Episode 4477: The Relationship Between Wall Street And The imperial Capital

Summary

Podcast Summary: Bannon's War Room – Episode 4477: The Relationship Between Wall Street and the Imperial Capital

Release Date: May 10, 2025
Host: WarRoom.org (Stephen K. Bannon)

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1. Introduction to the Budget Bill and Tax Policies

The episode begins with a critical discussion on the current budget bill, particularly focusing on the White House's proposed measures to raise taxes on the wealthy and close the carried interest loophole. An unknown speaker raises questions about former President Donald Trump's potential support for these tax increases, noting the persistent push from lawmakers to eliminate the loophole without success.

Quote:
Unknown Speaker 1 [00:00]: “Do you believe there is truth to this? That Donald Trump does actually want to increase taxes on the rich and close this carried interest loophole?”

Steve Bannon's Perspective:
Steve Bannon counters the notion that Trump has a definitive stance on increasing taxes, attributing the tax-focused philosophy to himself instead. He emphasizes the necessity of finding new revenue sources to pass the budget but expresses skepticism about the effectiveness of targeting only the ultra-wealthy.

Quote:
Steve Bannon [00:40]: “I don't know that Donald Trump wants to do that. I don't think he has any particular philosophy of that. I think Steve Bannon does.”

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2. Government Spending and Deficit Concerns

The conversation shifts to the broader issue of federal spending and the national deficit. Bannon criticizes the idea of solely taxing the rich, arguing that such measures are insufficient to address the $7 trillion budget. He highlights the lack of attention to reducing government expenditures, asserting that without significant cuts, the deficit will continue to grow.

Quote:
Steve Bannon [01:13]: “It's like the wealth tax is not touched.”

Unknown Speaker 2's Analysis:
The second speaker discusses the political landscape, noting the absence of lobbying against government overspending. They argue that while there is substantial lobbying for tax cuts for the wealthy, there is no equivalent pressure to reduce the $7 trillion budget, leading to continued fiscal irresponsibility.

Quote:
Unknown Speaker 2 [01:15]: “All these voices are out there talking about tax cuts for the rich, but they're not talking about Congress overspending.”

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3. The Influence of Wall Street and Lobbyists

Bannon delves into the intricate relationship between Wall Street and the federal government, describing it as a conduit for the wealthy to influence policy. He portrays the political system as heavily skewed in favor of financial elites, with lobbyists wielding significant power to shape legislation to their advantage.

Quote:
Steve Bannon [04:18]: “It's the direct link. It's the transmission between Wall Street, the capital markets and the imperial capital.”

Critique of the Political System:
Bannon criticizes the current political regime as dying and corrupted, emphasizing the need for a grassroots movement to challenge the entrenched interests that perpetuate fiscal mismanagement and political corruption.

Quote:
Steve Bannon [03:27]: “This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people.”

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4. Debt Ceiling Crisis and Future Outlook

An extensive discussion centers on the impending debt ceiling crisis and its potential ramifications. Bannon and his guests express concerns about the United States' ability to manage its debt without drastic measures. They predict financial instability, constitutional crises, and increased global challenges if the debt is not addressed.

Quote:
Steve Bannon [22:01]: “We have to avoid that. Make sure you go to birchold.com the Rio Reset. Make that your weekend study.”

Economic Predictions:
The panel forecasts a significant drop in GDP and warns of escalating deficits if the debt ceiling crisis isn't managed effectively. They urge immediate action to cut spending and restructure fiscal policies to prevent economic collapse.

Quote:
Steve Bannon [23:58]: “If you don't do it now with President Trump on the ascendancy, it's going to be a disaster.”

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5. Political Shifts in Key States: New York and Texas

A substantial portion of the episode is dedicated to analyzing the shifting political dynamics in pivotal states like New York and Texas. Bannon highlights how traditionally liberal strongholds are becoming increasingly receptive to MAGA influences due to dissatisfaction with high taxes and excessive government spending.

New York's Transformation:
The discussion references a poll indicating Governor Hochul’s plummeting approval ratings, attributing it to fiscal mismanagement. Bannon underscores the potential for a political upheaval in New York, positioning it as a battleground for conservative forces.

Quote:
Steve Bannon [37:35]: “New York, which is the financial capital world. You got to free it.”

Texas as the MAGA Stronghold:
Texas is portrayed as the epicenter of the MAGA movement, where grassroots efforts have successfully countered liberal policies. Bannon emphasizes the state's economic strength and the ongoing battle against entrenched political interests to maintain its conservative stance.

Quote:
Steve Bannon [40:12]: “Texas is going to be a fight, folks, because Texas is... one of the fourth or fifth biggest economy in the world.”

Dave Brat's Insights:
Dave Brat adds that MAGA has energized a diverse coalition, including working-class individuals and minority groups, to challenge Democratic dominance in these states. He highlights upcoming political strategies aimed at taking key positions in New York.

Quote:
Dave Brat [37:35]: “It has really inspired and motivated a massive coalition... we're going to have to juice these numbers 10 to 12% more.”

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6. Conclusion and Future Projections

The episode concludes with a call to action, urging listeners to engage in the political process to curb governmental overspending and reduce the national deficit. Bannon emphasizes the urgency of the situation, warning of severe economic and geopolitical consequences if immediate reforms are not implemented.

Final Remarks:
Bannon reiterates the necessity of grassroots mobilization and bold leadership to navigate the country through its fiscal challenges. He underscores the importance of maintaining the U.S. as the prime reserve currency and countering global shifts that threaten American economic supremacy.

Quote:
Steve Bannon [45:02]: “What we need is to start having tough conversations and tough decisions. Otherwise, the rest of the world's going to have our alternatives narrowing and narrowing and narrowing.”

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Key Takeaways:

• Tax Policy and Government Spending: The episode critically examines proposals to tax the wealthy and eliminate the carried interest loophole, arguing these measures are inadequate without substantial cuts in government spending.

• Wall Street's Influence: A significant focus is placed on the symbiotic relationship between Wall Street and the federal government, highlighting the role of lobbyists in perpetuating fiscal irresponsibility.

