The Charlie Kirk Show - The Midnight Rally of the Big Beautiful Bill

00:00:00.000 Hey everybody, it's the other Charlie Kirk show.

00:00:01.000 We're here at the Bitcoin.com studio.

00:00:03.000 That's the Bitcoin.com studio.

00:00:04.000 The big, beautiful bill is about to pass.

00:00:06.000 President Trump has successfully moved the Overton window.

00:00:08.000 We explain in phenomenal detail exactly what that means.

00:00:12.000 Email us as always, freedom at charliekirk.com.

00:00:15.000 Become a member today, members.charliekirk.com.

00:00:18.000 That is members.charliekirk.com.

00:00:20.000 As always, you guys can get involved with Turning Point USA.

00:00:24.000 That is tpusa.com.

00:00:26.000 That is tpusa.com.

00:00:28.000 So check it out today at tpusa.com.

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00:01:26.000 Buckle up, everybody.

00:01:27.000 Here we go.

00:01:28.000 Charlie, what you've done is incredible here.

00:01:30.000 Maybe Charlie Kirk is on the college campus.

00:01:32.000 I want you to know we are lucky to have Charlie Kirk.

00:01:35.000 Charlie Kirk's running the White House.

00:01:39.000 I want to thank Charlie.

00:01:40.000 He's an incredible guy.

00:01:41.000 His spirit, his love of this country.

00:01:42.000 He's done an amazing job building one of the most powerful youth organizations ever created, turning point USA.

00:01:49.000 We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.

00:01:58.000 That's why we are here.

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00:02:27.000 Tomorrow is Independence Day, and it looks as if we are going to have a wonderful Independence Day in this country.

00:02:32.000 As you can see in the picture in picture, we have Hakeem the Dream Jeffries going on.

00:02:39.000 He's doing some sort of house equivalent of a filibuster.

00:02:42.000 It's not going to work.

00:02:43.000 The House of Representatives worked long through the night to officially pass the rule, and the final vote should be coming up today to pass the big, beautiful bill.

00:02:52.000 And here's what's so amazing about what Hakeem the Dream is doing is that there are so many elements of the bill that I forgot about.

00:02:59.000 I'm learning so much about this bill thanks to Hakeem.

00:03:03.000 You see, having our enemies recite the bill back to us about all the terrible thing that it's going to do for deportations and planned parents, I'm like, my goodness, this is much better than I realized. 0.96

00:03:14.000 I mean, I knew that it was pretty good.

00:03:15.000 I knew that it was about 80 to 90% of the pie, but now I'm getting up to that 95% figure.

00:03:20.000 Late last night, around 1 a.m.

00:03:22.000 Eastern, I was on the phone with members of Congress, some of the holdouts, some of the holdouts.

00:03:26.000 I said, guys, what are you doing here?

00:03:27.000 I said, it's 1 a.m.

00:03:28.000 Eastern.

00:03:29.000 Thankfully, I have West Coast Advantage.

00:03:31.000 This is one of the great things about being on Pacific time is that being three hours behind, it's like only 10 p.m., which is a little past my bedtime.

00:03:38.000 But I stayed up a little bit later to try to help however I could contribute to the fight.

00:03:43.000 And I was talking to some of the holdouts.

00:03:45.000 I said, look, guys, I'm fans of all of you.

00:03:47.000 I'm a fiscal hawk.

00:03:48.000 We need to balance our budget.

00:03:50.000 But what is the concern here?

00:03:51.000 Because if you guys change this bill and it goes back to the Senate, it very well might die in the halls of Lisa Murkowski and Susan Collins.

00:03:59.000 So what is the objection here?

00:04:02.000 And finally, we got to a place where they said, well, we're going to go vote for it.

00:04:06.000 We need to try to just get some horse trading done.

00:04:08.000 I said, fine, there's no issue with that.

00:04:10.000 And that's exactly what ended up happening late into the evening.

00:04:13.000 And now, Hakeem, he's getting a little upset.

00:04:16.000 Hakeem is now doing a non-stop type filibuster.

00:04:19.000 But honestly, he's doing the PR for all of us.

00:04:22.000 He is now our public relations official.

00:04:26.000 He is going element by element of the bill, bragging about how it's going to be the largest deportation army the country has ever seen, talking about how this is going to cut taxes for working people.

00:04:41.000 No tax on tips, no tax on overtime, no tax on Social Security, the largest working class tax cut in American history. 0.64

00:04:49.000 The border will be completely and totally fortified.

