The Glenn Beck Program - August 25, 2025


Best of the Program ｜ 8⧸25⧸25


Episode Stats

Length

41 minutes

Words per Minute

163.06033

Word Count

6,732

Sentence Count

596

Misogynist Sentences

2

Hate Speech Sentences

3


Summary

Trump is cleaning up D.C. and it is working. Now, should he apply it to Chicago, New York City, or the rest of the country? Can he also fix gerrymandering? What s the best way to fix this problem? Because we re in the thick of it now.


Transcript

00:00:00.000 On today's podcast, Trump is cleaning up D.C. and it is working.
00:00:03.900 Now, should he apply it to Chicago, New York City, L.A., or the rest of the country?
00:00:10.620 Can he? Also, gerrymandering. What's the best way to fix this problem?
00:00:15.420 Because we're in the thick of it now. And the CHIPS Act.
00:00:18.540 Is this the precedent we want to give the government?
00:00:21.720 Getting in and actually owning 10% of companies.
00:00:25.760 Anyways, is this not a public-private partnership deal just under a different name?
00:00:31.420 We talk about all those things on today's podcast.
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00:00:47.440 Or, worse yet, it's in the middle of the night.
00:00:49.700 You know, it starts at 9 o'clock at night and it's on a weekend.
00:00:52.100 And you can't get a hold of anybody.
00:00:53.880 Obviously, you know what has to be done.
00:00:56.760 Maybe you can call the doctor, but you can't get to the CVS until, you know, the next morning.
00:01:02.120 And maybe they do have the antibiotic.
00:01:03.500 But now, you know, you've had this nightmare night.
00:01:06.920 And you're driving all around trying to find that antibiotic.
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00:01:34.800 Hello, America.
00:01:39.580 You know we've been fighting every single day.
00:01:41.540 We push back against the lies, the censorship, the nonsense of the mainstream media that they're trying to feed you.
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00:02:22.660 Now, let's get to work.
00:02:28.580 You're listening to The Best of the Glenn Beck Program.
00:02:36.080 Welcome to the Glenn Beck Program.
00:02:39.560 There's got to be a way to do, you know, a constitutional amendment where we get rid of gerrymandering.
00:02:46.040 You know, I don't think the people in Washington will do it.
00:02:48.080 And the party certainly won't do it.
00:02:49.200 It has to be led by the people.
00:02:51.100 But just cut everything in squares.
00:02:53.740 Cut everything in squares.
00:02:55.800 Or even if you just did four straight lines.
00:02:58.580 Of any shape.
00:02:59.600 Four straight lines.
00:03:00.540 Go for it.
00:03:01.060 Four straight lines.
00:03:01.660 You want to try to gerrymander that?
00:03:02.740 You can.
00:03:03.400 You can do little parallelograms that will have a funky shape.
00:03:08.240 And you can slice through and do it a little bit.
00:03:09.940 You know, I don't think so.
00:03:11.620 I don't think so.
00:03:12.780 I think it should be squares.
00:03:14.720 I think it should be based on the numbers.
00:03:17.760 I don't know what the number needs to be in each tent.
00:03:20.200 But you have a square.
00:03:22.480 And in that square, let's just say for, you know, purposes, it would not be this number.
00:03:27.780 But let's just say there's 100 people, okay, in that square.
00:03:31.340 And when that square hits 101, you cut it in half.
00:03:37.340 And now there's two squares.
00:03:39.820 And when either one of those squares inside that square hit 101, you cut it in half again.
00:03:47.700 So there's always less than 100 in each square.
00:03:51.340 But you just keep making new districts in those squares.
00:03:56.320 Don't they have to be, though, the same size?
00:03:58.780 So you couldn't have a bunch of 100-seat districts and then a bunch of 50s?
00:04:06.080 Well, it would grow into 50.
00:04:10.160 Or it would grow into 100.
00:04:12.620 I mean, I don't know.
00:04:14.320 Maybe when it hits 200, you cut it.
00:04:16.380 So it's 100.
00:04:18.440 But again, then you're having 150.
00:04:20.540 I don't know.
00:04:22.780 But I just know I want the people closest around me to be in my voting district.
00:04:30.120 Because we're talking about the same things.
00:04:32.560 We're living under the same conditions.
00:04:35.240 And most likely, we know each other.
00:04:37.340 And so we'll pick somebody who's from our group.
00:04:39.980 I don't want somebody that is from miles and miles and miles and miles away because there's a snake that runs across the state.
00:04:51.640 What do you know about my neighborhood?
00:04:54.040 What do you know about my area?
00:04:55.200 And if you're forced to be in that box, however that box is, however big that box is, you might be miles away in that box.
00:05:03.600 But you at least have a better idea because you haven't been selected by one party or the other just to say the party things and to get the party in.
00:05:16.740 You know what I mean?
00:05:17.220 Sure.
00:05:19.220 And I mean, I think those are the two directions, right?
00:05:25.200 Like in theory, we could go to squares and straight lines and fairly drawn districts and people that live around you, which is quite clearly what the founders wanted, right?
00:05:35.780 That type of thing.
