Jan. 19, 2023 - Bannon's War Room
48:49
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal stream of a dying regime. | ||
|
unidentified
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Pray for our enemies, because we're going medieval on these people. | |
| You just not got a free shot at all these networks lying about the people. | ||
| The people have had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
| MAGA Media. I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room, here's your host, Stephen K. Bannon. | |
| We'll start with the debt limit. | ||
| The federal government has a $31.4 trillion borrowing limit that will reach that today. | ||
| It's the job of Congress to raise that ceiling in order to continue paying America's bills. | ||
| But with no legislation in sight, the Treasury Department will begin resorting to extraordinary measures to keep the nation from a catastrophic default. | ||
| And there's any possibility of a deal, Willie? | ||
| I don't think so. Someday. | ||
| Probably not this day, though. | ||
| Let's bring a congressional reporter for The Hill, Michael Schnell, here on set with us. | ||
| Good to see you, Michael. And NBC News senior political reporter Sahil Kapoor live on Capitol Hill. | ||
| Sahil, I'll start with you. | ||
| So Treasury Secretary Yellen has expressed today, Thursday, as a day of some urgency when the country meets its debt limit. | ||
| Are you seeing any of that urgency on Capitol Hill? | ||
|
unidentified
|
Not at this moment, Willie. | |
| Today is the day that the U.S. hits its statutory debt limit. | ||
| That's according to a recent letter by Treasury Secretary Janet Yellen. | ||
| It's not time to panic just yet because Treasury can use what it calls extraordinary measures to continue paying the bills. | ||
| That's the equivalent of looking for cash in the drawers and the couches. | ||
| And Treasury tends to be pretty good at knowing where that cash is stashed. | ||
| They believe it'll last until at least early June. | ||
| Then Congress is going to have to act. | ||
| to prevent an economic calamity. | ||
| And on Capitol Hill, it is difficult to see how that happens at this moment. | ||
| Republicans have taken control of the House. | ||
| They feel empowered. And they're making a host of demands in terms of budgetary concessions as a price for raising the debt limit. | ||
| It's something we've seen in the past. | ||
| And for the moment, President Biden is making to Republicans the same offer that Michael Corleone made to Senator Pat Gary in The Godfather, which is nothing. | ||
| He does not believe this should be negotiable. | ||
| He says there should be no strings attached in order to get this done. | ||
| Now, Speaker McCarthy, who is leading the push for some concessions on this, has said, A debt limit increase with no tax, he says, is, quote, totally off the table. | ||
| He argues that the federal government's spending should be curtailed to save programs like retirement programs from bankruptcy. | ||
| He says, quote, let's sit down and find a place that we can protect Medicare and Social Security for future generations. | ||
| Let's put our House in order. | ||
| Now, Democrats have seized on this to attack Republicans as plotting to cut Medicare and Social Security benefits. | ||
| They say that should be completely outside the bounds of this conversation in any way. | ||
| The next step is likely for Speaker McCarthy to see what, if anything, can get 218 votes in the House. | ||
| What can he pass with his narrow majority and then put pressure on Senate Democrats and the White House? | ||
| It's not clear what that is. | ||
| There is a host of You know, conservative lawmakers who have made demands, but there's no specific policy proposal, much less one, that can get the votes. | ||
| One other problem for Kevin McCarthy. | ||
| We saw, and just in the last 24 hours, this back-and-forth unfold. | ||
| Congressman Andy Biggs said in a tweet, let's put this on the screen, quote, We cannot raise the debt ceiling. | ||
| Democrats have carelessly spent our taxpayer money and devalued our currency. | ||
| They've made their bed, so they must lie in it, unquote. | ||
| The White House came back at that and said, Congressman Biggs is dead wrong to actively support the ruin of millions of American households, 401k plans, and small businesses, all in the name of scorched earth partisanship. | ||
| That's according to White House spokesman Andrew Bates. | ||
| You can see the battle lines developing here. | ||
| It's hard to know how this gets resolved, but one way or another, Congress is going to have to act, or the U.S. could, for the first time in its history, default on its debt. | ||
| A nation's highest duty is to its own citizens. | ||
| citizens. | ||
| A pro-worker, pro-family agenda demonstrates how a nation can thrive. | ||
| But to embrace the possibilities of tomorrow, we must reject the perennial prophets of doom. | ||
|
unidentified
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How dare you? I wanted to panic. | |
| I wanted to feel the fear. | ||
| Climate protesters completely blocking traffic. | ||
| We have to prepare for a more angry world. | ||
| These alarmists always demand the same thing, absolute power. | ||
|
unidentified
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What we are very proud of is that we penetrate the cabinets. | |
| To dominate, transform, and control every aspect of our lives. | ||
| We have to define how the world should look like, which we want to come out of this transformation. | ||
| Build Back Better package will transform the U.S. economy into a thriving, innovative, equitable and just clean energy engine. | ||
| That is hilarious. Record gas prices across the country. | ||
| We're trying to make it easier for people to get here. | ||
| They want to fundamentally transform America. | ||
| America will always be the proud, strong bastion of freedom. | ||
| We will make greatness our common mission for the future. | ||
| Okay, it is 19 January in the year of our Lord, 2023. | ||
| It's Thursday. Preseason's over. | ||
| It's kickoff. It's game day. | ||
