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Apr 10, 2025

Tax Cut Bill Is Poised To EXPLODE The Deficit

House Republicans have taken a critical step to advance President Donald Trump’s tax cuts and border priorities through Congress,
  • 13 minutes
No one has talked about cutting one benefit in Medicaid to anyone who's duly owed. What we've talked about is returning work requirements. So, for example, you don't have able bodied young men on a program that's designed for single mothers and the elderly and disabled. They're draining resources from people who actually do that. [00:00:16] So if you if you clean that up and shore it up, you save a lot of money and you return the dignity of work to young men who need to be out working instead of playing video games all day. We have a lot of fraud, waste and abuse in Medicaid. Today, the House of Representatives have approved have approved the blueprint [00:00:35] for President Donald Trump's big, beautiful bill. And that blueprint could very well include the dreaded cuts to Medicaid. So you just watched House speaker Mike Johnson's comments on that matter. We have more details on the blueprint to get to, including how and why Republicans [00:00:50] almost rebelled against it. But there are a lot of young, able bodied men who work and earn money and still rely on Medicaid. So what is Speaker Johnson talking about? Yeah. So we're going to get to the fight over Medicaid because there's actually some Republicans who don't want to cut it. And there are others who want to chop it to pieces, [00:01:07] and they're in a locked in a battle. But it doesn't matter, because none of that's going to happen because they're actually not going to cut spending almost at all. That's my prediction. And I'm going to explain why in a second. So when they cut $5 trillion in tax cuts, that's going [00:01:25] to be a $5 trillion hole in the deficit. The Republicans are going to be proven liars for the 800th time in a row. But in this new media age, I actually think there's some chance that people will begin to see that they're grotesque liars. They never cared about the deficit. They never cared about the debt. [00:01:45] I'm talking about Republican politicians. And yes, that definitely includes Donald J. Trump. He's he's added to the debt more than any other president. And he's about to give the biggest giveaway to the rich and corporations that we have ever done in US history. [00:02:00] So let's give you the details. I'll come back and explain more. All right. Here are those details. The budget that the House passed clears the way for Congress to use the reconciliation process. And that means that conservatives get to ignore the Democrats 60, vote Senate filibuster, and pass a bill with a simple majority instead. [00:02:19] So long as the House and the Senate work together on writing up Trump's, quote, big, beautiful bill. But until this morning, several House Republicans did not trust their Senate counterparts. And here is why. As we've covered many times on this show, the big, beautiful Bill [00:02:35] would make our country take on a staggering amount of debt. Okay. It would cut taxes by $5.3 trillion over a decade. That's what Jake keeps referring to. It would also raise the debt ceiling by $5 trillion. And the United States already has around $36 trillion in debt. [00:02:54] In February, the House passed a budget framework that committed to cutting $1.5 trillion in federal spending. But the Senate's budget, which passed last weekend, only committed to cutting $4 billion in federal spending. And the giant discrepancy of spending cuts is what Republicans [00:03:13] were about to mutiny over. The House Freedom Caucus wanted the Senate to vote again on a different budget that committed to more cuts. They were afraid that if the Senate did not commit to spending cuts, now that the Senate would just get their way and only cut a few billion dollars of spending. [00:03:30] So to that end, Representative Andy Ogles said this. He said, I support the president. I trust the president. I do not trust the Senate. I've seen this movie. I know how it ends. Why are we going down this path? It's like Lucy and the football. She pulls it away every time. [00:03:47] Mike Johnson wanted to vote on the budget yesterday, but he didn't have the votes. But this morning he put it up for a vote and it did pass. So what changed between then and now? The difference maker was a press conference that Mike Johnson held, and Senate Majority Leader John Thune was there as well this morning. [00:04:05] Thune stated that many senators wanted to cut at least $1.5 trillion in spending, but there is nothing that will bind the Senate to actually do so. In other words, the Republicans have decided to just take Thune at his word. Except for Thomas Massie and Victoria Spartz, two Republicans [00:04:22] who voted no on the bill anyway. Here's what Massie posted today. He said if you were trying to