00:05:36.920 Or you could go the other direction, which is basically all out war.
00:05:41.740 And I think, you know, oddly, you necessarily come back and you say, OK, well, we don't want all out war.
00:05:48.840 That's not the right way to go.
00:05:49.820 In this case, it probably is.
00:05:51.560 It's probably the only pragmatic way to go, because if you stay with what we have now, which is Democrats heavily redistricting their states to their benefit, not to mention getting incredible benefits out of the most recent census that they should not have had, which is a whole nother problem that we really do need to address.
00:06:09.940 But you have those two things going on.
00:06:13.340 Well, I mean, Republicans are actually pretty well positioned in an all out war to do some positive damage on, you know, for the balance.
00:06:25.900 I mean, I think that because they're pretty much maxed out in those other states.
00:06:29.320 They're maxed out.
00:06:30.160 Like, as you point out, could you figure out a way to get rid of the one in Maryland?
00:06:33.720 Probably.
00:06:35.060 They'll find improvements, but every red state will find them as well.
00:06:39.100 I think The New York Times had a story last week basically warning Democrats, you know, of course, they weren't looking at it from a news perspective.
00:06:48.460 They were looking at it from a, hey, watch out, Democrats.
00:06:51.020 If you go all out here, Republicans are likely to add about seven seats.
00:06:57.080 So they don't they don't want that.
00:07:00.360 I know, of course, I would prefer it.
00:07:02.200 And you go into an election here and I think this is a this is a little bit off the beaten path of this particular story, but it's an interesting study in the way Trump version one and Trump version two are acting.
00:07:16.220 Trump version one.
00:07:18.580 We talked about this at the 2020 election.
00:07:20.260 There are lots of things, lots of signs, lots of rule changes, lots of important things that happened before the 2020 election occurred that the Trump administration did not act on.
00:07:31.540 I mean, Pennsylvania is a good example of it.
00:07:33.180 They basically changed the rules in a way that was not constitutional.
00:07:36.340 And Trump didn't sue until after he lost.
00:07:40.860 He wasn't out in front of those changes.
00:07:43.560 He wasn't saying, hey, I see what you're doing and we're going to stop it.
00:07:48.340 Trump 2.0, realizing that most sitting presidents lose the midterm elections in the House, usually they lose control, is out in front of this in advance and saying, number one, you guys kind of screwed us in this last sentence.
00:08:03.960 But number two, we can do something about this now.
00:08:08.220 Where can we go?
00:08:09.080 We can go to Texas.
00:08:09.980 We can get five seats there.
00:08:11.060 We can go to Indiana.
00:08:11.760 We can get a couple seats there.
00:08:12.940 Let's do our best to improve our chances going forward.
00:08:15.760 Now, I know a lot of people don't like those tactics, but when you're talking about strategy and pure politics here, it's not an afterthought.
00:08:24.660 It's not after we lose, what do we do?
00:08:26.940 It's, hey, let's prevent the loss in the first place.
00:08:29.740 And that is a massive change.
00:08:30.180 This is not changing the system.
00:08:31.440 This is just using the system the way it has been for almost 200 years.
00:08:37.980 You just use the system.
00:08:39.560 We've never, I mean, we've used it in some places, but not like the Democrats have used it.
00:08:44.460 No.
00:08:44.920 And so can we get better at it?
00:08:46.760 Yeah.
00:08:47.080 But you're already playing that game.
00:08:49.380 You're already playing that game.
00:08:50.880 Yeah.
00:08:51.240 So you're not compromising morally.
00:08:55.140 You're just playing the game that you're already playing better.
00:08:58.280 Yeah.
00:08:58.800 I was thinking about it in that, in relation to the way our legal system works, right?
00:09:03.820 Like you watch a defense attorney go up and he's defending this murderer.
00:09:10.240 And you know, he's a murderer.
00:09:12.420 Everyone knows he's a murderer.
00:09:13.520 He's on film murdering.
00:09:15.200 There's a lot of, he's writing online about all the murders he wants to commit.
00:09:19.300 There's a lot of murder going on in this guy's life and everyone knows he's a murderer.
00:09:23.480 And yet there, we, our system still says, give this guy an attorney and give him the
00:09:30.720 best possible defense.
00:09:32.280 Even though, you know, probably the attorney himself knows this guy is a murdering murderer.
00:09:38.800 And we can kind of go, you know, we can go to this, the system we have now is like,
00:09:44.280 well, why don't we just let the, you know, the defense attorneys be honest about what
00:09:48.280 they know, right?
00:09:49.180 And like, let's have them kind of come out and admit that, yeah, their guy probably did
00:09:53.480 murder, but you know, let's, let's, uh, let's be nice to him or whatever.
00:09:57.800 That's kind of the way that, you know, the system kind of works now where everyone acts
00:10:02.520 as if they're not being a partisan when they're redistricting, you know, maybe the best system
00:10:09.360 is everyone goes as hard as they can on either side.
