Episode 4601: Big Beautiful Bill Passes Senate And Onto The House

Summary

Episode Summary: Bannon's War Room - Episode 4601: "Big Beautiful Bill Passes Senate And Onto The House"

Release Date: July 1, 2025

In Episode 4601 of Bannon’s War Room, host Stephen K. Bannon delves into the significant legislative progress of the Big Beautiful Bill, its passage through the Senate, and its anticipated movement into the House. The episode features insightful discussions with key figures such as Mike Davis, Batya Unger Sargon, Natalie Winters, Rachel Bovard, and Gail Slater, providing a comprehensive analysis of the bill's implications, the political landscape, and ongoing battles against big tech monopolies.

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1. Trump’s Stellar Approval Ratings Among Republicans

The episode opens with Steve Bannon highlighting President Donald Trump's exceptional approval ratings within the Republican base.

• Steve Bannon [00:00-01:38]:
  “63% of Republicans strongly approve of the job that Donald Trump is doing about five months into his presidency... Donald Trump is making history with the Republican base. He is more beloved by this Republican base than any Republican base loved any GOP president.”

• Mike Davis [00:39-02:45]:
  Discusses the historical significance of Trump’s approval ratings compared to past Republican presidents and underscores the effectiveness of Trump’s endorsements in GOP primaries. “The times Trump endorsed endorses won the GOP primary for governor and congressional races... Donald Trump is a winner in Republican primaries.”

2. Passing of the Big Beautiful Bill

Steve Bannon celebrates the passage of the Big Beautiful Bill through the Senate, attributing its success to strategic efforts by the War Room Posse and key Republican figures.

• Steve Bannon [04:19-08:33]:
  “This was a bulldozer win. Credit to President Trump, Senator Marsha Blackburn, Congresswoman Marjorie Taylor Greene, and the War Room Posse... by 5 o'clock in the morning, this went down 99 to 1, including the lead proponents voting against his own bill.”

• Mike Davis [08:33-10:38]:
  Emphasizes the bill's significance in restricting artificial intelligence advancements by big tech companies. “This was so huge... Marsha Blackburn has done an amazing job... It's a historic victory and it put the big tech oligarchs on notice.”

3. Battle Against Big Tech and AI Amnesty

The discussion shifts to the War Room’s ongoing fight against big tech monopolies and their attempts to implement an AI amnesty.

• Stephen K. Bannon [10:38-12:32]:
  Details the formation of the Internet Accountability Project and the Article 3 Project aimed at combating big tech giants like Google, Amazon, Facebook, and Apple. “We shut down their attempts at AI amnesty and are committed to protecting copyrights and fighting against censorship.”

• Mike Davis [12:32-16:27]:
  Highlights the importance of maintaining momentum against tech monopolies and the role of strategic deregulation and reshoring of manufacturing jobs.

4. Economic Models and Tax Cuts

Further discussion revolves around the economic strategies underpinning the Big Beautiful Bill, focusing on supply-side tax cuts and deficit reduction.

• Stephen K. Bannon [16:27-24:14]:
  Explains the economic model centered on unleashing American capitalism for growth. “This is a supply-side cut focused on production and capital investment... aiming to reduce the deficit from 6.5% to 3% of GDP.”

• Rachel Bovard [36:48-40:59]:
  Analyzes the bill’s impact on deficits, stressing that the majority of deficits will occur in the first five years. “In the first five years of the budget window, we will have significant deficits... assuming higher growth rates and tariff revenues.”

• Mike Davis [39:26-43:48]:
  Discusses market indicators supporting the bill, such as high equity markets and stable bond markets, indicating economic health and potential for growth.

5. BRICS and the Rio Reset

Natalie Winters provides an overview of the upcoming BRICS summit in Rio de Janeiro, emphasizing its goal to displace the US dollar as the global currency.

• Natalie Winters [15:00-16:27]:
  “As BRICS nations push forward with their plans, global demand for US dollars will decrease, bringing down the value of the dollar in your savings... Learn if diversifying your savings into gold is right for you.”

6. Key Contributions and Future Plans

Gail Slater and Batya Unger Sargon commend the efforts of key individuals and outline future strategies to combat ongoing political and economic challenges.

• Gail Slater [13:05-14:34]:
  Celebrates the first-year anniversary of the War Room, praising Stephen Bannon’s leadership and criticizing Democratic spending priorities. “Thank you, Steve. I know the Democrats are wasting $20 million to understand what masculinity is...”

• Batya Unger Sargon [46:51-49:40]:
  Expresses frustration with bipartisan failures to address immigration and healthcare, advocating for tax increases on the wealthy to support working-class Americans. “Supporting the rising taxes on the rich is supported by 80% of Americans... working-class people deserve a party that sees them as human.”

7. Energy and Manufacturing

The conversation highlights the importance of rare earths in manufacturing and the administration’s efforts to secure these resources.

• Gail Slater [24:14-26:29]:
  Announces the opening of a rare earth mining facility in Wyoming, marking the first in 70 years. “Rare earths are central to manufacturing industries, including automotive and big tech...”

• Mike Davis [26:29-34:07]:
  Stresses the strategic importance of rare earths in economic and defense policies, criticizing ineffective approaches by Commerce Secretary Howard Lutnick. “Rare earths are vital to reshoring manufacturing jobs and reducing dependence on the Chinese Communist Party.”

8. Closing Remarks and Future Content

The episode concludes with discussions on upcoming actions, including President Trump’s tour, arms shipment decisions, and future topics related to economic policies and international relations.

• Mike Davis [34:07-36:24]:
  Previews upcoming segments on arms shipments to Ukraine and President Trump’s activities in Iowa. “We'll cover the arms shipments, President Trump’s tour, and the ongoing Celebration of America 250...”

