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Bannon`s War Room

Episode 4604: Treasury Secretary Gives The Inside Baseball On The BBB; Live From BRICS

Bannon`s War Room

WarRoom.org

News, Politics, News:politics

4.415.6K Ratings

🗓️ 2 July 2025

⏱️ 53 minutes

🧾️ Download transcript

Summary

Episode 4604: Treasury Secretary Gives The Inside Baseball On The BBB; Live From BRICS

Transcript

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0:00.0

One of the reasons, other than my support for President Trump, that I came out from behind my desk, and I had a pretty good life, and I wanted to come out and really tell people that I was worried about an impending financial calamity, given the high levels of government spending that were leading to high levels

0:22.3

of government debt. So what we are doing, on one side, the president is reordering trade. On the other

0:30.4

side, we are shedding excess labor in the federal government and bringing down federal borrowings.

0:40.3

And then on the other side, that will give us the labor that we need for the new manufacturing.

0:47.3

And we're going to relever the private sector.

0:51.3

So the private sector, in essence, has been in recession during the Biden years.

0:56.6

And this is an opportunity to right-size the federal government and unleash the private sector again

1:04.2

because it's been hemmed down by excessive regulation. And it's been crowded out by the government.

1:10.2

We are under your direction we're

1:12.2

reprivatizing the economy we're bringing down government spending we're bringing down excess

1:17.6

employment in the government sector on the other side we're going to re-leverage the banking system

1:22.8

we're going to have all the new manufacturing jobs so everyone who's laid off the from the government

1:28.3

will have an opportunity to go into the private sector and that is going to lead to disinflation

1:34.3

we're going to inflation is under control we're going to get the affordability crisis fixed so lower

1:40.9

energy deregulation more private sector jobs that will naturally get interest rates down.

1:48.4

Interest rates down, mortgage rates are down almost every week since January 20th.

1:53.5

The energy costs are down about 15 percent, crude oil is down about 15 percent.

1:59.4

And as we keep that going,

2:01.6

interest rates are going to keep declining.

2:03.6

It'll be good for mortgages.

2:05.6

It'll be good for credit card debt.

2:07.6

It'll be great for auto loans.

...

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