• Debt Ceiling Concerns: The looming debt ceiling crisis is portrayed as a catalyst for potential economic and constitutional turmoil, necessitating urgent fiscal reforms.

• Political Realignment: Key states like New York and Texas are highlighted as potential battlegrounds for conservative resurgence, driven by grassroots movements and dissatisfaction with current fiscal policies.

• Call to Action: The hosts advocate for immediate and decisive action to address fiscal deficits and challenge entrenched political interests to secure the nation's economic future.

This episode of Bannon's War Room provides a comprehensive analysis of the intertwined relationships between governmental policies, economic management, and political dynamics, urging listeners to take an active role in shaping the nation's fiscal trajectory.

Transcript

[Unknown Speaker 1]

Hours. As we're looking at this big budget, budget bill, there's now this idea coming from the White House that Donald Trump could be open to raising taxes on the wealthy as well as potentially closing the carried interest loophole. If you're not familiar with it, it is basically a giveaway to the private equity industry that year after year lawmakers on both side of the aisle say, God, that's ridiculous. We're going to get rid of it. Yet it never goes anywhere. Do you believe there is truth to this? That Donald Trump does actually want to increase taxes on the rich and close this carried interest loophole? Do you believe this? Because guess what? He does need to find a way to get this budget passed.

[Steve Bannon]

I don't know that Donald Trump wants to do that. I don't think he has any particular philosophy of that. I think Steve Bannon does.

[Unknown Speaker 2]

The disembodied hand of Steve Bannon reaching in.

[Steve Bannon]

Right. So. So I think that's true. I think they have to find the money somewhere. Theoretically, it's not enough.

[Dave Brat]

I mean, they carried interest arounding error in the federal budget.

[Steve Bannon]

And what he's talking about wouldn't get.

[Dave Brat]

You there like taxing the rich. They're talking about people who earn earn.

[Steve Bannon]

Over $2.5 million a year. That is 0.1% of the population.

[Dave Brat]

That's another number that won't get you there.

[Mike Lindell]

Right.

[Steve Bannon]

It's like the wealth tax is not touched.

[Unknown Speaker 2]

Here Grover Norquist comes in. I'm friends with Grover. President America's Tax Reform said on Wednesday, you know this, we oppose this. This is not repub policy. David McIntosh, president of Club for Growth. I know David Macintosh said in a statement, scaling back the size and scope of the $4 trillion tax cut will help the Democrats raise taxes. This is not a serious option and it's political suicide. And so the problem that we have on the populist side is all these voices are out there talking about tax cuts for the rich, but they're not talking about Congress overspending. Notice all the lobbyists are there for the tax cuts for the rich. We don't have any lobbyists for the American people who are paying the bill for all this. Right. So no one's cutting the $7 trillion budget. It's not going to go down much at all. Steve's been covering it brilliantly for the last months. It looks like spending might even go up. There's some hope. Well, we'll see if we get a 17% reduction in non defense discretionary. That's promising. But that's a small piece. And so I just kind of wanted to lay out some of the arguments. Go look up the Hill article. Refresh yourselves. The American people can make this point, but I think we ought to use that tax piece as leverage. If the rich have lobbyists at work, why don't you put those lobbyists in charge of cutting spending as well. If we get the government to disappear, then business will flourish. We all want that. That's the outcome we want. I want economic growth. I've spent my whole life on economic growth. And so this is the way to do it. We need to team up and reduce government spending. The tax guys say, well, if you tax the rich or whatever, you know, you're just going to provide more money for government. Well, the Fed, the Federal Reserve and every institution is doing that already. The Milton Friedman logic has not worked. And I'm a Milton Friedman fanatic. Steve mocks me for being Milton Friedman Jr. Right. And so I just want to share a few thoughts. This has to do major league implications for politics and the Republican Party going forward.

[Steve Bannon]

This is the primal scream of a dying regime. Pray for our enemies because we're going to medieval on these people. I got a free shot. All these networks lying about the people. The people have had a belly. 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 line? MAGA media.

[Unknown Speaker 2]

I wish in my soul, I wish.

[Steve Bannon]

That any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved.

[Mike Lindell]

War Room here's your host, Stephen k.

[Unknown Speaker 2]

Ban.

[Steve Bannon]

