WEBVTT 1 00:00:00.160 --> 00:00:02.680 What's your experience now two weeks in are there is 2 00:00:02.720 --> 00:00:04.160 there actually a fourth branch of government? 3 00:00:05.000 --> 00:00:08.759 Most definitely is this is actually really what BIG's saying 4 00:00:08.800 --> 00:00:11.679 is really goes to the heart of the problem. In 5 00:00:11.759 --> 00:00:14.919 order for us to be a true democracy, a functioning democracy, 6 00:00:15.279 --> 00:00:17.879 the government must be responsive to the people. That's literally 7 00:00:17.960 --> 00:00:21.600 what democracy means. However, when you have a vast unelected 8 00:00:21.679 --> 00:00:25.079 bureaucracy that is not answerable to the public, and where 9 00:00:25.120 --> 00:00:28.079 the and if the elected officials, if the president, the 10 00:00:28.359 --> 00:00:31.719 people in Congress and the Senate actually don't have if 11 00:00:31.879 --> 00:00:33.920 they don't have the power to affect the bureaucracy, and 12 00:00:33.920 --> 00:00:36.920 it's actually extremely difficult to affect the bureaucracy, then you 13 00:00:37.039 --> 00:00:38.960 do not have rule of the people. You do not 14 00:00:39.039 --> 00:00:42.880 have democracy. You have rule of the bureau bureaucracy. And 15 00:00:42.920 --> 00:00:47.320 this is obviously wrong, It is unconstitutional, and it is 16 00:00:47.359 --> 00:00:51.240 imperative therefore that we return power to the people of 17 00:00:51.280 --> 00:00:55.719 the country and not have attorney of the bureaucracy, which 18 00:00:56.119 --> 00:00:58.960 we most definitely have had to follow out to a 19 00:00:59.000 --> 00:01:02.520 degree that is absurd as fire this. It's not just 20 00:01:02.520 --> 00:01:05.159 that there's an unconstitutional fourth branch of government, but it 21 00:01:05.239 --> 00:01:07.680 is arguably the most powerful branch of the government. 22 00:01:08.000 --> 00:01:08.879 Johnny, I see you're back. 23 00:01:09.760 --> 00:01:11.280 Yes, can you hear me? 24 00:01:11.319 --> 00:01:12.879 Now? I can? Yes? 25 00:01:13.680 --> 00:01:17.879 Oh, I apologize, gentlemen. Ya hop to my laptop. I've 26 00:01:17.879 --> 00:01:20.840 been working on this for as a long set, over 27 00:01:20.920 --> 00:01:24.799 a decade now with my Squeal Awards, and there are 28 00:01:24.840 --> 00:01:27.920 many in Congress that actually really do care. 29 00:01:28.120 --> 00:01:29.560 About this absolutely. 30 00:01:29.719 --> 00:01:32.200 The problem I think is there there are not enough 31 00:01:32.280 --> 00:01:36.239 of us, yes, that have And so while I highlight 32 00:01:36.760 --> 00:01:40.959 a lot of the abuses, and you wanted some anecdotes, 33 00:01:41.239 --> 00:01:44.200 al and I've shared a number of those with you 34 00:01:44.400 --> 00:01:45.120 and familiar. 35 00:01:46.040 --> 00:01:50.599 Oh, it's hard to resonate. It's hard for the public 36 00:01:50.680 --> 00:01:53.400 to resonate with statistics because but people can really resonate 37 00:01:53.480 --> 00:01:54.959 with powerful anecdotes. 38 00:01:55.599 --> 00:01:57.159 Joey had a bunch of them. Yeah, you had a 39 00:01:57.200 --> 00:01:58.000 bunch of them, Jony. 40 00:01:58.040 --> 00:01:58.680 Yeah, I did. 41 00:01:58.920 --> 00:02:02.079 Sending kiddies to spas to find out whether they produce 42 00:02:02.200 --> 00:02:06.040 less ferbals, hack up less ferbiles. So yeah, we've spent 43 00:02:06.159 --> 00:02:09.599 taxpayer money on that. We put shrimp on a treadmill 44 00:02:09.719 --> 00:02:11.120 to see how fast they run. 45 00:02:11.400 --> 00:02:11.960 I'm sorry. 46 00:02:12.120 --> 00:02:15.159 All of these things, while they may be fun, why 47 00:02:15.240 --> 00:02:19.280 are we spending taxpayer dollars on them? And it goes 48 00:02:19.599 --> 00:02:23.919 to the point of we've sent millions of dollars to 49 00:02:24.199 --> 00:02:27.639 China to study what COVID. 50 00:02:28.199 --> 00:02:29.479 We saw how that ended. 