endless war in the Middle East?
00:02:20.000You know, I commend the president for going to the Middle East.
00:02:22.000Some of the Democrats are up in arms, you know, criticizing it.
00:02:26.000But part of diplomacy is showing up, being in the areas, talking to the leaders, and then ultimately trying to, you know, resolve differences with diplomacy rather than war.
00:02:37.000I do think that the wars in the Middle East and the tension in the Middle East, sometimes we don't pay enough attention to the conflict that is between Iran and Saudi Arabia and the Gulf states.
00:02:46.000So there's a considerable amount of tension, and it goes into the thinking of Iran as well, not just their animosity or relationship with the U.S., but also their relationship.
00:02:57.000With Israel, which is pretty obvious, but then also their relationship with the Gulf states as well.
00:03:02.000And ultimately, to get to some sort of peace agreement with Iran, I'm proud of President Trump for actually opening dialogue and discussion, but to get to peace, ultimately it has to, I think, sort of include some of the Gulf states as well, including Saudi Arabia.
00:03:18.000So Saudi Arabia could be a more constructive player here, and hopefully that's part of the discussions.
00:03:25.000Yeah, and so let's broaden this a little bit more.
00:03:28.000There are some in D.C. that seem so insistent on trying to escalate military tensions with Iran.
00:03:36.000You are, without a doubt, one of the most morally clear and principled members of the Republican conference against war and actually want to see us invest money in our own country and to defend liberty.
00:04:09.000It's just airstrikes against an airfield.
00:04:12.000I think nobody wants them, including myself, to have nuclear weapons.
00:04:18.000Strictly from a military point of view of how we prevent that, once they get to enrichment of, say, 95% to 98%, you can probably have a cupful of uranium that is enriched that much, and that can be enough for a bomb.
00:04:31.000So once you have about 10 cupfuls, you've got enough for 10 bombs, and can that be hidden in places that you can't militarily get to without a ground invasion and taking over every inch of Iran?
00:04:58.000They, they have an economy that hurts.
00:05:01.000They have an economy that doesn't do very well.
00:05:03.000Their people aren't necessarily that happy.
00:05:05.000But I think we should use our sanctions in a way we rarely do, and that is to trade them, trade sanction relief and trade and the benefits that come up with that, allowing them to participate in the world market in exchange for them not enriching.
00:05:17.000And there have been discussions of them not enriching or anything they've enriched above a certain amount, trading that out and not enriching above a certain percentage.
00:05:28.000And I think that's something we ought to explore.
00:05:31.000And I'm excited, at least optimistic, that these discussions are ongoing.
00:05:37.000So the one big, beautiful bill is working its way through Congress.
00:05:41.000I would like to see a lot more spending cuts.
00:05:44.000I wish that we would have a much more serious intent on trying to trim the federal deficit and, of course, eventually the federal debt, the national debt.
00:05:53.000What is your take on the early drafts of this big, beautiful bill?
00:05:56.000I'm sure there are some things that you would support.
00:05:59.000And are you thinking of voting for it?
00:06:03.000Where are you standing on this reconciliation bill?
00:06:06.000So in 2017, I voted for the Trump tax cuts and they became the Republican tax cuts.
00:06:11.000And this was done through reconciliation.
00:06:16.000I think they created that economy that Trump was always bragging about with the lowest historic unemployment before we got into the pandemic.
00:06:23.000I'm still for all of that, and I'm for making it permanent.
00:06:32.000I think they'll end up being wimpy, but I would still support the bill, even with wimpy spending cuts and permanent tax cuts, if we weren't going to increase the debt ceiling by $5 trillion.
00:06:43.000And the reason why the debt ceiling is so important to me and used to be important to most conservatives...
00:06:49.000Is that the debt ceiling is adding everything up and gives you a simple number that represents really what's going to happen.
00:06:55.000So when they tell you they're going to cut $800 billion or $1.5 trillion, the numbers are confusing and you don't know exactly what that means.
00:07:16.000There will be a deficit of $2.2 trillion.
00:07:19.000We will spend $2.2 trillion, or Congress will, more than comes in.
00:07:23.000And you say, well, whose responsibility is that?
