1
00:00:00,240 --> 00:00:03,439
Speaker 1: By Trump coming in with the ferocity that he has,

2
00:00:03,799 --> 00:00:06,040
it's going to make all those arguments, it's going to

3
00:00:06,040 --> 00:00:08,880
put him front and center on the public public stage

4
00:00:08,880 --> 00:00:11,720
in America. Is going to get to you know, throw

5
00:00:11,759 --> 00:00:15,000
their support behind it, and hopefully the courts do the

6
00:00:15,039 --> 00:00:17,719
same thing. And you know, we can accomplish a lot,

7
00:00:17,800 --> 00:00:20,879
but you know, we're we're in the early innings and

8
00:00:21,600 --> 00:00:24,239
this game, this game is going to be going on

9
00:00:24,359 --> 00:00:27,039
for a while. But I do know that Trump is

10
00:00:27,160 --> 00:00:30,160
really thinking in terms of a deadline. He thinks he's

11
00:00:30,160 --> 00:00:34,079
not thinking like day fifteen. He's more thinking like what

12
00:00:34,240 --> 00:00:37,119
is it, you know, two years minus fifteen days, and

13
00:00:37,159 --> 00:00:39,079
we've only got so many more days.

14
00:00:38,799 --> 00:00:41,280
Speaker 2: To accomplish accomplished.

15
00:00:41,320 --> 00:00:44,240
Speaker 1: So he's he's acting with a sense of urgency that

16
00:00:44,280 --> 00:00:45,399
we've never seen before.

17
00:00:45,560 --> 00:00:49,359
Speaker 3: You were listening to Carrie Let's's Financial Survival Network, where

18
00:00:49,399 --> 00:00:52,799
you get valuable information you just can't find anywhere else

19
00:00:53,359 --> 00:00:56,960
to thrive in today's trying times. You need the Financial

20
00:00:57,039 --> 00:01:02,119
Survival Network now more than ever. Go to Financial Survivalnetwork

21
00:01:02,159 --> 00:01:05,920
dot com and get your free newsletter and gift. Financial

22
00:01:06,040 --> 00:01:09,719
Survival Network now more than ever.

23
00:01:12,959 --> 00:01:16,840
Speaker 4: And welcome. You aren't listening to the Financial Survival Network.

24
00:01:16,879 --> 00:01:21,359
I'm your host, Carrie Lutz, And man, what a January.

25
00:01:22,280 --> 00:01:26,519
It has been two weeks of January eleven days and

26
00:01:26,560 --> 00:01:32,040
now we're barely we're not even three weeks into the

27
00:01:32,079 --> 00:01:37,840
second term, non consecutive term of President Trump. And well,

28
00:01:37,920 --> 00:01:41,400
Bill Walton is with us, host of the Bill Walton Show. Bill,

29
00:01:41,640 --> 00:01:45,359
you are a vice chairman of CPAC, long term CEO

30
00:01:46,079 --> 00:01:50,439
of the New York Stock Exchange traded investment company. So

31
00:01:51,000 --> 00:01:55,519
you kind of know business and you know politics, and

32
00:01:56,200 --> 00:01:59,599
if you're like me, you probably prefer business, but politics

33
00:01:59,680 --> 00:02:05,560
become unavoidable. This has been the most incredible opening salvo

34
00:02:05,640 --> 00:02:09,599
of an administration that I had ever seen. You agree

35
00:02:09,639 --> 00:02:09,879
with that?

36
00:02:10,759 --> 00:02:14,479
Speaker 2: Oh yeah, and uh and and and uh and.

37
00:02:14,439 --> 00:02:18,199
Speaker 1: I like most of it. Fantastic. You know, I worked.

38
00:02:18,240 --> 00:02:22,280
I worked on his transition in twenty sixteen. I headed

39
00:02:22,319 --> 00:02:26,960
up all the financial agencies, writing action plans and landing.

40
00:02:27,159 --> 00:02:30,879
You know, had headed up landing teams and this is

41
00:02:31,000 --> 00:02:33,759
night and day and this is just you know, before

42
00:02:33,840 --> 00:02:35,639
they he wasn't really prepared.

43
00:02:35,719 --> 00:02:38,879
Speaker 2: Now he's totally prepared. I feel prepared.

44
00:02:39,879 --> 00:02:43,199
Speaker 1: I feel like he's been like Eisenhower planning D Day

45
00:02:43,280 --> 00:02:46,319
and he's uh he's hit the beaches and he's but

46
00:02:46,360 --> 00:02:48,479
he's not just did a couple of beaches. He's hit

47
00:02:48,639 --> 00:02:52,560
ninety five of ninety five different things in a little

48
00:02:52,560 --> 00:02:53,319
over two weeks.

49
00:02:53,319 --> 00:02:53,800
Speaker 2: It's great.

50
00:02:54,240 --> 00:02:59,240
Speaker 4: And it's called the opposition flat footed, hasn't he Yeah,

51
00:02:59,280 --> 00:03:03,240
shock and awe, shock and all. They're back there. They're

52
00:03:03,280 --> 00:03:05,400
back on their heels, that's for sure. And yeah, I

53
00:03:05,439 --> 00:03:09,360
live in the Washington, DC area, and it's yeah, so in.

54
00:03:09,360 --> 00:03:12,719
Speaker 1: Ninety five percent of the Kamala vote, and you know,

55
00:03:12,800 --> 00:03:16,080
it's a great pleasure to watch them suffer.

56
00:03:17,120 --> 00:03:21,680
Speaker 4: Friends. Yeah, yeah, So you know, I'm going to talk

57
00:03:21,680 --> 00:03:26,680
about what do you think the three most significant things

58
00:03:26,719 --> 00:03:30,479
that he's done actions he's taken in the first I

59
00:03:30,479 --> 00:03:32,000
mean we're at three weeks, right.

60
00:03:34,080 --> 00:03:35,960
Speaker 2: Not even two and a half weeks, Yeah.

61
00:03:35,759 --> 00:03:39,400
Speaker 4: Two and a half weeks. Pretty it's a remarkable start.