51 00:02:30.199 --> 00:02:33.800 In fact, it's it's pretty outrageous that the COVID, the 52 00:02:33.879 --> 00:02:40.759 virus was developed in what a labin Wuhan, and yet 53 00:02:41.039 --> 00:02:44.240 it was funded by US tax dollars, which was simply 54 00:02:44.520 --> 00:02:48.680 routed through the fake nonprofit EcoHealth because the government US 55 00:02:48.719 --> 00:02:50.280 covin can't give it directly to China, and they just 56 00:02:50.280 --> 00:02:52.759 gave to EcoHealth knowing that it would go to China. 57 00:02:53.280 --> 00:02:58.400 So our US tax dollars were used effectively to in 58 00:02:58.439 --> 00:03:01.919 the end kill Americans, which is insane. 59 00:03:01.800 --> 00:03:03.639 Absolutely insane. 60 00:03:04.039 --> 00:03:10.719 And I know, Elan, you have been on aid, you have, 61 00:03:10.919 --> 00:03:13.439 really and for sure. 62 00:03:14.000 --> 00:03:16.479 This was another one of my efforts. 63 00:03:17.479 --> 00:03:21.360 And this began years ago when we were trying to 64 00:03:21.439 --> 00:03:26.360 figure out what they were doing with our American taxpayer 65 00:03:26.439 --> 00:03:32.120 dollars that were going to support humanitarian efforts in. 66 00:03:33.599 --> 00:03:34.080 Ukraine. 67 00:03:34.879 --> 00:03:38.599 So I wanted to know exactly how those dollars were 68 00:03:38.719 --> 00:03:43.599 being spent and not just read yes, oh my gosh. 69 00:03:43.680 --> 00:03:46.879 And I shared this with you earlier, Elan, just privately, 70 00:03:47.039 --> 00:03:52.400 but we got all kinds of threats from USAID because 71 00:03:52.639 --> 00:03:57.639 I was trying to exercise my oversight capacity in Congress. 72 00:03:58.400 --> 00:04:05.080 So they just shock, how it's outrageous that a taxpayer 73 00:04:05.159 --> 00:04:10.159 funded organization would threaten a US senator who is simply 74 00:04:10.199 --> 00:04:13.280 trying to figure out if American tax payer money is 75 00:04:13.319 --> 00:04:15.400 being spent correctly and not. 76 00:04:15.520 --> 00:04:17.319 Fortunately yes. 77 00:04:17.680 --> 00:04:21.600 And so what my staff and I had estimated was 78 00:04:21.639 --> 00:04:26.079 that thirty to forty percent of the USAID's awards would 79 00:04:26.079 --> 00:04:29.680 go to indirect costs, so they're overhead their rent employees. 80 00:04:30.120 --> 00:04:35.759 That the time, okay, okay, after. 81 00:04:35.720 --> 00:04:39.360 Months and months of obstruction where you had wouldn't let 82 00:04:39.439 --> 00:04:43.000 us in, they told us the NIGRA, the negotiated indirect 83 00:04:43.120 --> 00:04:46.279 cost rate Agreements. It's a lot of government jargon, but anyway, 84 00:04:46.360 --> 00:04:49.839 the indirect cost They said that the database, oh. 85 00:04:49.720 --> 00:04:53.480 It doesn't exist. That was a lie. That was a lie. 86 00:04:53.560 --> 00:04:57.160 It was false because we found it, and then we 87 00:04:57.160 --> 00:04:59.839 were told we weren't allowed to access. 88 00:04:59.600 --> 00:05:00.519 The data base. 89 00:05:01.279 --> 00:05:05.040 And then that's when Congressman McCall and I came together 90 00:05:05.319 --> 00:05:09.800 and we launched an official congressional investigation so that we 91 00:05:09.839 --> 00:05:14.199 could gain access to the rates. And then after about 92 00:05:14.240 --> 00:05:18.480 six more months of negotiations, then my staff was finally 93 00:05:18.519 --> 00:05:22.480 allowed to access very limited data. They were allowed to 94 00:05:22.519 --> 00:05:26.319 go into a room and they couldn't take notes, they 95 00:05:26.319 --> 00:05:30.120 were on camera the whole time, they couldn't remove any 96 00:05:30.160 --> 00:05:31.319 of the information. 97 00:05:32.120 --> 00:05:34.079 But what my staff found is. 98 00:05:34.199 --> 00:05:37.240 You were laughing at that thirty to forty percent, because 99 00:05:37.240 --> 00:05:38.399 that is outrageous. 100 00:05:38.920 --> 00:05:40.160 That was understated. 