00:07:25.000Well, the first half of the year was Biden and the Republicans who supported the Biden levels.
00:07:30.000But then we got to March and almost every Republican, myself and a few others opposed this, almost every Republican voted for the Biden spending levels in March.
00:08:43.000You promised us these spending levels.
00:08:45.000Now you're giving us these spending levels.
00:08:47.000Maybe we have a debate whether we're going to vote for any more debt ceiling.
00:08:51.000So I think the debt ceiling vote could be a lever.
00:08:53.000So instead of voiding the debt ceiling and let it go two years and just ignore the debt as it accumulates, let it go three months and come back and let's have this debate every three months.
00:09:05.000The doge cuts have to come back to us.
00:09:08.000And so about three or four weeks ago, we got a promise from the administration for $9 billion.
00:09:15.000Well, $9 billion is a lot to you and I, but to the government, it's a rounding error.
00:09:20.000So the deficit this year is going to be $2.2 trillion.
00:09:23.000If you cut it $9 billion, it's going to be $2.191 billion.
00:09:28.000It's a rounding error, and yet it still hasn't come to us because I think they're worried that there are too many weak-kneed Republicans that we can't even cut $9 billion.
00:09:37.000This is the $9 billion that was like sex chain surgeries in Guatemala, trans comic book in Peru, trans opera in Colombia.
00:09:57.000It's not enough, but I'll vote for it, and let's see who won't.
00:10:00.000And the people who won't really either know to go to the Democrat Party or be reelected by real Republicans, because if we can't cut $9 billion, the future of the republic is hopeless.
00:10:11.000We are going to be devoured by debt if we can't even cut $9 billion.
00:10:16.000I want to just compliment you and encourage you to get your colleagues serious about cutting spending.
00:10:22.000Simultaneously, I hope that when the chips are down, if we can get a good deal, not a wonderful deal, that you'll consider voting for.
00:10:30.000But right now, we need to get back to penny plan.
00:10:32.000We've got to get to pre-COVID baseline spending because we are a nation on the verge of a fiscal and financial apocalypse.
00:10:39.000And you've been principled about this since the very start of you in politics.
00:10:43.000And final thoughts, 45 seconds, Senator.
00:10:46.000Well, I've said I will vote for the bill if they remove the debt ceiling from it.
00:11:28.000Once you vote for Biden's spending levels, which they all did in March, they have assumed the problem.
00:11:33.000The deficit now belongs to the Republicans and the Democrats, but we're losing the faction of the Republicans who could stand on high moral ground and say, I didn't vote for that.
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00:12:50.000President Donald Trump is in Saudi Arabia right now issuing a pretty amazing speech.
00:13:00.000It's an America rally in Saudi Arabia.
00:13:04.000So for those of you guys keeping score...
00:13:07.000What is Saudi Arabia and what is the significance of it?
00:13:11.000Well, Saudi Arabia is the wealthiest of all the Gulf states.
00:13:15.000Founded by the House of Saud, Saudi Arabia occupies the majority of the Arabian Peninsula.
00:13:22.000Saudi Arabia basically won the lottery, the largest oil reserves in the world, and is able to extract that oil at the lowest cost on the planet.
00:13:34.000Saudi Arabia was a group of radical Islamist Bedouin tribes that struck liquid gold.
00:13:43.000And it's no exaggeration to say that the current crown prince, the son of the king, who will then of course become king, Mohammed bin Salman, is rapidly trying to diversify Saudi Arabia into a modernized economic country.
00:14:02.000He's not quite there on the social or political reforms, but they're making some progress.
00:14:09.000He's rolled back their religious police a lot.
00:14:12.000And this is all happening in Riyadh, Saudi Arabia, which is the center of all this activity.
00:14:19.000Now, mind you, Saudi Arabia also has a lot of power in the Islamic world.
00:14:24.000It is a commandment in Islam to go to Saudi Arabia once in your life, to do the Hajj, as they call it.
00:14:32.000I believe it's one of the five pillars of Islam, which is to pray three times a day and to...
00:16:47.000Number one, almost all of the international capital has partnerships, has relationships, or has friends between Saudi Arabia, Qatar, and the UAE.