| Today's the day that the Treasury Secretary, who, by the way, was not at Davos. | ||
| She wouldn't go there, right? She's traipsing around Zurich with Lee He. | ||
| The CCP's chief strategist and negotiator for all things CCP. And he gave that pitch at Davos yesterday about it. | ||
| About China's back, China's going to lead the economy, world economy, all of it. | ||
| Of course, President Trump came out last night with the anti-CCP video, this morning with the anti-Davos video on America First. | ||
| I think there's been some terrific, terrific video. | ||
| I think the Trump campaign is now getting hyper-focused. | ||
| On exactly what the issue is. | ||
| The issue is not Ron DeSantis. | ||
| The issue is Joe Biden, the administrative state, and what they've done to the country. | ||
| I want to bring in, of course, we've got an all-star lineup this morning. | ||
| I'm going to start with Russ Vogt, but I just want to make a correction. | ||
| I know that Steve Cortez is going to join us also. | ||
| His head was blowing up. NBC, and I want to connect some dots here. | ||
| NBC was wrong about Michael Corleone and Senator Pat Gary. | ||
| He didn't say nothing. | ||
| He said, no, Senator Gary, here's my proposal. | ||
| You pay the fee. | ||
| You pay the gaming license fee. | ||
| Let's get your facts right on Godfather. | ||
| And here's why it's important. That's what Andy Biggs was saying. | ||
| That's what Andy Biggs is saying in that tweet. | ||
| The Democrats, we're going to go through chapter and verse about how the administrative state and their funding mechanism, the Fed, this is going to be a great teaching moment for the American people. | ||
| And that's what they don't want. Russ, I want to bring you in here. | ||
| Russ, you've done such a great job, and I want you to walk through how we got here. | ||
| But this is a teaching moment for the nation. | ||
| This is a teaching moment of exactly how we arrived at this spot and to stop all the nonsense and all the, oh, this is just paying for previous bills. | ||
| We're cutting all that crap. | ||
| The American people are going to actually understand how we got $30 trillion. | ||
| In debt, we have another $30 trillion of Social Security Medicare. | ||
| We have some really, I think it's $60 trillion. | ||
| We've got another $9.5 trillion at the Fed that we have a trillion dollar loss, looks like, embedded in. | ||
| The taxpayers are going to have to pay for it without any congressional authorization. | ||
| We have contingent liabilities, I don't know, present value, $100 trillion north onto the U.S. dollar with no jobs, our manufacturing base. We're going to use this as a teaching moment. | ||
| To make sure that working class people and middle class people who are, trust me, I went to Harvard. | ||
| I worked at Goldman Sachs. | ||
| My dad had a high school education. | ||
| My grandfather had a third grade education. | ||
| Two smartest guys I know. | ||
| They understood this. | ||
| The American people will understand it because you're smart as any McKinsey partner, any Goldman Sachs partner. | ||
| We're going to use this as a teaching moment. | ||
| So Russ, vote. What do we need to teach the American people so they can understand this, sir, so they're not hoodwinked about actually what's going on here? | ||
|
unidentified
|
Yeah, a couple of things. Number one, people always talk about we need a balanced budget requirement in the federal government. | |
| We have a balanced budget requirement in the federal government. | ||
| It's called the debt limit. And when politicians put money on a credit card at the federal government level, what they are doing, that gets paid for with the debt limit. | ||
| So people will make the case, well, these bills were racked up before I got here, but I certainly got to pay the credit card out. | ||
| But you know what the normal family does is they rip up the credit cards. | ||
| They get on a plan and they actually are putting themselves in a position where they actually get their fiscal house in order. | ||
| But I think what What is happening this week is largely the cartel doing a hurry-up offense in response to the massive wins that the House conservatives made in the House of Representatives to be able to have the power to now control what gets done in the House. | ||
| And you're seeing great members like Andy Biggs saying, no, this is your problem. | ||
| You're going to have to come and you're going to have to get the votes to be able to get this done. | ||
| And we're not going to just bail you out of this situation with some cheap ass. | ||
| This is your problem. You figure it out. | ||
| You're the cartel. | ||
| You know you have to come and pass a law. | ||
| This is the cartel coming outside of backroom deals, out of backroom hallways and corridors to where real stuff is supposed to happen on the House floor and Senate and getting something passed. | ||
| Anybody that's had a lemonade stand or a little coffee shop or anything, or anybody's got a business or even try to think about a business, or if you looked at a business plan, you've got to project out. | ||
| This is the key point. | ||
| The cartel, you know, because Stephanie ruled last night saying, where's McCarthy's offers? | ||
| Any offer even started? There should be, there's no offers. | ||
| We've got plenty of time here. | ||
| Isn't the first step, and I know you've worked on the prioritization of payments, which has got their heads blowing up, about how you actually do this without ever defaulting. | ||
| But isn't the first step, That the regime and the cartel have to come forward and show us a financial model. | ||
| Janet Yellen's letter is void of any numbers. | ||
| This all gets down to a set of math. | ||
| Ross, your great think tank or action tank worked on your balanced budget for months and months and months in its levels of detail. | ||
| Doesn't the administration owe the American people to have Janet Yellen Treasury come forward and actually Show us the money. | ||
| Show us exactly where we are. | ||
|
unidentified
|
Is that step one? Yes, they need to do two things. | |
