Transcript
Richard Karn (0:00)
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Unknown (0:54)
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Senator Rand Paul (1:08)
Senator Rand Paul Whatever will we talk about on our every few month chat today? You got anything going on over there.
Unknown (1:16)
In D.C. you know, it's just hard to find any issues anymore because it's so, you know, just kind of slogging along. No war, no wars, no budget problems? No. Now there's plenty to talk about. There's a lot of serious problems going on and happy to chat with you.
Senator Rand Paul (1:32)
All right, well, I'm always happy to have you on and. Well, you know, why don't we. We're obviously gonna talk about the Israel, Iran situation, but why don't we hold that for a moment and first just get into some of this big beautiful bill stuff, the budget stuff. There's been a little tension between you and Trump. Then he kind of sort of brought you back in. Obviously everyone knows your feelings on fiscal responsibility. Why don't you kind of just get us caught up on maybe where you are, where you think Trump is, where the bill will land and then we'll hit other stuff.
Unknown (2:00)
Well, we're in counseling right now. The President and I are working together and we're trying to work out our differences. I call it the big not yet beautiful bill. I mean, there's a lot of good stuff in it. A lot of stuff I'VE always supported and still do. The tax cuts are most of the tax cuts from 2017. I voted for them then. Big supporter of them. I was in the Oval Office working with the president at the time to make those tax cuts, make sure that they applied to the entire middle class. I'm happy to make those permanent. I accept the understanding that you can cut tax rates and get more tax revenue. The idea of supply side economics, Art Laffer and I think over the seven years that we've had those initial tax cuts, they actually did bring in more revenue. In the end, we didn't lose revenue from those tax cuts. We actually increased economic growth and ended up getting more revenue. There's some additional tax cuts added for those too. So I really am for that part of the bill. I do think the deficit's a problem though. And we're running about a $2 trillion annual deficit. The question is, should we use this simple majority bill? There's very rare opportunities when a simple majority without a filibuster can pass a bill. Republicans only should we use this to cut spending? Because we know Democrats will, will never vote to cut spending. So I think we shouldn't miss this opportunity. So far, I would say the spending cuts included in the bill are wimpy and anemic. And what do I mean by that? You know, work requirements for Medicaid. I'm all for it, but you know, when the initial bill was going to have the work requirements come in 2029, after the Trump residency was over, I mean that's, that's just, that is so wimpy as to be embarrassing. Now. The House Freedom Caucus argued it wasn't enough. They moved them up to 2026, but the work requirements still don't start till December 2026 after the next election. Still pretty wimpy. We could have the states pay more their fair share, which could save maybe a trillion dollars, but they refuse to do that because we have weak kneed Republicans unwilling to cut any kind of, you know, healthy people off of Medicaid and saying healthy people ought to get a job and, and get their health insurance beyond the government. But really what bothers me the most about the bill and what keeps me from supporting it is raising the debt ceiling $5 trillion. This will be the largest increase in the debt ceiling ever. It is not conservative to raise the debt ceiling that much and it is rewarding profligacy with an expanded credit line. This is like telling your teenager who you gave a credit card, they run up $2,000 in debt and they say, mom, Dad, I need more credit.