00:04:52.000 We're going to have a golden dome.

00:04:54.000 Remember the Trump baby accounts, the baby bonus accounts for investment accounts.

00:04:59.000 Every new baby born will get a $1,000 investment account, one-way Dropbox that will not be able to be accessed by anybody and not accessed until they're 18 years old.

00:05:10.000 And billionaires, financiers, aunts, uncles, moms, dads, grandfathers, schools, competitions, sporty teams can contribute into that investment account and it will grow throughout their life so that we are creating an economy of owners.

00:05:25.000 And then one thing that I'm extremely passionate about, Republicans have long talked about defunding Planned Parenthood.

00:05:33.000 But guess what?

00:05:33.000 It's happening.

00:05:34.000 Planned Parenthood is getting their funding shut.

00:05:36.000 It's only for a year, but it's still a victory.

00:05:39.000 It's only for a year, but that still is going to completely derail the funding mechanism of Planned Parenthood.

00:05:44.000 And we need to make sure that this is a continually thing.

00:05:47.000 Planned Parenthood is a Democrat super PAC.

00:05:50.000 Regardless of your opinions on abortion, they ran ads against Donald Trump.

00:05:54.000 They engage in political advocacy against Republicans.

00:05:57.000 We are financing a multi-hundred million dollar Democrat super PAC.

00:06:03.000 Not to mention they lie about all of the health care nonsense.

00:06:08.000 They are an extension of the DNC.

00:06:10.000 Period.

00:06:10.000 Hard stop.

00:06:11.000 Play cut 435, Hakeem the Dream, he is very upset about the cutting of Planned Parenthood.

00:06:19.000 Play Cut 435.

00:06:22.000 All out assault on the care.

00:06:26.000 Mr. Speaker, being provided By Planned Parenthood, the medical care being provided by Planned Parenthood.

00:06:38.000 He is dollar store Obama.

00:06:40.000 I'll tell you what.

00:06:40.000 This guy, you could buy him at a discount.

00:06:43.000 He's not even good at this.

00:06:45.000 Another tweet this morning from a guy by the name of Ian Bremer.

00:06:49.000 I don't know really where he's from, but his tweets get a lot of attention.

00:06:54.000 It's phenomenal.

00:06:55.000 How big of a deal is the ICE investment?

00:06:58.000 The Big Beautiful bill passing would make the budget for ICE larger than most of the world's militaries.

00:07:05.000 ICE will be a larger standing army as far as budget than the Israeli military, than the Italian military, than the Dutch military, and the Brazilian military.

00:07:16.000 Let me just comment on something.

00:07:18.000 If Israel only spends $30 billion in their military and they're able to get that kind of precision, they're much more efficient with the money that they spend than we spend a trillion dollars.

00:07:27.000 I'm just saying.

00:07:28.000 Anyway, that's a whole side note.

00:07:29.000 I'm kind of impressed that Israel only spends $30 billion a year on their military compared to what America spends.

00:07:36.000 We spend a trillion dollars and we got a lot of waste there, but we have to, we're going to fix that at a different juncture.

00:07:43.000 ICE will now be one of the largest standing military forces in the world.

00:07:47.000 And if that bothers you, then you are probably an illegal alien.

00:07:50.000 If that bothers you, you're probably harboring illegal aliens. 0.91

00:07:53.000 If that bothers you, you're probably employing illegal aliens. 0.99

00:07:56.000 You probably run a restaurant, a farm, a meat packing facility.

00:08:00.000 You probably employ those that should not be here, and you are breaking federal law, and your employees are breaking federal law.

00:08:06.000 8 USC 1312, 8 USC 1350, harboring illegal aliens, not notifying the government of where you are, why you are here.

00:08:15.000 And now ICE will finally have the thrust, it will have the gusto to be able to reverse the invasion.

00:08:21.000 Do you understand how hard it is to reverse a domestic invasion?

00:08:24.000 We are embarking on one of the most difficult, challenging, ambitious, and daunting domestic policy projects in American history.

00:08:32.000 Forget the Hoover Dam.

00:08:33.000 Forget going to the moon.

00:08:35.000 Forget the Adam bomb, the Manhattan Project. 0.92

00:08:38.000 This is far more daunting.

00:08:39.000 You are talking about removing human beings that Democrats have allowed to attach themselves to the social welfare state.

00:08:47.000 This is one of the most daunting and ambitious public policy projects in the history of the country.

00:08:56.000 And we're going to get it done.

