Best of the Program | Guests: Carol Roth & Rep. Thomas Massie | 1⧸12⧸24
Episode Stats
Words per Minute
144.75926
Summary
Boeing is one of the most important companies in the world. It's America's most strategically important country, a company that produces the world's largest commercial jetliner fleet. And yet, it's been in free fall since the early 2000s.
Transcript
00:00:00.000
Stu, I want to thank you. It was the spa music that I think you brought to the table and calming, soothing, no, no, we're not all screwed kind of sound of your voice that stopped me from having an aneurysm.
00:00:16.840
I didn't think there was above a 30% chance you made it through that show, but you somehow did it. That's Radio Hall of Fame worthy right there.
00:00:23.580
Oh my gosh, I was losing my mind and you will too when we share some of the things we shared on today's podcast, but it's a great, great show. You don't want to miss a second of it. If you do have a heart condition, you might want to consider maybe passing this particular podcast.
00:00:44.920
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00:01:59.440
You're listening to The Best of the Glenn Beck Program.
00:02:04.080
So, I got something from Porter Stansbury, and I want you to listen to this.
00:02:11.100
A year ago, we published a dire warning about a mega-cap American stock.
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This was the only mega-cap stock we told investors to avoid.
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It's no ordinary business. It's America's most strategically important country, a company.
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Listen to that. America's most strategically important company.
00:02:44.140
Well, for the last 20 years, there hasn't been a company in America
00:02:47.620
that has embraced more bad ideas from financial engineering to ESG than Boeing.
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In 1997, Boeing merged with fellow aerospace manufacturer McDonnell Douglas in a $13 billion stock swap.
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McDonnell was known for financial engineering with a focus on cost-cutting and the company's share price.
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Although the Boeing name survived, it was McDonnell Douglas' attitude that prevailed.
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McDonnell's CEO Harry Stonecipher, who took over the day-to-day operations at Boeing,
00:03:26.460
immediately took a carving knife to Boeing's highly paid engineering staff.
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In May 2001, Boeing management made a physical break with its engineers' manufacturing headquarters,
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stayed in Seattle while corporate moved to downtown Chicago, 1,700 miles away.
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That split symbolized the growing distance between the builders and the bosses.
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To say the company's engineers were disenfranchised doesn't describe it.
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CEO Stonecipher even bragged about what he had destroyed.
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When people say I changed the culture of Boeing, that was the intent.
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It's run like a business rather than a great engineering firm.
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I don't know if you know this, but making airplanes fly really requires a great engineering firm, but maybe that's just me.
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Today, both Boeing's CFO, Brian West, and CEO, David Calhoun, are formerly senior GE finance people.
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And they've done to Boeing what they did to GE, destroy the balance sheet.
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From 2010 to 2019, Boeing spent $44 billion on buying back its own shares, while adding $50 billion in debt.
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This reduced the share count by 23% and sent the stock price up $200.
00:05:04.280
As a result, free cash flow plunged to negative $4.3 billion annually by 2019.
00:05:12.420
Today's bankruptcy of Boeing grows more certain.
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Cumulative net income over the last three years is negative $20 billion.
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And the company has $52 billion now in total debt.
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Interest expense is currently $2.5 billion a year.
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But that's going to move much higher as Boeing's debt will be downgraded to junk.
00:05:36.780
Investors have nothing to worry about, with one of America's greatest and most important companies spiraling towards bankruptcy.
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Stephanie Pope is the chief operating officer of Boeing.
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She holds a bachelor's degree in accounting from Southwest Missouri State University and an MBA from another intellectual powerhouse, Lindenwood University.
00:06:06.160
Now, why would someone with this kind of background be placed in charge of operations in the world's leading aerospace engineering firm?
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Well, maybe it's because she is the executive sponsor of Boeing's Women Inspiring Leadership, a group dedicated to increasing gender diversity awareness.
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These outcomes are the results of years and years of bad ideas, starting with the intentional destruction of Boeing's engineering culture,
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followed by the GE-style financial engineering, and now the company's full embrace of modern Marxism ESG.
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Like we predicted a year ago, Boeing is going to collapse.
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When the debt gets downgraded, the stock will drop by more than 50% to below $100, and that's just what we warned about GE and GM.
00:07:04.120
Boeing is a wonderful metaphor for our entire society.