hasten financial collapse of our country and bribe voters to go along with it, the strategy wouldn't look much different than what Congress is doing today. The big, beautiful bill cuts taxes while keeping spending [00:04:41] on an increasingly unstable trajectory. Instability really seems to be the theme these days. As for Mike Johnson's comments on Medicaid, here's what you need to know about that. The House's instructions include a directive to cut $880 billion [00:04:57] from programs under the House Energy and Commerce Committee, which nonpartisan experts have said is not possible to meet without slashing Medicaid. So more uncertainty, more unpredictability for the American people. It is exhausting, and frankly, it's unacceptable, especially when you're doing [00:05:14] all of these things right, making all of these cuts without providing any kind of contingency plan. They have no consideration whatsoever for what to do with these people who have all by now lost their jobs, who won't have access to health care, who don't know whether or not they're [00:05:31] going to get their Social Security checks. There's too much uncertainty, and they have no plan for what's going to happen after they've burned everything down. Yeah, well, there's also too much certainty. The and I'll explain what I mean by that. And there's a mirror image of the Biden administration in here somewhere as well. [00:05:48] So I'll get to it one by one. First, what happened to the parliamentarian I was told by the Democrats that you couldn't get anything done. Even the simplest things that the overwhelming majority of the country agrees to $50, minimum wage, paid family leave, etc. Couldn't be done because of the all powerful parliamentarian. [00:06:04] Now they're doing not tiny little things. They're doing $5 trillion in tax cuts. Parliamentarian nowhere to be found. In case you didn't see it from an earlier show that we did. The parliamentarian said they couldn't do this. And the Republicans were like, yeah, we don't care. You're irrelevant. And they just moved on. [00:06:21] Exactly what we told the Democrats to do. But they pretended that they couldn't do that. Number two, the spending cuts you didn't mishear what Yaz said $4 billion, not trillion. So $5.3 trillion in tax cuts, 4 billion in spending cuts. [00:06:42] In that context, four is zero. Okay. So like if you take away the 4 billion from 5.3 trillion, you still have 5.3 trillion. So Okay. That is unbelievable. Unbelievable. What a joke they are. So look, this one, this one is bipartisan. In fact, Tom Massie is right. [00:07:00] If you're a right winger or you're a conservative or you're MAGA, you should be way more pissed than we are about the spending cuts. They're not going to do any spending cuts. That's the current blueprint in the House. That's what just passed almost no spending cuts at all. [00:07:19] Of course they're lying to you. Of course it's Lucy with the football. And in fact, that brings us to our parallel with Biden. Biden pretended that he was going to do all these progressive bills, and. And then they went with the strategy that they pushed onto the House [00:07:36] for progressives to not fight the bill. They said, yeah, your priorities. We eviscerated them. 85% of them are gone. And it's super obvious to anyone with a brain that they're not going to come back. But don't worry. Trust Biden. [00:07:52] Because Biden is going to secretly, magically do these at another time. And did he? Of course he didn't. Of course he didn't. So now you know what they're calling this when it looks like they're not going to do any spending cuts, and all they're going to do is put $5 trillion hole in the deficit. [00:08:09] They're calling it the trust Trump strategy. Mirror image. Mirror image. You think you're going to get spending cuts. Right wingers, the right wing base. You're not going to get any spending cuts. Even if all the spending cuts through Doge were real. That's $130 billion. That leaves you $5.2 trillion in deficit hole. [00:08:29] So even if everything they said was true, you'd still have almost no cuts. And you would do the giant giveaways for corporations and the richest people in America. Anyway, they're about to redistribute wealth from the middle to the top. [00:08:44] This is the greatest robbery. And in fact, that's part of the reason why we have all this tariff talk. So you don't notice while they rob you of $5.3 trillion. So that's why I've been harping on it nonstop. And because I don't want people to to forget this. [00:09:01] Because when we look back at the Trump administration, the one thing that everyone's going to talk about is not the tariffs. It's not anything that's happened so far. It's not going to be Greenland. It's not going to be Gulf of America. It's going to be, oh my God. They gave away the biggest tax cut in history to the richest people [00:09:19] in the history of the world. As if they didn't have enough. They gave