Saturday 10th May your Lord 2025 so Dave, Brett, you know, Grover Norcross. None of these guys ever talk about cutting spending. And here's the problem. The wealthy benefit from the, from the, from the federal. Increased federal spending. How do I know this? How did President Trump break the law firms? The law firms are the way that the wealthy. It's the direct link. It's not connective tissue. It's harder than that. It's like linkage in a transmission between Wall street, the capital markets and the imperial capital. The folks up here that just vote, do as they're told, vote the way the money tells them to vote. The universities and the or three things. Number one, when Doge first started, when OMB asked, just like let's take a pause where's all the money and people melted down. But you found out the federal money is in every district. It's everywhere. That's what $7 trillion a year get you okay, number two. When treasury said oh they had the, the checks, the 4.6 trillion, everybody froze up there. Think about that. There's. That turned out to be both of those turned out to be nothing burgers. But it showed you the scale and the depth of the problem. Then you go to how did Trump break the law firms? How did the brilliant Boris Epstein come up with it? It's to put in there, not just take away your security clearances. You can't work on any more government contracts. And oh by the way, any clients that keep you will not be eligible for government contracts. That means federal money. This is a bazaar up here. It's like bazaar in Baghdad back in the, you know, medieval times. That's what it is. Everything's an auction every day in the pigs up here have got their, their nose in the snout and you're paying the, you're paying the price. The lobbyist you got is Trump and look, everybody's got around him and I'm telling you, take this to the bank. We have changed the electorate to now be able to win because on traditional republic and orthodoxy you can't win. You can't sell. It's not sellable to the American people because it doesn't work. This is why the country's in such bad shape. Because Fox News, the Republican Party were controlled opposition kind of went along with it. You're seeing it again right here. Look at all this happy talk. Look at all the lies being said about raising taxes on the wealthy. It's not that we want to, not that we want to raise taxes on the wealthy. The rev money must come from somewhere and they're the driving factor on spending. It's a great, I believe in incentives. It's a great incentive to give them a wake up call. You don't want to pay higher taxes then get your lobbyist to back off and help us cut this budget. Did you see one penny at a defense and I consider myself a hawk. We don't need a trillion dollars. And Russ vote the brilliant Ross vote His theory the case now at the top up the other $150 billion that we, we get it all to these guys at one time, Dave. So now they don't come back every year and then we have to have cuts. You know we can't, you know we can't cut social spending because we can't cut this. It's all kind of gobbledygook. We gotta face reality and do a very basic. Like, we're doing a bankruptcy. When you're doing a bankruptcy, you come in, boo, Boo. There's all kind of. People are yelling and screaming. You got to get down to the basics. Cash in, cash out. What does my balance sheet look like? What can be monetized here? How do you do this? Number one, how do you cut spending? You're absolutely correct. But, Dave, you sit there and you got Grover and you got, you got Club for Growth. And they're all, you know, they want to do this and they want to do this, and they. Austrian economics, they never talk about cutting spending. We came up with $163 billion, which is just a lick and a promise. That's in a 1.75 discretionary budget. 163 billion. And they're talking about how this is the most. This is so many conservative wins here. Bottom line. Let's just go to the bottom line of all the pieces that are coming together here. And Brett, help me out, brother. Right now, if you put this all together, the deficit in this budget of 26 is going to be two and a half trillion dollars. Two and a half trillion dollars. I dare anybody to show me. And don't give me gimmicks. We're not gonna. Hey, I went to Harvard Business School and went to. Worked at Goldman Sachs. You're not gonna put a gimmick past me. Don't give me a gimmick, okay? I don't hear gimmicks. You got all these gimmicks up there. They do this and do that. And conservative wins. I want to see cash in and cash out, because that's what's adding to the debt ceiling. And, God, we need the debt ceiling. That's the only thing keeps anybody honest. And as smart as Besson is, he's telling you, hey, I think it's going to be August. So the end of June, we got a financial crisis, got the constitutional crisis in July, beginning July, we got the. We got the Brics nations meeting in Rio saying we want out. And a lot of them are not friends of the United States of America. Like, you saw XI and, and Putin, like two teenagers the last couple days on their first date. And then you're going to have debt ceiling coming in. So this August, this summer, folks, you know, don't get ready to pack the cooler and go to the beach, because this is going to be one of the most intense summers in the history of this country. It's all converging. And guess what? If we want to be masters of our fate, we're Americans. If we want to be masters of our fate and make our own decisions, we got to start having tough conversations and tough decisions. Otherwise the rest of the world's going to have. Our alternatives are narrowing and narrowing and narrowing. Dave Bratt, thank you for joining us this Saturday morning. Sir, your thoughts and observations?

[Unknown Speaker 2]

Yeah, well, if you want no tricks and no fakery, go back to Russ Vogt and Center for Renewing America. Just probably about a year ago, he had 10 trillion cuts over 10 years. That's a trillion cuts over each year. A trillion each year. Right. And that still leaves you with a trillion deficit. But that was heroic work getting rid of all woken weaponized. And so now the Ways and Means Committee comes out with the budget drop last night. A lot of things are omitted, right? The tax on tips, Social Security, all those things are missing. The salt debate. There's another rich versus the middle issue. You gotta be kidding me. As Republicans and then as you say, the tax cut crowd, who I'm friends with, I like tax cuts, everybody likes tax cuts. But they're not responsible for the existential threat of China. They're not responsible for the bond market erupting on our gross overspending. Right. So that's what I was trying to get across in the clip. These guys have to play team ball and be adults in the room. It's nice. Represent the billionaires. And some of the billionaires are great. Some of them are heroes, manufacturing, etc. And some are not. I didn't see the Fortune 500 weighing in on anything having to do with a responsible budget. They never do. Right. So that's a mixed bag. And we got to design our tax policy appropriately. But all of this goes on the shoulders of Congress. Right. You don't hear anything out of Congress. The lobbyists make the argument very clear. This is, this is a disaster. Right. Raising and let me frame it properly, right. It's not raising taxes on everybody. It's raising taxes on families that make more than $5 million. That's the latest reporting from the Hill. Right. So that's, you know, 0.01% of the population go up 2%. So it's not Armageddon. It's not the end of times to the billionaire class. And the tax cuts are.

[Steve Bannon]

But there's not. But, but there's, but there's not. But there's not enough squeezing the, you know, juicing the squeeze on that you can do that, but that. I'm not saying it's performative, but that doesn't. Hey, we have a math problem.

[Unknown Speaker 2]

No, even that doesn't. Right.

[Steve Bannon]

First off, first, they do mention, they do mention tax on tips, tax on overtime, tax on Social Security. But in this at least 28 pages, and it's very, it's very early. It's just, they just put it out to put something out over the weekend. Because it's only half. Yeah, because they are going to do a markup on Tuesday. And folks, we are going to be manning the ramparts on Monday morning on this. They don't make it permanent. They don't make it permanent. The key is to make everything for the middle class and the working class permanent. Now, the wealthy, they've accreted all the benefits of this. They own all the real assets. They own all the financial assets. Right. Two thirds of the country or 70% of the country don't have any stake in the country whatsoever. You can't continue on like that. If the spending got cut, you wouldn't have to. Go ahead, sir. Go ahead.

[Unknown Speaker 2]

Yeah. And on the tax cuts, it'll be very interesting. When they say the average tax cut, you know, they take the total tax cuts and divide it by the number of workers or something. That's not acceptable because the rich may get the huge gains. And then the tax cut crew also said, you're giving this to the Democrats. You notice what they said already? There's no tax on the rich in this bill, in the, in the Ways and Means drop last night. But the Democrats came out anyway and said in the dead of night. The Republicans are, all they're doing is covering their taxes for the rich and the taxes for the billionaires so that you have that coming with certainty no matter what you do. So that math better be clean. Right. When we say middle class tax cuts, the vast proportion of the tax cuts should go to the middle class and the poor.

[Steve Bannon]

Yeah. Or the work. The working class. Right.