00:08:59.000 Here is Dollar Store Obama 437 saying a deportation machine will be unleashed on steroids. 0.52

00:09:05.000 You better believe it.

00:09:06.000 This is what we voted for.

00:09:07.000 This is what we need.

00:09:08.000 This, again, of all the major accomplishments that America should be proud of, Panama Canal, Louisiana Purchase, Hoover Dam, the highway system, this is going to go up there.

00:09:19.000 When we are done and we have Project 10 million, we could say that we remove 10 million people from the country, plus self-deportations, it will go down as one of the most remarkable and significant projects in history. 0.93

00:09:33.000 Play Cut 437.

00:09:35.000 Speaker, that's not what this country should be all about.

00:09:41.000 Manu wasn't the only one, the only American citizen who's been targeted by the deportation machine, a deportation machine that will be unleashed on steroids by this one big, ugly bill.

00:09:53.000 We know that, in fact, is the case.

00:09:55.000 That's not hyperbole.

00:09:56.000 It's not hyperbole.

00:09:57.000 It is reality.

00:09:59.000 Hakeem Jeffries is doing the PR for this bill for us.

00:10:04.000 And if we are serious about reclaiming the country and fulfilling the mandate and fulfilling the agenda, then this bill absolutely must pass.

00:10:17.000 And it will pass in the coming hours.

00:10:19.000 Is it perfect?

00:10:19.000 No.

00:10:20.000 Does it cut enough spending?

00:10:21.000 No.

00:10:22.000 Does it still have some green new scam elements in it?

00:10:25.000 Unfortunately, yes.

00:10:26.000 Does it spend too much on projects we shouldn't?

00:10:28.000 In some places, no.

00:10:30.000 Yes.

00:10:30.000 In some places, yes.

00:10:31.000 But on the tax cuts, the Trump baby accounts, the defunding of Planned Parenthood, most of the repealing of the Inflation Reduction Act, the working class tax cut, no tax on tips, no tax on overtime, not to mention the border.

00:10:47.000 You might be tempted to think that we're blowing smoke selling this bill to you.

00:10:51.000 But when you hear our ideological and political enemies confirming everything we said, maybe now you will believe us.

00:10:58.000 And even some of the hardened critics online that were like, oh, this is a terrible bill, they're starting to do a little backpedal.

00:11:03.000 Beep, beep. 0.92

00:11:04.000 They're backing up a little bit because they start to realize that the people that are the sworn enemies of the United States, which Hakeem Jeffries is, he's a sworn enemy to this republic.

00:11:12.000 He is now, this is the worst bill ever.

00:11:14.000 Ooh.

00:11:15.000 Well, if you don't like it, I love it.

00:11:18.000 Because we are going to unleash that deportation machine to get done what we need to get done.

00:11:25.000 It'll be messy at times.

00:11:26.000 There'll be speed bumps.

00:11:27.000 It's not always easy.

00:11:29.000 But I'll tell you right now, we're going to get it done.

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00:12:29.000 So what does this mean for the American economy?

00:12:31.000 Well, joining us on the next segment will be Treasury Secretary Scott Besson.

00:12:34.000 We're going to go through all of the economic implications of this bill and understand, if you were to rank it, what is the most important part of the agenda?

00:12:47.000 What is the most important part of the mandate?

00:12:50.000 If you had to rank it, is it no men and female sports?

00:12:55.000 That's important.

00:12:56.000 Is it foreign policy?

00:12:59.000 What is the Most important thing, the centerpiece of President Trump's political journey from the escalator to July 4th signing ceremony, the centerpiece is mass migration.

00:13:12.000 Now, just understand how far we have come, and admittedly, how far I have come.

00:13:16.000 We've all come on this journey together.

00:13:19.000 I have become more focused and definitely deeper of understanding on the immigration issue.

00:13:27.000 We went from, it was controversial to say build the wall.

00:13:31.000 That was like a major controversy.

00:13:33.000 And President Donald Trump, what we're about to see happen with the signing of this bill is a masterclass in the Overton window.

00:13:42.000 What is the Overton window?

00:13:43.000 We explain this every so often on our program.

00:13:46.000 The Overton window is a political theory that describes the range of ideas considered acceptable or mainstream.

00:13:54.000 The spectrum goes from unthinkable to radical to acceptable to sensible to popular to policy.

00:14:01.000 It's a six-step move.

00:14:03.000 What you are witnessing in real time is the movement of the Overton window over a decade.

00:14:09.000 This is a political science class, so take out your pencils and your pens, everybody.

