May 16, 2025 - Bannon's War Room
48:55
Participants
| 
| Speaker | Time | Text |
|---|---|---|
| It's pretty sad that this is what it takes. | ||
| He should be under investigation for much more serious stuff than this. | ||
| I don't know what the Justice Department, the FBI, what's the slowdown? | ||
|
unidentified
|
I don't know. | |
| He's a criminal. | ||
| He's a criminal. | ||
| It doesn't take him playing with seashells to say, oh, we ought to investigate his seashells. | ||
| He's got much deeper crimes against this country, and particularly President Trump. | ||
| Lying to the FISA court. | ||
| That alone, that alone should land him behind bars. | ||
| Steve Bannon. | ||
| Love you, brother. | ||
| We'll find some other games. | ||
| Eric, have a great weekend. | ||
| Make sure you update us on the Diddy trial. | ||
| Go to my website. | ||
|
unidentified
|
We're covering the Diddy trial. | |
| I can't say some of the things here on TV they can say over there. | ||
| That's where that lives, Steve. | ||
|
unidentified
|
Good to see you. | |
| Have a great weekend, my friend. | ||
| Bowling, what is your website? | ||
| What's the website? | ||
|
unidentified
|
EricBowling.com I might check it out this weekend. | |
| Yes, sir. | ||
| Brother, thank you so much. | ||
| You want to catch up on that, didn't he? | ||
|
unidentified
|
I know. | |
| Come on, Bannon. | ||
| You still rock my world with the thousand bottles of baby oil or whatever it is. | ||
| My world is rocked. | ||
| The visual will never leave you. | ||
| Deport, deport, mad dog, just write this down. | ||
| Deport, deport, deport. | ||
| Speaking of... | ||
| The Supreme Court dropped a Friday afternoon bomb. | ||
| We're going to have the vice chair here in a second. | ||
| But also, as we told you, the big, beautiful budget did not get voted out of committee. | ||
| There's changes. | ||
| They're going to be working all weekend. | ||
| Let's go ahead and play a cold open. | ||
| Then we'll bring in the Mike Davis. | ||
|
unidentified
|
Breaking news. | |
| A bill full of President Trump's key priorities is facing an uncertain future after Republicans failed to advance it out of committee. | ||
| And that's despite pressure from the president himself. | ||
| Several hardliners had announced their opposition, saying they want changes to key elements of the bill, like Medicaid work requirements. | ||
| Hey, for the members, listen up. | ||
| I do not anticipate us coming back today. | ||
| I've had some questions. | ||
| I know most of you are trying to get home. | ||
| Go home. | ||
| I'll let you know this weekend if we're going to return first day Monday. | ||
| I think that's the goal at this point. | ||
|
unidentified
|
But just know that the weekend is yours and your family's, okay? | |
| Well, according to GOP hardliner, Texas Congressman Chip Roy, the bill just didn't meet the moment. | ||
| This bill falls profoundly short. | ||
| It does not do what we say it does with respect to deficit. | ||
| We are writing checks we cannot cash, and our children are going to pay the price. | ||
| So I am a no on this bill unless serious reforms are made today, tomorrow, Sunday. | ||
| We're having conversations as we speak, but something needs to change or you're not going to get my support. | ||
| So, Jake, how big of a deal is this? | ||
|
unidentified
|
Massive. | |
| I mean, there's no other way to put it. | ||
| This is the hardline right rejecting the centerpiece domestic agenda of the president of the United States, period. | ||
| And the big problem is, Katie, they are asking, just like Chip Boyd says, we're writing checks we can't cash. | ||
| The right is asking for, is making demands that Speaker Johnson cannot agree to. | ||
| Can't. | ||
| He can't. | ||
| He cannot because he has a dozen or so, maybe a few less, lawmakers who are moderates who are not going to agree to things. | ||
| Just not going to agree. | ||
| To be in line with the hard line right. | ||
| And they've already gone a long way. | ||
| They are right now. | ||
| They're going to expedite work requirements. | ||
| They're going to they're asking for deeper cuts into the IRA, the Inflation Reduction Act, which was passed under under Joe Biden and is popular with some Republicans around the country. | ||
| This is a huge deal because I've. | ||
| I wondered on your air and in our newsletter whether there is a sweet spot between the hard line right and the middle of the conference. | ||
| And right now, I don't know the answer to that. | ||
| I still think they find a way to get it done. | ||
| The budget committee, and we just broke this news, is going to reconvene Sunday night at 10 p.m. | ||
| That is in order to kind of get the week started early so they can go to the rules committee if they have a deal and get it to the floor later in that week. | ||
| This is just, it reminds me, I think I said this a couple days ago to you, Katie, it reminds me of the Build Back Better bill. | ||
| Too big, too many things going on, too much for Congress to swallow. | ||
| And again, this is like a tough vote for moderates. | ||
| This is taking away things from a lot of people. | ||
| It's just not great politics for a huge swath of the Republican conference. | ||
| Can I just linger on one thing you said a moment ago? | ||
| They want to cut more from the Inflation Reduction Act, which is what came out of the Build Back Better bill. | ||
| Democrats got on board. | ||
| It was a lot of money. | ||
| A lot of money for some big initiatives. | ||
| Why are some Republicans against cutting that? | ||
| What happened? | ||
| Or what did they get out of this bill? | ||
| I seem to remember moments where Republicans who voted against it went back home and touted projects that were funded by this bill as if they voted yes for them. | ||
|
unidentified
|
Bingo! | |
| These projects are up and running in their districts. | ||
| Companies have made investments around the country based off tax credits and other policy provisions that are... | ||
| That, you know, are still in law and they don't want to gut them. | ||
| I mean, it's as simple as that, Katie. | ||
| And, you know, right now these tax credits phase out over a period of time. | ||
| They would like them to stop today. | ||
| You know, or whenever the bill is passed, they'd like them to stop now, and that's just not feasible. | ||
