Podcast Summary: The Jim Acosta Show
Episode Title: Rep. Jim Himes on "Big Beautiful" Bill and Steve Schmidt on Trump's "Shakedown" of Ukraine
Release Date: February 26, 2025
Host: Jim Acosta
Description: Don't give into the lies. Don't give into fear. Hold on to the truth. And hope. jimacosta.substack.com

1. Introduction and Overview

Jim Acosta opens the episode by introducing Democratic Congressman Jim Himes of Connecticut and former Republican strategist Steve Schmidt. The primary topics discussed include the House Republican budget bill, the situation in Ukraine, and Elon Musk's influence on the federal government.

Key Points:

• House Republican Budget Bill: Proposed as a "big beautiful budget bill," it includes $4.5 trillion in tax breaks and $2 trillion in spending cuts, with significant implications for Medicaid and food stamps.
• Ukraine Concerns: Discussion revolves around the alleged "shakedown" of Ukraine by Donald Trump, involving rare earth minerals and security guarantees.
• Elon Musk's Role: Examination of Elon Musk's involvement in government activities and his impact on federal agencies.

2. Discussion with Congressman Jim Himes

Timestamp: [00:00] - [11:38]

Topics Covered:

• Impact of the Budget Bill on Medicaid:

  • Jim Acosta: Highlights the potential consequences of the budget bill on Medicaid and food stamps, emphasizing that many Republicans may not realize the breadth of the impact.

  • Jim Himes: Explains that Medicaid isn't just for low-income individuals but also supports long-term care for the elderly. He warns that the proposed cuts would disproportionately affect "red states" with fewer healthcare resources.

    "Medicaid is actually in addition to health insurance for poor people, it's also the single biggest, you know, long term care program."
    — Jim Himes [01:41]

• Republican Justifications and Potential Backlash:

  • Himes: Criticizes Republicans for mislabeling programs as sources of waste, fraud, and abuse, suggesting that actual consequences would include hospital closures and reduced healthcare access.

    "What these guys are going to discover because the hospital associations are walking around the hill right now, what they're going to discover is that what they think is waste, fraud and abuse is their hospital closing down."
    — Jim Himes [05:06]

• Elon Musk's Influence on the Federal Government:

  • Acosta: Questions Musk's presence at cabinet meetings despite not holding a formal government position.

  • Himes: Criticizes Musk's entrepreneurial approach to government, highlighting conflicts with cabinet secretaries and the potential negative impact on public services.

    "Government is a totally different beast when you're trying to build an electric vehicle. When you make a mistake, you don't hurt lots of farmers. You don't hurt the FAA, which is keeping us safe from air crashes."
    — Jim Himes [08:01]

• Trump's Approach to International Agreements:

  • Himes: Expresses deep concern over Trump's negotiations with Ukraine, likening them to a mafia-style protection racket and warning of potential escalations with Russia.

    "It's mafia stuff. And it will come back to haunt us."
    — Jim Himes [13:51]

• Trump's Unorthodox Proposals for Gaza:

  • Himes: Critiques Trump's proposal to take over Gaza without deploying ground troops, emphasizing the absurdity and potential humanitarian crises it could cause.

    "That [proposal] is completely absurd. It's completely absurd. And, and it's just painful."
    — Jim Himes [10:00]

3. Conversation with Steve Schmidt

Timestamp: [25:30] - [66:09]

Topics Covered:

• Trump's Negotiation Tactics:

  • Steve Schmidt: Describes Trump's negotiating style as aggressive and confrontational, referencing "The Art of the Deal."

    "Trump has a negotiating position that is basically, I'm going to walk into a room, I'm going to put a finger in your chest and tell you to go fuck yourself."
    — Steve Schmidt [26:05]

• Implications for NATO and Global Stability:

  • Schmidt: Highlights the risks Trump’s actions pose to NATO and global peace, suggesting that weakening alliances could lead to further conflicts.