00:10:11.700 And we see what happens at the end, which is kind of what our legal system does.
00:10:15.820 It is, it is.
00:10:18.600 I'm not sure that that would be the best thing, uh, for us to do because we're a little, a
00:10:25.340 little shaky right now.
00:10:26.280 You know, it's not the best thing, Glenn, but I think it might be the second best thing.
00:10:30.340 It's, it might be better than what we have.
00:10:33.300 That I think is the issue.
00:10:34.840 Yeah, it might be.
00:10:35.120 Can it be an improvement?
00:10:36.240 I don't love it.
00:10:37.320 You know, it doesn't make me feel like I don't want to necessarily walk out and, you
00:10:41.080 know, sing the Sour Spangled Banner and expect fireworks to go off because of this process.
00:10:46.040 It's an ugly political process, but at the end of the day, we can't sit here and just
00:10:53.080 get rolled over.
00:10:53.940 It's within the law.
00:10:55.480 The Supreme Court has ruled on this.
00:10:57.180 You can use politics to redistrict.
00:10:59.780 It's within, you know, the rules of the game.
00:11:02.380 And sometimes you just have to push those rules to the limit to get fairness, which is
00:11:07.700 a weird thing to say, but I think it is true in this case.
00:11:11.000 All right.
00:11:11.500 Let me go to Carl in North Carolina.
00:11:13.040 Hi, Carl.
00:11:15.340 Hey, Glenn.
00:11:16.880 As much as I like your proposal for redistricting and, well, in fact, I'd like nine-tenths of
00:11:23.220 what you say most of the time.
00:11:24.400 But here's one that thousands of people are getting pretty enthusiastic about, and that
00:11:29.060 is that we need 27 more state legislatures to finish ratifying what was originally supposed
00:11:36.920 to be our First Amendment, and that's one representative for every 50,000 citizens.
00:11:42.740 And George Washington, having been a president, during that whole four-month constitutional convention,
00:11:49.100 he was reluctant to speak up about anything, but on the next to last day, he stood to speak
00:11:54.140 passionately, and he said he couldn't restrain himself anymore, and that was one rep per
00:11:59.480 50,000, and that's going to solve a lot of problems.
00:12:06.660 We'd have a lot of representatives.
00:12:09.540 Yes, over 1,600, and they'll live in our small districts rather than up in the District
00:12:14.440 of Corruption.
00:12:14.940 I like that.
00:12:19.800 I like that.
00:12:20.540 Instead of building something, that breaks up all of the groups that are up trying to
00:12:30.040 convince everybody with money and dinners and everything else that their way is the
00:12:34.440 right way to vote.
00:12:36.540 Yeah.
00:12:37.580 Special interests.
00:12:38.520 They won't be as tempted to be bribed.
00:12:40.760 But there's just a half a dozen tremendous benefits that will result from that.
00:12:47.320 There's a pretty big movement in the nerd circles on this one.
00:12:51.740 I like that one.
00:12:51.800 You know, and it seems like, Carl, you might be part of that circle.
00:12:55.240 But it is, I think, an interesting thing.
00:12:57.540 All right, Carl.
00:12:58.100 I think I am, too.
00:12:59.060 Yeah.
00:12:59.700 It's like, we look at it, and we're like, oh, there's 435 now.
00:13:03.660 1,600 sounds like a lot.
00:13:04.860 But does 1,600 representatives sound like a lot for 330 million people?
00:13:09.320 Doesn't really to me.
00:13:10.700 I mean, and, you know.
00:13:11.600 And as long as you keep them at home, I really like that.
00:13:14.820 I really like that.
00:13:17.200 Because everything can be done from home.
00:13:19.120 It cuts down on so much.
00:13:21.820 So much.
00:13:23.100 You know, you're not in the halls of Congress.
00:13:24.620 You're closer to the people that, you know, voted for you, and they can see when you're
00:13:28.060 going wrong quickly.
00:13:29.300 I really like that.
00:13:31.280 That's my favorite part of it.
00:13:32.840 Because I think you could take, if you did 50,000 people, you know, per district, you
00:13:36.800 can cut them in, you know, four straight lines.
00:13:40.520 And it's kind of the tent idea and your idea.
00:13:43.960 But the best part of it is it keeps them all at home.
00:13:47.740 I like that.
00:13:49.120 I like that a lot.
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00:14:01.120 Although, did I tell you about the zombie spiders I read about today?
00:14:04.520 I don't know what those are, but I don't want to know what those are.
00:14:07.300 You know, I don't know if we're all going to need bunkers and, you know, crossbows,
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00:14:12.800 I don't know.
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00:15:12.880 Now back to the podcast.
00:15:14.360 You're listening to the best of the Glenn Beck Program.
00:15:19.580 Let me start with Vice President Vance over the weekend on crime.
00:15:32.020 Let's go cut one.
00:15:33.740 Just to echo something the president said about crime in Washington, D.C.
00:15:37.400 This is the national capital of the greatest nation in the world.
00:15:41.140 And we had murder rates just a few weeks ago that rivaled some of the worst third-world cities anywhere, even in very, very poor regions of the world.
00:15:50.380 Why did we accept that?