[Unknown Speaker 2]

Yes.

[Steve Bannon]

Right. Now, a lot of the working poor are. Their tax burden is not as high as, as the, as the working class and middle class, which is way too high. Hanger for one second. Birch, go take your phone out. Text Bannon. B A N N O N to 989-898. They got a free brochure. Investing in Gold and precious Metals in the era of Trump. The ultimate Guide. Get it today. Make contact with Philip Patrick and his amazing team. Short break. There's something happening with our farmland here in the United States that isn't getting enough attention. The Chinese have been buying up hundreds of thousands of acres of U.S. farmland. They're also taking control over critical supply chains, things like fertilizer, animal feed and farming equipment. Why? It's not clear. They're tightening the grip on global food production. That is clear. And if things go south and it could happen quickly, we need to be ready. That's why I trust my Patriot Supply. They're America's largest emergency preparedness company. And right now, when you get there 4 week emergency food supply, you'll get a free 4247 food kits, an extra 12 days of food, absolutely free. Okay, Full stop. You're gonna have to insert this, okay? And right now, when you get their four week emergency food supply, you'll get four free 72 hour food kits, an extra 12 days of food, absolutely free. Let me repeat that. You're gonna get four free 72 hour food kits. That's an extra 12 days of food and it's absolutely free. That's four weeks of delicious meals that last up to 25 years, delivering 2,000 plus calories per day. It's shipped fast and it's ship free. We can't control what the Chinese Communist party does. You can't control what China does. But we can control how prepared we are. Go to my patriotsupply.com today to claim your 12 days of free food. Shop my patriotsupply.com my patriotsupply.com do it today. Do not let this thing get ahead of you.

[Unknown Speaker 2]

Here's your host, Stephen K. Bass.

[Steve Bannon]

Bessant, Secretary of Treasury Trade Rep. Over negotiating the Chinese right now, or at least preliminary discussions about the trade situation, the commerce situation. Dave Brat, you have some additional thoughts? I mean, how are we going to get the political class, they know this audience supports them. They're the ones that put them there. The number one thing people talk to me about is, and it's not taxing the wealthy, right? It's not, but it's cutting. It's getting rid of these deficits. We can't keep adding to this debt. You know, now that as we've shown people, by adding to the debt and having to refinance the debt of which we're still financing this debt kind of short term. We haven't gone out long term of this debt, a lot of it. And Japan put a shot across our bow the other day. Japan said, hey, by the way, in our negotiations, the $1 trillion of US government securities that we own have got to be part of that discussion because they know we're going to come back to them to buy a lot more. That's what if you want, if you want, you ought to get Strategic Intelligence, the newsletters Jim Rickards, one of our contributors, one of the smartest guys globally on capital markets, intelligence, national security, geopolitics. Go to rickardswarroom.com get access to strategic intelligence if you can go and if Mo and Grace can push that out and he'll throw in the new book, which is a kind of a frightening book about artificial intelligence and currency. Not a pleasant read, but something you should read. That's Rickards war room.com go to the landing page and get all the access to the information. Jim Rickards and his team. I want to talk about this thing of this situation being prime reserve currency and the reports you're hearing, they're leaking out now by the lords of easy money. But you were up there. Why President Trump has been very bold. He's talked about what he wants, you know, to get to a balanced budget. And balanced budget is we don't even we're talking about now going from 6 and a half or 7% deficit to GDP down to 3 and a half percent, not even close to a balanced budget. Still, I don't know, around a trillion dollars a year deficit. That would be a win, but you got to see a path to that. Somebody's going to have to walk me through the math because what we've presented so far and kind of different elements of it, a little bit of budget here, a little bit of taxes here, kind of and I think I'm not saying they're doing to confuse people because they know that we're going to make sure we can explain it all to everybody. But what is the hesitancy, knowing their constituents, number one? Number one thing is to cut spending. Hell, we haven't put the Russ is still working on the rescissions of the $2 billion for PBS and NPR. That rescission hasn't come up yet. What is the hesitancy of the political class up on Capitol Hill to do their task and get their arms around? At least start with discretionary spending and get your arms around it and come back with meaningful cuts. Sir?

[Unknown Speaker 2]

Well, the hesitancy is what you'll see in all the mainstream headlines right now. We haven't cut any money and yet the headlines are all we're ruining the environment, we're ruining Medicaid, Medicare and all that. It's all totally false. Natalie Winters last night showed, in fact, the opposite is true. There's a 10 or 20 billion dollars hunk of corruption going from Medicaid payments to California for illegal immigrants. There's the USAID corruption. We're sending money to Africa and then we're making the poor Africans send the money back to Democrat operatives in this country. We have receipts on all this. So the American people are disgusted. And so what's the hesitancy? The hesitancy is the same as I've been saying this for 10 years. They turf me out. They play one offs by state, by state, by state on political strategy. The speaker needs to come out with an overall messaging points for the United States of America. And the Senate needs to do the same thing and it needs to fit with Trump. They won't do that. They're playing prevent defense just like in sports. And everybody knows how the game ends when you do that. We got the same budget numbers basically on file right now we've had for the past 30 years. Nothing new is going to change because they're scared of the midterm elections. And they should be scared because Trump showed you the way forward. You do big, bold proposals that people love and then you win. But they're not doing that. They won't message on any of this. There's corruption all around us. The American people are overwhelmingly against the swamp. Take a bold move, right? We talk about the Judeo Christian West. Sometimes you got to take a leap of faith, just do the right thing. In addition, it's the right thing to do to save your country. And so we all know the hesitancy and the war room is going to put in every effort we can to light up the flares. But you see what's coming. You've been saying it for a year ahead of time. What the budget process is likely going to look like unless the American people turf out the seven trillion dollar gang.