62
00:03:39,479 --> 00:03:43,680
I mean, I've followed politics and I've heard a lot

63
00:03:43,680 --> 00:03:45,800
of people say they're going to come to Washington and

64
00:03:45,879 --> 00:03:52,719
change the culture, and invariably the culture changes them, perhaps

65
00:03:53,439 --> 00:03:56,919
going back to Reagan, you know, I mean I was

66
00:03:56,960 --> 00:04:00,639
barely alive when Kennedy came with his eggs as they

67
00:04:00,639 --> 00:04:04,240
called them, you know, the best of academia, and they

68
00:04:04,319 --> 00:04:09,280
screwed things up even worse. And then you know LBJ

69
00:04:09,960 --> 00:04:12,759
all that awful. But Reagan was really going to be

70
00:04:12,800 --> 00:04:15,639
a disruptor and everything else. And to some extent he

71
00:04:15,759 --> 00:04:18,519
slowed down the pace of spending, but he was never

72
00:04:19,240 --> 00:04:22,199
able any cut taxes, of course, but he was never

73
00:04:22,279 --> 00:04:25,800
able to effectuate the change. This is something we've never

74
00:04:25,839 --> 00:04:29,120
seen anything like before, have we never.

75
00:04:29,639 --> 00:04:35,920
Speaker 1: Not in the history of the government employees union, that's

76
00:04:35,959 --> 00:04:39,240
for sure. And yeah, when was a civil service forum

77
00:04:39,399 --> 00:04:43,439
in eighteen seventy eighteen eighty after I guess Grant's administration.

78
00:04:44,279 --> 00:04:47,360
You know, they used political appointees to pay people off,

79
00:04:47,399 --> 00:04:52,120
and they thought, gee, we'll create a permanent group of

80
00:04:52,519 --> 00:04:56,839
bureaucrats and they'll be much better than political appointees.

81
00:04:57,360 --> 00:04:58,600
Speaker 2: Well they were wrong.

82
00:04:59,240 --> 00:05:03,879
Speaker 4: Yeah, yeah, well they're the most entrenched. But the so

83
00:05:04,319 --> 00:05:09,319
we're looking at, you know, these executive orders, which I

84
00:05:09,319 --> 00:05:14,720
guess presidents have always had this power to issue them,

85
00:05:15,160 --> 00:05:22,959
but these are so directed and so focused and disruptive, right,

86
00:05:23,319 --> 00:05:27,240
I mean, it's just well, yeah, and.

87
00:05:28,439 --> 00:05:30,560
Speaker 2: You know, here's here's here's where we are.

88
00:05:30,639 --> 00:05:35,240
Speaker 1: Though he's he's been rapid fire executive orders, and I like,

89
00:05:36,240 --> 00:05:38,040
there might be one I don't like, but I haven't

90
00:05:38,079 --> 00:05:42,720
seen it, and issuing executive orders to you know, end

91
00:05:43,040 --> 00:05:47,240
DEI and climate change mandates, the Holy government approach to

92
00:05:47,319 --> 00:05:51,199
that under Biden. And so he just put the stroke

93
00:05:51,279 --> 00:05:54,920
of a pen says every department of the federal government

94
00:05:55,000 --> 00:05:58,879
is going to purge itself of its DEI emphasis. And

95
00:05:59,000 --> 00:06:03,279
also the their programs have also been supporting the climate

96
00:06:03,360 --> 00:06:07,720
change agenda. So and then you know we're all watching

97
00:06:07,879 --> 00:06:12,920
with with just discussed really what what U. S a

98
00:06:13,079 --> 00:06:15,279
i d has been up to, and you know, with

99
00:06:15,319 --> 00:06:17,199
the stroke of a pen, he's shut down U.

100
00:06:17,240 --> 00:06:17,720
Speaker 2: S a i D.

101
00:06:17,920 --> 00:06:20,519
Speaker 1: Now, this is an example I think of where we're

102
00:06:20,519 --> 00:06:23,079
going to end up six months from now. Is a

103
00:06:23,120 --> 00:06:25,360
lot of this that he's doing. It's unclear whether he's

104
00:06:25,399 --> 00:06:28,000
got the authority to do it. Some of it's got

105
00:06:28,000 --> 00:06:31,759
to be Congress. And so this is this is gonna

106
00:06:32,000 --> 00:06:34,920
you know, the armies of lawyers are just beginning, just

107
00:06:34,959 --> 00:06:38,279
beginning their work. So this is once I think, you know,

108
00:06:38,319 --> 00:06:40,839
I feel like we can take the beaches, but once

109
00:06:40,839 --> 00:06:43,240
we start moving inland, I think we're going to meet

110
00:06:43,279 --> 00:06:45,600
with a lot more resistance. It doesn't mean we can't

111
00:06:45,639 --> 00:06:48,680
get things done, but it's it's going to look ugly

112
00:06:49,519 --> 00:06:51,680
as as the infighting gets going.

113
00:06:52,480 --> 00:06:56,360
Speaker 4: Yeah. Well, the US AID, which is there's no AID

114
00:06:56,399 --> 00:07:02,360
in it really, it's the agency for where International Development

115
00:07:02,399 --> 00:07:06,079
has always been a cutout for the CIA, a front

116
00:07:06,120 --> 00:07:11,199
for them exercising American soft power. Yeah, there's like, yes,

117
00:07:11,319 --> 00:07:14,560
they do feed people rice and beans around the world

118
00:07:15,160 --> 00:07:20,519
health things, but you know, projection of soft power. But man,

119
00:07:20,600 --> 00:07:24,600
the corruption there is just so deep. They're even financing

120
00:07:25,160 --> 00:07:31,959
the lawfare prosecutors to go after Trump. They financed Trump's impeachment,

121
00:07:32,959 --> 00:07:38,160
and then they're funding all the illegal immigrants coming into

122
00:07:38,160 --> 00:07:41,600
the country a tune of like over half a billion.

123
00:07:42,639 --> 00:07:44,199
I mean, this is insane here.

124
00:07:44,800 --> 00:07:47,319
Speaker 1: Well, the other thing that's come out just recently is

125
00:07:47,360 --> 00:07:53,000
that they just today they funded ten million dollars of

126
00:07:54,120 --> 00:07:56,680
meals to al Qaeda link terrorist.

127
00:07:57,279 --> 00:08:01,160
Speaker 4: I was nice to them where they hallal compliant.