| And by the way, I'll say this again, and I sound like a broken record. | ||
| The Senate still has to deal with this bill, and it gets more complicated for the hardliners when it gets to the Senate, because a state like West Virginia, which has 700,000 people on Medicaid and has a lot. | ||
| Thanks to Joe Manchin, of IRA money around the state. | ||
| It's going to be very difficult to do the things that these conservatives over here in the House want to do when it gets to the Senate, when you have, you know, more complicated political calculuses. | ||
| We do have breaking news from the Supreme Court as we come on the air. | ||
| The justices weighing in on President Trump's use of the Alien Enemies Act. | ||
| Let's get straight to CNN chief legal affairs correspondent. | ||
| Paula Reid. | ||
| Paula, what are we learning? | ||
| So, Casey, this is a loss for President Trump, but this is not the final word. | ||
| We know that he wants to speed up deportations. | ||
| And as part of that plan, he has invoked the Aliens Enemies Act, which allows him to proceed with deportations with less review than he would otherwise. | ||
| Of course, this is set off litigation across the country. | ||
| And here today, the Supreme Court has blocked the president from moving forward with deportations under this act for a group of immigrants in northern Texas. | ||
| So he's siding with a group of Venezuelans in Texas who were worried that they were going to be imminently removed under this authority. | ||
| So he's taking this issue and he's sending it back down to the Fifth Circuit Court of Appeals to decide certain questions, important questions here, particularly about how much notice these individuals received in terms of the process that they are due. | ||
| This is one of the issues that has come up in a lot of these cases. | ||
| Now, while this is again a significant loss for the president, this is temporary. | ||
| And this underlying legal fight continues to play out across the country. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies, because we're going medieval on these people. | ||
| I got a free shot on 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've tried 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? | ||
|
unidentified
|
MAGA Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
|
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
|
War Room. | |
| Here's your host, Stephen K. Band. | ||
| Friday, 16 May, Year of the Lord, 2025. | ||
| Even as Bowling and I were doing the turnover, the blockbuster news coming out of the Supreme Court was topped. | ||
| Moody's downgraded the United States credit rating on the increase in government debt. | ||
| We told you this was coming. | ||
| The bond market's going to get a vote here. | ||
| Moody's rating slashed the United States credit rating down a notch on Friday, citing the budgetary burden the government faces amid higher interest rates. | ||
| This one-notched downgrading reflects the increase over more than a decade in government debt interest payment ratios to levels that are significantly higher than similarly rated sovereigns. | ||
| The rating said, the U.S., I continue to quote, the U.S. is running a massive budget deficit as interest costs for Treasury debt continue to rise due to a combination of higher interest rates and more debt to finance. | ||
| Where have you heard this? | ||
| The fiscal deficit totaled... | ||
| Over $1 trillion to date, 13% higher than a year ago. | ||
| 13% higher than a year ago. | ||
| Okay, we're going to get more of that later in the show. | ||
| Moody's up on a Friday afternoon dumps. | ||
| Now you get a credit rating downgrade, which means you're going to pay higher interest rates in these government bonds that you're going to have to sell. | ||
| This is why this is intrinsically linked with why the conservatives said we've got to get our arms around this budget crisis. | ||
| Mike Davis, what in the hell is going over in the Supreme Court? | ||
| Make this make sense to me, sir. | ||
| The Supreme Court is doing a supreme punt with this Trendy Aragua case. | ||
| Remember, four weeks ago, on Good Friday, the Supreme Court illegally, unconstitutionally issued an injunction against the President of the United States as he's commanding military operations to expel Foreign terrorist working with foreign governments. | ||
| Trendy Aragua working with Venezuela along with MS-13 gangbangers. | ||
| And the Supreme Court issued an illegal injunction against the President of the United States without a district court ruling, without 85th Circuit Appellate Court ruling, without even a solicitor. | ||
| general brief. | ||
| And if you read this muddled mess of a decision from the Supreme Court today, in this 7-2 decision, with all three Trump justices joining the three liberal women, along with the chief justice, so the four liberal women, you see General brief. | ||
| That they're learning the hard way that being generals, moonlighting as generals, is hard work with Commanding General John Roberts and his six lieutenant generals. | ||
|
unidentified
|
They're learning the hard way that legislating from the bench is hard work. | |
| Slow down. | ||
| Slow down. | ||
| We had Alito. | ||
| He told me we have Alito and Thomas, right? | ||
| We had the two good guys. | ||
| Everybody else voted 7-2. | ||
| This is not a close one, Viceroy. | ||
| Well, it's not a close one, but if you actually look at what they did, it is a punt. | ||
| Let me read you from Justice Kavanaugh's concurrence, because this is important. | ||
| This is what you call a supreme punt. | ||
| I understand and agree with the court's decision to grant a temporary injunction. | ||
| The injunction simply ensures... | ||
| That the judiciary can decide whether these Venezuelan detainees may be lawfully removed under the Alien Enemies Act before they are in fact removed. | ||
| The underlying legal questions that the courts may need to decide before the removals occur include, number one... | ||
| Whether the Alien Enemies Act, as distinct from the ordinary removal process under the Immigration and Nationality Act, authorizes removal of these detainees. | ||
| And number two, if so, what notice is due before removal? | ||
| That's from the concurrence in the 72 ruling. | ||