[Steve Bannon]

Well, here's, here's what they're going to do. It's obvious now they're going to use the debt ceiling in the crisis for that to be able to slap together. Because if you actually, you correct me, you were, you, you were there. Just my observation, having gone through, you know, gone through this rodeo a couple of times, if you look at the big beautiful bill, since they didn't break it into two, it's all part of one. Yeah. Right now this thing doesn't get without a debt ceiling. This thing really doesn't get put to votes until after Labor Day sometime in September. It's going to take that long to do the horse trading because it's so Complicated. Now they're going to say, well, we got the debt ceiling in August and we're going to run out of money and we're going to run out although vote can show them how to triage this, that we need to raise the debt ceiling and that's part of, that's supposed to be part of the reconciliation because you can't get it any other way. You need to do it on 50 votes. So right after we finish the constitutional crisis about the President's Article 2 powers, we're going to have this BRICS meeting where you're going to see an act, you're going to see the Global South. The Global south is going to say, hey, we're going to go in a different direction. Not day one because you've got us, but we're going to go in a different direction. And then you're going to have a crisis of debt ceiling and all of this go where you're going to have basically range war between on this massive deficit you're going to have in this unless you come up with other revenue sources. Because you only got a couple ways to do this. You can have a higher growth rate and right now at a growth rate of two and a half percent, which I don't think we're going to hit, but let's say two and a half percent, you're still not going to get there. It's going to be a deficit over. It's going to be a deficit over $2 trillion and that just can't happen. We're going to have a $2 trillion deficit in the first fiscal year. President Trump. Because we basically signed on to Biden's budget. Dave Brat.

[Unknown Speaker 2]

Yeah, it's a 2% growth rate with $2 trillion deficit spending, which is hugely stimulative and you still have a very liquid Federal Reserve balance sheet, right. Which hasn't been pared down substantially yet. So all of it's fake. And so the message from the war room has got to be in this two year window. If you've got President Trump who just won a historic victory across the board, popular vote, everything, right? The whole shooting match. And if you can't get it right with a House and the Senate and President Trump in the first year with momentum, you know what's coming and it ain't pretty, it's a disaster, right? And everybody, all the swamp, all the globalists, all the big spenders, the Democrats are just waiting out Trump. They're going to see what they can do with lawfare, with the judiciary and that that is the main point that probably needs to be made if we don't do it now with President Trump on the ascendancy, leading in all the polls on these key issues. Now is the time, folks. Light it up. Light up the switchboards.

[Steve Bannon]

We're going to have an organized effort on this starting Monday morning. So we'll get information up to everybody on my getter account, Bratz, all of it. So you can serve now. The Daily Mail. Degrass, the great Charlie Spearing who worked for me at Breitbart is now the senior political reporter over at the daily mail from D.C. he's got an incredible. We can get it up and get it to Denver. Huge story just broke in the Daily Mail. Deep blue state is swinging aggressively to the right and there's polling to prove it. That state is New York State. Hochul, they just got a poll out that serves Hochul's at 36% approval and 55% disapproval. What's the biggest problem people have is the taxes. Spending's out of control and the taxes are too high for what they're getting. It's destroying people up there. It's happening all over the country. It's happening at federal level. This is a winner in the midterm elections. If you take a bold stand against this out of control spending, a bold stand against out of control spending and you're not raising what President Trump has proposed is the most, is the biggest, most massive tax cut in history for middle class and working class people. And when you add on the no Social Security, no no overtime and no tips. Grover and those guys never talk about that. They go back to that lie about 92 about Bush lost and President Trump called him out yesterday. He says, hey, I think it was really Ross Perot, right? It was really Ross Perot. That's why he lost. The Republicans or The conservatives got 58. Bill Clinton got 42 or 43% of the vote. He was always a minority president. Nobody's going to buy that. What that scumbag was selling this cause pro split the vote. Remember that was just raising taxes on. Go ahead, sir.

[Unknown Speaker 2]

Yeah. And I had a few charts I didn't get up the other day on the cultural moves. The democratic elite, Bernie, AOC, etc. The leaders on the Democrat Party side. Yes, there they man, good. Denver, slap that up. Wow, you guys are good. There's, you know, so kind of the gray line in the middle is your culture. The red line on the right is Republicans. But you see the huge deviancy as you move up to the current day, right. As you move up and up and up on that graph, the blue line is a deviation away of the Democrat elites, away from the American people. And you see that on a whole host of issues on the left, on the right, on cultural issues, on the economic issues, on the tax issues. The Democrats are out of control. And that's what I'm saying right now. If you don't strike right now, big and hard, this is your opportune time, right? This is it. We're winning across the board. It's the left who has the problem. The conservatives do not have a problem. On messaging, we believe in the Judeo Christian west, the rule of law, all the good stuff. Men, women, kind of the basics, right? And so now is the time.

[Steve Bannon]

Brad, I know you got a bounce. You got graduation liberty today. What's your social media, sir?

[Unknown Speaker 2]

Yeah, just brat economics getter and on X now and I'll be beefing that up by over the summer. Now I'm going to get a little more active and social.

[Steve Bannon]

The day brat on a Saturday morning. Thank you, brother. Appreciate you for all your hosting this week. Fantastic. Short break. Back in a moment. Health isn't just a personal issue. It's a family issue, a community issue. We're living in unpredictable times. Supply chains can break down, hospitals can get overwhelmed. And let's not even start on the natural disasters. These aren't hypotheticals. They're happening. You see it here in the war room, and we all know it. The question is simply, are you ready? That's where Jace comes in. This isn't just a kit. This is a Jace case. It's a lifeline. It's a personal supply of prescribed emergency medications that puts the power back in your hands. Whether it's an unexpected illness or a global disruption of supply chains, you can act fast and protect yourself and your loved ones. This February, show them you care in a way that really matters. Be prepared. Get the Jace case today so you'll have the right meds on hand the moment you need them. Visit jacemedical.com and use the code Bannon B a N n o n at checkout for a discount on your order. That's Jace medical.com promo code Bannon. Get the Jace case and do it today.

[Unknown Speaker 2]

Here's your host, Stephen K. Bannon.