• Rachel Bovard [36:48-39:34]:
  Emphasizes the necessity of tax policy alignment with spending policy to address deficits and support economic growth.

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Notable Quotes:

• Steve Bannon [00:39]:
  “Donald Trump is more beloved by this Republican base than any Republican base loved any GOP president.”

• Mike Davis [02:45]:
  “Donald Trump is the key nugget. His endorsement is the key nugget in a GOP primary.”

• Gail Slater [13:05]:
  “Thank you, Steve. I know the Democrats are wasting $20 million to understand what masculinity is...”

• Rachel Bovard [36:48]:
  “Raising taxes on the rich is supported by 80% of Americans.”

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Conclusion:

Episode 4601 of Bannon’s War Room offers a deep dive into the legislative triumph of the Big Beautiful Bill, showcasing the unified Republican front supporting President Trump. Through strategic initiatives against big tech, economic reforms focused on supply-side tax cuts, and efforts to secure critical resources like rare earths, the War Room team emphasizes a robust agenda aimed at revitalizing American capitalism and safeguarding national interests. The episode also highlights internal debates within the GOP regarding fiscal policies and underscores the ongoing commitment to representing and advancing the working-class base.

Transcript

[Steve Bannon]

Okay, so we're going to look at the strongly approved numbers. So this isn't just Republicans who like Donald Trump. This is Republicans who love Donald Trump. And he's up like a rocket. Look at this. In July 2017, the strongly approved was 53%. That's pretty good. But look at where he is now. 63% of Republicans strongly approve of the job that Donald Trump is doing about five months into his presidency. Republicans love Donald Trump the way that Americans love Disney World. The bottom line is 63%. That is a huge, huge base. And of course it's just part of a Republican base in which about 90% of them overall approve of him, including the somewhat approves as well.

[Mike Davis]

I mean, every politician would like this number here especially to see it go up. How about compared to other presidents who were Republicans?

[Steve Bannon]

Yeah, it's history making. It's history making. What are we talking about here? So why don't we look back. We have all the presidents, Republican presidents going back over, over the last 35, 36, 37 years. What are we talking about? GOP who strongly approved five months in. Look at this. George H.W. bush. Bush 41, 46%. Bush 43, 59. You see Trump the first term, 53. But look at this, 63%. He beats all the other Republicans on the board here. And I was looking even back since Reagan. And get this, Donald Trump beats Ronald Reagan when it comes to the strongly approved five months. And of course Reagan was coming off that high after that assassination attempt. So the bottom line is Donald Trump is making history with the Republican base. He is more beloved by this Republican base than any Republican base loved any GOP president. Five months in. It is history making.

[Batya Unger Sargon]

It is a striking number.

[Mike Davis]

Tillis stepping down, stepping aside after President Trump threatened to primary him. The question is, how effective is Trump's endorsement? We know it can hurt, but how effective is it?

[Steve Bannon]

Yeah, okay, so you know, the bottom line is if you're a Republican lawmaker, you see this 63% you say, my goodness gracious, you do not want to go against Donald Trump because the Republican base is with Donald Trump. And it's not just the polling. We actually have the data to show that the Republican base is with Donald Trump. The times Trump endorsed endorses won the GOP primary for governor and congressional races. Look at this. 2024, 96% 2022, 95%. 2020, 98%. The bottom line is this 95% plus of the time the Trump endorsed candidate wins in GOP primaries and, and even in the cases where Donald Trump endorses a challenger to an incumbent, the majority of time that challenger wins. So Donald Trump is a winner in Republican primaries. You go against Donald Trump, to quote the movie Good Burger, you go in the grinder. Donald Trump is the key nugget. His endorsement is the key nugget in a GOP primary because he's historically strongly popular with the gop.

[Mike Davis]

This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. Reasons I got a free shot on all these networks lying about the people. The people have had a belly full of it.

[Natalie Winters]

I know you don't like hearing that.

[Mike Davis]

I know you try to do everything in the world to stop that, but.

[Natalie Winters]

You'Re not going to stop it.

[Mike Davis]

It's going to happen.

[Rachel Bovard]

And where do people like that go.

[Mike Davis]

To share the big lie?

[Rachel Bovard]

MAGA Media I wish in my soul, I wish that any of these people had a conscience.

[Mike Davis]

Ask yourself, what is my task and.

[Natalie Winters]

What is my purpose?

[Mike Davis]

If that answer is to save my.

[Natalie Winters]

Country, this country will be saved.

[Mike Davis]

War Room here's your host, Stephen K. Ban. It's Tuesday, the 1st of July, year of a Lord, 2025. I want to go to the airport and Mike Davis, who's about to fly out of town and we've got him only because there's a massive storm in the imperial capital, has delayed flights. Mike Davis, the big beautiful bill kind of lurched to its approval this afternoon. Already in the House tomorrow we know it's going to be a pretty big fight. We've got, we've got some pretty good clips. We'll play of some folks that said they're not terribly excited about this, but we'll all work through that. But one of the biggest things that was done was this was taking down the artificial intelligence from the tech Bros. You've done some more research this afternoon. How do we do it, sir?

[Stephen K. Bannon]

This was a bulldo, rabbit out of the hat win. And I want to give credit to these people in this order. I want to give the credit to President Trump who resisted tremendous pressure, tremendous pressure to back this AI amnesty and he didn't do it. And we. I want to thank Marsha Blackburn, the great senator from Tennessee, along with her fantastic staff, including Katie Lane, the chief of staff, who's my good friend, the wife of Bill Lane, who was an Article 3 project volunteer attorney for many years and now a nominee for a top Pentagon post, Congresswoman Marjorie Taylor Greene. MTG is a rock solid ally. Stephen Hay Bannon and his team and The War Room Posse. That is the secret sauce to all of this and the Article 3 project, of course, teaming up with the War Room Posse, we lit up the senate. We had 3,000 activists make over 9,000 contacts with their home state senators and we scared the hell out of them this was going to fail. At 2 o' clock in the morning, there were reports that the lead proponent of this amnesty thought that only three Republicans would defect. And by the end of the night, by 5 o' clock in the morning, this went down 99 to 1, including the lead proponents voting against his own bill. That's how powerful the War Room Posse is.