00:16:57.000If you want to rebuild the American economy, keeping those Gulf states neutral, if not happy, is important.
00:17:04.000But President Trump is brilliant because we want to bring Saudi Arabia, Qatar, and the UAE in our direction.
00:17:42.000But if President Trump, being the master statesman, is able to negotiate some friendship and some relationship with these Gulf states, he's then able to diplomatically ice out China When China needs these three actors, Iran alone is not enough energy to fuel the beast that is becoming the Chinese Communist Party's economy.
00:18:02.000There's so many other dynamics at play here, involving the Russian-Ukrainian war, American investment, trillions of dollars of capital.
00:18:10.000President Trump making a state visit to Saudi Arabia is brilliant.
00:18:14.000And in an ironic way, it's actually putting America first.
00:18:21.000You know what's keeping me up at night?
00:20:00.000And listen, just listening to Rand Paul, your conversation about Saudi Arabia, it's great to be here.
00:20:06.000I'm actually flying wingman to David Sachs, helping to spread the AI accelerationist theme in this part of the world, and it's going incredibly well.
00:20:15.000And so I thought your comments were spot on.
00:20:21.000The Ways and Means Committee this week included it in the Reconciliation Act.
00:20:25.000And what it is, it's a very simple idea.
00:20:28.000We want to restore and reconnect people to capitalism by giving every child born in America a $1,000 investment account seated in the S&P 500.
00:21:00.000So companies, Dell Corporation, Uber Corporation, NVIDIA, AMD, Oracle, etc., have all said that if we set this up, they'll add money to the accounts of their kids and their employees.
00:21:11.000We've had states suggest that they will add money to the accounts.
00:21:15.000States like Maine, where they already set up accounts at birth.
00:21:18.000So I think this is really just setting up a financial infrastructure that will unleash capitalism by making every child born a capitalist and aligning them with the upside of free enterprise.
00:21:30.000So we're really excited that the House – We want to give people a stake in the ownership economy.
00:21:51.000So, Brad, let me make sure I understand this correctly.
00:21:54.000President Trump will be able to say, hey, everybody, open up your Invest America app.
00:21:59.000That new baby has a $1,000 in a one-way lockbox investment account.
00:22:06.000President Trump will be able to brag to millions of people that your kid already has equity in the American dream.
00:22:12.000This could be transformational for lower-income, Hispanic, working-class whites, black Americans in this country.
00:22:33.000He's probably going to call them the Trump account, but there are going to be 40 million kids.
00:22:37.000If we can get this done, if we can sign it on July 4th of this year when he passes the Reconciliation Act, then when we have our 250th anniversary, July 4th of 2026.
00:22:48.000We can launch 40 million families and kids with their own private account, their own ownership in the upside of America.
00:22:56.000What better way to celebrate the 250th anniversary of this country than to start everybody off on this journey with a dividend in the upside of the American economy?
00:23:05.000He pulled me aside at this party and you were like, the way that you synthesized it, what is the major problem?
00:23:10.000And by the way, one of the reasons we're winning young people on campuses is I diagnosed this problem.
00:23:15.000They have debt and they're cynical and they are then...
00:23:18.000They become socialists because they have envy and greed.
00:23:22.000If all of a sudden, by the age of 18, you have a tax-free S&P 500 account that could go from $1,000 to $20,000 to $30,000 to $40,000, you have real skin in the game, and you are a co-owner of the...
00:23:38.000And so, Brad, let's riff on this just a little bit more, and then you've got to run back to all of our Saudi friends there.
00:23:45.000This could change the game and make people capitalists at age 7. I could imagine a bunch of 9- and 10-year-olds being like, Our stock is up today.
00:23:54.000By the way, if you win a spelling bee, they could be like, hey, I'm going to put $25 into your Invest America account.
00:23:59.000If you win a sports championship, it's a way where moms, dads, grandfathers, companies, employers, you can tokenize this where kids can actually then save their entire childhood and have something to point forward to and be co-owners in America, not just renters.
00:25:05.000I think it's going to unlock so much human potential and continue to drive the productivity and the economic growth that we need in this country.
00:25:16.000President Trump gets this reconciliation bill as it's written, and you are pushing it.