| And the majority goes out of its way to say the government may remove the named plaintiffs or putative class members under other lawful authorities. | ||
| They are trying to get out of this case. | ||
| They sent it down to the Fifth Circuit for the Fifth Circuit to decide these issues. | ||
| Instead of just deciding it themselves, that got Justice Kavanaugh's criticism. | ||
| They are trying to get out of this case as quickly as they can. | ||
| So this is going to go down to the Fifth Circuit for the Fifth Circuit to figure out. | ||
| Whether Trump can boot these trendy Aragua terrorists under the Alien Enemies Act, which they clearly can. | ||
| And then number two, how much notice is due. | ||
| Can he do it in 24 hours? | ||
| Or does the Supreme Court, they need to take off their general uniforms and put on their senator suits and figure out. | ||
| How they're going to rewrite the Alien Enemies Act from the bench. | ||
| Is it going to be three days, 21 days? | ||
| At the end of the day, the Supreme Court's going to punt on this. | ||
| What do you mean? | ||
| Should Trump continue to send people out of the country? | ||
| Or is this freeze means he's going to stop and go full stop until this goes back to the Fifth Circuit and works his way back up? | ||
| In other words, we're not going to be shipping any bad guys out of here? | ||
| No, what it means is that Trump can't expel foreign terrorists who have invaded our country under the Alien Enemies Act somehow until the Fifth Circuit decides this on an expedited basis. | ||
| and then the seven ladies on the Supreme Court take off their general uniforms, put away their legislative pens and put on their big boy pants and actually decide this case on the merits. | ||
| I know that, you know, being a general is tough, being a legislator is tough, but maybe they can just go back to old-fashioned judging and do their job and get this resolved. | ||
| They should have done it now, but they don't have the courage to do it now. | ||
| They want to punt to the Fifth Circuit so the Fifth Circuit can do their dirty work. | ||
| I imagine the Fifth Circuit's going to say, okay, our seven ladies... | ||
| Our seven women bosses on the Supreme Court think we need to have notice here. | ||
| So they're going to come up with an arbitrary number, three days, seven days, 14 days, 21 days, however many days it takes to get five votes on the Supreme Court from the seven women, and then that's going to resolve this case. | ||
| Hang on one second, can you? | ||
| I know you got a punt, but I just need to hold you briefly on the side. | ||
| Two blockbusters, a downgrade to U.S. debt. | ||
| And the Supreme Court blocking the Commander-in-Chief all on a Friday afternoon in May. | ||
|
unidentified
|
I think we're going to get a little turbulence. | |
| Government security has got downgraded. | ||
| One downgrade by Moody's. | ||
| I guess we'll be looking at S&P on Monday. | ||
| We're going to play a clip of the bottom of the hour. | ||
| Another bombshell. | ||
| The Supreme Court's not having President Trump's back. | ||
| On the deportation of the worst of the worst. | ||
| How do you think it's going to play for the 10 million? | ||
| Told you this was coming. | ||
| Told you both of them were coming, folks. | ||
| These are the institutions. | ||
| Unbelievable. | ||
| Mike Davis, are you coming more my way? | ||
| Come on, brother. | ||
| D.C. Drainer and I have laid out President Lincoln's thing. | ||
| Are you coming more my way on let's just suspend the writ of habeas corpus and get on with it, sir? | ||
| Well, I'll tell you what I think is going to happen in this case, because the seven ladies on the Supreme Court didn't have the courage to decide the merits of the Alien Enemies Act, so they punted it down to the adults on the Fifth Circuit. | ||
| You're going to have the adults on the Fifth Circuit, based in Texas, make a ruling that, yes, the president can use the Alien Enemies Act to expel these designated foreign terrorists, Trendy Aragua, along with MS-13. | ||
| vicious international gangbangers. | ||
| And then it's going to come down to what arbitrary number the Fifth Circuit comes up with on the number of days that the Trump administration has to detain these people and give them notice before he can expel them from our country. | ||
| I can't imagine that, you know, if you have an invading army that you have to hold them... | ||
| Hold them prisoner and get the court's permission before the commander-in-chief can expel an invading army. | ||
|
unidentified
|
But, you know, we're dealing with Trump justices. | |
| The president depends upon or looks to you for a lot of guidance. | ||
| What's your recommendation? | ||
| Tonight when he gets off the plane at midnight after sorting out the mess of the Middle East, now he's got to come back to this. | ||
| A downgrade on U.S. debt. | ||
| Supreme Court at 72 doesn't have his back, including all three guys he appointed. | ||
| He's going to be in a lovely mood because I told you that's not a pleasant flight back. | ||
| He's getting into midnight. | ||
| What's your advice? | ||
| Because he's going to give you a call. | ||
| What are you going to tell him at midnight, sir? | ||
| Well, what's going to happen is this is going to get sent down to the Fifth Circuit. | ||
| The Fifth Circuit's going to largely side with President Trump. | ||
| They're going to make up some arbitrary number to, you know, seven days, 14 days, 21 days of notice to appease the Supreme Court justices, give them time to change their tampons, and then this thing is going to resolve itself. | ||
| So I would say to the President, just... | ||
| Just let's go through this process down to the expedited process down to the Fifth Circuit. | ||
| Let the adults on the Fifth Circuit rule the way they're supposed to rule. | ||
| You know, at the end of the day, I would say to these Trump justices, if you are deciding a case and you see Justice Thomas and Justice Alito on one side, and you see Justice... | ||
| Kagan and Justice Jackson and Justice Sotomayor and the Chief Justice John Roberts on the other side, and you go with the liberal camp, you're absolutely wrong every time. | ||
| You were wrong four weeks ago on Good Friday when you issued this lawless injunction against the President of the United States without a district court ruling, without an appellate court ruling. | ||
