Bulwark Takes: "62% Say Trump is Using the Presidency for Cash"
Date: February 28, 2026
Host: The Bulwark
Key Voices: Tim Miller, Nicole Wallace, David Frum, Jim VandeHei
Episode Overview
In this episode, members of the Bulwark team—including Tim Miller, Nicole Wallace, David Frum, and Jim VandeHei—break down the latest polling data and news swirling around Donald Trump’s presidency, particularly the deep public mistrust regarding his ethics, perceived self-enrichment, and the nation’s unsettling trajectory under his leadership. The discussion weaves in heated takes on U.S. population decline, media consolidation involving foreign money, foreign policy contradictions, and implications for democracy and the upcoming election.
Key Discussion Points & Insights
1. Americans Fleeing the Country and Population Decline
(02:12 – 05:15)
-
Recent data suggests an unprecedented percentage of Americans are leaving or want to leave the U.S., with reasons ranging from Trump’s policies and crime to affordability and lifestyle.
-
Nicole Wallace highlights that "way more than even during the Great Recession, Americans are leaving and want to leave." (02:58)
-
Trump-era policies are not only discouraging immigration but also actively driving people away, with early indications that the U.S. population shrank in 2025—potentially a first outside of war or pandemic contexts.
"As a result of Donald Trump's behavior and his policies, more people are leaving America than coming."
— Tim Miller (03:54) -
The team compares the U.S.’s negative net migration to crisis-ridden countries like Syria, Ukraine, Sudan, and Venezuela, underscoring the gravity of this trend.
"These are the countries we're trying to emulate... the countries that people are fleeing because of war or genocide—because that's us right now."
— Tim Miller (04:54)
2. America’s Perceived Weakness and Foreign Reliance
(05:15 – 07:35)
-
The panel skewers the irony of Trump’s "America First" rhetoric while the U.S. relies on foreign entities—for instance, needing Qatar to supply a backup Air Force One.
"Donald Trump has to beg Qatar to give them their backup plane... Why are we borrowing a used jalopy plane from the Qataris?"
— Tim Miller/Nicole Wallace (05:31, 06:35) -
David Ellison’s debt-laden acquisition of iconic American media brands (CNN/Warner Bros Discovery) is being financed partly by Middle Eastern autocracies and Trump-tied oligarchs.
"We need to borrow a used [plane]... It's just a sign of utter and unbelievable weakness that... the leaders of our country need to like take out an IOU from the Sharia law oil dictators in the Middle East."
— Nicole Wallace (06:25, 07:03) -
The repeated phrase "Qatar's bitch" is used sarcastically to hammer home the point.
3. Threats to Media Independence & Risks of Oligarchy
(07:39 – 13:55)
-
The team expresses deep concern over media consolidation and the increasing control of major U.S. outlets by Trump-friendly oligarchs and foreign money.
"There are elements of like, the corruption of this deal that... I think kind of get lost... this is not how things work in a functioning democracy."
— David Frum (08:13, 08:27) -
Jim VandeHei labels the emerging system as "an oligarchy," noting that U.S. media is increasingly influenced by the ultra-rich and foreign financiers, rather than genuine capitalism.
-
Discussion includes skepticism about the business prospects of "corporate MAGA" media, as the majority of Americans distrust both Trump and establishment channels, opening a massive opportunity for independent media.
"That is now a massive media empire catering to a shrinking number of Americans... The opportunity for independent media... is a massive business opportunity."
— Jim VandeHei (11:03) -
The group raises alarms about the power of algorithms on platforms like TikTok (now partly controlled by Ellison), X (Musk), and Meta (Zuckerberg), which could push propaganda over trustworthy news, particularly for younger consumers.
"A shrinking number of people go to trusted news sources and an increasing number... are getting propagandized on their phones."
— David Frum (13:34)
4. Trump’s Contradictory Foreign Policy and Grift
(13:55 – 17:26)
-
The panel probes Trump’s military actions in the Middle East, highlighting a major contradiction: his base’s non-interventionist ethos versus new military operations, including potential conflict with Iran.
"The heat behind Donald Trump's candidacy in 2015... was [his] promise to focus... here at home. This... would be the third or fourth military operation of his presidency."
— Jim VandeHei (13:55) -
David Frum notes that the justifications for these military actions are "a lie" and that the general public and MAGA base do not support war for Israel.
"On its face... their stated rationale for going into Iran is a lie. Right? ...We don't have an imminent threat... So that's not where we're going."
— David Frum (14:51) -
The possibility is raised that these moves are to benefit Trump’s own business ties with Arab states.
5. Polling: Public Trust and Moral Failure under Trump
(16:24 – 18:41)
-
Discussion pivots to devastating poll numbers:
| Question | % Negative Response | |------------------------------------------------------|--------------------| | Is Trump honest and trustworthy? | 70% say "No" | | Is he mentally sharp enough for presidency? | 56% say "No" | | Committed to protecting Americans' rights/freedoms? | 56% say "No" | | Is using presidency to enrich himself? | 62% say "Yes" | | Has he exceeded authority as president? | 65% say "Yes" |
-
Jim VandeHei remarks on the sheer abnormality of these being asked of a U.S. president:
"These are extraordinary numbers. But even more extraordinary are the questions... Is he grifting? In and of themselves, it's just an epic failure of morality and leadership." (16:30)
-
David Frum notes that this level of suspicion never applied to previous presidents—even among their opponents—and it signifies a "big change... about just how dire the state of affairs is." (17:49, 17:51)
Notable Quotes & Memorable Moments
-
On Migration:
"If you don't believe that, that's a bad place to be if you're interested in... keeping people in the country."
— Nicole Wallace (04:03) -
On U.S. Weakness:
"Like, why are we cutter's bitch?... It seems like America cannot fund itself."
— Tim Miller (06:03) -
On Media Control:
"This isn't really capitalism... It's an oligarchy."
— Jim VandeHei (08:31, 08:34) -
On Propaganda:
"There is a shrinking number of people... who go to trusted news sources and an increasing number... getting propagandized on their phones."
— David Frum (13:34) -
On Trump’s Grift:
"Do you think Trump is using the presidency to enrich himself? 62%. Yes. What gave it away? The Qatari jet."
— Jim VandeHei (16:30) -
On Historical Context:
"If you go back ... to 1991... asking some of those questions about George H.W. Bush... I would never assume that."
— David Frum (17:42)
Timestamps for Important Segments
- 02:12 – 05:15 — National population decline and migration crises
- 05:15 – 07:35 — America’s economic and diplomatic weakness, reliance on foreign money/planes
- 07:39 – 13:55 — Media consolidation, corruption, and risks to independent/journalistic integrity
- 13:55 – 17:26 — Trump’s foreign policy contradictions, possible self-enrichment via Arab ties
- 16:24 – 18:41 — Public trust polling: epic failures and political implications
Conclusion
This episode offers a critical look at how Trump’s presidency has left Americans increasingly distrustful and desperate—politically, economically, and culturally. From record numbers of Americans wanting to leave, to American power and media being propped up by autocrats, to the normalization of presidential grift in mainstream political discourse, the Bulwark team forcefully contends that the country is at a dangerous crossroads. The episode also emphasizes the opportunity for independent media to capture a public hungry for trust, transparency, and truth.