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Stephen A. Smith
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Chris Cuomo
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Bill O'Reilly
Okay, first of all, it's Stephen A's world. We just live in true squirrels at best, every day, every way. You can't get away from the man. And if you try, he'll come to your house.
Chris Cuomo
He's even on my soap opera.
Bill O'Reilly
He's ever everywhere. It's Stephen A. And it should be okay. It's a good thing for the country.
Chris Cuomo
You see how he holds the gun.
Bill O'Reilly
So thank you. The the bill spending and tax is very important for the Trump administration for one primary reason. It holds the tax rates where they are. The Trump administration believes that if the bill fails and taxes go up automatically, which is what would happen, that the country will enter a recession and that Donald Trump will be doomed by that recession. That is what this is all about. Now, you can pick it apart. It's easy to do. Elon Musk doesn't like it. Thibodeau doesn't like it. For the Knicks, you know, no one likes it whatever.
Chris Cuomo
Republicans don't like it.
Bill O'Reilly
What Americans need to understand is it's all about for the President averting a recession. He wants to keep the tax rates the way they are. And that's everything in this bill. One other thing, you were pretty fair in your encapsulation of the Bill Cuomo. But the CBO also issued today a projection that the tariff money coming to the USA will cover the 2.5 trillion deficit over 10 years. That has not been reported by the dishonest media at all. At all. In fact, I watched CNN at 7 and I thought we were going into a depression. I was. It was like, oh, my God, we have to sell everything because it's going to be Hooverville again. That's how they're doing it.
Chris Cuomo
Right.
Bill O'Reilly
So I don't know. Nobody knows.
Chris Cuomo
But no, I'm just saying that's what I mentioned.
Bill O'Reilly
Issue.
Chris Cuomo
That's what I was talking about when I said taken at its most generous.
Bill O'Reilly
Yeah, but you didn't mention it.
Chris Cuomo
That's what the CBO score was based on the original tariffs, which have already been changed. But I don't know how good. You know, to me that's a straw man argument because they already changed that number. But.
Bill O'Reilly
Well, some are up, some are down. Okay, some are up, some are down. But that should be on the record. You wouldn't argue with that. And the dishonest media in this country, which has now reached scandalous levels, all right, just ignores it because they want Trump to fail, they want the bill to fail, they want Armageddon in this country. That's what they want and that's what they're going to push to get.
Chris Cuomo
Well, Stephen, I want you to weigh.
Stephen A. Smith
In here first of all.
Chris Cuomo
And that recession part also, what you're hearing about that, what you feel, but please go with it. And congratulations.
Bill O'Reilly
Well, the first.
Stephen A. Smith
Thank you so much. I appreciate it. First things first, I know. Bill O'Reilly, hold on to this moment. It's a rarity, but somebody's going to be on national television actually saying, we missed you, my man. I mean, you were going a little bit too long. You were going a while. I mean, we missed you. It's good to see you again. You look good after that long trip. Okay. So welcome back to the States. Having said that, let, let, let. When you bring up the cbo, I mean, I'm going to bring up the cbo and I'm thinking about the fact that they're talking about 2.4 trillion more dollars added to the deficit over the next decade, approximately 11 million people without health insurance. Here's where I'm coming from with it. Obviously, you guys know the numbers, you know the intricacies that come along with how this stuff comes into play. What, what the House is going to play with what the Senate's going to play with what Trump's motivation as the president, United States is at this particular moment in time. But that is what you have to understand. Most people are skeptical about because they ain't been around doing this for 50 plus years like Bill O'Reilly. They ain't been some bestselling author writing around the history of presidents and the history of America for all of these damn decades. They're not as astute in terms of what the issues really are, how it affects the average American the way that a Chris Cuomo does. So all they got to go on is that we've been hearing all of this noise about this $37 trillion debt that we have and how we've got to chip away at that. We've been hearing wor words like inflation. We've been looking at the job market and wondering when that's going to improve, because I think the numbers show that only 37 new, only 37,000 jobs, you know, were basically created in the last month or so. And it was projected to be about 110,000, but the number was 37. When you hear stuff like that. And then Bill O'Reilly comes on national television with Chris Cuomo and he's saying, look, this is about Trump and keeping those 27, 2017 tax cuts in place, making sure they don't expire so we don't spiral into a recession, you know what people are hearing, he doesn't want that because it'll make him look bad. And that'll ensure that he probably, you know, he won't be in a position to help the GOP as they move towards 2020, 26 and definitely 2028. And they're thinking along the lines that once again, with sacrificial lambs as American citizens stuck in listening to and being at the mercy of some of these decisions that at the very best seem questionable at this moment in time. That's all I'm thinking about when I listen to what you had to say, Bill, just now. I'm not challenging you and what you're saying, the veracity of your comments, how accurate you are about. I'm not challenging that. I'm just saying the perspective that you peel from it upon listening to that stuff leaves you a bit, shall I say, just disheartened that, you know, when's progress going to be made? When is definitive progress going to take place as a opposed to us hearing about projections and what other people's agendas are? And it doesn't seem like the American citizen seems to be the priority that it needs to be.
Bill O'Reilly
All right, well, look, Dusty has to take a break because News Nation needs money to pay Cuomo salary. But when we come back, I'll set you straight, Stephen A. So get a notepad, get a pen, and I will just tell you exactly what's going to happen.
Chris Cuomo
I'm betting that that pen's gonna be gold.
Stephen A. Smith
This Chris. Chris, this from the man who told me to read up about the Yalta convention.
Chris Cuomo
Oh, yeah, I did it.
Stephen A. Smith
And then he never brought it.
Chris Cuomo
No, he never brought. That's what he does. He's very slick. He's very slick. That's why they like him in China. All right, well, why was he really in China? Why was he really in China?
Stephen A. Smith
All right.
Chris Cuomo
4 minutes and 35 seconds. We come back more with Stephen A. Smith and Bill O'Reilly. Get out your pens and paddle. All right, welcome back. A quick reset. I'm with Bill O'Reilly and Stephen A. Smith. Before the break, we were talking about the big, beautiful Bill. Stephen A. Smith's concern is. Sounds like you guys aren't the focus again. It's all about a political cover play. Bill O'Reilly had said no, this is about President Trump being worried about a recession. And people should know that there's a chance that the tariffs could cover any tax revenue shortfall. Now, did the CBO say that? Yes, the. But based on what? Assuming that the original tariff structure stayed in place for an extended period. It's already changed twice. We don't know how long it will be in play. But what we do know is that small businesses all over the country are getting crushed by paying 100% more for things that they were paying for three months ago. So the pain is real. Is the promise coming? That's where Bill O'Reilly wants to adjust. Perspective.