[Mike Davis]

Yeah. No, it also, it speaks to how radioactive what the ask was. This was so huge. The reason we fought this so hard is that, hey, this is just making sure AI is totally unchained. That cannot happen. You had a lot of things about the creators and the children and Marsha Blackburn has done such an amazing job on this, but it was not for Marsha Blackburn. Because here's the thing, this thing was so radioactive, everybody, including Ted Cruz, ran away from it. Okay? Ran away from. He's the biggest proponent of trying to get it done. Ran away from it. MTG and Marsha Blackburn and Marsh, Senator Blackburn staff that really went to the. And of course Mike Davis and all the Article 3 team, just incredible. War Room Posse Bill Blaster people were loaded up into that hammering, hammering, hammering, making sure the Senate offices knew that the people, the populist movement was awake here. And hey, we looked at this thing and we don't want it. We don't want any compromise. No two year. Because they had all kind of compromise. Going to be five year, going to be two. You're going to do this? No. How about this? Pull it out of the bill. And then when. And then when the President really had Marsha Blackburn's back, that's when you saw that this thing was getting pulled. And kudos to President Trump to finally making sure that he had maga's back. And it's a huge MAGA win. Now, there's a lot of people journalists calling Mike Davis and us all day. There's a lot of people trying to take credit for this. Let me be blunt, okay? Marsha Blackburn was a hero, stepped into the breach, would not take a compromise, had her staff working nonstop. MTG was saying she was not going to vote vote in the House. And the President understands the MTG is one of his fiercest defenders. And of course, Mike Davis, your team and all the war and posse, who just continued to pound with calls, text messages, all of it. And that's what it took and it's a historic victory and it put the Berlog archs on notice that you're just not going to get everything you want and you're not going to get it unfettered. You want to fight, we're prepared to fight. And you've seen Elon, you know, Elmo all day is, is tweeting and trying to get up in President Trump's face about nonsense. A guy who I might add didn't come up with one penny of cuts that he promised with a trillion dollars. Mike Davis this is so important and it gives us momentum. And look, we've got Andrew Ferguson's got Meta in court in under the FTC trying to break, trying to break Facebook up. You've got Google being broken up. Gail Slater, where do we go next? How do we keep this momentum against the tech bros, sir?

[Stephen K. Bannon]

Well, this is important because they keep going after this many, many different ways. We started the Internet Accountability Project, the sister organization Article 3 Project to take on these trillion dollar big tech monopolist Google, Amazon, Facebook and Apple. I started this with Rachel Bovard over five years ago. Gail Slater may have had a big hand in this, a good friend and an ally. And we took on these big tech oligarchs on antitrust, section 230 data privacy. We were laughed at. We were laughed at. They're not laughing anymore. We have. I'll break some news. The President of the United States just called me right before this call and he is very pleased with what we're doing in this fight. He knows that we're on the right side on these issues, whether it's judges, whether it's big tech. And sometimes he needs a reminder that these, these tech bros who pretend like they're his buddy after he won, tried to bankrupt him for non fraud. They worked with the Democrats to censor silency platform, cancel conservatives. They worked with Democrats to chase him out of office in 2020 with $400 million from Mark Zuckerberg and all the other tech bros at Google, Amazon, Facebook and Apple who helped rig and steal the election in 2020. President Trump remembers he faced four years of unrelenting lawfare, unprecedented lawfare from bankrupting him for non fraud, trying to throw him in prison for life four times for non crimes, trying to throw him off the ballot in several states unconstitutionally. And then President Trump's opponents tried to take off his head when they underfunded his Secret service protection twice. And so my job that the Article 3 project is to constantly remind the President and his team who are his friends and who are his enemies. And big Tech, Google, Amazon, Facebook and Apple are definitely President Trump and maga's enemies.

[Mike Davis]

Mike Davis, Great victory. We get so many ahead as tech and AI becomes such an important part of American life. From the schools and education, everything consumer, former government, military, all of it. We got to make sure that the people's voice, that the, the populist movement here has their voice heard and really listened to in this fight. So I just want to, I want to thank you. I want to thank you again. Just excellent work and the Warren Posse. So glad to jump in and assist and be part of the Article 3 project. So thank you so much. Appreciate you, brother. Where do people go for your Twitter to go to Article 3? We got many more fights ahead. A victory, but not the final victory.

[Stephen K. Bannon]

Yeah, remember, they're going to keep doing Big tech is going to keep trying to do this AI Amnesty to steal everyone's copyrights every chance they can. We stop them when they try to get a brief from the Justice Department saying stealing copyrights is fair use under the copyright laws. We shut that down. We shut down or they tried to get backdoor access to every copyright in the world when they fired the, the Librarian of Congress and the Register of Copyrights. And we got good people in there with Todd Blanche and Paul Perkins to protect the copyrights. They tried to do this AI Amnesty. These big tech bros are going to constantly try to go after copyrights, going after kids, going after conservatives. They don't care. They're just trying to make a lot of money and they don't care who gets hurt along the way. The Article 3 project and Bannon's War Room Posse, we're going to make damn sure that we're on guard and we're protecting this every step of the way. And you can go to article3project.org article number three project that. Org. You can donate followers on social media and the superpower of the War Room Posse is Action. Action. Action.

