Bannon's War Room - Episode 4137: This CR Will Be Mike Johnson's McCarthy Moment Release Date: December 19, 2024

Host: Stephen K. Bannon
Co-Hosts: Natalie Winters, Jake Sherman, Cash Patel, and Special Guests

Overview

In Episode 4137 of Bannon's War Room, host Stephen K. Bannon delves into the high-stakes political maneuvering surrounding Speaker Mike Johnson's recent Continuing Resolution (CR) proposal. The episode provides an in-depth analysis of the potential government shutdown, the inclusion of controversial policies in the CR, and the broader implications for the Republican leadership and upcoming administrations. Featuring insights from political analysts Natalie Winters and Jake Sherman, the discussion highlights the tensions within the GOP, reactions from prominent figures like Elon Musk, and the looming debt ceiling crisis.

Budget Bill and Continuing Resolution (CR) Strategy

Jake Sherman opens the discussion by explaining the intricacies of the 85-day Continuing Resolution proposed by Speaker Mike Johnson. Unlike a long-term omnibus spending bill that funds the government for an entire fiscal year, Johnson's CR extends funding only until March 14th, November 19, 2024.

Jake Sherman [00:08]: "It's an 85 day bill with a whole pile of policies that have nothing to do with general government operations... It's a very bold move by Mike Johnson to put all these policies in a bill."

Johnson's strategy includes embedding a variety of policies—from healthcare reforms to land transfers for new stadiums in Washington, D.C.—raising concerns about the bill's feasibility in passing both the House and the Senate. The short duration coupled with the extensive policy additions makes the CR a high-risk, high-reward tactic intended to force a vote before the impending government shutdown on Friday night.

Speaker Mike Johnson's Leadership Under Scrutiny

Natalie Winters draws parallels between Speaker Johnson's current challenges and former Speaker Kevin McCarthy's struggles, emphasizing the slim Republican majority that necessitates bipartisan cooperation.

Katie [01:49]: "Speaker Mike Johnson says the reality which is they have almost, they have a majority that is so, so slim that they have no choice but to work with Democrats, act in a bipartisan way. Is he going to be punished for this?"

Jake Sherman discusses the potential political fallout for Johnson, noting that while the CR may pass, it could come at the cost of Johnson's position as Speaker. The inclusion of contentious policies risks alienating both conservative members and the broader Republican base, potentially leading to Johnson's ousting.

Jake Sherman [02:17]: "There could be a political consequence to Speaker Johnson that we have yet to calculate."

Public and Political Reactions

The CR has sparked backlash across the political spectrum, notably from tech mogul Elon Musk, who has threatened to primary and oust any Congress members supporting the bill.

Stephen K. Bannon [04:24]: "Elon Musk has been going on a tear on his platform X... Anyone who votes for this thing should be primaried and should be out of Congress."

Additionally, figures like Vivek Ramaswamy and Donald Trump Jr. have voiced strong opposition, further complicating Johnson's position. Jake Sherman speculates on President Trump's potential influence, suggesting that Trump's support could be pivotal in determining Johnson's fate.

Jake Sherman [03:00]: "If he forces this and survives, it's going to be because he's convinced Donald Trump that it's going to be better for his presidency long term."

Debt Ceiling Crisis and Economic Implications

A significant portion of the episode is dedicated to the looming debt ceiling issue. Jake Sherman highlights that the debt ceiling is expected to be addressed by March, adding another layer of complexity to the already fragile CR.

Jake Sherman [09:01]: "The debt ceiling, technically, I think the deal expires the 3rd of January. And I believe the debt ceiling comes in sometime in March."

Natalie Winters criticizes the CR for including provisions that appear to target public health initiatives and expand governmental control, viewing them as strategic moves to undermine the incoming Trump administration.

Natalie Winters [12:12]: "The CR omnibus... mandates that we have to at all times have 12 biocontainment laboratories active... It also suggests that the office of the Chief Administrator and House Office General Counsel has to proactively inform any member of Congress who's potentially being investigated."

The discussion underscores the high-stakes nature of the debt ceiling negotiations and their potential to trigger a government shutdown, especially if coupled with Johnson's controversial CR.

Global Economic Concerns and Modern Monetary Theory

The episode transitions to broader economic concerns, with Philip Patrick of Birch Gold providing insights into the global financial landscape. He discusses the impact of Modern Monetary Theory (MMT) on the global economy and the strategic shifts by central banks worldwide.

Philip Patrick [40:55]: "The 80 year post war era of debt fueled prosperity is over. Trump is the herald, he's ushering in a new age and we're going to have to see how it shapes out."

Patrick emphasizes the unsustainable nature of current debt levels and the potential fallout from the U.S. adopting aggressive economic policies under President Trump's administration. The conversation highlights fears of a depreciating dollar and increased reliance on precious metals like gold as hedges against economic instability.

Host’s Closing Thoughts and Future Outlook

Stephen K. Bannon wraps up the episode by reinforcing the gravity of the current political and economic crises. He underscores the necessity of strong leadership under President Trump to navigate the challenges posed by the CR, the debt ceiling, and international economic pressures.

Stephen K. Bannon [46:09]: "This is why Johnson's got to go... The only guy in the world who could pull this off is Donald Trump. So we've got to have his back."

The episode concludes with a call to action for listeners to support the Republican efforts to prevent a government shutdown and ensure fiscal responsibility, while also promoting upcoming events and exclusive content related to Bannon's War Room.

Notable Quotes

1. Jake Sherman [00:08]:
   "It's an 85 day bill with a whole pile of policies that have nothing to do with general government operations... It's a very bold move by Mike Johnson to put all these policies in a bill."

2. Elon Musk [02:17]:
   "A lot of them just didn't want to answer, which I think is pretty revealing about how frustrated many of them are with the way this particular budget negotiation went."

3. Natalie Winters [12:12]:
   "They are working to extend that for a year. I don't understand how you can even make any case for that, let alone when you drill down."

4. Philip Patrick [40:55]:
   "The 80 year post war era of debt fueled prosperity is over. Trump is the herald, he's ushering in a new age and we're going to have to see how it shapes out."

5. Stephen K. Bannon [46:09]:
   "The only guy in the world who could pull this off is Donald Trump. So we've got to have his back."

Conclusion

Episode 4137 of Bannon's War Room presents a critical examination of Speaker Mike Johnson's Continuing Resolution amidst a backdrop of political strife and economic uncertainty. Through expert analysis and strategic insights, the episode underscores the high stakes involved in preventing a government shutdown, managing the debt ceiling, and steering the Republican Party through internal and external challenges. As the episode concludes, listeners are left with a heightened awareness of the impending political shifts and the pivotal role of leadership in navigating these tumultuous times.