128
00:08:02,800 --> 00:08:06,759
Speaker 1: Probably, And you know it's interesting you call it a

129
00:08:07,199 --> 00:08:11,120
uh CIA cutout, and that's that's certainly true. But the

130
00:08:11,199 --> 00:08:15,720
thing to think about now is CIA has changed dramatically

131
00:08:15,759 --> 00:08:19,680
in the last last decade two decades, and it's the

132
00:08:19,800 --> 00:08:24,240
CIA has has become a bit of woke as many universities.

133
00:08:24,279 --> 00:08:27,399
And uh, my friend Mike Waller wrote a book called

134
00:08:27,439 --> 00:08:32,480
Big Intel. He has been along followed the CIA and

135
00:08:32,480 --> 00:08:36,639
and they've been provoting these diversity programs and all the

136
00:08:36,799 --> 00:08:40,240
various things that that Trump is reversing. And so the

137
00:08:40,320 --> 00:08:45,399
CIA is actually exporting those diversity programs to uh, to

138
00:08:45,480 --> 00:08:46,080
the U.

139
00:08:46,200 --> 00:08:46,600
Speaker 2: S a i.

140
00:08:46,679 --> 00:08:51,320
Speaker 1: D recipients. So it's, uh, it's not the it's not

141
00:08:51,360 --> 00:08:55,399
your grandfather's CIA. It's a totally different different agenda.

142
00:08:56,279 --> 00:09:00,559
Speaker 4: Yeah, and uh wow, it's just just to all of

143
00:09:00,600 --> 00:09:03,240
the things that we're doing. And I assume we're going

144
00:09:03,320 --> 00:09:08,200
to see this in many other departments. These slush funds.

145
00:09:08,240 --> 00:09:11,840
I know for a fact that after the mortgage meltdown

146
00:09:12,000 --> 00:09:17,559
in eight nine, the government sued all these banks and

147
00:09:17,600 --> 00:09:21,320
they all set aside money for all these different purposes,

148
00:09:22,240 --> 00:09:26,279
and basically they became slush funds. I'm sure they're still

149
00:09:26,279 --> 00:09:30,000
floating around there right absolutely.

150
00:09:30,320 --> 00:09:32,559
Speaker 1: Well, you know there's a there's a flush slush fund

151
00:09:32,639 --> 00:09:35,960
sitting out and right out in the open. There's a

152
00:09:35,960 --> 00:09:38,720
four hundred billion dollar fund at the Department of Energy

153
00:09:38,759 --> 00:09:42,120
that in a long time ago was was the unit

154
00:09:42,159 --> 00:09:46,279
that funded sulurin So Lindra, you remember that.

155
00:09:46,799 --> 00:09:47,039
Speaker 2: Sure.

156
00:09:47,240 --> 00:09:49,720
Speaker 1: Now it's been run by John Podesta and it's been

157
00:09:49,799 --> 00:09:53,679
doling money out to win mill of projects and solar

158
00:09:53,720 --> 00:09:57,080
and so on and so forth, and uh, you know,

159
00:09:57,120 --> 00:10:01,159
the amount of graft and corruption I think we'll see

160
00:10:01,440 --> 00:10:05,000
once the Doge starts auditing that fun we'll make the

161
00:10:05,480 --> 00:10:08,600
numbers at usai D look like chump change.

162
00:10:09,240 --> 00:10:12,720
Speaker 4: Yeah. So Musk says he thinks he can save four

163
00:10:12,840 --> 00:10:18,200
billion dollars a day, which would be the equivalent right

164
00:10:18,320 --> 00:10:22,399
of about a trillion and a half dollars. Could it

165
00:10:22,519 --> 00:10:24,320
possibly be that much waste?

166
00:10:25,000 --> 00:10:27,440
Speaker 2: Well, you know, yeah, I think so.

167
00:10:27,960 --> 00:10:30,559
Speaker 1: But the waste is a funny thing because it's not

168
00:10:30,679 --> 00:10:35,679
just spending extra money. Remember the Pentagon with their spending

169
00:10:35,799 --> 00:10:38,639
you know, nine hundred dollars for a toilet seed or

170
00:10:38,639 --> 00:10:40,919
something like that. There's that kind of waste, but there's

171
00:10:40,960 --> 00:10:45,639
also just the you know, I would call it total

172
00:10:45,720 --> 00:10:50,360
misallocated resources, hiring consultants that you don't need, you know,

173
00:10:50,440 --> 00:10:52,960
grossing it up. And it's uh, you know, once you

174
00:10:53,000 --> 00:10:55,240
start looking at what the purpose of any of these

175
00:10:55,279 --> 00:10:57,639
agencies is, I think we're going to find that their

176
00:10:57,679 --> 00:11:02,399
mission creep has been extensive and a lot of money

177
00:11:02,480 --> 00:11:05,480
is getting spent on things that aren't even closely related

178
00:11:05,559 --> 00:11:08,200
to what that agency is supposed to be doing, which

179
00:11:08,240 --> 00:11:12,080
we're seeing in the case of aid I mean, AIDS

180
00:11:12,600 --> 00:11:16,080
sent six point three million dollars to study men having

181
00:11:16,120 --> 00:11:18,720
sex with other men in South Africa.

182
00:11:20,159 --> 00:11:24,879
Speaker 4: Well that was necessary, you know. Well remember the toilet

183
00:11:24,960 --> 00:11:28,960
seats at the Pentagon. Well now they're spending twelve hundred

184
00:11:29,000 --> 00:11:33,679
dollars on these insulated cups for airplanes because they can't

185
00:11:33,759 --> 00:11:36,799
leak or anything, and you could buy them on the

186
00:11:37,120 --> 00:11:41,120
Amazon for like thirty bucks. You know, the waste is

187
00:11:41,240 --> 00:11:46,679
just monumental. But yeah, it's crazy. And then they're paying

188
00:11:47,320 --> 00:11:52,639
opposition liberal press, right, thirty two million bucks to Politico.

189
00:11:52,960 --> 00:11:57,679
That's from all aspects of government. And then the people

190
00:11:57,759 --> 00:12:01,360
who are writing the checks at the Treasury are told

191
00:12:01,440 --> 00:12:04,480
never to reject the payment, to make every single payment

192
00:12:04,559 --> 00:12:08,879
no matter what, whether it's fraud related, terror related, or whatever.

193
00:12:09,279 --> 00:12:11,480
Is that any way to run an airline here.