[Mike Davis]

Action. Action. Action. Thank you, Mike. You can now go get in line to board your plane and hopefully it takes off in this pretty bad storm.

[Stephen K. Bannon]

Thank you. Bye.

[Mike Davis]

The Imperial capital has been so hot. It was like 100 degrees last week. Very hot and very muggy. If you want to see Washington at its finest, today's one of the days. Natalie G. Winners is with us. Natalie G. Winners. Thank you. Welcome, welcome. Next man up, Natalie G. Winters. How you doing? Natalie G. Good.

[Gail Slater]

Well, before you interrupt me and tell me to hang on or that I'm your agent. I think I speak on behalf of the posse when we all say happy one year anniversary. I know that's typically a positive connotation, which I think holds true for you, but I think first and foremost, thank you to our audience. I think the last words I said before you returned, you know, we always say a republic if you can keep it. Well, a war room if you can keep it. And we. We certainly kept it when you went to prison. Thanks to our audience. But also I think I speak on behalf of our audience, frankly, the country, and I say thank you to you, Steve. I know the Democrats are wasting $20 million to understand what masculinity is, but I think they maybe should come by the embassy and talk to you because not only are you a real man, but you're a true patriot. I'm not paid to say this. It's all true. The audience agrees with me. So thank you from the bottom of my heart, showing me what it means to be a leader and giving me the chance to just host War Room and everything you've done for me. So thank you. And I know our audience thinks and so does our country.

[Mike Davis]

No, you. You guys stepped in the breach. Here's my operating instructions. Knowing I'd be gone for four months on a show that is four hours a day and two on Saturday. My total instructions were next man up. You'll figure it out. And they did. I was so proud of.

[Gail Slater]

You still owe me the phone call before you went to prison to tell me what to do when you. So let's not go back to prison. I know some people are tweeting about that today, but you still owe me that phone call.

[Mike Davis]

That's right. We may have something to say about that. Natalie G. Winters is with us. The big bill. Beautiful bill. Going to the house. Natalie's got a lot to say about this. We're going to deconstruct it. We're pretty packed for the next hour and 45 minutes. Stick around. You're in the war. And we got a team we're trying to track down in Brazil at the Rio reset. Birchgold.com stick around. You're in the war room.

[Natalie Winters]

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[Mike Davis]

Here's your host, Stephen K. Bannon. You know the framing of this bill. I don't, I'm not a fan the way it's been framed. What I don't am not a fan of and maybe some people think is effective. I just don't have to. But that's fine. Is the talking about the 1.5 trillion over 10 years. I think it's very confusing, very nebulous and plus it's I don't know, 89 trillion and spending over that time and those are cuts and it has some sort of mathematical meaning and the Congressional Budget Office takes that and there's a debate it has three and a half trillion. These numbers are so big they're such in the out years and they're confusing. I just like to step to the current President Trump and Scott Besson have an economic model that they've thought through. That economic model is to unleash the power of of American capitalism for growth to get growth back here. That's why it's called a supply side cut. As Scott Besson said on the show, I don't know, I think the first time he talked about it was in the spring of 2024. And what he said is that this is probably the last chance we have to get a supply side tax cut. It was really focused on production and capital investment in the generation of jobs. And clearly President Trump wants to extend the tax cut for the working class and middle class because not to do that would be catastrophic to their own personal financ. But obviously there was a little fight to extend for the wealthy. Obviously we said in the war room we shouldn't do that. We should have the wealthy pay at a 40% rate and that would actually bring down the deficit even more. And Scott would get from the 6.5% or 7% where we are now of deficit to GDP down to something manageable of 3%. One of the worst things about Elon Musk, he came in here with all this fanfare and let me be brutally frank and particularly for the Elon Musk fanboys, boys, please write this down. He found nothing, nothing. The USAID and all that. These were programmatic things that MTG and Eli Crane of people had fought for years. Okay, he got a little publicity. But about the key thing of waste, fraud and abuse to show us the. Remember the, remember the state of the. The state of the union or the joint of justice of Congress with all of the Social Security, you know, three and a half minutes of 200 year old people getting Social Security, they did not come back and give us one penny a fraud. The same with Medicaid and Medicare. Not, not that Medicaid is not rife with fraud. Not the Defense Department is not rife with abuse. That's what we kept saying on the show. Banging on the table. You got across the Pentagon. You get across the Pentagon. But of course he wasn't going to do anything because he's a government contractor. That left the political class off the hook. So we did not get all the cuts that we need in this. There's no doubt about that. However, given the circumstances, there's some good, there's definitely some good cuts in here. Right. But also you have a sensitive moment now where you just can't go into Medicaid like you used to because the lack of jobs for the working class and the lack of medical insurance for the working class means that you have to be very sophisticated about how you do this. But the key thing is what is the economic model going forward? And that is why. And Natalie's going to talk in a moment about rare earths and the centrality of race rare earths into the manufacturing production of not just the automotive industry, but virtually every industry we have, including big tech. The model itself says the President Trump in his first term had averaged 2.8% growth in those three years in the fourth quarter of 2019 before the Chinese really unleashed the bioweapon that we call the pandemic on the United States of America. His the gross was 3.4% in the fourth quarter. With blue collar wages rising faster than white collar wages, non college graduates, wages rising higher than college graduate. It was actually everything we'd fought for. Low interest rates, low inflation. He had kind of pulled off the trifecta. That's what he's trying to do today. But even more aggressive on the business cuts for capital investment, bigger write offs. You know, we write off everything in period zero to be very aggressive in bringing manufacturing jobs back. And those who are not going to bring manufacturing jobs back, he's going to have tariffs, you're going to have tariffs. And he said, hey, look, if Lutnick and Besson can't cut these deals, that's fine. I'm just going to send you a letter and that's what you're paying. So you have the combination of deregulation, which is deconstruction of the administrative state. You have trade relationships, tariff. If you're not going to come back, if you come back and reshore, then guess what? All that capital investment happens here. All the constructions happens here. The new jobs happen here. And in the ecosystem of factories. And this is where Lina Khan was an absolute expert. It's not just a factories, the whole ecosystem around it. This is what's called a virtuous circle. This is what a supply side cuts about. Is the supply side cut, tax cut Perfect? No. Once again, I would certainly like to do a substantial snapback just to the old rates for the upper bracket or set at a millionaire's rate at 40%, but Shazam. Yesterday. And we'll talk about when Bachi gets up here to pay for the rural hospitals. Think Susan Collins put forward a plan of like 25 to $50 billion. Eighteen Republicans voted for a tax increase on the wealthy. Now, I think the wealthy were over like 25 million bucks. Right? And for a couple of 50 million bucks. So it's like the super wealthy. But the Republican party actually had 18 senators in the United States Senate that voted to raise taxes on the wealthy. That is the beginning of. That's a little bit of dawn on the horizon, right? That when I keep saying about the sunlit uplands, you can see it way in the distance. That's a glimmer right there that people understand in this, in this shared experience we call the United States of America. Things like that are going to have to happen. So overall, is this thing perfect? No, it's not perfect. But does it get to the core promises and commitments of President Trump? Yes, it does not. Not all of them perfectly. But look at. And this is what I think I saw President Trump re energized today because he got out of the White House, he got out of Washington, D.C. he got away from all the madness of, you know, let's go, regime change in the Middle east again. He got down to deportations. And when President Trump is sitting there and he's saying, hey, I like the Florida gators I see in the motor around Alligator Alcatraz, but I'm thinking and hearing that maybe I'm going to bring in what, some African crocodiles and put them in the Rio Grande. That's the guy I voted for, right? That's he's talking about mass deportations. He's on it. He's energized. And now we're going to get to the House. I'm sure there's a spread between the bid and the ass will play some of those things maybe in the next block. But I want to get back to Natalie because this economic model is based upon the commercial relationships as other countries, trade tariffs reassuring manufacturing for high value added jobs. Talk to me, one of the biggest things between us and the Chinese, this is why they've had meetings in Geneva, other meetings in London. And Scott Bessant is in charge of this because the president says, hey, Bessants, my safe pair of hands to actually deliver something. Talk to me about rare earths, ma' am, the centrality of rare earths in the economy and what we're actually, the Trump administration is actually doing to make sure that we can have a manufacturing kind of super boom, ma' am.