[Steve Bannon]

With everything else going on in the world, President Trump bringing peace to. Trying to bring peace to Ukraine. Bringing peace, at least temporarily, to Kashmir, the line of control, the contested territories there, which is a tinderbox waiting for a match to go between Two nuclear powers and one that's not that stable. In Pakistan, a blockbuster story based upon the great Charlie Spearing, with research and polling done by Daily Mail. If we can put that up. I'm trying to get Degrasse to call in because this is the work of Degrasse and the Stefanik team. They've been hammering at this. Look at that purple haze. It's stunning that deep blue New York is rapidly becoming maga. Why? Because of the corruption, incompetence and outright theft of these Democrats that rule these big cities and destroy these states. You notice Newsom's not running on the California model for president. He's trying to be something else. And hocus at 30%, 36% approval, people think Stefanik can take her on. That's in the first year of a president's term, which is always, usually an off, you know, usually a tough election for the party in power, particularly when you control every aspect of government, because people are obviously never totally happy. So they're going to take it out the ballot box. They're actually saying now that you could win in New York, in New York State. This article is brutal. And Spearing's as good. He's like a Mad Boyle type. He's as smart as they come. This article is quite brilliant. What does this show? This shows that our policies are right. People. People have been under the boot of the radical Democrats and felt like they couldn't have any say so or saying, hey, no, guess what? We hate this. Is this not white working class and white middle class. It's Hispanics and blacks. Because they're all being destroyed financially and economically, culturally. And they're tired of it. They're tired of it. This is why. What does Scott Presser say? Pennsylvania is becoming the new Ohio and New Jersey. He hopes to make New Jersey the new. The new pencil, the make New Jersey, Pennsylvania. And you're seeing right here in the Tri State area. Look at that. This is why. This is why it's a constant battle. This is what's so upsetting about Texas. In Texas, Soros put almost $400 million into turning Texas blue. And they got kind of purple there for a while. And guess what's the pushback? It was grassroots. It wasn't the Bush hunter, wasn't Karl Rove, wasn't these guys. It was you. It was these incredibly patriotic Texans that got out there and did the precinct strategy. And the precinct strategy started to take over the party and had these huge knockdown drag outs. And so they impeached Paxson we won that Trump wins by 14 points. Are you kidding me? And drags Ted Cruz to a nine point win. Of course, Ted Cruz just came out against Trump's tariffs against taxon the wealthy. His true colors are showing through. He's a classic orthodox Republican. But in Texas, something deeper and darker is happening. The Bush, the Bush junta has already made a deal with the Democrats and they're passing crazy stuff down there. Crazy. And people are starting to go nuts, as they should. So here's our policies are turning New York our way. Texas, which people is the railhead of maga. The folks there have got to fight every day because the state legislature that they won works against them. Think about that for a second. Also at the precincts trade, I talk to folks all the time in these fights in South Carolina and in Florida and in North Carolina and in Georgia. Look at MTG's amazing tweet you put out yesterday about not running for Senate. I could go across the country the, the taking over these state parties by the precinct strategy in the, in the fights. I mean hand to hand combat that you've had to have with establishment figures. It's in every state. I talk to people every day. These fights are vicious because they don't want, they don't want. The vested interests do not want to hear from the grassroots. They don't want to hear common sense solutions because that would mean giving up their privileges. They're essentially rent seekers. They don't want to give that up. They're not prepared to give it up. You got to take it away from them. Not going to give it up. And you're seeing here, and by the way, Degrasse does call in. I want to get him up. He's trying to call me by phone. New York is showing you people that have been burdened by that in this super liberal media that in New York that just espouses what you know, this is so great. This so great. It never does any investigation and the budget deficits are massive and the taxes are out of control in the regulate. The overregulation on the economy is just unbearable. New York could be particularly upstate New York, it's just, it's a garden go up to Hudson Valley, the mountains up there, just incredible. Upstate New York just, just breathtaking in its beauty. It's like that whole Appalachian mountain chain that comes all the way from Georgia all the way up through and then in New York state. It's just incredible. A beautiful state. And those people feel like they're burdened and now they're going to revolt. But you have to have bold leadership. You have to go in and say, no, we're going to go, we're going to cut. And Albany is run like a bunch of Marxists. They got that thing so rigged. That is a rigged deal. A totally rigged deal. But you're starting to see it throughout the country at the same time. A state like Texas that we've done such a magnificent job on the fight in Texas, this is why 972 Patriot, Glenn Story and the team. It's the best phone service out there, bar none. Make the switch today. If you go to 972patriot or call or on email patriotmobile.com put the promo code Bannon in there or call and talk to an American citizen that's on the help desk that walk through the services they got are second to none and they're leading the fight down in Texas. And Texas is going to be a fight, folks, because Texas, I don't know, it's what, the fourth or fifth biggest economy in the world. Great people, great resources, just a great, great place. And they're not going to give it up. The people that control are not going to give it up just because you're grassroots and MAGA and say, hey, we want smaller government, we want less expensive government, we can't afford these deficits, we don't finance this debt anymore. Alex De Grasse, Charlie Spearing is as good a reporter out there. This is a blockbuster story. Obviously the Daily Mail thinks on a day where there's so much news worldwide, this is the lead story on the biggest website in the world. It's kind of jaw dropping. I mean, you've been preaching this gospel for a while and now it's been validated by an independent third party. Your thoughts as New York State shifts radically to the right, sir? Thanks, Steve.

[Dave Brat]