00:14:13.000 I'm about to walk through it in about four minutes.

00:14:15.000 So the Overton window goes through the spectrum very quickly of something that is totally unthinkable.

00:14:23.000 So 10 years ago, it was unthinkable in public life, in politics, and in the Republican Party to say that we need mass deportations.

00:14:33.000 You would be called a racist.

00:14:36.000 They would kick you out and they'd say you're a terrible person.

00:14:39.000 It was even controversial to say, let's build the wall.

00:14:42.000 What President Trump did is he moved the unthinkable, building the wall, into what was then considered radical.

00:14:50.000 So it goes from unthinkable to radical.

00:14:53.000 And then it became acceptable and then it became sensible.

00:14:56.000 Thank you.

00:14:56.000 That's right there.

00:14:57.000 Sensible, then popular, then policy.

00:15:01.000 But no one, even in the first term, think about it.

00:15:04.000 In our first term, we didn't even talk about mass deportations because we were talking about the wall all the time.

00:15:10.000 Now we don't even bat an eye at the wall.

00:15:12.000 People roll their eyes.

00:15:13.000 Okay, great.

00:15:14.000 $40 billion for the wall.

00:15:15.000 But what about the deportations?

00:15:17.000 And that is the power of the Overton window.

00:15:20.000 Because now the wall is popular policy.

00:15:23.000 No one even disagrees with it.

00:15:24.000 Yeah, yeah, fine, build the wall.

00:15:25.000 But what about all these people in my community that are raping and stealing and chasing kids?

00:15:33.000 And so what happened when President Trump is he kept on moving issues through the Overton window by just magnitudinal force, by just unapologetic grit, by size of personality.

00:15:48.000 And again, the last, let's get that up there.

00:15:51.000 The last piece of the Overton window is what?

00:15:54.000 Policy.

00:15:56.000 You win when what you start as a salvo, as narrative, as rhetoric, becomes policy.

00:16:05.000 Joseph P. Overton coined this term many years ago.

00:16:09.000 And think about how the left has used it.

00:16:10.000 They used it for same-sex marriage.

00:16:12.000 They used it for DEI.

00:16:13.000 They used it for marijuana legalization.

00:16:16.000 They used it for the transgenderism.

00:16:18.000 And by the way, the Overton window could go back because the Overton window on transgenderism became policy.

00:16:23.000 And then we knocked it back to popular, sensible, acceptable.

00:16:26.000 And now transgenderism is considered to be radical or unthinkable.

00:16:30.000 So it can go both ways.

00:16:32.000 But President Donald Trump, do you notice he's never gone backwards in the Overton window?

00:16:36.000 This is the most important, profound point of the Trump presidency, the Trump movement over 10 years.

00:16:42.000 The Democrats have gone backwards in the Overton window.

00:16:44.000 President Trump has only gone forwards.

00:16:47.000 Not a single issue that President Trump has championed over the last 10 years has he gone backwards in the Overton window spectrum.

00:16:54.000 He has only gone forwards where the Democrats have gone nowhere but backwards on the Overton window.

00:16:59.000 They've gone backwards on war.

00:17:00.000 They've gone backwards on trans issues.

00:17:02.000 They've gone backwards on every major cultural issue.

00:17:07.000 This is 438.

00:17:08.000 We don't have time to play it, but Bill Melusian saying in June, there were zero illegal immigrants released into the United States.

00:17:14.000 So what President Trump did and what is now culminating in a massive signing ceremony tomorrow is the crescendo.

00:17:22.000 It is the final move of he started at a campaign rally a decade ago when everyone thought he was a joke at Trump Tower.

00:17:32.000 And he said, they're coming into our country. 0.99

00:17:35.000 We have to build the wall and we have to remove them.

00:17:37.000 And people laughed.

00:17:39.000 No one else would have had the strength and the endurance and the guts to do it.

00:17:43.000 The old Republican Party retreated on every single issue and Trump advanced from the unthinkable to the radical, the acceptable to the sensible to the popular.

00:17:52.000 And tomorrow on Independence Day, that 10-year journey becomes policy.

00:18:00.000 Hey, everybody, Charlie Kirk here.

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00:19:02.000 We are honored to have the Treasury Secretary of the United States.

00:19:06.000 And honestly, one of the unsung heroes of this administration, just a loyal operator executing on the president's agenda.

00:19:14.000 And all of a sudden, you look at the market and we're at record highs and he's been a superstar.

00:19:19.000 It is Scott Bessant, Mr. Secretary, great to see you.