[Batya Unger Sargon]

Sure.

[Gail Slater]

Well, I think another promise made and promise kept from President Trump. He obviously issued an EO in the early days of his presidency, basically fast tracking, trying to expand American rare earths, whether the actual procuring of them or the processing. And today it was just announced that in about a week, you're going to have the grand opening of really the first in 70 years of a rare earth mining facility out in Wyoming come to life, which is something that, like I said, we haven't seen for 70 years. It's a copper mine. It's the first, I believe, in 50 years, particularly that rare earth, like I said, in the state of Wyoming. It'll be a big event, sort of following the July 4th spirit. But I think to your point, so much of this comes back to the rare earths. Why do I say that? I think after the first trade war, right, the PRC really understood that they needed to change and shift their strategy to sort of fix for some of their shortcomings, of which they identified rare earths, the kind of vertical Integration from start to finish, the whole process, smelting or deep processing, whatever. And they did that right, with made in China 2025, really, rather than ratcheting up, they sort of combined made these conglomerates a lot of their rare earth companies. And I think this speaks to President Trump's sort of hemispheric defense policy. Right. But you sort of put that through the paradigm of unrestricted warfare. It's not just kinetic action. It's really like we said, these chips, the semiconductors name your, your item that we see not just in sort of the confines of military civil fusion, but being used just for typical everyday Western life. And the PRC certainly understands this. If you want to toss the article up on screen from the Wall Street Journal just a few days ago showing that the PRC is actually withholding the passports of Chinese sort of engineers in this field because they don't want them to leave, they don't want them to share the technology with the United States. And I think this is another called shot for the war room. Our, you know, intellectual betters over at Foreign Policy had a big piece up just today talking extensively about how rare earths have sort of been China's cudgel in this ongoing trade war. So I think this is a historic development. Of course, no real coverage from the legacy media on anything that this administration is doing on the rare earth front. But.

[Mike Davis]

Now. And so, Natalie, we got about a minute till we go to break. I want you to hang around for a few minutes. President Trump on the 2.8% growth, really, I think internally they think it would be higher than 3. This a big part of. If you haven't seen Peter Navarro a lot on TV lately, I think Peter Navarro is burrowed down into. Let's make some of these fundamental realignments we have to make so that CCP doesn't have an advantage on, on, on supply chains and on rare earths. And this thing, I can't tell you how huge is. Of course, the mainstream media is not going to cover it because it's such a positive thing for President Trump. And this gives, it has been a cudgel because the magnets, everything that's kind of made in automotive. And this is where people were saying, hey, we're going to shut down, we're going to have to shut down factory lines. This is a very big, important part of it. This is central. And this also shows you why this negotiation with the CCP has been so tough. And it also shows you why, you know, Scott Bessant is doing that one. I might also add that Howard Lutnick was unacceptable as Commerce Secretary yesterday in his pitching of the AI Moratorium. This is another guy that does not get it. He does not understand maga. It's all kind of, you know, phony maga. So you can sit there and oh, I'm maggot. No, dude, you're far from it. You're just too aligned with the Tech Bros. I understand you made your money beforehand with the Tech Bros. But it's not acceptable. This is why President Trump's got the Chinese Communist Party negotiation in Scott Besson's hands, not the secretary military of commerce. Hate to break some inside baseball. This is reality and why this rare earth is so important and vital to that negotiations. Short commercial break Back in the war room. Just a moment.

