The Great America Show with Lou Dobbs on the Debt Ceiling Crisis and the Biden/McCarthy Deal and what it means for the future of the country and the world. The Great America show is a daily financial and political commentary show hosted by the great man himself, Lou D.D. Dobbs.
00:00:26.200Hello, everybody. I'm Lou Dobbs. Welcome to The Great America Show.
00:00:33.520Hope you had a great, relaxing holiday.
00:00:36.080With all that's happening in this country, it's good to be rested and ready for what's next.
00:00:42.260There should have been a shuddering throughout the land when the debt ceiling negotiations featured for the big spending Marxist Dems, the impaired puppet president,
00:00:51.340and for the House Republicans, a rhino speaker of the House who has been a pretend conservative in the debt talks.
00:00:59.220It worked out just about as I had expected, perhaps a little worse, and I thought the result would be bad, mind you.
00:01:06.820But the Republicans have been sold out by McCarthy, and the Democrats got literally everything they demanded, and more, actually.
00:01:14.140This is what these two statesmen negotiated, and if you're a Republican or an independent, I hope you're bracing yourself.
00:01:22.180Biden and McCarthy's deal isn't about cutting spending.
00:01:26.160It's not about restraining the Marxist Dems' wild runaway spending.
00:01:30.980The Speaker and the President agreed to suspend the national debt ceiling altogether.
00:01:36.520That's right, they agreed to just ignore the $31.4 trillion debt ceiling and suspend it until January 1st of 2025.
00:01:47.980And in so doing, they added another $4 trillion to spending $4 trillion.
00:01:53.840That's outrageous and flat reckless of both parties.
00:01:57.520Every American who cares about this great nation, this constitutional republic of ours,
00:02:03.880understands what these two laughably inept so-called leaders did.
00:02:08.860They removed any break on federal spending as a practical matter.
00:07:29.580I'm sure that everybody listening to this show recognizes that.
00:07:33.220Unfortunately, the president of the United States doesn't.
00:07:35.860So this president has made it pretty clear he doesn't understand fiscal policy whatsoever just in the first two and a half years of his presidency.
00:07:43.900This is unprecedented levels of spending by any president in our history.
00:07:50.120The national debt now is a percentage of GDP is no longer a percentage of GDP.
00:07:56.680It is working its way well beyond GDP.
00:16:09.660I don't blame him for being very, very ticked off, and there's probably a more appropriate word there than that.
00:16:19.480But if you read the Durham report, it tells you what most Americans recognize to be the truth if they've been paying attention to what's been going on.
00:16:29.780Look at what Adam Schiff did in the Intel Committee and how he ran what was a flat-out hoax investigation of the president for years.
00:17:34.860She literally ran for office saying that she was going to go after President Trump.
00:17:43.140It's unconscionable to me that the American voters would elect somebody on the platform that they were going to go after the President of the United States.
00:17:56.700It's like we're living in a foreign country now, Lou.
00:17:59.380Well, part of the country is very much that alien, in fact, to the values of this country, alien to our heritage.
00:18:07.360And by the way, many of them, particularly in the Marxist Dem party, and I refer to them that, is because the Marxists amongst the Dems are now in charge of that party.
00:18:19.060They are in charge of this impaired and puppet president.
00:18:23.780You and I both know that she is nothing more than a radical and a supported radical with an agenda and not probable cause or in any way an interest in justice.
00:18:39.800This is a coordinated attack, whether it be the D.A. in Fulton County, whether it be the Manhattan District Attorney,
00:18:46.780whether it be the State Attorney General of New York or whether it be Jack Smith Special Counsel talking about classified documents.
00:18:56.140There is an American in the country, whether left or right, who doesn't know that this is a jacked up frame up job because they've seen it's like for eight long years when it comes to President Trump.
00:19:10.120And look, I mean, the people who have immigrated to this country, a lot of the people who have immigrated to this country have come from countries where that's standard operating procedure with the way you attack your political opponents.
00:19:22.280It happens in every communist country out there.
00:19:24.860It happens in countries like Russia, where if you disagree with the leadership of the country, you get to go to prison.
00:19:29.700And now it's happening right here in America.
00:19:32.600And, you know, it's it's it's every everyone who is conducting themselves like this is elected, you know, on the Democrat side of the ledger.