| Not a solicitor general brief. | ||
| Just admit that you're wrong here. | ||
| Have the modesty to admit you're wrong instead of punting this to the Fifth Circuit and letting the big boys on the Fifth Circuit clean up your work because you're too cowardly to do it. | ||
| Okay, brother. | ||
| Article 3, where do people go in your social media over the weekend? | ||
| This is going to be a hot one, I can tell. | ||
| Yeah, article3project.org, article3project.org. | ||
| You can follow us on social media. | ||
| You can donate only what you can afford and take action. | ||
| Here's the last thing, Steve. | ||
| Trump's going to pick more bold and fearless justices this time, people from the Fifth Circuit who are bold and fearless. | ||
| Amen. | ||
| I'd like to hear that. | ||
| We've got a fight on our hands now. | ||
| Thank you. | ||
| This is the constitutional crisis we're hurtling towards, folks. | ||
| Told you this was coming. | ||
| Just like this turning of the earth. | ||
| Same with this downgrade because we've got too much debt and no plan to cut it. | ||
| Mike, thank you so much. | ||
| Explosive. | ||
| On a Friday, late in a Friday, Dave Brat's going to join me. | ||
| He's getting his camera set up. | ||
| I want to go to George Simeon. | ||
| George, we're moments away from you being able to not campaign anymore because you have a day of silence prior to the Sunday vote. | ||
| Where do we stand as you wrap up your campaign, sir? | ||
|
unidentified
|
Yes, it's over midnight here. | |
| At the next hour we won't be able to campaign, so I'm using every minute, every second. | ||
| We are winning this. | ||
| It will be a landslide. | ||
| The only problem we are having is with the Macron interference, the French interference. | ||
| They ordered the Romanians in the Republic of Moldova, the government there, to bring as many people with Romanian citizenship as possible. | ||
| So now they are voting three times they ever voted ever in their history, but it's only 50,000 votes. | ||
| If they will only fraud with 50,000 votes, there's no chance in hell they will win. | ||
| We have about 100,000 people watching, observing from our side all polling stations. | ||
| We are very careful. | ||
| The voting process started early this morning when I was in France, in London, in Washington, in New York, in Paris. | ||
| The Romanians abroad can already vote. | ||
| Here in Romania, we are starting the voting process at 7 o 'clock in the morning on Sunday. | ||
| So basically, it will be a landslide if no frauds occur. | ||
| We take very seriously the threats of our interim prime minister, which is also the Ministry of Internal Affairs, who ordered the police and some special services they have. | ||
| To check our phones, to enter in our messages. | ||
| They will not find anything there except a clean campaign that is taking the Romanian voice and is making the will of the people become law. | ||
| We will have the presidency and we will have the next government in Romania and starting with Romania we will win in Poland and other important EU countries. | ||
| Why is Macron taking such a special interest in this? | ||
| I mean, he's more active than your opposition in Romania. | ||
| Why is that, sir? | ||
|
unidentified
|
Yes, actually, Macron came up today to the Romanian media and said he's supporting my opponent, the mayor of Bucharest. | |
| They want to bash... | ||
| The Trump administration, they want to meddle with our elections in order to avoid having a MAGA president in Romania, because this will turn into a wave of victories for Donald Trump in Europe. | ||
| So this is one reason. | ||
| The second reason is that I am representing Romania in the European Council. | ||
| And again with Viktor Orban, with Robert Fico of Slovakia, with the future government in Poland and with Georgia Meloni. | ||
| We will veto many of their crazy proposals and the era of the globalists in Europe will end. | ||
| I see Barack Obama is also going to Polish elections and is campaigning for the other guy, the mayor of Warsaw. | ||
| I was there to support our MAGA guy, Karol Navrotsky. | ||
| I know your social media has got to be quiet tomorrow, but people are going to pick it up early Sunday morning. | ||
| Where do people go to follow you when you're back online, sir? | ||
|
unidentified
|
So, on X, you can find me for the international audience, Giorgio Simeone. | |
| It appears on your screen. | ||
| And the most popular social media networks in Romania, 1,500,000 and 1,600,000 followers are TikTok and Facebook. | ||
| You can find the latest in Romanian on Facebook and on TikTok, Giorgio Simeone. | ||
| And for the international audience, this X account. | ||
| George, you've got the entire MAGA movement here in the United States pulling for you, sharing your clips being a forced multivirus. | ||
| So go with God. | ||
| You've got a lot of people in the back of you, sir. | ||
| And the sovereignty movement in Romania should know that we've got your back. | ||
|
unidentified
|
Thank you. | |
| God help us. | ||
| And Sunday you will rejoice. | ||
| You can have parties there in the States because we are winning this one. | ||
| Thank you, sir. | ||
| You're a brave individual, and that's what it takes. | ||
| George Simeon, put in a very tough spot. | ||
| They stole the election that these guys won, what, six months ago, the EU. | ||
| And look at Macron. | ||
| These globalists out of Davos can't help themselves. | ||
| They're there. | ||
| And Barack Obama, we had Posobiec on today. | ||
| I want to thank all our folks in Poland that got that to me. | ||
| We had a big, you know, one of these big investment conferences where all the big shots come, and tech, and sure, this is the future. | ||
| It's going to be great. | ||
| Barack Obama paid him a million bucks. | ||
| To go over there. | ||
| Stick his nose in that. | ||
| These people are adamant. | ||
| They hate Orban. | ||
| They hate the sovereignty movement in Poland. | ||
| They hate George Simeon and everybody related to the sovereignty movement in Romania. | ||
| And they understand that's the frontline nations regarding Ukraine. | ||
| They're trying to put Le Pen in jail. | ||
| They're trying to put Bolsonaro in prison. | ||
| They're trying to put Trump in... | ||
| Hey, this is my thing about Comey and the seashells? | ||