00:15:51.860 Why did we allow it to happen?
00:15:53.140 We allowed it to happen because we had broken leadership in Washington, D.C.
00:15:56.780 and unfortunately sitting behind the resolute desk.
00:15:58.700 What we have shown in just under two weeks of taking law enforcement seriously is that the American people can have their streets back if their leadership is willing to put in the time and the resources.
00:16:09.260 Mr. President, you've shown in Washington, D.C. that we can have safe streets again.
00:16:14.300 We've just got to have the political willpower to focus on the bad guys and to give the American people back their communities.
00:16:20.780 We are focused on doing that thanks to the president's leadership.
00:16:24.460 Okay.
00:16:25.020 Now that is really important.
00:16:26.440 There is one phrase in there that is so critical, and I just want you to file it away, and that is,
00:16:30.880 we just need to take law enforcement seriously.
00:16:36.160 Law enforcement seriously.
00:16:39.480 Just file that away.
00:16:40.680 I'm going to come back to it here in just a second.
00:16:42.360 Now, here's what Donald Trump said about other cities.
00:16:46.400 Listen.
00:16:47.120 And after we do this, we'll go to another location, and we'll make it safe also.
00:16:51.960 We're going to make our country very safe.
00:16:53.560 We're going to make our cities very, very safe.
00:16:55.740 If Chicago is a mess, you have an incompetent mayor, grossly incompetent, and we'll straighten that one out probably next.
00:17:02.780 That'll be our next one after this.
00:17:05.160 And it won't even be tough.
00:17:07.280 And the people in Chicago, Mr. Vice President, are screaming for us to come.
00:17:12.840 They are.
00:17:13.160 They're wearing red hats, just like this one.
00:17:15.280 But they're wearing red hats.
00:17:16.840 African-American ladies, beautiful ladies, are saying, please, President Trump, come to Chicago.
00:17:24.400 Please.
00:17:25.580 I did great with the black vote, as you know, and they want something to happen.
00:17:30.700 So I think Chicago will be our next, and then we'll help with New York, and we're going to help with us.
00:17:36.800 And I think, really, I think a lot of, and a lot of these people that you see on television, they're including the people in this audience.
00:17:44.020 They'll say bad things about me, and then they'll say, thank God he's here.
00:17:49.560 Okay.
00:17:50.220 So now the next after D.C. is going to be Chicago.
00:17:55.720 All right.
00:17:56.360 I'm going to get to that here in just a second.
00:17:58.260 Now, let me play the Chicago mayor and what the Chicago mayor said when he heard this from Donald Trump.
00:18:07.240 Here is the incompetent Chicago mayor.
00:18:10.340 Cut 13.
00:18:11.980 And so, you know, look, we're going to remain firm.
00:18:14.520 We'll take legal action.
00:18:16.340 But the people in this city are accustomed to rising up against tyranny.
00:18:21.120 And if that's necessary, I believe that the people of Chicago will stand firm alongside of me as I work every single day to protect the people of this city.
00:18:31.780 Okay.
00:18:33.340 I just want to ask you some questions.
00:18:41.080 What is tyranny?
00:18:45.200 What is our Constitution?
00:18:47.480 What does our Constitution mean?
00:18:49.600 Are there breaking points?
00:18:52.000 Are there exceptions?
00:18:54.020 Do the ends justify the means?
00:18:56.780 Do you want safer streets?
00:18:59.040 At what cost do you want those safer streets?
00:19:04.100 Let me start with a warning here, at least on the surface.
00:19:11.040 The president does not have a clear constitutional path to federalized police in Chicago or any other city outside of Washington, D.C.
00:19:21.440 It just doesn't.
00:19:22.260 Now, remember, I said a clear path.
00:19:25.420 Go back and think about what I was saying about J.D. Vance.
00:19:29.220 What did he say?
00:19:30.500 He said they just have to take law enforcement seriously.
00:19:34.420 I'm going to come back to this.
00:19:35.440 But Washington, D.C. is not a state.
00:19:38.460 It's a district.
00:19:39.400 It's a federal territory.
00:19:41.140 It is completely different than anything else in America.
00:19:44.780 And the founders designed it that way.
00:19:46.520 They didn't want the nation's capital dependent, you know, or held hostage by some state.
00:19:52.060 So this means that the president does have direct authority to bring federal law enforcement in to D.C., even the military, to patrol the streets for 30 days.
00:20:04.140 Then it requires Congress to act and pass a bill that says he can continue to do that.
00:20:11.000 And crime has gone down dramatically.
00:20:14.560 In 10 days, there hasn't been a single murder in Washington, D.C.
00:20:18.380 That's almost a parting of the Red Seas.
00:20:20.680 So let's catalog this.
00:20:26.520 Washington, D.C. is different.
00:20:28.200 He has the right to do it.
00:20:29.660 And it's worked marvelously.
00:20:32.860 Now let's go to the Constitution for a second.
00:20:35.860 The Constitution is very clear.
00:20:39.720 Policing is a state power.
00:20:42.440 It's a 10th Amendment right.
00:20:45.260 The federal government cannot police our streets.
00:20:48.720 Now, the president has some tools.
00:20:54.000 One, the Insurrection Act of 1807.