| Number one, they need to do their projections and give us what they're expecting on a month-by-month basis in terms of receipts. | ||
| They need to show us their models. | ||
| They need to be able to show us their plan to prioritize payments. | ||
| Every Secretary of Treasury knows that they are not going to allow to default on the debt. | ||
| They're going to widen their political notion of what default means, but they are not going to allow a default on bonds and interest on those bonds. | ||
| Period. End of story. | ||
| No Secretary of Treasury is going to allow it, and they have the legal authority to do it. | ||
| Now, they also need to tell us how they intend to prioritize. | ||
| So what bills will they pay and what bills they won't pay? | ||
| A dollar at NIH spending for some The research that we know has harmed the country is not the same as a dollar to pay back bondholders. | ||
| It's just not. And Tim Geithner previously as Secretary of Treasury tried to define it as such. | ||
| So they need to come forward and then they need to come forward with what they want as they think is necessary to be able to get a debt limit increased if necessary. | ||
| That needs to be on them. | ||
| And Republicans need to realize they have all the time in the world. | ||
| These are all fake deadlines. | ||
| Today's deadline is fake. | ||
| They brought it strategically and politically so that we can start having this debate and to push Republicans into a situation where they panic because they don't know what to say. | ||
| We've given them what to say. | ||
| Be against woke and weaponized government. | ||
| Stop talking about Social Security and Medicare. | ||
| Those things do not have to be on the table. | ||
| They should not be on the table. | ||
| And then this will likely materialize as they fight after a series of spending fights that arrive in third quarter. | ||
| This is not even in June. | ||
| This is third quarter, most likely. | ||
| So this is going to play out over the next several months. | ||
| People should just get a nice seat on the couch. | ||
| And be able to settle in and work this over the next several months and Republican members need to just chill out. | ||
| Remember, it's all about leverage. | ||
| Andrew Clyde came on here as a small businessman. | ||
| He says, hey, every small businessman knows it's always about leverage, not financial leverage. | ||
| This is the leverage, operating leverage, and the ability to negotiate and have leverage. | ||
| Russ, I know you stay on a few minutes through the break. | ||
| This is inextricably linked to taking the gavel away on the appropriations bill. | ||
| This is how the omnibus was tied into this. | ||
| They wanted to get the omnibus first, so they took our ability to defund things right now. | ||
| Think about we had the ability to defund. | ||
| You'd have these incredible hearings going on right now. | ||
| They took that away because they knew we were coming to power. | ||
| And now they tried to jump, they pulled this up closely because they want this, they want a quick win. | ||
| You agree, Russ? 30 seconds. | ||
| We should not put any terms on the table at all right now. | ||
| Just sit back, let them stew, correct? | ||
|
unidentified
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Absolutely. That's the only way to play this. | |
| Russ, hang on. We'll take a short break. | ||
| Russ, vote. Join us on the other side. | ||
| We have Steve Cortez, Dave Brat, Todd Benzman. | ||
| Brass Muslin's got some new polling out on immigration and the border. | ||
| Border security. All next. | ||
|
unidentified
|
Warwick. Here's your host, Stephen K. Bannon. | |
| Okay, welcome back. I think, I believe, Russ, it was, I think it was Bunker Hill or Breeds Hill, whatever the actual hill was. | ||
| The order was steady, lads. | ||
| Wait till you see the whites of their eyes. | ||
| Got to stay steady here. | ||
| Russ, how can we get, if this is a great teaching moment, not just for MAGA, because I think MAGA is far ahead of everybody else, but for the whole nation. | ||
| How do we go about that, and how does your great organization help us make sure the American people fully understand exactly what the con is here, so they understand, because when the common sense of the American people make a decision, it's the most powerful force on earth. | ||
| So how do we help to do that, Russ? | ||
|
unidentified
|
Commitment to end woke and weaponized government. | |
| And what it does is it balances in 10 years, has pro-growth, but it changes the paradigm in Washington to be able to go after the cartel and the bureaucracy that is crushing the American people. | ||
| And we will continue to put that out there. | ||
| You can get it at americarenewing.com. | ||
| But I want to give a real easy filter for anyone that's watching this program as they try to assess where their member of Congress is. | ||
| If your congressman is talking about the bureaucracy or the IRS or ATF or Department of Education putting CRT sewage in the public schools, You get a good sense that they're on the right track with how to think about this debt limit. | ||
| If they're talking about Social Security and Medicare reform, they are taking the shiny object that has been a fiscal cul-de-sac for 30 years and led to every single loss and been politically unpopular. | ||
| They do not get it. | ||
| Now, they may not be all wrong in terms of like they're the bad guys, but there has not been a paradigm shift in how they are Properly processing this spending fight. | ||
| So we're going to be talking about woken weaponized bureaucracy at every turn as we set up the next few months to make sure that the House Republicans are talking about having debates about this. | ||
| And then as it turns through the months, we'll see what the administration comes forward and the House of Representatives are in the driver's seat at every turn. | ||
| But what they can't do is they can't go to where their enemy wants to talk about, which is Social Security, Medicare. | ||
| And they can't rush to be the first ones to start the negotiations and put something on the table that does not meet what is necessary to save our country fiscally. | ||