101 00:05:41.000 --> 00:05:44.240 In some of the cases, the niper rates were upwards 102 00:05:44.279 --> 00:05:48.560 towards anywhere from fifty to sixty percent, and that doesn't 103 00:05:48.600 --> 00:05:53.240 include the cost for subcontractors, what the subcontractors were adding on. 104 00:05:53.879 --> 00:05:57.160 So this is the problem with USAID. And that's why Elon, 105 00:05:57.480 --> 00:06:02.079 I'm just I'm with you on this because so much 106 00:06:02.319 --> 00:06:06.879 of that taxpayer money is not even going to we 107 00:06:07.000 --> 00:06:10.560 love to feel good about helping starving children and name 108 00:06:10.639 --> 00:06:14.160 your country, but it's not going there. It's going to 109 00:06:14.160 --> 00:06:18.000 pay rents in Paris. It's going to support somebody's fancy 110 00:06:18.079 --> 00:06:20.439 dinner to entertain whoever. 111 00:06:21.120 --> 00:06:22.800 Yeah, exactly. 112 00:06:22.879 --> 00:06:26.399 So to be clear, in shutting down, which we're in 113 00:06:26.399 --> 00:06:28.519 the process is doing shutting down your said the reason 114 00:06:28.519 --> 00:06:30.879 for that, as opposed to simply trying to do some 115 00:06:30.920 --> 00:06:34.439 minor house cleaning, is that as we dug into USAID, 116 00:06:34.639 --> 00:06:36.920 it became apparent that what we have here is not 117 00:06:37.040 --> 00:06:39.319 an apple with a worm in it, but we have 118 00:06:39.560 --> 00:06:42.680 actually just a bowl of worms. And so at the 119 00:06:42.720 --> 00:06:44.680 point which you don't really have you go to apple 120 00:06:44.680 --> 00:06:45.839 and has got a women, it maybe can take the 121 00:06:45.839 --> 00:06:47.839 worm out. But if you've got actually just a ball 122 00:06:47.879 --> 00:06:51.279 of worms, it's hopeless. And U s id is a 123 00:06:51.279 --> 00:06:54.240 bowl of worms. There is no apple. And when there 124 00:06:54.319 --> 00:06:57.399 is no apple, this you've just got to basically get 125 00:06:57.480 --> 00:06:58.120 rid of the whole thing. 126 00:06:58.439 --> 00:07:01.879 That is why got to go. It's beyond repair. 127 00:07:02.319 --> 00:07:05.519 So yeah, there's a solution to this, which is that 128 00:07:05.720 --> 00:07:08.839 let's say something's cut that the people of this country 129 00:07:08.920 --> 00:07:12.720 just demand needs to exist again. It can always be 130 00:07:12.839 --> 00:07:17.319 voting back into existence by senator or instent colleagues. Totally, 131 00:07:17.360 --> 00:07:19.920 the fact that isn't going to happen. It feels exactly 132 00:07:19.959 --> 00:07:23.079 why many of these agencies really Deletion is the only 133 00:07:23.439 --> 00:07:24.439 answer that's left. 134 00:07:24.639 --> 00:07:26.160 Yes, exactly right. 135 00:07:26.279 --> 00:07:28.279 If it turns out we really need such an organization, 136 00:07:28.319 --> 00:07:32.000 if you should, we've just created pro solved by the people. Yes, 137 00:07:32.240 --> 00:07:36.720 by the people, answerable and answerable to the people and 138 00:07:36.759 --> 00:07:39.120 to the people's elected representatives. 139 00:07:39.279 --> 00:07:41.680 That is the way that GUMMT is supposed to work. 140 00:07:42.199 --> 00:07:48.279 That I agree, and more transparency. Sunshine is the best 141 00:07:48.319 --> 00:07:50.040 disinfectant out there. 142 00:07:50.480 --> 00:07:52.439 And sunshine that tells you something. 143 00:07:52.759 --> 00:07:56.279 Yes, we really we need to be able to exercise 144 00:07:56.319 --> 00:07:59.120 our oversight, and this is where we have been blocked 145 00:07:59.240 --> 00:08:01.720 so long in Congress. You can go on to my 146 00:08:01.800 --> 00:08:07.720 official website on the Internet. You can look through my priorities, 147 00:08:07.879 --> 00:08:10.480 go to my squeal area, you can go back. I've 148 00:08:10.519 --> 00:08:13.399 got the last several years on there of efforts, whether 149 00:08:13.439 --> 00:08:19.480 it's USAID, NIH, the National Institutes of Health, those taxpayer 150 00:08:19.480 --> 00:08:22.879 dollars that were going to China's Wuhan Institute of Virology, 151 00:08:23.720 --> 00:08:29.399 snap over payments through USDA and the states, you name it, 152 00:08:29.560 --> 00:08:30.480 the gosh. 153 00:08:30.680 --> 00:08:32.679 Just even back to work. 154 00:08:33.399 --> 00:08:36.600 My back to work report, the out of the office 155 00:08:36.720 --> 00:08:40.039 that we've talked so much about, and on day one, 156 00:08:40.159 --> 00:08:42.000 the President came in and said. 157 00:08:41.759 --> 00:08:43.519 Hey, everybody, back to work. 158 00:08:44.120 --> 00:08:49.440 I don't think most Americans understand that only six percent 159 00:08:49.480 --> 00:08:52.799 of our federal workforce shows up to work in the 160 00:08:52.879 --> 00:08:54.279 office every single day. 161 00:08:54.559 --> 00:08:56.080 Only six percent. 