Bill O'Reilly
All right, number one, I'm not seeing the pain. They just opened a new restaurant in my town and they're charging. Small businesses are feeling for a cheeseburger.
Chris Cuomo
Small businesses are feeling it.
Bill O'Reilly
All right, well, fine. Stop, stop, stop. I'm not seeing a mess. No, no, wait, wait, wait. Oh, wait. I'm not seeing a mass amount of pain. And the data doesn't back it up. The data of bankruptcies doesn't.
Chris Cuomo
Bankruptcies spiked and spiked in the last month and.
Bill O'Reilly
Okay, then give me the data, because I don't have.
Chris Cuomo
I'll give it to you.
Bill O'Reilly
Number two, Ben, Google it.
Chris Cuomo
Send it to me.
Bill O'Reilly
If it's true. If it's true that there is massive pain, which I'M not buying because there's no data to back it up.
Chris Cuomo
There is that.
Bill O'Reilly
Then there's going to be more pain. Then there's going to be more pain if the bill doesn't pass because then consumers, they're just going to pull back. Joe Biden at four years of a good stock market, a relatively stable economy and it wasn't too much fluctuation and that was driven by consumer spending. And here's Mr. Carter for Stephen A. Smith. I'm Mr. Carter. Okay. When you have consumers spending money or when they stop spending. Well, you horse. But Shaq wouldn't be the name that I use. Horseshoe Washington. And Stephen A. Chris, don't give him an out.
Stephen A. Smith
So I want to hear what he.
Chris Cuomo
Has ready for him.
Stephen A. Smith
Go ahead.
Bill O'Reilly
Thank you, Stephen. Shut him up. When you have consumers spending money, the economy is ok. If taxes go up, the wealthy and everybody else by the bill failing, then consumers are going to spend less and a recession is going to happen. It's impossible to predict how bad or whatever. It's like predicting the new Nick coach. Who's going to be the new Nobody knows. Everybody's got an opinion. Okay, Number two, this Medicaid people are going to have no health care. They're in the streets, they're going to be dying children. This is all a big bunch of bull. All right? All they want to do is say if you are able bodied, all right, and you can work, you need to look for work. And if you don't, you're not going to get Medicaid. That's reasonable. It's absolutely reasonable. Okay. Because states like California and Oregon are using Medicaid money. Stephen A. They're using it for violin lessons. Okay? There are no standards. The feds pump the money in. The Medicaid programs are developed by the states, the far left, progressive states just take it and waste it like crazy. You tell me this doesn't need to be revamped. Yes, it does.
Chris Cuomo
Okay.
Bill O'Reilly
So that propaganda doesn't fly. Okay. And the final question, and this is probably the most important, is that we live in a country of confusion right now. All right, so Cuomo says he has data about the last month and no.
Chris Cuomo
Business corporate bankruptcies in the first quarter were the highest they'd been since 2010. I'm telling you the pain with small businesses is real. They don't have the pockets to pre buy inventory the way the big shop.
Bill O'Reilly
An economist can just as easy lay that on the Biden's last year as Trump's first three months. It's simple. Okay, but I'm sure But it would.
Chris Cuomo
Be, it would be irrational.
Bill O'Reilly
That's all you have to be. You have to be in your opinion it's not irrational if there's some economist that says look, Biden mismanaged the whole thing and then in the first three months of Trump it all came to bear. That's not irrational from the tariffs.
Chris Cuomo
Bill.
Bill O'Reilly
All right. It's your opinion.
Chris Cuomo
It's not an opinion. Were lower during Biden's last quarter than they were during this first quarter. But go ahead. Let's get we could even the economy.
Bill O'Reilly
Is in day to day. The economy is day to day is.
Chris Cuomo
A connection of build in a day to day that creates trends over time and the tariffs huge over time that spooked cost structures and spooked consumers and spooked investors and that's why everybody's adjusting their projections for two things could be true, Chris.
Stephen A. Smith
Two things could be true.
Chris Cuomo
Yes.
Stephen A. Smith
Two things could be true. Two things could be true. Chris, you could be absolutely right with what you're saying and I don't doubt it. But Bill is right when he says a lot of this is over a period of time. And so, you know, you often see people looking at administrations as they're saying we're going to judge through the prism of history. Why? Because in the immediacy of the moment, you might not be able to deduce what's finite factually correct and incorrect. Bill, let me get back to you. Here's what I would say to you. We started off the show with you congratulate me on a new deal about SiriusXM and Chris has brought it up and me signing with espn. Well, you know what, those things just happened a couple of months ago. The kind of success that I'm enjoying at this particular moment, Bill O'Reilly has been enjoying for decades. For decades. Okay. You've been number one for 16 plus years. Number one. That's what you show. We didn't get into the best selling author and the number of books you did as a best selling author and touring the country and giving speeches and getting invited to China for statesman there. And they want to hear what you have to say because everybody knows that you're connected to the president of the United States. He wouldn't have on this show when we did the town hall if it wasn't for you. So we understand that. Bill, are you willing to concede the fact that that is your reality, that dare I say data doesn't tell the whole story that you might be just a touch wrong. When you talk about the impact that it's having on American citizens, when you talk about millions of people that might lose health care, when you talk about social programs that are being eradicated and eliminated, when you're talking about a lot of these things. It's possible, Bill, that both things could be true, that you're right, there needs to be changes to the system and they're obliviating about what's really going to happen with Medicaid. That's true. But it doesn't mean that there's no suffering by the desolate and the disease along the way. People are going to suffer.