| Russ, how do people get to you both on social media where you're putting great stuff up all the time and also to your website? | ||
|
unidentified
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At RussVote on all the channels on social media. | |
| That's the most timely, and then they can also get us at americarenewing.com, where we're a full-spectrum dew tank for the MAGA movement. | ||
| I tell you, they're doing great work. | ||
| In fact, Rachel Sumo, I think, runs comms. | ||
| They're doing a great job of getting access to your people, which is incredible. | ||
| You're doing so much. This is the main event. | ||
| And Russ is the guy. He's the OMB director under President Trump and deputy under – first he was the deputy, then he was the main guy. He knows where all the bodies are buried and how much dirt is on top of each one. | ||
| Russ, honored to have you on here. | ||
|
unidentified
|
here thank you sir. Thanks Steve. | |
| Cortez, we start the negotiation from... | ||
| First thing on the negotiation, particularly in a bankruptcy, that's what this is. | ||
| We're not going to default into the debt. | ||
| There's plenty of cash coming in. | ||
| Plenty of cash to pay the interest in the face amount in Medicare and Social Security. | ||
| Other things, you know, there has to be a prioritization, finally. | ||
| And I know they hate that. | ||
| The two things they hate are the prioritization of payments plan. | ||
| They hate that. And they're just going to have to embrace the suck because that's coming, right? | ||
| But more importantly, have you ever been in a situation where they're running around with their hair on fire and they won't show anybody any math? | ||
| Right. How can you even have a... | ||
| How can you start a negotiation on something as big as... | ||
| And here's why you've got to have the math. | ||
| When I say show us the model, I want to see the model of what you're looking at, and I want to include the Fed. | ||
| We have a trillion-dollar air pocket, I think, in losses over the Fed. | ||
| You know what that scam has been over there. | ||
| That's totally without congressional authorization. | ||
|
unidentified
|
Steve Cortez. Steve, it's a great point. | |
| The idea of the preconception that we're just supposed to take their word for it from these people, people like, for example, Janet Yellen, who has been utterly wrong on every important macroeconomic In her tenure as Secretary of the Treasury, she told us for an entire year straight that inflation was, quote, transitory, when it was in fact systemic and it was embedded in the American economy because of the actions of her boss, | ||
| of Joe Biden. We're now supposed to just take her word for it? | ||
| No, we're not going to take her word for it. | ||
| And so this is the moment, you know, I think in an ironic way, Steve, this is a day to be celebrated because we're hitting the debt limit, okay, and that is bad news. | ||
| The United States has run up $30 trillion But it's also good news because it means we're at the leverage point now. | ||
| We are at the pressure point where, thankfully, we have, because of what the voters did, because of what we earned by winning the House, by winning that gavel back, taking it away from Nancy Pelosi, we have earned a seat at the table In Washington, D.C., and this is the leverage point for us to now use that power that has been given by the American people to the Republican Party, to the America First movement, to improve this nation. | ||
| And my number one goal regarding that leverage is to secure the border. | ||
| I think that this is the chance, Steve. | ||
| This is the chance for the Congress, for the House of Representatives to stand up and say, We will not increase this debt limit unless we get A, B, C, and we need to prioritize on our side of the ledger. | ||
| What is first priority? | ||
| To me, it's the border. | ||
| It's prioritizing the sovereignty of the United States, which has been totally surrendered by Joe Biden. | ||
| There are other critical issues, of course, for us to negotiate as well. | ||
| But the point is, this is the time, the fulcrum moment Where we finally, at last, after two years of suffering through democratic rule of the entire Congress, both the House and the Senate, this is the time when we have leverage and let's use it. | ||
| And so, Speaker McCarthy, what he should do, Steve, to your point, he should smile. | ||
| Just continue to say no. | ||
| Time is on our side. | ||
| It will be up to the White House. | ||
| If they decide to shut the government down, for example, if they decide to prioritize illegal immigrants over American citizens, and if they decide to shut the government down, then it will be up to them to prioritize the payments. | ||
| The schedule of payments will be on them, not on Speaker McCarthy, not on the House GOP. You saw the victory we had on the five days that changed America, that intense time. That was this audience lighting people up. | ||
| It got so bad they just cut the switchboards off. | ||
| This is going to be another one because we have to have a global settlement. | ||
| You say this in bankruptcies. | ||
| We have to have a global, we have to take care of everything, you know, all the accounts payable. | ||
| We got to have, we're not just going to kick the can down the road anymore. | ||
| And seeing their model, What we have to do is things like – you can't monetize the debt anymore. | ||
| What I mean by that is that you have – Steve, as you know, you have tariffs and fees and taxes that come in, and then you have Medicare and Social Security, things that you're contractually obligated by statute. | ||
| To pay out, and you got the interest and you have the debt, and you can sell bonds to Japanese insurance companies and the CCP, but even they're kind of tapped out. | ||
| Although you raise interest rates, you get it because guys chase yield, right? | ||
| Of course, those interest rates raise on the American people, so it's the little guy gets crushed. | ||
| But then they just, they have Treasury, they just create bonds, and the Fed buys them. | ||