162 00:08:56.000 --> 00:08:58.279 Yes, And it's truly insane effect. 163 00:08:58.559 --> 00:09:01.240 And one of the most insane things I've seen was 164 00:09:01.799 --> 00:09:04.399 that I was speaking with the well hopefully I seemed 165 00:09:04.399 --> 00:09:06.919 to be Attorney General hand boundy, and she was telling 166 00:09:07.039 --> 00:09:10.159 that the US engraving is actually I guess we was 167 00:09:10.240 --> 00:09:12.759 used to the US MINT, which is actually the building 168 00:09:12.799 --> 00:09:16.720 that is an historic building, actually a beautiful building. Is 169 00:09:17.399 --> 00:09:19.720 it's here in d C and the windows are all 170 00:09:19.759 --> 00:09:23.279 broken and has turned into a homeless encampment. That means 171 00:09:23.399 --> 00:09:26.000 like this, somebody like this. No one comes to work 172 00:09:26.039 --> 00:09:29.919 to such a degree that this beautiful building has all 173 00:09:29.960 --> 00:09:31.960 the windows broken and it's been turned into a homeless 174 00:09:32.080 --> 00:09:35.480 encampment in downtown d C. That's how absurd it is. 175 00:09:36.000 --> 00:09:36.960 It's beyond belief. 176 00:09:37.360 --> 00:09:41.279 Yeah, and that's why so many of these buildings. If 177 00:09:41.320 --> 00:09:46.840 we could repopulate them, that would be great. And that 178 00:09:46.960 --> 00:09:50.279 way we can have oversight and make sure employees are 179 00:09:50.399 --> 00:09:53.279 doing what they're supposed to do. I'm going to hammer 180 00:09:53.320 --> 00:09:58.399 on USAID one more time. Yeah, So we talk about 181 00:09:58.399 --> 00:10:02.200 the locality pay a piece use, and that's what happens 182 00:10:02.240 --> 00:10:05.919 when people aren't working in the office what they're doing 183 00:10:05.960 --> 00:10:09.320 in DC and not everyone. I don't want to accuse 184 00:10:09.440 --> 00:10:12.480 every federal worker of being a bad actor, but I 185 00:10:12.519 --> 00:10:15.399 have seen so many examples of this. We had a 186 00:10:15.519 --> 00:10:20.279 USAID employee that was falsely using an office supply retailer's 187 00:10:20.559 --> 00:10:23.799 mailing address. I think like Staples and places like that, 188 00:10:24.480 --> 00:10:28.919 using that address in Virginia to defraud the taxpayers by 189 00:10:28.960 --> 00:10:34.600 claiming higher Washington, DC locality pay. But they were actually 190 00:10:34.639 --> 00:10:39.360 living in another state full time, and they had the 191 00:10:39.399 --> 00:10:44.000 full knowledge and assistance of their supervisor in pulling off 192 00:10:44.080 --> 00:10:49.720 this scam. And then and then the IG, the USAI 193 00:10:49.840 --> 00:10:54.799 d IG blew off my request for an investigation. 194 00:10:55.840 --> 00:10:56.840 Did they give that? 195 00:10:56.919 --> 00:11:00.039 Seems how can they do that? 196 00:11:00.639 --> 00:11:02.600 They can see them. 197 00:11:03.759 --> 00:11:07.399 This is the problem we have is that there are 198 00:11:07.480 --> 00:11:10.840 checks and balances in place where we can write letters 199 00:11:10.879 --> 00:11:14.799 all day and we can request IG oversight. But if 200 00:11:14.919 --> 00:11:21.240 that IG says I'm not going to investigate, I'm not interested. I, 201 00:11:21.759 --> 00:11:26.080 as a United States Senator, don't have the power to force. 202 00:11:25.799 --> 00:11:26.759 Them to do it. 203 00:11:27.639 --> 00:11:31.000 And this is why I'm so excited that we have 204 00:11:31.360 --> 00:11:35.919 DOGE and that we have a president that's willing to 205 00:11:36.039 --> 00:11:37.480 back us up. 206 00:11:37.919 --> 00:11:40.720 Absolutely so really, none of this could be done without 207 00:11:40.720 --> 00:11:42.919 the full support of the President. And with regard to 208 00:11:42.919 --> 00:11:45.879 the usa I D stuff, I went over with them 209 00:11:46.240 --> 00:11:50.120 in detail and he agreed with the that we should 210 00:11:50.120 --> 00:11:52.320 shut it down. And that's want to be clear, that's 211 00:11:52.799 --> 00:11:55.759 and I actually checked with him a few times. 