00:19:40.900And and and I will tell you, Lou, I hope we as Republicans, if we have Republicans that start to to operate that way,
00:19:47.880we need to purge them from our party because because our party has got to stand for the Constitution.
00:19:55.140We are watching it be shredded by these Marxist stems.
00:20:00.220I have to say that you and the House are doing the best job of Republicans over the course of the last decade in bringing in confronting and taking up the conflict in their arena.
00:20:15.240I want to just say to you, I salute you.
00:20:19.480You and your colleagues are doing the Lord's work.
00:20:22.300And I know it's tough and I know that they're going to be high expectations and they're going to be disappointments and there is going to be controversy.
00:20:31.280But I tell you what, without you, I don't know where this country would be right now, because you are the only countervailing force against evil in that deep, deep D.C.
00:20:42.160Well, Lou, it's I mean, look, you play a big role in this journalism, as you know, I mean, the Walter Cronkite's, the Tom Brokaw's of the world from the guys that were out there when I was much younger.
00:20:56.200They may have skewed left to right, but they didn't just flat out make stuff up.
00:21:00.520And unfortunately, in the in the mainstream media today, people just make things up.
00:21:04.620I mean, you look you look at the look at the attacks on Tim Scott, who's a great man, great friend of mine.
00:21:10.940Look at him attacking Ron DeSantis and Ron's wife.
00:21:13.380I mean, don't don't think for one minute as a Republican, whoever you're for, whether you're for Donald Trump or Ron DeSantis or Nikki Haley or Tim Scott, don't think for one minute that whoever the Republican nominee is, that that nominee is not going to be hunted the same way the Democrat, the Democrats, you know, use the Justice Department and other arenas to hunt Donald Trump.
00:21:38.280It's just a double standard. And unfortunately, Lou, it's never going to be reported on by, you know, the mainstream media.
00:21:47.560And the mainstream media is, to me, simply a shorthand for the corporatist own Marxist left.
00:22:23.580Let's not let's not discount what the Black Rocks of the world are doing.
00:22:26.960I mean, you know, you take, you know, your money, my money, everybody, everybody, every one of us who participates in some type of retirement plan or mutual fund.
00:22:35.420We don't we don't get to vote those shares.
00:22:39.420Those those investment firms that that we invest with are one the ones that get to vote and control our shares.
00:22:47.240And so when you look at this ESG movement inside this country, look how much money it's cost Ford Motor Company.
00:22:52.780And yet Ford Motor Company can't let go of it.
00:22:57.780Well, they can't let go of it because their major investors are activists on that side of the equation.
00:23:03.440And it'd be interesting to see how much, you know, BlackRock owns in Ford Motor Company.
00:23:07.940Be interesting to see how much they own in Fox News, for example, and what actually happened at Fox News.
00:23:14.840I mean, I'm I'm I'm very concerned about about about what I believe is manipulation of boards and and and corporations by a very small group of people who have tremendous power because they literally have the right to vote the shares that aren't even shares that they own.
00:23:37.260They simply control them because you and I have have invested in companies that that they get to vote their shares of.
00:23:44.360Yeah. Wall Street will have much to answer for.
00:23:47.300And we have not even started to discuss the investment, the capital, the capital outflows to communist China when we already know they are now the greatest adversary and enemy of the United States.
00:24:01.780And mean, by the way, the way, absolute nothing, nothing to the United States other than harm in the years ahead.
00:24:25.640We're talking with Representative Austin Scott.
00:24:28.500Congressman, we're talking about Wall Street.
00:24:30.960We're talking about so many influences that are that are negative in our society, not least of which is the corruption of the FBI, the Department of Justice, the intelligence community, as it documented in so many reports and investigations that have amounted to not to accountability, but at least to building the body of public knowledge in this country that otherwise would be completely ignorant to the facts.
00:24:57.960Your thoughts about what we can do to bring to heal a corrupt justice department, an FBI, and an intelligence community that seems to, these agencies, some 18 of them, seem to spend more time surveilling U.S. citizens and officials than they do enemies of the republic.
00:25:21.620Yeah, let me, let me, let me say this.
00:25:23.680Most of the people that I know that are agents in the FBI are good, honorable people that are doing the best they can.