194
00:12:11,559 --> 00:12:14,919
Speaker 1: Bill, Well, of course not, it's And you know what

195
00:12:14,960 --> 00:12:19,240
they're doing is they they came into the dark room

196
00:12:19,320 --> 00:12:22,960
of the federal government and threw a bright spotlight and

197
00:12:23,080 --> 00:12:27,080
do it. And all the cockroaches are running, running like

198
00:12:27,240 --> 00:12:30,200
mad scattering, and so, as you point out, it's not

199
00:12:30,240 --> 00:12:33,919
just USA D but all the other agencies have similar

200
00:12:34,000 --> 00:12:37,919
kinds of misallocation of resources. And the thing I'm telling

201
00:12:37,919 --> 00:12:40,840
you what the Match Labs chairman of Seapack and we

202
00:12:40,879 --> 00:12:45,039
were talking this morning. The legality of what Trump's doing,

203
00:12:46,240 --> 00:12:50,240
whether it needs to be Congress, is authorized by Congress,

204
00:12:50,519 --> 00:12:53,519
is unclear in many cases. But what is clear is

205
00:12:53,559 --> 00:12:57,360
it by the work that Elon Musk is doing. He's

206
00:12:57,399 --> 00:13:03,159
exposing egregious behavior in public opinion, which has been behind Trump.

207
00:13:03,200 --> 00:13:05,519
You know, his approval ratings that are all time high.

208
00:13:06,080 --> 00:13:09,960
I think his public opinion ratings and the support that

209
00:13:10,440 --> 00:13:14,200
American is going to have to put an end and

210
00:13:14,480 --> 00:13:17,519
to dismantle this stuff is going to be unprecedented. I mean,

211
00:13:17,799 --> 00:13:20,200
everybody kind of had a gas about this was bad.

212
00:13:20,240 --> 00:13:23,399
We heard this do other but now you lay it

213
00:13:23,440 --> 00:13:25,679
all out, and you know, I only showed you.

214
00:13:25,679 --> 00:13:27,279
Speaker 2: I only mentioned one example.

215
00:13:27,480 --> 00:13:30,879
Speaker 1: They're like thirty or forty examples usad of stuff that

216
00:13:31,879 --> 00:13:32,879
you know makes you sick.

217
00:13:33,679 --> 00:13:36,559
Speaker 4: Yeah, and we look, we knew the money was being wasted,

218
00:13:36,879 --> 00:13:40,399
we just didn't know the specifics. We sensed it was bad,

219
00:13:40,799 --> 00:13:44,559
at least this bad because from twenty nineteen, and we

220
00:13:44,559 --> 00:13:50,360
weren't exactly spending money responsibly then to now the budget's

221
00:13:50,399 --> 00:13:53,000
got up a trillion and a half dollars and it's

222
00:13:53,000 --> 00:13:55,639
not like we're getting anything more for our money here.

223
00:13:56,240 --> 00:14:00,159
So this is just But we talked last time, you

224
00:14:00,200 --> 00:14:03,639
and I were among the few talking about it President's

225
00:14:03,799 --> 00:14:08,679
impoundment authority. So do you think the Supreme Court will

226
00:14:08,960 --> 00:14:12,080
say to the president, you got to spend this money

227
00:14:12,440 --> 00:14:17,399
that Congress allocated, even if you're literally digging a hole,

228
00:14:18,639 --> 00:14:21,200
putting the money in there and lighting it a blaze.

229
00:14:21,679 --> 00:14:23,600
If the Congress says you have to do it, you

230
00:14:23,679 --> 00:14:27,639
have to do it. Can the Supreme Court really rule

231
00:14:27,720 --> 00:14:29,519
that way? Or is there a middle ground?

232
00:14:30,559 --> 00:14:34,159
Speaker 2: Well, isn't that the thing that they nailed Nixon on? Yeah?

233
00:14:34,159 --> 00:14:36,919
But that and go ahead.

234
00:14:37,559 --> 00:14:40,279
Speaker 4: I was just going to say that was during Watergate,

235
00:14:40,840 --> 00:14:43,919
really didn't put any attention to it. It went to

236
00:14:43,960 --> 00:14:47,279
the Supreme Court. That was the war in court and

237
00:14:48,600 --> 00:14:49,480
things have changed.

238
00:14:50,600 --> 00:14:54,679
Speaker 1: Well, see that's my point, my earlier point about public opinion.

239
00:14:55,240 --> 00:14:59,200
I mean, Nixon, when he tried to make that exert

240
00:14:59,279 --> 00:15:03,039
that power, was one of the most unpopular presidents in

241
00:15:03,080 --> 00:15:09,480
American history, and consequently ruling against him was a slam dunk.

242
00:15:09,519 --> 00:15:12,840
I think with Trump with public opinion, when is it back,

243
00:15:12,919 --> 00:15:15,279
I would I would suspect the courts are you know,

244
00:15:15,320 --> 00:15:18,480
they pay a lot more attention to public opinion and

245
00:15:18,480 --> 00:15:22,080
what people really feel like they want, then they will admit.

246
00:15:22,559 --> 00:15:23,200
Speaker 2: And so the.

247
00:15:25,120 --> 00:15:27,919
Speaker 1: More the public opinion climate and the legal climate, I

248
00:15:27,960 --> 00:15:32,039
think it could be different. And if the president could

249
00:15:32,720 --> 00:15:36,759
in fact invoke impowerment powers, that would be that would

250
00:15:36,840 --> 00:15:40,279
be a massive improvement over what we have now.

251
00:15:40,720 --> 00:15:42,759
Speaker 2: And I think I think there's a good chance that

252
00:15:43,279 --> 00:15:44,759
that Trump was going to win that argument.

253
00:15:45,320 --> 00:15:47,840
Speaker 4: I think so too. You got to it's got to

254
00:15:47,879 --> 00:15:51,600
be a rule of reason here, right. You can't just

255
00:15:51,720 --> 00:15:57,679
say that if somebody's driving the car at one hundred

256
00:15:57,720 --> 00:16:00,279
and fifty miles an hour and heading to it's a

257
00:16:00,320 --> 00:16:04,679
cliff that the state trooper can't pull them over. And

258
00:16:05,759 --> 00:16:08,320
you know, it's the same thing here with the spending.