Bill O'Reilly
Number one, when Stephen A. You know this, you know this because you're a pundit in sports, you're going to be wrong sometimes. And number two, if you're going to revamp the entire federal government system, there's going to be suffering. But you do the right thing. The right thing. And the Trump administration believes. Did you know that Fast Growing Trees is the biggest online nursery in the USA? Thousands of plants, more than 2 million happy customers. They have everything your yard needs. Fruit trees, privacy trees, shrubs, more whatever plants you are interested in. Fast Growing Trees will deliver your dream yard right to your door. They're alive and thrive guarantee ensures your plants arrive happy and healthy. And this fall they have the best deals, up to half off selected plants. Plus my listeners get 15% off the first purchase with code BILL at checkout. That's an additional 15% off with code BILL@FASTGROWINGTREES.com again fast growing trees.com, code BILL. Now is the perfect time to plant save today with code bill offer valid for a limited time terms conditions may apply. Let's face it, the US Economy is under stress, national debt rising, trade war shaking the markets and meanwhile China is dumping the dollar and stockpiling gold. That's why I protected my savings with physical gold and silver through the only dealer I trust, American Hartford Gold. And you can do this. Get precious metals delivered to your door or place in a tax Advantage Gold IRA. They'll even help you roll over your existing IRA or 401k tax and penalty free. With billions in precious metals delivered, thousands of five star reviews and an A from the Better Business Bureau. You can trust American Hartford Gold as I do. Please call 866-326-5576 or text BILL to 998899 again that's 866-326-5576 or text BILL to 998899. That if, if the tax cuts passed in 17 do not continue, there will be massive pain for every American because the country will enter a recession.
Chris Cuomo
That's an opinion.
Bill O'Reilly
That's what they believe, right? Yes, it is.
Stephen A. Smith
But is it right? Hold on, hold on. That's what they believe, but is it right? Hold on, hold on. Wait. Is it right for me to ask you your opinion? Because best what? Bill, you have not been the star in media just because you've been some damn reporter and historian. You' divided perspectives. You haven't just challenged people based on facts. You've challenged them based on your perspective and what you believe. So I ask you humbly, how do you feel about that? How do you feel about what?
Bill O'Reilly
They feel that right.
Stephen A. Smith
They are. Do you believe that way?
Bill O'Reilly
I believe that consumer spending drives the American economy. Look, when I was in Beijing, it was. I was there one week ago tonight, and I had 13 of the hardest men you have ever seen in your life sitting across from me, peppering me with questions about not only President Trump, but America. And my essential message to the Chinese was this, if you don't cooperate with the United States, you are going to suffer. China is going to suffer. 1.5 million Chinese citizens are going to suffer. So you find a way to cooperate with the United States to avoid the suffering. It's the same thing here. This bill isn't perfect. Musk can tear it to pieces. I can tear it to pieces. Even Cuomo can tear it to pieces, all right, because it's a massive thing. But the key component is that the 17 tax cuts worked. And the Trump administration wants to continue.
Chris Cuomo
That they work for the top.
Bill O'Reilly
So I say it's. It worked for everybody. While unemployment was lower than.
Chris Cuomo
Not because of the tax cuts, lower.
Stephen A. Smith
Than 4, despite the.
Chris Cuomo
Under Trump, not because of the tax cuts. Tax cuts didn't pay for themselves. And until the pandemic and we dumped all that money into the economy, that's what it was.
Bill O'Reilly
I'm going to have to gag you, Cuomo, because you live in a world that you create under, under Trump's first term, working class wages reach record levels.
Chris Cuomo
Not because of the tax cuts.
Bill O'Reilly
Oh, come on, don't get upset.
Chris Cuomo
Don't get angry. Just make insights.
Stephen A. Smith
Hold on. Chris, Chris, Chris, Let me, let me, let me come from my perspective, listening to what Bill just said. In the 2017, you had the tax cuts in 2020. It was widely believed had had it not been for Covid, the economy was thriving and Trump would have gotten reelected. Right. We've all talked about that. Evidence of that, one could deduce, showed up in 2024 when he was reelected as the 47th president and he got more black voters than he had before or Republican had before, more young voters, more minority voters had won every swing state, et cetera, et cetera, because the belief was that the economy would be in a better state with him. So does that not make Bill's argument a bit more easier to stomach if we take into account how people were feeling about him because of what we saw from the tax cut in 2020 and what his status was in 2020 before COVID and how the fact that he ended up being reelected in 2024. Does that not make sense? I'm asking. I don't know.
Chris Cuomo
Of course it makes sense. Is there a perception? Of course. Is that why Trump won?
Stephen A. Smith
No.
Chris Cuomo
He won because the Democrats blew it. And if they hadn't had a guy who promised to be a one term president who was clearly in decline, as you and I and Bill were talking about long before it was common parlance, and then completely forgot that they're in a democracy and forced a candidate on people that had never been popular, they may have well won that race. But the idea that the 2017, 2015 tax cuts were a clear win is countered by the CBO who without the pandemic spending, says they did not pay for themselves and they heaped onto the deficit because of the lack of of revenue. And the graph is right in front of your face. I've enlisted the three Americans for the hour, right, left and really rich. The question of what to do abroad, what the law says and what is being ignored here at home while we fixate on the Iranian regime, Bill O'Reilly, Democratic strategist James Carville and the best dressed man on television, Stephen A. Smith. Good to have each and all. I know you take that part hard, James, but you go to the LSU garb a little too often for me to make it your distinction. Let me, let me start with you, Bill O'Reilly. We are told the president is weighing what do you hear and understand about the variables?
Bill O'Reilly
I don't hear much. I did text him and he did not answer, which is unusual. So what we have here is a conundrum. And Trump knows that if he launches military action, there are unintended consequences that will stem from that. But he doesn't know what those consequences are. The bluster about Iran attacking and doing damage. They're finished. My column on billorelly.com is the Muellers are done. They just don't know it yet. I think they may know it now. But I think the most important thing for Americans to consider is what is the right thing to do. We're being diverted by the usual dog and pony cliche on this isolationist versus evangelical Ted Cruz. Yeah, yeah. Well, I don't know. I mean, but it doesn't mean anything. What's the right thing to do? That's what all Americans should be asking right now. Doesn't matter who's president. So the right thing to do is to protect America first. That's the right thing to do. And then the second level of that is our ally Israel is in danger and our enemy, Iran is defiant. So I think we've given Iran an ultimatum. I know President Trump has, and I think that we keep that ultimatum. Because you're not talking about boots on the ground, you're not talking about an invasion. You're talking about bombing their nuclear capacity to dust.
Chris Cuomo
Right.
Bill O'Reilly
Which is a good thing. It's a good thing. So let's just keep it very, very focused rather than all of these ridiculous diversions, many of which are used to make money, which really angers me 100%.
Chris Cuomo
Especially when it comes to digital media. I mean, everybody's pushing agendas that are outrage based because that's how you get the clicks. James, let me ask you something. The Democrats here and Republicans in Congress, why are they skipping over the course question of who is supposed to make this decision when it comes to the American military? I just heard on the last show a Republican member saying, well, if it goes on long enough, then he has to come to us. That is not the law.