    "The bad guy, the great gaslighting of 2024... We're still living with a 19th century regulatory apparatus."
    — Steve Schmidt [28:00]

• Elon Musk vs. Government Efficiency:

  • Schmidt: Argues that Musk's approach is unsuitable for government operations, emphasizing the need for stability and expertise in federal agencies.

    "And so, but I want to explain the consequences, right, to Mark. To Mark Zuckerberg and Elon Musk. And some of you may say, this is crazy."
    — Steve Schmidt [49:18]

• Potential Domestic Unrest and Constitutional Rights:

  • Schmidt: Warns of possible escalation into domestic unrest, emphasizing the protection provided by the U.S. Constitution and the resilience of the American people.

    "The United States military will not raise its weapons against the American people."
    — Steve Schmidt [42:18]

• Critique of Major Tech Figures:

  • Schmidt: Condemns figures like Elon Musk and Jeff Bezos for their influence over media and information, predicting their eventual downfall due to their overreach.

    "You will lose your companies, you will lose your empires, every fucking one of you, because your empires, your kingdoms, are a threat to the liberty of the American people."
    — Steve Schmidt [49:18]

• Democratic Party's Path Forward:

  • Schmidt: Emphasizes the need for the Democratic Party to rebuild a broad coalition similar to that of FDR or JFK, advocating for policies that promote competition and limit the power of monopolistic entities.

    "The Democratic Party is going to have to offer to the American people... a New Deal."
    — Steve Schmidt [48:35]

4. Reflections and Closing Remarks

Timestamp: [66:09] - [67:38]

Key Points:

• Jim Acosta: Reflects on the conversations, expressing concern over the current political climate and the potential for significant change driven by grassroots movements.

  "We should start peeling these layers of the onion back. And I do think as much as people might have affection for Joe Biden, maybe not as many now as they once did."
  — Jim Acosta [67:27]

• Steve Schmidt: Reiterates the urgency of addressing the current challenges, emphasizing the resilience of the American Constitution and the potential for meaningful change through collective action.

  "The forces of liberty in this country, the opposition to this, will win. We will, we will prevail."
  — Steve Schmidt [48:35]

• Jim Acosta: Thanks the guests and encourages listeners to engage with the content on Substack, highlighting the importance of continued dialogue and reporting.

  "I'm Jim Acosta. I'll see you next time. Take care."
  — Jim Acosta [67:38]

5. Notable Quotes

• Jim Himes on Medicaid's Importance:

  "Medicaid is actually in addition to health insurance for poor people, it's also the single biggest, you know, long term care program."
  — Jim Himes [01:41]

• Steve Schmidt on Trump's Negotiation Style:

  "Trump has a negotiating position that is basically, I'm going to walk into a room, I'm going to put a finger in your chest and tell you to go fuck yourself."
  — Steve Schmidt [26:05]

• Jim Acosta on Government and Elon Musk:

  "You can't go to Mars. But the United States is. And I want to say this to Mark Zuckerberg and to Jeff Bezos and Elon. You will lose your companies, you will lose your empires..."
  — Jim Acosta [49:19]

• Steve Schmidt on Democratic Resilience:

  "The forces of liberty in this country, the opposition to this, will win. We will, we will prevail."
  — Steve Schmidt [48:35]

6. Conclusion

This episode of The Jim Acosta Show delves deep into the ramifications of the House Republican budget bill, the precarious situation in Ukraine under Trump's influence, and the controversial role of Elon Musk in federal affairs. Congressman Jim Himes provides a critical perspective on the proposed budget cuts, emphasizing the detrimental impact on Medicaid and vulnerable populations. Steve Schmidt offers a scathing critique of Trump's leadership style and its broader implications for international alliances and domestic stability. The conversation underscores the urgent need for informed civic engagement and the restoration of robust democratic institutions to safeguard against authoritarian tendencies.

Listeners are encouraged to follow Jim Acosta on Substack for more in-depth discussions and analyses on pressing national and international issues.