You know, it's really maga. That's what this is about. MAGA has shifted this. You look when President Trump stepped down the escalator as a New York Republican. Steve, as a New York Republican and ultimately we know in his heart he still is. Of course he's in Florida, like many New York Republicans who have moved down there. And it has really inspired and motivated a massive coalition. If you get into the weeds on that independent poll, it's working class, it's first generation legal immigrants, it's African Americans, it's Hispanics, Asians, you know, Chinese that are freedom loving, you know, in this country. I've worked with many of them that have helped expose, frankly, some of the CCP Influencers, which is massive in the New York State Democrat Party, by the way. And there will be a lot more to come on that as we dig in deep and get ready to fire Kathy Hochul in 2026, which is going to be probably one of the pinnacle races, regardless if, at least if I runs. And of course, he's publicly considering that it's going to be, I mean, you take down the Democrat Party in New York, it's. It's essentially the whole ballgame that's left on the field. We took back the country, we're battling that out. New York, which is the heart of the weaponization, the heart of the illegal and everything. I mean, Kathy Hogle walked into the Oval with the President, said, I control the judges because she does for the law here. That's how crazy everything is. So it really is MAGA that has done this. The margins have moved in New York city ever since 2020 with President Trump are not on the ballot. So there's this huge, you know, shift here. The Bronx was the largest shift in the South Bronx, where he did that famous rally was, I believe, the largest swing of EBONY zip code, you know, parts of the South Bronx. And so this stuff is what we've all been talking about. And the posse's been all over this. I mean, upstate New York, if we're going to win, we need to juice these numbers 10 to 12% more, which is no task, no easy task, of course, but we can if the President's coalition, which now is over 3.5 million votes in New York. I mean, there's millions of MAGA supporters. So it's just very interesting, Steve, how we're looking. I mean, I'm in upstate right now. Lisa's going to be campaigning down in the heart of Democrats in Albany today. There's hundreds of protesters lining up. We've got police. I mean, this thing is crazy. As this sort of rolls out and develops, I mean, the left is petrified of the prospect of Elise Stefanik running for dub, and they're throwing all the stops out to try to intimidate her. You know, with all these dark money groups protesting and showing up to everything she's going to.

[Steve Bannon]

But, you know, a lot of Degrasse, Degrasse. If you had, if you had in one year, in the next six months, Letitia James indicted, right, in a federal court for her mortgage situation, and Elise Stefanik take on Hochul for governor of New York, that would shatter. I mean, this would be one of the number one political stories in the world that we're assaulting. We're on offense, we're not on defense. We're on offense. And we're going to the heart of the Democratic Party apparatus, sir.

[Dave Brat]

Absolutely. I mean, Steve at least and I were just at Fort Tycoon Narrow. Good. Today, Steve, is the 250th anniversary of the no quarters Green Mountain Boys storming Ticonderoga. We were up there with America250 who at least had invited. They're doing the simulations. Next time we, next time we do one of these, we got to get real America's news of the war room to send correspondents and we, we would love you guys to be involved in the battles of Saratoga, which are obviously a year from now. But we were just up there. I mean, that was the first offensive victory, of course, in the Revolutionary War. And of course, you know, getting New York, you know, flipping York would be one of the greatest offensive victories since President Trump's election in 2016, of course, and the comeback obviously as well. But it would be huge. I mean, the numbers, I mean, people are fired up because New York is an absolute dumpster fire. This budget, the tax hikes, I mean, it is a Marxist hellhole. The government, they have more arrests and corruption in Albany State Capitol than anywhere else in the country. These guys are crooks. What's not the barrel and I mean a $10 million slush fund they slipped into the budget, Steve, to pay for James's lawyers. I mean, this is what people know what supports this. Democrats, especially hardworking traditional Democrats. I mean, this stuff is in your face. These people are in your face so bad. And it's time that we put a stop to. I mean, it's going to take $150 million, you know, $100 million minimum to move this ball forward that we're going to need to muster on behalf of Republicans in Naga. But there's a great interest, I think, from everyone involved. You know, the President cares about New York greatly, of course, because it is one of the strongest bastions for the.

[Steve Bannon]

Last New York City. New York City is the financial capital world. You got to free it. Degrasse. Where do people go today to your social media to keep up with Ticonderoga and everything you guys are doing with the protesters up there and taking the, the MAGA message to New York State, sir.

[Dave Brat]

So definitely people should tune in at for Ticonderoga. They've got the live stream. They're going to be streaming the reenactment. That's great. This is important for the history There at Fort Ticonderoga. That's gonna be great. You can follow me at degrasse81 on X getter Truth, the whole thing. Thank you so much, Steve. Thank you. The posse. Let's get this go and hit me up info at least for Congress. We'll get you guys plugged in the local stuff. A lot of people have been reaching out. We appreciate it. We see everyone around. We'll see people in Albany. Got 500 Republicans showing up. So thanks, Steve.

[Steve Bannon]

The United nations loss is New York State's gain. Thank you, Alex degrasse back to help us break down the tax bill Monday and Tuesday and next week we will also live stream Grace, I think we can get on this live stream what's happening up at Ticonderoga, the 250th anniversary. One of the early, one of the early victories in the revolution. Also where we got the guns that were able to help us win in Boston, which is coming up. Also short break. What if he had the brightest mind in the war room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets, Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, MoneyGPT, exposes how AI is setting the stage for financial chaos. Bank runs at lightning speeds, algorithm driven crashes and even threats to national security. Right now, War room members get a free copy of MoneyGPT when they sign up for Strategic Intelligence. This is Jim's flagship financial newsletter, Strategic Intelligence. I read it. You should read it. Time is running out. Go torickards war room dot com. That's all one word. Rickards War Rooms records with an S. Go now and claim your free book. That's Rickards War room dot com. Do it today.

[Unknown Speaker 2]

Here's your host, Stephen K. Ban.

[Steve Bannon]