him 5 trillion more from American taxpayers. The middle class eventually has to pay all this bill. And how are they going to pay it? They're going to cut Medicaid, Medicare, Social Security. All that stuff is inevitable if they keep passing gigantic trillion dollar tax cuts [00:09:37] for the richest people in the world. So that's what's headed next. So the thing that's certain is that the uniparty and the donor class always win. So Joe Biden told the donors nothing will fundamentally change. At least he was more honest about it. Everybody knew that Joe Biden was for the establishment and for the status quo. [00:09:56] Trump comes in like, oh, I'm a populist man. Oh, average American man. I hate these guys and that guys. And I'm on your side. Oh, we're going to go get the rich. These suckers, these suckers. I'm not going to do any of that. I'm not going to do the spending because I'm not going to do anything. - Except. - Give myself and all my. [00:10:11] - Rich friends. - Literally trillions. Of dollars. This is not theoretical or hypothetical. They just pass it in the house. It's the blueprint. Eventually they get to a point where they have to actually pass it in the House, the Senate, and the president has to sign it. But in order for the bill to get derailed, the incredibly greedy, the incredibly [00:10:30] corrupt uniparty Republicans, which is 99% of them are going to say no to $5 trillion in tax cuts for their donors. I've got that at near zero chance they would have to be some sort of actual populist rebellion slash revolution. [00:10:47] To prevent these tax cuts from getting into place. And because the one thing that always passes in Washington, they make a lot of promises to the left, a lot of promises to the right, a lot of promises to the middle. Those never happen. The one thing that always happens is tax cuts for the rich and for corporations. [00:11:06] So this train is headed 100 miles in either direction. And can there be a populist revolt in time to derail this? Very, very, very unlikely. So you're about to get robbed on a scale we haven't seen in a long, long time. This would be the largest tax cut in American history. [00:11:23] And while everybody's distracted with the tariffs, they're just just boom they're getting it passed everyone. And by the way, mainstream media and the Democratic Party, are they going nuts over it. Oh they're getting yeah they are they're getting ready now. Chuck Schumer and Hakeem Jeffries are warming up going. [00:11:40] There was nothing we could do. There was nothing we could do. There was nothing we could do. They're getting ready. They're getting ready to sing it because that's what's going to happen. Yes! Yeah. Can't wait. You know, I actually had to double check those numbers during the break before doing that story. The trillions versus the billions. [00:11:55] Because even me, just like reading it and presenting it, I was like, what? Like the 4 billion. It's hard to wrap your head around. And I think you have to think that some of that is intentional because as you said, like all this stuff is going on at the exact same time that we have all of this tariff chaos. [00:12:11] And it's it's too much for the average person to keep up with, even the person who is sitting here watching all these shows, consuming all the news, reading all the articles. It is too much for anyone to deal with. But it's what we were talking about. The American people are just being slapped one way or the other. [00:12:29] You know, nothing that's being done right now is intended to benefit the average American citizen. Despite what they tell us. All of the smoke and mirrors, all of the fake reasons that they give us for why they're doing what they're doing is insulting, right? A big part of why Trump reversed his tariffs is because the market was tanking [00:12:46] so hard that it would have taken his tax cuts from him and his billionaire friends, but instead he gets up there and he tells us, oh, people were getting a little bit yippy. So I decided to do something different from the thing that I kept saying I was going to do, not just for the last week, but since before he was the president [00:13:02] for the second term. Even in his first term, he was talking about tariffs. The man is obsessed. Right. And now he has made it all of our problems. And here we are just having to deal with him. And I know that we elected him a second time. And I know that, you know, this is our fault. Not my fault. I didn't vote for him. [00:13:19] But it is our collective fault that we all have to deal with this. But it is a I. It's difficult because you want to say, didn't you know what you were voting for? But at the same time, a lot of people, they just they don't hear everything because there's too much to hear and there's too much to keep track of. [00:13:36] Every time you ring the bell below, an angel gets its wings. Totally not true, but it does keep you updated on our live shows.