00:19:22.000 Thank you for joining us.

00:19:23.000 First, I just want to say you have kept your head down and we have trade deals with Vietnam and inflation is low and wage growth is up and we have trusted you and trust the process.

00:19:32.000 Before we get into the big, beautiful bill, what is the state of the American economy?

00:19:37.000 It's in transition, Charlie.

00:19:39.000 And again, thanks for having me.

00:19:42.000 Thanks for everything you do.

00:19:45.000 The economy is in transition.

00:19:47.000 As I've said, we are reprivatizing the economy.

00:19:50.000 We had this blowout government spending from the Biden years, biggest that we'd ever seen, 6.7% deficit to GDP when we weren't at war or weren't in a recession.

00:20:01.000 So we are taking away from the government spending, bringing it over to the private sector.

00:20:08.000 And the centerpiece on that, President Trump is going to sign tomorrow the one big beautiful bill is going to create what I call parallel prosperity.

00:20:19.000 So it is the Tax Cuts and Jobs Act and the power of that for business.

00:20:25.000 And then for working Americans, no tax on tips, no tax on overtime.

00:20:31.000 85% of seniors will not be paying tax on Social Security.

00:20:35.000 And you will be able to deduct auto loans for American-made cars.

00:20:41.000 So I think that the transition will begin tomorrow if the Hakeem Jeffries can ever sit down and let the Republicans vote.

00:20:53.000 And then on Monday, I think that we are going to unleash a capital spending boom in the U.S., which will first manifest itself in construction and then lead to a pickup in manufacturing jobs like we haven't seen in decades.

00:21:13.000 So now emphasizing the Big Beautiful Bill even further, I am doing every fall and spring a massive campus tour.

00:21:21.000 And young people repeatedly are worried that they are entering a renting economy, not an ownership economy, that they want to be able to have the same access to buying a home and buying assets like their parents did.

00:21:35.000 What does this bill do to help the next generation, specifically those that are graduating college, to be able to have their piece of the American dream, be able to own homes and not just be lifelong renters?

00:21:49.000 Well, out of the blocks, I think we are going to see that it will increase real wages.

00:21:55.000 It's going to bring down inflation. 0.89

00:21:58.000 And for your generation, you've gotten a bad deal.

00:22:02.000 That the Biden administration, the great inflation post-COVID, which they knew was coming, but they didn't care because they wanted to blow out the spending.

00:22:11.000 They also put on substantial regulations.

00:22:15.000 So what happens was you got a demand shock from the government, but then all this regulation created the inflation.

00:22:27.000 So that created supply constraints.

00:22:29.000 That's how you get inflation.

00:22:31.000 So what we are doing is we are going to create a demand shock.

00:22:35.000 We are going to see the private sector take over.

00:22:39.000 And the private sector is how you get good paying jobs where you can get real wage increases in excess of inflation.

00:22:49.000 And on the other side, away from the one big beautiful bill, the rest of our agenda is deregulation.

00:22:58.000 And there's a thought that deregulation would bring costs for the average household.

00:23:03.000 So let's say for a single average household will be about $10,000.

00:23:07.000 So let's say for a single person, that'd be about $2,500.

00:23:12.000 So we are laser focused on ending this affordability crisis.

00:23:19.000 Once we have finished trade and taxes here at Treasury, we're going to take on the student loan portfolio.

00:23:27.000 We don't have a solution for what's going on there, but I do think that just forgiving student debt was unacceptable.

00:23:36.000 But I think that there is a firm and humane way to deal with the student debt crisis.

00:23:45.000 And we are going to be focused on that here at Treasury because for many young Americans, they've started out post-college with the equivalent of a mortgage.

00:23:56.000 So we're going to be working on that.

00:23:59.000 But the real thing here, and again, it's depending on what you're doing, is I started my career out.

00:24:08.000 I lived on tip wages.

00:24:11.000 So no tax on wages is a pretty good start.

00:24:14.000 The no tax on tips, by the way, is major.

00:24:16.000 We're going to see now more money in consumers' pockets, which will stimulate bottom-up consumer spending.

00:24:24.000 But I do want to, and I love all of that.

00:24:26.000 And I agree with you on the student loan situation.

00:24:28.000 First of all, we shouldn't penalize the blue-collar workers that don't have student loans, but we have to find some way to navigate this.

00:24:35.000 I think we got to get colleges to start to pay it.

00:24:37.000 That's my opinion.

00:24:38.000 Start to have colleges have some portion of the student loan repayment.