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When, now listen carefully, boys and girls, when we promote people because of their political views or their race or their sex,
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even if that sex is completely made up, instead of what they know and who they are, the content of their character,
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we will continue to have planes fall out of the sky.
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Whatever company is involved in all of this stuff, their, quote, planes, whatever it is they build,
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Until our government gets away from this craziness,
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First of all, do you think this is a good idea?
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The NIH has spent millions on equity, LGBT issues, instead of researching cures.
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How do you think that's going to work out for us?
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And yet, in all of these, without all of these universities, all of these companies,
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University of Michigan is paying probably a total of about $80 million a year
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for their 142 employees to promote DEI and all the programs, okay?
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$85 million was spent on DEI at that one university.
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Black students' experience on campus hasn't improved.
00:09:07.920
Hispanic and Asian enrollments increased, but Black enrollment dropped slightly from 4.3 to 3.9.
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With percentage of students who were satisfied with the overall campus climate,
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Your education plane is about to fall out of the sky.
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And in fact, let's have a government that thinks they know better, thinks that they are God.
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And so they're going to reduce the oil that we can pump,
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starve us for anything that we know historically works,
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that we still have to have the energy to propel.
00:10:00.900
We still have to make electricity so the car can plug in.
00:10:15.080
I think it's Hertz is getting rid of all of their EVs.
00:10:21.480
And that's happening over and over and over again.
00:10:32.580
France is dropping its renewable targets to fully embrace nuclear energy.
00:10:43.840
Sovereignty, how dare France separate itself from the collective?
00:10:51.720
And meanwhile, on MSNBC, Chris Matthews on Wednesday claimed that, and I'm quoting,
00:10:59.780
rural Americans are essentially members of a cult who will vote in, quote,
00:11:05.780
their craziness if Democrats don't show up at the polls, our craziness, our craziness.
00:11:17.800
What is our craziness, Chris, that we want to vote in?
00:11:21.700
For instance, how about the president actually has to go to Congress to ask if, hey, can we
00:11:34.800
That currently is Democratic craziness as we are now backing into a war in the Middle
00:11:46.680
Is it our love for history and heritage that's so crazy?
00:11:50.420
The mission statement in our Declaration of Independence that all men are created equal?
00:11:56.960
That we don't believe that to be anti-racist you must indeed be racist?
00:12:03.420
To do the opposite of what Martin Luther King preached?
00:12:12.260
Are we crazy for demanding that our border be shut down until we can get control?
00:12:21.360
Is it crazy to say 10 million new people have come across our border?
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Our kids are being kicked out of their own schools so we can put illegals in a nice home because
00:12:52.220
We don't even know who's in our country, Chris.
00:12:56.700
The intelligence offices in the United States have just come out with a warning.
00:13:03.360
They said that Hezbollah, Hamas, they have probably some operatives here in the United States.
00:13:17.900
They're lining up at the border and we let them through and boy, it's really crazy to
00:13:23.580
ask why the Biden administration said, oh, if they're from China, pretty much just let
00:13:31.780
Did we learn nothing from 9-11 or did I just dream that up in a crazy fever dream, Chris?
00:13:39.480
Is it crazy to insist the Constitution be followed and the Bill of Rights that maybe we don't
00:13:46.820
have secret courts, maybe we're not spied on, that our CIA and other intelligence agencies
00:13:53.400
don't conduct cognitive operations, quote unquote, on our fellow citizens?
00:14:01.940
Is it crazy to say we need to be energy independent at a time when oil tankers are being hijacked
00:14:09.840
When whole fleets of electric cars are being sold and the old combustion engine is back
00:14:18.780
Is it too much to ask in a country like ours to allow the citizens of the country, a republic,
00:14:26.920
to make their own decisions on what they buy, what they eat, what medicine they inject in
00:14:33.180
Is it really all that crazy to demand that the government rein in spending when we're at
00:14:40.120
$34 trillion in debt and our deficit, just our deficit in December alone, was 50% higher
00:14:52.060
Is it really crazy to question authority when that authority has lied to you about serious
00:15:03.880
Corruption at the highest levels, laptop Russia, Clinton servers, January 6th, Ray Epps, ESG,
00:15:12.180
collusion with big tech to silence and censor those that do question?
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Because to me, it doesn't sound all that crazy.
