The O'Reilly Update, May 30, 2026

Summary

Bill O’Reilly’s No Spin News and Analysis

The O'Reilly Update — May 30, 2026

Host: Filling in for Bill O’Reilly: Mike Slater
Episode Theme: No Spin. Just Facts. News analysis, economic and political insight, commentary on American culture, and a critical look at current public debates.

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Overview

In this weekend edition of The O’Reilly Update (with Mike Slater guest-hosting for Bill O’Reilly), the podcast delivers concise news headlines impacting the U.S., focuses on controversial debates about wealth and influence in American society, and spotlights current social issues in cities like Los Angeles. The tone is assertive, skeptical of progressive policies, and features pointed criticism of current cultural and political trends, boasting a fact-driven, direct approach.

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Key Segments and Insights

1. News Headlines of the Week

[01:43 - 04:37]
Mike Slater recaps significant national stories, ranging from international relations and the domestic economy to cultural and social changes in American life.

• U.S. and Iran Tentative Agreement:

  • “America and Iran have reached a potential deal on a 60 day extension of the ceasefire and agreed to launch fresh negotiations on Tehran's nuclear program. The plan still needs formal approval from President Trump.” – Mike Slater [02:18]
  • The proposed agreement would ease the U.S. blockade on Iranian ports and reopen the Strait of Hormuz, though outcome hinges on political challenges and the president’s approval.

• New Proposed $250 Banknote:

  • “The Treasury Department is preparing mockup designs for a new bill...the $250 bill that would feature the portrait of none other than President Donald Trump. Now, he would be the first living person featured on American money in over 150 years, unlikely that this currency will be released.” – Mike Slater [02:57]
  • The proposal is seen as symbolic and reportedly stalled in Congress, described as unlikely to pass due to legislative hurdles.

• Rankings of Affordable States:

  • “The most affordable state in the Union, Mississippi. The median home price there is $200,000 and groceries are 20% cheaper than the national average.” – Mike Slater [03:28]
  • Includes top five states: Arkansas, Alabama, Oklahoma, Kansas, Mississippi; highlights how affordability is measured and its significance amid economic pressure.

• Decline of Traditional Families:

  • “The number of U.S. households containing a mother, father and child has reached a record low...just 18% of American homes contain a traditional family. That's the fewest since 1959...a 45% drop since 1970.” – Mike Slater [04:06]
  • Marriage rates and the traditional family unit are at historic lows; rise of single-parent households is noted as a significant sociocultural change.

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2. Message of the Day: AOC vs. the Billionaires

[05:49 - 09:52]

Slater dedicates this segment to the ongoing public clash between progressive politicians, like Alexandria Ocasio-Cortez (AOC), and America’s billionaire class. He frames it as a broader ideological battle over wealth, value creation, and governmental power.

• AOC’s Claim and Historical Context:

  • “AOC the other day said the American Revolution was against the billionaires of their time. That's not true. Many of our founders were the richest men in the colonies...they pledged their lives, fortunes and sacred honor.” – Mike Slater [06:08]
  • Slater dismisses AOC’s historical analogy, aligning with Sen. Mike Lee’s perspective:
    • “It was against a large, distant, overly intrusive government that recognized no limits over its own authority to tax, regulate and eat out the substance of its citizens it claimed to serve, which is what the Democrats specialize in today.” – Quoting Sen. Mike Lee [06:28]

• Debate Over Wealth and Billionaires:

  • “You can't earn a billion dollars. You can get market power, you can break rules, you can abuse labor laws, you can pay people less than they're worth, but you can't earn that.” – Quoting AOC [06:41]
  • Slater counters that billionaires are increasingly fighting back, giving examples:
    • Ken Griffin moving his company to Miami following public targeting in New York [07:17]
    • Starbucks shifting resources from Seattle to Nashville; Howard Schultz moves to Florida [07:40]
    • Chevron's public rebuttal against California gas taxes: “California has the highest gas taxes and fees in America. One sign says nearly 25% of your gas money goes to state taxes and fees. Another sign says, Sacramento policies did this.” – Mike Slater [08:01]

• Rebuttal of Anti-Wealth Arguments:

  • “Robert Reich...said there are basically five ways to accumulate a billion dollars: monopoly, insider trading, political payoffs, fraud, inheritance. Don't believe the self made myth.” – Quoting Robert Reich [08:25]
  • Slater quotes Michael Dell:
    • “Robert Reich forgot the sixth and most important way, build something that millions of people actually want.” – Michael Dell [08:50]

• Slater’s Perspective:

  • “The communists are getting bolder and so are the billionaires. And I like it...Billionaires are not saints...AOC hates the billionaires because she wants you to depend on her and the government. And the billionaires hate the government because they want you to depend on them. The real focus should be on God because we're actually depending on him.” – Mike Slater [09:12]
  • Overall, Slater sees this as a positive sign that billionaires are defending capitalism more vocally, though he cautions against idolizing wealth.

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3. Something You Might Not Know: L.A. and the Spencer Pratt Mayoral Campaign

[10:53 - 13:37]

Slater offers his candid assessment of Los Angeles’ state of disrepair, focusing on the dramatic divide between "celebrity LA" and the everyday reality on the ground.

• Description of L.A. Decay:

  • “Los Angeles is disgusting. Fifteen years ago, I went to the Hollywood Boulevard Walk of Fame...It was a cesspool then. It is 15 years worse today, looks like a third world encampment down the entire street right in front of the Dolby Theater.” – Mike Slater [10:55]

• Spencer Pratt’s Unconventional Mayoral Campaign:

  • “Spencer Pratt is running for mayor...He goes around with a stencil and a pressure washer and cleans the grime off the sidewalks. And when they remove the stencil, it says ‘imagine if all the streets were this clean.’” – Mike Slater [11:25]
  • The strategy forces the city to address cleanliness while highlighting hypocrisy among current leaders.

• Celebrities and Disconnect:

  • “Drew Carey...said anyone who votes for or endorses Spencer Pratfall for mayor of LA needs to get their head out of their blank...But Drew Carey lives in an enormous 12,000 square foot house, $34 million, way up on the hills...From this far away, you can't see the filth of it all.” – Mike Slater [12:15, 12:36]

• Hope for Reform:

  • “I think there's a massive silent Spencer Pratt vote out there like there was for Trump back in 2015. People can't admit it out loud, but people who realize that I don't want to live in squalor anymore.” – Mike Slater [13:23]

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Notable Quotes and Memorable Moments

• “It's embarrassing to admit that I could name maybe six [signers of the Declaration of Independence].” – Mike Slater [01:43]
• “The framework would lift America's blockade on Iranian ports and reopen the Strait of Hormuz. One fifth of the world's liquid oil passes through the straits. Very little of our oil, but but as we know, it affects oil prices around the world.” – Mike Slater [02:34]
• “AOC and communists like her have been saying stuff like this for a long time, but I appreciate finally the billionaires stepping up and defending themselves.” – Mike Slater [06:57]
• "Chevron fighting back against politicians...It's like being strangled by a gas hose. I love that." – Mike Slater [08:09]
• “Billionaires are not saints. They're not people we should worship.” – Mike Slater [09:14]
• "Drew Carey lives in an enormous 12,000 square foot house...From this far away, you can't see the filth of it all. You just can't quite see it from your $34 million house." – Mike Slater [12:36]

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Timestamps for Important Segments

• Headlines Rundown – [01:43 – 04:37]
• Message of the Day (AOC vs. the Billionaires) – [05:49 – 09:52]
• L.A. and the Spencer Pratt Campaign – [10:53 – 13:37]

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Tone and Style

• Factual, critical, occasionally satirical.
• Strong skepticism toward progressive politics and government overreach.
• Highlights irony and hypocrisy in political and social elites.
• Uses direct language and vivid anecdotes to connect with the audience.

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Summary Takeaway

Mike Slater, filling in for Bill O’Reilly, provides a punchy, direct overview of America’s most pressing economic, political, and cultural debates. Whether breaking down the realities of U.S.-Iran relations, dissecting the myth of the “self-made billionaire,” or skewering the dysfunction and elitism in Los Angeles, the episode underscores a central theme: challenge political platitudes, recognize real-world complexities, and remain vigilant against both government overreach and unchecked corporate rhetoric.