212 00:11:56.440 --> 00:12:00.519 Are you sure, like yes, so we're shutting it down. Yeah. 213 00:12:00.559 --> 00:12:05.600 It's also incredibly politically partizant and has been supporting radical 214 00:12:05.639 --> 00:12:09.200 left causes throughout the world, including things that are anti American, 215 00:12:09.200 --> 00:12:10.759 which is insane, right, And. 216 00:12:10.759 --> 00:12:14.559 That's why there are probably some arguments to be made 217 00:12:14.639 --> 00:12:18.200 about what could be important work that falls under USAID. 218 00:12:18.480 --> 00:12:20.480 But the fact of the matter is that it's been 219 00:12:20.840 --> 00:12:24.879 it has been overshadowed by these bad actors. Yes, if 220 00:12:24.879 --> 00:12:28.639 there are truly good pro American programs, then let's move 221 00:12:28.639 --> 00:12:31.240 them to the State Department exactly. Let's make sure we 222 00:12:31.320 --> 00:12:34.759 have proper oversight. Let's make sure that when senators and 223 00:12:34.840 --> 00:12:38.399 congressmen are asking for documents that they provide them. 224 00:12:38.240 --> 00:12:39.320 In a timely manner. 225 00:12:39.559 --> 00:12:42.960 Yes, let's make sure the igs are upfront and honest 226 00:12:43.120 --> 00:12:46.559 and wanting to be the watchdog over the agencies that 227 00:12:46.600 --> 00:12:50.279 they are charged with. This is not rocket scientist, and 228 00:12:50.840 --> 00:12:52.200 you're a rocket scientist. 229 00:12:52.639 --> 00:12:57.200 This is simply common sense and being responsive to the electorate. 230 00:12:57.600 --> 00:13:02.440 And you just can't have these these sort of institutions 231 00:13:02.440 --> 00:13:05.720 which are taking let's tax payer money but then are 232 00:13:05.759 --> 00:13:09.639 not answerable to elected representatives of the public. 233 00:13:09.960 --> 00:13:12.039 Then they're totally disconnected. 234 00:13:12.399 --> 00:13:15.639 So I caull it like we must move away from 235 00:13:15.879 --> 00:13:18.799 the rule of the bureau to rule of the people 236 00:13:18.799 --> 00:13:20.039 at demos. 237 00:13:19.519 --> 00:13:21.559 And I would sink I'm hopeful that some of this 238 00:13:21.679 --> 00:13:27.039 creates momentum with interns, with some of your colleagues as well. 239 00:13:27.240 --> 00:13:30.519 In passing the Rains Act, right, half of this is 240 00:13:31.320 --> 00:13:36.240 decades of Congress effectively just punting off the responsibility to 241 00:13:36.279 --> 00:13:37.360 avoid accountability. 242 00:13:37.480 --> 00:13:39.960 Not you, but many of your colleagues over the years. 243 00:13:40.759 --> 00:13:43.879 And hopefully if this is a catalyst to say Congress 244 00:13:43.879 --> 00:13:46.279 and the Senate say we may take the lawmaking power 245 00:13:46.360 --> 00:13:51.159 back to the elected representatives of the people and get 246 00:13:51.159 --> 00:13:54.080 the kinds of things done that haven't gotten done for years, 247 00:13:54.120 --> 00:13:57.360 like the Rains Act and other mechanisms to say lawmaking 248 00:13:57.440 --> 00:14:00.559 power comes back to Congress. Think that could be one 249 00:14:00.559 --> 00:14:01.799 of the best things to come out of all of this. 250 00:14:02.559 --> 00:14:04.559 I'm hopeful that happens this time. I know you're supportive. 251 00:14:04.679 --> 00:14:07.679 Yeah, Like, fundamentally there's going to be a feedback loop 252 00:14:07.720 --> 00:14:10.639 to the people. You can't have these organizations that are 253 00:14:10.679 --> 00:14:15.039 just disconnected from the will of the people like you 254 00:14:15.080 --> 00:14:17.519 just fundamentally do not have a democracy in that situation. 