James Carville
Yeah. You know, War Powers act, people will interpret it a different way. Presidents generally interpret that they have freedom, that I tend to agree with, that they don't have. But I'd like to point out one thing that's missing here. This problem was solved. It was solved by President Obama. There were inspectors on the ground. We knew that they didn't have any nuclear weapons and they didn't have the capacity. Then President Trump in his first term pulled us out of the agreement. And now Tulsi Gabbard said in March that they're not close to a nuclear weapon. Who are we believing? I'm not saying they do or they don't. We believe in governments that, that after the whole Iraq war, are we just taking the government's word that this is there? I mean, not only should Congress be involved, we should have congressional hearings before we all off and start a war with a nation of 92 million people. Of which half have a college education and half of those are females. There are 12,000 Iranian students in the United States. 6,000 are studying engineering at our university. Subsidies. We better think about this. And we've got to think about where we're going from here because we're not giving it very much thought. And I agree with you, Chris, that Congress ought to sit here, whole hearings said, how much of a threat is this? They can do that in 72 hours if they wanted to. Stephen, a little questioning into this? I don't think so.
Chris Cuomo
Stephen, A. What do you see in this dynamic?
Stephen A. Smith
Well, let me just say this. I'm pretty pissed off because I'm listening to James Carville right now and I'm listening to Bill O'Reilly. And I have no question about their knowledge or anything. I'm not ticked off at them. I'm just saying that when James Carville sits up there and says this problem was solved, well, that's not the interpretation that we've received since Trump was in office. The first go round when we talk about our leadership being in place, you know, these guys are the experts. These guys know what the hell they're talking about. I'm a newbie to all of them of this, all right? I'm just an American citizen that votes, all right? And I'm paying attention to what's going on. So what's happening here? We have a situation where you've got Iran, there was supposed to be a nuclear threat. We have folks in the Jewish community where they're quoting Netanyahu from 2011 to 2014 to 2015 to 2018, saying the same thing he's saying now. And they're saying, well, what is true? We're looking at Obama. And just like, you know, when he talked about moving the US Embassy from Tel Aviv to Jerusalem, that's what Trump did, even though George W. Bush, even though Obama obviously did not elect to do such a thing. So clearly Trump is seen as being a bit more friendly to the Jewish community, to the state of Israel than Obama or Biden or even George W. Bush was. So when James Carville comes and he says, okay, this was solved, you have other people saying it wasn't solved. I'm not saying James Calvin is wrong. He might be absolutely right. But how the hell are we supposed to know? We're relying on our government officials. And here you are, Chris, you're hosting this show. And what are you talking about here? Who's going to make the decision?
Bill O'Reilly
What?
Stephen A. Smith
Who's going to make the decision? Who's the president of the United States, who's the commander in chief. And oh, by the way, you've got whether it's GOP or liberal members in Congress, in the Senate, these are our government officials that are supposed to be making the decision. And now you're telling me there's a whole bunch of people that's scared to make a damn decision. Well, how are the American people supposed to feel right now? I mean, we're sitting on the outside looking and relying on the level of expertise from these individuals, hoping their souls are in the right place, and they're doing what's in the best interest of this country and this world. And here we are on the outside looking in. And what we're being told by experts like Carville, like Bill O'Reilly and others is that there's trouble in making a decision. Well, by whom, why and when is that going to be alleviated? And if it can't be alleviated, how the hell are we supposed to feel good about the state of our country and its affairs right now? What the hell are we supposed to think?
Chris Cuomo
I got you. I like the question, Bill. Bill, I want to I'll give you the answer as soon as we come back from break. Let me, let me take the commercial bake. We'll come right back. Bill O'Reilly will answer the question of whom are we supposed to trust in this moment? Who should be doing the job? What should we believe? We're back here on News Nation with Bill O'Reilly, Stephen A. Smith and James Carville. James and Bill and Steven and I were just talking. Stephen A. Was lamenting that we're supposed to be able to trust the people we put into power to make these decisions. It seems like Congress is running away from their duty. The president is going through it while his base is fighting one another over what the right thing is. Bill O'Reilly wanted to say something right before the break. What was it?
Bill O'Reilly
Well, I want to reassure Stephen A. Smith because that's my job in life now. I have to reassure Stephen A. When he, he gets agitated. So Shortly after the 911 attack, Congress passed a resolution allowing the president of the United States to take military action against anyone or any nation that was using terrorism to threaten or harm the United States. That means that President Trump doesn't have to get congressional approval because Iran is a nexus of terrorism. And everybody knows that with Hamas and Hezbollah, you could litigate it, but the Supreme Court would absolutely side with Trump. So doesn't have to do it isn't going to do It.
Chris Cuomo
We don't know that.
Bill O'Reilly
By the way.
Chris Cuomo
That's an opinion, not a fact. Go ahead.
Bill O'Reilly
That is an opinion. But I will bet you many, many dollars, and Stephen will lend me those dollars if it comes to that.
Chris Cuomo
Well, I'll just say this. Congress disagreed with you. They. They finally got the House and the Senate to move against the 2001 and 2002. AUMF says no longer extant, no longer relevant. And Trump vetoed it.
Bill O'Reilly
And they didn't have the votes.
Chris Cuomo
I know, because he vetoed it.
Bill O'Reilly
No, it's still on. Okay. It's still on the books.
Chris Cuomo
Right. But I don't think. I don't think it applies. I don't think it applies because he got Soleimani because of Iraq. He was. Solemani was in Iraq. Soleimani was the general of the Quds Force of Iran. He was in Iraq. So there was a loophole in the 2002, and the big thing was Congress didn't give a damn. They abdicated power to the president. I think that should end.
Bill O'Reilly
And they're not going to litigate this either. All right, so on the deal that Obama forged here was the problem. United States didn't have inspectors in there at all. And the UN Was denied many times true access to seeing what happened. All right, so that deal was a fraud. It was bogus. People don't know this, but when Obama signed the deal with the mullahs and the Mullers was to pull back their nukes, Obama sent a plane, a private plane, under the cloak of darkness. Nobody knew about it. With $400 million in cash. In cash. It was a bribe. And then subsequently, $900 million more was transferred. Transferred by the Obama administration to the mullahs. Mullahs used that money to weaponize Hamas, Hezbollah, and to buy the components needed to build the nuclear weapon, which they started working on in an undisclosed location that Mossad discovered. That is the furlough mountain place that if President Trump launches, will be blown sky high by the United States. So all of this is very, very centers. Now, Trump pulled us out of the treaty because the Iranians were cheating. And then you had October 7th. That was the tip point for Israel.