259
00:16:08,879 --> 00:16:13,240
So there's going to be a middle ground. But you

260
00:16:13,320 --> 00:16:18,519
can't have these discretionary spending programs at these agencies. It's

261
00:16:18,559 --> 00:16:20,840
all got to be written down what they can spend

262
00:16:20,879 --> 00:16:23,480
it on and what they can't. You know, that's part

263
00:16:23,480 --> 00:16:27,840
of the problem here because discretionary spending turns into slush funds.

264
00:16:28,639 --> 00:16:31,639
Speaker 1: Well, yeah, and I think Congress with that, you know,

265
00:16:31,679 --> 00:16:35,440
Supreme Court ruled on Chevron, and what had happened was

266
00:16:35,519 --> 00:16:39,120
Congress had really kicked all the decisions and power over

267
00:16:39,200 --> 00:16:43,559
to the executive branches agencies, and the agencies were writing

268
00:16:43,600 --> 00:16:48,639
the rules and regulations and government. Really Congress really wasn't involved. Well, now,

269
00:16:48,720 --> 00:16:52,399
the ruling in its essence says, Congress, you've got to

270
00:16:52,519 --> 00:16:55,360
you've got to specify what you want, which you don't.

271
00:16:55,399 --> 00:16:58,559
And you could actually go to these agencies and say, well,

272
00:16:58,559 --> 00:17:02,320
you're doing you're doing uh, you know, thirty five things

273
00:17:02,360 --> 00:17:04,440
that were never authorized by law, So you've got to

274
00:17:04,480 --> 00:17:07,599
stop doing it. So there's a there's a there's a

275
00:17:07,920 --> 00:17:09,920
that's going to be a tool to choose, I think,

276
00:17:09,960 --> 00:17:13,960
to implement a lot of the dogs recommendations.

277
00:17:14,400 --> 00:17:18,319
Speaker 4: Yeah, yeah, we saw it like you know, E p

278
00:17:18,480 --> 00:17:20,960
A a lot of these things. If we don't have

279
00:17:21,039 --> 00:17:26,960
the right to to uphold these regular regulations or implement them,

280
00:17:27,200 --> 00:17:29,759
then we certainly don't have the right to spend money

281
00:17:31,359 --> 00:17:39,079
at the behest of these improper, improperly promulgated regulations. I

282
00:17:39,079 --> 00:17:42,640
guess what the Supreme Court is saying, is uh, the

283
00:17:42,759 --> 00:17:46,559
Congress got it, has got to do it's its job

284
00:17:46,720 --> 00:17:50,880
under the Constitution. They can't delegate it to an agency

285
00:17:51,559 --> 00:17:55,319
that will then run rough shot or or do its

286
00:17:55,319 --> 00:17:56,680
own interpretation of it.

287
00:17:56,759 --> 00:18:02,960
Speaker 1: Right, absolutely, absolutely, And by Trump coming in with the

288
00:18:03,000 --> 00:18:06,359
ferocity that he has, it's going to make all those arguments,

289
00:18:06,480 --> 00:18:08,119
it's going to put him front and center on the

290
00:18:08,119 --> 00:18:11,000
public public stage in America. Is going to get to

291
00:18:12,079 --> 00:18:14,559
you know, throw the support behind it, and hopefully the

292
00:18:14,559 --> 00:18:17,640
courts do the same thing. And you know, we can

293
00:18:17,680 --> 00:18:20,559
accomplish a lot, but you know, we're we're we're in

294
00:18:20,599 --> 00:18:24,400
the early innings and this game, this game is going

295
00:18:24,480 --> 00:18:26,680
to be going on for a while. But I do

296
00:18:26,799 --> 00:18:30,200
know that Trump is really thinking in terms of a deadline.

297
00:18:30,240 --> 00:18:33,480
He thinks he's not thinking like day fifteen. He's more

298
00:18:33,559 --> 00:18:37,079
thinking like, what is it? You know, two years minus

299
00:18:37,079 --> 00:18:39,640
fifteen days, and we've only got so many more days

300
00:18:39,680 --> 00:18:43,960
to accomplish accomplished. So he's he's acting with a sense

301
00:18:44,000 --> 00:18:46,240
of urgency that we've never seen before.

302
00:18:46,920 --> 00:18:51,319
Speaker 4: And the psychological damage that he has inflicted upon his

303
00:18:51,720 --> 00:18:56,599
opponents is immeasurable, you know, because they were not prepared

304
00:18:56,640 --> 00:18:59,920
for this. They thought, Okay, so it's Trump point two.

305
00:19:00,240 --> 00:19:02,920
We'll oppose him, we'll go through the game, we'll stop

306
00:19:03,000 --> 00:19:05,400
him from doing what he wants to do, and that'll

307
00:19:05,400 --> 00:19:08,240
be that. And nothing could be further from the truth.

308
00:19:08,799 --> 00:19:14,000
To actually see, you know, an administration this prepared before

309
00:19:14,039 --> 00:19:16,559
they walk in the door. He was doing this for

310
00:19:16,680 --> 00:19:21,559
months and months, supposedly had his roundtable there and the

311
00:19:21,640 --> 00:19:25,200
executive orders were stacked up and ready to go. And

312
00:19:26,079 --> 00:19:28,480
you know, I think he'll let maybe let it settle

313
00:19:28,559 --> 00:19:31,119
down a little bit and then the next phase will

314
00:19:31,119 --> 00:19:35,359
come in. I mean, this is orchestrated. It's strategic, and

315
00:19:35,480 --> 00:19:40,279
it's designed to do the most psychological damage to the Democrats,

316
00:19:40,319 --> 00:19:41,000
and it's working.

317
00:19:41,720 --> 00:19:46,480
Speaker 2: And that's you know, we're doing audio only, but I'm grinning.

318
00:19:46,160 --> 00:19:46,880
Speaker 4: Ear to ear.

319
00:19:48,359 --> 00:19:48,559
Speaker 2: Well.

320
00:19:48,559 --> 00:19:51,359
Speaker 1: He also he also has a way to you know,

321
00:19:51,440 --> 00:19:54,279
people met an opposition to specific thing and then the

322
00:19:54,319 --> 00:19:57,319
next day he comes out with something else that makes

323
00:19:57,359 --> 00:20:00,680
their head spend. I mean, there's something else that came

324
00:20:00,720 --> 00:20:06,720
out this week was Gaza in him basically standing up

325
00:20:06,799 --> 00:20:10,039
like like the real estate developer that he is and saying, well,

326
00:20:10,079 --> 00:20:13,359
you know, gazz Is Gays has got twenty five miles

327
00:20:13,400 --> 00:20:17,039
of pristine beaches and some of the best clearest waters

328
00:20:17,039 --> 00:20:18,000
in the Mediterranean.