Transcript

[A]

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[A]

Bill O'Reilly, here. You are listening to the weekend edition of the O'Reilly update. Coming up next, the News with Mike Slater.

[B]

Thanks, Bill. Here's what's happening this week in America. The United States and Iran reach a tentative agreement. The Treasury Department floats a new banknote, a survey ranks the most affordable states in the union and the number of traditional families falls to a historic low. That's all coming up. Then I will be back with your message of the day about our 250th anniversary and how many signers of the Declaration of Independence could you name? It's embarrassing to admit that I could name maybe six. And it's even worse when you realize how many there were. That's all coming up. But first, America and Iran have reached a potential deal on a 60 day extension of the ceasefire and agreed to launch fresh negotiations on Tehran's nuclear program. The plan still needs formal approval from President Trump. The framework would lift America's blockade on Iranian ports and reopen the Strait of Hormuz. One fifth of the world's liquid oil passes through the straits. Very little of our oil, but but as we know, it affects oil prices around the world. The Treasury Secretary, Scott Besant, said President Trump has made it very clear, he talked about it at the cabinet meeting, that he had several red lines and he said he's not going to take a bad deal. He's going to make a great deal for the American people. Speaking of the treasury secretary, the Treasury Department is preparing mockup designs for a new bill like banknote bill, the $250 bill that would feature the portrait of none other than President Donald Trump. Now, he would be the first living person featured on American money in over 150 years, unlikely that this currency will be released. The legislation has remained stalled in the House for more than a year and the bill would need 60 votes. Like a written bill, legislative bill would need 60 votes for passage in the Senate to block the Democrats filibuster. U.S. news World Report ranking the most affordable states this year. Places are judged by inflation, housing costs, taxation and income. The top five starts with Arkansas, followed by Alabama, Oklahoma, Kansas and the least expensive state in the Union. The most affordable state in the Union, Mississippi. The median home price there is $200,000 and groceries are 20% cheaper than the national average. And gas prices among the lowest in America as well. The number of U.S. households containing a mother, father and child has reached a record low. This is data from the Census Bureau says that just 18% of American homes contain a traditional family. That's the fewest since 1959. It's a 45% drop since 1970. The fastest growing household in the country, single parents. Marriage rates have now fallen to the lowest levels since the government started keeping statistics during the Civil War. I'm Mike Slater. My message about America's 250th anniversary coming up next.

[A]

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Hey, I'm Mike Slater filling in for Bill O'Reilly. Now it's time for the O'Reilly update. Message of the day. AOC versus the billionaires. And the billionaires are finally fighting back. AOC the other day said the American Revolution was against the billionaires of their time. That's not true. Many of our founders were the richest men in the colonies and many of them gave up their entire fortunes and died with nothing because of the war. But they pledged their lives, fortunes and sacred honor. Senator Mike Lee said it was against a large, distant, overly intrusive government that recognized no limits over its own authority to tax, regulate and eat out the substance of its citizens it claimed to serve, which is what the Democrats specialize in today. But what AOC said there was a part of a larger point she was making. She said, you can't earn a billion dollars. You can get market power, you can break rules, you can abuse labor laws, you can pay people less than they're worth, but you can't earn that. So you have to create a myth. You have to create a myth of earning it. Now, AOC and communists like her have been saying stuff like this for a long time, but I appreciate finally the billionaires stepping up and defending themselves. Like when the mayor of New York City, Mamdani, called out specifically Ken Griffin. Remember he made that video not too long ago about taxing people's second homes. And he specifically called out Ken Griffin, one particular guy who was standing outside Ken Griffin's apartment building and said, this guy contributes nothing to New York City. Meanwhile, he's in the process of building a $6 billion skyscraper in New York City. But Ken Griffin came out and said, all right, fine, we're gonna move our company to Miami. When the mayor of Seattle was asked about Starbucks and other companies leaving her city, she was up on stage and said, bye. Well, now Starbucks is expanding their headquarters in Nashville and Howard Schultz himself, the founder of Starbucks, has moved to Florida. Now she's changing her tune slightly. Billionaires are fighting back. Chevron has these signs up at their stations in California. I didn't think these were real when I first saw them. Thought it was some sort of conservative ad campaign or something like that, but it's actually Chevron. And these signs at the gas station say California has the highest gas taxes and fees in America. One sign says nearly 25% of your gas money goes to state taxes and fees. Another sign says, Sacramento policies did this. Now you pay more as a car wrapped. It's like being strangled by a gas hose. I love that. Chevron fighting back against politicians. Robert Reich, who was the Secretary of labor in the 90s under Clinton, he worked for Obama, taught at Harvard for a long time. He said there are basically five ways to accumulate a billion dollars. One, profiting from a monopoly. Two, insider trading. Three, political payoffs. Four, fraud. Five, inheritance. Don't believe the self made myth. There it is again. Same talking point that AOC had that making money is a myth. Well, Michael Dell, founder of Dell Computers, said Robert Reich forgot the sixth and most important way, build something that millions of people actually want. The communists are getting bolder and so are the billionaires. And I like it. Now to be clear, the billionaires are not paragons of morality, but they do some things that should be valued, like take oil out of the ground and turn it into gasoline to make our cars go. I don't know how to do that. Chevron does. So at least they provide some service. To me, the communists provide nothing. Billionaires are not saints. They're not people we should worship. AOC hates the billionaires because she wants you to depend on her and the government. And the billionaires hate the government because they want you to depend on them. The real focus should be on God because we're actually depending on him. Mike Slater filling in for Bill O'Reilly. Something you might not know next.