| That's how they've been doing the stopgap here. | ||
| That all has to stop. All the games, you know, Trump's got this great phrase, no games. | ||
| So here's the thing for, and really, Stephanie Ruhle and Aaron Burnett. | ||
| Aaron Burnett was over at Goldman Sachs as an analyst, as a Grundoon. | ||
| Stephanie Ruhle's worked on Wall Street and around Wall Street for many years. | ||
| Maria Bartiroma. Those three could be at the tip of really helping to explain and just stop with the, oh, you've already paid for this. | ||
| That's nonsense and nobody buys it. | ||
| You just look dumber by doing that. | ||
| But we need a national conversation and we're prepared to come forward with it with detailed financial numbers. | ||
| Of what the scam is and what the lies are and how the administrative state has the Federal Reserve that just sits there and covers their deficits. | ||
| And when they want to, they just sit there and put trillions of dollars on the Federal Reserve for liquidity, Steve, as you know. And that liquidity tends to concentrate wealth. | ||
| And then what do they do? | ||
| They socialize the bailouts. | ||
| So the public, the little guy faces the bailouts and the taxes, and the wealthy get a concentration of assets, stocks, and bonds. | ||
| It's a sick game, and the game's going to stop. | ||
| No, Steve, and that's- Cortez, you agree with me. | ||
| It's got to stop. Go ahead, sir. | ||
| That's such a critical point, is that the little guy, okay, the deplorables are backstopping the privileged elites who get all of the upside. | ||
| The deplorables get none of the upside, but yet have to backstop as they did in the great financial crisis in 2008 and 2009, bailing out Wall Street, bailing out the asset managers, but don't share them in the upside. | ||
| You're exactly right. And this disequilibrium, okay, this insanity, it absolutely has to stop. | ||
| And let's put some data on this, by the way, because what are the real-world kitchen table ramifications, the tangible ramifications of this profligacy, of this borrowing and spending madness? | ||
| Well, according to Heritage Foundation, since Joe Biden took office, the average American household has lost $7,400 in real income, meaning income adjusted for the cost of goods and services That they need in their lives. | ||
| Minus $7,400 per year in lost income because of this inflation, because of rising interest rates. | ||
| But hold it. | ||
| Don't bury the lead. | ||
| That's lost income because of the inflation versus your wages, which are now 21 months. | ||
| Add in the interest cost is because of this. | ||
| If I add the $7,400 to the increase in the $16 trillion of credit card debt, baby, you're getting the shiv. | ||
| Just remember, the great awakening we can have here, not spiritual, but great awakening and understanding, is understanding they've got a perfect system for themselves to have money, power, and control. And it's going to continue until we break it. | ||
| That's why we call it a cartel. | ||
| And this is the time to break it. | ||
| You know the way to break it, Steve? | ||
| Just explain to the American people exactly how the system works and how they're underwriting it. | ||
| And once they understand that, you can have all the MSNBC and New York Times and all the people, the mouthpieces for the cartel and the establishment Republican and the conservative media, they don't have a leg to stand on. | ||
| That's why it's, hey, very simple. | ||
| First step one, show us the model. | ||
| Let's see your financial model. | ||
| I wanted to see some numbers here. | ||
| Put some numbers on that. Let's sit down and talk. | ||
| See some numbers and then we'll look at it and we'll review it. | ||
| MAGA is the head of the creditors committee, the war room posse. | ||
| They want to see some numbers. | ||
| Let's start there and then we'll get back to you. | ||
| Short break. Dave Brat joins us next. | ||
|
unidentified
|
Here's your host, Stephen K. Babb. | |
| Now the price for the license is less than $20,000, am I right? | ||
| That's right. Now, why would I ever consider paying more than that? | ||
| Because I intend to squeeze you. | ||
| I don't like your kind of people. | ||
| I don't like to see you come out to this clean country in your oily hair, dressed up in those silk suits, trying to pass yourselves off as decent Americans. | ||
| I'll do business with you, but the fact is that I despise your masquerade, The dishonest way you pose yourself, yourself and your whole f***ing family. | ||
| Senator, we're both part of the same hypocrisy. | ||
| But never think it applies to my family. | ||
| I'm going to go get a drink. | ||
| All right. All right. | ||
| Some people have to play little games. | ||
| You play yours. | ||
| So let's just say that you'll pay me because it's in your interest to pay me. | ||
| But I want your answer in the money by noon tomorrow. | ||
| And one more thing. Don't you contact me again, ever. | ||
| From now on, you deal with Turnbull. | ||
| What in the book, son? I'm Senator. | ||
| You can have my answer now, if you like. | ||
| My offer is this. | ||
| Nothing. Not even the fee for the gaming license, Which I would appreciate if you would put up personally a picture of yourself. | ||
| I'm not sure if I would be interested in that. | ||
| Cortez, I've always argued, and I've got Dave Brat now, I've always argued, and Brat, you ought to know this down at Liberty Business School, any aspect you want to know of business, Godfather 1 and 2, has teaching moments throughout the film on everything. | ||
| So MSNBC was wrong this morning. | ||
| It's not that the answer is nothing. | ||
| It is, we want you to pay for it. | ||
| And that is what Andy Biggs' tweets about. | ||
| It's time for the administrative state to And the wealthy and the folks that control the cartel, we're not putting a bid up. | ||
| We're not going to give you a bid away. | ||
| You're going to show us the model. | ||
| And guess what? A big hunk of how this thing gets sorted is going to come out of the cartel folks. | ||
| This is what this negotiation is about. | ||