00:24:42.000 But I want to put 439 up on screen here.

00:24:44.000 This is the real blue-collar wage growth.

00:24:47.000 This is a remarkable accomplishment, Mr. Secretary, that I know you want to emphasize.

00:24:54.000 Walk us through what we are seeing on this chart here.

00:24:56.000 This is officially from the Department of Treasury.

00:24:58.000 It's year-to-date real hourly earnings, growth for production and non-supervisory workers.

00:25:05.000 What are we looking at here?

00:25:06.000 So, Charlie, what it shows us is that President Trump is the working American president.

00:25:14.000 So for the first five months of any presidential term here, we go back to Richard Nixon.

00:25:20.000 President Trump's current term since January 20th has seen the fastest blue-collar wage growth, 1.7% real hourly earnings.

00:25:33.000 And that the second biggest wage growth was in President Trump's first term.

00:25:42.000 So we can see the dedication that his policies have for working Americans.

00:25:49.000 And all this is before the one big, beautiful bill kicks in.

00:25:54.000 And so you've mentioned this on previous segments, and I want to emphasize this.

00:26:00.000 The tariffs we were told were going to collapse the economy.

00:26:05.000 We were told that the entire trade portfolio was going to result in just economic collapse.

00:26:14.000 What would you say is driving this?

00:26:16.000 And how will tariffs then play into this massive tax cut deregulatory agenda?

00:26:23.000 So, Charlie, it's amazing what President Trump has done since January 20th.

00:26:30.000 And maybe we'll talk about it later, but it's peace deals, trade deals, and tax deals, which everyone said couldn't be done or certainly couldn't be done by the 4th of July.

00:26:42.000 We've all seen he has transformed the discussion in the Middle East, Congo and Rwanda, which hasn't gotten much publicity.

00:26:52.000 He's working on Russia-Ukraine.

00:26:56.000 We're going to sign this tax deal tomorrow.

00:26:59.000 And then to your question on tariffs, we have changed the discussion here on the trade fairness with the U.S. The president has used tariffs.

00:27:13.000 As I always say, Alexander Hamilton was the original tariff man.

00:27:18.000 He liked tariffs for two reasons.

00:27:20.000 One, to protect U.S. industry.

00:27:22.000 Two, revenues for the Treasury.

00:27:24.000 And now three, President Trump is now using tariffs to negotiate.

00:27:30.000 And here at Treasury, at the Commerce Department, USTR, the trade representative, there is long-term senior staff who in 20, 30 years said that they have never seen the deals that we are getting from tough countries, like Vietnam, some of the other trade deals that we're going to announce.

00:27:52.000 But the dog that didn't bark was the idea that tariffs were going to collapse the economy.

00:27:58.000 They were going to create big inflation, that they were going to kill the stock market.

00:28:03.000 As you said earlier, we're at a new high in the market.

00:28:07.000 And for my 35-year career in the financial investment business, I always listened to what the market was telling me.

00:28:17.000 And the market is saying that this is good for the economy.

00:28:23.000 And in terms of paying down debt, I don't agree with the CBO scoring on the deficit, but I always counter the people who want to quote the CBO.

00:28:33.000 I said, CBO says that there's going to be $2.8 trillion, $2.8 trillion of tariff income over the next 10 years.

00:28:43.000 And that pays down a lot of debt.

00:28:47.000 Yeah, and it offsets the working class tax cuts. 0.58

00:28:50.000 It offsets the necessary tax cuts.

00:28:54.000 In closing here, Mr. Secretary, I know you got to run and you have a lot in front of you.

00:28:59.000 Of all the big beautiful bill elements, what parts are you most excited about that you don't think have gotten adequate media attention?

00:29:07.000 We have the $1,000 baby investment account.

00:29:10.000 We have obviously some drill baby drill. 0.71

00:29:13.000 What do you wish as Treasury Secretary of the United States would get more attention that you think is going to supercharge growth in the economy?

00:29:21.000 Parts of this major bill, please.

00:29:23.000 I think, Charlie, what I like about this bill is the parallel prosperity.

00:29:28.000 So it's good for business, good for working people.

00:29:35.000 And the intersection of that is really in this 100% expensing for equipment.

00:29:43.000 And for the next five years, you're going to be, if you're building a factory in the United States, you're going to be able to expense 100% of the factory structure.

00:29:54.000 So we have made the United States of America the best place to start a business, deregulation, tax certainty.

00:30:01.000 But now you can write the entire, all your equipment expenses off in one year.

