Scott Bessent IMPLODES DURING LIVE INTERVIEW on U.S. Economy

[00:00:00] Speaker 1: I don't think the news is that bad. I think the news is bad. The quality of the reporting, the anti-Americanism, people are so anti-President Trump. [00:00:11] Speaker 2: Maria Bartiromo is maybe the chief propagandist over at News Corp, over at the Fox Business, Fox News outlet. It is just batshit crazy to me that these are the people who we have in such high positions, interviewing people in such high positions, just lying to the American people. They're either blaming Biden for something that they inherited, which was a good financial outlook. We're going to get to the numbers here. Or they're just straight up lying about the position we're in as a country. They want it all the ways. They want us to be the richest, most powerful nation the earth has ever known. But also, we don't have two pennies to stretch together to make sure hungry they want it all the ways. They want rich people to benefit disproportionately from the United States and our largesse. Maria Bartiromo had Scott Bicent on yesterday, and they talked about all things economy, as you would expect. And it was just filled with insane lies meant to, I guess, reassure MAGA world that the reality of their financial situation isn't what they think it is. They actually have a lot more money. And actually, the United States is doing super well, but also not very well because we can't pay for the things we need to pay. And if we continue to pay for the things that we need to pay for where will be the money for Donald Trump's ballroom. All right. The president and yourself [00:01:47] Speaker 3: have been had such courage in terms of doing things that past presidents, past treasury secretaries would not do. I mean, it's countless. And I want to talk a little about the potential for another courageous move, because here we are at the Reagan Economic Forum. And 40 plus years ago, under President Ronald Reagan, mandatory spending was one third of all federal spending. Today, it's two thirds of federal spending. Is that something that the president is going to tackle? [00:02:17] Speaker 1: I'll tell you, Maria, what we got to do. We got to get the short term in order before we get the long term in order so that we had a fiscal contraction for fiscal year 2025 that when I got to treasury that the year before, we'd had the worst budget deficit when we weren't in war, weren't in recession, 6.7 percent of GDP. We brought that down to about 5.5, 5.4 percent. And I've talked about trying to get it down something with a three in front of it by the time the president leaves office. So we've got to get that under control [00:02:51] Speaker 3: before we can tackle the big problems. And because, I mean, if we're continuing to spend all this money on Medicare, Medicaid, Social Security, we won't have any money left to spend on anything else, right? [00:03:03] Speaker 1: Again, we got to work on the here and now. I always call it crawl, walk, run. That we came in, that we were crawling. Now we're getting upright and starting to walk. And, you know, I think once we solve this, we can think about running. That's remarkable, is it not? If we continue to spend all [00:03:26] Speaker 2: the money on Medicare, Medicaid, Social Security, we won't have any money left to spend on anything else, right? She says. Will no one think about Donald Trump's $1.4 billion ballroom? Will no one think about the $220 million commercial buy that Kristi Noem did where she was marching across the country on horseback in a very patriotic way? Will no one think about those things? What do you mean we got to pay for poor people to ensure that they have decent health care? What do you mean we have to take care of elderly people and retirees? What do you mean, Social Security? There are other things more important that we need to pay for. And also, and also let me say this, how much of a long-term tail is it going to take to fix our short-term problems, Scott percent? Well, you know, oh, we need to focus on the, we have to get the short-term in order before we get to the long-term and get that in order. What? You inherited an economy on the rise. You inherited 3% inflation on January 20th, 2025. The moment you took office, Donald Trump, the moment this administration started, Scott percent, you had 3.0% inflation. And where, where is it? Oh no, it's 3.8 now, 3.8, but also projected to maybe get up to 6% in this second quarter. So tell me again, how, how, how, how all of your metrics are absolutely just propaganda or lies or abject stupidity, all of which are disqualifying. And let's do that. Actually let's do that. Let's look back at history and compare the two. Here we go. Inflation 3.0% on