| Come on, man. | ||
| Where's the investigation of this guy from the very beginning? | ||
| Where's the Comey? | ||
| Comey, I can name a dozen crimes of Comey in the FBI under Comey. | ||
| Where's the investigation of that? | ||
| Don't give me the seashells. | ||
| Seashells come late. | ||
| Yeah, seashells, you should be investigating, no doubt. | ||
| But that's the problem. | ||
| This deep state's running the deal. | ||
| Look at who they've gone up to Le Pen. | ||
| They've gone up to Bolsonaro. | ||
| They've gone up to an alternative for Deutschland. | ||
| They stole the election in Romania. | ||
| They tried to put Trump in prison for 700 years. | ||
| Ridiculous. | ||
| A lot of news on a Friday afternoon. | ||
| We told you the Supreme Court told Trump, yeah, well, you're not really Commander-in-Chief. | ||
| We got a couple ideas about that. | ||
| We have a few notes we want to give you on what you're doing. | ||
| No notes. | ||
| President Trump, I think we're coming to the point. | ||
| I realize other people have other recommendations. | ||
| I think we're coming to the point that Lincoln came to his chief justice. | ||
| Just saying, habeas corpus, maybe not. | ||
| Short break. | ||
|
unidentified
|
Headline that crossed in just the past half hour or so. | |
| We learned that the U.S.'s last AAA rating is gone. | ||
| Moody's has downgraded the U.S. So Moody's is following S&P 14 years later. | ||
| Obviously, Fitch did it as well. | ||
| I don't necessarily think that there's much of it. | ||
| Treasuries are still dealing, though, with the fundamental factor of less foreign demand for them and the growing size of the pile of debt that needs to be constantly refinanced. | ||
| is not going to change. | ||
| But it is symbolic in the sense of here's a major rating agency that's calling out the U.S.'s strained debts and deficits I don't know if that's enough to sort of change the negotiations currently right now in Washington. | ||
| I think more impactful would be if the 10-year yield really started to spike. | ||
| Like what we saw in the UK a couple of years ago. | ||
| But I don't think we should ignore it. | ||
| But on the other hand, I don't know how much of an impact it's going to have on the actual levels right now in the tenure, for example, with that being the benchmark. | ||
| He's 100% correct about the tenure. | ||
| We continue to watch it. | ||
| Although it has been a mini spike, folks, you'll notice in your credit card now, when he said the buried lead, I'm going to give you a buried lead. | ||
| Ready? | ||
| Less foreign demand. | ||
| That means the Fed's going to be making up the hocus pocus. | ||
| We're buying it ourselves. | ||
| Today also announced I didn't get a chance to talk about this. | ||
| Correct me if I'm wrong, my young charge who thinks he's a financial, thinks he's the young J.P. Morgan. | ||
| Today I think it was announced that the United Kingdom is now the second largest holder of U.S. government bonds in back of Japan. | ||
| I think the Chinese have been, how do you say, offloading a couple of three. | ||
| I think at nearly $800 billion, right under a trillion dollars, that the UK is now the second lowest. | ||
| The buried lead right there, less foreign demand. | ||
| This is the whole thing about the budget deficit, you know, that we're going to talk about. | ||
| Brett's just out of hair and makeup. | ||
| He's going to be with us in a moment. | ||
| Birch Gold, take your phone out. | ||
| Text Bannon, B-A-N-N-O-N, 989898. | ||
| What do you get? | ||
| You get the ultimate free guide. | ||
| To investing in gold and precious metals in the age of Trump. | ||
| Learn yourself up on that. | ||
| Also go to the Rio Reset. | ||
| They're going to be licking their chops now. | ||
| They're saying, look at these downgrades. | ||
| They're going to be licking their chops in Rio. | ||
| July 6th, we're covering this thing wall-to-wall, the road to Rio. | ||
| The bad guys, that would be the criminal gang in Beijing. | ||
| All over us on how to get off the dollar as the prime reserve currency. | ||
| Not that we don't have to have a national debate for that, but you can't do that overnight. | ||
| Dave Brat, the budget committee votes this thing down. | ||
| They're now going to meet 10 o 'clock on Sunday. | ||
| I'm here to announce that the great Chip Roy, I think, is going to be with us tomorrow morning to start the show to talk about this, not talking about real cuts. | ||
| My wingman is going to be Dave Brat, who will even be better out of hair and makeup. | ||
| Dave, what do you got for us? | ||
| What is the signal that you've got the budget committee because you've got the budget deficit hawk saying these cuts are not nearly significant enough. | ||
| Then you get Moody's later in the day giving you a downgrade first time in 14 years. | ||
| Or 14 years, I should say, after I think S&P did it. | ||
| Yeah, well, the heroes on the Budget Committee are doing the right thing. | ||
| Moody's, they didn't downgrade us after the 0708 financial crisis. | ||
| It takes the Trump derangement syndrome for them to weigh in. | ||
| And the 10-year, you've been right on this. | ||
| You've been right on this. | ||
| And now it's come and due. | ||
| CNBC reported it first. | ||
| It popped up with them. | ||
| And, you know, they so, OK, you brilliant analysts. | ||
| What's the right call then? | ||
| Is the House Budget Committee, the members that are holding strong for cuts, are they the good guys? | ||
| What are you saying? | ||
| They don't say anything. | ||
| They're silent. | ||
| And at the end, they cannot restrain themselves. | ||
| They bring up the tariffs for no apparent reason. | ||
| We went over that big lie yesterday, right? | ||
| The blip is gone, right? | ||
| The markets are actually up. | ||
| And so Moody's, 14 years later, has finally decided to... | ||
| Say, oh, we got a problem with the debt. | ||
| And we've been on it all day on The War Room. | ||
| This morning, the show, there's no sign at all that we're going to be below a $2 trillion deficit. | ||
| In fact, all signs point higher. | ||
| The Wall Street Journal, Kim Strassel, shows the spending is going up. | ||
| Hang on. | ||
| Hang on. | ||
| I want you to suck on this for a moment. | ||
| This is the great Russ vote. | ||
| Russ just put this out. | ||