00:30:08.000 And I tell you, in the first Trump term, that is what drove the growth because it is real after-tax returns or what drive productivity.

00:30:25.000 And we are in the middle of this big productivity boom.

00:30:28.000 So as I said, I would expect starting on Monday, all these projects that have been on hold waiting for the certainty for the tax bill, this expensing is going to be very powerful.

00:30:40.000 And we made it permanent.

00:30:41.000 Are we going to see any rate cuts?

00:30:42.000 I know you can't tell us any insight information, but too late, Powell.

00:30:46.000 What is going on here?

00:30:46.000 Because we need to start to see rate cuts.

00:30:48.000 It's major for the economy.

00:30:51.000 The market's pricing in, two rate cuts for the year, that seems about right.

00:30:56.000 The two-year bond is much lower than the overnight rate.

00:31:01.000 And when asked about the Fed, I said, look, if they don't go sooner, it just means they have to do more later, which is the history of being late.

00:31:12.000 Well, President Trump has branded him as too late, pal.

00:31:14.000 Mr. Secretary, again, sincerely, you are working your tail off.

00:31:18.000 It's appreciated.

00:31:18.000 It's noticed.

00:31:19.000 And thank you for all of the accomplishments.

00:31:21.000 And it's hard to believe it's not even been six months.

00:31:23.000 We have your back.

00:31:24.000 Thank you so much.

00:31:25.000 Good, Charlie.

00:31:26.000 Thanks.

00:31:26.000 Always good to be with you.

00:31:27.000 You too.

00:31:28.000 Thank you.

00:31:29.000 What a great interview.

00:31:29.000 By the way, the market is up.

00:31:31.000 Inflation is down.

00:31:32.000 Blue collar wages are up.

00:31:33.000 And we are barely just touching the surface of this economic boom.

00:31:36.000 There is so much pent-up psychological optimism in this country that's just going to go up.

00:31:40.000 So much of the economy is mindset.

00:31:42.000 And we like to think the economy is just dollars and cents, but as someone who does investing and someone that has been behind major business decisions, we have 1,000 employees, $100 million we raise a year, I could tell you a lot of business is psychology.

00:31:58.000 Private student loan debt in America totals over $300 billion.

00:32:02.000 About $45 billion of that is labeled as distressed.

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00:32:38.000 That is why.com.

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00:32:44.000 Bad credit is accepted.

00:32:45.000 And do you have a co-borrower?

00:32:46.000 Well, why ReFi can get them released from the loan.

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00:32:52.000 What a phenomenal interview with Scott Besson.

00:32:55.000 So much of the economy is psychological.

00:32:59.000 A steady hand is so key.

00:33:02.000 So right now, you might not think it impacts you.

00:33:06.000 Right now, there are 10,000 conference rooms filled with bean counters, accountants, which is fine, lawyers, which are, they're the no people.

00:33:15.000 They tell you no all the time.

00:33:17.000 And then there is the CEO and maybe kind of a VP.

00:33:22.000 And they have to game out their financial decisions and their investments for the next two or three years.

00:33:27.000 So let's just take a company like Chili's, Baby Back Ribs, which Chili's is actually doing very well right now.

00:33:33.000 They're like a rocket ship.

00:33:34.000 Chili's is now sitting in their conference room and they're trying to figure out, are we going to build new restaurants?

00:33:39.000 Are we going to hire more people?

00:33:41.000 Are we going to expand new locations?

00:33:43.000 Are we going to diversify our menu?

00:33:45.000 Are we going to upgrade?

00:33:46.000 Are we going to be cautious?

00:33:48.000 Take other, you could take a million different examples of this, literally tens of thousands of examples.

00:33:54.000 Hilton Hotels.

00:33:56.000 Hilton Hotels is sitting right now in their conference room and they say, what is the vibe?

00:34:00.000 And they're starting to realize that investment money is pouring into this country, the tax bill.

00:34:05.000 So then they get a signal of psychology.

00:34:08.000 It's not just numbers.

00:34:10.000 So much of business is trying to peek around the corner and see what is coming next.

00:34:16.000 And President Donald Trump is doing something that Biden never did and Obama never did.

00:34:20.000 He's just relentlessly bragging and cheerleading on the country.

00:34:23.000 I know this might sound silly, but just having a cheerleader for America and the American economy does so much.

00:34:30.000 President Trump saying we're the hottest country.

00:34:32.000 Invest, spend.

00:34:34.000 All of a sudden, people psychologically start to act that way.