329
00:20:18,519 --> 00:20:20,680
Speaker 2: You know, this would make a great resort.

330
00:20:21,880 --> 00:20:24,519
Speaker 1: And cutting through it, that's kind of And I don't

331
00:20:24,839 --> 00:20:27,160
I don't think he's serious about that. But what he's

332
00:20:27,200 --> 00:20:32,160
doing is he's changing. He's changing the debate and the

333
00:20:32,200 --> 00:20:36,200
whole thing about two state, one state, the whole normle

334
00:20:36,240 --> 00:20:39,400
thing we've been arguing over for fifty sixty seventy years.

335
00:20:41,160 --> 00:20:44,200
This changes the terms of that and puts what he

336
00:20:44,319 --> 00:20:48,480
puts h And I also don't see he didn't say

337
00:20:48,519 --> 00:20:52,279
anything about bringing bringing American military to bear.

338
00:20:52,359 --> 00:20:52,720
Speaker 2: He was.

339
00:20:54,319 --> 00:20:56,920
Speaker 1: We might show up with an army of real estate developers.

340
00:20:56,920 --> 00:20:58,680
But that sets about it.

341
00:20:59,319 --> 00:21:01,920
Speaker 4: Well the look and yeah, who's face and net and yah,

342
00:21:01,960 --> 00:21:03,279
who's good poker player?

343
00:21:03,920 --> 00:21:05,640
Speaker 2: Not not when he said.

344
00:21:05,440 --> 00:21:10,000
Speaker 4: That, like his jaw dropped and his son. What is

345
00:21:10,039 --> 00:21:12,960
he talking about now? But just to muddy up the

346
00:21:13,000 --> 00:21:17,279
waters and to take over the news cycle onto the

347
00:21:17,319 --> 00:21:21,720
next and the next. And I think the opposition's wholly

348
00:21:21,880 --> 00:21:27,160
unprepared for what they're up against this time. And you

349
00:21:27,200 --> 00:21:29,160
know they're it's going to take them while to regroup.

350
00:21:29,440 --> 00:21:34,119
We're gonna have lawsuits everything else. But the fact is,

351
00:21:35,960 --> 00:21:37,759
you know, a lot of things are going to change,

352
00:21:38,160 --> 00:21:41,720
and certainly the open borders are no longer open.

353
00:21:42,440 --> 00:21:43,519
Speaker 2: That's exactly right.

354
00:21:43,880 --> 00:21:48,839
Speaker 4: Yeah, so trumped arrangement syndrome though two point zero, it's

355
00:21:48,880 --> 00:21:52,799
it's through the roof. And you know these people are like,

356
00:21:53,720 --> 00:21:57,640
you can't even reason with him at all now, Bill, Well, they.

357
00:21:58,480 --> 00:22:00,480
Speaker 1: If you look at who they elected is chairman and

358
00:22:00,559 --> 00:22:04,480
vice chairman of the Democratic National Committee, they haven't learned

359
00:22:04,519 --> 00:22:07,200
any lessons at all from the election, and they're still

360
00:22:07,680 --> 00:22:12,400
coming out of that meeting talking about LBGTQ agenda, the

361
00:22:12,440 --> 00:22:16,480
open border, you know, the climate agenda, the you know,

362
00:22:16,519 --> 00:22:20,519
the EPA's attempt to sort of ban all all convenient

363
00:22:20,519 --> 00:22:26,440
appliances because they use too much electricity, and the voters

364
00:22:26,480 --> 00:22:26,960
don't want that.

365
00:22:27,079 --> 00:22:28,359
Speaker 2: If you get a long list of.

366
00:22:28,359 --> 00:22:30,920
Speaker 1: Things that they do care about, what the d n

367
00:22:31,000 --> 00:22:37,119
c's articulating doesn't show up, and anybody's top twenty. So

368
00:22:37,400 --> 00:22:41,160
they're not doing anything right now to retain or regain

369
00:22:42,200 --> 00:22:43,839
public support for their agenda.

370
00:22:43,920 --> 00:22:45,119
Speaker 2: But fact is they.

371
00:22:45,000 --> 00:22:49,079
Speaker 1: Don't really have an agenda beyond those those cultural items.

372
00:22:49,119 --> 00:22:52,319
I mean, they never had an economic growth agenda. You

373
00:22:52,759 --> 00:22:55,200
couldn't you couldn't name a thing that Biden did that

374
00:22:55,359 --> 00:23:00,400
was promoting economic growth. Everything they did was in a sense,

375
00:23:01,480 --> 00:23:05,200
meant to crush the economy, not grow it. So you know,

376
00:23:05,440 --> 00:23:08,079
they got to they got to figure out what Americans

377
00:23:08,079 --> 00:23:08,559
really want.

378
00:23:08,720 --> 00:23:12,119
Speaker 4: Right now they're lost totally. You know. It just reminds

379
00:23:12,119 --> 00:23:15,440
me of that quote from Tallyrand they have learned nothing

380
00:23:15,559 --> 00:23:21,160
and forgotten nothing. That's a good one, Yeah, I mean totally.

381
00:23:22,079 --> 00:23:24,480
So what about the prospects of getting rid of the

382
00:23:24,519 --> 00:23:29,119
income tax? Is that possible? Here? Do we switch to it?

383
00:23:29,400 --> 00:23:31,920
You can't just get it from the tariffs because we've

384
00:23:31,920 --> 00:23:36,200
got four trillion dollars worth of trade. It just can't

385
00:23:36,240 --> 00:23:39,920
be done. Right now, we're collecting eighty billion in tariffs,

386
00:23:40,160 --> 00:23:43,720
which is roughly a two percent across the board tariff

387
00:23:43,799 --> 00:23:48,480
raid fifty times that is four trillion. It just can't

388
00:23:48,519 --> 00:23:51,279
be done. But maybe a national sales tax. What do

389
00:23:51,359 --> 00:23:51,680
we do?

390
00:23:52,440 --> 00:23:52,640
Speaker 2: Well?

391
00:23:52,680 --> 00:23:54,720
Speaker 1: I think that you got to break it into pieces.