255 00:14:18.000 --> 00:14:21.440 You have tyranny of the bureaucracy, which is just inappropriate 256 00:14:21.480 --> 00:14:22.240 and needs to end. 257 00:14:22.519 --> 00:14:24.039 By the way, and you know who's pumped up about 258 00:14:24.080 --> 00:14:27.759 you bringing everybody back to work is actually Muriel Bowser, 259 00:14:28.080 --> 00:14:31.240 mayor of DC. You're talking about the homeless encampments. I 260 00:14:31.279 --> 00:14:33.840 talked to her maybe last month or month and a 261 00:14:33.840 --> 00:14:37.159 half ago, And that's a Democrat, doesn't matter. It's basically 262 00:14:37.679 --> 00:14:40.960 the base principle of a self governance and b saving 263 00:14:41.039 --> 00:14:44.960 money and making sure that our buildings aren't being infested 264 00:14:45.000 --> 00:14:49.399 by homeless invasion, but instead is actually creating a thriving capital. 265 00:14:49.799 --> 00:14:54.000 I think is shockingly a bipartisan idea if we give 266 00:14:54.039 --> 00:14:56.279 people the permission to come out as Democrats and say 267 00:14:56.279 --> 00:14:57.919 those things make sense, which I think we're seeing some 268 00:14:58.000 --> 00:14:58.759 of which I think is cool. 269 00:14:58.960 --> 00:14:59.799 No, you're absolutely right. 270 00:15:00.120 --> 00:15:03.320 The lack of people showing up for work in d 271 00:15:03.480 --> 00:15:05.879 C has actually made DC look like a ghost town. 272 00:15:06.240 --> 00:15:08.960 In fact, parts of Really it looks post apocalyptic in 273 00:15:09.039 --> 00:15:12.200 parts of DC because once people start coming to work, 274 00:15:12.240 --> 00:15:14.960 then the restaurants close down. Then the stores closed down, 275 00:15:15.039 --> 00:15:17.279 and then you just have boarded up stores and restaurants, 276 00:15:17.799 --> 00:15:22.320 and it destroys the small businesses in downtown d C. Yeah, 277 00:15:22.360 --> 00:15:25.159 and there's a reason where people come to work and 278 00:15:25.320 --> 00:15:28.639 are more effective and more collaborative. In one place, they 279 00:15:28.720 --> 00:15:30.879 were rediscovering why do you have offices? Oh, it turns 280 00:15:30.879 --> 00:15:32.759 out there's a reason, and the President has made it 281 00:15:33.399 --> 00:15:33.879 more clear. 282 00:15:35.600 --> 00:15:37.960 Return to work. That's it, end of story. 283 00:15:38.840 --> 00:15:40.519 I think the first two weeks has been pretty massive, 284 00:15:40.919 --> 00:15:43.480 and if it continues at that rate, even if you 285 00:15:43.519 --> 00:15:46.919 think about one of the big economic questions right now 286 00:15:47.039 --> 00:15:49.320 is the ten year treasury rates, right, they're going up. 287 00:15:49.799 --> 00:15:53.200 Bond markets don't like our national debt. If this is 288 00:15:53.279 --> 00:15:56.720 the pace of what cutting looks like presented in a 289 00:15:57.240 --> 00:16:02.240 coherent plan, I'm hopeful that bond investors and credit investors 290 00:16:02.240 --> 00:16:04.240 in the US government debt can at least say, Okay, 291 00:16:04.279 --> 00:16:08.639 this is positive progress which actually will bring down not 292 00:16:08.679 --> 00:16:11.639 only the costs that you're cutting directly, but also our 293 00:16:11.679 --> 00:16:14.240 interest rate costs. Yes, and I think that's really when 294 00:16:14.279 --> 00:16:16.559 we hit a you know, virtuous cycle here, which I 295 00:16:16.559 --> 00:16:17.399 think could happen soon. 296 00:16:18.039 --> 00:16:21.720 No, I agree, Actually, the bond marks do not currently 297 00:16:21.759 --> 00:16:26.440 reflect the savings that I'm confident we can achieve. And 298 00:16:26.480 --> 00:16:29.159 I'm actually I'm giving a talk later this week with 299 00:16:29.360 --> 00:16:32.480 JP Morgan Chase and Jamie Diamond and this little bit 300 00:16:32.480 --> 00:16:35.600 obviously with financial audience and really to just to say, look, 301 00:16:35.840 --> 00:16:37.840 if you're shorting bonds, I think you're on the wrong 302 00:16:37.879 --> 00:16:40.399 side of the bet. It's basically seriously, yeah, it's really 303 00:16:40.480 --> 00:16:44.039 basically the bond will there will be less debt needed 304 00:16:44.519 --> 00:16:48.720 as we as we stop wasting taxpayer money on crazy things. 