Trump visits the Federal Reserve building and finds out how much it cost to build it. Does he know the truth or is he just trying to get on the wrong side of the numbers? Plus, President Trump visits the White House and learns the truth about the cost of the building.
00:01:51.360Also, they took a screenshot of that and put it on the front page of the Wall Street Journal of Trump standing there with Powell in the hard head.
00:02:08.260But misery, misery, misery is what's going on.
00:02:11.580But honestly, look, there's been a lot of debate about these numbers.
00:02:14.440I follow this guy and have known him for years, a guy named Mark Paoletta, who's with the Office of Management and Budget, at Mark Paoletta on X.
00:02:23.800So after all this back and forth, he tweets out the actual document showing the number.
00:02:59.060And so Trump showed up over there, I think mostly to make Powell miserable, but also to tell the American people he's got an eye on what's going on in the government and how much money we're spending over there.
00:03:50.540By 2025, the FRB budget shows costs for his project are now $2.5 billion, a more than $1 billion cost overrun for the current project, an 88% increase.
00:04:03.380This all came after Trump 45 and on Biden's watch.
00:04:06.500Final project was approved in September 2021.
00:04:09.700Do some research before spewing your despicable lies and smear.
00:04:14.300Tim Scott is a superb senator on Patriot.
00:04:16.060He is right to press your own problems.
00:04:54.200So, Tom, is this $3.1 billion of upgrades to the building, or is it a brand spanking new building they're building?
00:05:01.280Well, there's a little bit of a debate on that.
00:05:03.020Basically, when you have government buildings that get completely refurbished, like you go back and the whole Capitol Dome was completely refurbished.
00:05:13.020But it's the bones of our historical buildings usually stay intact, and we drew tremendous renovation to them.
00:05:20.360And when you read about all the renovations that are being done here, there are elevators that go up to, like, one office.
00:05:25.900They go up to a certain private office.
00:05:27.640And so there's a variety of things that go in there that you say to yourself, as an American, do we really need all this for the Fed?
00:05:33.040But this is the historic buildings in Washington, and let's face it, it costs more to renovate them than a typical building because we're not tearing anything down.
00:05:41.820You're sort of cleaning out and then building from the inside out.
00:05:44.760Now, I haven't seen the great detail on it, but I trust OMB.
00:05:48.420OMB is usually you typically have good patriotic individuals that are giving the media and the citizen the straight scoop out of OMB, and I believe that's what's happening here.
00:06:02.440And so what you have here is a complete rebuild, and that was very disingenuous, what Powell said.
00:06:08.040And I'm usually appreciative of Powell's measured thing, but it'd be like him saying, well, it didn't cost $100,000 to paint the White House.
00:07:27.980Even the second most expensive headquarters that was built, if I'm not mistaken, I saw this yesterday, was Goldman Sachs, the new one in New York.
00:07:56.640Nobody usually goes broke taking a contract with the Department of Defense or the federal government.
00:08:02.220They're ripe with corruption, and these contracts are usually quite bloated.
00:08:06.520And so, number one, I'd be willing to take a look at it if you had an independent auditor that took a look at exactly what you're talking about
00:08:13.780and looked at the price per square foot and what you're doing, and I think what you're going to find is just a horrible gouge of the American taxpayer
00:08:23.380to rebuild basically the inside of the Fed and the kind of contracts that go with it.
00:08:28.580And if he thinks it's bad, if he thinks he's having a bad day, he's about to be in the news having an even worse day
00:08:34.180because around 4 in the afternoon tomorrow, Trump's going to be on his butt again
00:08:38.000because he's going to announce he's not lowering interest rates tomorrow.
00:09:30.460And I think the story here is the official Washington, the people in official Washington who you would trust to manage a project like this,
00:09:38.000functionally have no interest in managing it, have no idea how to manage a project like this,
00:09:42.500and all of a sudden, voila, it's $3.1 billion.
00:09:45.100And so to me, this is another story about the rejection that the American people put on official Washington twice with Trump,
00:09:52.280which is to say we don't really trust how you manage things, so we bring in somebody from the outside who has some – this looks like a business guy to us.
00:11:56.940Your favorite scene when you interviewed Trump and you talked about, I loved your real life sort of vlog when you had Nancy Pelosi and Chuck Schumer.
00:12:05.260And he's like, I'll own the government.
00:14:07.920It's kind of what Adam had alluded to, the three clips of the South African president, Zelensky, and then what he just did with Jerome Powell.