392
00:23:55,160 --> 00:23:58,799
Getting rid of the income tax. Don't see it not

393
00:23:58,960 --> 00:24:02,599
enough revenue, but getting rid of the income tax code,

394
00:24:03,519 --> 00:24:07,720
or at least most of it, and radically simplifying you know, Americans,

395
00:24:07,720 --> 00:24:09,759
I forgot the number. I did have it on the

396
00:24:09,839 --> 00:24:13,680
tip of my tongue. But we spend hundreds of billions

397
00:24:13,759 --> 00:24:18,880
of dollars complying with the tax code and the preformations

398
00:24:18,960 --> 00:24:20,880
do and I'll think of it all the time that

399
00:24:20,960 --> 00:24:25,720
small business people spend dealing with their tax stuff and

400
00:24:25,759 --> 00:24:29,640
all the other regulatory stuff. Just by dramatically simplifying the

401
00:24:29,720 --> 00:24:32,720
tax code, I think that gets you a long way

402
00:24:32,759 --> 00:24:36,079
to what we want, and that would free up entrepreneurial

403
00:24:36,200 --> 00:24:40,240
energy to do something other than fill out papers for

404
00:24:41,000 --> 00:24:42,640
tax bureaucrats in Washington.

405
00:24:43,799 --> 00:24:48,480
Speaker 4: Yeah. I couldn't agree with you more so, but the

406
00:24:48,559 --> 00:24:52,440
idea of a national sales tax just seems to be

407
00:24:52,440 --> 00:24:57,599
better because it's automatic. Nobody complains about it, and it's

408
00:24:57,680 --> 00:25:00,480
just passed through and that's that is. You're going to

409
00:25:00,519 --> 00:25:01,319
pay it either way.

410
00:25:01,799 --> 00:25:04,799
Speaker 1: Well, there's something else that we've all gotten used to,

411
00:25:04,960 --> 00:25:07,559
but we should get get rid of. It is that

412
00:25:07,680 --> 00:25:11,559
the irs with the income tax gets to know most

413
00:25:11,559 --> 00:25:14,720
of all your personal business back through your tax filings,

414
00:25:15,039 --> 00:25:19,240
and so the invasion of privacy that they've they've inserted

415
00:25:19,279 --> 00:25:22,279
into the United States. And when do they start the

416
00:25:22,319 --> 00:25:24,960
tax thing nineteen twelve, one.

417
00:25:24,799 --> 00:25:26,400
Speaker 2: Of those those years.

418
00:25:26,559 --> 00:25:30,519
Speaker 1: Yeah, and you know, so you know, just getting rid

419
00:25:30,599 --> 00:25:32,960
of that and subsistuti a sales tax. I mean, if

420
00:25:33,599 --> 00:25:35,400
they want to know what I'm spending my money on,

421
00:25:35,960 --> 00:25:39,559
I'm okay with that. But knowing all my sources of income,

422
00:25:39,680 --> 00:25:43,480
all the various you know, real estate properties, whatever it is,

423
00:25:43,519 --> 00:25:46,799
the people are owned, federal government has no right to

424
00:25:46,880 --> 00:25:47,480
know all that.

425
00:25:48,599 --> 00:25:53,759
Speaker 4: And then decisions get made on purely economic grounds, not

426
00:25:54,000 --> 00:25:57,279
on g it'll save me taxes here, Isn't that a

427
00:25:57,319 --> 00:26:00,920
great thing? And the amount of time, like you say that,

428
00:26:00,960 --> 00:26:05,680
we waste going into preparing taxes and I call it

429
00:26:05,759 --> 00:26:11,079
my annual denial ritual. You know, I put it off

430
00:26:11,119 --> 00:26:14,720
as long as I possibly can till I finally do it.

431
00:26:15,359 --> 00:26:21,000
And yeah, it's just craziness here, really craziness. Well, a

432
00:26:21,039 --> 00:26:24,000
lot of things they're changing here, Like you say, the

433
00:26:24,920 --> 00:26:27,160
well Milton Friedman said it, and I guess it was

434
00:26:27,240 --> 00:26:31,319
done during FDR's first hundred days. I wasn't around then.

435
00:26:32,000 --> 00:26:36,799
This is probably the equivalent to FDR's first hundred days,

436
00:26:36,880 --> 00:26:39,359
maybe even maybe even more than that.

437
00:26:39,799 --> 00:26:44,039
Speaker 2: You know, I I'll go out on a limb.

438
00:26:44,119 --> 00:26:46,559
Speaker 1: I don't know, not much of a m It's much

439
00:26:46,599 --> 00:26:48,880
more than what FDR did in the first hundred days.

440
00:26:49,599 --> 00:26:52,240
And the part of the reason is the government has

441
00:26:52,279 --> 00:26:58,920
grown so enormously since FDR began implementing his so called

442
00:26:59,000 --> 00:27:04,640
New Deal. Uh yeah, so just and and and Trump

443
00:27:04,759 --> 00:27:07,400
is ranging across the whole scope of government for this

444
00:27:07,559 --> 00:27:10,440
change is so yeah, I'd say this is this is

445
00:27:10,599 --> 00:27:15,799
historical and and and and I mean, you know it,

446
00:27:15,799 --> 00:27:18,920
it took it took the country coming to the brink

447
00:27:19,400 --> 00:27:22,200
to get us to do that. And we were at

448
00:27:22,240 --> 00:27:25,240
the brink, and he's pulled us back some. But there's

449
00:27:25,279 --> 00:27:26,839
a whole lot we still got to get done.

450
00:27:27,480 --> 00:27:31,359
Speaker 4: You know. I'd love to see is passing a rule

451
00:27:31,359 --> 00:27:36,039
of the government saying that anybody that gets federal aid

452
00:27:36,559 --> 00:27:39,279
and that has at least a half a billion or

453
00:27:39,319 --> 00:27:45,240
a billion dollar budget, any governmental entity at any level, city, state, local,

454
00:27:46,119 --> 00:27:49,359
you know, fire department, whatever, they got to set up

455
00:27:49,359 --> 00:27:53,680
a doge in that department. You know. And some states

456
00:27:53,680 --> 00:27:57,759
are actually passing statutes now setting up their own doges.