305 00:16:48.960 --> 00:16:49.240 Whatever. 306 00:16:49.279 --> 00:16:53.000 The fifty million dollars for condoms to Gaza, which I 307 00:16:53.039 --> 00:16:56.159 suspect didn't actually end up being condoms in Gaza, that's 308 00:16:56.200 --> 00:16:57.279 a lot of condoms, guys. 309 00:16:57.519 --> 00:17:00.279 What is it a super bank or condoms? I mean, who, 310 00:17:01.240 --> 00:17:03.679 oh my gosh, you guys, that's the real line item. 311 00:17:06.400 --> 00:17:10.519 I don't doubt if we did have those items going 312 00:17:10.519 --> 00:17:11.079 to Gaza. 313 00:17:11.400 --> 00:17:12.839 I don't know if it was that many. 314 00:17:12.960 --> 00:17:13.319 But this is. 315 00:17:16.640 --> 00:17:17.480 The problem. 316 00:17:17.960 --> 00:17:22.440 It was probably that line item, but god knows what exactly. 317 00:17:22.559 --> 00:17:25.720 But that's the problem we have with the budget and 318 00:17:25.759 --> 00:17:30.279 why when moneys flow through all of these entities. We 319 00:17:30.359 --> 00:17:34.920 may have a line item that goes to say USAID 320 00:17:35.400 --> 00:17:40.079 and or maybe goes through USAID to the United Nations, 321 00:17:40.119 --> 00:17:42.759 and then from the United Nations it goes to a 322 00:17:42.799 --> 00:17:46.480 subcontractor and from that subcontractor it goes to someone else. 323 00:17:46.839 --> 00:17:50.640 It is a nightmare trying to follow that money and 324 00:17:50.720 --> 00:17:54.000 to understand what it's actually being used for. So again 325 00:17:54.160 --> 00:17:57.279 going back to the transparency, we just we need to 326 00:17:57.319 --> 00:18:00.200 make sure that we have our eyes on it and 327 00:18:00.240 --> 00:18:03.799 that it's easily accessible and maybe not just by members 328 00:18:03.799 --> 00:18:05.880 of Congress, but also the public as well. 329 00:18:06.640 --> 00:18:07.599 I agree it should be. 330 00:18:08.039 --> 00:18:10.519 If it's public money being spent, it should be in 331 00:18:10.599 --> 00:18:13.400 full view of the public. And when they want to 332 00:18:13.440 --> 00:18:16.640 hide this stuff, frankly, it is the reality is because 333 00:18:16.680 --> 00:18:18.079 there's massive fraud and abuse. 334 00:18:18.319 --> 00:18:19.200 That's the reality. 335 00:18:19.519 --> 00:18:22.839 Nobody needs to hide something unless they have something to hide. 336 00:18:23.039 --> 00:18:24.799 Once in a while you've got something that's say. 337 00:18:24.799 --> 00:18:28.480 An intelligence operation or that actually needs to be classified, 338 00:18:28.480 --> 00:18:32.680 but that's a rare situation. That's a tiny fraction of expenditures. 339 00:18:32.920 --> 00:18:37.480 The vast majority of these things, it's unfortunately a truands 340 00:18:37.519 --> 00:18:41.559 amount of fraud and abuse. And the reason that it's 341 00:18:41.599 --> 00:18:45.039 so extreme with the federal government is that the checks 342 00:18:45.119 --> 00:18:48.480 never bounce for the federal government. Okay, so the federal 343 00:18:48.519 --> 00:18:51.319 government can always make more money, and the problem is 344 00:18:51.359 --> 00:18:55.160 that in doing so, that's what creates inflation. Something that 345 00:18:55.200 --> 00:18:58.119 I really want to reinforce for people is that it's 346 00:18:58.160 --> 00:19:01.880 government spending that creates inflation. So when you see prices 347 00:19:01.920 --> 00:19:04.880 go up at the grocery store, it's because government spent 348 00:19:04.960 --> 00:19:08.039 more money than broad in taxes, increased the money supply, 349 00:19:08.480 --> 00:19:11.319 deluted the value of money, and made you made your 350 00:19:11.359 --> 00:19:15.519 paycheck go be less valuable. It means it meant like 351 00:19:15.880 --> 00:19:19.799 the prices are going up because of government induced spending. 352 00:19:20.119 --> 00:19:22.000 Of government spending that results in inflation. 