00:20:57.640 What is that?
00:20:59.420 I think this is what the president is thinking.
00:21:01.900 That law allows the commander-in-chief to send troops into a state without the governor's permission if there's an actual insurrection.
00:21:12.880 Now, what does an insurrection mean?
00:21:14.900 That means, now hear me clearly, if laws are being openly defied on a mass scale or if constitutional rights are being stripped away.
00:21:26.280 Constitutional rights being stripped away, that takes us to Johnson, the civil rights era, takes us to Kennedy.
00:21:40.560 The Los Angeles riots in 1992.
00:21:45.940 That's how George W. Bush did it.
00:21:47.980 Civil rights.
00:21:49.400 But these were extraordinary events, right?
00:21:52.280 Gang murders.
00:21:54.160 Do they meet this constitutional threshold?
00:21:57.560 I'm not sure.
00:22:04.620 Here's why.
00:22:07.120 Aren't laws being openly defied on a mass scale in our cities, especially sanctuary cities?
00:22:17.840 Aren't our laws being openly defied on a mass scale?
00:22:23.380 Now, this is something a court is going to decide, because believe me, it's going to go to court.
00:22:29.560 But I think that's where the president is landing.
00:22:33.840 Now, my responsibility is to tell you the truth.
00:22:48.220 Not to make you feel better, not to be on somebody's side, but to tell you what I think the truth is.
00:22:55.520 You may disagree with my opinion, but my opinion means nothing if I don't tell you what I believe is the right thing, what I believe is the wrong thing, and what I believe the truth is.
00:23:08.740 Let me go a little deeper into the Constitution.
00:23:10.600 We have Posse Comitatus, that's the Act of 1878, and it was written precisely to keep the government, federal government, from sending in the army or the military to become a domestic police force.
00:23:25.000 It can't.
00:23:26.680 Why?
00:23:27.220 Because even by the late, you know, or mid-1800s, the country still remembered the Redcoats.
00:23:38.600 They also still remembered during the Civil War, and people were tired of having the government in their cities by this time.
00:23:52.240 So, Posse Comitatus came around.
00:23:54.020 Our founders fought a revolution to rid themselves of a government that used soldiers to enforce its will on its own people.
00:24:04.180 They weren't using the police.
00:24:07.780 They were using soldiers.
00:24:09.980 That's why Alexander Hamilton, who actually believed in a very strong government, still warned of the dangers of a standing army.
00:24:16.920 That's why up until World War II, we didn't have a standing army.
00:24:21.320 Jefferson, Madison, Hamilton, all of them terrified of a standing army.
00:24:27.680 Because once you give the president a precedent to send troops into one city for crime, where does it end?
00:24:37.620 Now, you could say, well, it ends with this president.
00:24:40.380 He's going to do it the right way.
00:24:41.740 Yes, but the reason we have laws is not for the exception of the good guy.
00:24:49.900 We have it for all the bad guys that will follow.
00:24:54.920 You might think that it's okay for Donald Trump because I don't think Donald Trump is a fascist.
00:25:00.300 I don't think Donald Trump will abuse us.
00:25:02.080 Yes, I think he will quash crime.
00:25:05.000 However, what's going to stop the next president that's not your guy from doing something where you're like, wait a minute, wait a minute, you can't send in the troops to do that.
00:25:16.660 Well, yeah, you can because you already made the exception.
00:25:21.120 You send somebody into your neighborhood next time or to a protest or to a school board meeting that gets out of hand.
00:25:29.900 What do you do if you don't have the Constitution to rely on?
00:25:34.720 This is what tyranny is, and this is a slope to tyranny.
00:25:40.880 It doesn't mean that Donald Trump is a tyrant.
00:25:44.720 It means these are the things, these are the tools that allow tyrants to grab hold.
00:25:54.220 So we know what works.
00:25:57.940 What works?
00:25:59.840 Enforcing the laws.
00:26:01.960 That's what works.
00:26:03.360 Now, are they going to do it?
00:26:05.700 No, Chicago's not going to do it.
00:26:09.040 You know, going after a small group of repeat offenders who drive most of the shootings, hotspot policing, putting resources in the most dangerous blocks instead of blanketing whole neighborhoods, those are the things that work.
00:26:23.640 Actually, actually going in and arresting and then sentencing to a real term in jail for real crimes.
00:26:32.340 That works.
00:26:34.720 You know, if you want to model for the president, Chicago has already done this once, and the federal government did send in feds.
00:26:50.340 Chicago has always been a tough city because it's always been crime ridden in the city halls, okay?
00:26:59.120 It's always been dirty.
00:27:01.960 So what happened?
00:27:02.960 Well, during Prohibition, there was a lot of people making an awful lot of money, and they had money to spread around for every politician.
00:27:11.980 Everybody would just keep their mouths shut.
00:27:13.880 And the guy who was doing it was Al Capone.
00:27:17.120 Well, they didn't send in the army.
00:27:20.000 They could have, I guess.
00:27:22.160 You could have said, well, they're not enforcing the law in Chicago.