| Steve Cortez, lessons learned from the godfather in this negotiation, sir. | ||
| That's right. You know, there's that famous book about everything I needed to know I learned in kindergarten. | ||
| Well, everything we need to know about politics, we learned in The Godfather. | ||
| You're exactly correct. | ||
| That's one of the greatest scenes in movie history. | ||
| But bringing it to real life, it is the negotiating leverage position that Speaker McCarthy has right now. | ||
| And that is why time is on our side. | ||
| We earned this right via the voters. | ||
| The voters have given a mandate to the GOP House to get the economy back on track, to get us to a place of fiscal sanity again. | ||
| We have 21 straight months of declining, crashing real wages, meaning your income adjusted for the cost of the goods and services that you need in your life. | ||
| Americans are working harder to get poorer every single day as a consequence of terrible fiscal decisions from Washington, D.C. Permanent Washington has gotten away with this for decades, largely because the Federal Reserve was repressing interest rates. | ||
| That is no longer the case. | ||
| That is no longer possible in the inflationary era that has been unleashed by Joe Biden. | ||
| And so now it is time for us to come to the table with leverage And act like Michael Corleone and say, our offer is this nothing. | ||
| We are not increasing the debt ceiling. | ||
| Now, if you want to talk Turkey, if you want to get real about where we can cut spending, where we can cut borrowing, and what priorities matter to this country, such as securing the border, Pretending that the United States is an actual country with sovereignty and with rules and order, with law and order at the southern border, that is one way, for example, that we can get to a place where we can talk about extending the debt ceiling. | ||
| But to your point, Steve, the onus, the burden of proof, effectively, is on the White House. | ||
| If they want to continue to spend this way, it's on them to decide, are they going to shut the government down? | ||
| And if they're going to do that, how will they prioritize payments? | ||
| And they need to present that to the American people. | ||
| There's Senator Pat Gary in that regard. | ||
| By the way, two pieces, one up in Bloomberg today, we haven't had a chance to get to. | ||
| About 2.6 million low-income earners are just kind of Off of any kind of the calculations on unemployment, they've just quit looking and gone. | ||
| Also, the Daily Mail, and I have it up on Getter, millions of formerly working class or middle class men have fallen into despair because they can't find jobs. | ||
| And now the suicide rates are out of control, all that. | ||
| That ties back to fiscal sanity. | ||
| And Cortez, the teaching moment we're going to have over the next couple of months is actually look at the entire system and where the money's spent. | ||
| Zelensky goes to, he's videoed in his wife the supermodel or the Vogue cover girl. | ||
| She's over there saying we've got to unite and give more money. | ||
| He drops the bomb yesterday, last night I think it was, that they're going to take back Crimea. | ||
| And I think is the New York Times saying the Biden administration is actually working on, and this shows we put $100 billion in there. | ||
| We're talking about putting $100 billion more. | ||
| The rebuilding of the country, I'm hearing now it could be $3 trillion. | ||
| You know, it was $750 billion. | ||
| It looks like for us, because the Europeans don't want to pony up any more cash. | ||
| They want the United States to do it again. | ||
| This is the whole point of this debt ceiling conversation, is to find out we just don't have the ability to continue. | ||
| They talk about sustainability in the environment. | ||
| This financial model is not sustainable. | ||
| It's only sustainable if the American citizens say, yes, it's okay for the Federal Reserve to continue to print money and have the wealthiest 1%. | ||
| Concentrate more and more assets. | ||
| If that's what we want, hey, that's what's going to happen because that's what they want to have happen. | ||
| Talk to me about expanding this madness. | ||
| How about fiscal sanity? How about national security sanity to take Crimea back from Russia? | ||
| By the way, if the Ukrainian people want to do that, I've got no problem. | ||
| I'm a nationalist. I've got no problem. | ||
| If the Europeans want to back them up and write that check and do everything they want to do, I get it. | ||
| But as people, hey, deal us out, Steve Cortez. | ||
| By the way, to that point, you mentioned the Europeans, okay? | ||
| If this really matters to Europe, and I'm not even sure that it does, but that's up to Europe to decide, okay? | ||
| If this matters to Europe, this struggle in eastern Ukraine, then the Europeans, these incredibly advanced nations, nations that we saved and helped rebuild twice after World War I and World War II in the last century, these nations should step up, France and Italy and Germany, and fund it and take care of their own neighborhood. | ||
| Steve, we have spent north of both what has already been spent as well as what is now planned, north of $100 billion. | ||
| That is more than the entirety of Europe has spent on this Ukrainian struggle. | ||
| It's also more, by the way, than the entirety of the Russian defense budget. | ||
| The entire Russian military budget, we are spending more than that on this proxy war against Russia in Ukraine, even though there's no discernible, no definable U.S. vital national security interest at stake there. | ||
| We're going to do Davos in the second hour. | ||
| Are you looking at Davos? It looks pretty nice, doesn't it? | ||
| Nice. They got nice health care. | ||
| Everybody's got health care. That's because you're the suckers paying for everything else because of these guys up here on Capitol Hill. | ||
| Let me bring in Brett. Brett, today's kickoff for the debt ceiling. | ||
| Give us your overall... | ||
| You've been very focused on this for the last six months or so. | ||
| Give us your initial thoughts, sir. | ||