Chris Cuomo
Right?
Bill O'Reilly
And Israel said, hold it.
Chris Cuomo
Okay, let me just give a little.
Bill O'Reilly
Bit of a good basis.
Chris Cuomo
Let me give a little bit of reporting that we're just getting from Axios, and then let's use it as grist for the mill here. This will confirm a lot of reasonable suspicions. And by the way, Stephen, A. I think. I think it's a confidence builder the president is asking for a level of assuredness about what the bunker busters bomb will do and how you'll know if you were successful. And that happens to be the right question because even though they have the capabilities of depth, you don't know unless you go in. And Israel is saying that they have their own human based plan as a follow up. So that's the state of play, which sounds to be reasonable. You can have your problems with that, but that's why they are taking their time and making the decision. James, let me bring you in on this about Bill's reasonable and not unusual criticism of what the Obama deal was, especially with the financing giving given back to the regime.
James Carville
Okay. We have reputations. We're going to be fact checked. It was called a joint comprehensive plan of action. It was negotiated by seven or eight different things. It was done in Vienna. It was widely assumed when he pulled out and I think correctly, that Iran was in compliance. That is in era. There were inspectors in Iran at the time. Now let's talk about the 400 million and 900 million dollars that President Obama sent to Iran. Do we know the story? Of course we know the story. That money was seized in 1979 when the Iranians seized our embassy. It was negotiated part of the deal that that money was being held in escrow in the United States. It would be returned. So please, someone fact check me. There was a joint comprehensive plan of action that was negotiated by multiple countries. They were inspectors.
Chris Cuomo
You're right. They just weren't. They weren't American inspectors. But everything else you're saying is right.
James Carville
Can I finish? And then you can say whether they. Hans Blix was not an American inspector. You know what? He was. He was right about Iraq. Swedes know how to do weapons inspection. Swiss do, Japanese do, Koreans do.
Chris Cuomo
I'm not disagreeing. I'm just saying. You said they were American, they weren't American. I'm not disagreeing.
James Carville
Go ahead. Somebody is and somebody is wrong here. Okay. And the money that was sent by plane was money that was seized, probably correctly.
Chris Cuomo
That's true.
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James Carville
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Stephen A. Smith
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Bill O'Reilly
To $15 per month required new customer.
Stephen A. Smith
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James Carville
See mintmobile.com it's in held in escrow. And it was a negotiated part of the settlement. It was a result of negotiations. And if we're going to go haul off and start a war, okay, with 92 million people, we better have our facts straight. The president better come forth and tell us why we're doing this. And you know, if you have bunker buster bombs, they're not an infinite supply. You may need them some other place too. I don't know all of this. And Tulsi Gabbard in March said Iran was not close to producing a nuclear weapon. That's our own intelligence service. So there's a lot of things to flush out here before we go. Why are we Chickadee Dee, let's haul off and start a war. We ought to think about it a little more.
Chris Cuomo
Stephen A.
Stephen A. Smith
If you support the Jewish community and you are adamantly against terrorism, and you witnessed what transpired October 7th a couple of years ago, how Israel was invaded and how Hamas did what it did and what sparked Netanyahu to take the kind of actions that he has taken then certainly you look at this situation with Iran, which has obviously been a sworn enemy that's been chanting death to Israel and death to America for the longest time, and you want them to be dealt with, you want to side with the Jewish community. The problem is that you see folks supporting the Jewish community who are Jewish and they're war hawks in a lot of people's eyes. And then you see others from the Jewish community that says this is not what we want, this is not necessary. And so who are you to believe when we bring in former administrations like Obama, like a George W. Bush, like others, and you say to themselves and you say to yourself, they're a bit different from Trump. And you see Trump being pro Israel in every way where he's siding with Netanyahu on everything. And Netanyahu is persistent, perceived as being an individual that at all costs does not mind obliterating the opposition. It is clear he does not give a damn when it comes to that. He believes that he is absolutely right. And he is rigid. He is immovable in terms of his thinking. I'm saying as American citizens, we have folks in the United States of America who are supporters of Trump pro Maga, as they say, who are adamantly against his position to support Israel. They're saying, what about us? What about America?
Chris Cuomo
He's got MAGA people calling to impeach him over this.
Bill O'Reilly
His own people.
Stephen A. Smith
Exactly. Exactly. So when you look at it from that standpoint, little old me and everybody like me, because I represent about 99% of the American population who don't know the intricacies of politics the way you guys do, we're sitting back and saying, will you make up your damn mind? We don't have a problem with America being looked out for. We don't have a problem with stepping our foot beyond being nationalists and getting global and having a globalist mentality and supporting our allies. But at what cost? How much money? How many lives lost? Are we making the right decision? And when those questions are still being asked and our own government is divided, we're not talking about left, right being divided here. We're talking about right being divided with right.
Chris Cuomo
Of the three of you, Stephen A. I know you were covering the Diddy situation. What do you make of my assessment that this jury was rejecting not just the facts and the facts in the case, but the prosecution's overreach?
Stephen A. Smith
Well, that's. That's a plausible argument. I'm not going to. I'm not going to deny that. It clearly appears that the prosecution did overreach. You had lawyers all over the place swearing that's exactly what happened with the Southern State, Southern District of New York. And there's no way around it. I mean, we heard some very disgusting things throughout the trial, things that I don't think from an image perspective, Sean Diddy Combs can recover from. But let me tell you something. He doesn't give a damn about that today. What he cares about is that he knows that the worst case scenario doesn't involve him spending the rest of his life in prison because sex trafficking and RICO charges he was. Were charges he was acquitted of. And so as a result of all that we heard, I just saw Ray J. Saying what he said. And the one point that I'd like to peel from that is that you do get, you do find yourself looking at the court system and in this particular instance, the Southern state of New York, Southern district of New York, and you find yourself saying to them you tried to convict them in the court of public opinion because you certainly succeeded in that. All of us look at him with more, far more than a raised eyebrow, but that wasn't the district attorney's office job. Your job was to get him convicted in the court of law. And you didn't pull it off because your case wasn't strong enough in the eyes of 12 jurors who said there's no way on ear they should send this man to prison for the rest of his natural life because you didn't prove a case of sex trafficking.
Chris Cuomo
Right.