00:27:26.820 Look at what's happening.
00:27:28.780 Everybody's been bribed.
00:27:30.140 The president at the time didn't send in the military.
00:27:35.560 You're streaming the best of the Glenn Beck program, and you can find full episodes wherever you download podcasts.
00:27:41.440 All right.
00:27:41.780 So, Stu, I'd love to openly embrace, you know, on the surface, there's a new deal with Intel.
00:27:49.340 And it sounds really smart.
00:27:50.960 And it sounds like, yeah, that's the way we should do business.
00:27:53.380 It sounds capitalist.
00:27:56.620 It sounds patriotic.
00:27:58.500 But then again, so did the Patriot Act.
00:28:00.780 So here's what's happening.
00:28:02.780 Donald Trump is taking $8.9 billion, money already set aside by the CHIPS Act, and instead of handing it to Intel as a grant, he bought stock in Intel.
00:28:15.260 Now, that sounds really smart, right?
00:28:18.800 Sounds like what a businessman would do.
00:28:20.460 Really smart.
00:28:21.240 I'm not going to just give them the money.
00:28:23.680 We'll invest, and that way we get some profits when they succeed.
00:28:29.260 So we now own 10% of the company, non-voting shares.
00:28:34.580 We got a discount, and we have $2 billion now worth of paper gains.
00:28:41.000 I love that, right?
00:28:42.820 It sounds really good.
00:28:44.680 Why aren't we running this place more like a business?
00:28:48.100 It's pro-capitalist, right?
00:28:49.940 No more government giveaways, taxpayers or investors, and we benefit when Intel rebounds.
00:28:57.360 Okay.
00:28:57.620 Any other things?
00:29:01.020 Well, yeah, it's really important for national security.
00:29:03.960 We're keeping chip manufacturing at home.
00:29:06.000 We stabilize the economy without running it.
00:29:09.360 We reassure the markets and attract other private investors.
00:29:13.020 On paper, it's really good.
00:29:14.840 It's clean.
00:29:15.480 It's efficient.
00:29:16.300 It's savvy.
00:29:17.560 Now, what is it that's bothering me?
00:29:24.240 Well, it's not exactly the American system.
00:29:28.400 In fact, it might be everything we're not supposed to do.
00:29:32.900 You know, we were never, the government was never supposed to use our taxpayer dollars to be a shareholder in private enterprise.
00:29:39.140 But, again, we're doing all kinds of things that we've already gone there, haven't we?
00:29:45.120 Hasn't the government picked winners and losers now forever?
00:29:50.540 Haven't they been wasting your money?
00:29:53.200 I'd rather, instead of a grant, I'd rather have it in stock.
00:29:57.840 So, if we win, we win.
00:30:01.200 You know, we all win.
00:30:03.100 But that's actually the model of state capitalism in China.
00:30:08.860 It's not the free market in the United States.
00:30:11.520 Intel is vital, absolutely vital.
00:30:14.040 Chips are the lifeblood of anything that's going to happen for national security and our economy.
00:30:19.400 But we cannot get into the habit of, we can't normalize in any way.
00:30:25.480 Washington, D.C., buying stock in struggling companies.
00:30:29.640 You know, because what's next?
00:30:30.660 Ford?
00:30:31.520 Boeing?
00:30:33.040 How about your grocery stores?
00:30:34.640 I mean, that's Mom Donnie, isn't it?
00:30:36.840 And once that door opens, government no longer just regulates the market.
00:30:40.980 They own a piece of it.
00:30:42.660 Now, what happens after we own a piece of that?
00:30:47.780 So, in 2008, I had a big sponsor.
00:30:51.400 It was a sponsor that Premier Radio Networks had worked 20 years to get.
00:30:56.060 We finally landed them.
00:30:57.560 And I had a good working relationship with them.
00:30:59.820 It was General Motors.
00:31:01.620 And then the government bailed them out in 2008.
00:31:08.180 And they promised it was temporary.
00:31:11.420 And I said, great.
00:31:13.080 Call me back once you've paid them off.
00:31:15.580 I don't like this.
00:31:16.880 The government should not be involved.
00:31:18.440 And they said, well, they're not going to be involved.
00:31:19.860 But they were because the first thing they did was they canceled the hydrogen car, something they really believed in right before the election.
00:31:27.520 I know, because I was talking to them about it all the time.
00:31:31.300 And then after the election, Barack Obama cancels all hydrogen products.
00:31:35.660 And GM is like, yeah, that stupid hydrogen thing.
00:31:38.740 We're with them.
00:31:40.560 And the precedent was set.
00:31:42.320 And I was out.
00:31:43.800 I was out.
00:31:44.620 I canceled General Motors.
00:31:47.420 Stupid, stupid, stupid.
00:31:50.140 Business-wise, stupid.
00:31:51.600 Ethically, the right thing to do.
00:31:52.880 And ever since, whenever there's a crisis, that temptation is there.
00:31:59.400 Why not just buy a slice of the company?
00:32:01.560 Why not stabilize it?
00:32:02.660 Make a little profit on it.
00:32:04.880 And that's how you slip from capitalism to corporatism.
00:32:10.060 You know, free markets backed by government winners and losers.
00:32:13.620 You do not want to go down this road.
00:32:15.420 You know, when we are both the investor and the regulator, which one wins?
00:32:23.460 Come on.
00:32:24.200 Not a hard question to answer.