| Yeah, well, if you just scan the headlines, it's all about this economic catastrophe that's going to take place and the full faith and credit of the US government. | ||
| I hate to point it out to all the geniuses, but we're already in a financial crisis. | ||
| We're $32 trillion in debt, and everybody knows we're going to default, right? | ||
| You're going to either default by running inflation to pay it off, but what they'll never remember, the left is supposed to have feelings and care about children. | ||
| Every kid is $125,000 in debt when they're born. | ||
| That's $320 trillion divided by the population. | ||
| Every worker is $250,000 in debt right now. | ||
| And they're talking about a financial crisis? | ||
| Hello, folks. | ||
| We are there. And this is just theft from the next generation. | ||
| We just spent $32 trillion. | ||
| We spent it. Now we got to pay it back at 5 % interest. | ||
| Oops. That's about $1.5 trillion just for interest payments. | ||
| I think the military complex is about $800 billion or a trillion. | ||
| I've heard you price it in that ballpark. | ||
| We got interest on the debt coming in place. | ||
| You're right. Where's the accounting? | ||
| Where's the education moment? | ||
| Better yet, what I'd love to see is Congress haul in the smartest CEOs in the world. | ||
| Call in the top Fortune 500 guys. | ||
| Call in the head of Morgan Stanley. | ||
| and ask for these brilliant people to ask for solutions. | ||
| There's an easy solution that we can hit tomorrow to avoid all the pain and headaches, all the full faith and credit. | ||
| Thomas Massey had the solution. | ||
| I'm stealing his idea with a footnote. | ||
| Just do a CR. Fund the government right now. | ||
| Put in the vote. McCarthy, Speaker McCarthy. | ||
| Do a CR. Give the budget a 10 % haircut off the most ridiculous omnibus funding level. | ||
| That's still high. | ||
| Give it a 10 % haircut. | ||
| Fund the government right now. | ||
| There's no crisis. | ||
| Then we can work out the details. | ||
| If you want to spend more than that, and that's what comes out at the end in June in the third quarter, as Russ Vogt said, okay, that's the democratic process. | ||
| But don't play these juvenile games that were in some financial crisis that we can't think our way out of. | ||
| And if the CEOs in the country got a better solution, I'm dying to hear it. | ||
| Yeah. I love Massey and I love the concept of it, but here I think the opening of Salvo, give them nothing. How about this? | ||
| Embrace the suck. It's your problem. | ||
| We want to see your model and we want to see it tied together. | ||
| I want to see the financing source of the Fed. | ||
| I want to see the model tied to the Fed of the $9.5 trillion over there. | ||
| Also, we're really going to have a discussion about... | ||
| What's the real face amount of the debt with the Social Security? | ||
| Because remember, we take the money that's supposed to go to Social Security, we just skim that off to pay current bills. | ||
| The whole thing's a scam. | ||
| It's a total scam. | ||
| Remember, the most progressive president in American history, Barack Obama. | ||
| Right? He was the one after the 08 crisis to let the Wall Street guys just take the Federal Reserve's balance sheet and blow it up from $880 billion to $4.5 trillion. | ||
| That liquidity went to the top 1%. | ||
| Before the pandemic, the greatest concentration of wealth in the nation's history came on the watch of Barack Obama. | ||
| They had a book written about it called Confidence Men. | ||
| And in the Confidence Men book, they go, Barack Obama's like Jack Kennedy. | ||
| Jack Kennedy had to have, they had to tell him the difference between fiscal and monetary because he kept forgetting it all the time. | ||
| Remember, he was a history major at like Harvard. | ||
| No, seriously, they had to say, no, the monetary is the money and the fiscal is like the budget, right? | ||
| Obama's the same way. They talk about sitting in meetings. | ||
| He had no earthly idea. He's a constitutional lawyer. | ||
| He has no earthly idea what they're talking about. | ||
| This thing stemmed from top to bottom. | ||
| It's a con. It's an absolute con. | ||
| And here's the thing, and here's the beauty of it. | ||
| I want this audience to get a full belly full of this. | ||
| Over the next couple of weeks, you are the problem. | ||
|
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The extremist. These burn-it-all-down extremists. | |
| No. We have a solution. | ||
| But we're not going to put it out there yet. | ||
| Show us the model first. | ||
| I want them to commit like a company does. | ||
| Here's our financials. Here's what it actually looks like. | ||
| Because if they don't do that, you're never going to have a real conversation. | ||
| They're so slippery. They're so cunning. | ||
| They're so devious. | ||
| And let me say it. | ||
| They're so evil. | ||
| Okay? This is where you lance the boil. | ||
| And when you lance a boil, a lot of pus comes out. | ||
| There's going to be boils lanced all over here. | ||
| And there's going to be a lot of pus. | ||
| But we know the war room posse can take it. | ||
| But strap in. You're going to be called everything. | ||
| You're bringing down the world economy. | ||
| You. You at home. Short break. | ||
| Brad, Cortez, Benzman. | ||
|
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| Last night we had Rudy. I thought Rudy was going to give us some big reveals. | ||
| It was amazing stories, the mafia and Hollywood, everything like that. | ||
| I'm reaching out to Rudy today for his big reveals. | ||
| We'll make sure we get them, but we had, I think, 17,000, 18,000 people watching on live stream. | ||
| So it's an amazing tool. | ||
| I can use it. I'm an idiot. | ||
| That means you can use it. | ||
| Dave Bratt, would you be open inviting Cortez and Bannon, two Catholics, down to Liberty at the business school to teach all the business lessons learned by Godfather? | ||
| Do you teach the Godfather movies as a business tool down there, sir? | ||
| Yeah, you're always welcome. | ||