00:15:29.580
It's so crazy to ask for some answers on what happened in Afghanistan.
00:15:34.280
Losing at least a billion dollars now, just reported, of our hard-earned money in Ukraine.
00:15:39.940
And dare I say, the lab leak, our role in that, as well as all the lies from the government
00:15:50.400
It isn't crazy for those of us who actually believe in the Constitution.
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For those of us who actually believe in the Declaration of Independence and the Bill of Rights
00:16:02.080
and the rule of law, not to be dismissed, demonized, called traitors, insurrectionists, or crazy.
00:16:11.100
And, Chris, until you and your elitist leftist friends who despise half the country,
00:16:17.300
the half that actually works hard, plays by the rule, pays their taxes, fight and dies in our country's war,
00:16:24.460
stop acting like all of your new ideas like a hundred-plus genders,
00:16:30.340
teaching of history that destroys the actual truth,
00:16:33.460
until you abandon your elitist attitude that we're all rubes and only you know better,
00:16:40.620
well, I guess we'll continue to be crazy in your eyes.
00:16:44.140
But in ours, it is your, indeed, clinical mental illness
00:16:51.720
that is the real danger to freedom, democracy, or, dare I say it, the republic.
00:17:04.240
This is the best of the Glenn Beck Program, and we really want to thank you for listening.
00:17:07.860
I've said to you for a while, 2024 is going to be a year that makes or breaks us.
00:17:16.880
2024, maybe it goes on to 2025, but it's going to happen.
00:17:25.480
We have a couple of people on the ground in Davos that will be giving us updates of what's going on.
00:17:29.940
But their theme this year is restoring trust, because it seems like nobody trusts us
00:17:36.320
because of these crazy people who tell all this misinformation.
00:17:40.920
So their number one threat they see in 2024 is mis- and disinformation.
00:17:50.880
So I'm going to give you some stuff that was heart-stopping for somebody who believes in free speech.
00:17:58.660
In fact, it was so shocking to me, I sent it to my whole family and said,
00:18:08.820
And we were talking about these natural or national asset?
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And these companies that will control the land.
00:18:22.760
And I can't explain to you or express to you enough concern over this to wake people up.
00:18:37.880
But if you are awake, you must get online and write the SEC.
00:18:45.220
They have a time where you can publicly comment.
00:18:49.020
It has to be overwhelmingly, no, don't do this.
00:18:52.280
And you have to get Congress and your senators involved in this right away.
00:19:04.660
So what I've done is I have retweeted to the top of my Twitter feed my comments that I sent to the SEC.
00:19:19.880
Because you have to have the file number in the subject line or they just won't read it.
00:19:41.360
Glenn, let me just read to you two things that show you how insane and evil this is.
00:19:46.360
From the chairman of this IEG that created the company.
00:19:51.100
And by the way, as I said before, creating a company structure is absolutely difficult, unusual, and a red flag in and of itself.
00:20:00.560
But if that wasn't a big enough red flag, they have created their own system of accounting, which is not just a red flag.
00:20:08.660
The CEO said, quote, we created a new accounting system, which we call statements of ecological performance, which account for the flow of ecosystem services in financial terms.
00:20:23.960
That means absolutely nothing other than they are trying to scam the system, which, by the way, the climate cultists and social justice warriors, this is entirely what they're setting out to do.
00:20:34.720
They're setting out to end around the legal system.
00:20:37.420
The CEO said, reportedly said, quote, we are looking for a private sector approach that wasn't dependent on policy.
00:20:47.600
It wasn't dependent on regulation or philanthropy to price in these assets and give investors the opportunity to invest directly in nature, whether that's for climate or biodiversity.
00:21:11.080
Well, if you're Apple or Google and you're running all kinds of server farms and that has a big CO2 footprint, what do you do?
00:21:22.060
So you buy Yellowstone National Park and you close it down for manage it, just return it to nature.
00:21:35.860
They'll keep on polluting, but they'll shut everything else that's not necessarily like cows, farms, you, your town.
00:21:48.340
They'll shut everything down so you can't pollute because they need to offset their carbon footprint.
00:21:55.800
What about Middle Eastern sovereign wealth funds, places that depend on oil getting involved in lands where there's drilling to say, oh, well, we'll just stop the U.S. from drilling.