00:25:32.320They take their oath to the Constitution very seriously, just as the people I know in the ATF that are out there on the street on a daily basis take their oath to the Constitution very seriously and very much disagree with the conduct of the leadership of these agencies under the Justice Department.
00:25:49.880I think, Lou, when you see, as things move forward with different things in the intel community, if the FBI does not accept that they have a problem and they're going to make changes to the procedures, then you're going to turn around and see significant restraint of what the FBI has the authority to do with 702 and other things.
00:26:14.060That's my guess. That's my guess. I'm not saying that that is going to happen. I'm saying that's my guess. There are, there are, there are serious problems in the leadership of that agency.
00:26:26.840And there seems to be a reluctance to admit that there are problems in the leadership of that agency with the bias that they have. So elections have consequences. When you have Merrick Garland in charge of the Justice Department, you're not going to have anybody that is going to stamp out a corruption or bias as long as the corruption and bias is working against Republicans or conservatives.
00:26:50.000So we have to recognize that we simply have to get honorable people in the positions of authority. We have to be able to govern on the truth. The unfortunate thing is we've talked about the past, Lou, just here in the last few minutes is most Americans don't know the truth because they don't have a news channel they can go to anymore.
00:27:14.960So they look at Facebook, they look at Twitter. I mean, the lack of journalism in America, Lou, makes it very difficult for us to govern. We need the public to know the truth.
00:27:27.040If the FBI leadership was engaged in things that helped skew an election one way or another, the American citizens need to know that and there should be consequences of it.
00:27:39.760If all of these intel community officials engaged in a cover-up for Joe Biden, the American public needs to know it. And there need to be consequences for that.
00:27:54.120And the unfortunate thing, Lou, is unless you're watching conservative news, you're not seeing this.
00:28:02.320And so the vast majority of America doesn't even recognize the facts of what's happening in their own country.
00:28:10.700Right. Well, as you point out, many of the reasons that personally, I don't know if we can get to the next election.
00:28:24.380And in another sense, it is it is so distant in the future so much that is evil can can without question design and become the architect of.
00:28:40.780And that is a future that is bereft of freedom, liberty, personal rights.
00:28:45.880We are watching. We're right. We're watching right now. You mentioned 702s.
00:31:02.740You know, I do want to mention this, though.
00:31:04.820I mean, with that said, I mean, the one thing that I do where I do think conservatives have said enough is enough.
00:31:11.700And you can see this very clearly in what happened with Bud Light.
00:31:14.380I mean, we as conservatives have have never believed in boycotts, because when you boycott, you hurt people that aren't responsible for what happened.
00:31:21.660But Americans have said enough is enough.
00:31:23.580So, you know, when Bud Light did what they did, it's cost that company billions of dollars.
00:31:29.360When when Target has done what it did, I stopped shopping at Target many years ago.
00:31:34.080But if you look at what's happening with Target, they're having to change their approach to things.
00:31:38.060If you look at what the L.A. Dodgers have done, I'm a I'm Baptist, Lou.
00:31:44.040But I mean, their their affiliation with a group that clearly mocks people of the Catholic faith.
00:31:51.580That's unconscionable. And that wouldn't have happened just 10 years ago.
00:31:55.060It has moved very far in the wrong direction in 10 years.
00:31:58.520It can move very far back in the right direction in 10 years.
00:32:01.220And you think about how fast we turn the economy around when when Donald Trump became the president of the United States by by making sure that the that the regulatory process in the country was pro growth and pro business.
00:33:57.540I can't conclude without talking about Janet Yellen's ex-state and the debt limit with everything that's going to be happening over the next couple of days.
00:34:05.020And the thing I just asked your people to remember is this.
00:34:09.560Biden, Pelosi, Schumer, 117 years of political experience.
00:34:16.420They knew exactly what they were doing in December.
00:34:19.380When Joe Biden signed the omnibus bill into law on December the 29th of 2022, we were at 99 plus percent of the statutory debt limit.
00:34:27.280This current ex-state crisis that we're in, it's intentional.
00:34:32.300They knew exactly what they were doing, and it was a political maneuver that they did.
00:34:39.540And they knew exactly what they were doing when they did it, Lou.
00:34:43.560And it's not inconsistent with every other policy from this Biden regime in which every one of those policies and every one of those initiatives seems to be aimed at the devastation and the destruction of this country.