[Natalie Winters]

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[Mike Davis]

Here's your host, Stephen K. Bannon. Welcome back. The team is down, is heading towards Brazil. We're going to try to catch up with them. I don't think we're going to do it tonight, but tomorrow Philip Patrick and the team, we're going to talk everything about the bricks and this is why in going back and hitting reset about the actual model and I think of the secretary treasury and I think we're trying to get Scott on tomorrow. Also, EJ And Tony's going to join us. We had Joe Lavanier today who was spectacular. We had Dr. Stephen was it Myron on yesterday who's fantastic. When you start talking about the holistic economic model and Natalie just told you how hey rare earths is part of everything that he's doing in capital expenditure and reshoring then you can holistically look at this and understand the premise of their bet is that we can grow the economy at a faster rate than the debt's growing and therefore in that regard bring down the. Which is the key part right now. Deficits as percentage of GDP from 6.5% maybe even 7% down to 3%. It is not sustainable at 6 and a half percent. Scott Bessant would tell you that. Why is that? Because it means you have to sell too many bonds. And there's already this controversy in the Financial Times. They pointed out I think the Secretary treasury has done a good job of refuting it which they said the other day they're having a difficult time selling 20 years in 30 years just like the Japanese are having. One of the reasons that people are questioning all of the industrial democracies in the west including Japan of these business, the sustainability, these business models given deficits and given debt and given also demographics. This one of the reasons Japan's getting hammered right now. I think the Treasurys refuted that there are problem and one of the biggest tells we have on the big beautiful bill, one of the biggest tells that we have is the fact that the equity markets are at an all time high particularly the s and P500 which is the best, the 400 and the 500 are the best indicators much more than the Dow of the overall health of the equity markets of our economy. Number two, the bond markets are not throwing up on this deal. They're just not. There's relative common the bond markets, credits, you know it's tight, tight spreads. And I think the ten year treasury which was we've taught you kind of your whole economic life goes off that. Your credit card, your home loan, your student loan, your car loan, everything is predicated on that 10 year Treasury Treasury I think it's a 4.25% but it's been down. Inflation's down. The wages, particularly blue collar wages are rising. The pieces of it are coming together. And I realize there's a lot, there's a lot particularly if you break it apart, people don't like about it. But this is one time shot to get it all done to put it in the back of us and Like I said, it's quite complex. We're going to play some in a moment. Some of the guys in the House who you're very familiar with, some of the hawks, the deficit hawks that are not happy with where we stand. And that's going to have to be worked at 9 o'clock tomorrow morning. They're all called back tonight. 9 o' clock tomorrow morning. They're going to vote, they're going to meet, they're going to, I think, have a conference, then they're going to talk about a rule that they're going to have a rule vote. So strap in for the next couple of days. Natalie Winters, just the spirit I thought was great. President Trump getting out today, getting down to Florida. It was, you know, he's taking a tour, he's a builder. He's seeing something that's been put together in eight days. It's actually talks about the action that he's doing on the mass deportations gets him back into the sweet spot of something he's very focused on. The big beautiful bill got done, it got the Senate part was, was approved exactly in the middle of his talk. I thought it was fantastic. The what is the what's the energy or the fighting spirit around the White House today as you over the last couple days, as you because I understand everybody's been a kind of general quarters because avoiding and not getting sucked into by our ally, a major, you know, regime change war in Persia, ma' am.

[Gail Slater]

Well, I think there's sort of an inverse relationship right when we're, when we're covering deportations. Obviously the new media loves it. The legacy, my legacy betters don't particularly like it, though I did love your coverage this morning. But I think there, I have to say, was sort of an un I guess rather surprising, I think coalescence and really convergence between a lot of the new media outlets, media outlets and the legacy media outlets. When it came to everything that was going down in Iran, I think for all of the frankly, hype or meltdown that we heard about how new media was going to bring, you know, some new viewpoints into the briefing room and really shift the coverage, I really think we saw sort of a, you know, similar WMD style kind of propaganda narrative take over. And I wish that a lot of these new media outlets would have, I think, followed in war room's footsteps and held a stronger line on calling for the actual evidence, not just taking foreign countries alleged intel reports as gospel, but I think like I'm sure the American electorate, the people who elected President Trump agrees we should be focusing on mass deportations and not getting entangled in additional foreign conflicts. So I think for that reason, a much better day, not just in the press court, but probably the administration more broadly.

[Mike Davis]

Where do people go for your social media? Where they go for all of it, Natalie, because we've got so much work to do here on internal and just announced President Trump is signed that he's holding back arms shipments to Ukraine. We're going to try to get into that, maybe get some understanding of that in the second hour. Last time I remember President Trump did that, they impeached him. So hopefully, hopefully this was not done with a, with a phone call with Zelensky. But we'll find out, we'll find out about all of this. There's all kind of bombs dropping today that we're going to, we're going to, if we don't get to tonight, we're going to get to in the morning. Where do, where do people go for your social media, ma' am?

[Gail Slater]

Well, Natalie G. Winters, but more importantly, happy one year. We missed you. We're very glad you're back. And please don't go back to prison.

[Mike Davis]

Thank you. Next man up. Next man up.

[Gail Slater]

Next woman up.

[Mike Davis]

Besides the fact I had a dual next woman up. I say that in the most generic way of all. It was actually no biological.

[Gail Slater]

Maybe talk about that or only biological. Biological women.