00:34:37.000 Gas prices are going down.

00:34:38.000 So take the Chili's example.

00:34:40.000 Chili says, wow, we get 100% depreciation. 0.73

00:34:43.000 Let's go redo a lot of our restaurants.

00:34:46.000 Or Chipotle or Starbucks or whatever brand Olive Garden.

00:34:50.000 It doesn't matter.

00:34:52.000 So 100% depreciation will unleash capital expenditures.

00:34:56.000 You might say, oh, how does that help me?

00:34:57.000 That's a tax cut for the rich.

00:34:58.000 You see, that's why Hakeem the Dream dollar store Obama doesn't understand any of this.

00:35:02.000 So let's say Chili's baby back ribs says we are now going to take advantage of the 100% depreciation tax cut, 100%, and we're now going to redo 100 restaurants.

00:35:14.000 Well, who does that work then?

00:35:16.000 Well, the welders, the carpenters, the electricians.

00:35:19.000 All of a sudden, you guys are going to have more work than you can handle, and you already have a bunch of work.

00:35:24.000 How about the 100% depreciation when it comes to heavy machinery?

00:35:28.000 John Deere, the auto manufacturing, for buying American cars.

00:35:33.000 We're going to see huge demand and capital incentives on the tax code to then invest.

00:35:41.000 Right now, the conference rooms are filled with decision makers.

00:35:44.000 And I could tell you, because I talk to a lot of them, I have a Zoom call today.

00:35:47.000 Literally, as soon as the call is done, the call is done.

00:35:52.000 As soon as the show is done, I have literally two Zoom calls with multiple billionaires.

00:35:57.000 I could tell you, and I ask them, I love asking them questions.

00:35:59.000 And by the way, tonight I have another dinner.

00:36:00.000 Literally today, I'm talking to decision makers, and they're like, man, the vibes are back.

00:36:05.000 There's a lot of investment chatter.

00:36:06.000 Things are feeling better.

00:36:07.000 We're opening more restaurants.

00:36:09.000 We're investing in more hotels.

00:36:11.000 We're buying more land.

00:36:12.000 We're revamping.

00:36:13.000 We're redoing.

00:36:15.000 This is going to push job growth and labor growth for the welders, the framers, the foundation layers, electricians, and the roofers.

00:36:21.000 And also the business managers and the managers.

00:36:23.000 It's actually a bottom-up, top-down victory.

00:36:27.000 It's a full-spectrum economic reset.

00:36:30.000 And then here's where it gets fun.

00:36:32.000 The rest of the world sees it, because remember, we're only 5% of the world's population, and they want to invest here, too.

00:36:39.000 So you have the ruling class of Saudi Arabia, of the Emirates.

00:36:42.000 Well, not of Iran, they can go to hell. 1.00

00:36:44.000 The ruling class of Qatar, the ruling class of Vietnam. 0.94

00:36:49.000 All of a sudden, they want to invest in this country.

00:36:53.000 And this pushes back against the Mamdanis, the Luigis, the AOCs. 0.60

00:36:57.000 And remember that?

00:36:58.000 The trifecta.

00:36:59.000 I want you to commit that to memory.

00:37:01.000 It's very important.

00:37:02.000 The Mamdani, Luigi, AOC.

00:37:03.000 That is the resentment, bitter, dangerous version of the Democrat Party.

00:37:10.000 When the workers get a shot in the arm, when the economy works for the workers, all of a sudden things are going to start to get better.

00:37:16.000 But I can tell you right now that the psychological capital expenditures are going to increase because the vibes are back.

00:37:25.000 Right now in those conference rooms, people are talking about expansion because if you don't grow, you die.

00:37:30.000 And if you miss a growth curve, understand that if you are running like a Chili's or a Chipotle or a Starbucks and you play it conservatively and you don't grow when your competitors grow, that could be the difference between succeeding or bankruptcy.

00:37:42.000 And no one wants to be left out.

00:37:44.000 So what President Trump has done is he has created the biggest, most compelling financial FOMO in American history.

00:37:51.000 And every single conference room is now filled with decision makers that want to get in.

00:37:56.000 And you're going to see an economic boom that is significant, legitimate, and bottom-up.

00:38:01.000 Thanks so much for listening, everybody.

00:38:02.000 Email us as always, freedom at charliekirk.com.

00:38:05.000 Thank you so much for listening and God bless.

The Charlie Kirk Show - July 03, 2025

The Midnight Rally of the Big Beautiful Bill

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