| Critics have attacked the House's one big, beautiful reconciliation bill on fiscal grounds, but I think they are profoundly wrong. | ||
| It is truly historic. | ||
| As a nation, we have had no spending cut victories of any consequence in nearly 30 years. | ||
| In 1997, the balanced budget agreement included roughly $800 billion in mandatory savings adjusted for inflation. | ||
| The current House bill includes $1.6 trillion in savings. | ||
| These are not gimmicks, but real reforms that lower spending and improve the programs. | ||
| The bill satisfies the very red-line test that House fiscal hawks laid out a few weeks ago that stated that the cost of any tax cut could be paid for with $2.5 trillion in assumed economic growth. | ||
| But the rest had to be covered from savings. | ||
| This bill exceeds that test by nearly $100 billion. | ||
| After nothing happened for decades, the House bill provides a historic $1.6 trillion in mandatory savings with a three-seat majority. | ||
| $36 trillion in debt is not solved overnight. | ||
| It is solved by advancing and securing victories at a scale that over time gives a fighting shot to addressing the problem. | ||
| The House's one big, beautiful bill deserves passage for many reasons. | ||
| Tax cuts, border security funding, eliminating the Green New Deal, work requirements to end dependency. | ||
| but it should not be lost on anyone. | ||
| The degree to which it ends decades of fiscal futility and gets us winning again. | ||
| It deserves the vote of every member of Congress. | ||
| As you know, Russ Vogt, one of our contributors here, and a great man. | ||
| Your response to a brat? | ||
| I hate to argue with the great Russ vote, but he's wrong on the big Green New Deal. | ||
| We went over that in detail this morning. | ||
| Politico lays it all out. | ||
| We got six senators hanging on to all of the green initiatives, and they don't go in place for six years. | ||
| And so Russ may be technically correct. | ||
| He's a Christian guy. | ||
| He doesn't lie. | ||
| But he's correct over a 10-year time frame, and that time frame is irrelevant. | ||
| Every trick in the book is being used. | ||
| Hang on. | ||
| Slow down. | ||
| I want to get this in the audience's mind for tomorrow morning, which we'll get into detail. | ||
| Maybe we'll get Russ on right after Chip. | ||
|
unidentified
|
I think that there's two kind of camps. | |
| Russ is looking at mandatory cuts, and this is why he wants to get the top-up for the defense, so you get that off so it doesn't come back every year. | ||
| Russ is looking at structural, the way to get mandatories down, and do it over a period of time, so you at least get on a glide slope indicator to start getting there, I believe, and prepare to trade off short-term. | ||
| Like, getting rid of the whole Green New Deal right away, making sure the mandatory requirements are not 29, but here. | ||
| We, on the other hand, I think you're in this camp, Brett, are saying, hey, we hear that that is good and a noble cause, and you are going to get some wins. | ||
| However, the central part of the argument here is what Moody's is talking about. | ||
| We are spending so far out of control with spending right now that we should just look at fiscal 26 and maybe 27. And because we're going to have a two-train dollar deficit this year because we didn't blow out Biden's. | ||
| This right here... | ||
| And you're, you know, assuming some growth rates, you're still at a $2 trillion deficit. | ||
| Is that the kind of tension here between people saying, no, we have to have massive cuts now and just going to have to bang through the politics versus those like Russ that are working on major and fundamental mandatory structural reforms that he's, I agree with him, that haven't been done in 20 or 30 years. | ||
| And this is what I keep saying, folks. | ||
| The farther we get down here, our range of alternatives are getting narrower and narrower. | ||
| And now with the 10-year Treasury, right under 4.5%, you've got to look at the bond market because they're going to get a vote. | ||
| And on Monday, all weekend, they're going to be talking. | ||
| And on Monday, they're going to have an attitude adjustment because of the Moody's. | ||
| Is that the two things we're dealing with here, those who want to cut massively now versus those looking for structural changes, sir? | ||
| Well, you're being far more Christian and diplomatic than I would be on this point. | ||
| I would say there are two camps, and it's the camps, it's political. | ||
| It's, are we going to do better than this, and do we just need to plug our nose because we can't take it and vote for this thing? | ||
| Or do we think we can do better on this bill in the short run and make major improvements? | ||
| The $1.6 trillion he listed. | ||
| Strauss went over it. | ||
| The moderates have eviscerated the $1.6 trillion in spending there. | ||
| I went over it this morning. | ||
| The 2017 bill had $1.5 trillion getting rid of deductions. | ||
| Now we've added a trillion in deductions for every special group under the sun. | ||
| And so for me, that's the choice. | ||
| And I think we can do better. | ||
| And I think President Trump... | ||
| The key point I forgot to make this morning is Trump's legacy also is at stake here. | ||
| If he knows what's going on here and that all of his gains are going to be wiped out in four or five years, we're giving all the good stuff away right now. | ||
| And then in five years, the reforms all kick in. | ||
| The medicine kicks in. | ||
| And we're not looking so hot. | ||
| And so, you know, I don't know when Russ made the comments, but I think it's just political. | ||
| Do you pinch your nose in order to get the tax cuts through? | ||
| And they will provide some economic growth. | ||
| We absolutely have to have the tax cuts, right? | ||
| You cannot. | ||
| Go forward. | ||
| And the debate is the nature of those tax cuts. | ||
| Who do they go to? | ||
| Are they supply side? | ||
| Are they going just to the covered interest crew? | ||
| Or are they going to the middle class and the capital piece? | ||
| I want to see it all go into capital. | ||
|
unidentified
|
Okay. | |
| I thank you for changing your day to come on to deal with this downgrade. | ||
| I will see you back here tomorrow. | ||