[Mike Davis]

Yes. Well, they did this University of Pennsylvania day, I think has taken all the, the trophies and medals away from that. I think we've got some clips. Let's go ahead and play what we've got. I may jump in here because it may run a little long. I got Batya Unger Sargon is going to join us. She's done a great job and quite frankly, her alerting people to part of this Medicaid issue, I think Senator Schmidt and others took care of it. Let's go and let some of the.

[Rachel Bovard]

Responses play comes to things we disagree with when you just assume what is current policy rather than having us vote on said policy. I've seen a lot of messaging and rhetoric coming from very good friends of mine talking about how it's somehow anathema or accepting leftist dogma to say and to ask the question about a policy baseline about whether or not that is foregoing our responsibility to do the math. You can believe that the current tax rates that are X, whether it's for the lowest bracket or the highest, should stay the same. And I take on face value that many of my colleagues, the administration and my and myself included, would like them to stay at that level or even lower. That's my preference. But if you do that, you have to do math. What will be the impact then on revenue? And my colleagues, I think in the Senate in particular, because God bless the House, at least we created a framework by which we were trying to do dollar for dollar. I realized my colleagues on the other side of the aisle disagreed with that. But I want to give credit to the Budget Committee chairman for trying to hold a line of saying that there ought to at least be a connection, that we ought to at least say, if we're going to do the tax policy, at least do the spending policy. Have the courage and the fortitude to do what you campaign on. When you're talking about balancing the dang budget, don't just talk about it. Don't talk about balanced budget amendments and then go home and say, look at me, I got a balanced budget amendment vote. Did it fail? No. It failed. Yeah. Is it law? No. Right. But I mean, I got you your tax cuts, but ignore, ignore that. Inflation. That is a result of $37 trillion of debt. My colleagues in the Senate failed us. My colleagues in the Senate failed us. They sent us a bill knowingly using a policy baseline gimmick. They sent it knowingly and they sent it knowing that it was going to have increased deficits. Last question. I'm sorry, it's for my good friend from Texas who had. I don't really want to put on the spot here in a way that's beyond, I think, the core question, but this matters. Regardless of what one thinks about these policies and wanting to be able to have the economic growth. I want the tax cuts to be permanent. I want all this stuff. But is it fair to say that the lion's share of the deficits will be in the first five years of the ten year budget window? Is that fair to say?

[Mike Davis]

Yes, that's fair.

[Rachel Bovard]

Is that relatively irrefutably fair to say?

[Mike Davis]

It's irrefutable.

[Rachel Bovard]

To my knowledge, the only way to refute the idea that in the first four to five years of the budget window that we will have significant deficits to the tune of probably close to 2 trillion, 1.8 trillion even on a dynamic basis, assuming the Budget Committee's numbers, that you have to make up for it in the tail in the last five years of the budget window, the only way to do that, to the best of my knowledge, is to assume more revenue for tariffs and assume higher growth rates. So I think you have to assume I haven't done the exact math three to three and a half percent growth over 10 years, which I hope we have and we should aspire to get and tariff revenue at the rate that we currently are bringing it in or more which CBO has scored to CBO's math, 2.18 trillion. I just did that from memory, something like that. So be about 280 billion a year. So you have to assume that tariff revenue and assume call it 3 and a half percent roughly growth then you start to kind of wash out. What we're doing in Congress by our choice, everything we just said we're leaving essentially administration to go carry out if I'm characterizing anything incorrectly is anybody want to challenge what I just said mathematically with that I will yield back.

[Mike Davis]

Thank you, Mr. Roy. Ms. And all I would say is that okay, hang on, hang on a second. Hang on. I want to get to I want to get to Norman in a moment. This gets back to what I said, the reason we had Joe on here. And look, the administration has to do a better job of this. It's your program. It's got to be sold. And I think it's a disservice to the president. I think Treasury, I think nec, I think Mehran, we had him on yesterday. It's a very compelling case. You see right there, chips looking for the answer and they're not stepping up the answer. If you add all of this and I think the math is particularly with some of these cuts in additional things to be done in the tariffs at, you know, 300 billion a year or higher, which right now I think on track for 400 billion. The reshoring. Right. Occurring at the and we just had Natalie on here talking about that one of the underpinnings of reshoring is the is eventually the availability of processed rare earths. You've got the deregulation, you have the deportations and the and the restrictions are coming across to compete. So you got increasing wages. You've got all of this that even in the first five years the secretary treasury said it I want to if my team can pull the clip on kill me this morning, I think we might have played it that at the $5 trillion you're not going to hit it's a $5 trillion debt ceiling increase. We're not going to hit that. We're not going to hit that because in the down years you're not going to hit the 2 or over $2 trillion deficits. These structural cuts. And this is why what the Senate and people are talking about are in the out years. Chip Roy just, just absolutely nailed it. The thing we should focus on is the near term years period. 0 now to the fifth year and maybe even I'm a big believer in just this year, next year. Where do we stand? This is how you do turnarounds and this is a turnaround or recapitalization, whatever you call it, this is a turnaround. You got to look at this year and next year after that. You know, we'll figure it out. But if you don't make this year and next year work, then you don't have to worry. So I think Chip Roy is asking good questions. We have to provide and you have to be aggressive in providing the answers. There you got guys, I don't know, shrugging the shoulders. That's not how you're going to sell this thing. People have to understand it. It's a little complicated, but it's clearly understandable. Short commercial break Back in a moment.