00:22:09.260
You know, then we'll be cornering the market even more and be able to send the price of oil through the roof.
00:22:13.900
This is so incredibly dangerous, which is why we already had, I think it's 25 or 26 attorney generals from various states join with Utah and Kansas to oppose this.
00:22:29.940
There are people who have been writing and, you know, saying that they have been using their voice.
00:22:34.360
We need to make a big deal about this or it's going to be too late.
00:22:42.500
Okay, let me switch to the other thing that King Biden has decided through the Labor Department.
00:22:49.700
When Gavin Newsom put through that the gig economy was over in California, everyone, Republicans, Democrats, everyone, since it's been implemented, has said this is a disaster.
00:23:05.560
So this came out of the bad incubator for all ideas in the United States, which is California.
00:23:15.780
And unfortunately, people laughed when we first talked about it and said, oh, people in California get what they vote for.
00:23:22.400
And I said, don't say that because it's coming to America.
00:23:25.760
And what they decided to do was go after small businesses, the gig economy, and economic freedom to say, we don't want people to be able to work independently.
00:23:40.220
For people who are so concerned about choice, they do not seem to care if you have a choice of labor.
00:23:46.920
So imagine, Glenn, I come to you and say, listen, I'm busy with all these other things, but I want to, you know, write for the blaze.
00:23:53.660
Let's just enter into a contractor relationship.
00:23:56.200
You don't have to take me on as an employee, and I will write for the blaze.
00:24:05.800
And maybe you say, well, you know, the blaze is a big organization, so, you know, what does it matter?
00:24:10.560
But this impacts tens of millions of small businesses and almost 60 million gig workers.
00:24:16.880
By the way, the greater majority of them want to be independent.
00:24:23.640
They value the ability to set work on their own terms.
00:24:27.840
And the government wants to come in, not, again, through legislation, but through a rule, through the executive branch, and say, I'm sorry that you want to work that way.
00:24:39.840
They want to take away your ability to set the terms of how you work.
00:24:44.120
Just so you know, that pretty much ends DoorDash.
00:24:47.180
It ends Uber because the people have to be paid by Uber, and then their insurance is paid for.
00:24:56.720
How many people have you gotten into their car in an Uber, and they'll say, I just love this.
00:25:12.480
Well, you know what's going to happen, like they did in California.
00:25:15.100
The big companies will band together and get an exception.
00:25:17.840
But who won't be able to do that are the small businesses that depend on the gig economy, the movie sets that have a caterer, the hairdresser who rents a chair at a salon, the business who hires somebody to do some editorial content a couple times a year.
00:25:34.840
Those are the businesses that are going to get hurt.
00:25:38.020
So this is, again, a total focus on centralizing the economy in the hands of big unions, big company, big labor.
00:25:47.080
And they want to kill small businesses and freedom that don't toe the line.
00:25:51.820
They don't want you to be able to do what you want to do and work the way you want to do.
00:25:58.380
And what it's going to do is kill the number of jobs and opportunities.
00:26:06.800
The way out is through growing revenues and through freedom and expanding our revenue base.
00:26:12.820
And all they do is continue to put up barriers to us being able to work and live freely.
00:26:24.680
I did a monologue at the beginning of the show about Boeing.
00:26:27.260
You want to know why Boeing, their planes are falling out of the sky.
00:26:34.620
Boeing, Boeing, one of the greatest aircraft companies of all time.
00:26:47.860
And they've looked at everything as just make money, accounting, not engineering.
00:26:55.260
They have violated all of the well-known principles of how to run an aircraft company.
00:27:09.040
We're violating all of these very well-established principles for new ideas.
00:27:23.540
It doesn't matter because I say it doesn't matter.
00:27:34.040
And when it starts to crumble, it's going to crumble quickly.
00:27:48.840
Well, this is so important strategically that maybe the United States government, we are going
00:27:57.080
There is a reason why Russia, everything they built was crap.
00:28:03.920
And we are quickly following in those footsteps.
00:28:24.240
They're not just, oh, wow, that policy didn't really work.
00:28:31.160
They're all designed to change us fundamentally, to destroy what we have.
00:28:37.760
You'll be poor, you'll own nothing, and you'll like it.
00:28:54.240
I'll tell you, he better not question my intelligence.