January 20th, 2025. Gas that week, $3.06 per gallon. And where are we now after Donald Trump said on day one, he was going to take care of all these problems day one, it's going to be a rocket ship. We're going to be the hottest country in the world. He still says those things, but 3% and $3.06 per gallon for gas. Now we're at 3.8% inflation on the rise to nearly 6% and gas is at $4.32 per gallon. More than a, almost a dollar 50 more per gallon. But tell me more about it, Scott Besant. Tell me more. There's another clip and it gets worse. If you thought it couldn't get worse, it did get worse. Oh, by the way, the thing I'm saying about the 6%, well, we'll put that up here. This is from CNBC, the conservative financial network, CNBC. Inflation rate projected to hit 6% in second quarter, top economic forecasters say. So with all of that, all that good news to look forward to, Scott Besant wants you to know that it's not the bad news that's bad. There isn't any bad news. It's bad news. Another way to phrase it, Maria, though, is many [00:06:55] Speaker 1: people have said to me, are you surprised that the market's gone up on bad news? And I said, you know, I don't think the news is that bad. I think the news is bad. The quality of the reporting, the anti-Americanism, the anti, the, you know, people are so anti-President Trump, anti-this administration, that, you know, I have perfectly asymmetrical information. And I know we have something, Iranian Navy, their Air Force, the 80, 90% of their missile factories they are done in, their launch facilities. You know, I know 50% of the military is not getting paid. Police aren't reporting to the stations. I mean, if you were to look at a lot of these major news outlets, and especially the newspapers who now like putting opinion on the front page rather than facts, you would think we are losing. This is a wipeout. We wipe them out. So no, I'm not surprised. Because, again, the information that I have that, you know, we're looking through this. [00:08:01] Speaker 2: So if you talk about the truth of the situation, if you talk about inflation being 3.8% now and projected to get to 6%, you're anti-Donald Trump. If you talk about the fact that gas was $3.06 per gallon the day Donald Trump took office, and it's now on average across the United States, $4.32, you're anti-Donald Trump, says Scott Besant. Many people have said to me, are you surprised the market has gone up on bad news? I say, I don't think the news is bad. I think the news is bad. Oh, teehee. I see what you did there, Scott. You wordsmith. You master communicator, you. While Americans suffer. While America, Brookings just came out with a study, I'm going to talk about it next when I address some of the comments of the idiot Kevin Hassett, that Americans are facing more financial precarity right now than in a number of years. And there are no measures in sight like there were during COVID to provide stimulus or payments for people who were out of work and otherwise beleaguered by the economy that was in shambles globally. And here we have Scott Besant. Oh, it's not, there's no bad news. There's just bad news. When he's not refuting any of the metrics, he's not saying, well, actually gas is $2 a gallon. He's not going as far as Donald Trump with the addled Alzheimer's memory care patient brain. He's just not addressing them and not getting any pushback at all from Maria Bartiromo, the chief conspiracy theorist and propagandist over at Fox News. All of this is alarming and it's mainly alarming. Look, there are ups and downs in the economy. There are upturns and downturns and ebbs and flows and peaks and valleys. Pick your metaphor. Absolutely. But with no direction in sight, when you aren't even identifying the problem as being a problem, there will be no solutions. Because if you don't see a problem, there's no problem to solve. And that is exactly what we face with the propagandists in the Trump administration, up to and including Donald Trump himself. They won't have acknowledged that there's a problem. So we can't look to them to solve the problem that absolutely exists. That's just another way, I guess, to state it. What do you think? I welcome you to this conversation. Let me know how things are for you and your family. I know things are tough right now and we are all going through this together. Some of us with our eyes open more than others. But I'd love to hear from you. Talk about it in the comments below. You can also call the voicemail line 714-576-4054. And of course, as always, you can email me daily@dollimore.com. I love and appreciate you very much. Thanks for your engagement. I will see you next time. Be genuine and take care of one another. [00:11:18] Speaker ?: Bye.