00:25:20.000If you have a baby in December, $1,000 in a tax-free account, what is the call to action for this audience to make sure this becomes a reality?
00:26:21.000So Brad's idea is this, and we're going to get this done in the reconciliation bill.
00:26:26.000Upon birth, assigned to your Social Security number in a one-way lockbox, $1,000 loan from the Treasury is put in that is then basically a 401k for kids.
00:26:38.000The kid cannot access it until they turn age 18. It grows tax-free.
00:27:12.000So all of a sudden, If Erica and I have another baby, social security number, $1,000 there, I then can be like, hey, we're going to put $100 a month into this one-way Dropbox.
00:27:26.000It's not sophisticated wealth management.
00:27:28.000You're betting on the future of America, basically.
00:27:31.000And then these kids at age 10, 11, 12 can open up their app and say, wow, that's my money that is growing.
00:27:37.000And when I turn 18, I will be able to access that money.
00:27:41.000And President Donald Trump, on our 250th anniversary, the bicentennial next July, he'll be able to make a speech telling Americans, I just gave your kids money that no other politician will, and Democrats are going to vote against it.
00:27:56.000And we might even have a baby boom as that number goes up.
00:28:00.000And so these kids then could just let it ride until they're 65 if they want, or by the time they're 18, that $1,000, by the way.
00:28:07.000Just so we are clear, you are going to see people that are worth $50 or $100 billion be like, I'll give $20 billion towards this.
00:28:16.000You're going to see major companies that instead of donating to Black Lives Matter, instead of donating to all this trans stuff, we're going to put pressure on companies like NVIDIA, pressure like Johnson& Johnson.
00:28:29.000Instead of doing all that nonsense, go give a billion dollars to Invest America.
00:28:35.000You're going to see major philanthropists.
00:28:39.000In schools, if they want to encourage good behavior, if they say, hey, if you're on time to school every single day, we'll put $100 into your Invest America account.
00:28:51.000It's going to become a tally scorecard for future generations to be able to get real money that they can't access because we don't want them to access at their 13. They know what they're doing.
00:29:01.000But it's an incentive structure where they can aim towards something.
00:29:06.000And if it's just the $1,000, that money on average will double every seven years if you average a 10% annual return.
00:29:15.000And you could even be as provocative as saying like, hey, we're going to put $500 if you don't have any truancy, any delinquency, and any crimes that you're committed for $18.
00:29:26.000We're going to put $500 a year into your Invest America account.
00:29:30.000Major charities, instead of saying, hey, we're going to go give money to racial justice, we're going to go to the city of Chicago until every young kid in Chicago, primarily black kids, we're going to go put $1,000 a year into your Invest America account if you don't commit crimes in your 14, 15, 16, 17. All of a sudden, instead of joining a gang, they might be like, man.
00:30:45.000Of all the garbage that we spend money on, you know, Sesame Street in Iraq and transgender surgeries and just the most insane stuff, we should then pump this up even more.
00:30:58.000And again, imagine being raised in a country.
00:31:02.000Where now you're 5, 6, or 7 years old and your parents can then teach you about economics from an ownership standpoint.
00:31:09.000And what's amazing is a lot of these families have actually no money.
00:31:57.000Instead, it's for the kid that is raised seeing their parent go paycheck to paycheck to say in the back of their head, I got something waiting for me.
00:32:51.000So they could go spend all that money on a new mRNA gene-altering vaccine or some goofy thing in Haiti that's not going to make any difference.
00:32:58.000Or Bill and Melinda Gates can combine with Zuckerberg and Bezos and they can say, all right, we're going to go put $50 billion together and scatter it into Invest America accounts.
00:33:09.000It's a much better way to do it than funding some racket NGO in the Congo.
00:38:18.000If you look at a chart, and even if you would have bought at the top of the market before the crash in 2008 and you did not sell, You would have quintupled your money over the last 17 years.
00:41:26.000All of a sudden, if they have hope on an app that shows what they can own, hey, I don't know if I'm going to go do all that nefarious activity.
00:41:34.000Because when I'm 18, I'm going to do very well.
00:41:38.000A morale boost to youth who worry about buying a home.
00:41:41.000A morale boost to a country that needs it desperately.