00:29:03.320
Thomas Massey is with us, who's just on CNN, questioning the intelligence of some of the
00:29:10.060
I don't know how you could possibly do that, Thomas Massey.
00:29:16.400
Now, I never questioned that about you or your staff.
00:29:22.240
No, she claimed, she referenced 19 different things I had voted on and claimed she had
00:29:28.280
spent a whopping two minutes studying one of them, and it made her an expert.
00:29:35.140
We want to talk to you about what's happening overseas with the Houthis.
00:29:40.560
I am really torn on this because I feel as though we are backing in to yet another war.
00:29:49.400
I also think there are people in this administration that want war.
00:29:52.460
I also know that this administration continues to send money over to Iran.
00:29:57.640
So, you know, our literal enemy in this, we're helping fund.
00:30:06.500
However, they are shooting at us, launching missiles at our Navy, and aren't we defending
00:30:19.440
Well, first of all, you should look at it as this is election season.
00:30:23.080
And when you're at war, you know, there's a greater tendency to vote for the commander
00:30:30.880
And I am worried that he's going to draw us into a war with this.
00:30:34.360
Now, I believe that he has an obligation to come to Congress, and I think he had time to
00:30:39.920
If he had time to organize an international coalition, or at least with Great Britain,
00:30:47.720
And, you know, the War Powers Act requires him to do that.
00:30:53.160
It allows him to respond defensively in the case of emergency, but that would be like
00:31:01.060
It wouldn't be something where you plan, you know, some kind of retaliation for things
00:31:09.880
Can we talk about the War Powers Act here for a second?
00:31:12.200
Because I believe the War Powers Act is correct in a world where we have missiles.
00:31:18.260
If somebody's launching a missile, the president does not have time to go to Congress and say,
00:31:22.880
hey, I want to make my case here that in 12 minutes we're all going to be vaporized.
00:31:27.480
However, like you said, it's been 90 days, 90 plus days since this happened.
00:31:34.820
They've been fighting and shooting against us, et cetera, et cetera.
00:31:39.300
The president has a responsibility to go in front of the American people and Congress
00:32:05.900
And in 2018, I teamed up with Ro Khanna and tried to get a War Powers Resolution passed
00:32:21.140
He hid the vote on our War Powers Resolution in the Farm Bill.
00:32:26.480
And then, so people voted for the Farm Bill and put our War Powers Resolution to bed.
00:32:32.540
So we tried again, and he hid it in the Manage Our Wolves Act.
00:32:36.660
If you voted for the Manage Our Wolves Act to come to the floor of the House, you voted
00:32:40.880
against the Ro Khanna Thomas Massey War Powers Resolution, according to the War Powers Act,
00:32:48.660
Our Congress is voting on management of wolves, but not whether or not we go to war.
00:32:58.140
And then, so a year later, we were able to get it to the floor.
00:33:04.400
We followed, you know, I don't even agree completely with the War Powers Act that was
00:33:09.160
passed in the 1970s, especially not the interpretation that people have of it.
00:33:13.840
But we were able to get a resolution passed to get us out of Yemen in 2019.
00:33:18.000
And then it went from the House to the Senate, and they passed it with 53 votes.
00:33:25.040
Now, it's within his authority to veto it, but that demonstrated to me how ridiculous
00:33:30.960
the War Powers Act is, because effectively, it takes two-thirds of us to override a president's
00:33:38.720
So what it means is, the War Powers Act, if you believe in it, with 33% of Congress, the
00:33:44.140
president can go to war because it takes two-thirds to stop him.
00:33:49.000
So what are you hearing up on the Hill about all of this?
00:33:57.580
I mean, I am worried that we're going to be expanding conflicts in the Middle East, that
00:34:05.420
this is, there's some people up here that are just begging for a war with Iran.
00:34:10.940
And whether it's something that grows out of Gaza, or whether it's something that grows
00:34:16.620
And I think we need to take a step back and look at this and say, is that in the best interest
00:34:22.720
of our country, to have a full-blown war with Iran?
00:34:25.680
And I'm worried that this president would like to have it, have something hot going on before
00:34:33.200
Well, the national intelligence agencies came out today and warned that Hezbollah has assets
00:34:43.160
here in America and that they're concerned that this could mean a direct strike here in
00:34:49.780
the homeland, which I don't think would play well for all of those who had an open border.
00:34:54.880
I mean, this is the big exposure we have at the open border.