[A]

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[B]

Mike Slater filling her for Bill O'Reilly. Now it's time for something you might not know. Los Angeles is disgusting. Fifteen years ago, I went to the Hollywood Boulevard Walk of Fame for the first time. It was a cesspool then. It is 15 years worse today looks like a third world encampment down the entire street right in front of the Dolby Theater. It's where they have the Oscars. Of course, they clear it out when all the celebrities come to town. And this is why Spencer Pratt is running for mayor. That hypocrisy where the celebrities are living in one pristine Los Angeles and everyone else is living in squalor. That's gotta stop. His latest ad campaign as he goes around with a stencil and a pressure washer and cleans the grime off the sidewalks. And when they remove the stencil, it says imagine if all the streets were this clean. So if Mayor Bass wants to remove these ads, they have to go and actually clean the sidewalks. It's brilliant. His campaign also has substance. A seven point plan to end homelessness versus Karen Bass and that other woman who say we just need to stay the course, everything's fine. Every sane person in LA knows it's not fine by saying, I mean normal person walks on the sidewalks. Drew Carey for instance, not one of those people. Drew Carey said anyone who votes for or endorses Spencer Pratfall for mayor of LA needs to get their head out of their blank. I understand being angry or unsatisfied, but at least get behind someone competent and not some serial scammer without a soul or moral compass. Blank this guy already I love. This is great. We need more Drew Carey's to step up and talk about how the current path is great and everything's fine. Drew Carey lives in an enormous 12,000 square foot house, $34 million way up on the hills. He has this infinity pool and the living room. The entire wall is all this glass window overlooking with a perfect view of the Los Angeles skyline. But when you're living this far away from the city of Los Angeles, you're not looking at the city, you're looking at the idea of Los Angeles. Because from this far away, you can't see the filth of it all. You just can't quite see it from your $34 million house. I think there's a massive silent Spencer Pratt vote out there like there was for Trump back in 2015. People can't admit it out loud, but people who realize that I don't want to live in squalor anymore. I don't want to live in fear. I want LA to be nice again, even if maybe it means being a little mean to the criminals and drug addicts. I'm Mike Slater from Politics by Faith. More coming up.

[A]

Every major story has a version the

[B]

news gives you and then a version that's actually true.

[A]

If you're a critical thinker, if you're

[B]

somebody who's not tribal, if you're somebody who just wants to think facts so you can make your own decisions, Keeping It Real with Jillian Michaels is the show for you. Subscribe now, wherever you get your podcasts. I'm Mike Slater. You can subscribe to my [e-mail] politicsbyfaith Hope you have a great rest of your day. Spread the word.