Stephen A. Smith
Or racketeering.
Chris Cuomo
Right. And you know, it'd be one thing if it was the, even the district attorney. This was the, this was attorney general, this was the, the federal court. And for them to do it this way was a big swing and a miss. I mean, you know, he's a, he's a guy who did bad things and everybody knows it. But it doesn't mean that they met this burden. All right, so let's talk about perception and reality on another very big front of our budgeting process. James Carville, there is a notion that Bill O'Reilly will certainly defend tonight that you got to pass this bill or we will go into a recession. What do you make of that?
James Carville
Well, you pass it will probably go into a recession. If you don't pass it, we'll probably go into recession. I'm not totally sure it's related, but I think bill is correct. I mean, the Republicans don't have much choice and they got to pass something. I mean, they just can't pass gas. And when it's finally said and done, I don't know what it's going to look like, but it'll look like something. But there it seems to be a pretty tough boat count to face with right now.
Chris Cuomo
Bill, you say he has to pass this, but it seems that it is such a disappointment on the spending side that where is the win in this for Trump?
Bill O'Reilly
The win is that he gets economy will make Republicans win the midterms so he can have three and a half more years to do what he wants. As simple as that. I just want to say one thing about the Sean Combs situation. Sure. I interviewed him way, way back and I never liked him. I don't like the culture or anything like that. But he's going to get the Maximum. The judge will give him the maximum, just like they gave O.J. simpson the maximum in Vegas because he got off Simpson in LA when he clearly killed these two people. And then when he got a second crack at him on a minor beef relatively of theft, they sentenced him to heavy time. So Diddy will go to prison. And he said he's evil. And I say that because I just wrote a book called Confronting Evil. Yeah, he used narcotics and violence, narcotics and violence to coerce people to do what he wanted to do. That's evil. Sorry.
Chris Cuomo
Go ahead, Stephen.
Bill O'Reilly
Now back to Trump.
Chris Cuomo
Well, hold on. Steven wants to weigh in on what you just said. Go ahead.
Bill O'Reilly
No, no. Okay.
Stephen A. Smith
Only, only thing I want to weigh in. I don't want to castigate the entire culture. I'm tired of, you know, we see pictures of a few bad apples conducting themselves in very disgusting manners and thinking that that's the entire industry. I'm a guy that was raised in the hip hop industry. I know an abundance of hip hop artists and beyond who have never engaged in, never dove, never would think of putting themselves in the kind of positions some have obviously done. So I just want to make sure that we're not castigating everybody. I know you don't like the culture. I don't expect you to like the culture. Bill O'Reilly, you're considerably older than some of us. You look good, you're healthy, thank God. But, you know, but you, you from a different generation. I understand that. But for people like me who grew up in the hip hop culture, I know a whole bunch of people that would never even, that would never get themselves tangled up in such a way. A whole bunch.
Bill O'Reilly
It's not about personal behavior for the hip hop industry. It's about the message. And I'm old enough to now school you, Stephen A. If Motown still exists, and that's where I grew up, okay, the black African American culture would be a much, let's say, gentler. This hip hop garbage on impressionable children who don't have supervision in the home teaches them to be crude. Motown did not do that. So if you step back and look at history, excuse me. The industry of R and B was a tremendous positive for this country. The hip hop industry has been a tremendous negative for this country.
Chris Cuomo
Well, listen, I gotta say one thing, and then I want to move off this. We can do it another time, my kids.
Stephen A. Smith
We do it another time.
Chris Cuomo
As with Stephen A. When I think of hip hop, I think of Chuck D, who's a very good friend of mine and a mentor and a man of incredible integrity. I think of Tribe Called Quest. I mean, there are just so many great people within that culture. I get what you think about the message, but that's been said about music, you know, from one generation to the next, again and again. I'll tell you this, I'll tell you this.
Bill O'Reilly
You just read the lyrics as somebody.
Chris Cuomo
Of course I read the lyrics. I know the lyrics. I sing the lyrics. What I'm saying is, what I'm saying is this bill, you don't have to like it, generally speaking, but there's a lot of crude music. And as somebody with three kids who grew up in hip hop, in the hip hop era, as white kids, it has given them a cultural commonality that I think only benefits us. But let's put that to the side for now. There's an assertion about this bill, James, which is if you pass this bill, the tax cuts, which is what he's talking about, Bill O'Reilly, they will give us a strong economy because they did it the first time. Do you accept that premise?
James Carville
U.S. absolutely not. There is no evidence that cutting taxes on rich people does anything but explode the deficit. You know, I remember, Chris, you were old enough to remember in 1993 when we passed the Clinton economic passage, which, by the way, led to the most booming economic time since World War II. I mean, it's just, it's been proven so many times that the only thing that this is going to accomplish is going to put $3.3 trillion in more debt, which is going to cause interest rates to go up, which is the cost of cost of living to go up, which is to crush people. This bill is 25 points underwater and it's going to go deeper. It's going to drown a lot of people. I promise you, Bill.
Bill O'Reilly
The American consumer will have more money in his or her pockets if the bill is passed. If it's not passed, then the tax hikes can take effect at the end of this year, which is going to doom the economy. Now, if you look at what happened the first time around, and if you look at the tariffs, the exact words that James just used, spike of inflation and this and that, that was supposed to happen with the tariffs. Of course, that did not happen. So what I'm telling everyone is this, consumers drive the US Economy. The more money consumers have, the better the economy will be. If you take more money from them through elevated taxation, you're dooming the economy. And there are no cuts for the rich. All this does is keep what is which legislated in 2017, which were cuts for the rich. Well, it just keeps the cuts. Yeah, that's your opinion.
Chris Cuomo
It's not an opinion. It was a, it was 85 cents of every dollar of cut went to the top. I got it because I'm in that cut. I know exactly what it did. And now they're going to give me my salt taxes back, which I'm very happy about. But it's good for the top brackets. I know. I'm just saying I'm in the top bracket. I get it.
Bill O'Reilly
You're twisting it.
Chris Cuomo
I'm not twisting it.
Bill O'Reilly
Twisting it. The brackets will stay the same.
Chris Cuomo
I know.
Bill O'Reilly
That's what it will do. I know there's no more tax cuts for the rich. It's small businesses.
Chris Cuomo
It's not small businesses pass through.
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Bill O'Reilly
Yes.
Chris Cuomo
If you are very successful and make enough money with your pass throughs so that you're in the top bracket, which overwhelmingly most small business people do not. STEPHEN A.