| I think we're going to try to get Russ on, Chip, a couple of people dealing with this thing. | ||
| Nothing could be more important for the direction of the country than that thing we talked about in the middle, the economic model and the financing of it. | ||
| Dave Bratt, where do people go? | ||
| And you're going to bring charts tomorrow. | ||
| He's just not going to come as a pretty face. | ||
|
unidentified
|
Charts tomorrow, yep. | |
| We're going to bring it right into real-time numbers, right? | ||
| So the American people can make their choice. | ||
| Wow. | ||
| Okay, brother. | ||
| See you tomorrow. | ||
| Dave, Brad. | ||
| By the way, where's your social media? | ||
| Where do people go? | ||
| Yeah, Brad Economics is on Getter and on X. Thank you, brother. | ||
| Appreciate you. | ||
| You bet. | ||
| Folks, you better appreciate what room where you got it. | ||
| There is a massive thunderstorm coming off the Potomac that is like thunder and lightning right over top of us here on Capitol Hill. | ||
| So if we go dark, it's not because we've got the plug pulled. | ||
| It's because of the storm. | ||
| But we're going to hang in there. | ||
| We've got Dr. Kim coming up next. | ||
| This is why the Friday show, you always got to be on top of things because these Friday night dumps and now two huge, huge developments. | ||
| The Supreme Court, as we told you, they're not going to have his back. | ||
| They're not going to have his back. | ||
| We are hurtling. | ||
| And Hammer said it today. | ||
| Josh, I think, laid it out. | ||
| Josh Hammer said, hey, Steve, we're not hurtling towards a constitutional crisis. | ||
| We're in a constitutional crisis. | ||
| And Hammer basically called what was going to happen. | ||
| They're not going to have his back. | ||
| Now they're going to send back to the Fifth Circuit. | ||
| At the same time, you have... | ||
| All these enemy terrorists and bad guys and criminals, this is all to make sure the $10 million never get deported. | ||
| What the hell do you think we're going to do on the $10 million when it comes to that? | ||
| This is a strategy in back of a judicial coup. | ||
| They have nothing on the political side, right? | ||
| Now that Rachel Maddow's retired again, they've got nothing on the media side. | ||
| They literally have nothing. | ||
| Nothing they do gets any traction. | ||
| You don't see any big rallies anymore. | ||
| What they have is a black robe insurrection. | ||
| And on top of this, we get a downgrade and a warning shot that we've got to get. | ||
| And I want to give a hat tip to Citizen Kane. | ||
| Kane is fantastic. | ||
| Citizen's Free Press. | ||
| Make that. | ||
| If you don't go there a couple of times a day, go to the stack. | ||
| What has he got on top of the stack right now? | ||
| He's ripping on it. | ||
|
unidentified
|
Because he did call this. | |
| Birchgold, get up to speed. | ||
| Understand what's going on. | ||
| The seven free installments, if you go back to the first that we started four years ago and read all the way to the current, you'll have more knowledge of these guys on Capitol Hill. | ||
| Birchgold.com slash band and end of the dollar empire. | ||
| Get it and read it this weekend. | ||
| Short break. | ||
|
unidentified
|
Here's your host, Stephen K. Band. | |
| We gave the thunderstorm stink eye and it went away. | ||
| Man, that was a bad one. | ||
| These things in D.C. get very intense. | ||
| I wish Capitol Hill had the intensity of the thunderstorms. | ||
| They've got to get to work. | ||
| So tomorrow we've got Chip Roy. | ||
| Brad's going to be back with me. | ||
| I'm going to get a couple other people from work tonight. | ||
| I'm going to try to get the great Russ vote. | ||
| A bunch of articles up in the Guardian and Vanity Fair. | ||
| Great profiles of Russ. | ||
| The work he's been doing. | ||
| And like Citizen Kane said, this is a culture. | ||
| We've been talking about this for a while. | ||
| You've got to get control of spending. | ||
| We don't have a revenue problem. | ||
| We've got a spending problem. | ||
| And we have to get real about it. | ||
| Not just the structural things of the long term. | ||
| You've got to get real for fiscal year 26. We kick the can down the road for 25. And guess what? | ||
| We're going to get a $2 trillion deficit for that. | ||
| And that's all has to be financed. | ||
| Besson's got to sell all these bonds. | ||
| Don't think that 10-year is just going to sit there. | ||
| Until they see the growth rate, a real growth rate, start to kick in. | ||
| And I think that the new trade relationships is going to do that. | ||
| But it's going to take a while to kick in there. | ||
| President Trump's trying to do both, trying to do both sides of the equation. | ||
| And in the Moody's downgrade, they don't mention tariffs are trading to the last little paragraph of the sentence they had to stick it in. | ||
| It was about inability to get our arms around the debt and deficit. | ||
| And hat tip to Citizen Kane. | ||
| And this is why you want to get up to speed on this. | ||
| The best, I tell you, people come to me, just go to birchgold.com slash bandit, end of the dollar empire. | ||
| It's seven free installments, all free. | ||
| If you read that, you will be at the backyard barbecue, the go-to person. | ||
| They'll be saying, how did you know that? | ||
| Wow, that's amazing. | ||
| Because we wrote it for accessibility for our audience. | ||
| It's now taught in college finance classes, right? | ||
| Dr. Kim. | ||
| Heck of a week here. | ||
| And so I rave about Field of Greens. | ||
| It gets me all my fruits and vegetables in the daily intake I do every day. | ||
| Plus, it's real organic superfood. | ||
| It's not like the other brands that are not actually organic. | ||
| Tell me what the difference is. | ||
|
unidentified
|
Thanks again, Dave. | |
| Appreciate it. | ||
| You know, we created this product. | ||
| We stayed away from extracts, wanted to get servings of fruits and vegetables and eat scoop. | ||
| We added stuff that was going to help you with digestion, gut health, metabolism. | ||
| I don't know about you, but when I take this in the morning, it just gives me an instant jolt in the morning without having any caffeine. | ||
| That's been great. | ||
| Anyway, go ahead. | ||
| No, no, it's big. | ||