[Natalie Winters]

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[Mike Davis]

Here's your host, Stephen k. Bannon Birch birchgold.com promo code Bannon make sure you go check it out. The end of the dollar empire. Get fully up to speed on this. The noise that they're making of coming up with an alternative currency, hopefully we're being able to thwart that with the, with these structural changes that we're making. Hopefully. I say if you had raised taxes on the wealthy, I think we got there. But make sure you understand it. It's much more than that. We talk about deficits, debts, all the nomenclature that you need to really understand. When Chiproy talks, you can at least kind of follow along. And this is very important because we're going to be fighting about money for a long time. This debt and deficits are a Central, Central issue. Birchgold.com into the Dollar Empire or Just take out your phone. If you want a quick study, they've got a free guide, which I love. Just take out your phone. Bannon B A N N O N. At 989-898, you get the ultimate free guide to the investing in gold and precious metals and all the methodologies from Birch. Gold in the age of Trump. It's not an era anymore. It's an age. An age of Trump and Harry. And at the top, talk about President Trump's amazing polling with the, with the base is incredible.

[Natalie Winters]

So, Bachia and Bachi, I'd like to.

[Mike Davis]

Keep you into the 6 o' clock hour because we didn't get you on early as early. I've been pontificating about economic models that I think need to be presented to the American people. You brought up something the other day that was very important. I think you went on a couple of shows. You were very upset about one particular item. And I think your voice was heard, it was amplified by other people. I know the worm and other people saying hangovers. I can. The parliamentarians like saying, you can't cut out illegal immigrants from Medicaid, but we're going to make that up by taking it from American working people. Senator Schmidt, the great Senator Schmidt of Missouri came out today and said, hey, look, he wants to put everybody's thing to bed. One point, I think 1.4 million illegal aliens who are on Medicaid are now fully off, not just partially off. What was it about that that upset you so much, Bach, that you would go around and really start to say, hey, if this thing passes, it's going to be a travesty.

[Batya Unger Sargon]

So, first of all, happy anniversary, Steve. I hope it's okay if I tell the war room posse where I was when I found out that you were actually going to prison as a patriot. And I was on a plane and I was on the verge of tears and I texted you and I said, what can I do? And you said to me, next, man up, as you do. And it was an honor to hear those words from you. So thank you again for your service and God bless. And just what a relief that you're here with us and what a service you did to your country. Yeah. So the reason I got so upset about that was it seemed to me in that moment that what we effectively had was two parties. One party that wanted millions and millions of illegal immigrants to be on the Medicaid rolls, and one party that was going to be kicking off millions and millions of American citizens, and neither party doing what the vast majority of working class Americans want, which is greatly reducing the number of immigrants coming into this country and greatly expanding access to affordable, high quality health care. I think there's this view in the sort of rhino version of the Republican Party from pre Trump era that sees health care as like a luxury or like spinning rims or something. You know, something people are like scamming the system in order to get. We should all want more people to have better health care because healthy Americans work and work hard and unfortunately a lot of hardworking Americans don't have access to high quality health, health care. And the thing Steve, that I don't understand is why do Republicans not get that most of the rich people in this country that they are now helping with tax cuts for the rich are Democrats, whereas most of the people who are working class, that is their base. There's like this real fundamental inability of them to understand the political reality right now that of course you understand because you've helped created here, which is that working class people deserve to have a party that sees them as human and is invested in their flourishing. So I feel really strongly about this. The raising taxes on the rich is such an obvious winning agenda item. It is supported by 80% of Americans. So I'm so confused about why this went down the way that it did and just so totally grateful for this platform that you have where you are instructing politicians to understand how to relate to their actual voter base.

[Mike Davis]

Batya, can you hang on? I'm holding six o' clock hour. I just tracked down Dave. Brad, I want to get you into this entire discussion because it was a seismic to have 18 Republicans even think of raising taxes on the wealthy. Wealthy, I know got Grover Norcross and the people that for years are saying it's absolutely foreboding. I think we're seeing a sea change on that. I think if we did the snapback for the wealthy for the top bracket, right? With top bracket is not wealthy, but for the top bracket from 37 and a half to 39 half percent, we would solve some of these problems, but I think we set up a new bracket at 40% for millionaires and above. I think that we could ultimately, you know, it's not perfect, it's not going to generate all the revenue we need, but it's directionally in the way we have to go. So just hang on. Dave. Brad and Dave Walsh is going to talk to us about energy because energy is so central to the Trump economic revolution. Mike Lindell, Tomorrow I can announce this is you're in. You're at the factory today, but tomorrow you will be in Washington D.C. we'll pick you up live from Washington. In the interim, sir, you're going to sell me. I want a special deal for the War Room Posse. What do you got for us?

[Mike Lindell]

Here's what we got. In light of the going to be selling product right from the White House tomorrow, everybody, we're going to announce that we waited all year for this sale, but we're going to do it a day early for the War Room Posse. And it's the 50% off or more sale for the July 4th. We're going to start it right now. And this is a war room exclusive too. So we're going to start it early. Celebrate you guys. If you go to the website, use that promo code war room and you see every all these products 50% or more off. You guys, these are the kitchen towels, the main, the main the usa, my pillows, the beds, the mattress toppers, everything site wide for the War Room posse using that promo code war room. And you can call 800-873-1062, tell them that you're from the war room policy that promo code war room and you get that 50% off sale early. Steve, it's going to bring have a great time in D.C. and I'm looking forward to coming on tomorrow with the White House right in the background there to celebrate the Fourth of July.

[Mike Davis]

Perfect. Mike Lindell in Washington State. Lyndell goes to D.C. we love it. Now you're going to meet the president. Want a full report tomorrow, other activities. The president's going to go to Iowa. Monica Crowley. This is for the kickoff of the Celebration of America 250. Monica Crowley is going to be on Air Force One. We're going to try to get Monica on the show tomorrow as the ambassador. Crowley, I should say, about protocol. Talk about what's going to happen in Iowa at the rally. We're going to cover that wall to wall on Thursday. Short commercial break. Make sure Birch Gold. Take out your phone. Text Bannon at 989-898 to get the the Ultimate Guide for Investing in Gold and Precious Metals. Stick around another hour of the War Room.