Bill O'Reilly
It helps business. Well, Bill O'Reilly, go ahead. Yes, Stephen.
Stephen A. Smith
Bill O'Reilly. Bill O'Reilly, you know, I'm gonna do something I've never done on tv. I've got enough jobs, I've got enough of a busy schedule. But I'm going to make time to come on your show to debate you. Okay, about some of the stuff that has come out of your mouth this evening. This is, this is sensational stuff and it's good to see you, James. It's good to see you, buddy. Let me touch on this on a couple of ways. Number one, number one, when you talk about how it's not going to necessarily, it's not going to mean tax breaks for the rich. Well, Trump himself said it's going to be tax breaks for everybody across the board. That's what he's talking about, preserving the 2017 tax cut. That's number one excuse. That's what he said. It includes them. Now, let's understand this. Also, you're also somebody that wrote about how representatives are held hostage because guess what? But you said, notice that not one single Democrat has voted for the big beautiful bill. And now that Trump you saw against Massie and others. Right, because they're at the mercy of Trump because their careers will be ruined. Well, why are Republicans having a problem with this bill if it's going to give, if it's going to institute or keep the tax cuts in place, if it's going to be for a better economy, if it's going to stimulate the economy and help most Americans, why are the Republicans being resistant to Donald Trump? I didn't hear you address that bill. And I want to.
Bill O'Reilly
It's an easy. I wasn't asked the question, Stephen A. And it's an easy answer.
Chris Cuomo
It's my fault.
Bill O'Reilly
Okay? They want more cuts to government. Massie wants more. Rand Paul wants more. They bought Murkowski in Alaska. That's how it got through the Senate. They bought her.
Chris Cuomo
Yeah, they bought her.
Bill O'Reilly
She admits it. All I have to do is write for Alaska. They gave me all kinds of stuff. So I said yes.
Chris Cuomo
So she gets the pass with her constituents. It is.
Bill O'Reilly
Both parties are held hostage to the power of the party.
Chris Cuomo
The parties are killing us. The parties are killing us.
Bill O'Reilly
Trump, he's going to primary.
Chris Cuomo
The parties are killing us.
Bill O'Reilly
You go against Schumer. He's not going to. He's going to dry up your money. Okay. That's the way it is. It's wrong. Shouldn't be that way.
Chris Cuomo
You're right.
Bill O'Reilly
But let's live in the real world. And you'll get the real world, Stephen A. When you come on the no Spin news with your dopey tank about hip hop. I can't wait.
Stephen A. Smith
I'm looking forward to it.
Chris Cuomo
I will actually, I'll actually watch that one.
Stephen A. Smith
I can't wait.
Chris Cuomo
All right, Let me take a break.
Stephen A. Smith
Okay.
Chris Cuomo
When I come back, I want, I want Bill O'Reilly to explain to us what's going on with the administration's picks and what it means for where our course is forward. It's Good to have James. It's good to have Stephen A. And it's always good to have Bill. We'll be right back after this. I'm back with my three betters, Stephen A. Smith, James Carville and Bill O'Reilly. Good to have each and all of you. Thank you for joining me tonight and thank you for helping make possible what's on the bottom of the screen right now. I don't know if you guys can see it, but News Nation is the fastest growing cable channel year over year, and that's because we have the blessing of getting formidable voices who come on make us relevant. Thank you very much, James, Stephen, and certainly you, Bill. You do it most often and best way.
Stephen A. Smith
Hold on, hold on, hold on, hold on.
Bill O'Reilly
I'm interjecting.
Stephen A. Smith
I know it's not my show. I apologize, but I'm interjecting by saying this. It's growing to that rate because of you, Chris Cuomo, no disrespect to anybody.
Bill O'Reilly
Else in News Nation.
Stephen A. Smith
Don't get it twisted.
Bill O'Reilly
No way. You were just gonna say that.
Chris Cuomo
There's no way you were just gonna say that.
Bill O'Reilly
Cuomo.
Chris Cuomo
No, nobody believes. My own mother doesn't believe that.
Bill O'Reilly
Nobody else.
Chris Cuomo
No.
Stephen A. Smith
It's just one of the best.
Bill O'Reilly
You know how I know. Stephen A.
Chris Cuomo
Both Dusty. Oh, Dusty likes you. Now, that's the first time I've heard Dusty pay attention in the show tonight is when you just said that, by the way. Dusty's like, I love that. Stephen A. Stephen A.
Bill O'Reilly
You know how I, you know how I know that you're right, that it's all Cuomo? Because Cuomo told me.
Chris Cuomo
Listen, let me ask you something, and I think this should be a layup. I don't understand.
Stephen A. Smith
I want to hear from James, Bill.
Chris Cuomo
With all the people that you can get to come into an administration and to work, why this Ingracia kid when you know that bringing someone in like this to lead an independent agency of the special counsel, you know that this was going to get rained on because he is wacko adjacent. Why would you pick a young guy with no pedigree who does stupid stuff on a regular basis?
Bill O'Reilly
I've gone over this before, Cuomo, so take notes so I don't have to go over it again.
Chris Cuomo
Hold on, let me get my glasses.
Bill O'Reilly
President Trump gets right. He gets bored. So he says, how can I cause trouble? I taught high school, I had students like that in my class. They got bored. They wanted to cause mayhem. He's bored. He says, I'll do this. It doesn't mean Anything to anybody. But I know the press will go crazy. It's like saying I'm going to put crocodiles in the Rio Grande River. Okay, he's not going to put crocodiles in the river. But he knows the press will go crazy. He is bear baiting the media with this stuff. He knows it doesn't mean anything. This guy, I don't even know who he is. He'll go in, they'll give him an apple and a glass of water and he won't do anything. I can guarantee it.
Chris Cuomo
So James, office of the Special Counsel is usually seen as, you know, giving major opinions. Like for instance, the Special counsel's office is where we got the opinion that a sitting president can't really be prosecuted. This was their guidance from the 1980s. That's the office he's going to lead. He's 30 years old, likes Alex Jones, likes to defend white nationalists. Do you think this is just to own the media and get you guys crazy?