Okay, we're going to have a lot of marching orders on Monday. They're going to do the markup on the tax bill on Tuesday. So we're gonna spend a lot of time on that. We don't need you worrying about some hard money lender has lent to someone who's not you on your title in your home, a second mortgage on your house, which is, let's say, 100,000 bucks you didn't get the cash but they want you to pay it off. How do you avoid that? Home title lock.com they have $1 million triple lock protection. What does that mean? It means 24 our seven day a week 365 coverage in the middle of the night or anytime. If anybody's messing with your mortgage or your title you will hear about it immediately. And if all else fails to stop it they have a $1 million restoration project with lawyers etc to make sure that you get your title back unscathed. And the horror stories here are horror stories not just with AI and not just for cyber which is huge but also nefarious. Lawyers, accountants, relatives Natalie Dominguez and the team hometitlec.com promo code Steve, just go check it out today, talk to her and the team and you'll see the the brilliance of all this very important now more than ever we need you at the ramparts because the ramparts we shall need you at also. Dave, Brad gave me, he's sending me some information. There are studies now the lords of easy money are coming up with studies about if we were not to be if we were back off the prime reserve currency because remember it's easier for the government to sell Treasuries and Wall street to be the brokers and the Treasuries if they're guaranteed, you know if we're the prime reserve currency of all the every transaction world's got to be converted into dollars. They're saying that at least the first guy Dave sent me 16% drop in GDP if we're not the prime reserve currency. I have not read the study but this is the type of propaganda you're going to hear now there's plenty of reasons we should be the prime reserve currency. There's plenty of reasons we shouldn't. We have to have a national debate on that. One thing we can't do is just stumble into people getting off it and then we're left holding the bag particularly with these deficits. We cannot finance these deficits. Impossible. Unless you're the prime reserve currency. Just it's impossible, mathematically impossible. And that's going to get the bond market is going to become a bigger and bigger player of telling the American people what they can do. We have to avoid that. That make sure you go to birchold.com the Rio Reset. Make that your weekend study. We we're going to drill down more and more of it the road to Rio every day or every other day we're going to have some sort of little special section of the show to explain this about how important this meeting in Rio is. You saw in Moscow had Lula from Brazil, she from China and Putin from Russia. That spells bricks to me. And they're up to no good. No good, no good, no bueno. Birchgold.com Bannon the end of the dollar empire and you get to fill a patching. It's not the price of gold. It's the process of what drives gold as a hedge. Not the price, the process. You can learn it all from Birch gold. Go do it today. Mike Lindell what's happened in England with I guess in England they shut you down. The left did. But in in the United States you used to ship a lot to Canada. The Canadians don't treat us so well. Is that correct? Because they're picking on President Trump for picking on the Canadians. They, they don't. You don't sell a lot in Canada. Why sir?

[Mike Lindell]

Because Trudeau back in the day but I don't know for about four years ago, maybe six years ago put a tariff on betting products including my pillow and they actually called me when they did this and put a 25% tariff on any betting products coming into Canada. It just put a put to a cult. I mean in Canada you're going to pay that much more for your for the products. And before that time Steve, it was if you were made in the usa, which my pillow was you can to let them in with with no tariffs. Then they changed all that. Trudeau changed that. So it was very unfair for our great president. Now is going to level the playing field and but in Canada we had a huge presence in Canada. It was all over. I was on all the TV stations like here all the radio, the box stores, the shopping network and it all got part of it was the tariffs and then part of it was when you went to cancel my pillow which they did a great job in England. We had a plant over there. They just attacked it and shut it down in January of 21.

[Steve Bannon]

Mike that's how Trump's fighting for the little guys. What else you got for us? Before you sell me a sell me a set of shoes sheets today.

[Mike Lindell]

You got you guys. And I'll have more details but I've been looking forward to this day for four and a half years. On June 2nd we will be the first my pillow and myself will be the first to go before a jury finally all the way to jury trial with these with the law fair that's been used in this country for voting machines and related Parties suing individuals and platforms. Everyone is settled so far. Their insurance companies make themselves. Oh well, still, we don't want to go all the way to trial. What if we lose? I'm in it for a different reason. Everybody. And I've been telling you that I want to secure our election platforms. I look forward to this day. It's June 2nd out of Colorado. I will be there every single day as long as it takes. And finally I will be able to tell the world what I, what I wanted to say way back when. And the media has suppressed it. We'll see who shows up. You think Fox News will be there, Steve covering it wall to wall? I don't think so.

[Steve Bannon]

So on June 2, where is the trial going to take place?

[Mike Lindell]

It's in Colorado. I believe it's in Denver where there were three weeks away. We've been prepping every day with the lawyers and of course, you know, for me, I'm going, I'm going. I'm happy. I'm going. Finally, finally. And they're going, you know, we could make, you know, we can make deals. I said there ain't no deals. This is what I waited for. This is what I spent tens of millions on. So we're going to have, we're going to have a Lindell tv. We're going to be there every day, all day long. And it's going to be people ask me, are you going to testify? Are you kidding? They're going to ask me a question, Steve. I'm going to give them a 20, a two hour answer.

[Steve Bannon]

Mike, Mike Lindell, we'll cover. We'll get you back on money and talk about and sell me a sheet for the weekend, bro.

[Mike Lindell]

Yeah. Where do we go, you guys? We listen to War Room past. When we had the percale line on sale, the closeout special, you all said could you do something with your premium Giza dream sheet. This is a war Room exclusive. I listened to you. My call center 4998, any size, any color, just for a few days. We're going to do this for you all out there. This split King's Cow Kings, King size, this is. They're over $100 a set. You all know that it's our president's favorite product. And if you so go to mypillow.com scroll down, click on Steve There you see those Giza Dream sheets. Get those. We're not going to put a limit on it for the posse. It's a war room exclusive. The my cross is 50% off. And you guys, if you buy $100 today, I'm going to match it $100 or more. I'm going to match it with $100 in free digital gifts. I promise you, you're going to go, whoa, this is amazing. Best gifts ever Use promo code War Room it's the only promo code that works in this country for these specials.

[Steve Bannon]

Michael and Dell, we love you. We'll talk to you On Monday, sir. MyPillow.com promo code War Room we're gonna be up on social media all weekend. There's a lot of work to do. We're gonna be doing it here in the worm. We'll see you back here Monday live, 10:00am Eastern Daylight Time, when you will be back in the war Room. Are you a yo yo dieter? You diet, lose weight, but gain it all back plus a few extra pounds for the effort. Then later you lose it again and regain it again and on and on and on. I think I resemble this. It's dangerous. Studies show that you can increase your risk of heart attack, stroke, type 2 diabetes and other health problems. Breaking free of your yo yo diet pattern is a main reason doctors created Lean. Lean is a supplement, not an injection, and you don't need a prescription. The science behind Lean is impressive. It studied natural ingredients target weight loss in three powerful ways. Lean helps maintain healthy blood sugar. It helps control appetite and cravings. And it helps burn fat by converting fat into energy. Listen, if you're tired of losing weight and gaining it back, if you want to lose meaningful weight at a healthy pace, Lean was created for you. Let me get you started with 20% off when you enter Bannon 20 that's B A N N O N [e-mail] that's code Bannon [e-mail] Bannon 20 that's two [e-mail] lose it and keep it off.

[Unknown Speaker 3]

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