00:32:26.000 Which one wins?
00:32:26.920 Not the regulator.
00:32:28.640 The investor wins.
00:32:30.200 If the investor is also the regulator, look, if we do this, we're going to make a lot of money.
00:32:34.940 You're going to make a lot of money.
00:32:36.140 You'll have more money for all these projects you want.
00:32:38.440 Okay.
00:32:38.980 All right.
00:32:39.620 Okay.
00:32:42.400 It's not the taxpayers aren't the one.
00:32:46.580 The company, the politicians, who really wins?
00:32:51.000 What happens when an administration leans on its own company?
00:32:55.780 For political purposes, you know what?
00:32:57.380 I think you're going to get rid of that hydrogen car.
00:32:59.340 We love the hydrogen car.
00:33:01.020 You know what?
00:33:02.040 I think you're going to get rid of that hydrogen car.
00:33:04.340 We hate that hydrogen car.
00:33:06.380 Boy, we hate it.
00:33:07.380 Donald Trump looks at Intel losing $8.8 billion last year, lays off 20,000 workers, chokehold of Taiwan, South Korea on semiconductors.
00:33:21.220 He wants America protected.
00:33:23.600 He wants taxpayers to share in the upside.
00:33:26.000 He doesn't want just to bear the cost.
00:33:28.420 We should get the upside.
00:33:30.040 All of those things are good, right?
00:33:32.260 It's really tempting.
00:33:35.180 But is it what we are supposed to do?
00:33:37.600 Is it the right thing?
00:33:40.100 I don't like it when Washington holds stock certificates.
00:33:45.520 Not a good thing.
00:33:48.540 It should be reforming taxes, cutting red tape, letting capital flow to strong ideas, making sure national security is secured through policy, but not ownership of these things.
00:33:59.540 Are you comfortable if the United States just took over AI or just took it over and said, we're just going to own 10%?
00:34:07.240 Oh, they need another bailout.
00:34:08.500 We're going to just own 20%.
00:34:09.780 Oh, I need another bailout.
00:34:11.300 Okay, we're going to own 40% of that.
00:34:13.260 Do you think that that company wouldn't become beholden to the United States government?
00:34:19.020 And who are they beholden to?
00:34:21.400 The Defense Department?
00:34:23.420 The deep state?
00:34:24.580 The president?
00:34:25.820 Or you?
00:34:27.180 I think you know the answer to that one.
00:34:29.540 Stu, how do you work around this one?
00:34:32.180 Because I love this idea.
00:34:33.480 I love the fact that we're running things like a business.
00:34:35.740 And if we're going to give people loans, why not take a stake?
00:34:39.360 Why not?
00:34:40.520 Well, first of all, can we step back one little bit and just acknowledge that the original sin here in the first place was the CHIPS Act?
00:34:51.080 The CHIPS Act was not a good bill in the first place.
00:34:55.060 And that's not the current president's fault.
00:34:57.340 But, you know, he has to live under that law.
00:35:01.220 And he's trying to improve it.
00:35:02.980 But, like, that was a disaster in the first place and should not have been something that we did, certainly the way that we did it.
00:35:09.680 With buying into this, I mean, look, I understand it is better to have some of this money that, by the way, we're just borrowing and printing anyway.
00:35:20.960 Right. Like these are these are taxpayer dollars that we don't really have that we're spending on something that it's good that potentially would have a return.
00:35:29.420 I mean, this was the argument under TARP as well.
00:35:31.800 Right. Where we would go and we would do all this and we would take control of some of these banks and companies and they would eventually pay us back.
00:35:39.060 And many of them did, by the way, many of them did pay us back.
00:35:42.460 Yes, they did. With interest.
00:35:43.000 With interest.
00:35:43.740 Yeah, exactly. And so why not? Why don't we do that?
00:35:46.220 We have done it from time to time.
00:35:48.420 Normally, it's been in extreme circumstances, right, when there's an emergency going on.
00:35:53.920 And I and I will acknowledge and I think you were on this as well, Glenn, like these were not things that we supported at the time, but they were things that the government did at the time in a what they saw as a time of financial crisis and reached in and took ownership of a bunch of these companies.
00:36:10.280 I would say we went further than not being for them.
00:36:14.620 I would agree with that analysis.
00:36:16.220 And the reason for that is very much against them, very much against them.
00:36:20.160 The reason for that is we don't want the government involved in, you know, jumping into companies and micromanaging companies.
00:36:27.800 Now, they'll say they have no voting rights.
00:36:29.960 They'll say all sorts of things.
00:36:31.500 But we now have a situation where the president of the United States has an interest in Intel's stock price.
00:36:38.920 And like, I don't know that that's it's bad idea.
00:36:43.040 It's a bad idea.
00:36:44.220 You know, once the government becomes your partner in business, they're always your partner.
00:36:49.160 Always.
00:36:50.340 And I understand where the president's coming from, because at some level, it really is important to acknowledge he's been put in this position to try to make the best out of a bad thing.
