Transcripts: Bannon’s War Room. Russ Vought Gives His Analysis of Omnibus Bill Proposed In Congress. November 14, 2022.
Topic: Omnibus Bill. Guest, Russ Vought. November 14, 2022.
Transcripts from Bannon’s War Room on Rumble: Russ Vought Gives His Analysis Of Omnibus Bill Proposed In Congress
Published November 14, 2022.
Steve Bannon:
I got to turn to this this lame duck session because this is going to be horrific. You've warned about this, we've talked about this now for six months, but you have an omnibus bill that looks like could be a trillion two trillion and a half. $2 trillion totally unfunded over and above the transfer payments of Social Security, Medicare and Medicaid, which would be about 3 1/2 trillion dollars. You could be looking at a 5 and a half trillion-dollar omnibus bill that's not financed. And the Federal Reserve is making every argument, they want to get out of this business.
The fiscal domination of the legislative side as Bloomberg calls it is coming to an end. You saw that in in England. In addition, Nancy Pelosi goes on TV yesterday, I think it was on ABC, and he's going to a whole interview, and she says the most important thing that she's got to accomplish in the lame duck before she kind of turns things over is the debt ceiling. They're interconnected Russ, walk people through what should be the concerns people should have, what are the pitfalls and what the War Room Posse can do about it.
Russ Vought:
So, they are interconnected but that's also partly by design. So, you take a government shutdown situation where for the discretionary spending if it expires you don't have money for these agencies. That is a different situation than a debt limit, where if you have money coming in you could still spend that money out it, just you don't have enough to spend for all of the commitments that the federal government has made but there's always enough for principle and interest. So, what the cartel does is they merge the fight.
Steve Bannon:
So, you're saying that in that case, cash is coming in, in the cap table the first cat things get paid or the interest and principle like in life you got to pay your bills first and particularly ones you owe to the bank or credit cards. So, when they say default on the debt, you're saying that's a lie?
Russ Vought:
That is that is an intentional merging of the words default. They will say that interest and principle is the same thing as NIH funding for the Wuhan institute. I mean there is a difference between what bills have to be paid for the full faith and credit and what don't or what don't have to get done on time and they have intentionally over defined the word default.
So, that's one part of it. So, in the lame duck we have two trains that are going to be leaving the station. One has to and one doesn't have to. One is the annual appropriations process and it's vital. It is absolutely vital that Republicans in the Senate do not give Joe Biden a full year appropriations bill. We will be out of the business of any kind of activism against the regime if that occurs. So, that's one part of the fight but you and I know because we've been texting about it for the last several weeks. They're also trying to do a debt limit increase and they're going to try to use a reconciliation.
Now that one would require, if they don't similar to the appropits.. that would require if they don't have that procedure, they would have to get 60 votes, but they're trying to use this special procedure to be able to avoid the filibuster and then it comes down to Joe Manchin. And I think they've got you know I think that that would be hard for them to get Joe Manchin but not impossible as we've seen this last year.
So those two things are vital. Now I think they will the real fight will be on appropriations, but I think they will try to get a debt limit because they know historically, we have leveraged that for fiscal reforms, and we will be in a much better place to do that next year. So there again they're trying to merge these issues together so that it's hard for them to, so that they have as much opportunity as possible to just clear the decks. That's the other word that they say.
They don't want any leverage points. The cartel never wants leverage points before the floor of this House or Senate where the cameras are where there are actual votes. They want everything done behind closed doors and they want everything kind of bums rush so that we have two years. You hear them say this we want to get this through to the next election. Why do they want that they want that? So they don't actually have to come before the American people for two years.
Steve Bannon:
Russ, we want to have you back on tomorrow we’ll work with your team to do this, because we have so much to go through with this the politics of it and also the economics and capital markets impact of it. How do, where do where do people go to find it all the great work you're doing and find out more about the details of what you guys are proposing?
Russ Vought:
Yeah we are at Russell Vought on all the channels and we are updating those in real time and they can get us at the website at America Renewing.com (The Center for Renewing America) and in just a few short weeks we will have an America First budget that shows how to balance in 10, preserve all of the important things that we actually care about as conservatives, as nationalist and then go to war with the woke and weaponized regime bureaucracy that Congress is trying to fund at the end of this year.
Thanks.
END
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