Transcript
Steve Bannon (0:13)
You know, when you say that we're.
Laura Loomer (0:14)
In a, when we're in a period of detox, you use that word on CNBC last week. Is that a euphemism for recession?
Scott Bessant (0:22)
Not at all. It doesn't have to be because it'll depend on how quickly the baton gets handed off. You know, our goal is to have a smooth transition. But I tell you, Sarah, the easy thing, the easy thing for us to have done would have been to come in and just keep this massive spending level going. And it's unsustainable. But could we have kept it going for a year, two years, maybe even four? Maybe, but you're risking a financial calamity. So, you know, we are trying to get this tax bill done. We are the controlling expenses. And when we get the tax bill done, so if you can change the trajectory, up revenues, up economic growth, hold expenses flat, or do the unthinkable and cut expenses, then that's, that's a pretty good trajectory on growth. And you know, if we go back to the model in the 90s, that's exactly what happened. You know, we'd see interest rates come down, we'd see the private sector take up the slack from the government because right now we have excess employment in the government and that those people can be moved to the private sector. As I told the Business Roundtable yesterday, as I tell your viewers, what we're trying to do is create economic certainty. We're going to do it with the tax plan, we're going to do it with deregulation. And I also said to the business round, I think it was 135 CEOs yesterday. If you came out with a plan similar to what Doge wants to do with the federal government, all your stocks would go up 15 or 20%. It would be considered a miraculous restructuring, cost savings and put you on a sustainable course. So I think we're not getting credit for this yet. I think we will.
Steve Bannon (2:10)
This audience ought to be very proud because that individual is the Secretary treasury at the exact moment that we need him as Secretary treasury because this audience got, came on here a couple of years ago, started talking about capital markets are talking about interest rates, growth, supply side cuts, the debt, issues with the debt, et cetera. Everything you're hearing today, excess regulation. And thank God we have Scott Bessant as President Trump's wingman in a time like this. Matt Boyle, national political editor of Breitbart, you're actually at the Treasury Department. You just finished an exclusive interview with the Secretary of Treasury where in the treasury, are you, sir?
Matt Boyle (2:53)
We are in what's called the Salmon Chase Suite. This name for then Secretary of Treasury Salmon Chase, who later became the Chief justice of the US Supreme Court, who, along with President Abraham Lincoln in this room right here, saved the Republic during the Civil War. It's here where they developed the greenbacks, right. Like, they developed, maybe not the best idea, but the irs, but also the Bureau of Engraving and Printing. But it's here where the modern currency in the United States was and our monetary system was formed and was formed by the Union side to win the Civil War against the Confederacy. And so, you know, this was one of the major moments in Treasury Department history, obviously right next door to the White House. And so I, you know, I found it fascinating that we did this interview here because, you know, it's one of the major moments that faces the country right now because we're about to enter a new golden era of an American economy thanks to President Trump and Secretary Bess and the policies that they're doing. So that's what we talked about, right? Like, it's like, you know, this is another huge moment in world history.