James Carville
So let me be very careful here. There's a guy that is appointed charge of counterterrorism at the Department of Homeland by the name of Thomas Fugate. Look him up. This guy looks like George C. Marshall next to Thomas Fugate. Now please, let's not say they had a counterterrorism. It's just a throwaway position because. But I've listened to people all the time about what a threat terrorism is. You have a 22 year old produce stacker that is running the Department of Homeland Security's counterterrorism division. Now you got this guy who's I think it was a Holocaust denier. You could not exist in the Democratic Party in any position if you were a Holocaust denier. I don't think you could. I know you would have any support from me. You would get no defense from me. And you'd say this is an outrage that this man holds any position in the United States government.
Chris Cuomo
I'm coming to you Stephen A. But I would point one thing out for the Democrats watching. In a most recent poll your party went from plus 14 points in terms of being empathetic towards Israel after October 7th to now plus 43 points positive for Palestinians in that balance. So there's a shift in that party's sympathies on that issue. But back to this. Stephen A. What do you think of this appointment? Is it a smart move by Trump? Cuz he gets us talking about something that doesn't matter.
Stephen A. Smith
It has nothing, it has nothing to do with smart or dumb. And James Carville, we're Aligned tonight, my brother. Just step aside, figuratively speaking, while I aim. While I aim my thoughts at Bill O'Reilly. I know you did just try to come on national television, Bill O'Reilly, and get away with this. Now, you know good and damn well what Trump is doing here. Here's what Trump is doing, y'.
Bill O'Reilly
All.
Stephen A. Smith
Excuse me, somebody. That was a part of the whole January 6th. Some people want to call it an insurrection, some people don't. What is Trump doing when he appoints this guy as a federal watchdog? It's the latest maneuver invalidating in his mind how much of a robbery it was that he didn't win reelection in 2020. And the fact that the insurrection took place in the nation's capital at the US Capitol. It's every single move he makes is the point that point to the fact he never believed he should have lost. He believes that them storming the Capitol was completely justified because it was more than egregious that he didn't stay in as the 46th President of the United States of America. And by the way, anybody else you see him appoint, they might have been at the US Capitol January 6th of 2021, too. Keep it. He's not finished. This is what he's trying to do. And you know it, Bill, because you know him. And I'm not saying. See, this is what the key. This is the key, ladies and gentlemen. Bill O'Reilly's not lying to you. He's not lying to you when he points out the other elements of Trump. But they're the most innocuous things. They're the kind of things that make you go, okay, all right. But the real juicy stuff that involves this man and his thinking. You gonna leave that out? Stop it, Bill. You know what he's doing.
Bill O'Reilly
Well, I couldn't leave it out.
Stephen A. Smith
We gonna see some more people from the US Capitol. That's on it. Oh, come on, man. Stop it.
Bill O'Reilly
You left out. Listen, he could be appointing you. Stephen A. Loves you, okay? You could get a big position in there. You're not wrong about that.
Stephen A. Smith
He is our president.
Bill O'Reilly
You're not wrong about it. You're not wrong about it. But it's tiresome. Trump pardoned all of these people, all right? What more do you want? He's sympathetic with them. Yeah. There's no denying it. Nobody could honest what you just said. Yeah.
Stephen A. Smith
You just talked about how he said he's going to get into the swamp even though you know he's not going to do it because it's going to annoy everybody. Right. He wants the reaction.
Bill O'Reilly
Right.
Stephen A. Smith
If you react on what he's doing with appointments like this, you might not pay attention to the tariffs, you might not pay attention to Ukraine and Russia. You might not pay attention to the big beautiful bill and some of the elements that exist within it. There's a whole bunch of things.
Bill O'Reilly
It's a, the only people tell me.
Stephen A. Smith
He'S beyond doing that.
Bill O'Reilly
The only people who would fall for that would be the MSNBC viewers. So, I mean, there's not very many of them.
Chris Cuomo
Let me, let me, let me take a break. When I go back, I want to talk. Go ahead, finish your point, Bill. I'm sorry. Finish your point.
Bill O'Reilly
Yeah. Smith is right about, about Trump's obsession with losing 20 and the Capitol riot. He's right about about it.
Stephen A. Smith
To watch the full episodes of the no spin news, visit billoriley.com and sign up to become a premium or concierge member. That's billoriley. Com. Sign up and start watching today.
Episode: BONUS: Three Americans Mixtape
Date: August 29, 2025
Host: Bill O’Reilly
Guests: Chris Cuomo, Stephen A. Smith, James Carville
This special "Three Americans Mixtape" brings together media powerhouse Bill O’Reilly, sports and talk host Stephen A. Smith, political commentator Chris Cuomo, and strategist James Carville for a spirited, wide-ranging discussion. The episode centers on the political power struggle over Trump's tax and spending bill, the economy's direction, media coverage of fiscal issues, America’s approach to Iran, internal party dynamics, and the broader crisis of public trust in government decision-making.
Bill O’Reilly emphasizes that the Trump administration’s primary motivation for the bill is to avert a recession by keeping the 2017 tax cuts in place. Failure, he argues, would automatically trigger tax hikes, potentially sinking the economy and Trump’s presidency.
Chris Cuomo notes bipartisan skepticism and critiques media coverage he sees as alarmist, yet acknowledges small businesses are suffering under the current cost pressures.
Stephen A. Smith provides a voice for the average citizen’s cynicism, questioning whether political leaders are really considering ordinary Americans:
Debate erupts over the extent of economic pain, particularly for small businesses.
Discussion expands to Medicaid reform, with O’Reilly supporting work requirements and accusing blue states of waste, while Stephen A. presses on the human cost.
O’Reilly: “Shortly after the 9/11 attack, Congress passed a resolution allowing the president...to take military action against anyone or any nation that was using terrorism...That means that President Trump doesn't have to get congressional approval...” (30:17)
Cuomo disagrees, noting Congress tried to repeal those authorizations, but Trump vetoed repeal, meaning they're “still on the books.” (31:34)
Debate swirls about the $400M and $900M that Obama sent to Iran as part of the nuclear deal; Carville corrects the record, saying this was seized money being returned as part of a negotiated settlement. (35:31-36:04)
The tone is confrontational yet familiar, with passionate disagreement matched by mutual praise and humor. The conversation shifts rapidly between serious policy analysis, jabs about media and generational differences, and reflective moments about public trust and citizen disillusionment.
This episode is a snapshot of American political debate at a contentious time. The hosts dissect the Trump tax bill’s rationale, economic anxieties, foreign policy uncertainties, and the dysfunctions of party politics—while warning about the American public’s growing cynicism. Lively, candid, and often humorous, the roundtable never quite resolves its arguments but lays bare the fractures—and stakes—of the current U.S. landscape.