| By the way, I take it first and then I pound down my Warpath coffee. | ||
| I'm jacked. | ||
| I'm ready to go. | ||
| Five o 'clock, boom. | ||
|
unidentified
|
It's like the Kool-Aid guy. | |
| I'm ready to run through a wall. | ||
| Yeah, I love it. | ||
| So we've been doing that. | ||
| And then, you know, the whole premise behind all of this is always creating what I call the Brickhouse Way, which is just a new lifestyle, which I think people are not appreciating, is that the dedication, the discipline, and the constant reminder to be living a healthy lifestyle. | ||
| And I think sometimes you need something in the cupboard to remind you of that, right? | ||
| So you have this big bottle of Brickhouse Field of Greens that reminds you, hey, look, we need to take this and live a healthy lifestyle. | ||
| And then on top of that, what we've done was we transitioned into a product like Lean. | ||
| And, you know, if you're looking to cut some weight, trying to stay in shape and you need a little pick-me-up in the morning, Lean adds that for you. | ||
| So we've created another fat-burning weight loss product. | ||
| And if you're trying to create a new healthy lifestyle for yourself, there's no better reminder about the Brickhouse way at like Field of Greens and Lean right now. | ||
| Why are lean in this part of fat burning? | ||
| Because you see all these people talking about Ozempic and all these exotic drugs they're taking that are really for diabetes or whatever. | ||
| Why is lean the way to go? | ||
|
unidentified
|
You know, we don't know what the side effects long term will be with Ozempic and others. | |
| And with lean, we've put together a lot of ingredients that have been studied that people have been taking for centuries. | ||
| And we've added them. | ||
| So things that help you burn your... | ||
| Stored fats, stuff that gives you energy in the morning to pick up your basal metabolic rate. | ||
| The other ones are also to help you kind of feel a little bit more full. | ||
| So this product has done a lot and wonders for a lot of people, and we love it that way that it's created naturally with herbs. | ||
| As you're reminded of that, you're reminded, okay, let's keep the rest of the healthy lifestyle moving. | ||
| Keep the brick house away. | ||
| So it's the field of greens. | ||
| We're starting to add new products, Steve, just for everybody, which is we're adding a protein that's coming out that's sustainable. | ||
| We're adding a couple other things for lean body mass build. | ||
| So we're adding onto this theme of building a healthier lifestyle for yourself as well as the future generations. | ||
| I love that. | ||
| The BrickHouse way. | ||
| Some of the BrickHouse way up. | ||
| You got 30 seconds. | ||
| Tell me, what is the BrickHouse way to lead a healthy lifestyle? | ||
|
unidentified
|
The BrickHouse way. | |
| It's to look in every single day is to make sure that you're creating good habits, eating healthy. | ||
| Moving, exercising, and really getting out there and just keeping something stable for yourself so that you could teach yourself as well as the future generations what it's like to live a healthy lifestyle. | ||
| And we've got products for everybody to take and really to just keep that and create a solid foundation for yourself moving forward. | ||
| And you get a big discount. | ||
| You put in Worm. | ||
| Where do people go right now to find out about the Brickhouse Way, Lean, Field of Greens, all of it, sir? | ||
|
unidentified
|
So BrickHouseNutrition.com, also FieldOfGreens.com, and right now the code for all the Bannon listeners is Bannon20, and then you can also find Lean on GetLean.com. | |
| So there's all sorts of ways that it'll funnel you back to us, but BrickHouseNutrition.com, Bannon20, get 20% off your order. | ||
| Plenty of touch points. | ||
| Dr. Kim, thank you so much. | ||
| Audience loves you because you're so dedicated. | ||
|
unidentified
|
Thank you so much. | |
| Appreciate it. | ||
| Enthusiastic about this. | ||
| You've done so much work. | ||
| Your team is absolutely fantastic. | ||
| Love you guys. | ||
|
unidentified
|
Thank you. | |
| The Brickhouse Way. | ||
| Dr. Kim and his team get healthy. | ||
| Taking Field of Greens, you take that shot in the morning, add a little Warpath coffee, you know, do the Field of Greens in your water, your juice, and then do a Warpath coffee. | ||
|
unidentified
|
Boom! | |
| You'll be ready for it. | ||
|
unidentified
|
Boom! | |
| You'll be ready for it. | ||
| That's how we do it here in the war room. | ||
| This is how you go full gonzo. | ||
| Told you about the Supreme Court. | ||
| Told you about the debt and deficits. | ||
| Right? | ||
| We're going to now work through this on the Supreme Court. | ||
| President Trump. | ||
| Suspend the writ of habeas corpus and start putting him on planes tomorrow and getting the hell out of the country. | ||
| How about that? | ||
| Suck on that Supreme Court. | ||
| And have these people do some real cuts over the weekend and get back to you. | ||
| Mike Lindell. | ||
| We're going to end on a Friday. | ||
| Run through the tape. | ||
| Sell me some sheets, brother. | ||
| Well, everybody, like Steve just said, you get a set of sheets and boom! | ||
| You're sleeping great. | ||
| But all good things must end. | ||
| And the sale is ending now. | ||
| You guys got to get these, the Giza Dream sheets, for $49.98, any size, any color. | ||
| We might have some left for the Posse Weekend Warriors, but I can't guarantee that. | ||
| But right now, they're all there, $49.98, any size, any color. | ||
| Promo code WARWROOM. | ||
| Also, Andy, you guys, if you go to the website, you got the crosses like I wear, men's and women's. | ||
| Go to the website, scroll down, do you see Steve and click on them, and you're going to see the crosses. | ||
| 50% off. | ||
| This is going away today. | ||
| So you guys get them while you can. | ||
| They made in the USA. | ||
| Reversible for the women's and the men's. | ||
| And you got call at 1-800-873-1062. | ||
| Get the Giza sheets before they're gone. | ||
| You guys, $49.98. | ||
| And it's been an amazing sale. | ||
| But you guys were great taking care of my employees and my employee-owned company. | ||
| Steve, you guys are awesome. | ||
| We'll see you tomorrow morning. |
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