457
00:27:58,440 --> 00:28:01,240
And I think that should be a basic requirement. A

458
00:28:01,359 --> 00:28:05,519
one final thing. California. Is there hope for that state

459
00:28:05,640 --> 00:28:08,759
now after what they've been through, what we've seen happen

460
00:28:08,799 --> 00:28:11,920
as a result of governmental incompetence.

461
00:28:11,960 --> 00:28:17,119
Speaker 1: Bill, Well, there's always hope, But have they learned anything

462
00:28:18,119 --> 00:28:22,599
you know, the the politician and sacrament Sacramento have learned nothing.

463
00:28:23,440 --> 00:28:27,519
And so long as the California voters want to want

464
00:28:27,559 --> 00:28:30,599
to load up their legislature with the people who think

465
00:28:30,680 --> 00:28:33,759
like they do and and passed the laws they've passed,

466
00:28:33,759 --> 00:28:37,960
and they really driven business out of California. And I

467
00:28:38,000 --> 00:28:41,960
think California is the largest homeless population, largest population of

468
00:28:41,960 --> 00:28:46,240
illegal immigrants, you know, talk about living on the brink.

469
00:28:46,480 --> 00:28:50,799
Speaker 2: Uh, So have they learned anything? I and will the change?

470
00:28:51,359 --> 00:28:51,799
I don't know.

471
00:28:52,640 --> 00:28:54,559
Speaker 1: You know, Gavin Newson is still trying to get in

472
00:28:54,640 --> 00:28:57,079
front of the parade. So heat all that figured this out,

473
00:28:57,160 --> 00:29:00,960
we turned water on. I I guess I'm I guess

474
00:29:00,960 --> 00:29:05,319
I'm a little pessimistic that California is going to have

475
00:29:05,359 --> 00:29:09,400
a new playbook. Unless California produces somebody like Trump to

476
00:29:09,480 --> 00:29:10,920
become their governor.

477
00:29:11,039 --> 00:29:14,880
Speaker 4: Well maybe Caruso will be the answer. Certainly they're going

478
00:29:14,960 --> 00:29:18,160
to boot their mayor of LA I mean, that's inevitable.

479
00:29:18,240 --> 00:29:20,920
The problem is the way it's set up is the

480
00:29:20,960 --> 00:29:25,559
city council just picks another dupe, and that's not going

481
00:29:25,599 --> 00:29:26,279
to accomplish.

482
00:29:26,599 --> 00:29:29,240
Speaker 1: As long as long as we have Democrat governance of

483
00:29:29,279 --> 00:29:30,279
all our major cities.

484
00:29:30,319 --> 00:29:31,720
Speaker 2: They're not going to get turned around.

485
00:29:32,240 --> 00:29:36,079
Speaker 4: Yeah. Yeah, Well, I think this election was a wake up.

486
00:29:36,559 --> 00:29:41,200
You know, we saw the country shift to the right measurably,

487
00:29:41,359 --> 00:29:47,319
even in the most bluest of places. So maybe if

488
00:29:47,319 --> 00:29:51,559
they see these policies working, we could see some change here. Bill.

489
00:29:52,039 --> 00:29:55,839
Speaker 2: Okay, well, I say there's hope. I'm with it.

490
00:29:57,079 --> 00:29:59,920
Speaker 4: All right. Well, we really appreciate you coming.

491
00:30:00,319 --> 00:30:01,279
Speaker 2: We're talking again.

492
00:30:01,319 --> 00:30:02,799
Speaker 4: A seapack event.

493
00:30:03,440 --> 00:30:05,359
Speaker 1: When is it. We're in two weeks. We've got a

494
00:30:05,440 --> 00:30:10,039
big seapack event at National Harbor, which is.

495
00:30:10,039 --> 00:30:12,400
Speaker 2: Just across the river from d C.

496
00:30:12,720 --> 00:30:16,440
Speaker 1: And uh, we've got a tremendous lineup of speakers and uh,

497
00:30:16,640 --> 00:30:20,359
you know, President Trump always comes and we expect that

498
00:30:20,400 --> 00:30:21,759
to happen this year as well.

499
00:30:21,839 --> 00:30:24,480
Speaker 2: So it's, uh, it's going to be exciting.

500
00:30:24,519 --> 00:30:27,160
Speaker 1: And you know, before the last several years, it's been

501
00:30:27,160 --> 00:30:30,799
a little gloomy because of what was happening with Biden

502
00:30:30,880 --> 00:30:33,240
and Kamala Harris. Now I think it's going to be

503
00:30:33,279 --> 00:30:36,240
a joyous celebration and uh, you know, I think I

504
00:30:36,240 --> 00:30:38,279
think it would be really fun for everybody to come

505
00:30:38,319 --> 00:30:39,920
because this is going to be a good party.

506
00:30:40,279 --> 00:30:43,319
Speaker 4: Yeah, it sounds like it sounds like it, Well, maybe

507
00:30:43,359 --> 00:30:46,880
I'll try to join the there for this sounds great

508
00:30:47,480 --> 00:30:51,759
and it's come yeah, definitely, And you.

509
00:30:51,720 --> 00:30:53,960
Speaker 1: Know, the tickets are now, you know, ninety five dollars

510
00:30:54,000 --> 00:30:56,279
for people want to do the general admission part of it,

511
00:30:56,319 --> 00:30:58,720
and you get to see everything with that, and so

512
00:30:58,759 --> 00:31:02,359
it's not a it's not meant to be. There's no

513
00:31:02,400 --> 00:31:07,279
financial barriers to coming in and joining in the frolic.

514
00:31:07,720 --> 00:31:09,880
Speaker 4: All right, Well, we'll throw a link to it in

515
00:31:09,920 --> 00:31:13,799
the show notes. This interview on Financial Survival Network dot com.

516
00:31:14,079 --> 00:31:16,640
Appreciate you coming on as always, Bill, we'll talk to

517
00:31:16,720 --> 00:31:17,319
you again soon.

518
00:31:17,559 --> 00:31:18,759
Speaker 2: Carrie, thanks for having.

519
00:31:18,559 --> 00:31:22,680
Speaker 3: Me, Thanks for listening to Carrie Letz's Financial Survival Network,

520
00:31:22,839 --> 00:31:26,759
your solution to today's trying times. For the latest, go

521
00:31:26,839 --> 00:31:31,559
to Financial Survivalnetwork dot com. Financial Survival Network

522
00:31:31,839 --> 00:31:33,359
Speaker 2: Now more than ever