The War Room With Stephen K Bannon, June 1st, 2023
2:41 CNN reporter-Should the white house have considered using the 14th amendment to raise the debt ceiling urged by Senator Blumenthal?
Dick Durbin (DD), D Senator Majority Whip—Going to court would not have a timely decision to stop defaulting on our debt. Good argument: section 4 article 14 -but if we made this argument it would go to the supreme court which is not predictable on this subject. Not a good idea to have the fate American economy resting on an unpredictable Supreme Court.
AMENDMENT 14: SECTION 4
“The question that is being raised, then, is whether the debt ceiling is even constitutional in the first place. The reason the debt ceiling is important is because if the government were to reach the ceiling, without it being raised by Congress, it could no longer afford to pay its debts and obligations in the form of interest on the loans, pensions for government workers, and everyday functions of the government. But according to the 14th Amendment, the debt “shall not be questioned.” Does this mean that any statutory debt ceiling is beyond Congress’ authority? Possibly. But whether Congress has such authority remains a theoretical question only.”
3:45 DD-Speaker McCarthy (KM) insisted on not facing the decision to raise or not raise the debt limit until the end of next year. That was a promise that convinced us that we can move forward and not have this hanging over our heads.
4:02 Senator Rand Paul (RP) R Ky our national debt is $32T.
Republicans say we need unlimited military spending. Democrats come and say we need unlimited welfare spending. They compromise. The debt deal is to compromise to spend more money. The debt deal of Biden-McCarthy is an unlimited increase in the debt ceiling.
Historically we raised the debt ceiling $100B or $200B
This debt ceiling until Jan 2025 is as many dollars as they can shovel out the door.
There are no cuts.
2/3 of your spending is entitlement spending Medicare Medicaid food stamps and other programs
They are called mandatory and no one ever looks at them. This is what drives the deficit.
The Republicans took them off the table because the Republicans fear of being criticized by the Democrats.
Let’s not talk about this during presidential campaign.
6:33 SB-the buried lead-DD bombshell KM insisted on pushing debt limit for 2 years.
$890B not good enough for hawks, who want bigger defense budget. Some Democrats also advocate for it because it is a slush fund.
7:38 SB if McCarthy insisted on it there should be a motion to vacate tonight. Inside beltway all happy. War room could not stop it but they fearing going back home and hearing from you.
$15T spending, $4T minimum on balance sheet.
Senate can put cap on it
If you believe in savings, just give a cap for that number for one year.
9:38 SB to P Navarro politico article: white house laughing they got everything they wanted.
10:00 PN-Politico article teaches us: Democrats have better strategists than the Republicans. Biden and Democrats let KM surrender and they kept quiet until the story leaked to politico.
10:43 PN- then SB- KM and Republicans not looking to win they are the party of the donors. Its not Maga. They want to surrender.
11:23 PN Trumps snake poem at the rallies-original sin of this whole defeat here was back when war room was covering the speakership itself. We lost JIM JORDAN (R-Ohio), MARJORIE TAYLOR GREENE (R-Ga.)
11:40 PN MTG is like the woman is Trumps snake poem. This good Samaritan woman finds a sick snake and nurses it back to health and the snake bites it and the woman’s dying breadth is: why? Because I am a snake
Ok MTG and JJ-KM is a snake-you did not learn that lesson. And here we are
12:05 PN_ catastrophic economically because he did not hit the two targets we need: to reduce spending and reestablish strategic energy dominance.
It hurt us politically because he kicked that can down road with this bombshell that KM pushed it. And in the article that I have up on substack: it was stupid for KM to do it but selfish. He did not want that debate to come up in 2024 because it threatens his leadership.
12:35 PN- KM put himself above Republican party, the mainstream, above this country, for his own personal climb up the ladder. That dude is a snake.
12:55 PN_ Hope that there is courage among the 70 conservatives to, at least, make a run at that guy.
13:40 SB- Biggest crime bill institutionalized stagflation. Do we have the lost decade of Japan in front of us?
13:49 PN-The three spending bills Biden and Democrats passed mega trillions are pushing demand pull inflation and no reestablishment of strategic energy dominance means that Russia and Saudis are now setting oil prices rather than America at 30-50% higher than they would be. It’s a pure wealth transfer out there plus a shock to the system.
Those 2 marks were what we had to hit. KM, you blew it on both ends and politically you blew it because you kicked the can down the road and wont allow us to park this debt deal.
He took no one to the oval office to negotiate. He should have taken Russ Vought.