00:37:02.140 Now, I know, you know, the president does really care about the chips and he does care about these industries being here in the United States.
00:37:10.380 That is something that actually is legitimately important.
00:37:14.380 I'm not denying that.
00:37:16.340 But.
00:37:16.600 Right.
00:37:17.320 He also cares about America doing well financially.
00:37:21.260 Yep.
00:37:21.560 He's tired of America getting screwed.
00:37:23.080 The taxpayers getting screwed every time.
00:37:25.240 But on that point, because I get what he's saying there.
00:37:28.000 It would be great.
00:37:28.640 Like, we're up a couple billion dollars.
00:37:29.920 Let's say we double our profit.
00:37:30.940 Let's say we make 10 billion dollars off the deal.
00:37:32.760 Nothing wrong with making 10 billion dollars.
00:37:34.480 Let's acknowledge what this is, though.
00:37:35.880 We have 37 trillion dollars in debt, making 10 billion dollars does absolutely nothing to this.
00:37:41.740 Nothing.
00:37:42.220 We're going to waste that.
00:37:43.780 Like, we could just instead be.
00:37:47.200 We could have someone actually look at the next spending bill we have and just cut a few things around the corner and easily save 10 billion dollars.
00:37:54.840 The only way that this makes any impact, and this is what makes me nervous, is if you do it at scale.
00:38:01.600 If you start doing this in every single company you can think of that is having problems or is in an industry of interest to the United States of America, then you start getting to a place where the government is in bed with lots of businesses and maybe you could make a financial impact.
00:38:16.920 And if we accept this argument now, I'm afraid we accept it then, too.
00:38:20.260 But haven't we already accepted it when America embraced public-private partnerships?
00:38:27.480 I haven't accepted that.
00:38:29.040 I don't.
00:38:29.620 I'm dead set against public.
00:38:32.000 But isn't this a public-private partnership that the left is already?
00:38:35.480 I mean, this is what they were pushing.
00:38:37.740 Well, and this is the concern, right?
00:38:39.280 Who is cheering this on?
00:38:41.540 Bernie Sanders.
00:38:42.380 Bernie Sanders put that he actually had this idea as an amendment in the CHIPS Act.
00:38:50.740 This was his proposal.
00:38:52.540 He's cheering it on right now.
00:38:55.140 I – that doesn't mean that every, you know, everything a Democrat brings up is the wrong idea.
00:39:00.060 Maybe this is a good one.
00:39:01.620 I mean, you could make that argument.
00:39:02.820 Is he a Democrat or is he a socialist?
00:39:04.980 He's a socialist.
00:39:05.560 Yeah, so everything a socialist brings up is probably a good bet.
00:39:10.420 Yeah, again, this is – it's just a – it's a road we should really, really be careful going down.
00:39:17.880 I would argue we shouldn't go down it because it does lead to bad things.
00:39:21.220 And it leads to bad things, by the way, when this president's long gone, right?
00:39:25.460 It's not just – it's not just him.
00:39:27.120 I mean, you know, what – I know we say this all the time.
00:39:30.880 What are Democrats going to do with this newfound ability to invest in companies?
00:39:37.320 And by the way, we should note, Intel doesn't need to accept this, right?
00:39:42.260 This is – the CHIPS Act doesn't require them to sell part of the company.
00:39:47.100 What's happening here is we're pressuring them into this.
00:39:49.920 And, you know, I understand the reasoning for that.
00:39:54.620 You brought up a really – you know, really good arguments on this front.
00:39:57.600 We're already suckered into giving these companies money because of the CHIPS Act.
00:40:02.940 Why not make the situation better?
00:40:04.760 And Intel is saying, well, they can make our lives miserable in 25 different ways.
00:40:10.040 Let's partner with them.
00:40:11.420 I get it on both sides.
00:40:13.140 It doesn't mean it should be a foundational part of our economy going forward.
00:40:18.240 And, you know, if this is a one-time thing, it's probably not going to be that big of a deal.
00:40:21.600 If this is a precedent that goes on, it can be.
00:40:24.620 It will be.
00:40:25.600 Once you start this, once you start this – and, you know, we have – how long?
00:40:29.300 My whole life I've said I wish we had a businessman as the president.
00:40:33.100 I wish we had somebody that would look at the country and look at everything and go,
00:40:36.940 how can we make money?
00:40:38.400 How can we, you know, save money?
00:40:40.680 Let's run this a tighter ship.
00:40:42.480 Well, he's doing that, although we're spending more money.
00:40:46.480 And here he's like, well, let's just offset.
00:40:49.160 Let's, you know, let's get – yeah.
00:40:51.740 And he might pick the winner.
00:40:54.480 I don't know if he will or not, but he might pick the – but tell me the last president that we had
00:41:00.220 that ever said anything about industry that you're like, oh, you know what?
00:41:03.340 That was a really good stock tip.
00:41:05.740 No.
00:41:06.500 I mean, he'd be the guy.
00:41:07.760 He'd be the one that you would trust on such things.
00:41:09.600 He would be the one.
00:41:10.840 Yeah.
00:41:11.400 I think in my lifetime, for sure, maybe the lifetime of the country.
00:41:15.440 Na, na, na, na.