| We love everybody. | ||
| We teach the Godfather via Genesis 3, the fall of humankind. | ||
| And you as the Oxford Don, of course, know the distinction Hume brought to us of the is versus the ought in ethics. | ||
| And so, you know, a descriptive piece on the Godfather is the way the world is, certainly not the ought. | ||
| We might prefer the Sermon on the Mount there. | ||
| God, that's why your kids will get a grade. | ||
| I tell you, I can't speak highly enough about Liberty. | ||
| Every parent ought to check it out. | ||
| With thinking like that is exactly what we need now. | ||
| By the way, I'm going to get Ben's in here a second. | ||
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| Let me go. So Brad and Cortez have been talking about different aspects of a deal. | ||
| One is you have to have the sovereignty of the country. | ||
| Benzman, you're now the superstar over at Daily Mail. | ||
| Talk to me about today, about your big piece, big exclusive at Daily Mail, about the sovereignty of the United States of America, sir. Well, just a few years ago when Donald Trump was in office, The human rights crowd and the American media establishment were tearing their hair out over this train down there, the freight trains in Mexico, the beast. | ||
| Trump's tough policies were forcing all the immigrants to get on these trains and they were dying and they were all coming forced to somehow circumvent Trump's tough policies and it was used as an argument, as a cudgel to to remove Trump's policies, to make them more lenient. | ||
| But since Biden came into office, the beast train is roaring at full throat. | ||
| I went to Monterey, Mexico just a couple weeks ago and came back with that video and my report today finally out in the Daily Mail that nobody's reporting anymore now that the border's wide open under Biden. | ||
| These trains are mainlining Thousands, tens of thousands of illegal immigrants to our borders. | ||
| And when Biden was down there talking to Obrador, the president, just recently, none of this came up. | ||
| The administration, if they ever want to, or Republicans in the House ever want to start banging their table about this, they would demand that Mexico shut this down. | ||
| But what I found instead was they like it. | ||
| It's wide open. The human rights crowd, the Democrats, everybody loves that these trains are coming out now and there's no media coverage anymore that these things are hauling all these people to our border. | ||
| One more thing is just a few years ago when President Obama had a migration crisis that was a tiny one compared to this, He went to Mexico and said, hey, shut those trains down. | ||
| They raided them. | ||
| They had the military down there. | ||
| They shut that down and they deported everybody they found on those trains. | ||
| Today, what I found is nobody cares. | ||
| It's blinders. They're just letting everybody on these trains. | ||
| There's no cops. There's nothing down there at all to stop this migration. | ||
| And it's because, well, it works for us now. | ||
| The borders are open. So I thought it would be worthwhile to finally go down there and report on the beast. | ||
| I think I may be the only one to report on La Bestia. | ||
| Cortez, this gets to the conversation you feel we have to have because Biden went down there and there was really nothing about the invasion on the southern border. | ||
| It was pretty shocking. This is the conversation you want to drive in the whole debt ceiling negotiations is stop the game. | ||
| Stop funding the NGO. Look what we're paying for. | ||
| We're paying for the invasion of our country. | ||
| We're paying all the NGOs and Berquam and Oscar and Jan are down there. | ||
| They'll be reporting this afternoon. | ||
| I think they're down with one of the tribes in the Darien Gap. | ||
| It's a complete scam, is it not Cortez? | ||
| And this is what we have to, a forcing function to have a discussion on the sovereignty of the nation, sir? Correct. | ||
| This is the forcing function. This is the pressure point. | ||
| By the way, not only did Biden not press the Mexicans to work with us to secure the border, quite the opposite unfolded down there in Mexico City. | ||
| President López Obrador actually thanked Joe Biden, if you remember from this video, thanked him for not building any border barriers, for not building any wall, and said he was the first president and many U.S. presidents who hadn't done so. | ||
| Well, We don't want to be thanked for a lack of border security. | ||
| We don't want to be thanked by the Mexican president or by the Mexican cartels, even more importantly. | ||
| But yes, to connect the dots and bring these two issues together, we cannot increase the debt ceiling, Unless Joe Biden finally agrees to do his job, his most fundamental and first task, the first task of any political leader, law and order, securing the sovereignty of our country, the safety and the financial well-being of the citizens of the United States. | ||
| If he is not willing to prioritize citizens over illegal migrants, then we can have a discussion about increasing the debt limit. | ||
| That's just the reality. | ||
| We're going to tie it all together in the next hour. | ||
| Davos is saying, oh, it's the climate crisis is causing mass immigration, and you're just going to have to live with it, that they're climate migrants. | ||
| You're going to have to live with it. We've got RAV has a team of Ben Burquam and Oscar Blue Ramirez, and now Michael Yan is down actually in the Darien Gap with some of the tribes there. | ||
| We're going to go also... Live to Davos, but I'm going to keep our three guys, Brant, Benzman, and Cortez, because the meltdown is not just the fact that we're going to have this massive negotiation on spending, the size of government, the administrative state, the Federal Reserve, all of it in this debt ceiling. | ||
| People are on fire on homeland security, on judiciary, on oversight. | ||
| The left is melting down about who's manning up to be on these committees. | ||
| All next in The War Room. | ||
|
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