00:34:58.940
Not only are we going to economically destroy our country by bringing so many illegal immigrants
00:35:06.100
into the country so quickly, it's so porous that, you know, Hezbollah can walk across the
00:35:20.420
15 of the 19 hijackers were actually from Saudi Arabia and were here legally for the most
00:35:27.680
But now we're looking at a different threat and it only takes 19 to, you know, do something
00:35:39.900
Nikki Haley, during the last debate, basically called you an anti-Semite.
00:35:52.740
And as I tweeted, I'm living rent-free in her head.
00:35:56.080
And trust me, there's lots of empty space in here.
00:36:01.020
She had her understanding of the bills that I've been voting on is one inch deep.
00:36:07.200
Whereas, you know, Ron DeSantis, even though he and I disagree on this issue, he understands
00:36:19.100
This is why she stopped taking questions at town halls.
00:36:22.080
If you go more than one question deep, she doesn't know what she's talking about.
00:36:28.740
For instance, I didn't vote for the $14 billion financial package to Israel.
00:36:34.800
Now, we can have a discussion about that, whether we can afford that, whether we should be doing
00:36:41.860
But she claims that I'm anti-Semitic or anti-Israel because I'm not voting for foreign aid.
00:36:47.680
I've never voted for foreign aid to any country.
00:36:52.860
And then there were some resolutions where we can have legitimate disagreements about
00:36:58.340
And then there was a vote that I took against a resolution that says anti-Zionism is anti-Semitism.
00:37:07.300
Now, it's true that a lot of anti-Semites are against Israel, just by definition.
00:37:14.200
But it's not true that if you have harsh criticism of Israel, or even if you don't believe in
00:37:22.860
Because if that weren't true, there'd be a lot of Jews who are anti-Semites.
00:37:25.760
I know, I was going to say, a lot of the Hasidic Jews here in America despise Israel.
00:37:33.100
Say it's an abomination of a state because it's not a religious state.
00:37:43.160
I don't think Gerald Nadler's anti-Semite is Jewish.
00:37:49.340
You know, the sad thing is, we've had 19 votes like that since our new speaker became speaker.
00:37:56.180
And what we should be focusing on is our own spending bills and cutting spending.
00:38:00.120
Instead, we passed these resolutions, which are frankly political gotchas.
00:38:04.760
The Republicans are trying to use that issue to catch the Democrats up in votes and then
00:38:11.200
And I just don't have an appetite for that, when we should be focused on our fiscal issues.
00:38:18.340
Right now in the House, we are about to throw away all the spending caps that were put in
00:38:25.640
I was on your show talking about this, taking heat from you.
00:38:30.100
Because I said, oh, I remember when I was young and naive.
00:38:35.220
He said, I think, and I said, you know, maybe I'm getting fooled here.
00:38:43.380
The White House and the Senate put those caps into law.
00:38:59.740
The problem is they had somebody illegally blocking or something.
00:39:04.820
They are about to, what happened is the Senate and the White House had buyer's remorse.
00:39:10.640
And the military hawks here and the appropriators on the Republican side are forcing Mike Johnson
00:39:18.280
through, I'll call it violence, you know, parliamentary violence.
00:39:22.440
They're just like, well, you know, we'll cause the government to shut down and you'll be blamed
00:39:27.020
for it, Mike, if you don't undo the deal from this summer.
00:39:31.460
You know, honestly, Thomas, you know and I know this government is dismantling America.
00:39:39.320
We'd be better off with the government shut down for a while to be able to put it back
00:39:52.000
I agree with you, but there's another option that they agreed to this summer, which is if
00:39:57.000
they would do what Jim Jordan and Warren Davidson and I prescribed and they agreed to, which
00:40:01.980
is a long-term CR, there would never be a threat of a shutdown, but there would be a
00:40:06.640
1% cut on April 30th to every department in the United States of America's government.
00:40:12.400
And there wouldn't be the chance of a shutdown, but that would motivate, I think, people to come
00:40:17.540
to the table and get policies like securing the border without a shutdown.
00:40:24.540
We got, and you know this as well as I, there's at least a dozen members here in the GOP conference
00:40:29.160
who will cross the aisle and sign something with the Democrats to, you know, stiff us on
00:40:38.100
And some of them have already announced their retirement, so they don't care.