353 00:19:22.519 --> 00:19:25.599 So now it's just very important to connect those dots 354 00:19:25.759 --> 00:19:28.960 because people don't. They think maybe the supermarket is taking 355 00:19:29.000 --> 00:19:31.119 advantage of them, and they're not. You can look at 356 00:19:31.119 --> 00:19:34.279 the financials of the supermarket. They have two percent margins. 357 00:19:34.079 --> 00:19:36.599 It's going to do with price scouting the supermarket. It's 358 00:19:36.640 --> 00:19:39.799 just that the government spent too much that increased the 359 00:19:39.799 --> 00:19:42.759 money supply and diluted the value of somebody's paycheck, and 360 00:19:42.799 --> 00:19:44.880 that's why the prices go up at the grocery store. 361 00:19:45.079 --> 00:19:50.000 So the good news is if we solve government over 362 00:19:50.039 --> 00:19:54.519 spending and the money supply grows at the same rate 363 00:19:54.920 --> 00:19:57.440 as the output of goods and services, there will be 364 00:19:57.519 --> 00:20:00.839 no inflation and the prices in the supermarket now will 365 00:20:00.839 --> 00:20:02.839 be the same as the process supermarket in a year, 366 00:20:03.440 --> 00:20:05.759 and that's a super big deal, and that really affects 367 00:20:05.759 --> 00:20:08.519 people's lives. That's what we're aiming for, and we're going 368 00:20:08.599 --> 00:20:10.480 to do everything possible to succeed in that goal. 369 00:20:10.960 --> 00:20:12.599 And I think every dollar saved. 370 00:20:12.720 --> 00:20:16.799 The problem you just mentioned, Elon is exactly why in 371 00:20:16.839 --> 00:20:21.480 your interest rates on US treasuries are persistently going up, 372 00:20:21.640 --> 00:20:24.400 even if the government's trying to make them go down, 373 00:20:24.440 --> 00:20:27.759 the market's bidding them right back up. But conversely, for 374 00:20:27.920 --> 00:20:31.079 every dollar hard dollar actually saved, right, so how many 375 00:20:31.079 --> 00:20:33.759 ever billion it was in the first two weeks, there's 376 00:20:33.799 --> 00:20:37.079 actually it's almost like a two to one saving because 377 00:20:37.079 --> 00:20:40.039 that means that the interest rate that lenders to the 378 00:20:40.119 --> 00:20:43.240 US government charge will go down at a time when 379 00:20:43.240 --> 00:20:46.920 the interest rate payment itself on our national debt is 380 00:20:47.000 --> 00:20:49.400 one of the biggest items of our federal budget. Yeah, 381 00:20:49.559 --> 00:20:51.880 so that automatically comes down for every one of these 382 00:20:51.920 --> 00:20:54.960 other savings, exactly. And the only thing to be presented 383 00:20:54.960 --> 00:20:57.720 as a coherent plan, which I think you're already beginning 384 00:20:57.759 --> 00:21:00.640 to do that alone, I think will have a two 385 00:21:00.640 --> 00:21:03.599 to one savings for every dollar that's actually hard dollar 386 00:21:03.680 --> 00:21:06.160 that's actually saved, because you get the interest cost next 387 00:21:06.279 --> 00:21:08.319 year that comes down as a consequence as well. 388 00:21:08.440 --> 00:21:10.559 Yeah, that's that's actually a very good point you just made. 389 00:21:10.920 --> 00:21:13.319 I just wanted to basically repeat that and reiterate that 390 00:21:13.359 --> 00:21:15.880 for the audience. When you get you actually get a 391 00:21:15.920 --> 00:21:19.480 double benefit when you bring down government spending, and it's 392 00:21:19.519 --> 00:21:21.759 a very important double benefit, which is that you stop 393 00:21:21.799 --> 00:21:25.920 inflation and interest payments go down because the government is 394 00:21:25.960 --> 00:21:30.039 no longer borrowing money. So if the govern is borrowing money, 395 00:21:30.039 --> 00:21:32.599 it's actually competing with everyone else to borrow money, and 396 00:21:32.640 --> 00:21:36.559 that drives up the interest rate. So if we solve 397 00:21:36.599 --> 00:21:40.880 government spending in a nutshell, your grocery both days the same, 398 00:21:41.319 --> 00:21:43.079 your mortgage payment goes down. 399 00:21:43.079 --> 00:21:45.599 And your call payment goes down, and your credit card 400 00:21:45.599 --> 00:21:49.160 bill goes down, exactly. I think that's what the people 401 00:21:49.160 --> 00:21:49.880